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Ethereum Miners Hit Back at Plan to Cut Miner Rewards by Over 70%

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A fresh proposal for an Ethereum improvement (EIP), aimed at reducing block rewards by a massive 75 percent, caused severe disapproval by Ethereum miners who claim that the move would jeopardize the safety of the network. Miners say that those responsible for the new EIP-2878 care less about the security of the blockchain and are more concerned about the interests of the investor.

The fresh EIP-2878 suggests proof-of-work validators reward be slashed by 75 percent, from 2 ETH per block mined to 0.5 ETH. The justification of this plot is to align Ethereum’s inflation index in line with that of Bitcoin and safeguard Ethereum’s power parities.

https://twitter.com/JohnLilic/status/1294600620847108096

The proposal was originally published on August 11 by ConsenSys Managing Director John Lilic and Ledger’s Global Head of Client Success Jerome de Tychey on the Ethereum Magicians Forum, where developers and miners can discuss its effectiveness. However, the responses of the miners since the proposal was made have been against it.

Ethereum miners worried fresh EIP might leave the network vulnerable to attack

In particular, Ethereum miners who use GPUs did not waste much time before hitting back at the fresh EIP. The primary concern of GPU Ethereum miners is the significant decline in block rewards reduction more than doubled the previous modification, which might facilitate a 51 percent attack on the Ethereum blockchain.

According to Time Beiko, the product manager at PegaSys:

“The biggest consideration, in my opinion, should be the security of the network (i.e. how do we ensure the likelihood of 51% attacks remains low, how do we keep a diverse set of miners on the network, etc.).”

Another user raised a different query in his argument against the fresh EIP, claiming that ASICs which are more profitable compared to GPUs would kick them out of the market if block rewards are reduced without changing the algorithm.

A drop to 1.5 ETH or 1 ETH would be more reasonable

The co-founder and CEO of Bit Capital Group, Jimmy Thommes, argued that the Ethereum network should stop trying to imitate Bitcoin’s inflation rate because it is an older network created under different ideologies. In addition, the fresh EIP makes Ethereum miners feel that they are taking advantage of it.

Indeed, most of Ethereum miners were not against the precept to reduce block rewards as Ethereum network does not have an inbuilt halving tool like BTC to curb inflation. The system is dependent on EIPs to curb inflation rates with proposed block rewards diminution. However, the majority of Ethereum miners offered a reduction to 1.5 to 1 ETH would be wiser.

Ethereum 2.0 Validator Testnet Launchpad is Officially Live

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For Ethereum, it is better late than never.

After months of anticipation and development on the Ethereum 2.0 network, the organization’s official blog announced the release of the ETH2 validator launchpad(testnet version).

Alongside Consensys and DeepWork Studio, the blog mentioned that the launchpad is officially live and validators would be able to keep track of their deposit into the upcoming Medalla multi-client testnet. Additionally, the blog post added that the objective behind the release of the launchpad is to ease the process of becoming an ETH2 validator, without compromising on the security and education of the new network.

The post stated,

“In contrast to using a third-party service, running your own validator comes with the responsibility of managing your own keys. This responsibility brings with it an inescapable tradeoff between ease-of-use, security, and education.”

ETH 2020

The post continued to explain the reward aspect of the validator in order to make sure the users have a good grasp over the amounts of reward each validator stands to receive.

The rewards are not fixed for each validator and it will vary according to the amount of ETH staked in the network. It said,

“In plain English, if the total amount of ETH staked is low, the annual reward is high, but as the total stake rises, the reward received by each validator starts to fall.”

Launchpad may improve Ethereum’s current rally

For Ethereum the launchpad announcement could not have arrived at a better moment. There is already a major buzz around the industry with regards to Ethereum’s bullish rally at the moment. Ehtereum is currently valued at $316 and the aforementioned development can largely push its stock higher in the next few days.

