In a recent vlog for Bitcoin.com, Roger Ver, the Chief Executive Officer [CEO] of Bitcoin.com along with Bitcoin Web developer, Corbin Fraser shared some insights about the newly released software and applications in the crypto world.
The web developer informed the audience about Cashaccount.info which is available on the mainnet for the public. Cashaccount.info provides a simpler way for users to share a Bitcoin cash address. Fraser informed that Copay, a Bitcoin wallet has given a green light to the software and are integrating it, along with many other wallets. He also mentioned that even Bitcoin.com is looking into and might integrate the cash account into their block explorer.
Fraser also took the opportunity to address the privacy steps to be taken by the audience to ensure their data is secure. Fraser said:
“If you’re concerned at all with privacy, I would recommend creating a new wallet specifically for this. Especially if you’re tying in your personal details personal name into the cash account ID.”
There are also talks of integrating stealth address to ensure privacy especially “if you’re tying in your personal details personal name into the cash account ID.”
The BCH proponent also talked about Bitbacker, an alternative website to Patreon which charges about 1% compared to Patreon which charges between 10% to 30%. The Bitcoin duo also discussed the privacy concerns on many applications like Reddit and quipped about making another video on this.
“I think the censorship we’ve seen on places like Reddit r/Bitcoin is quite a bit stronger than even some of the censorship we’ve been seeing on Patreon” said Fraser.
Ver and Fraser also discussed the feasibility of Gateway.cash. Ver explained the concept of Gateway cash and how convenient it is to the guests on his shows and cited the example credit cards and how they can be stopped from functioning from the end of the banks. However, this is not the case with Gateway.cash. Ver said:
“If you host everything yourself and you have your private keys, nobody, in the entire world can stop you from receiving payments from anyone in the entire world which is very different than credit card or PayPal our bank account.”
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Bitcoin will likely be valued at $100,000 with a market cap of over $2 trillion before the end of 2021
The entire cryptocurrency market seems to be on the brighter side of the market since the beginning of the year. A majority of the coins have recorded significant recoveries from their 2018 slump, a period during which most coins lost over 90 percent of their value, when compared to their all-time highs. Among all the coins in the market, Bitcoin [BTC] aka the digital gold, was noted to be making a massive comeback as the coin breached the $11,000 mark after nearly 15 months. The coin however, soon retracted to settle below the $11,000 level.
According to CoinMarketCap, at press time, Bitcoin was trading at $10,887.27 with a market cap of $93.549 billion. The coin recorded a 24-hour trading volume of $20.757 billion for the past 24 hours and saw a massive rise of over 17 percent over the past seven days.
Anthony Pompliano, Co-founder of Morgan Creek Digital Assets, predicted that the largest digital currency could rise to reach $100,000, before the end of 2021. Pomp added that he was around 70-75 percent confident in this prediction. He stated,
“As I have previously said, making predictions is difficult […] Part of my process as a professional money manager is forming a thesis (price target), identifying a timeline (date), and establishing a confidence level. And then constantly re-evaluating those three aspects of my thought process as I receive new information.”
Pomp however, listed six pointers that have to be understood beforehand. First, this prediction is not an investment advice, and people should do their own research before investing in the digital currency. The second is with respect to Bitcoin’s volatility, with Pomp remarking that since it was a highly volatile market, the coin could witness a significant fall before being valued at $100,000. He stated,
“I anticipate that there will be numerous 20-30% drawdowns from new all-time highs as the asset continues to appreciate in value. These mini-boom/bust cycles should not cause panic, but rather need to be understood as natural market dynamics whenever an asset gains significant value in short periods of time.”
Further, the partner of the investment firm stated that the rise would be driven by several catalysts. This includes institutional adoption, exchange-traded funds and retail product approvals, global instability, governments all across the globe manipulating currencies, markets and economy. He went on to state,
“The market cap of Bitcoin will reach $2+ trillion when Bitcoin is worth $100,000. This is less than 1/3 the market cap of gold and less than 1/40 the global money supply.”
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