Tim Draper sticks to his Bitcoin forecast of $ 250,000
Venture capital investor Tim Draper reiterates his forecast that the price of Bitcoin (BTC) will reach $ 250,000 by 2022. At a panel discussion this week at the Web Summit conference, he said:
"We speak of five percent market share to reach $ 250,000. […] All we really need to do is make it possible to buy coffee from Starbucks, and suddenly the world opens up and then they say, I have this choice: […] Do I want a currency that I can take from country to country, or do I want a currency that binds me to a country or a geographical area and that I can not use anywhere else? "
Regarding fiat currencies, Draper said, "Why do we even trust currencies that are determined by one or the other strange political parties?"
According to Tim Draper, banks spend money "whenever they feel like it and for whatever reason they want it." The emergence of a "totally unpolitical", global and open currency would relinquish control of money from the banks to ordinary people.
Erik Voorhees: US debt crisis will lead to new crypto-boom
- ShapeShift CEO Erik Voorhees said the US's growing debt, which is estimated at $ 21.7 trillion from November, will inevitably lead to a sharp rise in the crypto.
- "When the next global financial crisis comes and the world realizes that organizations with debts of $ 20 trillion can never repay them, they have to print instead, and thus fiat money is doomed to failure."
- BlackRock, the largest asset manager in the world with over $ 6.317 trillion in assets under management, is the youngest major financial institution to raise concerns about the US's rapidly rising national debt.
BaFin banned the activities of British crypto-trading company
- The German Federal Financial Supervisory Authority (BaFin) has ordered the partial cessation of activities of the UK-based crypto holding Finatex, according to a notice published on Friday.
- Finatex Ltd. is instructed to cease cross-border proprietary trading on its trading platform Crypto-Capitals "without delay".
- In a brief description of the Company's activities, the Financial Regulator noted that Crypto-Capital offers "Options, Contracts for Difference (CFDs) on equities, indices, currencies and commodities".
Users of crypto-exchange Bitfinex wait weeks for dollar-disbursements
- Three weeks after making sure everything went smoothly, some customers at the crypto-currency exchange, Bitfinex, wonder why they still can not withdraw their money.
- Users still say they did not receive their money despite the long wait.
- CoinDesk spoke to seven other Bitfinex customers who have been waiting several weeks for them to receive fake withdrawals or to have their withdrawals canceled and canceled.
Growing number of crypto companies operate from Belarus
- A number of cryptocurrency companies are now in Hi-Tech Park, Belarus, after the government in Minsk legalized cryptographic activities for its residents.
- The document legalizes activities such as the exchange of digital assets, Crowdfunding through initial coin deals (ICOs) and cryptocurrency mining for entities registered in the HTP.
- In order to increase the number of HTP inhabitants, more clarity is needed on current regulations.
Canada's Bitcoin-Miner Hut 8 reports a loss in the third quarter
- Hut 8 Mining Corp., a Canadian Bitcoin mining company, has released its third quarter earnings report, which shows a net loss of $ 8.7 million due to higher depreciation charges.
- Depreciation increased to $ 13.3 million, higher than the $ 6.7 million gain from the mining.
- This summer, a record heatwave in the province has led to increased electricity costs over certain periods of time.
EtherDelta founder pays $ 388,000 fine to SEC
- The US Securities and Exchange Commission (SEC) announced Thursday that it has filed charges against EtherDelta founder Zachary Coburn.
- EtherDelta is a platform for the secondary market with block-based tokens.
- EtherDelta should have been aware of these conditions as the SEC issued its 2017 DAO report outlining the requirements for platform operators.
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