iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,408 Blog Posts

RBC Analyst: ‘We’re Rebuilding the Internet’; Crypto Currency Market Going to $10 Trillion

Before bashing this man for his insane projection for the crypto world, understand the dynamics behind the blockchain and its disruptive aspects. It’s entirely possible that all of the cynics will be proven wrong. That’s not to say there isn’t a stark pullback just beyond the bend, but at $750 billion and growing daily, I think we should at least pay attention to people who study the blockchain and get paid for making balls to the wall calls.

Here’s Mitch Stevens from RBC talking shit about cloud storage companies like Dropbox, suggesting they’ll get fuck hard with the proliferation of the blockchain. Stevens predicts the chain could rise in value, over the next decade or so, to over $10 trillion.

Plainly, he calls it Web 3.0 and considers this an entire rebuild of the internet as we know it.

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27 comments

  1. mushroomz

    what kind of valuation do you put on the cockchain?

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  2. ferd

    One of these cryptos will be co-opted and anointed the “new dollar” and will be the tool used by the powers that be to reset the system.

    Discuss.

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    • mushroomz

      Like if the FED declared that DOGEcoin is replacing the US dollar?

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    • sarcrilege

      There’s nothing to discuss. The entire crypto space will be co-opted. it’s already happening…embrace, extend, extinguish. The valuation of the crypto space is in ex nihilo fiat, not ounces. And this is how it will play out: The central banks will inflate cryptos into trillions with their confetti and sucking most gullibles into it. And then they will trap everybody in crypto space via DOS attack (or similar) on all exchanges so there is no exit door. And then they will crash the crypto space and impoverishing everybody who was stupid enough to buy into it. Solution:
      The hofjuden will come to the rescue with their own, official, crypto, i.e. Phoenix, and will offer to convert all and any crypto tokens at predetermined rate and volume. Voilà. NWO currency just was born from the ashes of destruction. Dialectical process – thesis antithesis synthesis. Done.

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      • ferd

        Very good. Of course they have to go beyond just converting cryptos to the official crypto, they have to convert government dollar obligations-to-the-many more generally.

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        • sarcrilege

          …plus, in order to convert shit coins into Phoenix, the NWO currency, full ID, DNA and biometrics will be provided/taken and subjects will be chipped for being stupid to give up funny USD confetti for tokens. The smart ones, holders of au/ag, will be exempt.

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  3. mushroomz

    Cue Hans Zimmer soundtrack as Tron busts through 15 billion market cap and barreling towards 20 billion.

    BRRRRAAMMMRMRM!!!!!!

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  4. gappingandyapping
    gappingandyapping

    This man literally is fucking insane. He is technicalogically inept to make these statements.

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  5. Dranged

    I’m a long term investor in $BOX. Let’s assume this guy is spot on, I’m trying to determine if this is a potential death blow for $BOX, or if it’s possibly the biggest opportunity of all time.

    One thing needs to be stated: $BOX is not a cloud storage company. Yes they offer cloud storage, but they are more accurately an Enterprise Content Management company. Even if this guy is right about blockchain, Enterprises will need Content Management software to manage that shit, determine policy, compliance and governance.

    Anyone familiar enough with both BOX and blockchain to comment?

    One thing is for sure, in the current environment, if $BOX announces that that you can now use Box Platform to secure your files decentralized via blockchain, $BOX will be shooting past the moon and landing on the sun. However, it’s the longer term that I am concerned with.

    Thank you.

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  6. rigged game

    Why is this Ibankcoin web site being rendered almost totally useless by ads
    that one cannot escape from as he tries to access the site content?

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  7. bob smith

    Why stop at only $10 trillion? Why not quadruple quad gazillion? Because the sheeple would see through the absurdity of that.

    This guy, like all alt-coin proponents, is simply talking his book. He will lose it all just like the tulip salesmen did back in the day…

    Wise up people. You are buying 0’s and 1’s that have NO intrinsic value. Ride the train until it crashes? Be my guest… but it’s still 0’s and 1’s and it still crashes to zero. Crypto fanatics are not buying blockchain, they are buying fantasy.

    Do you really thing a bunch of uneducated, trading-in-their-underwear-in-their-mom’s-basement knuckleheads are going to coopt the banking cartel and create a “new world of finance?”

    Do you really? Put your pants back on and start acting like an adult!

