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Circle CEO: Bitcoin Price Will Boom In Years To Come

As the Bitcoin price has fallen throughout 2018, investors have sought solace in chaotic waters. Case in point, consumers en-masse have latched onto institutional forays, promising crypto-centric platforms, and ambitious price predictions from this industry’s finest in a bid to stay afloat. Investors’ thirst for the latter was quenched on Friday, as Jeremy Allaire, CEO of the Boston-based fintech upstart Circle, sat down with CNBC’s Squawk Box. What does the future hold for bitcoin? Circle CEO Jeremy Allaire said he thinks three years from now "it's certainly going to be worth a great deal more than it is today." — CNBC (@CNBC) December 14, 2018 Jeremy Allaire Bullish On Bitcoin Price, “Tokenization Of Everything” In a short interview with the outlet, Allaire, a long-time internet entrepreneur, opened up his segment by claiming that from a fundamental perspective, Bitcoin (BTC) and Ethereum (ETH) both look oversold. The Circle chief claimed that the “amount of usage” on the two networks justify higher short-term valuations for their respective assets. Discussing the same topic from a long-term outlook, Allaire noted that while he isn’t exactly inclined to issue “significant price predictions,” he sees abounding potential in a network like Bitcoin, a system that facilitates a non-sovereign, store of value, and digital gold-like asset with a clear underlying thesis. Related Reading: Prominent CEO: Bitcoin Isn’t Digital Gold Yet, But $10,000 Is Still Possible Keeping this in mind, the American claimed that he “it is certainly going to be worth more than it is today” in three year’s time, before maintaining that he is “long” on the Bitcoin price, even as bears roam free. Articulating what is behind his nebulous, yet bullish forecast, Allaire stated: “The key thing with bitcoin is [that] it’s unique in its security and scale. And as an idea that we need a scarce [and] non-sovereign store of value that individuals can hold, and hold in a protected fashion, [Bitcoin] is attractive all around the world.” By the same token, Allaire, who doesn’t seem to embody the hallmarks of a Bitcoin maximalist, went on to note that he envisions a future filled with millions of crypto assets, whether they take the form of security, commodity, or utility tokens. In short, the long-time crypto advocate noted that he doesn’t believe cryptocurrencies are a “winner takes all” scenario, instead, he made it clear that a multitude of projects can live in relative harmony, due to this innovation’s ground-breaking potential. Allaire isn’t the only industry insider to have appeared on CNBC to laud cryptocurrencies and their potential for the long haul. As reported by NewsBTC previously, Michael Bucella, a Goldman Sachs executive turned BlockTower Capital partner, made it clear that as the “smartest money is moving into” this industry, long-term legs upward are likely. Expanding on what he meant by “smartest money,” Bucella drew attention to the interest that MIT, Harvard, Stanford, and Yale have endowed onto cryptocurrencies and the firms maintain this ecosystem. Featured Image from Shutterstock Circle CEO: Bitcoin Price Will Boom In Years To Come was last modified: December 16th, 2018 by Nick ChongThe post Circle CEO: Bitcoin Price Will Boom In Years To Come appeared first on NewsBTC.

Circle CEO Jeremy Allaire Is Convinced Bitcoin Prices Will Continue To Rise Within Next 3 Years

Jeremy Allaire The Circle CEO Is Convinced That Bitcoin Prices Will Continue To Rise Jeremy Allaire, the CEO and Co-Founder of Circle recently stated that Bitcoin prices will continue to increase in the coming years. In his three year forecast, he also noted that the rise of BTC prices would effectively lead to a spike of all crypto-related valuations. Circle, which is backed by Goldman Sachs is a company focusing on peer-to-peer technology payments. Although Jeremy remained cagey about stating an expected price in his forecast, he did predict that the price of a single Bitcoin would be much higher than it is today. He went on to state that he is not in the business of making price predictions, but in his analysis, bitcoins will be worth much higher than they are worth today. In the interview conducted by CNBC, Jeremy stated that he has a futuristic outlook on the cryptocurrency market. When pressed on the factors that would make venture capitalists who lost coinage in the last bear bazaar want to come back and re-invest, he commented by pointing out that the fundamentals associated with the cryptocurrencies have not changed. The only thing that has changed is their prices, a fact that can be attributed to market forces. BTC As A Non-Sovereign Supply Of Worth Although its daily prices are subject to changes, Jeremy is of the opinion that BTC continues to play an important role when it comes to storing value. This is made possible by the fact that bitcoin is quite unique, something that can be seen in its scale as well as in the security measures that it has put into place to safeguard its users. Allaire went on to explain that Bitcoin can effectively play the role of a scarce and non-sovereign stockpile of value given that its users can be able to hold on to it in a sheltered manner. This is something that has over the years proven to be attractive and a hit with users all over the globe. Although there are many worrywarts who have come out to claim that bitcoin is on its deathbed, Jeremy is not convinced that this is the case. According to him, the cryptocurrency is bound to survive the bear market, as will other cryptocurrencies. By doing so, they will end up being stronger and more valuable to those who choose to hold on to them over the long haul. Allaire was, however, quick to point out that not all the cryptocurrencies in existence today would make it in the long haul. The point being that overcrowded markets are often filled with many competitive forces, making the market a zero-sum game. In short, the death or success of a single cryptocurrency does not always need to affect the success or fall of the others. The Future Of Crypto Lies In Tokenizing Everything Jeremy holds the opinion that the cryptocurrency market will not end up being a winner takes it all scenario. The reason being that crypto assets are set to become the future of everything the world holds dear today. It can be seen in the fact that the current cryptocurrencies have virtually taken over various financial assets already in existence today.
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Bitcoin [BTC] is moderately oversold while Ethereum [ETH] is significantly oversold, says Circle CEO

