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Bitcoin and Crypto Emerging As One of Most Important Sectors in Global Economy, Says Investing Legend Fred Wilson

Famed venture capitalist Fred Wilson says the crypto sector is shaping up to be one of the most significant elements of the global economy. In back-to-back blog posts, the Union Square Ventures CEO reviews 2020 and makes his economic predictions for 2021. While Wilson laments the economic devastation that lies in the wake of the […]

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Famed venture capitalist Fred Wilson says the crypto sector is shaping up to be one of the most significant elements of the global economy.

In back-to-back blog posts, the Union Square Ventures CEO reviews 2020 and makes his economic predictions for 2021.

While Wilson laments the economic devastation that lies in the wake of the Covid-19 pandemic, he also touches on some of the sectors of the economy that have benefited from the viral disaster in the past year.

“While it is inarguably the case that 2020 was a terrible year with a global pandemic, racial strife and ugly politics in the US, and an economic downturn that is impacting exactly the people who have already been hurt the most, it was an inflection point for the tech/startup/VC/crypto sectors and a very significant one. These sectors, which had been growing in their global importance over the last twenty years, all of a sudden have emerged as the most important sectors of the global economy.”

Wilson highlights the growth in popularity of Zoom, electric vehicle companies and technology based commerce solutions as examples of this rapid shift in industry valuations.

Although Wilson believes this shift was already on the horizon, he says the Covid-19 pandemic sped up the process immensely. With many people at home and nothing to do, rich with stimulus money, tech stocks and crypto assets ballooned.

The famed investor suggests that while Tesla and Bitcoin may currently be in speculative bubbles, the attention they have garnered will help those and other rapidly growing assets achieve widespread adoption much faster than they otherwise would have.

“There is no question that crypto is in yet another speculative bubble, but like I said, it is speculative bubbles that allow emerging technologies to go mainstream and finance themselves. Odd as it may seem, a lot more people want to buy Bitcoin at $28,000 than wanted to buy it at $5,000. That’s just how things are. And it is important to understand that.”

As for Wilson’s 2021 predictions, he believes the Covid-19 pandemic will end some time in Q2, but many of the trends that became popular during quarantine, such as working from home, ordering in, and consuming media in the comfort of people’s living rooms will remain prevalent.

Additionally, Wilson says that although the major threat of the virus will be diminished, the US will be sorting out the economic repercussions of the pandemic for the next decade along with the looming climate crisis.

Wilson predicts that the government will primarily respond to those lasting economic pains by printing more fiat money and protecting increasingly irrelevant financial institutions, which will accelerate the need for and growth of the decentralized finance (DeFi) sector, highlighting the popularity of projects such as yearn.finance, Compound, and Uniswap, which is backed by Wilson’s VC firm.

“I believe that governments will respond to all of these economic challenges by continuing to print fiat money without restraint and by taxing and regulating innovative new companies to protect old and dying companies. This will lead investors to continue to allocate capital to new forms of money (crypto) and new ways of creating and financing innovation (decentralized projects and organizations).

We are already seeing that happen in the finance sector, with breakout projects in decentralized finance in 2020 like Compound, Yearn, and Uniswap (a USV funded project). We will see this approach accelerate in 2021 and expand into areas beyond the financial sector. The idea of financing and executing innovation inside of a global decentralized autonomous organization is such a powerful idea and one whose time has come.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/GrandeDuc

Source: https://dailyhodl.com/2021/01/05/bitcoin-and-crypto-emerging-as-one-of-most-important-sectors-in-global-economy-says-investing-legend-fred-wilson/

Blockchain

Denarius Announces Beta of Kronos Wallet and Private Decentralized Chat

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Kronos, a new application beta from the developers of Denarius (D), provides people a way to socialize and transact without a central authority. This new proof of concept takes decentralization, blockchain and privacy to the next level.

“Blockchains like Bitcoin and Ethereum have paved the way of innovation for cryptocurrencies and new applications like Denarius (D): Kronos, to bridge the gap for a faster and cheaper way to transact and utilize cryptocurrency.” — James R. (Cryptocurrency User)

Kronos, a new application beta from the developers of Denarius (D), provides people a way to socialize and transact without a central authority. This new proof of concept takes decentralization, blockchain, and privacy to the next level. “Users” are able to freely join the Kronos Chat platform, as it is redundantly available due to it using peer-to-peer technology. Kronos has no downtime or possible banning of the platform. Examples of this in current history include, Amazon Web Services (AWS) taking down the Parler app’s platform hosting [1]. Google Play Store and Apple App Store removing the Parler application [2]. Signal App going offline [3]. Whatsapp invasion of privacy [4]…the list goes on.

Kronos is a secure cryptocurrency wallet but also chat reinvented. With the Kronos Chat you can chat and send cryptocurrency across the world in seconds. End-to-end encrypted messages and no storage of your chats, anywhere. Kronos Chat is powered by YOU by leveraging the latest peer-to-peer technologies. Censorship is everywhere and increasing daily. Kronos Wallet allows you to be truly free, with “self-moderation” you finally have the power to choose your own censorship while you socialize. Kronos stores only required data securely and locally, not on an unknown centralized server in the cloud. Kronos supports optional Two Factor Authentication (2FA) and One-time Password (OTP) Yubikey authentication and uses BIP39 technology for your cryptocurrency wallet with the most advanced and leading encryption technologies available today.

