Bitcoin’s Peak Hash Rate, Predicts Global Adoption | Crypto News

hey everyone today predicts global blockchain adoption an Austrian telecom service now accepts crypto bitcoins hash rate it's a new all-time high a Twitter account sports Bitcoin cash drama and Libra is already taking over the world despite not even existing yet this is cryptocurrency news with Molly Jane and Jax but before we get to the news hit the subscribe button below guys adoption is imminent Glen fobel the newly appointed CEO of yeah that's right we were talking about the site that literally everyone uses to book anything predicts the future relevance of botching based currencies was one of the founding members of the Liebherr project so it is pretty unsurprising that its CEO would predict such a future Fogell says when Bitcoin became well-known many questioned its legitimacy and while the jury is still out on the future Bitcoin I do believe currencies with a blockchain base will continue to surface and may become more widely accepted across the globe especially outside the US which has a well accepted credit card payment system his assessment doesn't appear to be wrong as the trend toward blockchain adoption is already materializing around the world with blockchain technology being supported in many different countries including China India and now even Austria insane so molly jean' how could the adoption of cryptocurrency services be beneficial for booking comment well there's two sides to this Jackson on one hand it can be beneficial for the global crypto community as a whole because whenever a big retailer adds crypto is an option like did back in 2014 it brings more name recognition to Bitcoin and makes it more accessible for people to use Bitcoin in their everyday lives on the other hand this could also be beneficial for both ENCOM itself because the use of Bitcoin or other cryptocurrencies on the platform could allow for more easy transaction it could allow for faster processing times less transaction fees that they're gonna be paying to credit card companies the middleman will be gone so in that sense it's it's kind of helpful for both sides but I do want to underline for you guys that nothing that the CEO said means the booking com is actually going to be adding support for crypto in the future this is just hypotheticals we're talking about here from August 19th customers of major Austrian telecom operator a1 can now pay for network services with cryptocurrency and seven selected shops throughout Austria six major kryptos will be accepted bitcoin ether XRP litecoin stellar and – the a one payment service was developed in collaboration with a few European payments solution providers including con artists and ingénieur echoing Glen Fogle the head of a1 business marketing Marcus Schreiber said that paying with digital currencies in becoming more and more prevalent globally while cash is becoming an obsolete model which is affecting all industries and really we have to see what the demand is going to be like how if people are actually going to use this service it reminds me a little bit of the interview that I did with the former mayor of zhuge and our documentary about Switzerland because in the town of Zook you can pay your taxes with crypto currencies and you have for a few years but when we asked him how many people did it was like five I guess for our Austrian viewers would you be interested in paying your telecom bill with cryptocurrency let us know in the comments bitcoins hash rate has been hitting new all-time highs this summer on August 19th it broke through eighty two point five Tara hashes per second according to blockchain comm Bitcoin investor Max Keiser pointed out earlier this month that he believes the hash rate is directly correlated to bitcoins price people believe that the higher the hash rate the more secure the network and therefore the more confident investors will be even though the hash rate has just hit its new all-time high bitcoins price is now on the decline trading at about five point five percent down in the last 24 hours as of the time of this recording so Jackson what does bitcoins Hatchery indicate bitcoins hash rate indicates the level of security of the network the greater the hash rate is the more secure the network is and by that I mean the network is healthy it can resist attacks it can resist 51% attacks and it just means it's a good sign for how the network is performing so if we take a look right now Jackson at the Bitcoin house rate versus bitcoins price in USD on bid info charts calm you can see that over a two-year period bitcoins hash rate and I have not been one-to-one correlated especially at the end of 27 beginning of 2018 but if you look more recently since about January this year until now they're both steadily moving up so one could extrapolate that the price and the hash rate are becoming more correlated but at the same time I'm hesitant to do so because looking at the whole two-year span it's really not the case even the majority of the time correct well I think in 2017 we saw some extraordinary circumstances to say the least and the amount of money that was being pumped into Bitcoin was not reflected in the hash rate but now that were as things have moved on and maybe so to speak have stabilized a little bit we're seeing a greater correlation between the price and the hash rate I just think that this means that the system is performing as it should be and it's reflected in the correlation between the price and the ability of miners to verify blocks of transactions check your Twitter accounts the Bitcoin Twitter handle which has long been a shill for Bitcoin cash has seemingly switched alliances overnight the account which had around a million followers had previously allegedly been under the control of Roger ver a rabid Bitcoin cache proponent however this week the account changed his description to link to pro Bitcoin website Bitcoin org instead of there's Bitcoin comm and started to publicly unfollow people how does an account publicly unfollow people it's a good question the user records the screen as he or she scrolls through the following list clicks unfollow on Justin Sun and labels the whole thing a misspelled ginormous announcement as of recording time the account now follows only nine people Bitcoin cash supporters on reddit have lost their collective minds the various response to their cries for help in turning the account back to Bitcoin cash was Donna like coins Charlie Lee had what I consider to be the best response to this odd debacle I have no proof of this but I think the owner of at Bitcoin must have had a romantic relationship with Roger ver and recently broke up with Roger that's the only thing that can explain why at Bitcoin stopped supporting the ch it's also worth mentioning that Roger bear in Bitcoin casts have seen better days while Bitcoin has been resurging in the past few months Bitcoin cash is currently trading close to its all-time lows in Bitcoin terms as well there's apparently left his position as CEO of Bitcoin cash supporting Bitcoin calm now as I'm sure you've noticed Facebook's Libra project is everywhere but it doesn't exist yet however there are already a slew of competitors that are coming out of the woodwork Somali genie who wants to compete with Libra well there have been a lot of contenders I would argue that the most important is the People's Bank of China because they've been working on their central vac digital currency for a few years now but apparently they have now been inspired by the Libra project and are in a sense rushing to complete their currency before libras released another important one Jackson I think is by Nance's Venus which was also announced this week and they say that they're gonna do Libra better than libre des Libra so we'll see how that works out I think that maybe Libra and Facebook have more name recognition than finance but that's just my opinion true and what about the vinca lostwinds the Winklevoss twins gemini have said they're in talks with the Libra Association to join but because the Libra Association isn't actually releasing right now any of the people there and talks with Jackson like we don't really know what's gonna happen with that so do you think that finances Venus actually has the capability to compete with Libra once both of them are obviously release I think it has a good chance just in the sense that finance has good name recognition within the crypto community and the success of their finance coin this year has shown that they are able to keep things afloat even when all the other cryptocurrencies are crashing and they have financed change so I think that we should keep an eye on on what finances jam with Venus do you think there is a current trend where people are using the Liebherr name and this sort of like Libra rival competing with Libra in order to actually market their own products I definitely think so there this week Erik fin Minh who is bitcoins reportedly youngest millionaire said that his new project is going to be a Libra killer so this has been cryptocurrency news i'm molly jane and this is jackson before we leave we wanted to ask you guys do you think there are any projects out there that are real competitors to Libra comment below your thoughts and as always remember to Like subscribe and Hahnel coin Telegraaf like subscribe and huddle [Music]

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