Coinbase: Customers making money is very important to crypto-exchanges, says CEO Brian Armstrong

Proponents of the cryptocurrency market have always been at the forefront of breaking the latest updates in the universe, through live streams and direct Ask Me Anything [AMA] sessions. The latest luminary to speak up is Brian Armstrong, CEO of Coinbase, who touched upon the different streams of revenue and Coinbase’s new avenues.
Armstrong stated that Coinbase believed in a system where both the company and the customers benefited. In his words,
“Just imagine a version of Coinbase out there purely focused on trading and that’s it. The system will be like the more you trade, the more money we make which is not something that we do. There really is a dark side to this hypothetical system as the customers actually lose money which is not our aim. The investors who buy and hold the assets and conduct long term trades are the ones that actually make money in this system.”
The Coinbase CEO asserted that he wanted Coinbase to conduct business in a fashion that boosts not only the world’s economy, but the cryptoverse’s as well. He also touched on the topic of taxes in the cryptocurrency space, but refrained from elaborating on it owing to legal concerns. Armstrong also responded to another user’s question about Coinbase’s entry into Canada. The Coinbase spearhead stated,
“We have always focused on adding more assets to our platform and expanding to more countries. The thing with Canada is that we had issues with the partner so we were forced to pull back and rethink our strategy. Fingers crossed, but we are planning for Canada soon.”
Brian Armstrong was in the news recently after he claimed that Bitcoin and other cryptocurrencies needed institutional investors to grow and mature. He even sided with the argument that having trusted custodians in the cryptoverse was “really important” to restore positive sentiment.
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Source: AMB Crypto

Bitcoin [BTC] has different use cases depending on where the user is; Venezuela is a good example, says Shapeshift’s Eric Voorhees

Proponents in the cryptocurrency industry have always made the effort to inform users and holders of coins about what is going on around them, in terms of use cases as well as regulations. The latest person to speak about the industry, more specifically Bitcoin [BTC], was Eric Voorhees, CEO of Shapeshift, a popular cryptocurrency exchange.
In discussion with Bloomberg, Voorhees stated that BTC’s price fluctuations and bubbles pave the path for establishing itself as a legitimate form of transaction. Voorhees was also asked whether Bitcoin will always remain a speculative asset or will it be used for actual purposes. To this, the Shapeshift CEO replied,
“The usage of Bitcoin actually depends on where the user is. In Venezuela, people are using it to escape inflation while in other countries people have started using in actual transactions. I agree that a majority of the use cases are still speculative but that will change as soon as people fully embrace it.”
Voorhees admitted that it has been a rough year for Shapeshift because of the addition of the Know Your Customer [KYC] feature on its wallets. He stated,
“We wanted a model that was supposed to be frictionless and aimed to increase the user’s privacy. All of us at Shapeshift wanted to build something that was useful but with the advent of KYC, it has become difficult. I have been a believer in Bitcoin since 2011 because as soon as I saw its application in terms of cross border transactions, I was hooked.”
The CEO opined that the legitimacy of cryptocurrency does not increase due to comments by groups of people, but rather from usage. He even commented on the entry of institutions into crypto by saying that established companies will hold a minority position for the foreseeable future.
Eric Voorhees was in the news recently after claiming that Bitcoin’s success rate was really minor in its early days, when compared to recent times. He had said,
“… the first bubble I was in, early-mid 2011, was bigger in terms of percentage gain but the industry was small back then, the people talked in terms of hundreds of thousands of dollars not multi-billion dollars. This is a big industry at this point and when this whole industry rises by a 100x in 2017 and then collapses back down by 90x, it has a big effect”
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Source: AMB Crypto

Bitcoin [BTC] and the blockchain space are two separate things, says Francis Pouliot