If Ethereum surpasses $335 within the next few weeks, it will cross the yearly-high set back in 26th June 2019, after already breaching past its yearly-high of 2020 at $289.

At press time, Ethereum had a market cap of $35 million.

Ethereum 2.0: Major Parts You Didn’t Know About ETH’s Imminent Move

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The Ethereum community has been anticipating the launch of phase 0 of ETH 2.0 for quite some time now. Discussions on various platforms and forums with regard to potential benefits, changes in economic structure, etc. have been fervently debated, but many other important aspects have gone under the radar.

Thus, the recent evaluation by Tanner Hoban and Tom Borgers of Consensys shed light on the various important implications of the eventual implementation of Ethereum 2.0.

The duo received handsome funding from MolockDAO, and after 4 months of analysis, Hoban and Borgers reviewed the economics network of Ethereum 2.0. The study was developed keeping in mind a set of assumptions that assisted them to validate the profitability and cost of network attacks.

Ethereum 2.0 much more complex than Ethereum 1

A no-brainer derivation of their study indicated that ETH 2.0 is notch above the current system in terms of functionality and network design. The analysis suggested that the staking perspective of validators is more complex than what meets the eye, presenting a challenge and uncertainty for potential efficient validators.

Network dependent highly on ETH Price and Market Volatility

A stark contrast to the current network; the study revealed that Ethereum 2.0 will be highly dependent on the price of Ether and market volatility. Market volatility is an uncontrollable variable on the market, and therefore, such a situation may give rise to concerns from the community. For example, future volatility repeating the March 2020 conundrum may have enormous implications for the said future network, indirectly reducing the cost of an attack on the blockchain.

ETH 2.0 easier to attack than ETH 1

A statement that will attract a lot of attention, a reduction in physical hardware and power consumption is apparently going to open up new attack vectors on the imminent ETH 2.0 network. In order to orchestrate an attack, perpetuators would only need more ETH and no more machines to make hack easier.

This might be a major worrying sign, given that DeFi was the gateway to several security breaches in 2020. DeFi growth and eventual connectivity to ETH 2.0 can greatly accelerate such attacks.

Lack of Liquidity may lead to Centralization in Phase 0 and Phase 1

Finally, the lack of a bridge between ETH 1 and ETH 2.0 is likely to be a red flag as it suggests a lack of transaction capability in Phase 0 and Phase 1. With capacity greatly reduced in ETH 2.0, a lack of liquidity may lead to a concentration of validators using their positions in a more centralized structure.

As a result, the complete picture surrounding Ethereum 2.0 continues to be unclear at multiple levels as the Imminent shift draws nearer.

Blockchain-based Media Startup Civil Shut Down

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Civil, a decentralized blockchain-based media startup, has closed its shop today, and its official website is now been replaced by the company CEO Matthew Iles’ message on this move. The crew and technology behind the media startup were all absorbed by ConsenSys.

ConsenSys is an Ethereum incubator based in New York, funded by Civil. In the meantime, employees and tech used by Civil have been assimilated to an Ethereum-based provider of identification solutions that is going forward.

The blockchain-based media startup was founded back in 2016 as one of the pioneering companies to explore the potential of blockchain technology and crypto in the media industry. In addition, the objective of Civil was to enable publishers to set up a credible media outlet by staking its native CVL tokens.

“Although the journey for Civil is over, our new team continues to develop cutting-edge technology that I believe will contribute to building a better internet. This isn’t the outcome we had envisioned, but nevertheless, we’re proud of what we accomplished,” writes IIes.

Additionally, users could also use the CVL tokens to reward publishers or even stake them to participate in decision making on the platform. Unfortunately, Civil’s initial coin offering (ICO) back in 2018 did not turn out as anticipated, forcing the startup to rework its strategy, and gave it another shot in March 2019 by offering membership to its users.

