Mediaboss Marketing

05/1 update below. This post was originally published on April 29

BitcoinBTC, ethereum and other major cryptocurrencies have rocketed higher so far this year (despite a stark warning that China, Joe Biden and the Federal Reserve could "destroy all value of bitcoin").

Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the bitcoin and crypto market roller-coaster

The bitcoin price has doubled from its late 2022 lows to around $30,000 per bitcoin while ethereum and other top ten cryptocurrencies BNBBNB, XRPXRP, cardano, dogecoin, polygon and solana have added a combined $200 billion to the crypto marketfueling hopes "crypto winter" could finally be over.

Now, technology investor Balaji Srinivasan has explained the rationale behind his $1 million bitcoin price bet, telling a bitcoin and crypto conference that he's "burning a million to tell you they're printing trillions."

It's at the beginning of a bull run you need up-to-date information the most! Sign up now for the free CryptoCodexA daily newsletter for traders, investors and the crypto-curious that will keep you ahead of the market

Srinivasan, an early bitcoin investor and former chief technology officer at crypto exchange Coinbase, made headlines in March when he predicted the U.S. dollar would enter a hyperinflationary death spiral and the bitcoin price would climb to $1 million by June 16an increase of over 3,000% from its current level that would give bitcoin a market capitalization of around $20 trillion.

However, he's now dialed that back but remains highly skeptical of the U.S. financial system due to the proliferation of money printing by the government to prop up fragile banks, calling his bet a "directional signal" to "raise awareness of the fiat crisis."

05/1 update: Srinivasan has denied he's "backtracking" on this bitcoin bet, posting to Twitter: "I said 10% chance fiat crisis happens in months, 70% chance in years, 19% chance in decades, 1% in centuries. But 10% is very high, and worth drawing attention to. Others also believe the probability of sovereign default is at all time highs."

The U.S. government is currently approaching a debt ceiling, with the deadline to raise the $31.4 trillion limit fast approaching and causing concern for investors.

Srinivasan also said he'd give an update to his bet "soon," adding: "Markets also put the probability of U.S. sovereign default at all time highs. And that's just debt-ceiling-driven explicit default. Doesn't include all the routes to monetizing debt."

"I dont know how many monthsyearswe have," Balaji said during Coindesk's Consensus conference this week. "If you think like a trader, you think that too early is the same as being wrong. If you think like a prepper, hell is truth seen too late."

Just to quantify it, I think we have a 10% chance of a very serious issue in months, 70% in years, 19% in decades, and 1% it takes a century or so on," Balaji said, referring to a so-called "black swan"-style event. "Could it be that it takes 900 days or even 90 months? It's possible, I don't have a 100% probability on it. I may be wrong, but I'm burning a million to tell you they're printing trillions."

Sign up now for CryptoCodexA free, daily newsletter for the crypto-curious

This week, the banking crisis that saw the demise of Silicon Valley Bank, Credit Suisse and crypto-friendly banks Signature and Silvergate earlier this year has hit San Francisco-based First Republic.

Government officials and agencies are in talks to rescue First Republic after it suffered $100 billion of outflows and its share price crashed by 98% this year while interest ratesthat have rocketed at a historical pace over the last 12 monthshave heavily weighed on the value of the bank's mortgage book and other assets.

"Trust the Fed, end up dead," Balaji added. "Fed lied, banks died."

Fresh concerns swirling around the U.S. banking system have pushed the bitcoin price higher this week, reflecting a similar bitcoin, ethereum, BNB, XRP, polygon, dogecoin and solana price boom earlier this year during the Silicon Valley Bank banking crisis.

"The revelation of First Republic Banks fragile business condition has fueled bitcoins rally through $29,000, however, the price was rejected at the $30,000 psychological level on Wednesday and has been struggling to break past that level ever since," Yuya Hasegawa, bitcoin and crypto market analyst at Toky0-based Bitbank, said in an emailed note.

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com.Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

More here:

Theyre Printing TrillionsCrypto Now Braced For A $20 Trillion Black Swan After Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana...