Bitcoin [BTC], the world’s largest cryptocurrency, grabbed headlines multiple times over the past month because of mainstream companies considering its adoption and price fluctuations. During the TNW 2019 conference, Francis Pouliot, the Chief Executive Officer [CEO] of BullBitcoin, a popular Bitcoin exchange, spoke about the cryptocurrency’s potential and the coin’s characteristics compared to that of its blockchain.
Pouliot stated that:
“I do not consider Bitcoin to be part of the blockchain space. I consider the two to be different.”
The CEO spoke about censorship resistance, the network’s sovereignty, censorship resistance, and the cryptocurrency’s monetary properties.
Pouliot went on to say that Bitcoin is fluid and that it is a great platform for people to liquidate their funds. According to him, BTC is not something that can be copied and then recreated somewhere else because of its inherent properties. He added that the world’s largest cryptocurrency is immutable and that it is safe because it is difficult to change the rules of Bitcoin by a single person.
The BullBitcoin official claimed that no one can stop someone else from using Bitcoin, which makes it a wonderful tool for free-market movement. He elucidated that Bitcoin was the first example of decentralized digital scarcity and was not like gold, which is scarce because of chemistry.
Pouliot was also in the news recently when he claimed that Bitcoin’s value proportion increased massively between December 2017-18. In his words:
“1/ Looking back at Bitcoin Markets
I learned years ago the futility of trading on $BTC market. My strategy: stable $BTC income, business profits in $BTC, not owning fiat.
My thesis: $BTC markets have a pattern of discovering the increase in $BTC held by hodlers last resort.”
He further added:
“2/ My first bullish signal was the slaying of Bear Whale in October 2014 (https://www.cnbc.com/2014/10/09/bitcoins-bearwhale-and-the-future-of-a-cryptocurrency.html …).
The second was Backpage being Financially censored and ONLY accept Bitcoin. Tens of thousands of sex workers now need bitcoin. I believe they helped create 2015 $200 price floor.”
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Source: AMB Crypto

XRP vs Stellar Lumens [XLM/USD] Price Analysis: Bear’s pressure still felt in the long-term

The cryptocurrency market had reached bullish pastures as Bitcoin [BTC], the world’s largest cryptocurrency, witnessed a resurgent price hike that also lifted the value of a majority of the top coins. Although the rise in prices was not enough to overturn the effects of the bear market completely, cryptocurrencies like XRP and Stellar Lumens [XLM] saw short-term gains that were a relatively rare phenomenon in 2019.
XRP 1-hour:
Source: TradingView
The one-day chart for XRP displayed a downtrend that resulted in the price falling from $0.367 to $0.318. The long-term support for the cryptocurrency was at $0.29.
The Bollinger bands had diverged slightly, which showed the bullish nature of the market and the slow increase in XRP’s value.
The Awesome Oscillator stated that the XRP market momentum was bearish.
The Chaikin Money Flow indicator was below the zero-line, a sign that the capital leaving the market was more than the capital coming into the market.
XLM 1-day:
Source: TradingView
XLM’s one-day chart painted a picture similar to that of XRP as the downtrend lowered the value from $0.108 to $0.089. The long-term support for XLM was holding at $0.0753.
The Parabolic SAR was above the price candles which indicated that the cryptocurrency was going through a bearish atmosphere in the long-term.
The Relative Strength Index had bounced back from the oversold zone. This meant that the selling pressure was significantly higher than the buying pressure.
The MACD indicator had undergone a bearish crossover after which it fell to the bottom of the graph. The MACD histogram was a mix of bearish and bullish signals.
Conclusion:
The above-mentioned indicators showed that although the market was bullish in the short-term, the control of the bear in the long-term was still unquestionable.
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Source: AMB Crypto

Bitcoin [BTC] has all the positives of gold without the downsides, says Digital Currency Group CEO

Barry Silbert, Founder and CEO of Digital Currency Group, has been a vocal advocate of Bitcoin [BTC] and the cryptocurrency market. In a recent interview with Fox Business, the Bitcoin bull touched upon the Drop Gold campaign, while focusing on the advantages that BTC possesses over gold.
Silbert stated that although the gold industry is valued at $8 trillion, it still does not have a connection with the latest generation of investors. He added,
“The younger generation of investors do not view gold in the same way as our ancestors did. They grew up with a gold standard and that is not what the economy needs right now. There is a major disconnect with the gold bodies and the central banks too. Why would you want to align yourself with Russia and China where the gold deposits go?”
The CEO added that the only way gold can have practical value is if the Dollar falls. However, Silbert also claimed that he wouldn’t bet against the United States. He stressed on Bitcoin’s benefits, emphasizing that the world’s largest cryptocurrency has utility and is much more accessible and portable than gold. According to him,
“At a 100 billion market cap, Bitcoin will only go up. It has all the benefits of gold with more upsides. Compare to the use cases of Bitcoin, gold can only be used to make nice jewelry and as a store of value. You have to change the perspective of an entire generation and that is why this campaign, which is designed to be provocative, was launched and marketed.”
Barry Silbert also spoke about the entry of tech giants like Facebook and Square into the cryptoverse, claiming that their entry will be followed by the creation of more infrastructure. He even pointed out the case of JPMorgan CEO Jamie Dimon, who agreed to creating a native token, despite being vehemently opposed to Bitcoin a year ago.
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Source: AMB Crypto

