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Bitcoin Predictions Going Into 2019

Daniel Chase

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Nearly a decade has passed since Nakamoto released the fabled white paper describing the primordial framework of a peer-to-peer currency network. At the time, an anonymous cryptographer, with the pseudonym of Satoshi Nakamoto, was furious with the fact that consumers were slowly being falling prey to the inefficacies of banks and other financial institutions. Nakamoto wrote that “commerce on the internet [had] come to rely almost exclusively on financial institutions as trusted third parties to process electronic payments,” and this nurtured dependence would ultimately lead to a fiscal downturn. With a P2P currency network that kept records of every transaction, banks were no longer needed and the era of decentralized currency was on the rise. 

Several years ago, it was reported that of the 21 million bitcoins in existence, approximately 17 million had already been mined, indicating that given its limited supply, it had boundless monetary value. Bitcoin’s (BTC) initial coin offering (ICO) was valued at less than $1000 per coin, and in a few short months, it was trading at almost $20,000 per coin, according to CoinDesk. 

However, as we have seen, Bitcoin’s (BTC) value had continued to depreciate from being tased at $19,783.06 per coin in December 2017, to $6,284.84 as of Tuesday. In countries like the US and Israel, both blockchain industry hubs in their own right, banks have denied their account holders access to their accounts when they’ve tried to deposit liquidated funds from crypto transactions, resulting in one of the many reasons why cryptocurrencies have been on a steady decline. 

 While many analysts in the crypto space believe this non-action, like Jordan Belfort in the one scene of “Wolf of Wall Street,” is not bleeping leaving, others are insistent that Bitcoin (BTC) and its rag-tag team of various cryptocurrencies are about to hit 88mph and show us some serious stuff. 

After suffering a seemingly endless period of time spent in a bear market, perhaps it is time for Bitcoin to give investors a break. Recently, Bitcoin’s (BTC) volatility has slowed down to a crawl. In a post on Seeking Alpha, Victor Dergunov, founder of Albright Investment Group, explains that “despite the tame atmosphere surrounding Bitcoin, for the time being, this is predominantly likely just the calm before the storm, a storm that is likely to lift Bitcoin (BTC) prices substantially higher over the next several years.” 

Dergunov presents an interesting point. This isn’t the first time Bitcoin (BTC) volatility has been relatively uninteresting, most likely due to the nature of Bitcoin (BTC) bear markets. He continues to suggest that the current “quiet period” for Bitcoin (BTC), replete with dwindling interests from investors, less prevalence of crypto in the news, and a general discontent with cryptocurrencies, should be treated as an indicator of the next Bitcoin (BTC) bull market. 

At the Web Summit conference held last week, VC investor Tim Draper spoke on his predictions for Bitcoin heading into the new year. Draper’s prediction suggests that the price of Bitcoin (BTC) will reach $250,000 per coin by April 2019. 

“Yes. We are talking […] about five percent market share to get to $250,000. That seems like a drop in a bucket and what we all need to really do is make it so that Bitcoin can be used to buy Starbucks coffee, and all of a sudden the world just opens up and then they say “I’ve got this choice. Do I want a currency that I can take from country to country or do I want one that sticks me in one country or one geographic area and I can’t use it anywhere else..” 

  • Tim Draper, Venture Capital Investor, Draper Fisher Jurvetson

Draper’s prediction for Bitcoin (BTC) 2019 may be a bit of a stretch, he premonitions are thought-provoking for sure. In order for Bitcoin (BTC) and other cryptocurrencies to thrive in the market, industry leaders across all sectors will need to take cryptos more seriously. The potential that decentralized currency presents in astounding, but its efficacy will remain stagnant until cryptocurrency can be used as an acceptable form of payment in coffee shops, restaurants, and car dealerships. 

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Nike Doesn’t Need Roads

Daniel Chase

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A long time ago, in a Pacific-Northwestern state far far away, a man named Bill Bowerman preached the gospel of the original running shoe. “A shoe must be three things,” he proclaimed. “It must be light, comfortable and it’s got to go the distance.” In the late 1950s, Bowerman was displeased with the current track shoe market. Shoes were made of heavy leather, metal, and were anything but soft and comfortable. As a track coach for the University of Oregon, revered both then and now as an elite running school, Bowerman was obsessed with helping his runners slash seconds of their times. He would dismember track shoes in his garage, and experiment with different animal skins to determine which material made the fastest shoe for his athletes. 

