Saturday, September 15, 2018

Draper calls moonshot

September 15th, 2018

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QUOTE OF THE DAY

"Life is either a daring adventure or nothing at all."

- Helen Keller

MARKET

COIN	PRICE	24H

BTC	$6,477.72	-0.17%

ETH	$209.03	+4.76%

XRP	$0.27705	+0.10%

BCH	$451.00	+0.52%

EOS	$5.26	+2.15%

*Information as of 9:30 AM EST

PREDICTION

Crypto Bull Tim Draper Calls 400x Market Growth in Next 15 Years

TIM DRAPER

Tim Draper is a renowned American venture capital investor and longtime vocal proponent of cryptocurrencies
Draper is most famous in the crypto space for buying 30,000 BTC for $650 each from the US Marshals Service in the infamous Silk Road auction

PERMA BULL

Draper has never shied away from making bold predictions for where the cryptocurrency market can go
Earlier this year, Draper said that blockchain has the potential to be more transformative than the industrial revolution, the Renaissance, and the Iron Age
His most recent Bitcoin prediction called for the top cryptocurrency to hit $250,000 by 2022
Although his predictions do seem a little outlandish, he has been right in the past
- In 2015, Draper called for $10,000 a BTC by 2017, in hindsight that prediction seems conservative
Draper is beloved by the community because he puts his money where his mouth with and has publicly disclosed some large Bitcoin investments

LATEST PREDICTION

Draper has made his latest crypto price prediction and this one may be his most bold prediction yet
The crypto bull has made the prediction that the total cryptocurrency market capitalization will be $80 trillion in the next 15 years, which represents a 400x increase from the current market valuation

Draper explained that the crypto market is currently like the early day of the internet:

“The internet started in the same way, it came in big waves and then it kind of came crashing down, and then the next wave comes concentrated but much bigger, and I suspect the same thing will go on here.”

GOVERNMENT

European Central Bank Has 'No Plans' to Issue a Digital Currency

'NO PLANS'

Yesterday, Reuters reported that European Central Bank (ECB) President Mario Draghi said the ECB has "no plans" to issue a digital euro
Draghi reasons that, as of right now, distributed ledger technology is not developed enough to provide a suitable platform
In addition, Draghi explained that the ECB's research indicates that physical cash still makes up 78.8% of all transactions, insinuating that a digital euro wouldn't have a significant effect on commerce

FALLING BEHIND?

As Draghi closes the door on distributed ledger technology for now, other countries are looking to launch central bank digital currencies
Just recently, the Bank of Thailand announced that it plans to complete the first phase of a proof-of-concept trial for a central bank digital currency by next March
For China, state-owned People's Bank of China has filed for more than 40 patent applications pertaining to digital currencies
However, though many countries are considering a central bank digital currency, a handful of others like Australia and New Zealand agree with the ECB

OPINION

Famous Crypto Investor Mike Novogratz Calls Market Bottom

NOVOGRATZ'S & CRYPTO

Mike Novogratz is a former hedge fund manager at Fortress Investment Group and entered into the crypto industry by earlier this year raising $250 million to develop a "cryptocurrency merchant bank" in Canada
In May, Novogratz launched a cryptocurrency index with Bloomberg, called the Bloomberg Galaxy Crypto Index

CALLING BOTTOM

Novogratz recently took Twitter to proclaim to the crypto-world that he thinks the market has reached its bottom point after most coins have dropped at least 80% from December 2017 highs
He points to data from Galaxy Digital's crypto price index that shows the market bouncing off of highs from last year
Not only does Novogratz think this is the bottom, he thinks the market may be able to retrace its heroic 2017 run

LAUNCH

Tezos Foundation Mainnet is Finally Launching After a Bumpy Journey

BRING ON THE MAINNET

In June, Tezos launched its beta network and started allowing users to begin validating blocks
Now, announced yesterday, Tezos Foundation tweeted that their long-awaited mainnet is launching on Monday
The mainnet launch will be an instrumental milestone for the blockchain that boasts the ability to self-upgrade over time without dividing the community through a hard fork

ROCKY PAST

In July 2017, Tezos Foundation launched its ICO that raised $232 million at the time which was made up of 66,000 Bitcoin and 361,000 Ethereum
Per the ICO details, Tezos Foundation called the funding "a non-refundable donation" and mentioned that the tokens may not be issued at all
After the ICO, a dispute arose between the co-founders and the funds controller that led the platform to numerous lawsuits and delays
In addition, Tezos retroactively implemented anti-money laundering and know your customer checks on investors who contributed to the project and this caused backlash in the community

Following the announcement of the mainnet launch date, Tezos (XTZ) was up 15% on the day with a market cap of $933 million.

BITS

A new study by crypto finance company Circle, published September 12, shows that millennial women invest in cryptocurrency at half the rate of men.
Brave has filed regulatory complaints against Google and others over what it considers poor privacy protection for users in the online ads industry.
Overstock announced that its investment choice Bitsy has begun a limited beta launch of its cryptocurrency wallet and exchange.

COIN OF THE DAY

Gifto (GTO)

Gifto is a blockchain protocol that allows true monetization for global content creators on any content platform by rewarding originality.

MEME

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