Topic: [2019-09-09] A Billion People Will Be Using Crypto in 5 Years: Brian Armstrong - page 2. (Read 404 times)

And many other predictions have been stated that the bitcoin price would reach $50k. And none of that happened. I really do not see eye to eye with those predictors. Everyone can predict, either you are an expert or not. Perhaps, they predict the growth of bitcoin because they want more people to buy some bitcoin so its value increases. It is a fact that more people will start to use cryptocurrency, but I doubt that in five years, 1 billion people will start using it.

I think the main part comes from the fact that Bitcoin has lost a tremendous amount of interest amongst noobs due to its steep entry point. Yes, you can buy a fraction of a whole coin, but people aren't interested in that.

It's a psychological battle that makes decent exchanges become shitcoin exchanges. You can use $1000 to buy 0.15BTC or you can use $1000 to buy a giant stack of much cheaper coins with higher short term gain potential.

The same basically applies to Ethereum. It has grown beyond the point where noobs no longer care about it and have shifted to EOS and all other smaller tokens. Bitcoin is the least speculative coin of them all.

Hype looks a lot better and lasts a lot longer if you hype the thing most likely to wind up fulfilling it. You can be positive about BTC and all other manure you attempt to force on to people at the same time.

Presumably there's some sort of voiced policy about not being too positive about Bitcoin. I'd love to see a rundown of why other than it not doing what they wanted it do in terms of scaling.

I think Patrick Byrne (Overstock CEO) made a similar prediction about mass tokenization and a fundamental shift in the way securities issuance and trading is done. I was annoyed at the time because of the proliferation of scam tokens, but they're probably right. A billion people in 5 years seems a tad outlandish, but it's not outside the realm of possibility either.

 
If not for Bitcoin's reliability, no one would have any faith in altcoins and certainly not in any tokens built on top of them. It's the monument of stability underlying the entire economy. Deep down, even Brian Armstrong knows that. But Coinbase is in the business of capitalizing on hype, so we shouldn't be surprised when they chase altcoins and tokens.

Yes a billion people more pulled into the cryptospace to be tricked, scammed and broken after they lose everything. But some people will make it alive hopefully hehehe. The world's markets always end with winners and losers and the cryptomarket is no different. Everything is fair and everyone is fair game hehe.

Also, the cryptospace is already becoming cyclical like a traditional economy, I reckon. If you lose money now, you have a chance to make it in the next cycle.

With this very stat on the head of Mr. Armstrong, the coinbase is trying to cook something for the future no one knows whether good or bad only time will tell.

If a billion people do end up in crypto by then, which I don't believe in the slightest, it'll be due to the one thing Coinbase hate more than anything else - Bitcoin.

A Billion People Will Be Using Cryptocurrency in 5 Years: Brian Armstrong



The world of money is revolutionizing in front of our eyes. Cryptocurrency is creating new paradigms for alternative payment systems and decentralized banking. There is no doubt that the user adoption of various cryptocurrencies is rapidly increasing. The cryptocurrency industry has become more fluid as the borders between it and mainstream finance continue to blur. At the same time, regulators are spending long hours at work to regulate the booming circle of crypto-enthusiasts.

It could be one of the prime reasons why Brian Armstrong believes crypto-adoption will increase at an astronomical pace in the next half-decade.

The Coinbase chief executive was responding to a question about cryptocurrency’s international outreach at TechCrunch Disrupt in San Francisco, to which he predicted that 1 billion people would eventually be using cryptocurrencies in the next five years.

Armstrong believes a growing number of cryptocurrency companies will contribute to the overall crypto ecosystem growth. These companies, under a regulated environment, will issue their tokens backed by their respective market caps. In a way, these institutionalized digital assets will prove to be an alternative investment system in addition to equities.

“It makes sense that any company out there who has a cap table should have their token,” Armstrong said. “Every open source project, every charity, potentially every fund or these new types of decentralized organizations [and] apps, they’re all going to have their tokens.”

Coinbase, the U.S. company Armstrong heads, is one of the world’s largest bitcoin and altcoin exchanges by trading volume. They have only recently entered the U.K. markets to tap the growing crypto-user base in the country. Previously, it had been working actively in the U.S. and Europe, and it has amassed over 13 million users to date. That makes it 32.5 percent of the overall crypto-users — arguably, anyway.

Armstrong plans to expand Coinbase to more global territories. They have recently announced their plans to open new offices in Africa.

In the long run, Armstrong believes they will function like the New York Stock Exchange (NYSE), with “probably” millions of tokens in their portfolio.

“We do feel a substantial subset of these tokens will be securities,” he said. “Our approach has always been to be the most trusted [cryptocurrency exchange] and the easiest to use. So we want to be the legal compliant place where you can start to trade these tokens that are classified as securities.”


Source: https://www.ccn.com/a-billion-people-will-be-using-cryptocurrency-in-5-years-brian-armstrong/