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Saturday, September 15, 2018
The ROADMAP (Loom Updates)
Draper calls moonshot
September 15th, 2018
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% |
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| ETH | $209.03 | +4.76% |
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| XRP | $0.27705 | +0.10% |
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| BCH | $451.00 | +0.52% |
| | ||
| EOS | $5.26 | +2.15% |
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*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.
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