• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

What A Bitcoin-Friendly Cornell Prof Thinks Will Propel Crypto Past $1 Trillion

Nick Chong by Nick Chong
3 years ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

According to one Cornell professor proficient in computer science and an advocate for Bitcoin, Emin Gun Sirer, crypto will be unable to surmount a $1 trillion collective valuation until certain requirements are met. He believes that with industry developments, “crypto winter will end” — eventually.

Crypto Needs Scaling, Real Use-Cases, Decentralized Solutions

Sirer recently wrote on Twitter that the cryptocurrency market surpassed $700 billion with “inherently unscalable technologies,” referring to 2017’s seemingly hype-based rally. While some were sure that $1 trillion was in crypto’s sights then, the market obviously pulled back drastically.

Crypto winter will end.

We reached $700B with inherently unscalable technologies.

We will surpass $1T when we figure out how to scale, how to build non-custodial solutions, how to layer apps that people want to use and that bring net positive outcomes to society.

— Emin Gün Sirer (@el33th4xor) March 28, 2019

However, Sirer is under the belief that with scaling solutions, potentially like the Lightning Network or Ethereum’s Proof of Stake; a surge in non-custodial solutions, thereby mitigating the risk of hacks (just look at DragonEx & Bithumb); viable use cases that bring “net positive outcomes to society,” this market could finally begin to rally again.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
Related Reading: EOS Scaling Issues and Their Impact on the Blockchain

Bitcoin To Surpass $1 Trillion With Halving Alone

While Sirer is making a case that the cryptocurrency market needs technical development to surpass the $1 trillion milestone, a number of pundits have recently claimed that this may not be the case.

PlanB, an industry researcher, recently claimed that 2020’s block reward reduction could be the sole catalyst that hoists BTC above $50,000 apiece. As reported by NewsBTC previously, the analyst noted that if Bitcoin follows a linear trend that relates the stock-to-flow ratio (SF) to asset valuation, the mentioned auspicious event will allow the aggregate value of all BTC to reach $1 trillion.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

While $55,000 for each BTC seems irrational for most, PlanB writes that money from silver, gold, negative interest rate economies, authoritarian and capital control-rife states, billionaires looking for a quantitative easing hedge, and institutional investors will eventually flood into this space. This in and of itself may seem like a pipe dream, but some are sure this is likely, especially with the increase in hyperinflation, fiscal mismanagement, and speculators looking for alternative investment opportunities.

Although many are sure that the halving event will create waves, Messari’s Ryan Selkis recently drew attention to another catalyst that could be responsible for creating a $1 trillion Bitcoin. The chief executive of Messari explained that with millennials inheriting billions from their to-be-deceased parents over the coming decades, much of that money could theoretically find itself in the crypto market, pushing up prices as a result.

Featured Image from Shutterstock
Tags: cryptomarkettechnology
Tweet123Share373ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Bitcoin

Can This Bitcoin Ratio Have Hints For A Bottom?

2 hours ago
Greek Artist Sends Pro-Freedom Message with Assange NFT Drop

Greek Artist Sends Pro-Freedom Message with Assange NFT Drop

14 hours ago
World Of Women, screenshot from the website

Blue Chip NFTs 101: The World Of Women Collection, Including And Conquering

20 hours ago
crypto bear

Leading Crypto Exchanges See Negative Funding Rates, Have The Bears Taken Over?

22 hours ago
bitcoin

Why Bitcoin Could Return To $28,000, But By The End Of 2022

23 hours ago
$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

1 day ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Don’t Miss Out On Experts’ Top Crypto Picks! Gnox (GNOX), Algorand (ALGO) And VeChain (VET) Set To Lead Bullish Market

July 2, 2022

LBank Exchange Will List DEBT on July 5, 2022

July 2, 2022

LBank Exchange Will List Metavie Token (METAVIE) on July 5, 2022

July 2, 2022

Holon (HLN) Is Now Available for Trading on LBank Exchange

July 2, 2022

LBank Exchange Will List METAFASTEST (METAF) on July 1, 2022

July 2, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.