Blockchain-based media startup has been on the closing track for six months

Furthermore, as per the startup’s post mortem interview, it has been on the way to shut down for about six months now. Civil has had major employees leave and on top of this; the firm lost its basic funding from ConsenSys, and it was impossible to replace the funding.

Early into the year, the blockchain-based media startup ceased financing newsrooms; while future collaborations with established media outlets didn’t work out. As a result of all these shortcomings, the Civil’s magnificent exercise of a decentralized; self-regulated media marketplace, unfortunately, came to a stop.

Wipro: Blockchain and the Enterprise Wide Priority for 2020 and Beyond

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Blockchain technology, which hit the stage back in 2009, is still in its early stages and a lot of its potential has yet to be discovered. The decentralized digital archive is currently used to transfer ownership of property, properties, patents, and even contracts. Enterprises are rapidly implementing blockchain technology to add value to their companies.

Moreover, a report by Gartner back in 2019, predicted that the business value added by blockchain will slightly increase by more than $176 billion by the year 2025. In addition, the research advisory firm’s forecast suggests that the business value will then surge upwards exceeding a massive $3.1 trillion by the year 2030. 

The Gartner report indicated that, by 2025, more realistic use of the technology should have been identified, instilling confidence in the blockchain. As a result, this will spur the rapid growth and adoption of blockchain technology.

Ignore Blockchain at Your Own Peril- Report by Wipro & HFS

Moving forward, a recent report conducted by IT firm, Wipro Limited in partnership with research firm HFS, suggests that 75% of executives respondents are exploring how to utilize blockchain technology to the advantage of their firms. The report released on March 5 by Wipro, titled ‘Ignore blockchain at your peril, but don’t drive blindly’, claims that only 1% of executives find blockchain as unnecessary. 

The report is a result of a global study by Wipro & HFS, conducted with 300 executives, who include over 100 c-level executives who are directly involved in their firm’s blockchain projects . Additionally, during the survey, 940 blockchain initiatives across the industry were analyzed. The study looks at the state of enterprise blockchain and how enterprises are embracing it.

According to the chief research officer at HFS, said Saurabh Gupta:

“In 2019, we witnessed pioneering blockchain initiatives succeed and proceed from proofs of concept to pilots to ‘live, in-production’ while several other efforts failed to move beyond laboratories. 2020 promises to be the most exciting year with enterprise blockchain adoption coming of age to solve real-world business problems.” 

‘Blockchain 6-Pack’ Driving Enterprise Blockchain Adoption

As per the report, the ‘blockchain six-pack which includes; distributed shared data, consensus-driven trust, immutable transactions, data security, smart contracting, and permissioned and permissionless flavors; is what is driving enterprise blockchain adoption.

The report claims that more than 95% of enterprise blockchain’s key focus areas are:

  • Identity 
  • Crypto and tokens
  • Trade such as trade finance peer-to-peer trading and commodity trading
  • Remittance
  • Supply chain asset management and logistics
  • Fraud prevention
  • Finance

Furthermore, the report claims that blockchain adoption is gradual but progressive. In fact, at the moment only 14% of all blockchain engagements globally have reached the production stage. Nevertheless, the majority of blockchain users are ambitious and want to get to that level within the next two years.

Despite all the blockchain craze, the report found out that 60 percent of enterprises; are limpid about blockchain adoption and only 30 percent are ambitious but struggle to hit the ground. As per the report, taking a balanced approach towards implementing enterprise blockchain is crucial to its success. Gupta adds that it’s not possible for businesses to ignore blockchain since it is a value creation lever. However, she contemplates that people should not get carried away by the hype surrounding it.

Indeed, the findings of the survey suggest that 75 percent of executives; are employing blockchain for immediate impact or gain competitive advantage. The areas of focus include enhancing process efficiency and excellence, management of data and identity; business productivity, IT on top of transparency, trust and immutable payments and transactions.

