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Founder of BTCC.

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Bobby Lee: Bitcoin Will Overtake Gold’s Market Cap By 2028

The former CEO of one of the most popular Bitcoin exchanges from a couple of years ago, Bobby Lee, said in an interview that he expects for Bitcoin t overtake gold in less than ten years. He also shared his thoughts on Facebook’s Libra, as well as the increased interest in the field coming from China. Bitcoin To Overtake Gold in 10 Years In a new interview, Bobby Lee, the former CEO of Bitcoin exchange BTCC, shared his thoughts on some of the most pressing matters within the cryptocurrency field. One of the main topics of the discussion was the comparison between Bitcoin and Gold. Lee said that he is a big fan of gold, but he still considers that Bitcoin will overtake it in terms of total market capitalization. One of the main topics that he talked about was the debate between gold and Bitcoin. Even though Lee admitted that he is a big fan of gold, he believes that Bitcoin will overtake gold in terms of total market capitalization, which might seem like a difficult task at the moment. According to the crypto veteran, the estimated physical gold is around 180,000 tons, which, at current prices, puts its capitalization at around $9 trillion. One can quickly see how it might be a challenging task for Bitcoin to match this, given its current market cap of around $150 billion. However, Lee basis his merit on Bitcoin’s digital scarcity and touches upon the three upcoming halvings within the next nine years. These events slash the total supply of Bitcoin in half, and according to the expert, they might have a significant impact on its price. They are supposed to take place by 2028, with the next one being just around the corner, estimated to take place in May 2020. It’s worth noting, however, that for Lee’s prognosis to come true, a single bitcoin would have to be worth just shy of $500,000, given the current circulation. Libra and Chinese Influence The expert also talked about the recent surge of interest in blockchain-based technologies coming in from china. His comments come weeks after the country’s President, Xi Jinping, pushed for further adoption of distributed ledgers within different industrial segments. According to Lee, who currently resides in China, this isn’t something to get overly excited about. He said that he “wouldn’t hold his breath” until he sees an end product. However, he also reiterated that a government-backed stablecoin might be a massivehuge thing for the industry. Moreover, it could also help China take the lead from the US as a predominant world economy. Another exciting thing that Lee talked about was Libra. He shared that he likes the project, despite the controversies around it. He said that private companies should be allowed to create their cryptocurrencies similar to governments. Featured image courtesy of Yahoo Finance The post Bobby Lee: Bitcoin Will Overtake Gold’s Market Cap By 2028 appeared first on CryptoPotato.
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Bobby Lee States His Support Of SegWit2x Hard Fork Was Wrong

Bitcoin industry veteran Bobby Lee said he was mistaken in his support for the failed SegWit2x hard fork, calling it "extremely dangerous and irresponsible." Recall in May 2017, key players ... Запись Bobby Lee States His Support Of SegWit2x Hard Fork Was Wrong впервые появилась Bit.news.
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‘Extremely Dangerous’ — Bobby Lee Regrets Backing Bitcoin SegWit2x

‘Extremely Dangerous’ — Bobby Lee Regrets Backing Bitcoin SegWit2x Bitcoin’s (BTC) failed hard fork attempt from 2017, SegWit2x, was “extremely dangerous and irresponsible,” says a CEO who was formerly one of its biggest supporters. In a series of tweets on Nov. 16, Bobby Lee admitted he was wrong to tout the long-dead Bitcoin scaling solution. […] Cet article ‘Extremely Dangerous’ — Bobby Lee Regrets Backing Bitcoin SegWit2x est apparu en premier sur Bitcoin Central.
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Quotes, Week 23 ’18

Bobby Lee, Brad Garlinghouse, Robert Sluymer, Brian Stutland and Adena Friedman speaking on cryptocurrency and blockchain issues.

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Bitfinex announces collaboration with ODEM to spur crypto, blockchain education

Bitfinex, one of the world's noted crypto-exchanges, has announced a strategic collaboration with ODEM, an on-demand education and employment marketplace, to expand cryptocurrency and blockchain educaThe post Bitfinex announces collaboration with ODEM to spur crypto, blockchain education appeared first on AMBCrypto.
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Orchid to Debut A Privacy VPN Network Based on Token Technology in December

Orchid, a Virtual Private Network provider, has announced its plan to roll out a token-powered (OXT) network and an application during the first week of December. The company majors in offering decentralized VPN and is also a platform where node providers can trade in tokens for advertisements using the Ethereum blockchain tech. “We will be […]
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How to buy and store Ethereum (ETH)?

