Tag Archives: cryptocurrency

Will 2021 be the best year for Bitcoin and Ethereum?

A spectacular surge


Last year Bitcoin was up 307% and Ethereum was up 440%.

This is a historic rise that can be explained as a consequence of the impact of the pandemic, the crisis that the restrictions imposed by the COVID19 brought about and the entry of institutional investors.

No wonder Bitcoin was born in 2009 as a response to the financial crisis (remember that on September 15 of the previous year Lehman Brothers went bankrupt). A protocol created by the mysterious Satoshi Nakamoto, as surprising as it was ahead of its time, exposed the weaknesses of fiat money and the role of financial intermediaries, whose credibility was already very much in question after big financial scandals were uncovered. Following the footseps of Bitcoin, new crypto-currencies burst onto scene, some of them — it must be said — technically superior… But as the saying goes, the early bird catches the worm, and so did BTC.

Later, thanks to the young genius Vitálik Buterin and his team, Ethereum was born, which broadened the horizons of the new blockchain technology much further with the creation of smart contracts. Its applications were almost unlimited: from deeds and logistics to data protection or polls in a safe, transparent and efficient way.

But we are not going to tackle the technical aspects here, we are simply going to make our prediction for 2021.

Crypto forecast for 2021

One thing is for sure: if the regulators had wanted to get rid of Bitcoin or Ethereum, they would have simply done it already.
On the other hand, the underlying technology, i.e. the Blockchain technology, is going to be implemented in a host of applications, including, needless to say, cryptocurrencies and money transfers.

In 2021, unfortunately, the effects of the restrictions caused by the Covid19 will be harsh, specially for certain self-employed workers and some sectors such as tourism, hotels, catering, events, culture… We addressed such issue earlier on Financial Translator (see What impact will the coronavirus have on my job?)

In a low returns scenario, institutional investors have begun to buy the two most reliable cryptocurrencies so far: Bitcoin and Ethereum. They have also bought Litecoin and a few of the over 2677 cryptomonies that currently exist.

This has resulted in a dramatic rise in their prices: as of January 3, 2021, 1 Bitcoin is quoted at £28,101 (i.e. $34,101 or £24,940) and 1 Ethereum is quoted at $775,83 (i.e. $604 or £536).

No one has a crystal ball. Financial Translator does not know the future, but if we had to make an estimate, we would dare say that both Ethereum and Bitcoin will continue to rise in 2021, both because of the socio-economic situation and the strengthening of these two cryptocurrencies. As usual, we will see constant fluctuations, which are part and parcel of any volatile market. We also believe that Ethereum will continue to grow even more than Bitcoin as stakeholders become increasingly aware of all the applications ETH has to offer and the potential revolution smart contracts may bring about. However, Bitcoin has an ace up its sleeve: it is limited, just like gold. There is a limit to the bitcoins that can be mined, so chances are that, unless regulators ban cryptos, its price will skyrocket in the coming years. By the end of 2021, the value of both cryptocurrencies may have doubled or even tripled.

We would also strongly recommend not investing more than 5% of your income or assets in cryptos. Let’s call a spade a spade: It is a risky investment. But… Why not more than 5%? Because if everything is lost, nobody goes bankrupt, not even gets in a pickle, because of loosing 5% of their capital (10% might well cause you some troubles); but on the other hand, if it continues to rise, the investor can make a huge profit.

It would be fantastic to witness the appearance of a social crypto, as we discussed on Wrögl: the miracle of a local currency. But it is a different kettle of fish, or a currency of a different colour 🙂

Greetings and happy new year! Take care.

Pascalcoin, an awesome crypto with a bright future

Pascalcoin (PASC), a ground-breaking crypto

I have recently learned about a crypto that I’m quite sure won’t go unnoticed in the coming years. It appeared as though out of nowhere and, suddenly, its transaction volume nearly doubled that of other better known cryptos. It has indeed some awesome features that really drew my attention:

To begin with, Pascalcoin is written entirely in the Pascal programming language, which is an imperative and procedural programming language, designed in 1968–69 by Niklaus Wirthand and published in 1970.  It was named after the French mathematician, philosopher and physicist Blaise Pascal. As for Pascalcoin, the initiator, creator and original architect of the code is Albert Molina.

programming language
Blaise Pascal

A fundamental feature that helps PascalCoin stand out from the crowd  is the payload hash function that can be applied to operations on the chain. Believe me, it is no small feat.

