Dominik Schiener, co-founder of IOTA, today announced his predictions for altcoins, SHIB and DOGE. Schiener also made statements about the beta version of IOTA Smart Contracts. He answered questions about this release and many other important topics. So don’t miss the following article…
Rimma Trukhina SHIB raises questions about NFTs and Bitcoin
Rimma Trukhina poses the questions in her interview with Dominik Schiener. Crypto media editor’s first question:
Which clients do you have in your crypto portfolio?
Dominik Schiener gave the following answer to this question:
One hundred percent IOTA. I’m not sure if it’s healthy but as one of the founders I have to be some kind of maximalist.
Second question: No Bitcoins?
Stating that his portfolio consists of 100% IOTA, Schiener answered why he did not hold Bitcoin:
No, I only have IOTAs. Basically I have some Ethereum for experimentation. To try DeFi apps. Basically, I only hold IOTA. But I usually advise people to sort through and have a basket of altcoins to try something out.
Dominik Schiener told crypto investors to have a wider altcoin basket, while moderator Trukhina posed the question, “But you are not following your own advice”. Schiener’s answer was quite clear:
To do the best job possible, I need to invest emotionally and financially in IOTA, right?
What do you think about tokens like SHIB and Dogecoin and their excitement?
After IOTA and Bitcoin (BTC), the next question was about meme coins SHIB and Dogecoin. Schiener’s statements were:
The year is 2021 and we have to be very open minded about this whole market because otherwise we will never be able to grasp the current narratives of the market. I think Dogecoin and Shiba Inu (SHIB) are part of a narrative, “Hey, this is a cryptocurrency for people!” It doesn’t make any objective sense. It will not be accepted in the real world. But I think Dogecoin has captured the spirit of this time at a time when everyone was saying, “Hey, let’s rally behind a project and see how far we can go.” Because together we can be rich. “This is why Dogecoin has managed to attract some billionaires who are bored or have different incentives – not to make money, but just to have fun.
The co-founder of IOTA continued with:
I think these meme coins are actually pretty interesting because they’ve also helped define the bullshit of the crypto market. I wouldn’t dismiss it as something totally stupid. I would simply describe it as a narrative about a market at a time of price discovery. No one knows the value of these meme coins, and no one knows the value of some cryptocurrencies in general. Although we have billions of dollars in transaction volume, we are still at a very early stage in the market. Meme coins are part of this early stage of crypto. I’m not sure if it’s worth it in the long run. Maybe someone will build something with these technologies. I think at the end of the day, any cryptocurrency can have value as long as it has real benefits. If Dogecoin is used to support a stablecoin or to create new smart contract innovations, it will have value in the future. It’s always about narrative and what people believe.
Stating that it was one of the biggest organizations of the period for SHIB and DOGE, Schiener thinks that meme coins can be used more efficiently and in wider areas by building the necessary infrastructure.
The next question posed to Schiener was Bitcoin price prediction…
I ask everyone this last question: What do you think the price of Bitcoin will be a year from now?
Dominik Schiener for Bitcoin price…
The only thing I always speculate about is the Bitcoin price – I’m not speculating about the IOTA price, haha. I firmly believe that Bitcoin will rise above $100,000 this year. I always try to ask myself: What is the alternative to this system we are building? What is the alternative to cryptocurrencies? What is the alternative to DeFi? Obviously, there is no alternative and adoption is only increasing for the entire crypto market. As we continue to innovate, we will go much further today than most of us can imagine. Bitcoin is crucial to guiding us in this way because it is the most tradable, most traded cryptocurrency in existence today. I definitely think Bitcoin will go above $100,000. As for what the future will hold for Bitcoin, I don’t know. I just know that the whole crypto market is going very well, much, much higher than we can all imagine. I’m really moving towards that. This is what we want to enable: so others can build these innovations on IOTA and other networks.
Dominik Schiener also believes that Bitcoin can reach $100,000. The next question from the IOTA founder was about NFTs…
What about NFTs? They are in trend right now. As far as I know IOTA has its own NFT market. What can you say about its development? How many products were sold and how many exhibitors participated?
Dominik Schiener replied:
The NFT market was initially more of a demo showcase. A few thousand were sold by the community. What we are currently preparing is a greater entry into the NFT market, again thanks to smart contracts. Smart contracts are required for NFTs. Now, with this beta version, we can actually play in that market. What we offer for NFTs is the concept of local assets. Our NFTs on our network are basically as secure, scalable and insensitive as the IOTA token. Naturally, they can sit as zero in this layer in the IOTA ledger. They are involved in smart contract on Ethereum or Polkadot or other networks. There are always some friction points in these other networks. Our focus is on making NFTs like first-class citizens, so to speak, sitting on the base layer and transferable quickly and without transaction fees.