Bitcoin [BTC] to be offered as collateral during Uber’s Initial Public Offering [IPO]

The integration of cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH] with the mainstream financial ecosystem has been a focal point for many proponents of the space, as well as fans of the industry.
In a bid to cement this movement, WCX, a popular Swiss-based Bitcoin trading exchange, has announced that starting on May 10, users on the platform will be able to long and short Uber stocks using Bitcoin during the ride-hailing service’s much-talked about Initial Public Offering [IPO]. The official release from WCX read,
“The IPO is expected to value the company at over $90B. While the company has yet to turn a profit, many signs are pointing to its increasing success. New CEO Dara Khosrowshahi is working hard to reinvent the brand’s image and reignite trust in the business model. Uber is also betting big on technologies such as self-driving cars and food delivery which would allow it to keep scaling its business internationally.”
The platform also stated that users will be able to use Bitcoin as collateral to speculate and guess the future price movement of Uber stocks. WCX also educated its users that if they think the price will go up, they need to go long with Bitcoin and if the opposite is likely, users should go short. Developments such as this are expected to give a boost to Bitcoin’s value, at a time when it has taken a hit due to events such as the Binance hack.
Uber has slowly, but surely, entered the cryptoverse as the company also has tie-ups with Basic Attention Token [BAT] and the TAP Network. Brave users are given the option of redeeming their BAT tokens for gift cards on Uber and other platforms such as Amazon, Apple, and Starbucks.
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Source: AMB Crypto

Bitcoin [BTC] is significantly undervalued right now, says Adamant Capital’s Tuur Demeester

The multitude of research on Bitcoin [BTC] and its characteristics have made a mark on the cryptoverse, with several proponents predicting the world’s largest cryptocurrency’s rise and fall. One such research that grabbed headlines recently was the one published by Tuur Demeester, Founding Partner at Adamant Capital, which addressed the properties of the coin and the sentiments surrounding it.
Speaking to Peter McCormack, Demeester touched upon one area of the research ie. Bitcoin being significantly undervalued right now. The Adamant Capital founder stated that Bitcoin has always been used as a performance benchmark and that it can be a lot more than just a saving grace from the mainstream financial ecosystem. Speaking about BTC being undervalued, Demeester claimed,
“If you look at the blockchain and the Bitcoin that is being moved and then compare it to the current price, you will get something that is called the unrealized profit and loss. There is an assumption that when BTC is moved it is sold, and this event is called a value realization event. It is just that the owner had the opportunity to liquidate their Bitcoin and that is why they took it.”
Tuur Demeester further added that Bitcoin is a psychological market, with its value fluctuating depending on investor sentiments. He pointed out that the data aggregated for investors paint a picture if the market is in the green or in the red, which in turn affects market sentiment. According to him,
“We have seen similar patterns during late 2013 and early 2014 where there was a lot of unrealized profits which again happened during the summer of 2017. The investor psychology was more inclined towards greed and when the bear market sets in, the positive sentiment obviously decreases. Once it is in the red, retail investors walk away which is what happened last November when BTC drooped from $6000 to almost $3000.”
Demeester was in the news recently after he opined that Bitcoin was slowly maturing into full-fledged digital gold and reserve asset. He compared the rise of BTC to money, stating that it was a result of evolution and not a sudden apparition.
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Source: AMB Crypto

Bitcoin [BTC] does everything that gold used to do, claims Grayscale Investments CEO

