CEO of one of the most popular crypto exchanges BitMEX Arthur Hayes expressed his opinion about bitcoin being the ‘’society’s best hope for a private form of e-money’’ so for that reason in today’s blockchain news we are about to find out more about his stance on the future of cryptocurrencies.
BitMEX is now one of the larger crypto trading platforms and Hayes is known to be bullish on the future of cryptocurrencies and proclaimed that cryptocurrencies are the near future of e-money saying they are a ‘’synthesis of the existing central bank system and our increasingly corporatized economy.’’
Hayes used WeChat Pay so he could explain his theory. The platform is one of the most innovative platforms in China where users can pay merchants via mobile app connected to your bank account. The BitMEX CEO thinks that platforms such as that one are disrupting the traditional fiat payments but can also endanger the privacy.
He continued to explain how the private corporations easily have access on all of the customers’ information and this can leave an open door for government agencies to gain access as well and violate the customers’ privacy:
‘’At the same time, we’ve seen our governments in the West, when the spirit moves them, lean hard on our corporate friends to cough up our personal information. Unsurprisingly, the corporations tend to comply with these requests.’’
As a possible solution, Hayes noted that Bitcoin has the ability to become the most popular digital asset in that will protect the customers because of its decentralized nature. The network that Bitcoin uses doesn’t demand permissions or favors and there is no identifiable information contained in the transactions.
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"We believe this thesis still remains intact which could mean seeing a break of the lows in the coming weeks. A 25% selloff in BTC from the current lows of $3,200 would be to roughly $2,400."He also shared that the next sell-off could be just what the crypto market needs in order to finally break the backs of the bears and reach a new bull momentum in 2019.
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“Bitcoin is now accessible at your local grocery store via Coinstar kiosks, and this offering will make it even easier for consumers to participate in this dynamic new economy.”Coinstar, on the other hand, offers coin-to-cash conversion in their kiosks in multiple countries around the world but it still remains unknown whether the Bitcoin feature will expand just as quickly as it did in the US. Coinstar’s CEO Jim Gaherty noted: Coinstar offers coin-to-cash conversion kiosks in various countries throughout the world. It remains unknown whether the Bitcoin feature will expand beyond the U.S., while the company did not provide figures on how many machines will offer it.
“Coinstar is always looking for new ways to offer value to our consumers when they visit our kiosks.’’According to CoinATMRadar industry monitoring resource, there are more than 4187 Bitcoin ATMs worldwide and more than 60 percent or 2516 are in the United States. The market has grown plenty over the years and many operators are trying to get control of what they think to become a fairly popular trend for crypto usage.
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