{"id":417069,"date":"2020-03-05T17:00:17","date_gmt":"2020-03-05T17:00:17","guid":{"rendered":"https:\/\/uniquehot.com\/?p=417069"},"modified":"2020-03-05T16:23:13","modified_gmt":"2020-03-05T16:23:13","slug":"the-most-powerful-crypto-ceo-is-skeptical-of-bitcoins-future","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/the-most-powerful-crypto-ceo-is-skeptical-of-bitcoins-future\/","title":{"rendered":"The Most Powerful Crypto CEO Is Skeptical of Bitcoin&#8217;s Future"},"content":{"rendered":"<p><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> was the first-ever cryptocurrency to be created, and the leader of the entire crypto market.<\/p>\n<p>So then why is the most powerful crypto company CEO so skeptical of the asset\u2019s future?<\/p>\n<h2>Bitcoin Tech Showing Signs of Age, Altcoin Attributes Shine<\/h2>\n<p><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> was first designed in 2008 by the mysterious, pseudonymous <a href=\"https:\/\/en.wikipedia.org\/wiki\/Satoshi_Nakamoto\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Satoshi Nakamoto<\/a>.<\/p>\n<p>The disruptive, decentralized cryptocurrency was the first of its kind and was built to solve the issues of any of the many <a href=\"https:\/\/en.wikipedia.org\/wiki\/Hashcash\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">digital currencies that came before it<\/a>, such as double-spending and removing the need for a central authority.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/09\/24\/50-of-population-to-use-bitcoin-by-2043-if-crypto-follows-internet-adoption\/\">50% of Population To Use Bitcoin By 2043 If Crypto Follows Internet Adoption<\/a><\/strong><\/em><\/p>\n<p>But despite its futuristic intentions to eventually replace all fiat currencies on earth and become the <a href=\"https:\/\/www.cnbc.com\/2015\/11\/03\/bitcoin-to-be-6th-largest-reserve-currency-by-2030-research.html\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">sole global currency used across the world<\/a>, the technology behind it is now ten years old and requires second-layer technologies in order to stay ahead of the competition brewing across the rest of the space.<\/p>\n<p><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> is also relatively slow compared to the rest of the crypto space, and mostly serves the need for a store of value or means of value transfer.<\/p>\n<p>Whereas the next largest crypto asset, <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a>, offers a variety of attributes above and beyond what Bitcoin can offer, such as smart contracts.<\/p>\n<p>At this point, there are thousands of altcoins in the cryptocurrency market, each offering something different than Bitcoin. The promise and unpredictability of the emerging asset class, has caused even the most powerful CEO in the crypto market to be skeptical of Bitcoin\u2019s future.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I&#39;m sure he would deny it, but it&#39;s interesting to me that the CEO of the world&#39;s most prominent Bitcoin-related company seems so skeptical of Bitcoin. <a href=\"https:\/\/t.co\/mlekHKO3Iz\" rel=\"nofollow\">https:\/\/t.co\/mlekHKO3Iz<\/a><\/p>\n<p>&mdash; Joe Weisenthal (@TheStalwart) <a href=\"https:\/\/twitter.com\/TheStalwart\/status\/33589248?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 4, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Coinbase CEO Brian Armstrong Skeptical on Which Crypto Leads To Adoption<\/h2>\n<p><a href=\"\/tag\/coinbase\" rel=\"nofollow\">Coinbase<\/a> CEO Brian Armstrong took to Twitter recently to talk about his recent fireside chat with Ben Horowitz.<\/p>\n<p>During the tweetstorm, Armstrong revealed how the early internet developed, and how <a href=\"https:\/\/thenewstack.io\/brendan-eich-on-creating-javascript-in-10-days-and-what-hed-do-differently-today\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">eventually better protocols came along<\/a> that allowed for greater variety and developer creativity. It is these advances that caused the internet to become an everyday tool people use.<\/p>\n<p>The parallels are used to demonstrate how young the crypto industry is.<\/p>\n<p>https:\/\/twitter.com\/brian_armstrong\/status\/97252096<\/p>\n<p>Armstrong later concludes that he believes it is \u201cstill very much up in the air which blockchain\u201d will bring crypto adoption from roughly 50 million users to 5 billion.<\/p>\n<p>The <a href=\"\/tag\/coinbase\" rel=\"nofollow\">Coinbase<\/a> CEO also adds that the blockchain that manages to solve scalability, privacy, decentralized identity, and developer tool solutions will have the best chance of doing so.<\/p>\n<p>https:\/\/twitter.com\/brian_armstrong\/status\/00592128<\/p>\n<p>However, those attributes are not currently major selling points of <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> and are instead features of other altcoins found throughout the crypto market.