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One of the founder of venture capital firm Andreessen Horowitz.

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Bitcoin’s ‘Five-Year Bet’ Now Has an Official Winner Between Ben Horowitz and Felix Salmon

As some of our regular readers may remember, around five years back in 2014 — a time when Bitcoin was trading between $250 and $700— Ben Horowitz and Felix Salmon appeared on NPR’s Planet Money podcast to discuss the future of digital finance. During their appearance on the show, the aforementioned individuals made a live bet regarding the state of Bitcoin in 2019. For those who may not be aware, Horowitz is a long term crypto bull and partner at VC firm Andreessen Horowitz. He has been associated with the altcoin domain for more than half-a-decade— with his business venture even pumping in millions of dollars into various cryptocurrency companies. Horowitz had predicted that within a period of 5 years, Bitcoin would not only have entered the mainstream but would have also revolutionized the way in which e-commerce payments work. In a similar vein, back in 2014 Felix Salmon who is now heading media operations for Axios, said that due to the rising price of BTC (on a near day-to-day basis), the asset would unlikely be used as a medium of exchange for daily transactions by the masses (an aspect which Felix believed would lead to the eventual demise of the cryptocoin as well). More On The Matter Horowitz and Salmon both agreed to meet after five years and assess the state of the market during their 2014 appearance on NPR’s podcast. They also agreed on an official bet, the conditions for which are as follows: “If 10% of Americans or more said they’d bought something with Bitcoin in the past month, Ben would win. If the number was lower, Felix would win.” Before declaring the winner of the bet on episode #891, Planet Money published a poll on their website in an effort to gauge whether or not BTC (or any other major altcoin) had really been able to break into the financial mainstream. Not only that, even Ipsos recently conducted a poll that took into consideration the opinions of 900 Americans who were asked the simple question: “Have you purchased anything using Bitcoin as your payment within the past month?” In response, only a meager 3% of the respondents replied in the affirmative. As a result of losing the aforementioned bet, Ben now owes Felix a pair of size 11 socks (as well as some of his pride).
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Ben Horowitz: Trust and Programmable Money

💰Get on the Waiting List ★ http://yen.io From a much larger talk with Ben: https://techcrunch.com/video/even-harder-things-with-ben-horowitz-andreessen-horowitz-disrupt-sf-2018/ // GET THE APPS 💰 Social Exchange - http://yen.io 🚀 Market Cap - http://coinpuffs.com 💥 Stay Woke - http://cryptoyum.com 📚 Free Email Course - http://10daysofbitcoin.com // GET STARTED 🚀 Become a Cryptonaut - Support us on http://patreon.com/pub 💻 Join us at the PUB! - http://thebitcoin.pub 💰Get a Coinbase Wallet! - http://dctv.co/dctv-coinbase - Sign up! // WE DO SOCIAL 🔑 Decentralized Newsletter - https://dctv.co/dctv-news 📔 Twitter - https://dctv.co/dctv-twitter 💻 Google+ - https://dctv.co/dctv-googleplus ✏️ LinkedIn - https://dctv.co/dctv-linkedin 💻 Medium - https://dctv.co/dctv-medium Music by Charles Giovanniello, a Bitcoin Pub community member! Note: This is not financial advice as all investing is speculative. Have fun and good luck!
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Ben Horowitz Says Crypto Developer Activity is Highest Since Internet’s Rising Experience