The cryptocurrency market has been severely affected by the persistent bear attacks, with several coins seeing a marked downtrend. The price fall has not stopped a lot of popular officials in the space from coming out in support of the market as evidenced by a recent interview given by Circle’s CEO. Jeremy Allaire, the Chief Executive Officer of Circle, recently spoke to CNBC about the current bear predicament and what the future holds in store for Bitcoin [BTC] and Ethereum [ETH]. The Circle executive stated that analysts look at the actual usage of platforms and the hundreds of digital assets present right now only contribute to making the market bigger. He added that the core usage and value of a cryptocurrency are correlated and that is clearly shown by Bitcoin and Ethereum. In his words: “Bitcoin and Ethereum have both decoupled due to overselling. Bitcoin has been moderately oversold while Ethereum is significantly oversold.” Allaire also opined on the cost of Bitcoin mining and said that the difficult rate adjusts every 10-14 days, a period when the hash rates start going down. The CEO then focused on the regulations surrounding the cryptocurrency market and claimed that the United States is far ahead of other countries in terms of clarity on regulatory data. According to him: “Circle and Coinbase have gained clear regulatory clarity over the past five years and we have discovered what is missing in the market. There is a collection of commodity markets and digital security markets in the space right now. There has to be a clear distinction between the two with clarity and guidance.” Jeremy Allaire elucidated on how Circle has been in touch with Congressmen and policymakers with the aim of pushing cryptocurrencies into the realm of mainstream usage. He believed that Bitcoin will be much more valuable than what it is right now because of its characteristics. Bitcoin is unique in security, scale and the idea of having a sovereign store of value is something that the people want, stated Allaire. He said: “The market does not have a winner take all scenario. In the future, there will be millions of tokens where the concept of a cryptographic token will be widely accepted. Bitcoin will come out of its slum and be valued at a much greater price than what it is right now.” The post Bitcoin [BTC] is moderately oversold while Ethereum [ETH] is significantly oversold, says Circle CEO appeared first on AMBCrypto.

Bitcoin to Be Worth ‘Great Deal More’ in Three Years, Circle Co-Founder Says

Bitcoin to Be Worth ‘Great Deal More’ in Three Years, Circle Co-Founder Says Jeremy Allaire, co-founder of crypto finance company Circle, told CNBC in an interview Friday, Dec. 14, that Bitcoin (BTC) will be worth “a great deal more” than it is now. When asked about the Bitcoin price in three years, Allaire told Squawk Box […] Cet article Bitcoin to Be Worth ‘Great Deal More’ in Three Years, Circle Co-Founder Says est apparu en premier sur Bitcoin Central.
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Bitcoin Price Will Soar over Next Three Years: Circle CEO Jeremy Allaire

The bitcoin price will rocket over the next three years, and cryptocurrency valuations will spike accordingly, says Jeremy Allaire, the co-founder and CEO of Circle, a peer-to-peer payments technology company backed by Goldman Sachs. While Allaire was reticent to set a specific bitcoin price target, he predicts that its value will unquestionably be a lot higher in The post Bitcoin Price Will Soar over Next Three Years: Circle CEO Jeremy Allaire appeared first on CCN
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Crypto Bear Market is So Bad That an ICO is Day Trading its Holdings