Conclusion

The survey involved all major geographies of the planet including; Europe, North America, Asia Middle East, Latin America, and South-east Asia. Substantial coverage was on industries which include Banking, Financial Services, Insurance, Energy and Utilities, Industrial Manufacturing, Retail and CPG, Hi-tech and Telecom, Healthcare and Life Sciences, Travel and Hospitality, and Government and NGOs.

Full Fledged Cryptocurrency Bank in Works as Caitlyn Long Emphasizes Digital Asset Importance

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As time progressed, more and more people entered the cryptocurrency industry, with institutions becoming the main target for digital asset companies. The influence of mainstream players has also brought the industry to the fore.

According to new reports, Caitlin Long who shot to fame for drafting Wyoming’s blockchain legislation has decided to launch the US’ own bank for digital assets. 

Long has begun to prepare to apply for the Special Purpose Depository Institution [ SDPI ] with Wyoming’s banking division. The digital asset bank, titled Avanti, will aim to provide regulated services for virtual assets in the state. Avanti will collaborate with Adam Back’s Blockstream to provide digital asset services to its users.

According to Long:

“I’ve founded Avanti with key support from top people in crypto and important innovators from traditional finance. Seed funding round recently closed. Avanti will serve institutional customers that need services around Bitcoin and cryptoassets. Thanks to the wise Wyoming legislature and Governor Gordon, Wyoming paved the way for such banks to exist via its special-purpose depository institution (SPDI) law.”

Avanti is expected to be launched sometime in 2021 with plans to improve the ecosystem already in operation. The cryptocurrency bank has already raised one million in seed funding with more prospective investors in waiting. Long claimed that the burgeoning cryptocurrency industry was too hard to ignore and it was high time that people tap into it.

Long believed that the United States banks and trust companies just did not have the resources to navigate the fintech world. She claimed that Avanti will enable the US to compete with other crypto-interested countries such as China and Japan. The Wyoming SPDI on their part has placed stringent requirements for the bank to pass before it can come to fruition.

The association with Blockstream will allow multiple features to be integrated into Avanti. These features include multisig signing-as-a service and upcoming native Blockstream features. Avanti’s policies list that it wants to be fundamentally different from mainstream banks by providing cutting edge technology to its account holders.

Proponents of the field have begun studying what Avanti can offer to the cryptocurrency populous on launch. The partnership with Blockstream will enable Avanti to build adjacent APIs and conventional banking APIs. Adam Back, the CEO of Blockstream also announced that they will push everything to make Avanti a one-stop-shop for cryptocurrency custody.

 

Ethereum 2.0 ProgPoW: Technical Updates and Specifications

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On 21st February, Ethereum released updates for the developer community. The Ethereum core devs were running the live announcement when they also spilled out that they are moving forward with Ethereum 2.0 ProgPoW.

ProgPow [Programatic Proof-of-Work] will bring an update for making Ether mining more ASIC resistant, it will add more cryptographic functions to Ethereum for which a hard fork will be scheduled sometime in July.

Ethereum’s consensus mechanism switch has been in talks amongst the developer community for a while. With Ethereum 2.0’s launch this year a lot was cooking as the core devs had to finalize the appropriate consensus mechanism for their future vision.

Meanwhile, the world was pretty sure PoS was the go-to approach it has been quite surprising to see the team move forward with ProgPoW.

To give some background on ProgPoW, it’s an alternative PoW architecture that increases decentralization by making it difficult for ASIC chip based miners to mine in favor of more affordable GPUs.

But why ProgPoW over PoS?

Proof-of-Stake has its pros over Proof-of-Work in terms of energy efficiency; mainly low computational power and less electricity consumption. Although concerns of security have grown as the community has started addressing issues with the PoS.

Under PoS, Profit centric, capitalists in the ASIC farms would progressively centralize the network to gain ownership of Ether for a close-knitted small group of parties, conceivably undermining the decentralization of Ethereum 2.0. 

