It’s really weird when the ‘Experts’ are so blatantly wrong about Bitcoin.

Oops
  • Joseph Rubin, CEO and Founder of Rubius Inc. (a fintech software startup from Tampa, FL) had this to say: “Bitcoin isn’t based on secrecy. Although it is pseudo-anonymous, all transaction data is publicly available. Authorities only need to reach out to the exchanges (and other transmitters) for the individuals KYC information, in order to trace payments. It would be ridiculous if they went a step further and published peoples names on next to all transactions. That would be like having all your personal bank statements as public knowledge.” I’ll add here, even where there is no exchanges involved and no possible KYC (Know Your Customer) rules applied, blockchain forensics experts can track IP addresses of both senders and receivers of payments, sometimes even being able to track people by deduction even when VPNs or TOR (privacy software or browser) is used to mask one’s IP address. Also note to self: we need a podcast episode on Rubius.io, it looks awesome!
  • Mark Foster, the crypto analyst from Australia behind the project Cryptonoid adds some context: “There is definitely much misleading information regarding bitcoin and cryptocurrencies by the elites of the old traditional system. However while they make statements like this, (*Bitcoin will fail due to regulation etc etc) moves are being made behind the scenes to make their systems obsolete. For example, Litecoin has previously acquired 9.9% of German bank WEG. This is such a huge! This will allow the Litecoin foundation to implement their technology with the swift system. This will bridge the old swift system with the lightning network. The lightning network is linked with Bitcoin. The lightning network will be adopted over time due to its efficiency. Meanwhile, the ‘economic elite’ will keep misinforming the population while the ‘financial elite’ set the infrastructure for a crypto future by using CBOE to apply for a bitcoin ETF which I strongly believe will be approved by the SEC. Not only is CBOE a established futures exchange, but they’re Bitcoin ETF will be fully insured, unlike other applications.” Note to self, we need a deep dive on the lightning network!!
  • Michael Philipou, Co-Founder and Co-CEO of Blockloan, a new decentralized lending platform (Cool!): “Bitcoin has been exceptionally successful in that it has been widely enough adopted to disrupt traditional fiat currency and prove that the future will see only digital currencies being used. Fiat currencies will not survive and arguably Bitcoin has been the catalyst to bring this on. I think Central Banks will respond by issuing their own digital currency, and they have to or they will not be able to compete and get left behind. We are seeing more and more examples of businesses accepting bitcoin as payment & I would expect that this will only increase. All of this said, I don’t think that Bitcoin will be the prevailing currency, but either way, it is exceptionally successful.”
Me and Travis Morehead up in Iceland @ the Bitclub mining facility.

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Corey Cottrell

Corey Cottrell

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Writing. FB Live. Podcasts. Experimenting. 100 Days of Gettin Healthy, 100 Days of Ted Talks to stave off depression.