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How the cryptocurrency and mining industry will develop in 2019, interview with Proton

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What will be the cryptocurrency market in 2019 and how relevant is the "home mining" in today's realities?

We bring to your attention an interview with the famous miner Proton – the author of one of the most popular and useful mining channels in Russian-language YouTube.

How do you see the place of cryptocurrency in the modern economy? Is there a real need and demand for “digital assets” now?

Currently, a cryptocurrency is rather a speculative tool than the real sector of the economy, but the technology behind the cryptocurrency is the future that awaits us not only in the economy, but in other spheres of life (because of the blockchain ).

Is society and business ready for the adoption of a “new form of money”?

At the moment there is no, and the point here is not even in the business itself or in society, but in the state regulation and the attempts of the governments to ban the new technology, instead of comprehending it and helping it to become. Those countries that support the development of the blockchain and cryptocurrency in the future can get a very good advantage in the development of their own economy.

"Home mining" died? Or is it worth taking the current situation as a temporary pause?

"Home mining" is very much alive, unlike industrial, where there are additional fixed costs. And in general, mining was originally conceived as “home”, and “die” cannot by default.

Another thing is that now the profitability from mining is very low, and modern “hamsters” tasted freebies of 2017 and confronted with the harsh correction of 2018 and begin to shout that “mining has died”, not realizing that this is a business like and others, and in any business there can be problems, losses and temporary difficulties, and for enthusiasts, mining is primarily a hobby, and who said that a hobby should be super-profitable?

Will Bitcoin remain the flagship of the cryptocurrency or the future of the tokens that will be issued by large corporations (Facebook, Google, Telegram)?

Bitcoin is likely to remain the No. 1 currency in the future, but it’s not a fact that, due to the shortcomings of its technology, it will become a means of payment (what corporation tokens are striving for) due to limited bandwidth.

I think that Bitcoin will eventually become a kind of measure of the value of the remaining coins (as it is now), and will be something of a reserve currency (well, or a luxury item, like diamonds … they are not very liquid and extremely expensive, while possessing tremendous value in heads of people).

What are the prospects for cryptocurrency in Russia for 2019 (implementation, regulation, mass adoption)?

The prospects are very vague, because cryptocurrencies pose a threat to fiat money, as more technological and advanced assets, and the governments of many countries would not like to lose control over the "monopoly of money."

How do you see the optimal principles of cryptocurrency regulation (at a basic level)?

The basic attributes of “real cryptocurrencies” are in their decentralization and the absence of any regulation from outside (and especially from governments), while there are many centralized tokens that can be completely controlled by the issuer (Ripple for example), such currencies will definitely appear and lobby. , and will probably replace the modern Fiat, but it is pleasing that decentralized cryptocurrencies will not go anywhere.

Will the blockchain technology evolve along with the growing popularity of cryptocurrencies or the adoption of the technology itself can occur regardless of the situation on the crypto market?

Cryptocurrency only visually shows how the technology (blockchain) works, and its development and introduction into other areas of life is beyond doubt.

What trends in the crypto industry you personally expect in 2019?

There is an opinion that in the middle of the year another wave of mining mining will again (begin) again , but as they say we will wait and see.

Publication date 01/31/2019
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Central Bank of Tunisia and Afghanistan can create crypto bonds to attract investment

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The heads of central banks of Afghanistan and Tunisia said that their countries are considering the possibility of issuing sovereign cryptocurrency bonds. Officials reported this at the annual Spring Meetings of the Board of Governors of the International Monetary Fund and the World Bank Group in Washington.

Governor of the Central Bank of Afghanistan, Khalil Sediq, said they are seriously considering crypto bonds as a tool to attract the $ 5.8 billion private investment needed by the country's mining, energy and agricultural sectors.

Since the country is limited in opportunities for concessional lending due to the ongoing internal armed conflict, the issue could be the issue of bonds and futures for metals, said Sedik. The country hopes to use for this its reserves of lithium, estimated at more than $ 3 trillion.

The head of the Central Bank of Tunisia, Marouane El Abassi, in turn, said that the country has already established a working group, which is also seriously studying the issue of issuing sovereign bonds to Bitcoin . He recalled that Tunisia was one of the first countries in the world to issue electronic currency, an e-dinar, in which payments are received by national mail.

Publication date 04/22/2019
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How do transactions occur in the Bitcoin network? The whole cycle from start to finish

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Bitcoin (BTC) and its complexity have become a concept that many cryptocurrency users have been trying to understand since its inception. In his latest video, the famous Bitcoin enthusiast Andreas Antonopoulos and the author of the book “Mastering Bitcoin,” spoke about the life cycle of a Bitcoin transaction with a wallet from start to finish.