Whereas in ProgPow, the algorithm has been architectured to put bars on the efficiency of ASICs mining; ETH not more than 20% of the efficiency of the GPU can be mined. Making it profitable for small miners to scale and large rigs to limit their authority.

What does this mean?

Small miners or individual miners need not worry. If anything at all the update helps them leverage their current resources to get better mining opportunities. When it comes to mining giants such as Bitmain, Genesis, Canaan and more, their chances of exploiting the network vulnerability have decreased significantly. Opening doors for better security and decentralization. 

Devs recognize that ProgPoW hardfork would be “contentious” due to its unconventional approach. Speculators have even raised their concerns regarding exchanges being in the position to run two Ethereum versions to create a chain split and new hardfork of Ethereum in order to increase their fee profitability on the platform. Although Ethereum core devs believe that’s highly unlikely.

Additionally, along with the update the core devs released details, such as:

  1. Prysm Testnet is now working with 41, 686 validators and more than 300,000 system slots.
  2. Anticipated public release of the next version of the massive Lighthouse testnet will happen soon.
  3. Concepts derived from the ideas of Ethereum’s ‘operating system’ by Vitalik Buterin.
  4. “Execution environments” intended to pass balances across shards in sharding.
  5. Beacon Chain will highly likely occur by mid-2020

 

Mike Novogratz’s Crypto Investment Firm Lays Off 15% of its Workforce

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Per the latest report, Mike Novogratz’s cryptocurrency merchant bank, Galaxy Digital laid off 15% of its workforce which are almost 13 members from across all business divisions.

It was reported by the people close to the matter, stating that the layoff occurred from all of its New York-based business divisions including trading, asset management, advisory services, and principal investments. However, the good news for the firm is that no business line was disconnected despite the layoff.

Interestingly, one source familiar with the situation said that the company is currently open to hire candidates for several positions. It is further stated that the company is looking for prospects from recruiters, inbound inquiries and networking. However, the new decision to shrink the workforce from its team isn’t the new either, in fact, it is the company’s standard year-end activity, sources noted.

Moreover, the ex-official of Galaxy Digital shared his view on recent cut and elaborated that the firm has had high expectations on the digital asset markets while hiring people. Perhaps, the market’s bleeding value was the key reason why the firm later realized it had overbuilt.

Nevertheless, the current trading volume of Bitcoin and other altcoins appears to be on a new bull rally. Consequently, Bitcoin has recovered almost 40 percent of its value this year, gaining back fifty percent of its peak value. At the time of reporting this, the largest cryptocurrency, Bitcoin is trading at $10, 277 against USD.

Besides Galaxy Digital, ConsenSys was recent in a list that slashed 40 percent of its staff. Noticeably, the company’s major restructuring was the key reason behind lay off. More so, previous reports revealed that the ConsenSys has shut down its operation in the Philippines and India.

More Galaxy Digital Asset, the company is yet to witness the profit as it has experienced net loss from $68 million from $77 million in 2019 and 2018 respectively. Besides digital asset portfolios, the firm holds a potential portion in high profile companies including futures market Bakkt, Crypto lender BlockFi, Ripple, Ciphertrace and financial entity Silvergate Bank.

South Korea becoming a Hotbed for Crypto Activities

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Only a few indeed saw it coming. The crypto ‘virus’ is spreading and fast.

When cryptocurrency came to existence, almost a decade ago, only a few had an interest. It would be right to say that nearly 99% stayed far from the blockchain technology.

But, what’s the current state?

The story has changed dramatically; what a difference ten years can make. The ”virus’ of adopting and investing in cryptocurrency is rapidly growing, and nowhere that’s happening better than South Korea.

The Richest are Investing

Everyone will want to place their money where their mouth is, and that’s not different from what the richest in South Korea are doing.

The country is now considered the hotbed for the cryptocurrency activity. The reason is simple; the number of companies and individuals alike investing in cryptocurrencies is rapidly growing with no signs of stopping.