Bitcoin’s [BTC] nature and advantages resulted in a lot of its proponents speaking for the world’s largest cryptocurrency. The latest luminary to speak on its behalf is Barry Silbert, Founder of Digital Currency Group and CEO of Grayscale Investments.
In a recent interview with Fox Business, the Bitcoin bull addressed the cryptocurrency’s performance and its characteristic similarities with gold. Silbert stated that Bitcoin tends to perform really well during periods of financial dislocation, like shifts in mainstream financial markets or any negative news hampering its developments. In his words,
“Bitcoin does what gold used to do. At the moment, if you look at the charts, Bitcoin is up and the tariff news from China looks to be a great setup for the cryptocurrency’s price. It may be that or maybe the drop gold movement is having an effect.”
The Grayscale CEO was also asked if Bitcoin’s current position could be considered as a fall or if it was the start of another rise. To this, Silbert stated that over the course of the past couple of months, Bitcoin had gone from $500 to all-time highs, and then all-time lows to be on a path to recovery presently. According to him,
“Bitcoin is the younger generation version of gold. It is scarce, divisible, portable and everything that one needs for fast and safe transactions. The Bitcoin community is creating a wonderful payment and rail network that will transform the currency financial ecosystem.”
During the interview, Silbert also touched upon the topic of “Why Bitcoin and not anything else?” The Digital Currency Group exec claimed that the reason why BTC stands out from the rest of the cryptocurrency market is that it is the first mover and has the biggest market cap, with the added advantage of having “a great community.”
Barry Silbert was also confident that only Bitcoin has the volume to become the sole leader of the cryptocurrency market, despite there being a lot of competition to win crypto.
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Source: AMB Crypto

Bitcoin [BTC/USD] and Litecoin [LTC/USD] Price Analysis: Sideways movement takes over as bullish momentum stalls

Price fluctuations in the cryptocurrency industry have been ongoing for some time now, with some cryptocurrencies enjoy a slight bullish run while others still in the bear’s claws. Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant rise in value over the previous week, almost touching the $6000 mark. On the contrary, Charlie Lee’s Litecoin [LTC] could not boast of Bitcoin’s gains as the cryptocurrency was trapped in sideways movement pattern.
Bitcoin 1 day
Source: TradingView
The one-day chart for Bitcoin showed an uptrend that lifted its price from $4159.09 to $5119.17. The long term support was at $3162.09.
The Bollinger bands had diverged from each other, signaling the start of a bullish price outbreak.
The Chaikin Money Flow indicator was above the zero line which meant that the capital coming into the market was more than the capital leaving the market.
The Awesome Oscillator displayed a slight fall in its amplitude due to a fall in Bitcoin’s market momentum.
Litecoin 1 day
Source: TradingView
Litecoin’s one day chart showed a similar pattern to that of Bitcoin, with the uptrend having lifted its price from $33.22 to $64.38. The long term support was holding at $22.56.
The Parabolic SAR was below the price candles, meaning that the cryptocurrency was going through a bullish atmosphere.
The Relative Strength Index was in the middle of the graph, a sign of the equilibrium between the selling and buying pressures.
The MACD indicator, after a bearish crossover, saw the signal line and the MACD line fall to the bottom of the graph. The MACD histogram was a mix of bearish and bullish signals.
Conclusion
The aforementioned indicators stated that the cryptocurrency market was going through an imminent bullish turn, that may however, be short-lived. This was evidenced by the lack of market momentum.
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Source: AMB Crypto

Ethereum [ETH] Co-founder Joseph Lubin: Ethereum 2.0 will become more significant than any other project

Joseph Lubin, Founder of Consensys and a major Ethereum proponent, has always been an active participant in the cryptocurrency space. In a recent interview with Tom Shaughnessy of Delphi Digital, Lubin touched upon Ethereum’s competition, as well as its future plans.
The Founder was asked whether Ethereum’s competitors like EOS, Tezos and Cosmos were a threat to the network or if it had nothing to worry about. The Consensys official claimed that positive developments anywhere in the ecosystem lift everyone, while at the same time, some projects are intended to be competitive. According to Lubin,
“Some projects are focusing on marketing like Tron and EOS. Both of them have taken the approach of raising a bunch of money and use the motto ‘fake it till you make it’. There are definitely other good projects in the space and many have had close ties to Ethereum from the start.”
The entrepreneur also spoke about the openness and transparency of the space, focusing on them as key aspects for its successful integration with mainstream technology. In his words,
“Open source is our ethos and we believe it is absolutely necessary. There is  a ton of communication and collaboration and we are all campaigning on marketing or bringing in the best talents to build a better ecosystem.”
The Ethereum Co-founder stated that in terms of openness, Ethereum has the best technology and technologists. Lubin also claimed that the project was moving faster than ever before and that Ethereum 2.0 would become more significant than any other project in the cryptoverse.
Ethereum was in the news recently after a recent survey by the deVere Group stated that Bitcoin [BTC] and Ethereum [ETH] will be part of High Net Worth [HNI] revenue streams. Nigel Green, CEO of deVere Group, stated,
“There is growing, universal acceptance that cryptocurrencies are the future of money – and the future is now. High net worth individuals are not prepared to miss out on this and are re-balancing their investment portfolios towards these digital assets.”
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Source: AMB Crypto