Ben Horowitz Says Cryptos Experience the Highest Developer Activity Since Internet Cryptocurrencies are experiencing the highest developer activity since the internet says Ben Horowitz. The legendary investor is the co-founder of Andreessen Horowitz and has always been giving insights about the cryptocurrency market. During a conversation at TCDisrupt, Mr. Horowitz said that both blockchain technology and cryptocurrencies should be considered as a new computing platforms. He mentioned that every 20 years there are new developments that end up becoming new and revolutionary platforms. Ben Horowitz explains the rise of crypto #TCDisrupt pic.twitter.com/fTGndiKhcw — TechCrunch (@TechCrunch) September 10, 2018 Horowitz explained that cryptocurrencies work in a similar way than older platforms. It’s slow, it’s complex but it has one feature that it has never existed before: trust. For him, this is a very important thing because it is powerful, users do not have to trust third parties to participate in the network. Moreover he said that developers have a completely new world, since they can build new applications such as money. It is possible to program law, money, digital property. It is not necessary to trust a platform, another third party or a judge or lawyer. Then he talked about initial coin offerings (ICOs). He compared them with the dot-com bubble. About it he mentioned: “Somebody at the office said the other day: ‘Not all ICOs are bad but all bad companies have an ICO. I think that’s right.” Horowitz said that companies back in the 90s were adding ‘dotcom’ to their names, something that helped them skyrocket in the market. However, after it, they experienced a sell off and did not contribute to the overall genuine growth of the space. The same is happening nowadays with some companies in the cryptocurrency market. They are changing their names adding the word ‘blockchain’ to receive an influx of new investors. Nonetheless, in a very short period of time, they fall to previous price levels. Back in July, Aragon co-founder Luis Cuende, said that there is a new wave of developers that are entering into the space. About it he mentioned: “I don’t know any good Ethereum developer that isn’t a millionaire, and it’s only a matter of time before it will become a gold rush among developers to learn the technology.” The number of developers using Ethereum has increased exponentially in the las months. Additionally, several universities and colleges are working with its platform. At the moment, the cryptocurrency market is expanding. Companies are testing different solutions and new merchants are starting to accept virtual currencies as a means of payment. Both Bitcoin and Ethereum are going to see huge updates in the middle-term including the Lightning Network (LN), and Sharding and Plasma n Ethereum. This increased activity in the number of developers working in the space means that cryptocurrencies are useful and that we need to wait until they will become mainstream.
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Ben Horowitz of Andreessen Horowitz: Bitcoin as Store of Value is the Leader

Ben Horowitz represented Andreessen Horowitz, a top VC fund in TechCrunch Disrupt conference in San Francisco. He spoke about crypto fund of his company and their disruptive position. When asked about the venture in the crypto space, Horowitz responded that there was more developer activity in the cryptocurrency space and that it has been more than anything that “we’ve seen since the internet”. He called it a new computing platform, painting parallels between the evolution of computing from mainframes to PCs to smartphones. In his words: “The thing that’s deceptive about it is when the new platform at the time is generally worse, in most ways, than the old platform, but has some new capabilities. With crypto, it’s very similar in that it’s worse in most ways than the old computing platform. And that it’s slow. It’s really complex. It’s lacking a lot of features. But it has one feature that has never existed before. And that’s trust.” Horowitz embellished on the trust that can be displayed upon the true application of blockchain, asserting that it is “super powerful”. Furthermore, he repeated the fact that the trust came from “mathematical and game theoretic properties of the platform”. He called cryptocurrencies a “really transformational idea”, thus leading to a lot of ideas and projects being formed currently. When asked about whether he was interested in the identity and authentication based applications of blockchain or the currency aspect, Horowitz added: “I think that so there ’s kind of store value and that Bitcoin is obviously the great kind of leader in the store of value. And I think that that’s a relatively, it’s very valuable, but it’s probably less interesting from a technology standpoint that kind of the other side, which are, you know, kind of crypto networks, and things like Ethereum which is the world’s computer and so forth.” Horowitz also articulated explicitly about Bitcoin [BTC], affirming that there was no other use for it than “storing your money”. He went on to say: “There’s not that much you’re going to do with Bitcoin, but it’s not really a platform that developers turn to.”
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Bitcoin [BTC] is the “leader in store of value”, says Ben Horowitz