Every day, the crypto market is on the verge of entering darker territory, and as prices continue to plunge, many cryptocurrencies have become the victims of sudden sell-offs. An initial coin offering (ICO) called Substratum has even taken to day trading its present ether holdings to make up for potential losses. In a YouTube video, a figure named Justin from the Substratum network announces that the company is opening the doors to a token swap set to begin on Monday, December 17. The smart contracts for the company will begin then and batch transactions will start happening over the Ethereum network. Old Crypto Becomes New Crypto Prior to this date, executives will be moving any remaining Ethereum tokens in their crowdsale wallet over to a new wallet. If a person’s tokens are on Binance, the switch will be occurring natively through the exchange. Thus, customers will not need to worry. If a customer’s tokens are locked up in a wallet for an airdrop, they too will not need to take any steps. The move from the present wallet to the new wallet will occur on its own time. All older tokens will become frozen and unusable while the new tokens will be transferred into customers’ wallets. The company is also moving from two decimal places to 18 decimal places, which representatives claim will make transactions faster and more efficient. The smart contract has been fully audited by Quantstamp; furthermore, 120 million old tokens have been burned thus far. They will not be coming over through the transfer but will rather disappear into what Justin calls “the ether.” These tokens are set to disappear completely. The transfer will not be done within a set timeframe. The transfer is indefinite and will last until all customers’ wallets have received their new tokens. Predicting What the Future Holds Substratum now has a full-time trader on staff, who has suggested that Ethereum is going to be continually tested over the coming months. The bear market is not letting up and he has stated that Ethereum could fall to as low as $60. Executives are not necessarily looking to cash out. Instead, they will be trading only a portion of the Ethereum they possess, which they claim will give them the chance to “trade up” and potentially earn a little revenue before the crypto market falls any further. Once the market becomes bullish again, Justin claims in the video that Substratum will be in a better place and will be able to create newer (and better) products. Do you foresee the market getting even worse before it gets better? Post your comments below. Image courtesy of Shuttershock The post Crypto Bear Market is So Bad That an ICO is Day Trading its Holdings appeared first on Live Bitcoin News.
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States Take Cryptocurrency Regulation Into Their Own Hands As US Federal Government Focuses On Blockchain

States Take Regulation Of Cryptocurrency In Their Own Hands, As US Federal Government Focuses On Blockchain Technology The regulation of cryptocurrency has been an ongoing problem for the United States (US). They have managed to outline particular processes involved with blockchain technology and have many trials that examine the way that it works in their industries. However, the fact that even government authorities have different classifications for the same token groups makes it hard to know how to handle them. As a result of the confusion, any states are working to become the friendliest places for cryptocurrency. Ohio even made an announcement recently that they would allow their residents to cover taxes with the use of crypto payments. In the meantime, the authorities are still in a state of confusion with defining and regulating the assets that clearly are in demand for residents. The ones making the most noise about the lack of organization of the federal policies aren’t stakeholders or even enthusiasts; these concerns also involve academics. Carol Goforth, a professor at the University of Arkansas, recently noted that there are presently four different regulators within the federal government that oversee how digital assets are dealt with, from their categorization to their issuance, and further. These four entities are the: Commodity Futures Trading Commission (CFTC) Securities and Exchange Commission (SEC) Financial Crimes Enforcement Network (FinCEN) Internal Revenue Service (IRS) The CFTC sees crypto assets as commodities, though the IRS shares a similar view in calling them property. The FinCen, which is run by the Treasury Department, regulates them with the same rules as fiat currency, but the SEC sees them much differently as securities. Professor Goforth expressed her skepticism that the regulatory entities would work together anytime soon, leading her to encourage the coordination between them for a more nuanced approach. As she puts it, her version of the rules would force the federal government to deal with each cryptocurrency as it is introduced, specifically identifying them by their functionality and the motivations of users. This is a path that at least one instance shows is happening within the federal regulators. The CFTC publicly requested details on the functionality of Ether and the Ethereum Network on December 11th. The document has 25 different questions that deal with the platforms purpose, functionality, scalability, and more. However, the effort to address a single asset by the CFTC isn’t necessarily a sign that the industry is turning towards the idea that the professor had in mind. None of the other regulators have taking this move and are holding on to the regulatory measures that they already have in line. Still, there’s always a chance that congressional legislators will make some changes in their framework. Darren Soto and Ted Budd, who are both US Representatives, brought in two bills on December 6th that will help with the improvement of regulatory framework and reduce the risk of price manipulation. These bills are called the Virtual Currency Consumer Protection Act of 2018 and the U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2018, respectively. These two bills offer specific regulatory changes that could be made for the process to be smoother for exchanges, users, and everyone else involved. The first bill discusses that many situations that can arise in the market for price manipulation. The other requests an in-depth study that aims to improve the “burdensome regulations that may inhibit innovation.” Warren Davidson, the representative of Ohio, spoke at a conference in Cleveland where he noted his intent to bring in a new bill that would create a new asset class for tokens. As such, the regulation of initial coin offerings (ICOs) would become significantly less difficult. A week later, Davidson suggested a crowdfunding event to help with the creation of the US-Mexico border wall, which would include the use of blockchain and “wall coins.” Even though there appears to be a significant lack of clear regulations regarding cryptocurrency, blockchain technology is already being applied to daily operations. The use of this ledger with supply chain logistics is easily its biggest application, and federal authorities are looking to use it for food safety as well, especially considering the recent E. coli outbreak. The Department of Homeland Security announced their intention to use the technology as a way to protect their own activities. Their three subsidiaries are working together for a clear record of documentation that will help with fraud, counterfeiting, and forgery. The defense authorities for the federal government recently established an app that would help the members of the armed forced to learn how to use blockchain technology for the supply chain as well.
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Bitcoin Supporter Says Crypto is Unconfiscatable as Long as It’s Not in Regulated Exchanges

