According to a new study by Deutsche Bank, by 2030 the demand for alternative currencies will increase significantly, which will lead to the disappearance of fiat currencies.
In the Imagine 2030 report, Jim Reid, head of Deutsche Bank's Global Fundamental Credit Strategy, recalled the problems that the current monetary system has faced in recent years. He said that the increased demand for intangible assets and their anonymity will attract more people to digital currencies.
Anthony Pompliano, a well-known Bitcoin fan and founder of Morgan Creek, said that Bitcoin is not an investment, but a peaceful protest against a system that can change the world.
With his publication, he addresses all users. According to him, they can be divided into two types: some act as mercenaries and others as missionaries. Pompliano describes both categories.
Over the past week, reports began to appear on the network about problems with the withdrawal of funds on the IDAX cryptocurrency exchange. As it turned out, most of them were confirmed.
Yesterday morning, the company issued an "urgent notice" in which it informed that the site's general manager had "disappeared", and, accordingly, access to the cold wallet, which contains almost all of the cryptocurrency, was lost. Because of this, the process of depositing and withdrawing funds had to be suspended.
The CEO of Twitter and cryptocurrency enthusiast Jack Dorsey believes that Africa will determine the future of the cryptocurrency industry.
According to Dorsey, despite the development and adoption of cryptocurrencies in Europe and America, it is Africa that will become the head of the industry. After his tour of Nigeria and Ghana, Dorsey said that the African continent is developing rapidly, but is still very poor and this will be one of the main reasons for the adoption of Bitcoin and other cryptocurrencies.
The most anticipated event of the cryptocurrency industry in 2020 is the halving of the Bitcoin miners award (halving). Many associate with him a new growth cycle of the cryptocurrency market.
In the traditional economic system, the Central Bank regulates the exchange rate of the national currency, which, if necessary, can saturate the economy with money or withdraw it from circulation. There are various tools for this: currency intervention, a quantitative easing program, raising or lowering interest rates on loans and deposits for commercial banks and other methods. They allow the Central Bank to contain or increase inflation and, in general, influence the economic situation in the country.
According to CoinATMRadar, the number of active crypto ATMs worldwide has exceeded 6,000 for the first time. Of these, three quarters of the devices are located in the United States and Canada.
According to recent data, there are currently 6,004 crypto ATMs installed in the world, more than 65% of which are located in the United States. In addition, 108 devices were installed this month, and data also shows that on average around 11 new crypto ATMs are installed daily in the world.
Providing Old-Style Security for New-World Wealth
Singapore – Justhodlcoin, a Singapore-based company that specializes in cryptocurrency hardware wallets, is pleased to announce that its latest innovation, Stronghodl, will be launched on Kickstarter on November 9.
Justhodlcoin recognizes that although cryptocurrency is the way of the future, security is a common issue, and for that reason the company is on a mission to provide an effective solution for those security risks.American entrepreneur and cryptocurrency enthusiast John McAfee believes that cryptocurrency firms are not required to prevent the use of crypto assets for crime.
Washington D.C.-based news agency The Hill reports that although McAfee himself is concerned about the use of cryptocurrencies in illegal activities, he believes that cryptocurrency exchanges and companies should not monitor suspicious activity.According to the director of cryptocurrency exchange Binance, Changpeng Zhao, the platform plans to add support for all 180 fiat currencies of the World.
According to Zhao, Binance intends to provide customers with "direct access to the great liquidity" available on the exchange. This statement discloses the exchange's plans for cooperation with third-party services to add as many trading pairs with fiat currencies as possible.
Ethereum co-founder and CEO of Consensys Joseph Lubin hopes that China's state-owned cryptocurrency will be compatible with open blockchains, including Ethereum.
Lubin expressed his opinion during an interview with Forbes, published on November 9.
Turkish President Recep Tayyip Erdogan said the government will finish testing digital currency from the Central Bank of the Republic of Turkey in 2020.
The Turkish Central Bank plans to release a digital lira in accordance with the annual presidential program at the end of next year. Along with the launch of its own cryptocurrency, the government is going to begin developing a special platform for making instant payments with a digital lira. The Turkish Council for Scientific and Technical Research (TUBITAK) will also work on the project.
Now a little more than 18 million Bitcoins have been mined, and the maximum number of BTC cannot exceed 21 million. Bitcoin enthusiast Charlie Shrem believes that in a few years even 5 BTC will be able to change the life of their owner.
Of course, 5-10 Bitcoins is from 45 to 90 thousand dollars at the current exchange rate, and not everyone can afford such money. However, on the other hand, even 1 BTC, in the case of multiple growth, can change the life of the owner.
Blockstream Chief Strategy Officer, Samson Mow, believes that regulators' hostility towards Bitcoin could be a "double-edged sword" for the organizations themselves.
Mow said that bitcoin really solves a large number of problems of the traditional financial industry, for example, inflation. In his opinion, the countries of the world will have to accept cryptocurrencies because of their advantages, and the hostility of regulators towards Bitcoin can destroy the credibility of them.
Fundstrat Global Advisor Managing Partner and cryptocurrency enthusiast Tom Lee believes that after the recent strong growth in Bitcoin, the bulls have again begun to dominate the market.
Last Saturday, the rate of the first cryptocurrency grew by 30%, showing a record growth over the past few years. The price of Bitcoin even exceeded $ 10,000. Now trading is at around $ 9,400, but according to Tom Lee, in the near future the rate may again go up.
Max Property Group Brings Innovation and Transparency To Real Estate
Despite being the most valuable asset class in the World, the technology underlying the real estate investment market has remained largely unchanged for decades. Max Property Group, a real estate investment company in the Netherlands, having suffered antiquated practices and outdated technology first hand, has developed a platform with the potential to rock a US $228 trillion market.
Heath Tarbert, chairman of the U.S. Commodity Futures Trading Commission (CFTC), believes that Ethereum futures will be launched as early as next year.
During his speech at Georgetown University, Tarbert expressed the view that air futures will appear within 6-12 months, however, the launch of such products does not mean an immediate growth in the cryptocurrency industry.
Well-known American entrepreneur and cryptocurrency enthusiast John McAfee believes that stablecoins are only an intermediate solution for decentralized exchanges.
McAfee mentioned the main problems associated with the conversion of fiat and cryptocurrencies on exchanges. According to him, stablecoins are not quite suitable for use on decentralized exchanges, given that such exchanges do not collect any information about users, including their names, addresses, insurance number, email, etc.
Telegram sent a new letter to its investors, in which it says that the launch of the TON blockchain is postponed for six months. The launch deadline is now set for April 30, 2020. Investors can exit the project by taking 77% of their investments.
In the letter, the company refers to a proceeding with the US Securities and Exchange Commission (SEC), which considered Gram tokens to be unregistered securities. The regulator managed to achieve a time limit on their sale and use, which interferes with Telegram's plans.