<\/p>\n<p><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> clearly has first-mover advantage and brand recognition, and while these features can be layered over the Bitcoin protocol, the technology behind the first-ever cryptocurrency is sorely lacking compared to other altcoins in the space.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/10\/17\/coinbase-cash-app-remain-top-rated-places-to-easily-buy-bitcoin\/\">Coinbase, Cash App, Remain Top Rated Places To Easily Buy Bitcoin\u00a0<\/a><\/strong><\/em><\/p>\n<p>It\u2019s enough to cause even the <a href=\"https:\/\/www.forbes.com\/profile\/brian-armstrong\/#a9e39dd5077c\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">most powerful CEO<\/a> in the entire market to be skeptical about Bitcoin\u2019s future. But what eventually unseats the leading cryptocurrency by market cap, is anyone\u2019s guess \u2013\u00a0and potentially may not even exist yet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin was the first-ever cryptocurrency to be created, and the leader of the entire crypto market. So then why is the most powerful crypto company CEO so skeptical of the asset\u2019s future? Bitcoin Tech Showing Signs of Age, Altcoin Attributes Shine Bitcoin was first designed in 2008 by the mysterious, pseudonymous Satoshi Nakamoto. The disruptive, decentralized cryptocurrency was the first of its kind and was built to solve the issues of any of the many digital currencies that came before it, such as double-spending and removing the need for a central authority. Related Reading | 50% of Population To Use Bitcoin By 2043 If Crypto Follows Internet Adoption But despite its futuristic intentions to eventually replace all fiat currencies on earth and become the sole global currency used across the world, the technology behind it is now ten years old and requires second-layer technologies in order to stay ahead of the competition brewing across the rest of the space. Bitcoin is also relatively slow compared to the rest of the crypto space, and mostly serves the need for a store of value or means of value transfer. Whereas the next largest crypto asset, Ethereum, offers a variety of attributes above and beyond what Bitcoin can offer, such as smart contracts. At this point, there are thousands of altcoins in the cryptocurrency market, each offering something different than Bitcoin. The promise and unpredictability of the emerging asset class, has caused even the most powerful CEO in the crypto market to be skeptical of Bitcoin\u2019s future. I&#39;m sure he would deny it, but it&#39;s interesting to me that the CEO of the world&#39;s most prominent Bitcoin-related company seems so skeptical of Bitcoin. https:\/\/t.co\/mlekHKO3Iz &mdash; Joe Weisenthal (@TheStalwart) March 4, 2020 Coinbase CEO Brian Armstrong Skeptical on Which Crypto Leads To Adoption Coinbase CEO Brian Armstrong took to Twitter recently to talk about his recent fireside chat with Ben Horowitz. During the tweetstorm, Armstrong revealed how the early internet developed, and how eventually better protocols came along that allowed for greater variety and developer creativity. It is these advances that caused the internet to become an everyday tool people use. The parallels are used to demonstrate how young the crypto industry is. https:\/\/twitter.com\/brian_armstrong\/status\/97252096 Armstrong later concludes that he believes it is \u201cstill very much up in the air which blockchain\u201d will bring crypto adoption from roughly 50 million users to 5 billion. The Coinbase CEO also adds that the blockchain that manages to solve scalability, privacy, decentralized identity, and developer tool solutions will have the best chance of doing so. https:\/\/twitter.com\/brian_armstrong\/status\/00592128 However, those attributes are not currently major selling points of Bitcoin and are instead features of other altcoins found throughout the crypto market. Bitcoin clearly has first-mover advantage and brand recognition, and while these features can be layered over the Bitcoin protocol, the technology behind the first-ever cryptocurrency is sorely lacking compared to other altcoins in the space. Related Reading | Coinbase, Cash App, Remain Top Rated Places To Easily Buy Bitcoin\u00a0 It\u2019s enough to cause even the most powerful CEO in the entire market to be skeptical about Bitcoin\u2019s future. But what eventually unseats the leading cryptocurrency by market cap, is anyone\u2019s guess \u2013\u00a0and potentially may not even exist yet.<\/p>\n","protected":false},"author":517,"featured_media":417078,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,5888,1393,6664,1946],"class_list":["post-417069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-brian-armstrong","tag-coinbase","tag-crypto","tag-ethereum"],"acf":[],"yoast_head":"\n<title>The Most Powerful Crypto CEO Is Skeptical of Bitcoin&#039;s Future<\/title>\n<meta name=\"description\" content=\"Bitcoin was the first-ever cryptocurrency to be created, and the leader of the entire crypto market. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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