2017 a big year for Bitcoin according to Roger Ver

Bitcoin Jesus Roger Ver is convinced that the increase in Bitcoin’s value over the last few weeks of 2017 will continue.

Even though Bitcoin’s rapid rise has slowed somewhat and the thousand dollars have not been reached, many experts are still bullish.

Next month Bitcoin will be eight years old. Within a week, the share price rose by more than twelve percent. Bitcoin experts are therefore convinced that the uptrend will continue in 2017.

Roger Ver, the person behind Bitcoin.com, is even sure that 2017 will be the best year for Bitcoin. He commented on some of the current issues within the Bitcoin ecosystem and what role they would play in 2017.

2017 – the year of the Bitcoin formula?

Ultimately, there have been some attempts to list a Bitcoin formula exchange-traded fund (ETF) on stock exchanges. In 2013, the Winklevoss twins tried to get an Bitcoin formula approved by the US Securities and Exchange Commission (SEC).

It is now hoped that a Bitcoin ETF will become a reality in 2017. This would make the Bitcoin „mainstream“ in a positive respect and steer the ecosystem around the crypto currency towards its best times. Roger Ver is one of those who look to the future with such optimism.

„Ultimately this would have been possible since the Genesis Block. The regulators, however, have opposed it and so opposed millions of people worldwide.“

Blocksize – the big challenge for Bitcoin trader

What may well be cause for concern is the Bitcoin trader debate: it continued to boil up in 2016 and even now, at the end of the year, no final Bitcoin trader review is in sight. The resulting high duration of transaction confirmations leads to a flight to alternative crypto currencies.

Whether there will be the often announced hard fork – in the Bitcoin context an upgrade of the Bitcoin protocol without changing the blockchain – in 2017 is from Roger Vers‘ point of view a „15 billion dollar question“. Unfortunately, there is no concrete answer yet.

Finally, Roger Ver and many others are optimistic about the development of Bitcoin next year. While the block size debate remains one of the major stumbling blocks on the development path of the entire Bitcoin ecosystem, solutions such as Bitcoin Unlimited or Segregated Witness are being eagerly pursued from several sides.

Bitcoin Security
Precious attracts hackers. We still remember the Bitfinex hack, in which many millions of dollars could be captured by exploiting a poorly implemented multi-signature wallet.

Within the community, there is concern that more such hacks could lead to people jumping out of Bitcoin again and the value of Bitcoin falling back into the basement. Roger Ver sees things differently:

„One must not forget that none of these Exchanges has a significant market share. The hack of one of these Exchanges should therefore not have a long-term effect on the Bitcoin price.“

Roger Ver: Bitcoin regulates governments
Yes, this heading is deliberately formulated as upside down: One trend in 2016 was that governments made a complete turnaround in Bitcoin’s regulation: Countries like Russia or Vietnam, after years of banning or even banning crypto currencies, have had to accept that crypto currencies are unstoppable.

Japan even went so far as to abolish the sales tax on Bitcoin transactions.

How will that continue in 2017? Will there still be strict regulations against Bitcoin in 2017? Roger Ver is very optimistic here:

„Of course – that is ultimately what governments do. In the long run, however, Bitcoin will regulate governments and not vice versa.

Bitcoin bulls agree: Entry options are ideal

The financial market analysts at Weiss Ratings currently see the best opportunity of the year to buy Bitcoin. Accordingly, they see the long-awaited bottom reached. Binance-Ceo Changpeng Zhao has a similar view.

The winter sales can start – at least if the analysts at Weiss Ratings and the CEO of Binance, Changpeng Zhao, are right. As is customary in the industry, both announce the happy Bitcoin message on Twitter. This is what Weiss Ratings says:

„BTC has such a low level that it is currently becoming the best call option of the year. As a value store, Bitcoin has come to stay. We really think it’s the least speculative investment a person can make right now in crypto currencies.“

#BTC is getting to such low levels that it’s becoming one of the best buying opportunities of the year. As a store of value, #Bitcoin is here to stay. We truly think it’s the least speculative investment a person can make in #crypto right now.

Institutional Bitcoin profit investors in the starting blocks

In other tweets, the analysis team cites the increase in institutional Bitcoin profit investors as one of the reasons for this: onlinebetrug.de In addition, the upcoming Security Token Offerings will give the entire crypto market more seriousness. The plans around the Stuttgart Stock Exchange and the Solaris Bank, for example, give the analysis team at Weiss Ratings hope:

As stock exchange in Germany, the Stuttgart Exchange, in partnership with SolarisBank’s #Blockchain Factory, is pressing ahead with plans for a #cryptocurrency exchange that is „scheduled to launch in the first half of 2019.“ More institutional adoption! #crypto

Bitcoin profit: Only strong teams left

Changpeng Zhao also sees the Bitcoin profit standing in front of the door and this is not a scam. In a tweet he announced that the cooled market offers an ideal option to invest (again) in crypto currencies:

„While many VCs [venture capitalists] are currently „pausing“, we currently feel much more comfortable investing. The assessments are much more realistic, most of them now have prototypes or products, only the strong teams are left. Much better investment opportunities than ATH [all-time high]“.

While many VCs have „paused“, we are actually more comfortable investing now.
Valuations are more reasonable, most have prototype/product, only strong teams left. Much better investment opportunities than at ATH.

While VCs are afraid to invest in the cryptocurrency sector now as Barry Silbert said, Binance is expanding its crypto incubator.@cz_binance Respecthttps://www.coindesk.com/binance-is-expanding-its-crypto-incubator-to-5-new-cities …

Then the winter sales can begin.

Update: The original article quoted Weiss Ratings as interpreting the alleged registration of Amazon crypto domains as a bullish signal. However, this was (incorrect) information from the year 2017.

IBM: Blockchain Cooperation with India’s Telecommunications Providers

IBM wants to prepare Indian telecommunications providers for the fourth industrial revolution. The responsible regulatory authority TRAI has also recognized the potential of blockchain and DLT.

While crypto currencies have a hard time in India, the government around Prime Minister Narendra is very sympathetic to blockchain technology. Modi not only wants to push the cooperation of the BRICS states in this area; in addition, the World Economic Forum in Maharastra opened a „Center for the Fourth Industrial Revolution“ in October.

Indian interest in distributed ledger technology has also brought technology giant IBM onto the scene. The US company is currently working with Indian telecommunications companies on blockchain solutions for the country’s huge telecommunications market.

This Bitcoin code was reported by The Economic Times on 12 December

„We have completed the proof of concept and pilot Bitcoin code projects with all major telecommunications providers and with TRAI in this Bitcoin code area, Sriram Raghavan, CTO of IBM India and South Asia, told the Economic Times. TRAI, or The Regulatory Authority of India, is the Indian regulatory authority for telecommunications. It met with the companies involved on 10 December to discuss the next steps. A TRAI official told the Economic Times:

„[…] Telecommunications service providers are now in the process of updating their providers.“

First Step of the Bitcoin code

Both IBM and TRAI have so far been silent about which Bitcoin code providers are meant by this. In the coming months the first Bitcoin code and/or DLT products are to come on the market. First, the national Do-Not-Call database is to be converted to DLT. Customers who do not want to receive calls from telemarketers can register their telephone numbers there.

One thing is certain: the telecom companies of the subcontinent can certainly tolerate a fresh cell cure. Despite its immense size, the Indian mobile phone market is not considered to be very lucrative. The reason for this is the low prices. However, there is still enormous growth potential in the area of network coverage. 70 percent of India’s population lives in rural regions. Only 58 percent of the country is covered by the telecommunications network.