Antonopoulos said that since the transaction was sent from the wallet for confirmation to the Bitcoin network , the wallet creates a transaction, accumulating BTC in the user's wallet and assigning addresses. Then the user's wallet transfers the transaction information to one of the many nodes to which it is connected, from where it can be sent to “1, 2 or even 8 other nodes”.

“Then the transaction is transferred to other nodes, which can be mining nodes, e-commerce payment gateways and other options. Each of these nodes will receive a transaction from yours, and each will verify each transaction. When nodes receive transactions, they do not know whether it was created by you or was redirected, and therefore each of these transactions must be checked individually. ”

Then Antonopoulos said that if all the nodes are checked, i.e. if the payment details are correct and it is confirmed that there were no double costs in the blockchain, then the transaction information will be sent to every other node.

“As soon as a transaction reaches the mining pool , it enters the pool of unconfirmed transactions, for example, a basket in which all unconfirmed data is stored. In another way it is called mempul. The information in individual memoplahs may coincide by 99%, but there will never be complete similarity. ”

According to the expert, the memory also serves to submit the transaction to the BTC miner to add a new block, after which the race is turned on for the next block. As a rule, miners have to build a block, and then solve it with the help of Proof-of-Work , making it ultimately confirmed.

Once the unit is ready, the information will be sent mayningovomu equipment to solve the problem in this particular block, and probably after the "billion hashes" miners will block.

“As soon as PoW is resolved, the mining node will return the node back in the same way as it received. The nodes check the block on the way back, and as soon as all the nodes confirm its validity, the user's wallet will know about the confirmation of the transaction. This is the full life cycle of a transaction. ”

Publication date 04/22/2019
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At the upcoming bull rally, Bitcoin (BTC) capitalization will exceed $ 1 trillion

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Chris Berniske, who previously led cryptocurrency investments in ARK Invest and is now a partner in Placeholder, a $ 150 million asset management venture fund, said that Bitcoin's market capitalization will exceed $ 1 trillion. in the next bull market:

“Estimates of the top 10 cryptoactive assets at the end of each year give me the idea that only Bitcoin will reach $ 1 trillion. in the next bull market. ”

Recall that during the cryptocurrency boom at the end of 2017, when the price of Bitcoin reached $ 20,000, the market capitalization of the entire crypto market reached a maximum of $ 813 billion. If the capitalization of only one Bitcoin exceeds $ 1 trillion, it will trade at a rate above $ 40,000.

How can bitcoin reach a market capitalization of $ 1 trillion?

Like gold and other commodities, Bitcoin must become a recognized store of value with a developed infrastructure in order to cope with a huge influx of capital. In the near future, the development of this infrastructure may take several years.

In a Fortune interview last year for the New York Stock Exchange, Jeff Sprecher said that buying Bitcoin today is quite problematic for institutional investors.

“Bitcoin does not have a good market structure. Even for Bitcoin, different markets publish a lot of different prices. And you can pay up to 6% of the spread to exchange dollars for bitcoins, which means that bitcoin must grow by as much as 6% so that you can break even. ”

Many investors, including billionaire Mike Novograz, believe that those that lead Bitcoin to a trillion-dollar market capitalization are likely to be institutional investors. In an interview with Bloomberg, Novograz said:

“Maybe one of the fearless pension funds, one of the market leaders, will say:“ you know what? We have custodial services, Goldman Sachs participates, Bloomberg has an index by which I can track results. ” And they will buy. Following them, others will also start shopping. There will be a similar FOMO, which we have already seen among retail investors, only at the institutional level. ”

The imminent arrival of institutional investors to the cryptocurrency market was mentioned as early as 2017. According to a survey conducted by TRADE Crypto in partnership with BitGo, 94% of the 150 surveyed endowments in the US have already invested in the cryptocurrency market.

Morgan Creek Digital, the first US pension fund that invested in cryptocurrency, said that 66% of investments in cryystocurrency products of Grayscale come from institutional investors .

Publication date 04/22/2019
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Name Price24H (%)
Bitcoin (BTC)
$5,308.00
1.12%
Ethereum (ETH)
$171.56
2.60%
XRP (XRP)
$0.325960
2.31%
Bitcoin Cash (BCH)
$293.42
3.37%
EOS (EOS)
$5.22
2.28%
Stellar (XLM)
$0.113874
1.40%
Litecoin (LTC)
$77.31
3.14%
Cardano (ADA)
$0.075810
5.13%
Tether (USDT)
$1.00
-0.06%
Monero (XMR)
$69.90
2.04%
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