Charles Hoskinson has built his own blockchain platform, Cardano and also worked as a co-founder of Ethereum blockchain. He continuously showed his efforts towards the development of his blockchain. Still, one of his old colleagues or a co-founder of Ethereum blockchain, Fabian Vogelsteller didnt think that Hoskinson had really done anything for Ethereum blockchain.

Fabian Vogelsteller has done work related to dApps and smart contracts on Ethereum blockchain. Last weekend, he shared a tweet where he retweeted an old post. That old tweet included the foundation members of Ethereum blockchain who have built their own blockchains. Besides Vitalik Buterin, the post included Charles Hoskinson, Fabian Vogelsteller, and Gavin Wood. It must be noted that Hoskinson has developed Cardano, Vogelsteller built LUKSO, while Wood has developed Polkadot blockchain.

The father of the ERC-20 token, Vogelsteller wrote in his tweet that he wanted to correct the picture of Ethereums founding members. According to him, as a founder Buterin doesnt count, while Hoskinson was neer really a founder of Ethereum. He also added that Hoskinson has built literally nothing as he is aware of.

Hoskinson was just early on at the right place, at the time, hanging out, and thats why Vogelsteller doesnt think the Cardano founder should be in that picture of Ethereum foundation members. Along with Polkadot founder, Vogelsteller thinks they are better fitting.

Vogelsteller continued as his saying is factual, no matter what anyone likes or not. He has been part of Ethereum since the beginning of the blockchain network. Thus he knew very well what and when anyone showed their contributions. As he said, the main work that lifted off Ethereum network was done in the time period from end of 2017 till now.

At last, Vogelsteller wrote he doesnt say anything about Cardano founders skills and contributions to the space or anything about him as a person. That he cant judge.

In response to Vogelstellers tweet, the founder of Cardano responded in a sarcastic way. He firstly thanked him then wrote that he suppose Switzerland just materialized out of the ether and as he is incompetent, he likes to meet people behind Cardano.

Charles Hoskinson also added about the patent filing and all the open sources that he is busy with innovating.

Over the response by Hoskinson, Vogelsteller once again made his reply as he meant no offense on the skills and work of Cardano founder. That was purely a reference to Ethereum. He also added that he didnt plan to initiate any blockchain drama.

As per the data sourced from CoinMarketCap, there are a total of eight co-founders of Ethereum blockchain, that clearly includes Charles Hoskinson.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

More:

Cardano Founder was Never A Part of Ethereum says Vogelsteller - The Coin Republic

Matt Hamilton fumes over assertions about XRPLs alleged centralization.

In a tweet today, former Ripple Director Matt Hamilton slammed Token Paddock for asserting that the XRP Ledger (XRPL) has nothing to do with decentralization.

The issue first started after Cyber Capital founder Justin Bons claimed in a recent tweet that XRP, BNB Coin (BNB), and Stellar Lumens (XLM) are centralized due to their permissioned blockchain infrastructure.

To defend the decentralized nature of XRPL, Panos Mekras, author of Understanding the Crypto Economy, noted that XRP Ledger invented decentralized finance. According to Mekras, XRPL was the first blockchain to support tokenized assets, decentralized exchange (DEX), stablecoin, and smart contract features.

Token Paddock countered this claim saying Ethereum was the first to support all the features highlighted by Mekras. The crypto analytical platform added that XRPL is only a payment network andhas nothing to do with decentralization.

The team behind the Token Paddock handle furtherpointed outthatDeFi was coded on Ethereum for [the] first time in the crypto industry [in] 2016.

Notably, Token Paddocks claims infuriated several XRP community members, including former Ripples director of developer relations. Hamilton noted that the team behind the Tokenpaddock seem confused.

He clarified that XRPL had existed for several years before Ethereum was launched. Per Hamilton, Ethereums co-founder Vitalik Buterin used to sleep on the couch of Ripples CTO David Schwartz while making moves to get enrolled as an intern in Ripple.

