Today on Altcoins This Week we discuss Vitalik Buterin’s comments on the end of the crypto era, Coinbase CEO’s states that it will take 5 years to involve 1 billion people in the crypto ecosystem and more.
Winklevoss Bros Get Patent For Key Storage System
The notable founders of the Gemini crypto exchange, the Winklevoss brothers, have been awarded a patent that will allow them to monetize a cold storage method involving air-gapped computers, geographically remote vaults, plastic cards, and, possibly, papyrus. The patent describes having a network of computers that would generate accounts for cryptocurrency storage, or crypto-related exchange-traded products (ETPs). The computer network, for security reasons, would be isolated, except when transferring assets, acting as a cold storage device. The network would then generate these keys for new accounts and then the keys would be segmented into parts, allowing them to be stored on various external memory devices.
Luxury Car Dealership Accepts Bitcoin
According to an official press-release, luxury car retailer Post Oak Motor Cars is now accepting Bitcoin and Bitcoin Cash as payment. The Texas-based dealership, notable for selling Rolls-Royce, Bentley and Bugatti, has integrated BitPay, a crypto payment service provider, to let clients purchase cars with crypto. The billionaire owner Tilman Fertitta said that this was done to enable the “very best buying experience”, and to allow anyone in the world to become a customer.
All of this is in contrast to Fertitta’s statement last year that most people will never own Bitcoin, since it’s not insured by the Federal Deposit Insurance Corporation
Coinbase CEO Says 5 Years Till 1 Billion In Crypto Ecosystem
Coinbase CEO, Brian Armstrong, made a prediction that within the next 5 years, the number of people in the cryptocurrency ecosystem will grow from 40 million to 1 billion. He claims this will happen because more and more companies are developing their own tokens. Regarding regulation, Armstrong said it’s a “big, open question”. He added that while he’s not sure whether the majority of tokens are securities, Coinbase does “feel a substantial subset of these tokens will be” so.
Buterin Says Radical Crypto Volatility Dead
Co-creator of Ethereum, Vitalik Buterin, claims that the days of thousandfold crypto growth as seen in 2017 are gone. In his interview with Bloomberg, Buterin attributed this to the fact that the public has become far more aware of blockchain and cryptocurrency than before. Now that the public has, according to Buterin, reached the ceiling of awareness of both cryptos and blockchain, he says that it’s now time to focus on improving their efficiency of use and accessibility. Making it easier for the public to use, he assesses, would eventually attract more people into the market.
Markets: Calm Week For Most Altcoins
Ether opened the week at $295.18, saw its highest point on September 4th at $286.45, and has since declined in price for the rest of the week. Reaching its lowest point on Sunday at $189.33, Ether has since recovered before closing the week at $196.92.
XRP opened the week at 34 cents, on thursday September 6th, XRP dropped to 28 cents before recovering to 30 cents on the same day. The lowest point for the week was on September 10th at 26 cents, managing to recover to 27 cents before the market closed for the week.
Bitcoin Cash opened the week at $648.33. Throughout the week, Bitcoin Cash has seen a steady decline in value. Hitting its weekly lows on September 9th at $468.81, the price corrected itself and closed the week on the $481.19 mark.
EOS opened the week on Monday at $6.47, and saw a drastic fall on Wednesday to $5.80. EOS reached its lowest point on Sunday at $4.69, but saw a market correction and closed the week at $4.97.
The last but not the least coin for today is Stellar, which opened the week at 22 cents. All through the week, Stellar has fluctuated between 19 and 20 cents but finally closed for the week on the 19 cent mark.