Early Evangelist David Drake Never Stops Believing in Crypto 0 973

David Drake

David Drake, Founder and Chairman at LDJ Capital, a $200 million cryptocurrency fund, recently put a bold stake in the ground when he went on Bloomberg to declare Bitcoin may be valued at $30k by the end of 2018. Drake’s commentary was picked up by just about every crypto trade publication with other industry leaders adding their two cents.  

Over the last seven years, Drake has steadily made a name for himself as a leader in cryptocurrency. He saw the value of digital assets back in 2011 when other investors were still avoiding it. About six years later, a lot of others had faith in the market too. 2017 was the year cryptocurrency went mainstream, more institutional investors got in on the market and we saw Bitcoin close out the year with its highest valuation yet.

Since then, we’ve seen a roller coaster of sharp falls, followed by steady growth and so on. “We see organizations of people using strategies that are forbidden in traditional trading environments, including pumping up certain cryptocurrencies and then dumping them. These types of Black-Box trading strategies manipulate the market and cause a large part of the volatility we are seeing at this stage,” says Drake.

In response, there has been a lot of talk about what needs to be done in order to improve the cryptocurrency ecosystem. “There needs to be regulation, self regulation and SEC guidance, plain and simple,” adds Drake. However, this is something many coin offerings have been hesitant of given the digital asset’s somewhat nefarious beginnings. The anonymity and decentralization of cryptocurrency markets will be lost once governments and regulatory agencies get involved, but this is necessary according to Drake. “We need to work collaboratively in order for the market to reach its full potential,”he says.

When asked what the market will look like ten years from now, Drakes confidence never wavers. “It will be 85 times bigger and we will see complete fluidity between the market, Wall Street and financial institutions.”

Despite the ups and downs of the current market, the likes of Bitcoin, Ethereum and Ripple have, for the most part, been the top three cryptocurrencies in the market. Drake believes we may see that disrupted. “Despite all of the media buzz and widespread consumer interest, this market is still in its infancy. There is definitely potential for existing and new coin offerings to shake things up. Bitcoin Cash, EOS, Cardano and Litecoin have been gaining ground in their own right.  “I could see EOS surpassing Ethereum’s position by year-end,” says Drake. “Admittedly, it is all speculation without knowing what other coin offerings may enter the market. Anything is possible.”

Regardless of those possibilities, watching the cryptocurrency market evolution is sure to be interesting.

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Tina Mulqueen is the CEO of Kindred PR. She consults with reputable ICOs on marketing and public relations strategy, helping clients to secure more than $10M in funding. She was named one of the top young communications professionals by INC Magazine, and her campaigns have been featured in Adweek, Entrepreneur, INC and Forbes, in addition to multiple other niche and television outlets. She's an advocate for women in technology, and often speaks about the intersection of technology and retail marketing. She writes regularly for Forbes, and has written for Huffington Post, Today, Thrive Global, Elite Daily, New York Lifestyles Magazine, and more.

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Twitter Gets Tough on @Bitcoin (Again) 0 2258

@Bitcoin Ban

Social media platforms and search engines don’t seem to like digital currency very much. After Google announced the ad ban on any content related to cryptocurrency, ICOs, or exchanges, Twitter promptly followed suit. And its stance against cryptocurrency is turning positively aggressive, as now even the @Bitcoin account has been banned, as well.

While the reasons for banning advertisements may be in the best interests of Twitter users, it’s not clear as to the purpose behind the outright ban on the @Bitcoin handle.

What’s Behind The @Bitcoin Account Ban?

Speculation, speculation, speculation. Is Twitter in league with some mysterious entity driven on flooding the crypto markets with FUD? Is there something underhand happening that the wider public don’t know about? Twitter claims that the @Bitcoin Twitter account, is in “violation of the Twitter rules.” Which could be 101 different things, and this vague statement raises a lot of additional questions.

For an account to get suspended on this social media platform, it has to get a few complaints. And it needs to be reported by several people. Well, the @Bitcoin account has certainly had its fair share of adversaries over the last few months.

A lot of the people against the @Bitcoin handle seem to be Bitcoin fans themselves. The content shared lately by this account seemed to be favoring Bitcoin Cash over the classic Bitcoin. (For those of you who don’t know, there are many purists within the crypto space. They don’t like false claims or misinformation being spread).

Is This a Slippery Slope to Censorship?

Bitcoin is still not illegal in most countries, albeit, traded without the backing of any government so far. However, many countries, especially Japan and South Korea seem to be embracing the digital currency and cryptocurrencies in general, while others like Bolivia and China have banned it.

Twitter making such a drastic move starts to look a little like censorship, especially when Google will no longer display crypto advertisements either.

