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BitMEX CEO talks about millennials and future of Bitcoin, BitMEX

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BitMEX's CEO talks about millennials and the future of Bitcoin and BitMEX
Source: Pixabay

BitMEX is one among the largest cryptocurrency exchanges which provide perpetual contracts for Bitcoin and offer leverage trading of Bitcoin contracts up to 100x. Arthur Hayes, the CEO of BitMEX, spoke on the Venture Coinist podcast and discussed his vision for BitMEX and how he saw the Bitcoin ecosystem evolve.

Arthur Hayes addressed the ads that they put out on the tenth anniversary of Bitcoin and the BitMEX Research department. He said that the bedrock of BitMEX and other cryptocurrency platforms rested on a well-functioning Bitcoin ecosystem. He added that since they did not have any banks or other financial institutions which needed to provide permissions, they relied on Bitcoin. He further added that it underpins their business.

Hayes elucidated,

“We are dependent on Bitcoin to allow us to be financial creative in the products that we bring to the market, so it behooves us to be supportive of the ecosystem, whether its educating people through research platform that has nothing to do with products that we offer and more to do with Bitcoin blockchain and other technological things that are happening in the ecosystem.”

Speaking about his vision for BitMEX, Hayes explained that millennials were comfortable with the digital form of money and that the demand for analog money would eventually fall. Hayes also added that the “baby-booming generation” in the 70s and 80s were coming into “asset-earning ages”.



Addressing Bitcoin and the current generation, Hayes said that “they were baby-booming generation” and that millennials and the Gen-Z would be the generation that would ride the shift from analog money to digital money. He continued that this was the reason why stocks and bonds were traded from 9-to-5 for five days and cryptos were being traded 24×7.

Moreover, Hayes said that the next generation, millennials or Gen-Z would be comfortable with digital assets in the near future and that Bitcoin would gain more traction in the next 10-20 years.





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Bitcoin

Bitcoin [BTC]: 60 Minutes segment airs on CBS; market relieved over no FUD content

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Bitcoin [BTC]: 60 Minutes segment airs on CBS; market relieved over no FUD content
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Bitcoin [BTC], the largest cryptocurrency in the world has gained a lot of mainstream media attention over the years. However, most media houses have often failed to deliver the message to the masses, with the main reason being lack of research and knowledge of the subject. The cryptocurrency was thrown back into the spotlight after CBS released a teaser to their latest “60 Minutes” episode, unveiling a few influencers of the industry, speaking about their experience.

The episode, which released on 19 May 2019, immediately grabbed the attention of the cryptocurrency space, with a majority wondering whether the media channel would nail it or fail it. Interestingly, there was a poll conducted on Bitcoin Talk, where the question was ‘CBS 60 Minutes 5/19/19 on Bitcoin. Will it cause FOMO or FUD?’

Source: Bitcoin Talk

Source: Bitcoin Talk

60 Minutes, broadcast on the CBS Network is one of the oldest and most-watched American television programs, with the focus being “the real story on America’s most prevalent issues”. According to CBS, 60 Minutes has an average of 11.4 million viewers and about a million people who listen to its radio broadcast and podcast.

The show titled ‘Bitcoin’s Wild Ride’ aired hours ago, and covered the story of Charlie Shrem, the founder of BitInstant, Laszlo Hanyecz, the famous pizza guy who is recognized as the first person to make a real-world transaction with Bitcoin, and Marco Streng, the CEO of Genesis Mining. The segment also had Neha Narula, the Director of Digital Currency Initiative at MIT Media Lab, answering questions pertaining to the coin, and Lael Brainard, a member of the US Federal Reserve, speaking about why not Bitcoin.

The show was briefly explained by a Redditor, EternitySphere,

Source: Reddit

Source: Reddit

Unlike other mainstream Bitcoin segments, this segment was well-received by the Bitcoin community after a majority agreed that it did not spread FUD and that it was an unbiased episode, contrary to expectations. However, there were few concerns pertaining to a lack of content, with some believing that it failed to explain key information; which includes how it derives it value, albeit there was no FUD.



Franky1 commented on Bitcoin Talk,

“[…] next was the whole describing mining segment involving genesis mining.(facepalm) ASIC’s do not store records(asics have no hard drive).. so saying the mining done by genesis is the location where records are kept can be misguiding people to think genesis mining are ‘the bank’ and user software just ‘watches the numbers and letters'[…]”

Source: Reddit

Source: Reddit

Rdbase also remarked on the Bitcoin forum,

“The whole segment was about charlie shrem known as bitcoin moses and his fall into bad luck with taking a payment which was used to buy illegal things on the dark web. It did have some good points but overall it was just directed towards the public view about it. As a skeptical thing to use and banks were safer with its fiat financial system”





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