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CEO Everipedia Shares His Views About Bitcoin

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Everipedia is one of the blockchain-based projects that aims at revamping the world of online encyclopedia through the employment of the revolutionary blockchain technology. BlockPublisher recently got in touch with Chief Executive Officer of the platform, Theodor Forselius, as he explained the project in detail (the link to which can be found here) and shared his thoughts regarding blockchain tech and bitcoin overall.

Since bitcoin presents forward one of the first use-cases of blockchain technology, it is only natural to think about where it is headed in the future. In reply to the question regarding whether bitcoin will become a global digital currency or will it become the next gold, Theodor shared his personal opinions saying:

Theodor: “I definitely think bitcoin is here to stay, just because it was like the first coin and it’s definitely going stay in the future but I’m not really sure if it’s going to be used as a store a value or as like an actual like currency, it’s very hard to tell.

Obviously now the price has stabilized a bit and now people in the space are arguing that this is the way it’s supposed to be, it’s supposed to be stable so that you can use it as a currency. And then when it goes up everyone is like oh it’s actually like a store of value, it’s supposed to be like seen as a virtual gold. So I’m not sure. But I I do think the price of bitcoin will go up as blockchain becomes more mainstream and continues to grow in a more organic matter than it has until now. ”

Bitcoin is the leading cryptocurrency in the world right now in terms of market capitalization and its price does seem to have a significant effect on the entire market. 2018 did not turn out to be a good year for the asset. Moving into 2019, there are some major developments lying ahead that might help the asset grow and mature. Demands for regulatory frameworks are growing stronger and if regulations come in this space, they might help curb out the negative and illegal aspects that are largely linked with the digital asset.

Eyes are also focused on the decision that is going to be made by the United States Securities and Exchange Commission (SEC) regarding the approval of a bitcoin exchange-traded fund (ETF). This might help the asset get more acceptance from the institutions. Platforms like Bakkt are also trying to make their place in this space. All of these will help this nascent market get more developed and mature. It will be interesting to see how things turn out and if bitcoin is able to outgrow itself from its negative and illegal usage. While some say bitcoin will die out soon, as per Theodor and many others in the crypto game, bitcoin is here to stay.

Source.blockpublisher

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KuCoin CEO on Cryptopia hack: “KuCoin will freeze any funds from Cryptopia”

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Following the hack earlier this week of New Zealand crypto exchange which saw roughly $13 million stolen from the exchange, KuCoin CEO has announced that their exchange will ensure they stop any hacked funds from Cryptopia from being sold on their exchange.

KuCoin CEO Michael Gan announced in a twitter post that KuCoin will ensure that all funds sent from Cryptopia will be halted. The CEO stated “For anyone who cares about the Cryptopia hack, KuCoin will freeze any funds from Cryptopia. Please rest assured.”

The news will come as a relief to some users as well as Cryptopia, as the hackers have tried sending funds to Binance already. Binance were alerted about the movement of hacked funds and the exchange, along with founder Changpeng Zhao were quick to freeze the funds.

Recap: Binance freezes stolen Cryptopia funds after Twitter warning

CZ announced yesterday that they were also able to freeze some of the funds, and would continue to do so especially with the community updating Binance so quickly.

Little more is known about the Cryptopia hack or what the total damage is so far, what is known is that most ERC-20 tokens as well as Ethereum were taken, all estimated at roughly $13 million so far.

Source. chepicap

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Winklevoss Twins Believe the SEC is Waiting for More Market Surveillance and Protections

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According to Cameron and Tyler Winklevoss, the popular twins in the cryptocurrency world and founders of the Gemini exchange, the U.S. Securities and Exchange Commission is searching for more market surveillance and protections.

During an interview with Fortune Ledger, they talked about the SEC and the different concerns it has about the crypto market. Furthermore, they talked about the Bitcoin ETF and cryptocurrencies.

Back in July 2018, the SEC rejected the approval of a proposed rule change that was made by the Winklevoss brothers. According to the regulatory agency of the United States, there were some issues related to market manipulation and the lack of market surveillance. In this way, the SEC rejected two different Bitcoin ETF proposals made by the twins.

Nevertheless, SEC’s commissioner Hester Peirce, which is a supporter of virtual currencies, commented negatively about the decision taken by the regulatory agency. She mentioned that the proposed rule change had all the pre-requisites for the approval of this specific rule change.

After this, Gemini decided to partner with Nasdaq and have their market surveillance services at the exchange.

Although in February the SEC has to take a final decision regarding the ETF proposal presented by VanEck and SolidX, Cameron believes that is hard to predict when the approval will happen. He mentioned that they have been working for six years to have a Bitcoin ETF approved and that they will continue working in the future for it to happen.

Cameron commented about it:

“We understand the commission’s concerns. We’ve heard them loud and clear and they are basically calling for more market surveillance and protections in the marketplace to avoid, prevent against manipulative behaviour and stuff like that. So, Gemini has built a market surveillance team.”

Additionally, he went on saying that their crypto exchange is working on the Virtual Commodity Association, a self-regulatory organization in the United States related to the crypto world. The intention is to have similar standards in the industry and build integrity in the market.

Cameron explained that they understand the decision taken by the SEC since these will be the first products related to cryptocurrencies. It is very important for companies to work in order to help this process and be compliant with all the requirements needed.

The Winklevoss brothers have also a different perspective regarding regulations in the cryptocurrency world. They believe that with regulations it is possible to open new accounts and start new companies in the space.

In general, the BitLicense given by regulators in New York seems to be very difficult to be acquired. There are several enthusiasts and crypto experts that have criticized this decision to impose these regulations in the space.

However, Cameron and Tyler Winklevoss believe that regulation has been a big win for New York State. Additionally, they’ve mentioned that Gemini is trying to take the best protection measures and bring them into the crypto industry.

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Kraken CEO advises traders to move coins off exchanges after Cryptopia hack

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Kraken CEO Jesse Powell has tweeted following the recent hack on New Zealand based cryptocurrency exchange Cryptopia, stating that traders should move their coins off exchanges, including Kraken and look to store their coins on hardware wallets rather. 

The tweet came after Binance CEO Changpeng Zhao tweeted about the hack stating that complete opposite. CZ tweeted that it would be safer storing your coins with “the most reputable, proven secure, exchanges” rather than storing them on cold storage.

The tweet was met with criticism from many on twitter, who believe the motto ‘not your keys, not your coins’. The motto simply refers to the fact that if an exchange holds the private keys to access your coins, then they do not in fact belong to you in the first place. This makes them more susceptible to hackers.

The backlash to CZ’s tweet included Kraken CEO who echoed the sentiment of Pierre Rochard, who commented on the tweet from CZ stating “More individual exchange accounts have been hacked than individual wallets. Disappointing but not surprising to see “industry leaders” spread bad info.”

Exchange hacks don’t appear to be slowing down with the Cryptopia hack occurring just two weeks in to the new year.

Source. chepicap

 

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