Raoul Pal has predicted a wall of money will power Bitcoin to $1 million by 2025. 

Bitcoin pundits have been rather quiet regarding the much predicted bull run recently, but last week Real Vision founder and CEO, Raoul Pal, went out on a limb and asserted that an “enormous wall of money” will be invested in the original cryptocurrency over the next few years, powering it to $1M by 2025. 

In an interview with Stansberry Research, Pal said:

“We’re going to go through two of these halving cycles, and just from what I know from all of the institutions, all of the people I speak to, there is an enormous wall of money coming into this. It’s an enormous wall of money, just the pipes aren’t there to allow people to do it yet, and that’s coming, but it’s on everyone’s radar screen and there are a lot of smart people working on it[.]”

Pal even went as far as saying he is contemplating switching his gold investments to Bitcoin, given the fact the crypto is now outperforming the precious metal. 

At this point, perhaps it’s worth remembering what Nigel Green, CEO and founder of financial consultancy firm deVere Group, said back in late July, when he pointed out that increasing US-China tensions and COVID-19 could push investors towards “decentralized, non-sovereign, secure digital currencies.” 

Despite a flurry of dramatic predictions around the time of the last Bitcoin halving in May, the crypto has seemingly been unable to find the traction it needs to break out of the $10-$12K zone. 

However, Pal isn’t alone in maintaining that if we just have a little patience, we’ll see BTC find its stride soon enough. Earlier this week, well-known creator of the stock-to-flow Bitcoin price models, PlanB, again said that the cryptocurrency is still on track for massive increases in the not too distant future. 

5 months after each #bitcoin halving
h/t @burdivelam pic.twitter.com/wKkXdFrrFQ

— PlanB (@100trillionUSD) October 8, 2020

Within the last few months we’ve also seen San Francisco-based crypto exchange Kraken suggest a significant price surge could be on the way for Bitcoin, and Virginia-based business intelligence company MicroStrategy bet big on BTC with a $250M purchase. 

One thing is certain right now, and that is the world is going through unprecedented changes, and is becoming increasingly unstable. Things we would have considered unthinkable just 12 months ago, like whole sectors of the economy being closed down at a moment’s notice, international and domestic travel being severely restricted, and even people’s social and family lives being put on hold by government diktat are now real. So, when it comes to where Bitcoin is going, anything is possible! 

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Conflux Network, China’s only state-approved public, permissionless blockchain project, has announced a partnership with Fetch.ai. 

Cambridge-based Fetch.ai is an artificial intelligence lab building an open-access decentralised machine learning network for smart infrastructure. 

The partnership with Conflux Network is aimed at propelling the adoption of AI and machine learning in the blockchain sector by enabling the deployment of Fetch.ai’s machine learning tech to bring seamless, cross-chain interoperability to its smart infrastructure, with speeds of up to 6,400 transactions per second. 

Furthermore, the EVM-compatible platform will improve interoperability across blockchains for any technologies developed on the Fetch.ai platform.

According to the company, the deployment of Fetch.ai within the Conflux Network will enable Fetch.ai to scale its toolkit and improve user experience through its high-speed capabilities. Fetch.ai will also be able to integrate their Autonomous Economic Agents (AEAs) with Conflux Network to efficiently deploy its AI Lego at scale. 

Conflux Network community members will be granted access to the Fetch.ai toolkit to integrate machine learning technologies into DApps created within the ecosystem, unlocking new value for intelligent use cases ranging from decentralised finance (DeFi) and supply chain, to IoT and mobility. 

Commenting on the news CEO of Fetch.ai, Humayun Sheikh, said:

“Through this partnership with Conflux Network, Fetch.ai is one step closer to bringing multi-agent systems and machine learning to all chains. We will continue to see an increased emphasis on interoperability within the blockchain sector, and look forward to leading that charge.”  

While Global Managing Director at Conflux Network, Eden Dhaliwal, added:

“We are very excited to partner with Fetch.ai and bring AI Legos to the Conflux ecosystem. Our partnership will help create a new world of decentralized commerce.

