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9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Funds Race

01/02/2021
9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Payments Race

On December 31, billionaire investor Mike Novogratz requested his Twitter followers which blockchain coin has the very best likelihood of successful the funds race and provided 4 decisions. Novogratz stated there are many “contenders” and listed off Fb’s diem, tether, bitcoin money, and Circle’s well-liked stablecoin.

This week Mike Novogratz requested his Twitter followers out of diem, bitcoin money, USDC, and tether (USDT), which coin “has greatest likelihood of successful funds?” Novogratz stated that there have been a whole lot of contenders and requested his followers to present him their ideas on which coin would dominate. The tweet obtained a whole lot of replies and plenty of crypto asset proponents mentioned Novogratz’s query and had quite a few attention-grabbing theories.

9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Payments Race

“Diem has Fb community impact,” one particular person replied. “However will likely be very watched by regulators. Nonetheless ought to be #1 candidate if FB delivers. USDC ought to finally take over tether as it’s U.S. primarily based and fewer shady. Paypal could possibly be a shock challenger. Decentralised secure akin to empty set {dollars} too,” the individual added.

“LINK would be the final winner,” one other individual responded. “Platform winners clearly ETH, probably DIEM and lookout for AVAX. 2021 would be the yr of stablecoin experiments, with a number of custodial stablecoins being born and loads of cash made and misplaced in algo stablecoins. USDT and USDC reign.”

9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Payments Race

After all, a large number of bitcoin money (BCH) supporters took to the Novogratz tweet and mentioned the advantages of BCH as a funds rail.

“Bitcoin Money fingers down— Many BCH initiatives have been funded,” the bitcoin money fanatic Wizewizzz tweeted to Novogratz. “[Five] growth groups are innovating on the scaling entrance [and the] group is laser-focused on adoption [and] utility in the actual world. BCH goals to be sound peer to see digital money— No different undertaking comes even shut.”

Common Protocols’ developer Jonathan Silverblood responded to Novogratz and stated that for funds, “worth must be secure by default.”

“This offers USDC and tether a transparent benefit at present, nevertheless it additionally must be cost-efficient,” Silverblood added. “Because of this, I imagine that the winner doesn’t exist but. Out of the present contenders, I work on and imagine in [bitcoin cash] BCH because the rails. Particularly, I achieve this as a result of they’re specializing in the precise use case, and are innovating on this area particularly.”

9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Payments Race

There was additionally bitcoin (BTC) supporters who imagine BTC is a store-of-value (SoV), however that additionally the Lightning Community (LN) can act as a cost rail.

“Not a coin. A protocol. The SoV it routes will likely be agnostic. Lightning has a good likelihood,” the well-known information analyst Willy Woo tweeted to Novogratz in response to his funds coin tweet.

Nevertheless, a large number of crypto advocates responded to Woo’s hypothesis and stated that the LN can “solely work with good UX if crypto works just like the gold commonplace, you should belief custodians.”

One other individual added: “[The Lightning Network] shouldn’t be even safe in opposition to Flood and Loot assault.” Some people additionally stated layer 2 options will likely be hosted on the Ethereum (ETH) community first.

Many crypto-asset supporters imagine that whereas a store-of-value (SoV) like gold holds a $9 trillion market capitalization, the liquid funds market is way bigger.

Blockchain cost rails providing a dependable and cheap peer-to-peer digital money resolution are successfully focusing on the world’s money market or the worldwide M1. Compared to the valuable metallic gold’s $9 trillion, the $100 trillion liquid funds market is 1011% bigger than the SoV.

What do you concentrate on Mike Novogratz’s current tweet about blockchain cost contenders? Tell us what you concentrate on this topic within the feedback part beneath.

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