Albert Molina on Pascalcoin

Pascalcoin is a very original cryptocurrency with a groundbreaking new technology called Safebox, which compliments the Blockchain in a way that allows it to be deleted whilst retaining its full cryptographic security. It means that it can achieve infinite scalability. A safebox is where you save amounts of each address through each block of the blockchain.

It was the first crypto to break the 100 transactions per second barrier, pioneering a new tier of scalability suitable for planetary-scale adoption.

If you want to learn more about Pascalcoin technicalities you can visit Pacalcoin: crytocurrency without need of historical operations.

David Bolet, a senior software engineer, Java architect and blockchain developer, has recently launched Pacalcoin’s first wallet. It currently works on Android.  I could contact him to ask him a few questions:

David Bolet, the genius behind Pascalcoin’s first wallet

pascalcoin
David Bolet

The first Pascalcoin’s wallet has been recently launched  and I took the opportunity to ask some questions to its creator: David Bolet. It is now in its beta version, but already operational.

Why should I download the Pascalcoin Wallet?

David: Pascalcoin is a great crypto, very technically advanced, but it has some barriers for users: the first one is that the wallet is limited to the Windows environment, or, if you like,  Linux, but only past a certain level. In addition, you need to have an account in order to get Pascalcoins, and it’s not plain sailing. The wallet brings users closer and makes it way easier to use.

How do you see the future of cryptocurrencies?

David: It goes without saying that there are a lot of cryptos. If you ask me, I don’t think they all will survive. As far as miners and traders go, they can’t bite more than they can chew. As I see it, in the future, we are likely to use the stronger and most widespread ones,  cryptos with a big community which are based on a robust software such as Ethereum, Bitcoin, Bitcoin cash, Ripple… and those that offer some special features or an added value… We must definitely pay close attention to Pascalcoin, Iota, Neo…  As Stephen Covey put it: “strength lies in differences. Not in similarities”.

Are you currently engaged in any other blockchain projects?

David: Yes, apart from Pascalcoin, I am an active member of a Blockchain community in Barcelona, and I’m very keen on Ethereum, which offers some awesome features,  most significantly smart contracts, with unlimited uses, maybe beyond our imagination, that can literally change the world as we know it.  We meet on a regular basis and, apart from developers, you can find all kinds of people, from bloggers to professionals from the third sector.

Last but not least… Where can I download the wallet?

David: It is now in its beta version, but already operational. I’ve received feedback from people all over the world, and I would like to seize the opportunity to thank them all for their invaluable support.

Just click on the wallet icon to go to the APP 😉

Thank you very much!

It’s my pleasure.

IOTA (MIOTA)

IOTA, the next boom?

Many think that 2018 will be the year of IOTA and its currency MIOTA. To be honest, It blew my mind when I first learned about IOTA: a crypto which in spite of not being based on blockchain, increases transaction speed and does not need either miners or fees? WOW!!!! Can it be real?… Is MIOTA silently eating other cryptos’ lunch?

iotacoin

IOTA is focused on providing secure communications and payments between machines on the Internet of Things. It has a market cap of roughly $14 billion. I first heard about this coin when Bosch corporation acquired a large number of MIOTA tokens in 2017.

miota
                The Internet of things

Iota makes use of distributed ledgers. As I said before, unlike most cryptos, it does not use blockchain. Instead, it uses a technology its developers call the tangle, wich is based on a mathematical concept known as DAG (Directed Acyclic Graph). This design is what distinguishes MIOTA from other cryptos.

IOTA TANGLE
IOTA TANGLE

IOTA does not need miners, so there are no fees either. IOTA is 100% free to use, but it is still decentralised. Everybody plays an equal role in the network. Any time a transaction is made, the issuer must help authenticate to prevuious and also random transactions. It uses a series of cryptographic algorithms along with many other sophisticated techniques to do this work. Any device can manage it without too much effort.

A network like IOTA supports and facilitates a machine to machine economy and allows for two important features: microtransactions and speed (TSS, Transactions per Second). The more people that use the network the faster it becomes. That’s why, in the near future,  I dare say IOTA has good chances to become the underlying protocol behind the next revolution: the internet of things.

Proz webinar

If you are interested in getting some MIOTA you can get them on  Binance. Please note that you must buy MIOTA with ETH or BTC, so you will need to transfer them from another exchange or wallet.

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