“Fetch.ai’s autonomous agent tooling and multi-party computation helps bring decentralized machine learning to blockchains, which is a critical step towards creating intelligent digital economies. Bringing these AI Legos to Conflux Network will help create a new world of decentralized and intelligent commerce.”

Staying with Fetch.ai, just last week the lab announced it had successfully completed a mainnet integration of Chainlink – the most widely used decentralised oracle network. 

AYO.NEWS says:

Though most people in the world have no idea, labs like Fetch.ai, and networks like Conflux, are now developing the infrastructure that will likely change almost every aspect of our economies and lives. The possibility of a global network of decentralised AI, that can be easily harnessed by developers everywhere, gives truly unlimited potential.

Of course, let’s just hope it’s used with good intentions! 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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Delta Exchange has announced the launch of the industry’s first turbo options, or callable bull and bear contracts, for Bitcoin. 

From today, traders using the Saint Vincent and Grenadines-based derivatives exchange can open turbo call/put positions to track the price performance of Bitcoin (BTC) with up to 200x leverage. 

Barrier price for the BTC options contracts will be 0.5% below the spot price and a mandatory call feature will give the right to the seller to call the option if the barrier price is hit. Initially, the new turbo options will be settled daily in BTC, with weekly and monthly settlements to follow.

Discussing the launch of the options CEO of Delta Exchange, Pankaj Balani, explained: 

“In the traditional markets, turbo options have become wildly successful because they provide traders with a way to capture the upside in underlying assets at fractional risk. By introducing these new exotic options to the crypto industry, we expect to drive increased open interest and participation in Bitcoin options trading.

“Turbo calls and puts are primarily retail driven products. They provide a way for retail traders to capture upside in the price of Bitcoin for a fraction of the price and without risking much capital. However, we must note that these products are exotic derivatives products and traders should make sure they understand the product and risks associated with them before trading in them.”

Crypto derivatives now capture more than $24 billion USD in daily trading volume, with BTC leading – breaking a record $2.4 billion worth of options contracts opened during last month’s expiry week. 

AYO.NEWS says:

While it’s great to see the crypto derivatives industry innovating and expanding, investors would do well to note Balani’s words when he explained that turbo options are “exotic derivatives products and traders should make sure they understand the product and risks associated with them before trading in them.”

Indeed, just last week the UK’s Financial Conduct Authority (FCA), confirmed that it will be banning retail crypto derivative products from 6 January 2021, citing a lack of understanding among retail investors as one of the reasons. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020.

Russian Premier League football club Zenit St. Petersburg is the latest to join blockchain-based fantasy platform Sorare. 

From today, Zenit players will be released as non-fungible token based collectible and tradable digital cards on the Ethereum blockchain, through the Sorare platform, joining over 100 other international clubs, including big names like Atletico Madrid, Juventus, and Paris Saint-Germain. 

In addition to trading, once users have collected at least 5 digital cards they can play fantasy games – with the score for each player card being correlated to their real-world performances. 

Launched in March 2019, Sorare now has more than 40,000 worldwide users, with Russia being the platform’s third-biggest market – seeing an incredible 70% month-on-month user growth. 

Discussing the news CEO at Sorare, Nicolas Julia, said:

“We are delighted to have the Russian Premier League side Zenit Saint Petersburg join Sorare today. We are proud to help Zenit shine even more all over the world through our game. This agreement is a key step in our vision to create a global fantasy football game with the top 20 leagues in the world.”

While General Director at FC Zenit, Alexander Medvedev, added:

“FC Zenit is proud to announce the collaboration with Sorare. We look forward with great anticipation to future engagements with our new partner and we see the possibility for developing new digital markets and joining the already 15 million fans playing the game around the world.“

As previously reported, at the end of September, Sorare officially launched in the United Kingdom – currently the platform’s 5th most important market in terms of user numbers.

AYO.NEWS says:

Blockchain platforms are opening up several exciting new opportunities for football clubs to engage with their fan bases and drive revenue. In addition to NFT-based trading cards, there’s also Socios.com from Malta-based Chiliz, which enables clubs to issue their own tokens, that fans can buy to gain voting rights and exclusive rewards, and lets not forget Blocksport’s comprehensive blockchain-based engagement platform. Indeed, Atletico Madrid, Juventus, and Paris Saint-Germain and several other clubs are embracing both Sorare and Socios.com. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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New bitcoin (BTC) sports betting exchange, Exbet, has launched, billing itself as “Betfair for Bitcoin.”

