4 Billion Crypto Adopters Will Outnumber Internet Users Within Years, Predicts Binance CEO

By CCN.com: Binance CEO Changpeng Zhao boldly claims that cryptocurrency will reach more users than the internet in a matter of years. His wildly bullish prediction suggests that over 4 billion people on the planet will use crypto in the near future.

In a few years, there will be more users in #crypto than there are users for internet today.

— CZ Binance (@cz_binance) April 30, 2019

Crypto: bigger than the internet

Current estimates suggest that 58 percent of the global population have access to the internet. That’s a total of 4.4 billion people with China, India, and the United States leading the pack.

While exact cryptocurrency metrics are difficult to come by, recent estimates put global crypto usage at 139 million people. That’s a seven-fold increase in the two years since 2017, which puts crypto adoption on a rapid growth curve.

However, to reach CZ’s huge 4.4 billion prediction, crypto adoption would have to increase 3,065 percent. Many in the crypto space jumped to confirm CZ’s analysis, including Morgan Creek co-founder Anthony Pompliano.

Absolutely true

— Pomp 🌪 (@APompliano) April 30, 2019

Cryptocurrency adoption: powered by satellites?

CZ is perhaps hinting at the power of bitcoin and cryptocurrency to reach even those communities without internet access.

Crypto company Blockstream uses satellites to beam the bitcoin blockchain to remote locations around the world. Referring specifically to those without internet access, Blockstream said:

“Blockstream Satellite is the world’s first service that broadcasts real-time bitcoin transactions and blocks from a group of satellites in space. With the service, everyone will have free access to the bitcoin network, in any corner of the world, including the estimated four billion people not currently connected to the Internet, due to lack of availability or affordability.”

Huge communities in developing countries also rely on mobile phone payments without internet access. When blackouts ravaged Venezuela’s electricity supply, users exchanged bitcoin via text message services.

This is crazy i could use my #cryptocurrencies over sms in the middle of big Blackout in #Venezuela but i can’t twitt it because no Internet. this is powerful. @Cointigo pic.twitter.com/6rtVry8eb5

— Mr.WhO (@vnzonline) March 7, 2019

Binance Coin dominates 2019

The Binance CEO’s bold prediction comes as his native cryptocurrency Binance Coin (BNB) chalks up more 258 percent gains in 2019.

CZ’s cryptocurrency is the only crypto to achieve an all-time high in 2019 while others struggle to break the brutal crypto bear market.

4 billion crypto adopters will outnumber internet users within years, predicts binance ceo

Published at Tue, 30 Apr 2019 15:08:03 +0000

December 30, 2017

Bitcoin Interest Fork Slated for End of January

There have been a handful of forks from the main bitcoin Network over the past few months, and that seems to be continuing into the new year. bitcoin Interest plans to fork at block 505083, on January 22, 2018.

bitcoin Forks

Bitcoin Interest is the recently announced fork of the bitcoin network, including full replay protection. They’re planning on changing a few things, but keeping more of the protocol together. For those of you who don’t know, a fork is a split in the two networks. At the time of the fork, everyone who owns Bitcoins will have the same balance of BCI if they’re holding when the fork happens. The fork will form two separate networks, with their own coins, users, merchants, and miners.

There have been several since August, the first being bitcoin Cash. Many followed that were questionable, such as bitcoin Gold, bitcoin Diamond, and some others that have gained absolutely no traction. bitcoin Cash and Gold are the only two that have received support from the community.

bitcoin Interest

The team behind bitcoin interest have made a few key changes, but kept the core consensus rules intact. The BCI network will support Segregated Witness and keep the 1MB blocksize limit. On top of this, they’re changing the mining algorithm from SHA-256, the algorithm that all bitcoin ASIC miners are built for, to another known as Equihash. Equihash does not currently have ASICs built for it, meaning that this new network can be mined using GPU consumer hardware. The average block creation time has been kept at ten minutes, and the 21-million-coin limit has been preserved.

The coolest part about this new fork is the ability to earn interest on your current bitcoin Interest holdings. Once the network launches, you’ll be to “park” your coins and earn interest payments on it. As opposed to bitcoin, bitcoin Interest blocks will have two rewards. They’ll contain the standard miner reward along with a smaller reward that goes to a pool of investors who’ve parked their coins.

[youtube https://www.youtube.com/watch?v=RQGsZGh7RpY?feature=oembed&w=500&h=281]

Interest Rates

This pool is known as the Interest Pool, and blocks at first will contain a 1.08 BCI reward that will be distributed amongst pool members. This reward will decrease as the block height increases. The interest rate that you’ll receive is proportional to the numbers of coins you have parked compared to the total number of coins in the pool. For example, if you park 100 BCI and the pool’s total is 1000BCI, you’ll receive 10% of the interest rewards.

You also have options for how long to park your coins, or interest cycles as they’re referred to by the development team. You can park on a weekly or monthly basis, and if you unpark your coins during the interest period then you’ll lose any interest rewards you would’ve collected. The monthly option will pay out 70% of the rewards, whereas the weekly cycle will payout 30%.

Support

While the fork does not have a wallet to support it yet, some exchanges are already starting to support the fork. HitBTC has announced support and it’s assumed they’ll credit users with BCI based on their BTC holdings held within the exchange.

Since this fork has replay protection, it’s much easier to claim your airdrop than if it didn’t have those measures in place. Your BCI balance will be associated with your BTC private key, and you can simply enter your private key into any BCI wallet to have access to your coins. A word of warning however; make sure you move your Bitcoins to a different wallet with a different private key before you give out or private keys to anyone or any software. Keep it in a wallet until the date of the fork, and when you go to claim move them beforehand.

For more information about bitcoin Interest, please visit bitcoininterest.io.

What do you think about this upcoming fork? Do you plan on using the network? Let us know in the comments below!

Images courtesy of bitcoin Interest, AdobeStock, Shutterstock

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