A while ago, we already witnessed significant companies in the country, getting into the cryptocurrency industry. Some of them include internet giant Kakao, Samsung, Hyundai, and many more.

And now, another billionaire follows suit. Chey Tae-won, chairman SK Corporation, and the country’s seventh-biggest billionaire entrepreneur has now shown interest in blockchain technology and token economy.

As a result, according to a local news outlet Chosun, the interest from Chey has led to a decision for a subsidiary of SK Group to invest in a crypto fund that is created by ConsenSys.

Chey’s net worth is approximately evaluated to be around $2.6 billion as we write this post. He was formerly also responsible for securing funds for building Ulsan Grand Park, which is the largest urban park in the country.

It’s yet not clear on the amount of capital that SK will throw into ConsenSys. However, rumor has it that a total of $90 million is in the ranks.

Confidence Skyrocketing

Chey might have expressed his interest back when he attended the recent SparkLabs Demo Day 2019, and also during his reported meeting with Lubin, CEO of ConsenSys, the issued might have been the center of discussion.

The increasing number of major companies as well as the wealthiest folks dipping into cryptocurrency will only raise the confidence of the local investors to get into the business. It comes after a plethora of them were heartbroken from the bitcoin plunge to $3,150 from the all-time high of $20,000 in 2017.

Nevertheless, South Korea is rapidly growing alongside the crypto industry, with several getting into cryptocurrency every day. Busan, the country’s second-largest city, is even planning on creating a local cryptocurrency in collaboration with the BNK Busan Bank.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Joseph Lubin, Ethereum’s co-founder, predicted the 2018 disaster

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Vitalik Buterin gets all the glory for Ethereum’s foundation, but the fact is that he wasn’t alone at the beginning. Joseph Lubin was there with him.

It turns out that Mr. Lubin is a shrewd cryptocurrency analyst who forecasted the unmitigated disaster correctly we would see in the 2018 market, but who also thinks that the future looks very good for digital assets.

The new industrialists of the blockchain

Mr. Lublin is one of the crypto verse’s titans. In 2014 he was partly “guilty” for the birth of Ethereum in 2014. He was there with Mr. Buterin and a handful of other talented and visionary co-founders. So he can claim his fair share of credit in coming up with the world’s second largest cryptocurrency by market capitalization. That’s Ethereum, of course.

When Ethereum first arrived into the market, the token’s price was of USD 1,00. Less than four years later, in January 2018, it was trading at USD 1.420,00. It’s trading at USD 160,00 as we write this article. Granted, it’s not as impressive s 1.4k, but it’s still a fantastic success story.

Mr. Lublin chose to follow his path in 2015, and he became the leader at ConsenSys. It’s a software company that develops applications to deploy on the Ethereum blockchain and network. When the crypto market was at its height, Forbes named Mr. Lublin as the second-richest crypto millionaire (the first one being Chris Larsen, Ripple’s co-founder). He’s worth somewhere between one and five billion dollars.

As Forbes was bringing the world’s attention to him, ConsenSys was becoming a hydra. At 1,200 employees (and growing) it became unmanageable because it lacked a proper corporate organization that could keep things on track.

According to a Forbes report, the company tried to turn decentralization into a management style. As a result, there were few managers and reporting structures. If a project could have Mr.Lubin’s attention and approval, it would get from a quarter to a half a million dollars in funding without much requirements of revenue.

That was all possible because of Mr. Lubin’s fortune, mainly held in ETH tokens. He’s rumored to be the most significant Ethereum coins holder in the world.

The ConsenSys update

ConsenSys growth was unsustainable. Some calculations estimate the company’s excess spending at more than a hundred million dollars. The firm’s organization was a disaster when the 2018 bear market arrived. No corporation could take both hits at the same time. So ConsenSys found itself in a place in which it had to take a step back and reconsider its operations and management.

