Circle CEO on BTC: Nobody Will Be Using Bitcoin in 5 to 10 Years - page 2.

DimensionZ

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Shit, did I leave the stove on?

Quote from: European Central Bank on December 08, 2016, 08:24:31 PM

for real but they said they're going to continue using bitcoin for settlement and they'll host a bitcoin wallet still. it's the btc/fiat buying and selling that's gone.

But is there a statement posted anywhere that explains their decision behind this change? I couldn't find anything on that support page on Circle. I would assume their business plan with Bitcoin has gone south and they have lost customers or something and it's not profitable any more to invest in the Bitcoin infrastructure. Or is there something else? I would love to read an official statement about this.

Edit. I found it: https://blog.circle.com/2016/12/06/spark-new-markets-app-messaging-and-bitcoin-changes/

In a nutshell, Circle are building fiat-to-fiat social payment platform that is going to run on Blockchain technology.

Yeah guys, vanilla Bitcoin Blockchain is dead. The future is fusion.

European Central Bank

legendary

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for real but they said they're going to continue using bitcoin for settlement and they'll host a bitcoin wallet still. it's the btc/fiat buying and selling that's gone.

DimensionZ

sr. member

Activity: 350

Merit: 251

Shit, did I leave the stove on?

Damn Circle abandoned Bitcoin for real? I have been out of the loop for a while and just noticed the big change. I couldn't completely understand what Circle are going to do now. It says on their site that they are going to move different currencies around with no fees whatsoever and they are developing a social payment app. So does this mean that Circle won't be a fiat exchange any more and will transition to being a fiat payment processor?

RawDog

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Quote from: European Central Bank on December 07, 2016, 11:13:32 AM

it's over now. the option was shut off at the same time as the announcement.

I assume you can sell what's in your wallet there and that's it.

Sad to see yet another good company abandon its support for Bitcoin. With the high fees and huge backlog, I don't see other companies sticking around either. Maybe if there were a pending solution. But, it is 100% sure as long as Maxwell is in control, the backlog will grow. LN isn't even going to be ready for another two years at best.

European Central Bank

legendary

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it's over now. the option was shut off at the same time as the announcement.

I assume you can sell what's in your wallet there and that's it.

Denker

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https://www.reddit.com/r/Bitcoin/comments/5gxy5e/new_ventures_of_old_bitcoin_circle_phasing_out/

https://support.circle.com/hc/en-us/articles/217972003

As many of us here already expected, Circle is going Blockchain now!
Buying and selling Bitcoin with Circle will be over soon.
So if you have an account with them think about what you're going to do!

Denker

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Quote from: chichidori on November 26, 2016, 12:54:48 AM

Nobody uses it five years ago and now its worldwide as long as their is a market for bitcoin it wont die out that easily, we speculate a lot when it come the price and usability of bitcoin.

To me it looks like he is desperate to get some attention.
Maybe his company and the business model isn't working out as expected.
Wouldn't be the first company having tough times.I mean look what Coinbase is doing the last 2 years and how much their repuation has declined in the space.Imo Circle isn't doing that much better.
That could be a reason why such companies start spitting on Bitcoin now.

chichidori

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Nobody uses it five years ago and now its worldwide as long as their is a market for bitcoin it wont die out that easily, we speculate a lot when it come the price and usability of bitcoin.

Herbert2020

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many other bigger guys before this douchbag claimed bitcoin to be dead in a couple of years with different numbers in mind and until this day none of their crap has came true so far. and reading what he had to say i have to say he has no idea what he is talking about and also it is possible that these crappy news sites like this one and others changed the interview too!

jyakulis

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J

We need to cater to criminals more. And the minting process needs revision. What do I care though? Never been one for being the loudest in the room...

Victorycoin

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Quote from: thejaytiesto on November 25, 2016, 12:00:31 PM

I think Circle is going to go bankrupt very soon and they know it, so they are mad at bitcoin and now they are shitting on it. They keep losing customers because they keep annoying them by blocking their money and so on. I understand that they are trying to be a company that complies with strict regulations but it seems people that want to use bitcoin want to avoid all of that.

