Bitcoin price THREAT: Bitcoin WON’T last past 2018 but THIS cryptocurrency WILL
Bitcoin will not survive but that does not mean the entire cryptocurrency craze is dead with useful cryptos like Ripple
and ethereum surpassing bitcoin, Benjamin Quinlan, chief executive
officer and managing partner at Quinlan and Associates revealed.
Speaking to Bloomberg, he said: “We think that various forms of cryptocurrencies will survive and will do very well.
“We think that cryptocurrencies with potential applications and utilities such as ethereum or ether, smart contracts can be built on top of it, decentralised applications.
“Bitcoin in its current form can’t do that. Other cryptocurrecnies have anonymity functions and privacy that far surpasses the level of bitcoin and some have transaction processing times that also surpass bitcoin.”Quinlan compared bitcoin to early social media platforms which were overtaken but newer, more functional sites.
He said: “If we look at, and we drew an analogy and I’ve spoken about this before to our clients, it really is if you equate the blockchain technology to something like the internet.
“You look at the underlying applications of it, social media is just one application of the internet whereas cryptocurrencies is just one application of the blockchain.
Speaking to Bloomberg, he said: “We think that various forms of cryptocurrencies will survive and will do very well.
“We think that cryptocurrencies with potential applications and utilities such as ethereum or ether, smart contracts can be built on top of it, decentralised applications.
“Bitcoin in its current form can’t do that. Other cryptocurrecnies have anonymity functions and privacy that far surpasses the level of bitcoin and some have transaction processing times that also surpass bitcoin.”Quinlan compared bitcoin to early social media platforms which were overtaken but newer, more functional sites.
He said: “If we look at, and we drew an analogy and I’ve spoken about this before to our clients, it really is if you equate the blockchain technology to something like the internet.
“You look at the underlying applications of it, social media is just one application of the internet whereas cryptocurrencies is just one application of the blockchain.
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