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Today we are going to have an update from Skycoin with one of the core developers, Synth. Before we get started, obviously we only catcoin block explorer bitcoin price two sponsors, one catcoin block explorer bitcoin price them is on the show.
Ark is the other sponsor. They have nothing really going on in the last few days, just marketing. Love Ark though go check them out. Get a ledger nano. If you are storing these coins on exchanges, you better start storing them on hardware. Stay up to date with their development because there are always lots of competitions always going on with the Ark team.
Synth has a lot of development updates for you guys. Skycoin is one of our core sponsors, so Synth how are you doing man? I think Skycoin is going to hit five hundred million dollars or a billion dollars before we get listed on the other ones.
We were going to get listed on Bittrex but then they SEC letter basically shut down the listings on all of the US exchanges, so we went back to square one. Binance has switched countries like four or five times in the past month.
C2CX still has us listed but they also switched countries like four times because of the changing regulatory things. So the exchange situation is crazy right now, and we are also in a bubble. So I think we are even lucky to have gotten listed on Cryptopia when we did. With getting listed on the exchanges now its all lawyers, making sure you arent a security and making sure you have a legit project. One of the exchanges that we are talking to.
So one of the things that we are lucky on, Skycoin has Skywire, so Skycoin is a commodity backed currency. The value of Skycoin is backed by bandwith. Another coin on Skyledger is https: I think we might actually end up being on that exchange first, but all catcoin block explorer bitcoin price their customers are basically… they are not crypto people. It is like a whole nother segment of people. They are very slow. Cryptopia when they listed Skycoin it took them like four hours to get listed on the catcoin block explorer bitcoin price from when the user community emailed them.
Like I worked for this company and we would do contract negotiations with Thomas Reuters and we would spend like two years in contract negotiations. I was talking to some guys in Hong Kong and they were working with a bank. They didnt even start yet after being like two and a half years into negotiations. I think they went to Dubai. They spent like six years in Dubai and they spent six or ten million dollars or however much it was and they got all of catcoin block explorer bitcoin price permits.
Catcoin block explorer bitcoin price have a community poll now. We are hitting like 70 people a day and its crazy so… the user community just started and they saw this poll online and they just started hammering the poll, so we won this poll to get listed on NextExchange.
We have a team following up on exchange listings and I think we are targeted for three DEXs. You send catcoin block explorer bitcoin price coins to a multisig address and one of the signatures is from an address controlled by the DEX and one is controlled by your address and then there is a timelock that says the coins will revert back to your ownership after thirty days or something.
So if the exchange goes down, or disappears, you will get your coins back after thirty days. When you make a trade on the exchange. You both have to sign it. So anyways, we figured out how to do atomic blockchain swaps with catcoin block explorer bitcoin price technical requirements, nothing complicated, to get DEX functionality. Also, we are building our own internal DEX too, which is a decentralized exchange, and we are also building our own OTC market and our own internal exchange.
So we are trying to get a development team together now to finish up the SKY exchange, so we might have four to six white label exchanges that we basically own catcoin block explorer bitcoin price are operating partners on. This is actually very funny because a week ago this company, very large company, announced that they are doing equities trading on the blockchain so they wont need a broker anymore.
Sometimes the broker would say that you have a million shares in your account, but he only owns six hundred thousand shares and then the broker goes under, so you lose half your portfolio. It happened like with like MF Global, whatever that ponzi was a few years ago.
With the blockchain though, you have this real catcoin block explorer bitcoin price settlement and clearing mechanism. Some company got a fifty million dollar contract to implement the exchange software for doing that and that company is like shit. We got the contract. I am getting messages per hour. People are just crazy. You can see the mania in their eyes, just raw greed. I ended up having three meetings with three different people all at the same time.
I want it now. When are they shipping? Give it to me now. People are getting like… they just see these coin prices going through the roof and they just catcoin block explorer bitcoin price to get rich right now. They want to buy the thing that it going to go from a penny to one thousand dollars next week.
There is too many noobs entering. The whales have too much control of the market. Especially the miners with Bitcoin, they are really showing that they have power. Basically, we brought on this marketing firm and they are relatively powerful like comparable catcoin block explorer bitcoin price New York Times, Wall Street Journal. Until we have the automated system in place, which is just being turned on now, I had to do these things by hands, so we were getting messages an hour for OTC sales.
Who invested in this coin? The guy who founded Techcrunch is doing a crypto fund of funds and he will take your money and invest in other people who are investing their money in crypto.
So basically you give him the money and he takes a fee and he invests that in other people taking your money to buy Bitcoin. They want someone else to tell them what they should buy and what they should do. I want to double my money. This is definitely a bubble right now. So, now the rodeo is just starterd. In ten years, some things are going to smooth out, but until then scams are going to keep running rampant. Projects that have no real substance to them are going to get weeded out.
Projects like this are going to keep chugging along. My personal opinion is that this is going to be the biggest financial bubble in human history. If you look at the dot com bubble they went up to like ten trillion dollars and I think that we are going to see the same thing for altcoins. So right now, the market is about three hundred billion dollars, about three hundred fifty billion with the current Bitcoin run up and the whole market is going to go up 30x.
It doesnt matter what you buy, whether you buy Litecoin, Dogecoin, cryptokitties, because the whole market is going to go up 30x. One of the reasons is that the US government shut down a lot of the tax havens. They shut down Panama. They shut catcoin block explorer bitcoin price the Virgin Islands.
They shut down Meritius. They shut down Hong Kong. They even went into Switzerland and they started putting KYC on the accounts. Then they had the Panama Papers and they started publicly shaming these people, hacking the accounting firms and leaking their names to the media and what was leaked was basically a threat. So all of these people now are moving their money into crypto.
So we have catcoin block explorer bitcoin price flood of about seventy trillion dollars right now that is slowly trickling into crypto, which is still only a three hundred billion dollar market and that is going to cause a bubble that could last like ten years. Most of these cryptos do not have anything. We are trying to create a coin that is backed by a user base, a community, and backed by bandwith. So we can compute what the cost of bandwith is and how much you pay per gigabit and we can buy and sell bandwith through Skycoin.
Solarbankers is doing a similar thing with their ICO. They are trying to create an energy coin. They have an asset backed coin where people would produce energy and then their neighbors would use the coin to buy catcoin block explorer bitcoin price energy.
So I think right now we have this flood of money, all of the cryptos are going to go up 30x. So basically everyone who is buying cryptos now is going to feel very rich at the top of the bubble, we are going to have a lot of millionaires and billionaires being created overnight.
He is going to be quitting his cubicle fund job to have enough free time to figure out what he is spending all of his altcoin bubble money on. By February, I think every single person in their family, or in their office, is going to know some guy who made ten or fifteen million dollars in altcoin money. When Bitcoin is like three hundred billion dollars, it can only go up so much. It might even hit 60k or even k before crashing.
You know the peak could be pretty high, but um, everything will go up. So what happens is you have a coin. You had to go onto some obscure exchange and buy these byteballs and then suddenly it gets on Bitfinex and Binance and all of this money and all of these bots start trading on it and the volume blows up into billions of dollars. This is exactly what happened to IOTA.