7 Days Left for Great Bitcoin Halving: 4 Leading Experts Talk BTC Post Covid-19

Written by:
Aaron Goldstein
Published on:

Joe Lallouz, Zac Prince, Marc Bhargava, and David Gerard spoke on a post-Covid-19 world and how Bitcoin will exist within it as part of a series of Web seminars presented by Finance Magnates that took place Monday May 4.  

“The thing about the COVID-19 crisis is that it was the end of the ‘long bull run’: after the 2008 crisis, we basically had a decade where stocks just went up. That ended all of a sudden in one, big bang,” Gerard said. 

He is author of Attack of the 50-Foot Blockchain. 

“Everybody took all their money out of everything else, and put it into the ‘asset of last resort’ in a crisis, and that asset turned out to be dollars–buying up treasuries, or just getting cash.” 

He added: “the great difficulty that crypto continues to have is that there really isn’t really a crypto economy–there’s no circular flow of income; no one ‘lives their lives’ in crypto. As an investment, it’s functionally a bit of a dollar derivative.” 

[…] So, the lesson there is that everything crypto did, it did during the best possible conditions: when markets were going up, investments were all looking good…now, it’s the bad times, and crypto really has to make a case–and I’m really not seeing it make one at the moment.” 

A lucky winner at Bitcoin Games has struck a fortune by winning a huge pot and cashing out 29.65 BTC (~ $250,000). The player had newly joined the online casino and didn’t have to wait long to win the jackpot. As for the identity of the winner, that remains mysterious as the casino offers users to play and win jackpots anonymously. The gaming portal currently hosts many popular games who have massive jackpots such as Slots with 500 BTC, Keno up to 250 BTC, and Video Poker up to 203 BTC, all amounting to jackpots worth over $5 Million. 

On May 3, the research and analysis firm Glassnode reported that the overall BTC hashrate touched another all-time high above 140 exahash per second. As miners continue to hash away at the network, there are only seven days left until it happens.  

- Aaron Goldstein, Gambling911.com

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