Category Archives: Bobby Lee

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Bitpay: Bitcoin the “Under Pound Gorilla” Will Eclipse Many Other Currencies

Global Bitcoin payment service provider Bitpay is making some upbeat predictions for 2019 which certainly paint a different picture to the digital currency’s rocky ride as 2018 comes to a close.

The Atlanta-based company’s Chief Commercial Officer (CCO) Sonny Singh predicts that 2019 promises to be an “exciting” year which will push Bitcoin’s value up to between USD 15,000 and USD 20,000 by next December.

He believes that with the entry of Fidelity and Intercontinental Exchange into the market and ETFs getting the green light, 2019 will take on a whole new look when it comes down to investment opportunities. He commented it would be Bitcoin that would eclipse many other digital currencies whose fortunes were less easy to foresee, suggesting, “I don’t know what’s going to happen to them.”

He said, “There’s a night and day difference between Bitcoin and everything else. Bitcoin is the under pound gorilla, it’s the one that has the mass network effect… [the one] the traditional financial incumbents are building products around.”

In terms the durability of his gorilla, Sing argues that “Bitcoin survives first”, even in a poor market, despite its fluctuating fortunes. Blockstream CEO Bobby Lee, brother of Litecoin founder Charlie, agrees, suggesting that despite flashes of green in the last 24 hrs, Bitcoin could still threaten USD 3,000 but long-term, he feels it will overtake gold.

In this bear market for #Bitcoin, it’s worth reminding everyone that $BTC is still only one-hundredth of the value of #Gold: $80 billion vs $8 trillion.
Gold is worth 100 times more than Bitcoin today!
What will the ratio be in 10-20 years?
Will it flip, with Bitcoin worth more? pic.twitter.com/VIpzIDKfo0

— Bobby Lee (@bobbyclee) November 20, 2018

Currently, there is a consensus among certain cryptocurrency experts that with Bitcoin’s growing convenience as a payment method, illustrated by the march of ATMs worldwide, along with the digital currency becoming an internationally recognized household name, past hype could surrender to real value. A deflation of Bitcoin could “clean out weak hands”, according to the views of many investors. Serious players in the market would then be left to establish Bitcoin’s real value. EToro analyst Mati Greenspan says the ship isn’t sinking, but simply readjusting to its load:

“What we’re seeing now are the after-effects of the unprecedented rise of Bitcoin and other crypto assets in 2017. This year is simply a retracement of that… These cycles can sometimes be accentuated in the crypto market due to the riskier nature of this nascent industry. In the same way, previous cycles have not signaled the end for broader markets, these price movements don’t signal the end for crypto assets.”

For now, Singh’s gorilla is still in the mist, waiting for its moment to escape.

 

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Prominent CEOs Upbeat on Bitcoin with 10K November Prediction

Some prominent CEOs have been speaking out on where they see the cryptocurrency market heading as it moves beyond 2018 into the future and the synopsis is upbeat.

With co-founder of BTCC Bobby Lee predicting that when Bitcoin passes the USD 60,000 price level in the coming years, it’ll reach a total circulation value of USD 1 trillion, what then is the short-term synopsis for the digital currency?

With 3,650 Bitcoin ATMs in the world and approximately four new Bitcoin ATMs being installed each day, some in the most unexpected of places, the market for Bitcoin certainly isn’t going away anytime soon, and popularity on the street is clearly on the up, with experts expecting the ATM market will achieve a USD 145 million value by 2023.

Herman Finnbjornsson, founder of Svandis, is certain that Bitcoin is going nowhere if not onwards to success, suggesting that “[There’s] Less than a 1% chance in my mind that Bitcoin won’t succeed. I think that there are a lot of reasons to be bullish on Bitcoin. Banks are getting into Bitcoin.”

Banks around the world are becoming involved in Bitcoin with particular interest on Wall Street as ETFs are expected to gain approval by the SEC next year, along with industry expectations these will lift the market and attract institutional investors.

Russell Korus, the CEO of EZ Exchange, sees Bitcoin succeeding for a number of reasons, suggesting that its failproof, decentralized, and autonomous qualities simply can’t be overlooked. He suggests that Bitcoin will lead what he calls “a brand new paradigm” where value can be exchanged without the need for an intermediary creating “far-reaching and society-shifting repercussions”, within the industry as the move towards decentralization now, eventually becomes the norm.

Finnbjornsson sees this year as the springboard to his success scenario suggesting that Bitcoin could easily pass the USD 10,000 price level by the first week of November. Brian Kelly’s biggest news of the year, the much talked about platform backed by Microsoft and Starbucks, will see Bitcoins sales volume support that figure as investors rush to get in early.

 

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Another Blockchain Party, This Time at Sea with 2,500 Cryptolites

A third floating blockchain conference is planned for September of this year with an entire ship reserved for a potential 2,500 cryptocurrency enthusiasts sailing the Mediterranean Sea.

The cruise is organized by cryptocurrency exchange CoinsBank taking in Barcelona, Monte Carlo and Ibiza as 100 speakers deliver presentations on current developments in the industry.

Those at sea will include a mixed bag of pioneers and experts from the industry including John McAfee, founder of McAfee security and Bobby Lee, the founder of BTCC and a crypto expert. Others on board will include venture capitalist and philanthropist Brock Pierce and CEO of Bitcoin.com, Roger Ver. Apart from speeches, the main speakers plan to also run workshops and one-on-one consultations.

Lectures and workshops covered will cover managing crypto investments, understanding regulations and all things blockchain. Other aspects within this main framework will be cybersecurity, trading and scalability issues.

Blockchain and crypto-conferences are becoming fashionable in the new digital world, dressed for fun but with business lurking in the background ready to pounce. It’s not surprising then that CoinsBank has dressed up three conferences to date as parties, given recent history.

In this year’s Dubai Futurama summit, the conference to surpass all others in terms of razzmatazz, the actual blockchain discussions were basically molded around networking events and basically, having fun. However, these events don’t come cheap, with admission prices running into the thousands of dollars; many happy to pay these after striking up a rewarding business relationship or tapping into yet another good idea. A cruise would be no cheaper.

As has been said elsewhere, possibly at Brock Pierce’s highly-publicized recent desert conference, information is great but having a good time in the process of acquiring it makes it even better. Of course, what he actually said was “…the most likely way to get me to attend your conference is to throw really good parties”.

 

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