Ben Horowitz from Andreessen Horowitz, a top VC fund, recently appeared at TechCrunch Disrupt conference in San Francisco to speak about the cryptocurrency fund at his company. He also spoke about cryptocurrencies and their disruptive position, programmable money and trust. When asked about whether there was “real stuff out there” in the cryptocurrency space, Horowitz responded that there was more developer activity in the cryptocurrency space, and that it has been more than anything that “we’ve seen since the internet”. He called it a new computing platform, drawing parallels between the movement of computing from mainframes to PCs to smartphones. He stated: “The thing that’s deceptive about it is when the new platform at the time is generally worse, in most ways, than the old platform, but has some new capabilities. With crypto, it’s very similar in that it’s worse in most ways than the old computing platform. And that it’s slow. It’s really complex. It’s lacking a lot of features. But it has one feature that has never existed before. And that’s trust.” Horowitz elaborated on the trust that can be exhibited upon the correct application of blockchain, stating that it is “super powerful”. Moreover, he reiterated the fact that the trust came from “mathematical and game theoretic properties of the platform”. He went on to say: “That means that you don’t have to trust the government, or Twitter and Facebook, or the other people, even on the network. You just have to trust math. And that opens a very interesting world for developers because you can build new applications like money. Which nobody’s ever been able to program money before, but now you can.” He called cryptocurrencies a “really transformational idea”, thus leading to a lot of ideas and projects being formed currently. When asked about whether he was interested in the identity and authentication based applications of blockchain or the currency aspect, Horowitz stated: “I think that so there there’s kind of store value and that Bitcoin is obviously the the great kind of leader in store of value. And I think that that’s a relatively, it’s very valuable, but it’s probably less interesting from a technology standpoint than kind of the other side, which are, you know, kind of crypto networks, and things like Ethereum which is the world’s computer and so forth.” Horowitz also spoke specifically about Bitcoin [BTC], stating that there was no other use for it than “storing your money”. He went on to say: “There’s not that much you’re going to do with Bitcoin, but it’s not really a platform that developers turn to.” Horowitz argued that there was no trust and security enforced on the blockchain without miners, thus making a blockchain without cryptocurrency not viable. As the incentives for miners to secure the network is block rewards, there exists no incentive if cryptocurrencies do not exist on that blockchain. On the market, he stated: “It’s going to bubble up and down and people are going to be into it and not into it and so forth. But that’s how the internet went. That’s how these things go. You know, people get very excited when they get, you know, super scared.” The post Bitcoin [BTC] is the “leader in store of value”, says Ben Horowitz appeared first on AMBCrypto.
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Ravencoin Grows 20% And Continues to See RVN Token Surge in the Crypto Market

There are several altcoins that are registering interesting growth rates in the last weeks. This time, Ravencoin (RVN) was able to pump once again over 20% in just 24 hours. Although Bitcoin keeps being traded sideways, there are some altcoins that are behaving very positively. Ravencoin Spikes 20% Ravencoin was able to grow 20% and […]
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Bitcoin [BTC] Futures in good stead against its Spot equivalent: Bitwise Report

