Topic: [2018-06-17] ‘Selling Crypto Now Is Like Selling Apple in 2001’: eToro CEO (Read 167 times)

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Thats the problem about pople whos not open for innovation,apple started its own technology in regards to gadget.many has hated this because of the security features in which not so friendly user and me myself use to hate this brand,but now im a loving supporter and user of apple.

In this same manner i hate cryptocurrency in past.when friend offers me about this profiteering i have told him that it was. Scam just like many sites over internet,but now learning the technology and the future on this.wel i might said this is the promise of tomorrow

You did the right thing, no need to feel sorry. It happens a lot, but people shouldn't blame themselves for doing what needs to be done. Everyone wants to hold as long as possible but some times the situation of being forced to sell can't be avoided. I feel good knowing that when I need money I have enough fiat ready to fall back on, but not everyone has that advantage unfortunately. Benefit of Bitcoin is that it will keep going up with how much more potential it has, so even at current levels you will be doing well in the next few years. We can't change the past, but we can do something to improve what we have ahead of us.

Of course I understand people who sell crypto just because they need money at the moment because I'm one of them. I remember selling 0.3 BTC at $600 knowing well that the price will be much higher in the nearest future, but what should I do if I needed the money at the time?

But I don't understand those who are "disappointed" like you said. Imo they should be glad that Bitcoin showed the ability to reach $20k in December 2017 because it's a common knowledge that Bitcoin's ATHs are always repeated and surpassed in the future.

That's what many a person actually wants. Etoro do hold the actual coins they just never let people access them. It's when they change that is when you have to wonder.

They themselves are opening up crypto wallets so it looks like they're heading out of CFDs and into real trading.

I ended up moving my coins to dump BCash. Not only did the ~0.17BTC average sale per Bitcoin tempt me to dump them, but I don't want to contribute to BCash's circulating supply to remain scarce.

I won't tell you what to do with your coins, because I hate that if someone does it to me, but at least consider how people not dumping BCash will help that coin to reach new highs much easier. The only outcome is that Roger Ver and Jihan will end up getting richer. Both ill minded individuals are only out to harm newbies thinking into BCash is Bitcoin.

All the other forks I haven't done anything with yet and probably will not with how their price isn't worth even thinking about it.

This is very probable, but people tend to believe that there is money to be made in trading altcoins. People think that even if some coins are blatant ponzi schemes (BitConnect anybody?), they can still get out before the scheme crashes. Until this greed subsides, people will continue to invest in altcoins.
As far as Bitcoin is concerned, it is a safe investment in the long run. I have not touched my bitcoins even to harvest my forked coins.

I do not get eTore. They sell just papers (CFD). How do they talk like someone that understand what will be the future of cryptocurrencies? If we have any chance to continue to see crypto as relevant in the future, you should buy the currency or token. Not just some papers from a company.

A very good similarity of the two. Apple was doubted by many investors just like what is happening to bitcoin. But after several years, Apple has now become a tech giant and a brand for sophisticated devices. I'm so excited when that happens to the btc and altcoins.

People, the more mature their crypto habits become, the more they will start appreciating Bitcoin for its solidity.

Altcoins come and go and there is literally nothing providing any certainty of which coin will manage to remain relevant and which won't. Bitcoin is always a safe bet, and wealthy players like safe bets.

I cringe every time I see people call Bitcoin boring. Bitcoin is boring but it dominates the entire crypto space when it comes to pointing out the direction. Bitcoin stagnant means the whole crypto space is stagnant.

If altcoins were providing anything of value and people actually cared about them individually, they would move on their own. People only sit in altcoins because they know that when Bitcoin goes up 1%, altcoins go up 2-3%.

I always look at BTC through adoption and compare it to the well known curve of adoption. While some people are saying that crypto is crashing, it doesn't matter as long as adoption is continuing. It can drop short term, but the user base is growing which means next time it goes up even more people will chip in and push it higher.
Of course it's really hard not to be overly excited and find balance, because it can always fail and become unpopular, but crashes mean nothing as long as the fundamentals are in place.