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  8. moonshot

    Revolution is coming. As money moves online, cyberwarfare will explode. Tribes are forming around specific cryptocurrencies, forming communities with shared values. Government control over the economic system is weakening. It is going to be a brave new world.

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    • moonshot

      I am working right now on a cryptocurrency. The coin has already gone more than 10x from where I found it, and we are hardly out of the starting gates.

      Even if this one failed, which I don’t think it will, the skills and knowledge I have gained will be incredibly valuable. Truly a win win situation (extra Trump).

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      • sarcrilege

        moonshine coin?

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        • moonshot

          I did not create the coin. Although I’m rapidly approaching the level of technical knowledge that I could create one. And I’m not talking about one of the fake ERC20 tokens that is just another rebranded token running on the Ethereum blockchain, which anyone could create with almost no technical knowledge.

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          • sarcrilege

            …and they already do that! What are we now up to… 1500 different tokens and counting? Talking about dilution, eh?

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  9. dlt dude

    I’ve tried to find real business use for cryptocurrencies for a couple of years, with no success.

    Part 1 – Cryptocurrencies as payment instruments

    So far it looks like every single blockchain use case that needs cash as a settlement instrument can be implemented using fiat currencies and existing banking systems. The trick is to use the open payment APIs that some banks are already providing and that will in the near future be mandated by the authorities for all banks to support. The PSD2 directive in Europe is one such mechanism. Whenever you need to use cash to settle a transaction in the distributed ledger, you simply make a smart contract that gets the cash from the bank’s payment system when the conditions for the debit are met. The technical implementation of such mechanism is trivial. It is quite ironic, that the regulators, who forced banks to provide open APIs to their payment systems, have enabled the innovation, that will kill the cryptocurrencies as a payment instrument.

    Conclusion 1: Cryptocurrency as a payment mechanism is a solution without a problem and hence their value is very close to zero. Only those transactions, that need to remain anonymous, need cryptocurrencies. Most of those transactions are illegal.

    Part 2 – Cryptocurrencies as a store of value

    The other proposed use for cryptocurrencies is “store of value”, i.e. “digital gold”. The problem with this is that there are over 1500 cryptocurrencies out there. Which one of them is the proper store of value and why? Bitcoin is technically one of the worst ones out there. Why would it be the one and only store of value?

    Conclusion 2: Considering cryptocurrencies as “digital gold” is logically insane as new currencies may be created without any limit. Hence their “store of value” function is in the long run very limited, practically close to zero.

    Part 3 – Cryptocurrencies as the fuel of a blockchain development & execution platform

    For Ethereum fans, my advice is to investigate the nature of its scalability and privacy issues. It seems to be theoretically impossible to address either of those issues. There have been vague promises to provide fixes, but so far, no real solutions. The core data management layer of Ethereum is designed to be practically non-scalable.

    Conclusion 3: Public Ethereum is never going to be used in any valuable business use, for performance reasons alone. Hence the real value of Ether is very close to zero.

    Trade accordingly. Eventually the majority will find out these three true reasons, why cryptocurrencies are the new digital tulips. Digital currencies in general seem almost useless and blockchain technologies such as Ethereum or even Hyperledger Fabric require a major re-design to become commercially usable.

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    • sarcrilege

      Would you just stop confusing everybody here with succinct and dream crushing facts? There’s bunch of bedroom billionaires on here who already planned their retirement on the moon.

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      • landlord

        What would you rather be? A bedroom billionaire who probably has 100 million+ in overnight liquidity or a snarky guy on a financial blog criticizing a bedroom billionaire for taking a risk that paid off and changed his life?

        If you had the guts/foresight/dumb luck to catch this crypto moonshot good for you! As an entrepreneur myself I value that sort of measured risk taking attitude.

        The question becomes what now? It seems like the horse has left the barn on BTC and it’s stuck in a range with a lot of downside and the Alt-Coins look like momentum trading lottery tickets with little liquidity into real US dollars, Euro, etc.

        Where are the next moonshots that have a 10% chance of becoming a 100x return? Do they even exist?

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        • sarcrilege

          phyzz au/ag is the next bubble. Watch what russia, iran and china are into…

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    • duuude

      Well said dlt.

      We are seeing Musical Coins…

      https://www.youtube.com/watch?v=98AJUj-qxHI

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  10. francis

    What this eguy is saying is interesting. People gotta make the difference between the cryptocurrencies and the blockchain which is the technology behind it. I read an interesting book call cryptoassets for the one interested to know more about the subject.

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