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According to a Cornell proficient computer scientist and Bitcoin advocate, Emin Gun Sirer, cryptography will not be able to overcome a $ 1 trillion collective assessment until certain conditions are met. He thinks that with the developments of the industry, "the crypto-winter will end," in the long run.
Crypto requires scaling, real use cases, decentralized solutions
Sire recently wrote on Twitter that the crypto-currency market exceeded $ 700 billion with "inherently indescribable technologies," referring to the rally apparently based on the hype of 2017. While some were certain that $ 1 trillion were in the crosshairs of crypto, the market has obviously retreated drastically.
The winter crypto will end.
We have reached $ 700 billion with inherently indescribable technologies.
We are going to exceed $ 1 billion when we determine how to adapt non-dependent solutions, how to create applications that users want to use and that bring net positive results to society.
– Emin Gün Sirer (@ el33th4xor) March 28, 2019
However, Sirer is convinced that sizing solutions, potentially similar to those of Lightning Network or Ethereum's Proof of Stake; an increase in the number of non-custodial solutions, thus reducing the risk of hacking (just look at DragonEx & Bithumb); viable use cases that bring "net positive results to society", this market could finally start to recover.
Related Reading: EOS Scale Issues and Their Impact on the Blockchain
Bitcoin will exceed $ 1 trillion with a one-half hit
While Sirer argues that the cryptocurrency market Needs technical development to exceed the $ 1 trillion threshold, a number of experts have recently stated that this may not be the case.
An industry researcher, PlanB, recently said that reducing the global premium by 2020 could be the only catalyst for BTC to acquire over $ 50,000 each. As previously reported by NewsBTC, the analyst noted that if Bitcoin followed a linear trend linking the stock-flow ratio (FS) to the asset valuation, the auspicious event mentioned would allow the total value of all BTCs to reach a trillion dollars.
Although $ 55,000 per BTC seem irrational for the most part, PlanB writes that money comes from money, gold, negative savings, authoritarianism and control over the Capital, billionaires looking for a quantitative easing hedge and institutional investors will eventually invade this space. That in itself may sound like a chimera, but some are certain that this is likely, especially with the increase in hyperinflation, poor budget management and speculators looking for opportunities. alternative investment.
Ryan Selkis of Messari recently drew attention to another catalyst that could be behind the creation of a $ 1 trillion Bitcoin. The CEO of Messari explained that with millennia inheriting billions of their parents still dead over the next decades, much of this money could theoretically end up in the crypto market, which would drive up price.
Featured image of Shutterstock
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