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Bitcoin [BTC] value has nothing to do with institutions – Daniel Masters

Joel Mathew

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Daniel Masters from Coinshares says Bitcoin value has nothing to do with institutions
Source: Flickr

Former JP Morgan Global Head of Energy Trading and Coinshares’ Chairman, Daniel Masters recently shared his views on the Bitcoin rally expectations and current fall of Bitcoin on CNBC’s Fast Money. He elaborates his views on cryptocurrency and blockchain technology. He believes that taxonomy of all the cryptocurrency related objects is a necessary step for a clearer market.

Coinshares is a company that analyzes and research on the cryptocurrency market. They are known for publishing strategies for private investors.

He gives his personal opinion saying it is very early to judge Bitcoin’s growth prospects. The energy trading industry that he worked for before, he watched it for around 15-20 years and saw it develop from industrial logistics business to high-frequency trading business.

He said that 3 years back when cryptocurrency was very small, he had launched Bitcoin Tracker One. Bitcoin Tracker One is an exchange-traded node [ETN] designed to provide access to investors regarding the returns of the underlying asset.

He says:

“We need to do a taxonomy for all the assets and token. We need to see the structure continue to build, we need to see the custody, solutions and provided we need performance measures.”

He also mentioned that issue of custody can be solved as the institutional presence in cryptocurrency increases. Many platforms have come up with new institutional products and that’s what institutions want from them.

Daniel also said that none of the national jurisdiction can really kill cryptocurrency as it’s more of a global phenomenon.

He says that China and the rest of Asian countries are the major market regulators. He also believes the transformation of China occurred due to the cryptocurrency adoption.

A twitterati says:

“Maybe it is down because the mainstream keeps predicting it going up – tends to happen in the opposite direction…”

Benjamin, a Twitterati says:



“Great commentary tonight Daniel Masters. We are early!”

Another Twitter user says:

“You guys are just entertainment and people think you’re actual news. Please stop. You’re making every one of your viewers dumber. You’re hurting America!”

Benmr says:

“Idiots been saying this since January”





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Joel Mathew is a full-time creative content writer for AMB Crypto. He's an English honors graduate from Christ University. He's skilled in research analyses and produces valuable content in the field of blockchain and cryptocurrency.

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Bitcoin

Bitcoin [BTC] will be vulnerable to quantum computing if we’re not prepared, says Andrew Poelstra

Biraajmaan Tamuly

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Bitcoin will be vulnerable to Quantum Computing without preparation, indicates Blockstream Researcher
Source: Pixabay

Security is an important aspect of every crypto-asset and Bitcoin [BTC] is often dragged into debates on whether the blockchain is protected from hacks or vulnerable to certain technological developments.

In a recent episode of whatbitcoindid, Andrew Poelstra, the Lead Researcher at Blockstream, was asked about whether Quantum Computing was a genuine threat to the existence of some Bitcoin on the current blockchain.

Poelstra indicated that the threat was evident, but it was still a long way off from being practical in the current technological field. He mentioned that he expected quantum computing to come into play against the security of Bitcoin in “maybe less than 15 years” and said that he would be really surprised if “it was less than 25 years”.

Poelstra said that it was necessary to take actions in the current scenario for post-quantum systems because he believed that without any preparation for the impending technological aspect, it did not matter how the future rested. Without preparation, the community was going to be blindsided, he said.

He stated,



“It’s important now that we started working on standardization and exploring ideas and exploring what Bitcoin is going to look like in a post quantum world but in the current scenarios there were no candidates for post quantum schemes that would be reasonable to deploy them in a Bitcoin.”

The introduction of quantum computing in the cryptocurrency scenario was a topic which was widely debated among other personalities in the community as well. Mati Greenspan, a prominent eToro Analyst, had started earlier this year that the threat only existed to Bitcoin if quantum computing was available to only one person.

If people or users collectively upgraded to quantum computers, then the Bitcoin miners would upgrade among themselves to protect it from an alleged 99% attack, which is possible with a quantum computer.





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