While some notable companies like Amazon and Google have survived the bubble and grew into absolute giants, thousands of companies have tied, and it looks very similar to what we see today on the crypto market - coins and tokens keep popping up, being pumped and dumped, many have already died, thousands will die eventually, because this whole crypto market has very little fundamentals - the blockchain technology still haven't yielded any results, the biggest achievement of smart contracts is CryptoKitties, which are centralized and nearly dead now. There's no way that this market will survive as it is in the long run, there will be a huge crash, and after that only a handful of coins will survive and investors will start using their brains before throwing money at anything that has "Crypto", "blockchain", "decentralized" in its name.

Coins will always change hands, it is something quite normal and selling BTC or any other crypto today is nothing strange. Some people just need money, others are disappointed because price is so low compared to the end of last year and they want out from the game. Yoni make good points in his
interview, he is looking at cryptocurrency for long term and I agree with him. Most people who have some money invested in BTC are simply in fear not to lose their investment, but for me is more likely that BTC will succeed then to fail.

It highly depends actually. I am quite sure that the far majority of the coins will become worthless or near that in the coming 5 or so years.

The first gen altcoins are almost done and over, while we are now in the process of getting rid of the second gen altcoins, and this will continue till people come to sense.

I stopped dealing with altcoins in late 2014 and I am happy that I did so. I quickly realized how full of shit the altcoin market actually is. Years later, nothing has changed for the better, and nothing will change for the better. Every now and then we'll see one coin pop out and become actually big, which turned out to be Ethereum, but what's next? Bitcoin is allround and Ethereum is so.

First mover advantage is incredibly important and will make sure that smaller coins with better tech don't manage to grow out to a potential threat, especially when you take into consideration that the larger coins can implement these features just as easily.

Yoni Assia has proven to be a good businessman. His platform, eToro, raised $100 million in a private funding round in 2018 year alone, not to mention dozens of millions USD raised in previous years. So there is every reason to suppose that he speaks sense. And I'm not saying this to prevent further panic selling because recently I realized that Bitcoin can't be killed or even wounded by it. Let those who panic sell keep doing what they are doing, it doesn't matter. I'm saying this to support people who are holding these days despite of numerous attacks suggesting they are wrong and that crypto will be dead soon.

Ever since the arrival of Bitcoin, many people have predicted that “soon” all of the cryptocurrencies will crash. The trends in cryptocurrencies have been compared to global events such as tulipmania, the 1929 stock market crash and the dotcom bubble. However, even after the recent fall in crypto prices, the industry continues to attract new investors.

This time, Yoni Assia, CEO of trading platform eToro, has picked up the dotcom bubble analogy. However, instead of speaking against the technology, Assia has chosen a different path. In an interview with Bloomberg, Assia said that 90% of the crypto startups will “end as nothing” but he believes that these startups have a bigger platform than the ones in the dotcom bubble.

From 1995 to 2000, people invested heavily in “.com” companies which were often formed without proper business models. Nowadays, people can come up with new ideas that can be recorded on a whitepaper for the entire world to read. Since these inventions are creative, millionaires invest in initial coin offerings (ICOs). Even if 1,000 of them contribute $10,000 individually, the entire project can raise $10 million within a short amount of time. For instance, web browser Brave raised $35 million in under 30 seconds last year.

Assia further explained that blockchain appears to be as transformative as the internet was. “Tesla made 2,000%, Facebook made 1,000%, Google made 1,000%. This is the same thing but earlier in the cycle,” said Assia.

After introducing iPods, iBook and improving the Mac OS from 2001 to 2005, Apple’s stock started increasing gradually. Assia stated that currently investing in crypto is a decision people have to make on their own.

“My long-term view is selling crypto now is like selling Apple in 2001,” said Assia, “You do it if you have to do it, you don’t do it if you don’t have to do it”.

Assia concluded by pointing out that once someone learns about blockchain technology, they want the entire world to use it. Rightfully so, blockchain provides transparency and decentralization, which when implemented in medical and engineering industries and electoral systems, can solve many problems. Blockchain advocates are working day and night to improve this technology to turn these ideas into reality somewhere in the near future. Until then, we have to wait and see which crypto companies will be worth the investment.

https://www.ccn.com/selling-crypto-now-is-like-selling-apple-in-2001-etoro-ceo/