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  • TrapsBrah
    started a topic Bitcoin to 500k by 2030

    Bitcoin to 500k by 2030

    Though not a new thesis that Bitcoin price could rise drastically - up to $500,000 in the next 13 years according to the first investor in Snapchat - based on what comes out of developing countries, an analysis of some figures and trends as they relate to Africa comes to mind.

    Jeremy Liew and Blockchain Co-Founder Peter Smith hinged their outlook for an increased interest in Bitcoin on remittance, uncertainty and mobile penetration. These factors, especially remittance, have much to do with Africa, whose composition of developing countries have what will strengthen the rise and use of Bitcoin for several financial purposes in the coming years.

    $4 bln a year
    Remittance is gradually becoming a major boost for Bitcoin use in Africa - as well as in parts of Asia and Latin America. The advent of new services that use the digital currency for the purpose of sending money from one point to another has started eating into the roughly $4 bln per year cost that banks and other institutions make from international transfers to Africa.

    As earlier reported, many countries in this region - and in Asia - have the most expensive transfer rates in the world as well as bureaucratic processes that make sending and receiving money to and from loved ones a little difficult. This is a major reason why the promotion of the ease of use that Bitcoin brings is essential.

    19 percent remittance charge
    Bitwala, for example, notes that transferring money to South East Asia is cheaper than it is to Africa where banks and intermediaries charge high fees and manipulate currency rates to their advantage. The majority of banks charge between 10-19 percent on any transfers to, from and within African countries.

    The payment service provider points to a leaked document from Santander, a major Spanish banking group, as confirming the dangers of using banks.

    "In 2016, the bank made €585 mln solely from international money transfers, making up 10 percent of all of its revenue, it says. In addition to transfer fees, the bank also made another killing by controlling its foreign currency exchange which helped it earn €290 mln."

    Perhaps the most shocking part is that 80 percent of all global money transfers are still conducted via banks and conventional monetary transfer channels.

    Bitwala adds that the number of signups from developing countries on its platform is almost as those in the US and the EU in total - developing countries forming approximately 30 percent of its new signups globally. Bitwala recently launched into Africa to compete for market share with other companies like BitPesa, BITSSA and Luno.

    Africa boasts some of the top developing markets in the world presently. This is the main reason why the continent’s market of over a billion people stands a chance to be at the center of a share struggle in a couple of years.

    Youngest population
    Africa has the youngest population in the world - about a quarter of a billion people aged 15 to 29 in Africa as of 2010. Current trend indicates that this figure will double by 2045, according to the 2012 African Economic Outlook report prepared by experts from the African Development Bank (AfDB), the UN Development Programme (UNDP), the UN Economic Commission for Africa (ECA) and the industrialized countries’ Organization for Economic Cooperation and Development (OECD), among others.

    Fast forward to 2017, the October 2016 IMF’s World Economic Outlook shows that 12 of the top 25 world’s fastest-growing economies are in Africa.

    These countries, according to the outlook, will continue their growth into 2019 where the latest forecast stops. The growing Internet connection rate, particularly in Africa, will also add to the increasing interest in Bitcoin.

    Most of the emerging figures from Africa apply in the LATAM region where a series of events are now being put together to widen the understanding of the burgeoning economy and how to enhance access to income easily, cutting down costs and not necessarily relying on the use of a physical structure.

    "A key barrier to the projected rise, however, is not its untapped market potentials or for the infrastructures. Rather, it is the lack of awareness."



    https://cointelegraph.com/news/bitco...can-projection

  • boricuarage79
    replied
    Originally posted by Bouncer View Post
    And xrp hardly moving ahaha shit coin

    xrp bought a dogshit company who's stock has plummeted the last 5 years down to nothing and they are calling this a "partnership". ahahah

    Sent from my moto g(7) using Tapatalk
    im ready for that brand new honda civic

    Leave a comment:


  • Bouncer
    replied
    And xrp hardly moving ahaha shit coin

    xrp bought a dogshit company who's stock has plummeted the last 5 years down to nothing and they are calling this a "partnership". ahahah

