33% chance that bitcoin goes to zero, VC Jason Calacanis ...
Is The Writing on the Wall for BTC?
First things first. Not trying to start a flame war here, or spread FUD at all. I'm just trying to summarize / make sure I am aware of the big going-ons in the crypto (specifically ETH / BTC sector.) world.
We had Starbucks coming out saying that they were planning on choosing one or a couple of cryptocurrencies -- but specifically mentioned not supporting bitcoin.
Despite fluxuations in the overall market cap of the crypto market, we have Ethereum weathering it incredibly well, and gradually climing percentage charts for the flippening. (61% as of the writing of this post.)
We have Binance (I believe it was.) adding all their pairings with ETH / XXX, making a first attempt at decoupling BTC from their pairs.
I just got a note from Jason Calacanis noting to his subscribers:
"3. Bitcoin itself could go to zero The Bitcoin HODL crowd (a play on words for “hold,” as in hold your coins, never sell them), think this is insane, but we’ve watched many times as the early projects in a promising vertical go to zero and the 10th goes to the moon. Many of us used Ask Jeeves, Lycos, and LookSmart before seeing Google show up in 1998. https://en.wikipedia.org/wiki/Timeline_of_web_search_engines Many of us used SixDegrees, Friendster, LiveJournel, and MySpace before Facebook in 2004. Bitcoin is facing massive challenges around speed of transactions, the size of the blockchain, transaction costs and governance. Governance could be the thing that takes it down. If you want to jump down that rabbit hole, you can watch this video: https://www.oii.ox.ac.uk/blog/the-blockchain-paradox-why-distributed-ledger-technologies-may-do-little-to-transform-the-economy/ The majority case in my mind, is that Bitcoin will, as the first technology out of the gate, be supplanted by a much better technology. This could be a fork of Bitcoin or simply a new, much better product. As time moves on, consumers get savvier, and that means they recognize a better product quicker and move to it faster and faster. We’ve seen this with people jumping from Hotmail to GMAIL, BlackBerries to iPhones, and dialup to broadband internet. Consumers will not have the loyalty to Bitcoin that they have to their email account and BlackBerries, because they don’t actually use Bitcoin for anything other than speculation. The switching cost will be zero, as opposed to switching your phone, which requires backing up your data, moving your phone number, and setting up your new iPhone and selling your BlackBerry. We could see a run on Bitcoin that happens in days or hours, not years like the decline of RIM (BlackBerry’s parent company) and AOL." Note -- he doesn't mention Ethereum at all in his mega-critical article of the crypto sector in general. I don't know if this is bullish, but I know at the very least it isn't bearish. Is it just me? Or has there been a steady drip of negative news for BTC? I've heard nothing but positive tests for Casper. Thanks in advance for not flaming me. Edit: a word. Binance added ethxxx pairs, they didn't replace anything.
Bitcoin logged an overnight rally Tuesday as its price hit $14,000 for the second time in just three days. ... Jason Calacanis, an angel investor in Robinhood and Uber, recently said that he thinks 99% of crypto projects have no merit. Calacanis’ comment was in reference to his opinion that most crypto founders have no vision or experience to be doing what they are doing and thus are doomed ... Facebook is in talks with the U.S. Commodity Futures Trading Commission (CFTC) about its stablecoin that is expected to launch in 2020. Venture capitalist Jason Calacanis believes that Bitcoin ... Venture capitalist Jason Calacanis believes that Bitcoin will plunge as it will be replaced by a new technology. On similar lines, research firm Gartner believes that the current blockchain technology being used by enterprises may have to be replaced within the next 18 months. Jason Calacanis, an angel investor in Robinhood and Uber, recently said that he thinks 99% of crypto projects have no merit. Calacanis’ comment was in reference to his opinion that most crypto founders have no vision or experience to be doing what they are doing and thus are doomed to fail. Jason Calacanis, an angel investor in Robinhood and Uber, recently said that he thinks 99% of crypto projects have no merit. Calacanis’ comment was in reference to his opinion that most crypto founders have no vision or experience to be doing what they are doing and thus are doomed to fail. VC Jason Calacanis said, there is 33% chance that bitcoin goes to zero. Bitcoin lost a fourth of its esteem this month, quickly dipping under $10,000. Once easygoing investor acknowledges they've been getting tied up with "what is basically a huge fraud misrepresentation," VC Jason Calacanis stated, the digital currency will tank. Calacanis additionally pushed back on late against tech ...
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