Notably, in 2019, Buterindisclosed that he once applied for an internship at Ripple in mid-2013. Buterin, who co-founded Ethereum two years later, said he missed the opportunity due to visa-related issues.

Follow Us on Twitter and Facebook.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

-Advertisement-

Continued here:

Former Ripple Exec: XRP Ledger Years Ahead of Ethereum As ... - The Crypto Basic

By just about any metric, Ethereum (CRYPTO:ETH) is the premier Layer 1 blockchain in the world. Whether it's non-fungible tokens (NFTs), decentralized applications, or blockchain gaming, Ethereum typically ranks No. 1. So it's perhaps no surprise that, over its lifetime, Ethereum has delivered a staggering return of 66,566.24% to investors.

But there are two under-the-radar cryptos that might have more future potential than Ethereum. One of these is Cardano (CRYPTO:ADA), a blockchain that has been around since 2017 but now seems to be on the cusp of reinventing itself. The other is Avalanche(CRYPTO:AVAX), a former market darling that is making an impressive comeback in 2023. Let's take a closer look at both.

One major reason why Cardano has been under the radar for many investors is that it has never had the same type of head-spinning, stratospheric rally that other cryptos have had. Cardano, which currently trades for just $0.41, has never traded higher than $3.10. In comparison, Ethereum once traded as high as $4,891.70.

Image source: Getty Images.

But I think Cardano, already up more than 64% in 2023, could be on the cusp of a major breakout.The reason for this is Cardano's recent foray into the field of decentralized finance (DeFi), where it has historically been a non-player. Cardano only added smart contract functionality to its platform in late 2021, while Ethereum has had smart contracts since 2015. Without smart contracts, it's impossible to be a player in DeFi. As a result, Cardano has been ignored in this key sector of the blockchain industry for years.

But Cardano seems to be making DeFi a priority these days, and it's really paying off. In early 2022, the first decentralized exchanges appeared on the Cardano platform. And, in 2023, things have really taken off. In April, the key metric for measuring DeFi strength -- Total Value Locked (TVL) -- reached a 10-month high for Cardano.And Cardano has been generating buzz for a number of innovative DeFi projects, including the launch of its first stablecoin this year.

People once thought non-fungible tokens (NFTs) were going to be the path to success for Cardano, but I disagree with this. While Cardano now ranks as a top five player in the NFT space, it's unlikely Cardano can ever unseat Ethereum as the No. 1 player. But I think it's a different story for DeFi. This is an area where Cardano can win, especially if Ethereum can't figure out a way to keep its transaction fees (known as "gas fees") under control.

Next up is Avalanche, which is still tiny compared to Ethereum. While Avalanche has a market cap of $5.66 billion (good enough to rank in the Top 20 of all cryptos), it's nowhere close to Ethereum's market cap, which weighs in at a hefty $225.2 billion.

At one time, it looked like Avalanche was going to make a serious run at Ethereum simply due to its lightning-fast transactions, near-zero transaction fees, and impressive blockchain scalability. That's the big reason why some publications made Avalanche a media darling back during the last crypto bull market rally, even going so far as to tout Avalanche as a potential "Ethereum killer."But things never really materialized for Avalanche, and in 2022, the crypto was down more than 90%.

But things seem to be turning around for Avalanche in 2023.In January, Avalanche inked a partnership deal with Amazon Web Services (AWS), the cloud computing unit of Amazon(AMZN -3.22%), in order to provide blockchain infrastructure services to AWS customers.The focus, according to Avalanche, was going to be on large enterprise and government customers who would be able to leverage Avalanche's blockchain infrastructure.

While Avalanche is currently listed as a service provider within the Amazon Web Services marketplace, there have not yet been any big client wins announced yet. Imagine, though, if an S&P 500 company were to announce a blockchain infrastructure deal with Avalanche -- that would be huge for Avalanche's future growth prospects. If there's one place where Avalanche can take on Ethereum and win, it's in the enterprise space, due to this Amazon relationship.