    Sent from my moto g(7) using Tapatalk

    Leave a comment:


  • boricuarage79
    replied
    Money gram stocks go up 150% withing hours of the partnership

    Leave a comment:


  • boricuarage79
    replied
    And the fomo begins


    Ripple has agreed to enter into a strategic partnership with MoneyGram (NASDAQ: MGI), one of the world’s largest money transfer companies. Through this partnership, which will have an initial term of two years, Ripple would become MoneyGram’s key partner for cross-border payment and foreign exchange settlement using digital assets. In conjunction with the partnership, Ripple has agreed to provide a capital commitment to MoneyGram, which enables the company to draw up to $50 million in exchange for equity over a two-year period.

    The partnership with Ripple will focus on the xRapid product, a solution for on-demand liquidity, which reduces reliance on pre-funding by enabling money to be sent from one currency and instantly settled in the destination currency. It leverages XRP, the native digital asset of the XRP Ledger, as a real-time bridge between the sending and receiving currencies. XRP remains the most efficient digital asset for settlement with transaction fees at just fractions of a penny, compared to other digital asset fees of about $30 per transaction. Similarly, the average transaction time for XRP is two to three seconds with other top digital assets ranging from 15 minutes to an hour.

    “As the payments industry evolves and matures, it’s imperative that we continue to improve our platform and provide the most effective solution to get funds from point A to point B,” said Alex Holmes, MoneyGram Chairman and CEO. “Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”

    MoneyGram operates globally in the $600 billion global remittance market, serving millions of customers in more than 200 countries and territories, supporting multiple currencies. Today, MoneyGram relies on traditional foreign exchange markets to meet its settlement obligations, which require advance purchases of most currencies. Through this strategic partnership, MoneyGram will be able to settle key currencies and match the timing of funding with its settlement requirements reducing costs, improving its balance sheet efficiency and reducing risk.

    “This strategic partnership will enable MoneyGram to greatly improve its operations and enable millions of people around the world to benefit from its improved efficiency. This is a huge milestone in helping to transform cross-border payments and I look forward to a long-term, very strategic partnership between our companies,” said Brad Garlinghouse, CEO of Ripple.

    Leave a comment:


  • Cameron Brook
    replied
    Originally posted by TrapsBrah View Post

    OK bro. 21 million bitcoins ever in existence and a population of 7 billion plus people if it becomes a reserve currency like gold then you can bet your ass it will be huge. If you value it in terms of scarcity like gold the price was calculated at 5 million dollars a piece. It's better than gold which is why it was already priced higher than one ounce of gold earlier this year.

    Bitcoin is faster and cheaper than bank wire transfers that alone is huge.
    That's right

    Leave a comment:


  • Bouncer
    replied
    Bitcoin Soars Above $9K - It's Mostly Institutions Now

    https://www.zerohedge.com/news/2019-...stitutions-now

    Leave a comment:


  • Bouncer
    replied
    Originally posted by boricuarage79 View Post
    Visa Enters The $125 Trillion Global Money Transfer Market With New Blockchain Product

    Visa is launching a blockchain product to help businesses transfer money faster and more cheaply.
    © 2016 BLOOMBERG FINANCE LP
    Visa seems to do everything on a massive scale. Last year, it moved $11.2 trillion over its payment rails across more than 200 countries for purchases ranging from cups of coffee to cars. Now it’s eyeing an even bigger market: cross-border, business-to-business (B2B) transactions, where banks transfer money on behalf of corporate customers. Visa says it’s entering a $125 trillion market and using distributed ledger technology—software where transactions must be confirmed by multiple computers on a network to be considered final—to make these payments faster, cheaper and more transparent.

    Most cross-border payments are done through the Society for Worldwide Interbank Financial Telecommunication, or Swift, a Belgian organization started in 1973 that counts 11,000 financial institutions as members. But its legacy system has inefficiencies. Because few banks are connected directly to each other, a payment that originates in Kansas City and is bound for Nairobi might have to stop at banks in New York and London before reaching its final destination, with each bank extracting a fee. It’s also difficult to track the transfer’s progress and predict how much it will cost, including what foreign exchange rate you’ll get.

