Pantera Capital CEO: In a Decade Billions of People Will be Using Bitcoin

In the expressions of the CEO of bitcoin speculation firm Pantera Capital, Dan Morehead, problematic innovations more often than not procure the title ‘classification executioners’ yet on account of bitcoin it is a ‘sequential executioner’.

Morehead said this is on the grounds that it will upset ‘handfuls’ of parts with the digital money as of now having exhibited the ability to conceivably turn the tables in some sub-areas in the monetary business.

“It’s incredible at cross-fringe cash development it’s extraordinary at putting away your riches particularly on the off chance that you live in a nation with devaluing money or capital controls, ” said in a meeting with Bloomberg.

Per Morehead, bitcoin’s greatest days lie ahead as it will be conceivable to utilize it for making ordinary exchanges, for example, espresso buys “throughout the following decades”. Also, Morehead noticed that while the advancement of the web decades prior disturbed different segments, the monetary segment was to a great extent left immaculate. Bitcoin will be that as it may, enable clients to render banks, Mastercard and settlement firms out of date by empowering distributed exchanges.

Pantera Capital’s supervisor likewise seen that one of the greatest difficulties presently confronting bitcoin is versatility as the number of exchanges every second is constrained to single digits. Morehead, in any case, communicated idealism this would be unraveled:

“So the next couple of years are all about scaling these blockchains so that they are able to handle tens of thousands of transactions per second or even hundreds of thousands…”

“Six or eight years ago there was probably a million people on earth using it, now there are 50 million people that use. I think in a decade it’s going to be billions of people using it…”

Additionally, big business has also jumped onto the blockchain and cryptocurrency bandwagon according to Pantera Capital’s boss:

“…Multinational corporations are embracing blockchain. IBM … just saw an ad for Walmart saying they are going to do lettuce on the blockchain… and stock exchanges doing bitcoin exchange… Fidelity is doing crypto custody… so it’s now reached a kind of mainstream adoption…”


Source
Author: The Coin Republic Admin
Image Credit

Forthcoming Crypto Fund Extremely Bullish on Crypto Infrastructure and Adoption

A cryptocurrency fund that is scheduled for launch early next year believes that the current slump in prices is distracting people from the ever-growing adoption rates of both consumers and investors alike.

Circuit Capital has also created an index to measure mainstream adoption of blockchain-related technologies.

Circuit Capital Index Shows Adoption is Rising, Even if Price Isn’t

According to a report in Bloomberg, the founders of a new San Francisco-based cryptocurrency hedge fund believe that the poor performance of digital asset prices during 2018 has made it more difficult to observe the ever-rising interest in the space from both consumers and investors.

Former Deutsche Bank derivatives and Circuit Capital co-founder, Eugene Ng, told the publication:

“Despite what is happening with prices, we’re seeing adoption growing and a lot of people are looking to scale crypto businesses… We are starting to see talent moving into this space and institutional infrastructure developing.”

Supporting Ng’s statements are recent moves from the likes of Coinbase, Circle, and Blockchain to expand their platforms to an institutional class of investor.

Likewise, the coming Bakkt platform from the Intercontinental Exchange (ICE) and the interest multitrillion-dollar asset manager Fidelity Investments has shown in the space also represents an evolution of the underlying digital asset investment infrastructure.

Meanwhile, many individuals are turning their backs on employment in the traditional finance sector in favour of positions at cryptocurrency startups. Recent hires by Coinbase and others are examples of such a migration of talent.

Circuit Capital is hoping to ride the next wave of investor interest. It plans to raise $30 million and launch in January 2019. Bo Nam, a former tech stock analyst and one of the four co-founders of the new fund, said Circuit plans to grow assets to over $100 million.

Completing the team of Circuit Capital co-founders is Aaron Tay, former analyst at Tikehau Capital, and venture capital investor Richard Jahnke.

The plan is for Circuit Capital to operate in both the U.S. and Asia. Tay and Ng will oversee the eastern wing of the hedge fund. Meanwhile, Nam and Jahnke will manage the company’s interests in the United States.

Circuit Capital has also developed an index to track interest in cryptocurrency and blockchain technology. It draws data from a variety of sources. These include: the number of active crypto wallets, transaction volumes, different crypto’s hash rates, hiring rates in the industry, and web searches for content relating to digital assets.

