Co-founder Bitcoin Foundation: cryptocurrency isnt a bubble and a needle
The co-founder and the executive director of Bitcoin Foundation Jon Matonis is sure that the fears connected to "bubble" of cryptocurrencies are unreasonable. On the contrary, it is just the stock markets "are always "artificially inflated" by the central banks, he said in an interview to Business Insider.
"I will answer people who say that the bitcoin is a bubble that the bitcoin actually is a needle which will pierce a bubble. The bubble is mad stock markets and securities which support the Central Banks. This bubbles" — Said Matonis.
He is sure that now the economy departs from "the legal currencies controlled by banks", decentral assets like bitcoin support this shift.
To Bitcoin Foundation Matonis was a trader in the Japanese bank Sumitomo and Visa. The non-profit organization was founded for support of core-developer bitcoin protocols. Matonis consisted from 2012 to 2014 holds a post of the executive director in council of fund to this day.
Despite scepticism concerning the existing financial system, it is sure:
"It is fine that big banks like Goldman Sachs show the increasing interest in the world of cryptocurrencies".
"I think, it is remarkable that they come to the market because it will lead to increase in liquidity. Institutions will help to make the market is more adult and to reduce volatility. They will create the markets of futures and options" — Matonis added.
According to him, regulators try to find "common language" with cryptocurrencies worldwide, and in Great Britain declared creation of the appropriate working group recently.
"Regulators were very much tangled — not only in Europe, but also in North America. They got used to the fundraising models based on sale of debts or securities. [Cryptocurrencies] is the third model of attraction of financial resources. They put on the market utilitarian tokens which are not securities, are not debentures. In reality they are announcement about success of a token directly connected, ideally, to success of the company. It is absolutely new model and it is not inscribed in the existing regulatory frames" — Matonis reads.
I don't get this whole discussion people seem to be having about bubbles. ITS NOT THAT IMPORTANT...
The housing market was also a huge bubble... Does that mean that people don't use houses anymore?! Same applies to blockchain!
The total value of shares in the stock market is 17 times higher than the number of dollars in circulation, and a total of 9 times more cash euros in circulation. However-most of them are in these 2 currencies and are quoted. That is, the stock market is overrated to a large extent. I certainly understand that it can not be opened - the financial system of the West will bend immediately, and will pull for itself and us, nevertheless - in a crypt of belief more than in bucks. At worst - there are still gold, but its expensive to maintain, meaning physical gold.
Agreed!
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