    In 2017, Swift launched a new service, gpi, to speed transactions and transparency. With this product, nearly all transactions settle within 24 hours, says Harry Newman, head of banking at Swift. So far, 3,500 banks have signed up, and they move $300 billion a day over the service, roughly half of Swift’s total daily volume. Visa's new product aims to connect banks more directly, lowering the cost of money transfers.
    VISA
    Visa is also making transactions faster and more transparent with its newly launched B2B Connect product, says Kevin Phalen, Visa’s global head of business solutions. Its newly launched distributed ledger software facilitates direct bank connections. Financial institutions can also see payment fees upfront. Transactions settle quicker, in one to two days. The B2B Connect rails are new, so Visa isn’t leveraging the ubiquitous credit card rails it has spent decades building and maintaining. But it is leveraging its vast experience in areas like complex payments, cybersecurity and compliance. YOU MAY ALSO LIKE

    Phalen’s team created Visa B2B Connect using distributed ledger technology because it provides more transparency and traceability than a typical state-of-the-art database, he says. They used Hyperledger Fabric, the blockchain software developed in part by IBM and hosted by Linux, to build it, and it has taken two years to launch. Unlike cryptocurrency-based blockchains including Bitcoin and Ethereum, Visa’s product isn’t decentralized, since the payments giant has complete control over it. Visa made Forbes’ first-ever Blockhain 50 list earlier this year.

    Visa B2B Connect is focused on facilitating high-value B2B transactions of about $15,000 and up, which represents a roughly 10% chunk of the $125 trillion cross-border market, Phalen says. It’s partnering with FIS, a Jacksonville-based payment processor and financial technology provider to more than 20,000 financial institutions. That will give Visa access to FIS’ rich set of bank clients, who can choose to use B2B Connect for payments if they wish.

    Why doesn’t a company like FIS, with its valuable distribution network, want to build a product like Visa B2B Connect on its own? “FIS has at times looked at introducing new networks into the market, but in most cases, we play the role of the integration partner that helps financial institutions participate in networks,” says Raja Gopalakrishnan, FIS’ international head of banking and payments.
    XRP killer ^

    Leave a comment:


  • boricuarage79
    replied
    Visa Enters The $125 Trillion Global Money Transfer Market With New Blockchain Product

    Visa is launching a blockchain product to help businesses transfer money faster and more cheaply.
    © 2016 BLOOMBERG FINANCE LP
    Visa seems to do everything on a massive scale. Last year, it moved $11.2 trillion over its payment rails across more than 200 countries for purchases ranging from cups of coffee to cars. Now it’s eyeing an even bigger market: cross-border, business-to-business (B2B) transactions, where banks transfer money on behalf of corporate customers. Visa says it’s entering a $125 trillion market and using distributed ledger technology—software where transactions must be confirmed by multiple computers on a network to be considered final—to make these payments faster, cheaper and more transparent.

    Most cross-border payments are done through the Society for Worldwide Interbank Financial Telecommunication, or Swift, a Belgian organization started in 1973 that counts 11,000 financial institutions as members. But its legacy system has inefficiencies. Because few banks are connected directly to each other, a payment that originates in Kansas City and is bound for Nairobi might have to stop at banks in New York and London before reaching its final destination, with each bank extracting a fee. It’s also difficult to track the transfer’s progress and predict how much it will cost, including what foreign exchange rate you’ll get.

    In 2017, Swift launched a new service, gpi, to speed transactions and transparency. With this product, nearly all transactions settle within 24 hours, says Harry Newman, head of banking at Swift. So far, 3,500 banks have signed up, and they move $300 billion a day over the service, roughly half of Swift’s total daily volume. Visa's new product aims to connect banks more directly, lowering the cost of money transfers.
    VISA
    Visa is also making transactions faster and more transparent with its newly launched B2B Connect product, says Kevin Phalen, Visa’s global head of business solutions. Its newly launched distributed ledger software facilitates direct bank connections. Financial institutions can also see payment fees upfront. Transactions settle quicker, in one to two days. The B2B Connect rails are new, so Visa isn’t leveraging the ubiquitous credit card rails it has spent decades building and maintaining. But it is leveraging its vast experience in areas like complex payments, cybersecurity and compliance. YOU MAY ALSO LIKE