A full-featured and licensed betting exchange using BTC as its native payment option, Exbet offers a one percent flat rate commission, and allows users to trade across all major soccer leagues, the NFL, and cricket’s IPL, with more sports, including the NBA to be added later this year. 

Exbet also provides API integration for algorithmic trading, and third-party tools, and says it is already seeing encouraging pre-match liquidity on its markets. 

Commenting on the launch COO of Exbet, David Evans, said:

“With the sporting calendar back on track, we are thrilled to launch Exbet, the world’s first fully-featured and licensed Bitcoin betting exchange. Betting exchange users have, for too long, been neglected by a handful of operators more focused on short-term gains than the long-term health of the vertical.

“We see considerable opportunities at the intersection of blockchain and betting exchanges, with many cryptocurrency users already familiar with exchange mechanics.

“This new audience, combined with a growing number of exchange veterans and market makers switching to Bitcoin for our low commission rate, means we can offer strong pre-match liquidity immediately.”

AYO.NEWS says:

One of the clear advantages of using cryptocurrency for betting exchanges is the significant cost savings it offers, coupled with quick transactions and security. It will be interesting to see how the big established exchanges, like Betfair, respond to Exbet’s challenge. 

So far the only concerning thing regarding exbet seems to be the fact it is licensed in Curacao. However, unlike the Curacao-licensed Bitcoin casino we reported on yesterday, Exbet does have a KYC process in place for those wishing to increase their daily withdrawal limits beyond the basic level. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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Seapod home company Ocean Builders has announced it is turning a former P&O cruise ship into a floating city for crypto companies and entrepreneurs.

The company says the former P&O Cruises Australia cruise ship Pacific Dawn will be renamed Satoshi, and be permanently anchored in the Gulf of Panama, around 30 mins by ferry from Panama City. 

Satoshi’s 777 cabins will be sold via auctions aimed at crypto companies, entrepreneurs, and digital nomads, including families, and will boast restaurants, bars, retail outlets, a hair salon and spa, an outdoor movie theatre, a library, lounges, a gym, a casino, medical services, a water park, and even an ice creamery. 

Residents of Satoshi will be able to pay for goods and services using both Bitcoin (BTC) and US dollars, and will enjoy a discount at onboard restaurants. 

Commenting on the project Ocean Builders COO, Chad Elwartowski, said: 

“We look forward to creating a hub for technology and innovation here in Panama. Our goal is to figure out how to live sustainably on the sea and chart new waters in this new frontier.”

Prices for cabins are between $25K and $50K USD, plus monthly fees, and the first batch of 200 is set to be auctioned between 5 – 28 November. Cabins are being sold one deck at a time, to give companies the chance to buy adjacent rooms. 

The vessel, which was sold by P&O’s owner, Carnival Corporation, because of the ongoing COVID-19 crisis, is currently preparing to set sail from the Mediterranean bound for Panama, and is expected to welcome its first residents aboard sometime early in 2021. 

AYO.NEWS says:

Presumably, the real idea behind this project is to anchor in international waters, and hence outside of any specific country’s jurisdiction, allowing for unfettered crypto (and other) business. It’s definitely intriguing, and thanks to the COVID-19 pandemic, there’s sure to be a plentiful supply of excess cruise ships for sale over the coming years, so we could see entire flotillas of floating crypto-friendly offshore cities launch.

Perhaps one of the biggest questions will be regarding law enforcement and security. Though crypto entrepreneurs may not want to adhere to financial regulations, cruise ships like this will be massive, high-value sitting ducks for terrorists, hijackers, cartels, and common criminals alike – and if the residents and companies aren’t paying taxes, we can’t see that any country will be offering to provide free security. 

Of course, there’s also a whole host of other issues for anyone looking to reside permanently in an extra-territorial location. How do you maintain recognised residency status, how do you keep access to bank accounts? The list goes on and on…

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020.