The top news in the last 24 hours are shown below:
Barry Silbert: Most Cryptos Will Go To Zero, Bitcoin Will Replace Gold
The CEO and founder of Digital Currency Group, Barry Silbert, says that most cryptocurrencies will fail and become worthless. However, bitcoin will rise and potentially replace gold. Silbert is a well respected and widely followed crypto expert. He is the founder of Digital Currency Group and Greyscale Investments. He has earlier claimed that Bitcoin is a significant investment and that 99 per cent of the cryptocurrencies will go to zero. Their portfolio consists of Bitcoin, Ethereum Classic, ZCash, Decentraland and Zerncash. However, most of the other ones will go to zero according to Silbert.
Mike Novogratz: Institutions Will Enter the Market After Core Infrastructure Is In Place
During a recent interview with CNBC, Mike Novogratz argues that bitcoin will become gold. He also says that institutions will enter the market sooner rather than later. However, the market will build slowly and not join the frenzy that occurred during 2017. Bitcoin guru and industry expert Mike Novogratz recently expressed his optimism about cryptocurrencies and in particular bitcoin. He states that the turn will tide when institutions enter the market and that is already underway. A couple of months ago, Novogratz said that institutions would enter the market in Q1 – Q2 2019. When they enter the market, we will see new highs. Now, it is Q1 and institutions enter the market one after one. A few days ago, two pension funds anchored Morgan Creek’s crypto focused fund.
Buy Domino’s Pizza With BTC Using Bitcoin’s Lightning Network
The Lighting Network is quickly allowing for new Bitcoin-related use cases. Now, a cryptocurrency payments startup has seen over 150 people purchase pizzas during the past week – all using the Lightning Network. Specifically, this system is the brainchild of cryptocurrency startup Fold. Fold launched a web-based portal for the American pizza restaurant chain Domino’s on Wednesday. Moreover, this service allows pizza-hungry Lightning Network users to make fiat pizza purchases.
High Cost Slows Down Bitcoin ATM Growth in Africa
There are more than 4,000 bitcoin automated teller machines (ATMs) in the world, but only just about 10 (or 0.2 per cent) of these are in Africa. In a continent widely touted as the next significant growth region for the cryptocurrency, could it be that the story of Africa’s growth isn’t as real as many “Africa rising” headlines have suggested?
Indian Blockchain Summit Draws Policy Makers to Speed up Crypto Regulation
An Indian government-supported blockchain summit is drawing many policy makers with the aim to speed up the development of cryptocurrency regulation in the country. Among expected participants are officials from the Indian Ministry of Finance and the panel currently tasked with drafting the regulatory framework for cryptocurrencies.
Russia’s Minister of Justice: Cryptocurrencies Don’t Need to Be Legally Defined Yet
Russia’s stance on cryptocurrency remains unclear after the Minister of Justice this week announced that there is still no need to formalize crypto-related legislation. This is because digital assets cannot be used as a means of payment; it asserts because the constitution forbids it.
ICO Investments Fall 95% in 10 Months
Interest in token sales has dropped dramatically over the past ten months, with investment falling almost 95 per cent. Nevertheless, according to a new study, the ICO market is still significantly larger than two years ago.