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Bitcoin to Form New Economic Class: Adamant Research Report

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  • Alex Dovbnya
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    Bitcoin is creating a new economic class of people that are not dependent on traditional financial institutions, according to Tuur Demeester

Bitcoin to Form New Economic Class: Adamant Research Report
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Analytical firm Adamant Research, which is helmed by long-time cryptocurrency investor Tuur Demeester, has just released a new study entitled "Bitcoin Reformation" that draws parallels between Bitcoin and the Reformation period. 

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One of the highlights of the 18-page research paper is the part about how Bitcoin is forming a new economic class similar to that of Reformation-era merchants that upended papal authority in Western Europe.

The paper states that the technological revolution that took over Europe in the 16th century was the driving force behind rapid changes. Particularly, the printing press enabled the mass production of books, thus increasing international trade. Demeester compares it to the proliferation of computation, data storage, and cryptography in the current era. 

Eventually, due to the acceleration of trade and tech progress, a new class of merchants emerged and took away a big chunk of wealth from landlords and churches. Having lived through the horrors of the 2008 financial crisis, the millennial generation now turns to tech instead of banks. Demeester cites a Facebook study, which claims that only eight percent of millennials trust traditional financial institutions. 

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Moreover, according to multiple surveys covered by U.Today, millennials tend to be the most Bitcoin-friendly demo. Considering that this generation is projected to control the largest share of disposable income in ten years, it could end up at the forefront of the growing crypto economy. 

Hence, Bitcoin could lead to one of the biggest transfers of wealth in human history. The Bitcoin white paper, which recently turned 11, was published by Satoshi Nakamoto on Reformation Day.

The fact that these two events conveniently co-exist on the calendar side to side is not just a coincidence.      

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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VeChain (VET) Price Likely to Rise to $0.0085 ‘If We Hold’, Crypto Analyst Says

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  • Yuri Molchan
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    Recently, the VET price saw a 20 percent surge on the news from China about a major utility case for this blockchain, now an analyst says the coin may keep rising

VeChain (VET) Price Likely to Rise to $0.0085 ‘If We Hold’, Crypto Analyst Says
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Currently, VeChain is one of the most promising altcoins on the market, as many believe. It has a large and loyal community that is eager for the price to skyrocket.

A crypto analyst @CryptoMichNL calls VET one of the strongest coins and says it has a chance to spike in price referring to a chart.

‘If we hold, another move to 103-105 is likely’

The trading expert @CryptoMichNL points out to a retracement of the VET price on the chart. However, still calls VET one of the strongest coins.

Seems like, the second area of interest – 61-63 Satoshis ($0.0051) has already been passed.

VET price CMC
Image via CoinMarketCap

As per the analyst, the next price move is likely to happen to the 103-105 Satoshis area ($0.0085) ‘if we hold’.

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The recent VET price surge

About a week ago, CoinMarketCap recorded a 21-percent price surge on VeChain’s VET. Presumably, this was due to the recent big news that had come from China.

VeChain reported that it had partnered with ASI Group and DNV GL in order to start utilizing its DLT platform in the industry of food and beverage trade. The companies are planning to release a new logistics blockchain-based system dubbed Foodgates.

The media has called this the first blockchain-powered project in logistics made on a massive scale.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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