BTC is Likely to Be $100 Than $100k - Harvard Economist

Harvard professor and economist Kenneth Rogoff shows scepticism on Bitcoin perspectives
06 March 2018   273

The probability that in 10 years bitcoin will cost $ 100 is higher than the probability that its rate will rise to $ 100,000. This opinion is shared by Harvard professor and economist Kenneth Rogoff to CNBC.

I think bitcoin will be worth a tiny fraction of what it is now if we're headed out 10 years from now ... I would see $100 as being a lot more likely than $100,000 ten years from now. Basically, if you take away the possibility of money laundering and tax evasion, its actual uses as a transaction vehicle are very small.

Kenneth Rogoff

Professor and economist, Harward University

Contrary to Rogoff's suggestion, Blockchain Intelligence Group's research indicates that bitcoin was used much less often as a tool for illegal activities. Nevertheless, such transactions still account for a fifth of the transfers using cryptocurrency.

According to Rogoff, increasing pressure on the part of regulators will cause further declines in the rates of the cryptocurrency. At the same time, he recognizes that it may take considerable time to create the appropriate legal and regulatory framework.

It really needs to be global regulation. Even if the U.S. cracks down on it and China cracks down, but Japan doesn't, people will be able to still launder money through Japan.

Kenneth Rogoff

Professor and economist, Harward University

As a deterrent that prevented governments from moving to more proactive measures, Rogoff calls their interest in the technology behind crypto-currencies.

Zero-confirmation BCH transactions to be kept in China

The Chinese exchange Bitasia declared about the start of supporting 0-confirmation transactions for BCH
23 March 2018   7

The trading platform Bitasia is one among the first exchanges to provide zero-confirmation transactions. Due to this fact the traders can use the platform as speedily as possible.

Bitasia is a platform which allows the traders to exchange a diversity of cryptocurrencies (ETH, ETC, LTC, BTC, BCH ect.). This week the exchange claimed that after some consideration the trading platform would hold 0-confirmation transactions for the Bitcoin Cash retail chain. For merchants and other businesses such kind of transactions suggests the possibility to accept a digital currency before the first web confirmation. Nevertheless, according to the common position within the BTC community, at least one confirmation is necessary in order to preclude double spends.

Lately the developers Gavin Andresen and Tom Harding made specific patches to prevent forgeries from happening while 0-confirmation transactions are held. But then they have removed those patches from the codebase of the core. Today the BCH programmers and the community in the whole believe that zero-confirmation transactions are safe and have begun testing 0-confirms during the past few weeks. The BCH supporters were excited to find out that Bitasia had been going to keep  zero-confirmations., a new website, has recently posted a list of all the double spends` attempts against zero-confirmation BCH transactions. Those who support Bitcoin Cash are rather sceptical of the website`s data because the most part of the transactions have a cost set lower than the network relay minimum requirement. That can be explained by the fact that transactions under 1 satoshi per byte are usually never promoted among the BCH clients. Due to this, many BCH upholders regard the website as an effort to spread FUD (fear, uncertainty and doubt).