‘One Bitcoin Will Be Worth $1 Million,’ Cryptocurrency Pioneer Tells PayPal CEO

Dan Schulman, chief executive of PayPal, discussions with bitcoin pioneer Wences Casares about bitcoin, fintech and blockchain in a Facebook interview. Casares, a serial entrepreneur, has launched startups across South America and america, not minimal which is bitcoin wallet startup Xapo, which he currently leads. Casares is also a member of the PayPal board.

Schulman touts Casares among the foremost authorities internationally on bitcoin and blockchain. 14,800, clairvoyantly predicting that the price could change even while he spoke. Bitcoin and blockchain have captured people’s attention because they notice as an “interesting experiment,” said Casares. Casares warned, however, that given the type of an experiment, bitcoin and blockchain “could also fail.” He gives the bitcoin and blockchain experiment a 20% chance — at least — of failing.

He offered key investment advice, recommending that individuals don’t own more of the cryptocurrency than they are able to reduce. But after the warning, Casares provided a silver precious metal lining, saying there’s greater 50% chance that the bitcoin and blockchain test will succeed. But industry participants must be patient, as it shall take anywhere from five years to ten years before that success is solidified.

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Argentinian-born Casares has specific remembrances from his years as a child of his family dropping everything, thrice. He characterizes those memories as “emotional” and “social” rather than financial, and factors to the Argentinian government as having brought about events that resulted in the fallout — hyperinflation, for example. It was two steps forward and three steps back for his family because of this of government activity, confiscating bank accounts even. His childhood experience, in conjunction with an awareness of the world’s unbanked citizens without the blissful luxury of the US dollar, seems to have shaped his belief in bitcoin. As a total result, he’s pledged the rest of his profession and it is staking his reputation on it.

He is tugging for the bitcoin experiment to succeed because if it does, we’ll have a far greater world than we have today, he said. For the future of altcoins, he reminded PayPal’s Schulman that it is an test, one whose result no one understands. Casares also predicts a single blockchain for value, apart from certain use situations that merit a different blockchain, just like how there’s only one internet. He predicts that the probably blockchain will be bitcoin, which hasn’t suffered any hacks, but he admits that his prediction is speculative highly.

As for use instances of the blockchain beyond cryptocurrencies, Casares shows that the sky’s the limit, or people’s creativity is the limit in terms of use cases split from value. He envisions a global world where bitcoin is a global and non-political standard of value and settlement, so that future decades reflect on traditional exchange rates as nostalgic back again.

He sees a global where bitcoin is victorious whether or not Wall Street or Silicon Valley enterprise capitalists believe. As for the bitcoin and blockchain grand experiment, signals of success would be more of what we’ve been seeing for days gone by nine years for another nine years. Failure, meanwhile, could be the total result of various scenarios. Quite simply, don’t put your kid’s university fund or retirement savings into bitcoin. 1 billion in charitable donations globally.

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