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Bitcoin on the Way to 100k – Pomp-Eyelet Sounds on CNN

August 12, 2019 at 6:00 AM | By Jit Sutradhar Markets News

Anthony Pompliano reiterates his Bitcoin bullfight – this time on CNN. In the meantime, Litecoin founder Charlie Lee has to make it clear that his project is not dead, but rather slow to develop, despite all the prophecies of doom. The opinion ECHO

Bitcoin Explaining Bull Pomp on CNN: Lowering the prime rate will make Bitcoin Halving noticeable

Anthony Pompliano has once again honored his reputation as a stalwart Bitcoin cop. After renewing his 100k bitcoin forecast in July, Morgan Creek Digital’s co-founder told CNN in August why he believes Bitcoin is an asset that will see significant value growth in the foreseeable future.

The difference [to gold] is that at Bitcoin we know exactly how many Bitcoin are created, so today 1,800 Bitcoins are created. Second, we know the total available volume, which is 21 million. So it’s not like that: Hey, I wonder how much in the earth is. We know exactly how much it is and we can actually go and check or verify the software code of the system,

so Pompliano to CNN. But the monetary policy of the central banks play the course development of Bitcoin long-term in the hands:

Whenever we come into recessive times or slow down growth, central banks have two instruments. They can lower the interest rates they just did yesterday and they can print money. And if they do both, it usually takes six to 18 months to actually feel the effects of these tools,

Pompliano says with reference to the recent lowering of the prime rate by the US Federal Reserve.

[The effects of the rate cut] will coincide with the Bitcoin Halving […]. And so we think that lowering rates, pushing more money, and the systematic structure of Bitcoin over a long period of time will lead to higher prices for Bitcoin.

Ex Goldman Sachs Manager: Bitcoin has a market potential of $ 8 trillion

The macro investor Raoul Pal also sees enormous potential in Bitcoin. In the podcast by Stephan Livera, Pal BTC has a good chance of achieving a market capitalization of over $ 8 trillion. So far, the chance-risk ratio is clearly in favor of Bitcoin – and so do his macro colleagues. Raoul Pal’s Calculus: If only ten percent of the global available capital flows into the alternative financial system Bitcoin, that would mean a capitalization of eight trillion US dollars.

Charlie Lee: Litecoin is still alive

Meanwhile, Litecoin founder Charlie Lee was forced to give crypto-twitter information about the makeup of the Litecoin ecosystem. Reason were louder calls, which suspect a development stop in the Bitcoin descendant. Lee denies this by pointing to the fact that Litecoin has few core developers and updates usually follow months after Bitcoin Core updates. The development of LTC is slower, but this does not mean a standstill. Litecoin has always operated like this:

This is how the Litecoin Core development has worked for years. We even had the same FUD last year! Someone looked at our Master Branch last year and claims that Litecoin stopped doing business in 2018. And I bet, even after this explanation, we will have confused people in 2020.

The criticism is based above all on the sluggish development of the privacy protocol Mimblewimble (MW), which was once announced for 2019. Lee acknowledges that last year’s focus was more on adaptation than on development – and praised improvement:

I believe it is time now that I shift the focus from acceptance back to development. I still think the fungibility is extremely important and I will bring the ball back to MW / CT. This time, I will not make any promises on a release date.

The founder of Bitcoin Fork ends his 16-part Tweetstorm with the promise to the Litecoin community to update more frequently in the future.

Image via Shutterstock

This article is translated by Google Translate from btc-echo.de

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