In December 2018, Mr. Lublin told the world that ConsenSys 2.0 was here. A new ConsenSys that would privilege “greater efficiency, accountability, and attention to revenue.” Every underperforming project or employee got the ax. Also, 13% of the staff got sacked. It was a picnic for the company’s critics who delighted in predicting the company’s downfall and linking it to the catastrophic year 2018 for the cryptocurrency market. The market hit rock-bottom on December 16th (one year minus a day from the market’s historic high) as Bitcoin reached the price of USD 3.237,00.

The future according to Joseph Lubin

The ConsenSys reboot was controversial. Publications, news sources, analysts and social media used ConsenSys trouble as an illustration for failure within the crypto verse. They delighted in contrasting the overall market situation in December 2018, after the “illusion” that was 2017.

On December 21st, 2018, Mr. Lublin stated that the markets had finally arrived at their most paranoid point. In his view, this was the lowest possible ebb. In his own tweeted words,

“I am calling the cryptobottom of 2018. This bottom is marked by an epic amount of fear, uncertainty, and doubt from our friends in the 4th and crypto-5th estates.”

He was right for the most part. BTC’s lowest point had arrived six days before his tweet, and it’s been recovering (if exceedingly slowly) since then.

Mr. Lublin also said that ConsenSys was in no danger at all and that its corporate health was in good shape.

He later added,

“We have been on the receiving end of an epic amount of conjecture and preemptive paranoia — filled with damning rhetoric about situations journalists and bloggers don’t have real data for, actual insight into, or understanding of.”

Mr. Lublin also cleared some things out. Rumors were around that the company would get rid of more than half of its workforce suddenly. The firm’s head explained that a restructuration had been going on since April and that the organization was indeed growing in some sectors.

Mr. Lublin’s vision for the blockchain industry is generally optimistic and positive. He thinks that Ethereum will solve its scalability problems thus allowing its token ecosystem to keep growing and maturing.

Again, the Ethereum’s co-founder has been right. From December 2018 on the market has been growing (the total market capitalization has increased by USD 30 billion).

Then April 2nd arrived, and it brought that legendary Asian buying order for Bitcoin. The asset increased 20% in price in sixty minutes flat. Bitcoin’s surge kickstarted the market which has been growing steadily for a full month already (and Bitcoin is expected to test the USD 6.1k sometime during the following week). Even as some terrible news has appeared (like the fact that Tether is, after all, not backed by a dollar per token), the bulls are still in charge of the market and Bitcoin is above USD 5.800,00.

But it’s still too soon to know if we are in the midst of crypto’s new bull run. When will we know if the crypto winter is finally ended? Will that be when Bitcoin’s price reaches USD 6500?

Mr. Lubin’s successful forecasts could be sheer luck or a coincidence. The cryptosphere is so fraught with predictions, forecasts, and prophecies of all kinds that it’s just unavoidable that some of them have to be right. But here we are dealing with the case of a person who’s been one of the driving forces behind the crypto verse’s growth, and that has knowledge, experience, and insight into the industry that only a handful can match.

He knows everybody who is somebody within the cryptosphere, and he has lots of insider information because he is one of the leading insiders. So it’s maybe not all about luck, or coincidence. Perhaps this one of the few “crypto-prophets” who knows and understands what he’s saying.

So we may or may not agree with Mr. Lubin in any particular subject. But the fact remains that his track record is excellent. With so much junk, or hype, or barely trustworthy information going around the cryptocurrency forums and websites all the time, it’s refreshing to find a source whose knowledge and reliability stand the test of time — and fact-checking.

No, we won’t encourage you to believe or to agree in everything with Mr. Lubin. We think that being aware of his views could be very useful sooner rather than later. But of course, everybody must make their own decisions based on their own thorough research. The bottom line is that anybody who wants to create a crypto success story of their own, can only profit from paying attention to one of the persons who’s managed to do exactly that before.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.