Bitcoin expert talks on price escalation and future implications
|Richard Harris in Blockchain Sunday, December 24, 2017|
How the future of Bitcoin and other cryptocurrencies are shaping up to look like and how present practices implication they will have down the road.
That's why we had a chat with an expert on the matter to learn more about what's to come in the future in regards to cryptocurrencies. All responses below are from Paul Puey, the CEO of Edge (formerly Airbitz).
ADM: What does the surging Bitcoin price mean for the wider cryptocurrency world?
Puey: It means stronger awareness of the broader market and the additional technology and potential of smart contracts and tokenization. Media brings awareness of bitcoin. Once people buy in, they'll quickly jump down the rabbit hole of broader decentralized blockchain tech.
ADM: How high will the Bitcoin price climb, and do you agree with the forecast from longforecast.com?
Puey: The upside forecast on longforecast.com is very feasible, but bitcoin's historic volatility means we could see some significant lows on the way there.
ADM: Are we watching a Bitcoin bubble forming, and if so, when will it burst?
Puey: It will never "burst". It will short term "correct". And I don't believe bitcoin is a bubble. It's the pin that will pop the bubble of government money.
ADM: Should the average investor consider just buying coins, investing in a cloud mine, or buy their own mining equipment?
Puey: Buying coins. Everything else is very uncertain, requires trust in a 3rd party, or access to cheap resources like mining hardware or electricity.
ADM: Recent news puts nicehash in the spotlight for security and digital wallets in general. What can people do to protect their coins?
Puey: Very simple. Make sure you wallet has YOU holding the keys. We've been preaching this since 2013. People lose money in custodial services (banks). Bitcoin was designed to make that dangerous. Controlling your funds is the safest way to hold bitcoin.
ADM: What people should know before investing in Bitcoin?
Puey: Know that you're not "investing". You're supporting the paradigm shift in money. If you're trying to trade bitcoin like just another asset, you both don't understand it, and will likely get burned as it doesn't behave like any other tradable asset. Buy it, use it, hold it.
ADM: What are your predictions for the ‘next’ crypto that might make a strong climb?
Puey: Due to scalability issues in bitcoin, I'd keep my eye out for Bitcoin Cash and Ethereum. While Ethereum is having scaling issues right now, they at least have a clear roadmap to solve it. If the Lightning Network proves feasible, then Bitcoin will easily rule as THE currency and payment network. If not, other cryptos like Bitcoin Cash, Dash, Ethereum, and Litecoin have a strong potential to displace it.
Are you paying more taxes than you have to as a developer or freelancer? The IRS is certainly not going to tell you about a deduction you failed to take, and your accountant is not likely to take the time to ask you about every deduction you’re entitled to. As former IRS Commissioner Mark Everson admitted, “If you don’t claim it, you don’t get it.
Get hands-on experience in performing simple to complex mobile forensics techniques Retrieve and analyze data stored not only on mobile devices but also through the cloud and other connected mediums A practical guide to leveraging the power of mobile forensics on popular mobile platforms with lots of tips, tricks, and caveats.
The Chirp GPS app is a top-ranked location sharing app available for Apple and Android that is super easy to use, and most of all, it's reliable.
Write and run code every step of the way, using Android Studio to create apps that integrate with other apps, download and display pictures from the web, play sounds, and more. Each chapter and app has been designed and tested to provide the knowledge and experience you need to get started in Android development.