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BCH’s Roger Ver Vs LTC’s Charlie Lee Debate About Bitcoin’s Lightning Network and Future Bet

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Roger Ver Vs Charlie Lee Debate About the Lightning Network (Amongst Other Things)

Bitcoin.com recently organized a long-awaited debate between controversial Bitcoin evangelist Roger Ver and the founder of Litecoin, Charlie Lee wherein the two giants discussed their thoughts and ideas regarding the “Lightning Network” amongst many other issues related to the world of crypto. The discussion also looked at the BCH vs LN debate with both Ver and Lee putting forth some interesting points from two different perspectives— with Lee playing the role of the seasoned crypto engineer and Ver acting as the impassioned crypto marketer.

Roger Ver Clearly Has Issues With the Lightning Network

From the very start of the conversation it becomes quite apparent that Ver is not impressed with the future potential of Bitcoin Lightning payments. Ver repeatedly interrupted Lee when he was talking on the aforementioned subject and asked him questions like, “How many shops are currently accepting Bitcoin Lightning Payments?” in an attempt to discredit Lee’s claims of the LN network being the future of digital transactions.

However, a simple search online shows that there are currently more than 12 merchants on BTCPay that are offering BTC Lightning Payments as we speak.

Other than that, Ver also made a bold assertion when he claimed that the Lightning Network “encourages censorship” by allowing nodes to “exclude” other member nodes by refusing to connect with them. This point was then swiftly debunked by Lee after he pointed to certain technicalities as to why what Ver was claiming was not actually possible.

“BTC is no longer a viable P2P electronic cash system”, Says Ver

Another point that Ver repeatedly tried to argue is how Bitcoin is not a viable digital currency since it cannot be used to buy, something like say a ‘cup of coffee’. In Bitcoin’s defense, Lee stated that via the use of the “Lightning Network” such transactions can not only be achieved but will most likely become the norm moving forward (primarily through the implementation of second-layer protocols).

Ver then went on to say that BTC’s transfer fees are quite hefty, to which Lee promptly replied “ You think 47 cents to facilitate an otherwise arduous transaction is too much?”

Final Take on the Debate

Whatever your personal opinions about Ver or Lee may be, this discussion had some good moments (regardless of whose side you’re on). If you really want to learn more about Roger and Charlie’s stance on the future of Bitcoin and the Lightning Network, it is best you watch the entire 12 minute clip on Youtube for yourself rather than read the opinions of biased internet trolls on twitter.

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Bitcoin (BTC/USD) forecast and analysis on October 18, 2019

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Cryptocurrency Bitcoin (BTC/USD) is trading at 7991. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator stripes.

Bitcoin (BTC/USD) forecast and analysis on October 18, 2019

As part of the Bitcoin exchange rate forecast, a test level of 8200 is expected. Where can we expect an attempt to continue the fall of BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 7260. The conservative area for Bitcoin sales is located near the upper border of the Bollinger Bands indicator strip at 8420.

Bitcoin (BTC/USD) forecast and analysis on October 18, 2019

Cancellation of the option to continue the depreciation of Bitcoin will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of ​​8540. This will indicate a change in the current trend in favor of the bullish for BTC/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, one should expect acceleration of the fall of the cryptocurrency.

Bitcoin (BTC/USD) forecast and analysis on October 18, 2019 implies a test level of 8200. Further, it is expected to continue falling to the area below the level of 7260. The conservative area for selling Bitcoin is located area of 8420. Canceling the option of falling cryptocurrency will be a breakdown of the level of 8540. In this case, we can expect continuation growth.


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Bitcoin re-enters $8,000-zone, but what is its upside potential? – Confluence Detector

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  • BTC/USD went up from $7,998.50 to $8,077.50 this Thursday.
  • The daily confluence detector shows two healthy resistance levels to overcome on the upside.

Following two straight bearish days, which took the price below the $8,000-zone, BTC/USD is on the course to recovery. Bitcoin had gone up from $7,998.50 to $8,077.50 this Thursday before it improved further to $8,087.40 this Friday. The hourly BTC/USD chart shows us that the market found intra-day resistance at $7,943.15 before it bounced up to $8,075. Since then, the price trended horizontally for a bit, negotiating with the $8,090 resistance line. The bulls managed to rally together to break past it and go up to $8,110, before correcting itself to $8,087.40.

BTC/USD daily confluence detector

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The daily confluence detector has two healthy resistance levels at $8,190 and $8,260. $8,190 has the five-day Simple Moving Average (SMA 5) and one-week Fibonacci 61.8% retracement level. $8,260 has the SMA 100, one-day Pivot Point resistance two and one-day Bollinger Band middle curve.

On the downside, there is a support level of note at $8,065, which has the SMA 5, SMA 50, SMA 200, one-hour Bollinger band middle curve, one-day Fibonacci 38.2% retracement level and one-hour previous low.


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Bitcoin could become store of value, as institutional interest increases

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Institutional interest in Bitcoin has seen a significant rise in 2019, as several derivative financial products on top of Bitcoin have flooded the market. Active exposure of these investors to the digital asset realm has brought back the debate about whether Bitcoin is the new “store of value.” According to Grayscale’s managing director Michael Sonnenshein, there has been a certain shift in perception for sure.

Sonnenshein appeared on ‘The Scoop‘ recently to discuss the impact of institutional investor’s exposure to the digital asset class. The managing director of the firm believed that although Gold has been the standard store of value for centuries, and it made sense in the physical age, but given the rapid growth of the digital monetary age, Bitcoin for sure is challenging to become the new store of value. He explained,

“It is now nearly 2020 and we’re starting to ask investors with this question which is, what constitutes a store of value? It historically has been gold but that may have made more sense for a physical age. As we are in fully immersing ourselves now in this digital age perhaps gold doesn’t hold up as much as it once did as that store of value and perhaps investors need to think about a digital store of value such as Bitcoin.”

Institutional investors hold the key for Bitcoin and any other digital asset to gain mainstream adoption, and as of today they are more aware and learned about Bitcoin and its potential as an investment than ever before. More importantly, these investors are using Bitcoin as a hedge fund and store of value to diversify their investment portfolio as well as make quick capital gains on their investment.

The increasing interest of institutional investors is evident from the fact that GrayScale registered its highest gain in the last quarter with over $250 million raised from the investors, Binance has registered the highest daily volumes of over $700 million from its Binance futures platforms. Bakkt has launched its futures contracts recently while CME’s futures contracts year-to-date volumes have seen a significant rise over the past year.

Source:ambcrypto

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