And while it’s very nice of Twitter to look out for its users’ best interests, its users are, for the most part, adults who can decide for themselves where to invest their money. It remains to be proven that the @Bitcoin account was actually spreading misinformation, as no evidence of this has been submitted, thus far. In fact, it may not have even violated Twitter’s terms of service, so it could be reinstated.

Twitter and Cryptocurrency in General

What has a lot of people wondering is just how aggressive Twitter plans to get on cryptocurrency in general. Because with the way they’re treating @Bitcoin, it is starting to feel an awful lot like using a search engine or social media platform in China or Russia. Preventing advertisements thought to be misleading is one thing. Preventing open discussion about a topic that is not even illegal on social media is another.

And will it lead to regular accounts being shut down should they dare to speculate on the state of digital money? Thanks to the reaction from the crypto community and public at large over this maneuver, it’s likely that Twitter will release some kind of statement at the very least. This is not the first time the @Bitcoin account was suspended from Twitter. And the last time, the account was reinstated pretty fast. Whether that will be the case this time around is not clear.

But as is the case in this lawless community, new developments happen daily to drive the discord and fractionism among parties. We’ve already seen a breakaway from those who prefer Bitcoin Cash over traditional Bitcoin. We’ve seen a split between Ethereum and Ethereum Classic. And now we’ll certainly hear of other debates as emotions escalate and contribute to the already bearish crypto markets.

Bitcoin Vs Ethereum: Here’s What You Need to Know 1 2109

bitcoin vs ethereum

While Bitcoin hogged the headlines last year, Ethereum is entering the mainstream consciousness as well. Although it was established in 2015, the wider public is only recently starting to hear it used more often. But, what’s the difference between Bitcoin vs Ethereum? Here’s what you need to know:

Let’s Start with Bitcoin

In what many say was a response to the financial crisis of 2008, Bitcoin emerged as a way to allow people to control their own wealth. They were open to transact freely, without the intervention or permission of any centralized institution (at a time when trust in banks was at an all-time low).

Bitcoin’s creator is widely believed to be Satoshi Nakamoto, the author of a white paper explaining the goals and purposes of the currency. He has denied being the creator, however.

What are the main objectives of Bitcoin? To offer lower transaction fees, remove the need for currency conversion, therefore allowing for global transactions in near real time, and removing the need for any centralized governing body. You will never hold a Bitcoin in your hand. It exists in digital form only.

The debate over the legality and legitimacy of Bitcoin rages on, with some countries banning it, and others allowing it. But its galloping volatility has rendered its use as a currency impractical, to say the least.

Moreover, because of its sudden surge in value last year, many people started to see it as an alternative investment vehicle. They started buying Bitcoin in the hope of it rising further in value and then cashing out later.

So, can you pay for things with Bitcoin? In some places, yes, but the list is shorter every day, since its price is so unstable.

Now for Ethereum

Bitcoin is produced by authorized miners though a technology called the blockchain. Lately people across all industries are awakening to the possibilities of the blockchain due to its immutability (somewhat debated), decentralization, and possibilities for greater efficiency in all areas.

Using cryptography, once a Bitcoin or a transaction is carried out on blockchain, it cannot be tampered with, unlike a real dollar that can be forged.

Ethereum is now the second largest and well-known cryptocurrency running on its own software platform. It has several improvements over Bitcoin. One of which is the invention of “smart contracts,” that enable transactions to happen automatically, improving on the speed of Bitcoin transactions, and reducing the need for middlemen at many points in the supply chain. No human interaction is needed.

In fact, Ethereum is both a platform and a programming language that, like Bitcoin, runs on a blockchain.

Bitcoin Vs Ethereum – Why Should You Care?

Bitcoin vs Ethereum serve two different purposes. Ethereum is mainly traded and used as a digital currency, but it is also used inside the Ethereum platform to run applications. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.”

While both digital currencies use cryptography, Bitcoin and Ether use two different programming languages. Ethereum transactions can be confirmed in seconds, whereas Bitcoin transactions can take several minutes. The main difference however is their purpose.

Bitcoin was created as an alternative to fiat currency, as a store of value, or means of payment. Ether exists to facilitate peer to peer contracts and applications. Ether’s primary purpose is not to be used as a payment alternative, but to enable developers to build and run distributed apps.

Still Confused?

Think of it this way. Ethereum takes the basic design and principal of Bitcoin and improves it in some ways, without competing directly, since the two exist for different reasons. That said, with the popularity of Ether on the rise and the wider public beginning to see it as an investment vehicle as well, Ethereum is giving Bitcoin a run for its (digital) money.

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