I think you have a point there, sudden outburst like that are meant to tag a dog a bad name, just so it would be hung. He could not have ventured into a bitcoin company without doing due diligence or was it for the fun of it? So it is questionable why the sudden turn? At any rate, what gives any currency value is people's willingness to accept it as means of payment and since bitcoin is already having such a huge community, I doubt the absent of one person would in any way mean end of the road for bitcoin.

bitjoin

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If you notice some of the leading players in the industry seem to say stuff like this when we are very toppy. He said this statement right around $760 iirc or at the start of the way back down to $700.

eternalgloom

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Some companies are just getting into Bitcoin right now, I think it's still too early to make a statement like that.
Bitcoin has a lot of potential, I can't imagine what will happen if we see another economic crisis.

thejaytiesto

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Quote from: Wind_FURY on November 20, 2016, 10:26:34 PM

The source of the statement is from this article http://www.newsbtc.com/2016/11/20/circle-ceo-nobody-will-using-bitcoin-5-10-years/

So I ask this. As the growth of the darknet market place every year keeps going higher and higher, the possibility of it becoming a multi billion market place is not too far to reach. What currency will it use if not Bitcoin?

Does the CEO of Circle knows what he is talking about at all? Most of the so called "experts" in the Bitcoin and blockchain world do not know what they are talking about because it is all still new.

For me the people to listen to about blockchains are Peter Todd, Gregory Maxwell, Adam Back, Luke-Jr and there might be some names I have forgotten so please post them in here.

I think Circle is going to go bankrupt very soon and they know it, so they are mad at bitcoin and now they are shitting on it. They keep losing customers because they keep annoying them by blocking their money and so on. I understand that they are trying to be a company that complies with strict regulations but it seems people that want to use bitcoin want to avoid all of that.

Milkduds

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Some of these established sites have other agendas in play and manipluting the markets and perception seem to be ongoing issues with bitcoin in general.
No one can see that far down the line for bitcoin as it has yet to be positively connected to one thing in the market yet! Its pure speculation for the most part on the Chinese,India or future regulations.
Find the more power some one has in the bitcoin community the more they are willing to partake in swaying public opinion one way or another.

iamnotback

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Quote from: Wind_FURY on November 20, 2016, 10:26:34 PM

Circle CEO on BTC: Nobody Will Be Using Bitcoin in 5 to 10 Years

The source of the statement is from this article http://www.newsbtc.com/2016/11/20/circle-ceo-nobody-will-using-bitcoin-5-10-years/

Does the CEO of Circle knows what he is talking about at all?

I think he will end up being correct:

Quote from: iamnotback on November 24, 2016, 03:24:28 PM

Quote from: Fakhoury on November 24, 2016, 01:35:47 AM

Quote from: Fakhoury on November 17, 2016, 04:55:15 PM

But for iamnotback, where does he sees Bitcoin in the long term (10 - 15 years), for price and technology ?

Waiting to hear from you

I am biased because I think I will kill Bitcoin in a few years.

But as for crypto-currency, I see it widely adopted in less than 15 years. Probably less than 6 more years.

shamzblueworld

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Well I'm no expert but I know this for a fact that no one can be certain about what's gonna happen in 5 years from now. And I disagree with his claim, I don't think it will die this quickly. The price can vary, maybe it will go up or down or stay about the same but I don't think it can vanish so quickly.

DimensionZ

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Shit, did I leave the stove on?

I don't want to comment on his words because he is an Internet entrepreneur and technologist and he surely knows his stuff. Plus belittling a CEO is outside of my pay grade anyways Grin

However if high-ranking people like him think that Bitcoin will not survive in the long-term, I suppose the issues and limitations lie within the current technology itself. Maybe he knows something we don't know. I would take his words with a grain of salt, though.
We must not forget that the next big thing might be around the corner. Technology never stays stagnant and new developments might emerge soon. I don't think we should invest all of our eggs into the Bitcoin's basket Wink

MingLee

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Ballsy statement to say something like that. Maybe they just have enough power now that they can instill themselves as a large placeholder over any new cryptos popping up?

I haven't read the quote, so I will assume for this that he might be talking about the current iteration of Bitcoin, namely 1MB blocks, 10min transaction times, and so on. As such, he might have a point, but we don't know for a fact.

CraigWrightBTC

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I don't think so, because today there are many countries and companies that supports and making investment into bitcoins and other digital currencies and there are many developers of coins who made innovation into them, include bank Swiss and it is mean progress of bitcoins and digital currencies growing bigger, if It still is like this in 5 to 10 years will there are many people be using bitcoins.

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