Bitcoin [BTC] Futures were thought to be a snippet of the overarching cryptocurrency market, though meager in comparison to the larger spot market. A recent report from Bitwise Asset Management, the crypto-centric investment firm has stated otherwise. In a March 20 report presented to the United States’ Securities and Exchange Commission [SEC], Bitwise analyzed the Chicago Mercantile Exchange [CME], and the Chicago Board Options Exchange, with ten prominent cryptocurrency exchanges’ in terms of their trade volume. Prior to shedding light on their Futures versus Spot findings, it must be noted that the report revealed that 95 percent of the trading volume of unregulated exchanges were seemingly “fake and/or non-economic wash trading”. Taking into account this disparity, the percentage of futures volume to their spot equivalent increases from 1.51 percent to 33.33 percent. Reported Spot volume totaled $6 billion, but after removing the “suspicious exchanges”, the actual volume recorded dropped to $273 million, in comparison to the futures market volume of $91 million. Furthermore, the increase in futures’ volume as a percentage of the spot market has been steadily increasing. From November 2018 to January 2019, the futures market was just over 15 percent, and almost doubled in February 2019 to 33 percent. Since the Futures contracts were approved in December 2017, only on two occasions did the Futures volume, in comparison to the Spot market, shoot above 20 percent; this was in May and August 2018. Futures Volume expressed as a percentage of their Spot Equivalent In terms of their stand-alone trade volume, the CME and the CBOE are in good stead against the world’s top cryptocurrency exchanges. The daily volume the CME, which brings in $84.82 million, ranks second behind Binance’s $110.5 million and ahead of Bitfinex, which records $38.06 million in daily trade volume. The CBOE also fairs well, taking the ninth spot on the ladder, ringing in $6.12 million in daily trade volume. Gemini takes the eight spot with $8.11 million and itBit caps off the top-10 with $5.58 million in daily volume. Notable, among the top-12, eight exchanges are registered within the United States. Despite the CBOE’s comparative success against the spot exchanges’, it has not been performing well against its cross-town rival, the CME. This slump forced the CBOE to delist their Bitcoin Futures [XBT] for March 2019. However, the XBT futures that are yet to expire later in the year will not be off-loaded prematurely. Bitwise also points out that the CME Futures Price tracks the Global Spot Price based on an arbitrage model. Given below is a chart attesting the same: Arbitrage between the CME Futures price and the global Spot price The post Bitcoin [BTC] Futures in good stead against its Spot equivalent: Bitwise Report appeared first on AMBCrypto.
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How Cryptocurrency Trading Volume Fiasco Can Lead to Bitcoin ETF Approval

The SEC has held the ETF approval for Bitcoin and Cryptocurrency for a couple of reasons. The most significant reason for the same has been the unregulated marketplace. While decentralization in Bitcoin is an attribute that makes it an ideal asset class, the market places or Exchanges that provide for conversion of FIAT to Cryptocurrency is still controlled by independent entities. A recent report by Bitwise Asset Management published by the SEC inferred that more than 95% of the cryptocurrency volume is being faked. Hence, according to that, the ‘actual spot volume’ on cryptocurrency exchanges is a little above $270 million. Moreover, the reported volume of CME and Cboe Bitcoin Futures is more than one-third of the ‘actual spot volume’ estimated by Bitwise. According to Bitwise Asset Management, This is good news because it means CME— a regulated, surveilled market— is of material size, which important for an ETF. The case of a Bitcoin ETF Approval Now CME Bitcoin Futures reported a spot trading volume of $85 million. Moreover, according to Bitwise Asset Management, the actual trading volume of the Crypto-to-FIAT Exchanges is around $273 million. Hence, according to this statistic the Futures Trading Volume of CME alone accounted for 31.1% of the ‘Actual Exchange Volume.’ Moreover, there are other Bitcoin Futures market active in Europe and Japan as well. Hence, going by the above statistic, it can be said that the institutional investment might be in parity with the unregulated investment in Bitcoin. However, the Exchanges have reported total spot volumes total to the tune of $6 billion. This can necessarily raise doubts on its demand being higher than $100 billion. However, it does not directly affect the total market capitalization of a cryptocurrency.   Parity Between Spot Trading of Bitcoin and Gold The spot trading volume of Gold is 0.55% of its total market capitalization, while according to Bitwise statistics spot ‘actual spot trading on Bitcoin is 0.39%. If the CME Futures volume is included in this data, the percentage will increase to 0.51%. The OTC trading volume on most exchanges is also not added in the Exchange Data. All this suggest that the institutional investment in Bitcoin is considerably more significant than one expects. It is not only healthy in volume but also agrees statistically with the closest relatable asset class, i.e., Gold. Hence, a new form of informational mechanics for the trading of Bitcoin and Cryptocurrency in regulated Exchanges could alleviate the doubts around the Bitcoin ETF approval.   The post How Cryptocurrency Trading Volume Fiasco Can Lead to Bitcoin ETF Approval appeared first on Coingape.
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Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA

Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. […] Cet article Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA est apparu en premier sur Bitcoin Central.
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