One of the first student-athletes to try a Bowerman original was Phil Knight, the eventual founder of Nike (NKE). As to why Bowerman chose him, Knight admitted that “he wasn’t one of the best runners on the team. Bowerman knew he could use me as a guinea pig without much risk.” Bowerman made every shoe to the exact dimensions of a runner’s foot, measuring widths and noting individualities, such as extended heel or slim ankle. As for raw materials, nothing was out of the question. Bowerman used kangaroo leather, velvet, deer hide, snakeskin, and even fish skin, in pursuit of the perfect track sneaker.

“Most American shoemakers are not interested in what we track coaches think about track shoes. The best shoes…at this time are made by the Germans. Their sole material is not too good and I can either replace their sole or I can make my own shoe. I don’t think there is any question, certainly, in my own mind there is not, that I now have the best shoe in the world — if I could just find some good American shoemaker to make it.”

-Bill Bowerman Co-founder Nike 1960

Bowerman would eventually find a good American shoemaker, or better yet, he would become the shoemaker he sought out. Partnering up with his former student-athlete, Phil Knight, the two running enthusiasts would eventually start Blue Ribbon Sports and years down the line, Nike (NKE). 

Nearly six decades have gone and went since Bowerman pioneered the first pair of Nike (NKE) running shoes, and since then Nike (NKE) has achieved preeminent success as the be-all, end-all sports brand for athletes, no matter what they play. While shoes designed for athletic performance have been tweaked and reworked for years now, we have yet to see a major alteration in how shoes are tightened, i..e advancements in lace technology. Leave it to Nike (NKE) to, once again, lead the way, running head first into the future. 

Earlier this month, Nike (NKE) released the new Adapt BB, a play on the HyperAdapt 1.0, which is itself a real-life attempt on the self-lacing sneakers from Back To The Future II, only this time, no Delorean or wild-eyed scientist could have prepared any of us for this sneaker. Nike managed to create a shoe with power laces controlled via a companion smartphone app. 

Matthew Panzarino, a staff writer for TechCrunch, brought up an interesting point when speaking to the possible use cases for app-controlled sneakers. He talked about how basketball players sometimes need coaches to tie their shoes before a game, and after hours of the same level of tightness, with no relief even on the sidelines, this can restrict blood flow and cause injury. 

“Consider basketball: Over the course of a basketball game, the foot can expand almost a half-size during play. A level of fit that feels comfortable at one point might feel constrictive just 24 minutes later. Because the needs of the foot change at any given time based  on the sport, its duration and on specific movements, like a slashing cut to the basket, “perfect fit” is a floating target.”

Nike on “Adapt BB” basketball shoe 

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Trump Unfazed By Buzzfeed Report

Daniel Chase

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Ever since I was a child, my mother always taught me to remember that the worst truth was better than the best lie. She’d whip out this adage anytime she had some inclination that what I had recently told her wasn’t the whole truth, nothing but the truth, but in fact, a bald-faced lie. I recall one evening where I was heading to the house of a friend who lived a considerable distance away. 

At that point in my driving career, I hadn’t learned how to operate a vehicle on a highway, so my mother made me promise I would take side streets. Unbeknownst to her, the highway shaved off about twenty minutes of the drive, so naturally, I winged it and made it safely to my friend’s place. I held onto that lie for several weeks until she found out and made me take the bus for the rest of high school. I bring up this story not to bore you, but to demonstrate that all liars must come to terms with their deceit one way or another and that it could’ve been much simpler to just come clean and get it over with. 

A bombshell report released by Buzzfeed News late yesterday evening claims that President Donald Trump personally directed his former lawyer Michael Cohen “to lie to Congress about negotiations to build a Trump Tower in Moscow, according to two federal law enforcement officials involved in an investigation of the matter.” To those of you who have just about had it with media coverage surrounding our President, imagine how the millions of Americans who voted him into office must feel after hearing about this news. 

Over the last two years of the Trump presidency, much has been brought up regarding his behavior as commander-in-chief, with phrases like “obstruction of justice” and “impeachment” coming out of the mouths of Democrats and several disgruntled Republicans. The new report from Buzzfeed alleges that Trump not only “directed” and “personally instructed” Cohen to lie to Congress, but that the goal of these mistruths was “to obscure Trump’s involvement” in the Trump Tower Moscow venture. 

Since the release of the report, Democratic leaders have been screaming “obstruction of justice” so loud that even the people in the cheap seats are irritated with the high-decibel blathering. 

My opinion, which I can guess might be largely unpopular, is that Americans and left-leaning politicians have had qualms with Trump since he was inaugurated, and in that time, headlines have emerged detailing immoral platitudes made by the President via his official presidential twitter, as well as a need for a federal investigation into whether he colluded with foreign powers to secure the Presidential seat. If the Democratic leadership wanted to introduce articles of impeachment, what’s been the hold up from doing so?

