RE: What’s The Latest?
The thread about the Bitcoin and crypto news sites got me thinking and I thought I’d post this for anyone who has any interesting new Bitcoin related news stories they’d like to post.
Here’s one on the latest progress with the Lightning Network
BITCOIN LIGHTNING NETWORK CAPACITY QUADRUPLES SINCE NOVEMBER
“Last month alone saw the network top 4,000 nodes and then explode in capacity to over $2 million value of bitcoin. Though the value of bitcoin has since fallen, in terms of BTC the capacity has nevertheless continued to rise. According to data from p2sh.info, it had reached 460 BTC at press time.
The number of open channels has also continued to rise, breaking 16,500, while nodes have increased to 4300+.”
Thomas Lee bullish af – as usual – on Bitcoin:
“Bitcoin’s fair value, given the number of active wallet addresses, usage per account and factors influencing supply, is between $13,800 and $14,800, he said in a note Thursday. His explanation for the divergence include last year’s meteoric rally, a “meltdown” in the macroeconomic climate and treasury sales during initial coin offerings.
‘Fair value is significantly higher than the current price of Bitcoin,” he wrote. “In fact, working backwards, to solve for the current price of Bitcoin, this implies crypto wallets should fall to 17 million from 50 million currently.’
User adoption and Bitcoin’s acceptance as an asset class are the key factors that will drive it higher beyond 2018. If Bitcoin wallets approach just 7 percent of Visa’s 4.5 billion account holders, fair value would be $150,000 per Bitcoin according to his model, he said.
“We are tired of people asking us about target prices,” he said, declining to update his year-end forecast.”