Bitcoin has many different features, but one of the most important is the fact that users are the real owners of their funds as long as they keep their private keys. However, when users have their funds stored in exchanges, Bitcoin can be confiscated. During a Q&A session during a Tampa Meetup, he said that Bitcoin being non confiscatable applies to exchanges that are not regulated. In general, centralized virtual currency exchanges are not a safe place where to store funds. The company behind the exchange is able to manage the funds as it considers, block some accounts and even experience security issues. If Bitcoin wants to remain non confiscatable, the best what a person can do is to store them in cold storage wallets. No one is able to move the funds from there unless they have the private keys. At the same time, he said that Bitcoin does not have just a single price because there are different markets listing it. He compared the price of Bitcoin (BTC) with Apple stock explaining that Apple’s stock price is determined by supply and demand in just one place. He has also talked about Bitcoin ETF and the fact that to have a stable price of Bitcoin everything needs to sit in one place. He went on saying that having all the BTC in one place is a risk even when it creates a more stable market. For example, he emphasized the fact that if all the BTC are located in just one exchange, hackers might focus only on it. Furthermore, the US government would also have the possibility to confiscate the BTC that users own or trade them. There are several crypto platforms that are regulated, including exchanges such as Coinbase or Gemini. Governments would be able to confiscate the funds that users have on these exchanges, thus deleting one of Bitcoin’s main characteristics. Moreover, he said that Bitcoin being under the control of governments is not positive for the space. A lot of people would completely lose the faith in the popular virtual currency. This is exactly what Satoshi Nakamoto was trying to avoid when it created Bitcoin.
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Hong Kong Businessmen Targeted by Bitcoin Bomb Threats After Recent USA and Canada Attempts

There have been many different ways to steal funds from individuals in the cryptocurrency market. However, a new methodology has been applied in Hong Kong and other countries such as the United States. According to a recent report released by the South China Morning Post, businessmen in Hong Kong are being targeted by criminals that want to steal Bitcoin from them. These scammers try to steal Bitcoins from victims by threatening them that they will receive a bomb if they don’t send Bitcoins in the time span the scammers provide. One of the affected individuals is Michael Gazeley, the CEO of Network Box. He received a message in his business email with this Bitcoin bomb threat. Furthermore, he said that he had to pay $20,000 if he wanted to avoid receiving a bomb in his office. Gazeley said to the news outlet: “This looks like the third wave of blackmail emails plaguing the world in the past few years… I have never seen something like this, which sounds like cyberterrorism, in my 20-year career in cybersecurity.” Nevertheless, he was 99.99% sure that the message was not worth. Indeed, he mentioned that the email had some typo mistakes and the grammar used was not exactly good. That shows that the main intention is to take a few bucks from some individuals rather than really bombing an office. Hong Kong authorities did not provide further information about this issue, thus it is not possible to know the exact number of companies affected by these threats. This is not the first time that there are Bitcoin bomb threats around the world. A few days ago, as reported by NBC New York. Hoax bomb threats spread asking users to pay in Bitcoin. The New York Police Department (NYPD) informed on Twitter that there was an email circulating that contained a threat asking for a Bitcoin payment. However, they say that they did not find any devices in some of the places where the threat arrived. Please be advised – there is an email being circulated containing a bomb threat asking for bitcoin payment. While this email has been sent to numerous locations, searches have been conducted and NO DEVICES have been found. — NYPD NEWS (@NYPDnews) December 13, 2018 The NYPD went on explaining that the threats are meant to cause disruption and/or obtain money in a fast way. Although the police will be responding to the calls made by the community, they believe that the threats are likely ‘not credible.’ This is not the first time that there are scammers trying to steal Bitcoin and other virtual currencies from users. Earlier this year, scammers on Twitter were asking for Bitcoin and ETH deposits using fake accounts that stole famous people’s identities.
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