Ethereum [ETH]: Everything about ETH needs to improve, claims Consensys’ Joseph Lubin

Ethereum [ETH], the second largest cryptocurrency in the market, had a tumultuous couple of months, with many in the space speculating it to be ‘dead.’ However, the coin has since rallied owing to several developments and pushes from its proponents. The latest Ethereum luminary to speak about the cryptocurrency was Joseph Lubin, Founder of Consensys.
Speaking to Tom Shaughnessy of Delphi Digital, Lubin spoke about the struggles that Ethereum went through and its repercussions on the entire network. Lubin stated that Ethereum slowly, but surely changed over time and that the changes are definitely natural, claiming that “Ethereum was always intended to evolve.” He added,
“Ethereum was always supposed to evolve just like Bitcoin was supposed to evolve. Some say that BTC should move slower on the development scale, maybe even glacier-like. The reason is that if you are building a decentralized system for the planet, we do not want rape movement to disrupt the upgrades.”
The CEO stated that he and his team always wanted to build a platform for Decentralized Applications, but was also aware that they had to become more capable as the tech evolved. Lubin admitted that with Ethereum, the team achieved what many thought would be impossible: building a proof concept and an “incredibly sophisticated ecosystem.”
In his words,
“When we built Ethereum we were aware that it wouldn’t be scalable but we also knew that it would support certain kinds of use cases. The goal was to build a decentralized platform and a better decentralized trust system.”
According to Lubin, Ethereum 1.0 was always intended to be the starting point for future upgrades, while at the same time enabling use cases and a “better kind of money.” He was also frank in admitting that the team shied away from positioning itself as a money system and that growing pains in the ecosystem were essential to growth. He stated,
“We never wanted to move too quickly with developments and it will happen slowly. Everything about Ethereum needs to improve.”
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Source: AMB Crypto

Bitcoin [BTC] performed better than crude oil and tech stocks in 2019, claims Binance Research

Bitcoin [BTC], the world’s largest cryptocurrency, has had an exciting new year as a rise in its prices proved its naysayers and critics wrong. The latest report compiled by Binance Research gave more evidence to support this fact, with numbers suggesting that Bitcoin has outperformed most traditional asset classes in 2019.
BTC’s Year-to-Date [YTD] returns were compared to that of crude oil, tech stocks, United States’ real estate market and other commodities like global stocks and natural resources. Statistics showed that Bitcoin’s YTD was 53 percent, when compared to crude oil’s 33 percent and the 24 percent generated by tech stocks. The research further stated that assets like gold and agriculture generated a negative YTD of 1 percent and 5 percent, respectively.
Bitcoin generating more YTD than gold was a key highlight because of the conflict between gold as a standard store of value and Bitcoin’s claim to that title. This competition was also highlighted by a report presented by the World Gold Council [WGC] recently, where it stated,
“Physical gold can be bought for a small percentage above spot price, and purchasing gold via allocated, physically-backed gold ETFs can cost less than a basis point over spot  As an example, Bitcoin charges many percentage points (we’ve seen as high as 9% on some exchanges) via the process of the bid/ask spreads and entering and exiting positions.”
Binance’s research was conducted to prove that the bear market that had taken hold of the cryptocurrency market last year, had not had any long-lasting effects on the world’s largest cryptocurrency. Many users queried whether the charts would retain the same look if the parameters were risk adjusted. However, Binance Research was yet to respond, at press time.
Despite positive developments in the Bitcoin universe, many critics remain adamant in their opinion that Bitcoin has no place in the world of finance. This was elucidated by Nobel Prize winner, Joseph Stiglitz, who stated,
“It disturbs me a great deal the attention that was given to cryptocurrencies because those were moving things off of a transparent platform into a dark platform.”
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Source: AMB Crypto

