Brian Kelly to See Bitcoin as Internet in 80s

Founder and CEO, BKCM LLC believes that Bitcoin is in early stage of its development
16 April 2018   955

Founder and CEO of the BKCM LLC investment company , Brian Kelly compared the crypto-currencies with the "Internet in the 1980s", stressing that bitcoin is still in the early stages of its development, on CNBC.

Speaking about the potential of bitcoin, Kelly stressed that he used to compare crypto-currencies with the Internet as he was in 1995, but over time he realized that the reference should be made to a much earlier stage.

I think this technology is going to work, it’s going to be game changing, but it’s very early days, so we can have this massive volatility. 

Brian Kelly

Founder and CEO, BKCM LLC

Kelly compares bitcoin with Internet companies, such as Cisco and Microsoft, at the stage of their formation, where bitcoin could play the role of a router or an Internet protocol. At the same time, he emphasizes that the classification of bitcoin as a security or a company is incorrect.

This is an open source software, you can’t think of it as a company, and that’s where people make their mistake [...] This is not a stock, this is not a company.

Brian Kelly

Founder and CEO, BKCM LLC

The expert also mentioned the recent report of Barclays, whose employees compare bitcoin with an infectious disease. Kelly noted that it was after such negative articles he "wanted to buy an asset, be it bitcoin or not."

On Friday, Kelly said, he supports Tim Draper, who expects the bitcoin rate to reach $ 250,000 by the end of 2022.

VeriBlock to Report on Mainnet Launch

VeriBlock believes their technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”
21 March 2019   79

Using the bitcoin blockchain to ensure the safety of altcoins, the VeriBlock project announced the launch of the main network. This is reported in a press release.

According to the developers, the VeriBlock technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”. The project is confident that this approach not only ensures the security of less popular networks, but also allows their developers to focus on innovation and functionality.

According to analysts of The Block, 25–45% of bitcoin transactions fall on VeriBlock. The VeriBlock network uses a consensus algorithm called Proof-of-Proof (PoP). The project seeks to ensure the safety of other blockchains by loading a snapshot of the altcoin registry into the BTC blockchain, using the OP_RETURN function and other methods to embed network state data.

The project’s website states that PoP allows altcoin networks to use the most protected Bitcoin blockchain with its Proof-of-Work algorithm.