According to the Circuit Capital index there is an increasing adoption of cryptocurrency. However, prices have yet to register this heightened interest.

Presumably, since most institutional investors that have already taken up positions in cryptocurrency have done so in over-the-counter trades, and it was retail investors who drove the late 2017 up movement bearing the brunt of the crash earlier this year, it will take more recovery time before typical exchange demand increases again.

When  it does, the infrastructure will be much more prepared for huge surges in demand than it was last time round.

They’ll also be a lot less Bitcoin to buy thanks to these OTC accumulators, and we all know what reduced supply and increased demand means.


Source 
Author: RICK D.
Image Credit

Paying Bills With Crypto in Australia

Although accepting cryptocurrency may be the furthest thing from various service providers’ minds, two fintech startups in Australia have decided to let crypto holders pay their bills with cryptocurrency. Regardless of whether the business accepts crypto or not, Cointree and Gobbill are there to act as intermediaries and give adoption a much-needed boost.
LIONBIT
Cointree is a cryptocurrency exchange founded in 2013 in Melbourne that now has 56,000+ members and over AUD 100 million worth of lifelong successful transactions, according to their website. Gobbill, founded in 2015 and launched last year, is a digital finance assistant that automates bill payments using artificial intelligence for small businesses and households.

The partnership of the two businesses means that Gobbill acts as a go-between, taking the funds from its users and paying the bills on their behalf. Cointree also had its own service that lets users pay bills. However, Cointree operations manager Jessica Rendon told the Australian Financial Review (AFR) that she hoped this partnership would make it an easier process and open it up to more people who had not dealt with cryptocurrencies before.

TIP

Both of the startups are licensed: Gobbill has an Australian financial services licence under ASIC, while Cointree is licensed under AUSTRAC to meet anti-money laundering and counter terrorist financing obligations.
Gobbill co-founder Shendon Ewans thinks crypto is here to stay. “Fast forward into the future and what we’re seeing is, like it or not, this will be part of our daily lives,” he was quoted as saying by the AFR.

Crypto adoption in Australia is already well on its way. Since March 1st this year, Aussies are able to buy their bitcoin and ethereum for fiat in more than 1,200 newsstands all across the country. The state of Queensland is also investing in TravelbyBit, a business that sells travel experiences for cryptocurrency.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author: Sead Fadilpašić
Image Credit: iStock/Courtney Keating


Don’t forget to join our Facebook channel for Crypto, Business & Technology news delivered to you daily.

Crypto to be Treated as a Commodity in India as Lifting of Ban is Underway

India’s government official has revealed that the country’s Authorities are more likely to consider cryptocurrency ban and start treating them as commodities. Citing a superior government official who is more involved in the currently happening regulatory discussion in the cryptocurrency periphery, India is more unlikely to oblige a blanket ban on cryptos regardless the latest-enforced central bank authoritative command that forbids banks from offering services to the various burgeoning sector.



 

The Combined Effort In The Crypto Industry 

Earlier ago in April,  the Reserve Bank of India (RBI) released out an official circular to ban all regulated financial institutions across the country from accepting their clients to buy their cryptos via their bank accounts and stopping offering services to all cryptocurrency businesses. On July 5th, the policy of the central bank went into effect when the inter-governmental committee was established that comprises of various government ministries and local banks, chored to forthput a regulatory framework for the crypto sector last year.

However,  the official has noted that the sentiment of the blanket cryptocurrency ban hasn’t been yet considered, claiming that there is no one planning to ban cryptos altogether.

Tracking The Source Of Money 

The official further said that the committee body is more concerned with how crypto trading can be properly regulated in order to maintain a clear path of the money trail.

“Trade is not a criminal offence. Most of us trade in various asset classes in the stock market. So how is this [cryptocurrency trading] any different? What has to be in place is a mechanism to be sure that the money used is not illegal money, and to track its source is the most important thing,” the official stated.

In June this year, the head of the same committee who is the secretary of the department of economic affairs made it clear that panel had made a movement forward in drafting a regulatory framework which is now in the advanced stages and the guidelines are anticipated to be officially published in this month.

The official gave relief to domestic crypto traders and the industry at large when he said that allowing cryptocurrency as a commodity may let them regulate trade better and that it is currently being looked at.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author: Coin Idol
Image Credit

Don’t forget to join our Telegram channel for Crypto, Business & Technology news delivered to you daily.