Both Cardano and Avalanche have enormous untapped potential. But the window of opportunity for both is closing quickly, simply because Ethereum shows no signs of slowing down. Ethereum is a market behemoth with a huge built-in first-mover advantage in many areas.

So the path to success for Cardano and Avalanche will not be easy. But if Cardano can execute on its DeFi strategy, and if Avalanche can leverage its Amazon Web Services partnership, it might just be possible. I'm bullish on both Cardano and Avalanche long-term.

John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Dominic Basulto has positions in Amazon.com, Cardano, and Ethereum. The Motley Fool has positions in and recommends Amazon.com, Avalanche, Cardano, and Ethereum. The Motley Fool has a disclosure policy.

Originally posted here:

2 Under-the-Radar Cryptocurrencies With More Potential Than ... - The Motley Fool

The upcoming Ethereum Shanghai Upgrade, scheduled for April 12th, has captured the attention of the entire crypto community, with all eyes on the events potential impact on ETH. With just one week remaining until the upgrade, investors and traders alike are eagerly anticipating the possible outcomes of the network upgrade.

However, as with any major event in the crypto world, there are also risks involved. Some analysts have expressed concerns about the potential impact of the upgrade on the networks stability and security. There have also been reports of increased regulatory scrutiny and action against crypto exchanges, which could potentially affect the markets sentiment toward ETH.

Crypto experts are enthusiastic about the forthcoming upgrade as it could enhance transaction efficiency on the Ethereum blockchain. Despite rumors and regulatory actions targeting exchanges, Ethereum, the second-biggest cryptocurrency by market capitalization, reached a seven-month peak of $1,922 on April 5th, demonstrating its resilience.

Ethers ability to overcome resistance points has led some analysts to project a potential price target of $3,000 in Q2 2023. According to Santiment, an analytics firm, whale accumulation remained strong in March, increasing by 0.5%.

The Ethereum Shanghai Upgrade is a significant development for the Ethereum blockchain, as it is designed to improve the networks efficiency and reduce transaction costs. The upgrade will also introduce new features such as the Ethereum Improvement Proposal (EIP) 1559, which aims to address the issue of high gas fees on the network.

The price surges of Bitcoin and Ethereum are being fueled by the planned upgrades to their respective blockchain networks. Nonetheless, Big Eyes Coin is also an excellent investment option, especially now that its launch date is nearing.

Overall, the Ethereum Shanghai Upgrade is a significant event in the crypto world, with many investors and traders eagerly awaiting its outcome. While there are risks involved, the potential benefits of the network upgrade could make it a crucial turning point for the Ethereum blockchain and the cryptocurrency market as a whole.

Big Eyes Coin has rapidly become one of the most dynamic and intriguing cryptocurrencies in the crypto community since its launch a few months ago, gaining a loyal following with a strong focus on user rewards.

The Big Eyes Coin team has recently announced that the presale will end on June 3rd, offering investors a final opportunity to invest in this digital asset. Big Eyes Coin has already set records as the biggest meme coin presale, raising over $33 million in funds. This achievement highlights the increasing interest in meme-inspired cryptocurrencies, indicating that such projects can attract significant investment and support from the crypto community.

Big Eyes Coin is currently offering a 300% bonus to investors using the code END300, along with a Loot Box campaign where users can receive prizes equivalent to or greater than the amount spent to open the box.

The projects commitment to creating a vibrant and committed cryptocurrency community is reflected in the rewards and incentives it provides to users. In addition, Big Eyes Coin is committed to social responsibility and sustainability, dedicating 5% of its total supply to support ocean conservation initiatives.

To take advantage of the #BigEyesLoot box promotion, investors can use the bonus code END300 for a 300% BONUS. Each Cute Box, which costs $99, guarantees returns of $396 in $BIG after applying the code, with a maximum award of $5,396 in $BIG.

Big Eyes Coin (BIG):

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Read the rest here:

The Presale For Big Eyes Will End Spectacularly As The Value Of ... - NewsWatch