Almost all activities, on the Ethereum network, are powered by its native crypto token Ether or ETH. ETH boasts of a $20 billion market cap and a circulating supply of ~108 million coins. This makes it the second-largest cryptocurrency by market cap.  The Ethereum network token entered the cryptocurrency trading arena in 2015. According to CoinGecko, since launch, ETH has registered a 2800 percent increment in price to date. Although Ether is down almost 87 percent after hitting all-time highs at ~$1500, it is pretty much an attractive alternative investment option because of the overall appeal of Ethereum, as a decentralized computing platform.  Many see ETH as a much more promising crypto investment option than bitcoin. Few Fortune 500 companies and financial trust Ethereum. They recognize it as the de-facto blockchain platform for building next-generation applications and monetary settlements.  For all of these reasons and more, many investors are rapidly adding ETH to their portfolios. But how does one buy Ether? And from where?  Buy Ethereum (ETH) on Crypto Exchanges Probably the easiest way to get some Ethereum network tokens is from a well-established cryptocurrency exchange operating in your country.  ETH enjoys massive popularity within the crypto community due to its demonstrated decentralized use case. Any crypto exchange will surely have Ether listed for buying and selling.  Choosing a Suitable Crypto Exchange While locking onto a particular exchange, some preliminary research needs to be done. Cryptocurrencies by their very nature are assets that come with high risk and equally high rewards. Consequently, the fledgling space also attracts a lot of fraudsters. So, it is mandatory to do your due diligence before picking a platform to buy Ethereum.  Crypto exchanges need to have well-established headquarters a genuine team (probably with a good Twitter, LinkedIn presence), well-responsive support, decent liquidity and security of trading funds, etc. Some well-recognized names are Binance, Bitfinex, Coinbase, Kraken, eToro.  Registering on The Chosen Crypto Exchange After choosing a suitable crypto trading platform, you would be required to register yourself as a legitimate user.  That means you will have to provide a few personal details as KYC (Know Your Customer) which confirms your status as a bonafide citizen of the particular country or state where you reside. This is done by exchanges just so that they are in line with global Anti-Money Laundering (AML) regulations.  After exchange officials verify your details, its time to use your newly opened crypto trading account to buy ETH. But for that, you need to deposit some fiat currency first. This should be relatively easy as all your details (including banking information) were okayed for trading.  Depositing Fiat Funds to buy Crypto Simply add money through your bank account or debit card on file. Cryptocurrency exchanges do not generally have high minimum investments. You can invest as little as $5 or as much as $1,000 or more. This is of course, based on the country or location of your residence, and the official currency in circulation.  Funds generally can some time to appear in the ‘fiat account’ of your chosen crypto trading platform. This depends on the bank and exchange transaction processing speeds, protocols, etc.  Once the fiat deposit happens, you can instantly use it to buy Ether. But remember to go through the current rates and trading volumes.  Buying Ethereum with Stablecoins or Other Crypto Assets In the past 2 years, there has been a gigantic upsurge in ‘crypto-to-crypto’ purchases. The proliferation of fiat-backed stablecoins like Tether (USDT) and rising bank restrictions on crypto purchases with credit/debit cards and wire transfers has led to the same.  It’s very simple buying ETH in a crypto-to-crypto (C2C) arrangement. All you need is some Bitcoin as it is considered the benchmark crypto asset for all C2C transactions or a US dollar-backed stablecoin like USDT or USDC (USD Coin) which is easily available on peer-to-peer trading exchanges. These platforms let users exchange actual fiat with fiat stablecoins, which you can use to buy the Ethereum token.  Withdraw Ether (ETH) into a ‘Private Wallet’  An important step follows your ETH purchase. It’s important that you transfer the funds into a cryptocurrency wallet, which you control. Storing your crypto funds on exchanges is not out of risk. A great lot of them have fallen prey to notorious hacks in the past. The recent one to get hacked was Binance, the largest crypto exchange by trading volume. It shows how unsafe your crypto funds can be, even with dominant trading platforms.  Hence, it is advised to store your crypto on a wallet where you control the private keys. Some examples of companies selling such ‘cold wallets’ are TREZOR, Ledger, KeepKey. Alternatively, you could use software wallets like Exodus, TrustWallet, etc. For Ethereum though, you have something called ‘light client wallets’ which are widely used by ETH investors. They are MyEtherWallet, Atomic Wallet, etc.   The post How to buy and store Ethereum (ETH)? appeared first on Bitcoinist.com.
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PreMarket Prep Recap: Chuck Talks To TD Ameritrade, Macy's Wins The Retail Limbo

Some deals on Wall Street are rumored and come to fruition, while others come out of the blue and shock everyone. On today's PreMarket Prep Show, reports of the potential acquisition of TD Ameritrade (NASDAQ:AMTD) by Charles Schwab (NASDAQ: SCHW) was scrutinized at the top of the show. Cannibalize The Industry? To co-host Dennis Dick, this deal and price action make no sense at all from an investor standpoint. Certainly the synergies are there for the two companies, but what's puzzling to him is why would investors pay more for Charles Schwab or the combined companies than they would before commissions were eliminated? Obviously he's not the only one asking this question. Both stocks opened at their highs for the session, had steep declines and now are on the rebound. Low Bar Not Low Enough For Macy's To Clear Based on a few of the other retailers that delivered disappointing earnings so far, Macy's (NYSE: M) didn't have high expectations to meet to instigate a rally. ...Full story available on Benzinga.com
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