    Phalen’s team created Visa B2B Connect using distributed ledger technology because it provides more transparency and traceability than a typical state-of-the-art database, he says. They used Hyperledger Fabric, the blockchain software developed in part by IBM and hosted by Linux, to build it, and it has taken two years to launch. Unlike cryptocurrency-based blockchains including Bitcoin and Ethereum, Visa’s product isn’t decentralized, since the payments giant has complete control over it. Visa made Forbes’ first-ever Blockhain 50 list earlier this year.

    Visa B2B Connect is focused on facilitating high-value B2B transactions of about $15,000 and up, which represents a roughly 10% chunk of the $125 trillion cross-border market, Phalen says. It’s partnering with FIS, a Jacksonville-based payment processor and financial technology provider to more than 20,000 financial institutions. That will give Visa access to FIS’ rich set of bank clients, who can choose to use B2B Connect for payments if they wish.

    Why doesn’t a company like FIS, with its valuable distribution network, want to build a product like Visa B2B Connect on its own? “FIS has at times looked at introducing new networks into the market, but in most cases, we play the role of the integration partner that helps financial institutions participate in networks,” says Raja Gopalakrishnan, FIS’ international head of banking and payments.

    Leave a comment:


  • boricuarage79
    replied
    Bitcoin reach all time high!!

    Sent from my SM-G950F using Tapatalk

    Leave a comment:


  • Bouncer
    replied
    Little bit of a thought experiment to help clear up the noise and doubts in the day to day ups and downs.

    This is the lifetime of BTC. Focus on the blue line uptrend. Forget the spikes above the blue line and forget the dips below it. The fact of the matter is BTC is still in a beautiful and massive uptrend. There will be massive spikes and massive dips but the lesson here is regardless of all that noise BTC is still chugging along upwards slow and steady.



    Sent from my moto g(7) using Tapatalk


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  • boricuarage79
    replied

    Whale Alert‏ @whale_alert 1h1 hour ago

    More
    32,352 #BTC (253,737,420 USD) transferred from unknown wallet to unknown wallet

    Leave a comment:


  • Bouncer
    replied
    Bitcoin absolutely blowing up. It's up by almost $1k today alone. New bull market looks ready to take this fucken thing into the stratosphere.

    4 months ago BTC was $4200. it's now $100 shy of $9k.

    it is out performing every market on the planet by a huge margin once again. at some point skeptics are going to have to look themselves in the mirror and ask themselves if a mania or a ponzi usually last a decade with no signs of slowing down while all the while getting more an more institutional investment by the day. skeptics are going to have to start getting real with themselves and understand that the only thing that matters is price action. bitcoin was worth literally pennies in 2009. it is now worth $9k. that's the brutal truth no matter what argument you have. that's pure fact. price action is the only truth here. markets have bull and bear cycles. bitcoin cycles are the fastest and most brutal (bear market 2018) of any market in history. but it's bull markets are explosive and sustained. they last for years. every bear market in bitcoin is easily eclipsed by the following bull market. you've been put on notice niggas.
    ===============================

    By Adam Haigh - Bloomberg
    May 26, 2019

    'Bitcoin soared to the highest level in a year, extending a run that’s seen prices more than double in just months.'


    https://www.bloomberg.com/news/artic...rency-comeback

    Leave a comment:


  • Bouncer
    replied
    Originally posted by smith45321 View Post
    When doing "business" i do so in bitcoin, in that avenue I have built up a little fraction of a leftover coin I keep intact ... if btc hits 500k@2030 I am ready to throw one major party hangover style. :).
    just remember btc is completely traceable. it's not anonymous like some people think. lots of busts have happened through btc.

    Leave a comment:


  • smith45321
    replied
    When doing "business" i do so in bitcoin, in that avenue I have built up a little fraction of a leftover coin I keep intact ... if btc hits 500k@2030 I am ready to throw one major party hangover style. :).

    Leave a comment:

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