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Adam Back sends BTC on a moon mission

“Experts” agree: Bitcoin is heading unchecked towards a six-digit price level. Meanwhile, the enfant terrible of the Bitcoin community is back. The opinion ECHO.

Price forecasts are the stuff that Hodler dreams are made of. While Shakespeare rotates in the grave in the face of the botched quote, the haggling competition among the highest-bidding Bitcoin oracles is flourishing on social networks as ever. Even if the range couldn’t be wider, one number seems to have been agreed as a medium-term target price. Even supposedly conservative analysts like Bloomberg market expert Mike McGlone are now chiselling the US $ 100,000 mark in stone.

The only disagreement is actually about the timing.

Adam Back plays Bitcoin lead pouring

According to PlanB’s stock-to-flow model, we have already passed the point in time at the beginning of August. The model still leaves some room for maneuver, but the “100K” should then be under the Christmas tree at the latest.

Bitcoin veteran Adam Back sees it very similarly. The Blockstream CEO was a guest on the “Best Business Show” by crypto evangelist Anthony Pompliano and gave his “cautious” assessment. 100,000 US dollars are still “quite possible” this year, says the cryptographer, who was one of the few who had direct email correspondence with Satoshi Nakamoto and who was the third Hodler to have immortalized himself in BTC history.

In the long term, he does not even want to rule out a jump to US $ 500,000 and uses the argument that the market capitalization of the digital store of value will replace that of its physical counterpart gold in the long term. Because:

Bitcoin is better than physical gold in many ways.

Admittedly, the explanation is not particularly original. The fact that Bitcoin-Gold flippening also requires a rather unlikely, widespread migration of gold investors to Bitcoin, is also often swept under the carpet. Nevertheless, the scenario has lost none of its attractiveness among die-hard Bitcoiners.

Oh dear, Craig is back – and makes Elon Musk offers

Someone Adam Back should have known well from the old days is making a name for himself again after a long period of abstinence from the crypto show business. Craig Wright, who has already exercised so many professions and completed training courses that it would go beyond the scope of a list, has personally invited Elon Musk to this year’s Coingeek Conference in a video message and is on a cuddle course:

You and I both have long histories of innovation. Especially in the area of ​​payments. With your disruptive work at and mine as Satoshi Nakamoto who invented Bitcoin, a system designed as a simple digital cash system, we can work together to change things.

First you realize: Yes, Craig Wright, without blushing, still thinks he is Satoshi Nakamoto. As such, at some point he no longer wanted to accept the developmental disorders of his “baby”, and with Bitcoin SV Satoshis – that is, his – real BTC vision. This is not only far superior to the original in terms of scalability and carbon footprint, but can also embed companies such as Tesla or SpaceX in a fertile IoT ecosystem. However, he leaves open how four-wheelers can “exchange energy” with one another via Bitcoin SV and interact with smart cities. Wright doesn’t say a word about the 51 percent attack that the network suffered earlier this month. And whether the carbon footprint is such a good argument when such a low hash rate issues hackers a letter of security is also questionable. In any case, Musk has not yet accepted the invitation to the Bitcoin SV conference.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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