Bitcoin Cash [BCH]: Roger Ver divulges details about SLP based token for K-pop

The latest luminary in the space to come out in support of a mainstream usage of crypto is Roger Ver, the Chief Executive Officer [CEO] of Bitcoin.com and a voracious supporter of Bitcoin Cash [BCH].
In the latest video released by Bitcoin.com, Ver revealed details about a new token made just for Korean Pop [K-pop] music. The token will be called the Brave Sound token and will be made on the Bitcoin Cash platform. He stated:
“This is a great moment for all of us because I am a fan of kpop and bitcoin cash embracing the growing culture is a big deal. The upcoming token will be based on the Single Ledger Protocol [SLP] and I thank Digifinex for listing it on their platform.”
The Brave Sound Token officials released their own circular talking about Ver’s involvement in the project, stating:
“We are proud to confirm that Mr. Roger Ver is now a shareholder of Brave Sound Token (BRST). Roger Keith Ver is an early investor in bitcoin-related startups. He has been a prominent supporter of bitcoin adoption and saw bitcoin as a means to promote economic freedom.”
Roger Ver was also in the news recently for his ongoing war against nChain chief scientist Craig Wright and his claims of being Satoshi Nakamoto, the creator of Bitcoin. Ver had said:
“Craig Wright is a liar and a fraud. So sue me, again.”
Ver’s comments caught the eye of several players in the cryptoverse, out of which one was WhalePanda, who tweeted:
“You gave this man a platform, you gave him credibility and now you can no longer use/control him. SAD”
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Source: AMB Crypto

Stephen Palley says ICO boom was just a flash in the pan and will not happen again

The regulatory climate of the crypto-verse has always been a hotly debated topic with multiple parties taking sides as to whether the governing bodies need to amend their rules and regulations regarding cryptocurrencies or keep it as it is. In an interview with Max Keiser of the Keiser report, Stephen Palley, a famous lawyer in the field of cryptocurrencies and a partner at the Washington DC officer of Anderson Kill, talked about the lack of information related to rules in the space. He also spoke about amending the regulations proposed by the SEC.
Palley started by saying that the courts are applying existing laws to something that they didn’t even know while claiming that the ICO boom was a ‘flash in the pan’ and would not happen again.
According to Palley:
“I am not personally inclined to use unknown technology that we don’t understand to raise money. What I do know is that what happened in December 2017- June 2018 will not happen again. Right now we are dealing with disputes in the space, and ones that are related to regulations.”
Palley was then asked whether the Securities and Exchange Commission [SEC] need to be changed and whether there was a requirement for new laws. The lawyer firmly stated that he believed in the Howie test that is being used in the space right now as it is all about securities. He added:
“I am not sure why we need a change in the securities act, but I do believe that there are some areas where there can be more regulatory clarity, especially the Bank Secrecy Act. The changes can also extend to transactions that are crypto to crypto transactions as well.”
Stephen Palley was also in the news recently when he had said that the BTC price crash was not because of the SEC crackdown. In his words:
“I’m not sure that there is necessarily any connection between recent SEC activity and the price of cryptocurrency that may or may not be the case but it’s difficult for me to see a necessary cause or relationship.”
 
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Source: AMB Crypto

Bitcoin [BTC]: Micro-payments is a field that will be greatly benefited by cryptocurrencies, says Stephen Palley

The proponents of the cryptocurrency market have had a major role to play in directing the flow of mainstream adoption within the industry as well as integrating its benefits with the financial ecosystem. One such proponent is Stephen D Palley, a partner in the Washington DC office of Anderson Kill, who has voiced multiple opinions about the world of digital assets, especially Bitcoin [BTC].
In the latest Keiser Report with Max Keiser, Palley talked about his introduction to the world’s largest cryptocurrency and talked about the cloudy atmosphere surrounding the industry right now. The lawyer stated that he initially considered digital assets because of the need to settle lawsuits that did not involve a defendant and others. In his words:
“I actually wanted a program to settle third party number lawsuits and that is how I got into the world of digital assets. I slowly ended up with a centralized database and that’s how I found Bitcoin. Truth be told, I am a better lawyer than a programmer. “
Palley claimed that the notion of a trustless escrow was really good because there is no person in between the sender and the receiver. He further added that the main aim was to program money to move without even having an account or an escrow. The Anderson Kill partner went on to say:
“Another problem was sending small amounts of money and that is where I think digital assets can really help. Micropayments can be a sector that can greatly benefit from Bitcoin and the movement of other cryptocurrencies. “
Stephen Palley also touched on the regulations in the cryptocurrency industry and stated that people should consider it with an open mind. He compared the sentiment of the public towards Bitcoin to that of the reactions of people when electricity was first discovered. He said:
“No one was really shocked and against electricity when that was first discovered around 150 to 200 years back and that should be the same way we approach Bitcoin too.”
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Source: AMB Crypto