Bitcoin Scrypt to Undergo Hard Fork

BitcoinScrypt announced that it will have a Kimoto Gravity Well hard fork which is scheduled for Feb 19, 2018
19 February 2018   1294

BitcoinScrypt aims to decentralize mining by moving from a pure Proof-of-Work consensus algorithm, to a hybrid Proof-of-Stake consensus algorithm. Further, it plans to decentralize Bitcoin-sCrypt coin development by adding CryptoVoter blockchain voting functionality directly to the wallet client to allow for blockchain voting on development issues so that the community can vote on the direction of the coin.

As it was announced on the official website of BitcoinScrypt, it will have a Kimoto Gravity Well hard fork which is scheduled for Feb 19, 2018. All clients are recommended to update to Bitcoin-sCrypt v.1.6.0 before the fork.

Bitcoinscrypt countdown at the moment of pressBitcoinScrypt hard fork countdown at the moment of press

All Bitcoin-sCrypt coins existing before the hard-fork will continue to exist in their same wallets and addresses after the hard fork, and users just need to download the latest wallet client.

At the moment of press, these are main market parameters of Bitcoin Scrypt:

Average price: $0,138057
Market cap: $2 302 076
24h volume: $15 015

Bitcoin May Pass Gold Market Cap, - Novogratz

Mike Novogratz continues to be Bitcoin and cryptocurrency optimist 
25 March 2019   105

The founder of Galaxy Digital, Mike Novogratz, expressed the opinion that over the next 20 years, Bitcoin’s capitalization would “easily” surpass the gold market, currently estimated at $ 7.5 trillion. It is reported by The Daily HODL.

In a conversation with the founder of Morgan Creek Digital, Anthony Pompiano, Novogratz stressed that the inflow of institutional money to the cryptocurrency market is only a matter of time, and major players like Goldman Sachs and the Intercontinental Exchange (ICE) are already mastering a new industry.

I know Goldman for instance is gearing up around securities tokens. They’re not doing anything yet, but they’re getting really ready and looking at all the questions on – where would you store them? Do you have to build your own custody, or can you use someone else’s custody? How to get them to work.
 

Mike Novogratz

Founder, Galaxy Digital

According to him, the growth potential of Bitcoin is strong and therefore it is advisable for investors to include the first cryptocurrency in their portfolios:

I think the macro case for [Bitcoin] is pretty strong. And so, if you can put a couple percent of your portfolio in, there’s a decent chance it catches wind. Fidelity is just getting set up. Bakkt continues to get delayed a little bit, but it’s not going to be delayed forever. They’re going to be in the game. And there’s lots of other players coming.
 

Mike Novogratz

Founder, Galaxy Digital

According to him, the volume of the gold market is $ 7.5-8 trillion and in order to outperform this market, the first cryptocurrency needs to grow in price at least 100 times.

Gold’s got an $8 trillion market cap, or a $7.5 trillion market cap. And so, we’re 100x off on that. We’re not going to get there in Bitcoin in the next year or two. But over a 20-year period, could that happen? Easily. Easily. And that’s giving zero optionality to all the other stuff. And so I think it seems like a pretty smart portfolio bet.
 

Mike Novogratz

Founder, Galaxy Digital

The founder of Galaxy Digital also touched on the topic of bitcoin futures.

The reality is, the CME kicked their butts. And these guys have limited resources on what they’re going to spend their focus, and they decided to spend it elsewhere. Finding leverage in Bitcoin is going to get easier as the architecture in the space gets better. You’re already seeing the lending market around Bitcoin went from 10% to like 3%. So once you can borrow you can short. And so now it’s not so hard to short Bitcoin. It used to be almost impossible to short Bitcoin in 2016… It wasn’t great, but it’s not critical. 
 

Mike Novogratz

Founder, Galaxy Digital

In February Mike expressed the opinion that, thanks to institutional money, Bitcoin will reach $ 8,000.