Bitcoin was the first cryptocurrency to solve the Byzantine Generals Problem, but transactions are slow. Ethereum created a smart contract platform, but transaction fees are expensive. Denarius stayed true to its roots by forking the original Bitcoin Satoshi code and modified the coin to become a faster and cheaper alternative to Bitcoin. Now Denarius with Kronos changes things. BTC, ETH, and D coins can be sent using the Kronos Wallet with more cryptocurrencies and tokens being added soon, possibly USDC, USDT, Namecoin (NMC), Devault (DVT), Primecoin (XPM), etc. Interplanetary File System (IPFS) integration and file uploading directly inside of the Kronos Chat also allows the user to upload files such as documents, images, and media directly inside of Kronos, ready to be shared via the plethora of IPFS public gateways available.

Cryptocurrency Credits
Bitcoin (BTC) created by Satoshi Nakamoto
Ethereum (ETH) created by Vitalik Buterin
Denarius (D) created by Carsen Klock

For more information
Kronos Wallet: https://kronoswallet.com
Denarius (D): https://denarius.io

BlockForums.org: https://blockforums.org
Bitcoin (BTC): https://bitcoin.org
Ethereum (ETH): https://ethereum.org
IPFS: https://ipfs.io

Sources
1.) https://www.theverge.com/2021/1/11/22223335/parler-amazon-terminates-web-hosting-aws-google-apple-capitol
2.) https://techcrunch.com/2021/01/08/parler-removed-from-google-play-store-as-apple-app-store-suspension-reportedly-looms
3.) https://www.cnet.com/news/signal-operational-again-after-daylong-outage/
4.) https://www.poynter.org/tech-tools/2019/whatsapps-breach-is-proof-that-online-privacy-takes-a-little-work/

Press Contact
marketing@denarius.io

Source: https://themerkle.com/denarius-announces-beta-of-kronos-wallet-and-private-decentralized-chat/

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Blockchain

Weiss analysts on Bitcoin rally: it’s shaping up to be déjà-vu all over again

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For a while now, Bitcoin has remained above the $30,000 range even though the asset saw one of the most “dramatic drops” compared to altcoins, over the past week. While some traders gave into FUD, others thought BTC could fall as low as $26,000. But a significant number of people in the space are waiting for this “temporary” setback to clear the path for another rally. 

Recently, crypto rating company Weiss joined the discussion to make some rather bullish predictions. According to Juan Villaverde and Bruce Ng, analysts at Weiss, this year could repeat 2017 market conditions – “when Bitcoin blasted up more than 21-fold.” They explained:    

BTC stood at $29,000 on Jan. 1. Even if it only goes up only half as much as in 2017, it’s still going to top $325,000! Either way, it’s shaping up to be déjà-vu all over again …

The duo believed that institutional investors could fuel a rally that could increase the price of Bitcoin to $325k within this year.

Further, Weiss noted the asset’s hard cap at 21 million would allow prices to increase even as demand grows. According to the team, crypto markets “routinely” experience exponential parabolic uptrends, which come crashing down, however only to recover and surge. 

Nevertheless, the past week saw two contrasting views with regard to the space. On one hand, traders chose altcoins over Bitcoin. The other, Grayscale and MicroStrategy raked up more BTC, clearly taking advantage of a dip in prices. 

Recently, a Deutsche Bank survey found that Bitcoin is expected to halve than double in value. A majority of respondents also believed that the crypto was closing in on “extreme bubble” territory.

However,  the team at Weiss countered the bubble theory and said: 

Every time a crypto bubble pops, valuations never actually come back down to where they were before.

That’s because each successive bubble brings in new people, many of which never leave.

In fact, this is how the crypto universe grows: By sucking new people in during bull runs. Then, by consolidating and expanding infrastructure during the bear markets that inevitably ensue.

Source: https://ambcrypto.com/weiss-analysts-on-bitcoin-rally-its-shaping-up-to-be-deja-vu-all-over-again

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Blockchain

Popular analyst prefers altcoins LINK, UNI, others during Bitcoin & Eth’s correction phase

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After reaching all-time highs, both Bitcoin and Ether have faced a wave of correction; while the former seems to be stagnated, the latter slid further. Experts believe the current dip in prices is a temporary setback and even a healthy pullback before Bitcoin and Ether reach higher ranges.

However, a popular trader and crypto analyst plans to invest in more altcoins instead of purchasing the leading digital assets.

The analyst, @smartcontracter took to Twitter and stated that he would rather invest in project tokens that are native to Aave, Synthetix, Cream, Chainlink, Uniswap, SushiSwap, and Perpetual Protocol.

Earlier, the trader happened to make an accurate prediction on the 2018 Bitcoin’s bear market bottom. The analyst now claims that if Bitcoin falls below the 33,000 range, the asset could head to the $26,000 mark. Additionally, SmartContracter cited another analyst who noted the present correction scenario and predicted Bitcoin’s supposed dip to $26,000, especially after retesting “39-40k”. 

Source: Twitter

Longhash recently revealed that in the last seven days, 92% of crypto tokens “outperformed Bitcoin.” Even though altcoins seem to perform better than Bitcoin, at the moment, no crypto would be able to replace Bitcoin, given its large market capitalization.

As Longhash researches stated, Ethereum may have been up 22% against Bitcoin in the past week, but “Ether’s market cap could quadruple and it would still be behind Bitcoin.”

Nevertheless, at press time, Bitcoin and Ether were trading at 32,366 and $1,227 respectively. On the other hand, the trader’s choice of cryptos are now worth: AAVE ($190.55), SNX ($14.06), CREAM ($156.66), LINK ($21.64). UNI is trading at $8.69, SUSHI at $6.67 and PERP at $5.27.  

Source: https://ambcrypto.com/popular-analyst-prefers-altcoins-link-uni-others-during-bitcoin-eths-correction-phase

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