I believe that Trump may be unimpeachable at this point, that is unless the Buzzfeed News report ends up being true and he did direct Michael Cohen to lie under oath in front of the United States Congress. 

Back in June, about a month before special counsel Robert Mueller’s investigation started heating up, President Trump fired Michael Cohen after his residences and homes were raided by the FBI. Lying awake in anguish every night, Cohen couldn’t stomach his relationship with Trump and eventually decided to cooperate with Mueller. Michael Cohen was sentenced to 36 months in jail for nine counts of felony charges, including being charged with scheming to help secure the Trump presidency.

“I have been living in personal and mental incarceration ever since the day that I accepted the offer to work for a real estate mogul whose business acumen I deeply admired. Today is one of the most meaningful days of my life. The irony is that today I get my freedom back.”

-Michael Cohen

Following his sentencing, Cohen sang like a canary, to anyone that would listen, about the suspicious activities he partook in whilst serving as Trump’s legal counsel. Cohen admitted that he and several Trump aides continued negotiations with Russian entities about the Trump tower project in Moscow well into the 2016 presidential campaign. He blamed “his blind loyalty to this man [Trump] which led him “to take a path of darkness instead of light.” 

As for the fate of our forty-fifth president, we’ll just have to wait and see if Buzzfeed’s report will substantiate a major move by the Democratic leadership, or perhaps their lackadaisical nature will buy Trump a couple more months to come up with a backup plan. 

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Google Pixel Watch May Be Closer Than We Think

Daniel Chase

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It may surprise you that I am incredibly concerned about the fate of human existence in congruence with modern technology. I firmly believe that with every day that goes by, we are becoming far more dependent on devices than any of us would like to admit, except for me. I fully understand the glitz and glamor dazzling friends with the newest Apple (AAPL) product or some other shiny, high-functioning device, but doesn’t it bother you that devices are becoming more connected to our bodies, both technically speaking as well as literally, in terms of their designs. 

A decade ago, almost nobody could’ve anticipated that millions of people would buy a watch that tells time, but also gives you access to your own internal vital signs. Whereas televisions were invented with remote control, giving users a comforting distance between themselves and the screen, we are slowly innovating towards closing the gap between our physical proximity with our devices. One such category of devices referred to as “wearables” by those of us privy to tech jargon, is a collection of pieces of tech driving someone like me up the wall with anxiety. We decided some years ago, after the release of the Apple Watch (AAPL), that wearing technology was somehow a brilliant idea. 

In the years following the introduction of wearable devices, companies across the tech industry have championed products designed to allow consumers to track their heart rate, send text messages, and even navigate around whatever city they may find themselves in. One such company, Google (GOOGL) has yet to enter the wearable space, but rumors about a Pixel Watch have whispered in the wind for quite some time now. Today, the world’s search engine turned rumors into facts as it announced plans to purchase smartwatch technology from Fossil Group (FOSL) for $40 million. As part of the transaction, per the official press release, a portion of Fossil Group’s (FOSL) research and development team currently supporting the transferring IP will join Google (GOOGL). 

“Fossil Group has experienced significant success in its wearable business by focusing on product design and development informed by our strong understanding of consumers’ needs and style preferences. We’ve built and advanced a technology that has the potential to improve upon our existing platform of smartwatches. Together with Google, our innovation partner, we’ll continue to unlock growth in wearables.”

Greg McKelvey, Executive Vice President and Chief Strategy and Digital Officer, Fossil Group 

Though the smartwatch sub-sect of the tech consumer marketplace has been dominated by Apple (AAPL), Fitbit (FIT), and Samsung, it makes sense that Google (GOOGL) would have an interest in getting a piece of the action. Stacey Burr, VP of Wear OS, Google’s (GOOGL) wearable technology division, lauded the Fossil collaboration announcement, expressing that “the addition of Fossil Group’s technology and team” would allow Google (GOOGL) to develop a beautifully designed portfolio of smartwatches, while continuing to support the “ever-evolving needs of the vitality-seeking, on-the-go consumer.” 

It’s worth noting that Google’s (GOOGL) $40 million deal is for technology that has yet to hit the market. Fossil Group’s (FOSL) research and development team have been working tirelessly to create a new product innovation relating to smartwatch technology, but it been kept under wraps for the most part. Burr told Wareable that Google (GOOGL) saw the technology being worked on by Fossil R&D and believed that it “could be brought out in a more expansive way if Google (GOOGL) had that technology, and was not only able to continue to use it with Fossil but bring it to other partners in the ecosystem.” 

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