Quotes, Week 24 ’18

Quotes, Week 24 ’18

Brad Garlinghouse, Jay Clayton, Martin Mühleise, Changpeng Zhao, and Jimmy Wales speaking on cryptocurrency and blockchain issues.

There's a lot of blockchain craziness, but there are three indicators of market winners. Blockchain will not disrupt banks,it will play an important role in the way our system works. It's a short-sighted view...Bitcoin is not the panacea we thought it would be...

Brad Garlinghouse, Ripple CEO

Bitcoin can replace a dollar, a yen or a euro, so we can not classify it as a security.

Jay Clayton, SEC Chairman

Cryptocurrencies can be used to trade in illegal drugs, firearms, hacking tools, and toxic chemicals. On the other hand, the underlying technology behind these currencies (blockchain) will likely revolutionize finance by making transactions faster and more secure, while better information on potential clients can improve the pricing of loans through better assessment of the likelihood of repayment. Regulatory frameworks need to ensure financial integrity and protect consumers while still supporting efficiency and innovation.

Martin Mühleise, Director of the IMF’s Strategy, Policy, and Review Department

Many people seems to think BTC price was flat before this year, as they appear to be on the graph. To the old timers, it's the same pattern every year. Just the units on the left is different.

Changpeng Zhao, Binance CEO

When I say something is a bubble, it doesn’t mean that I think there’s nothing of value there. It means there’s a lot of noise and there’s a lot of investment money flowing in, and a lot of things are being invested into what does not actually make sense. A lot of projects are going to fail, but we additionally have a lot of scams, a lot of theft, a lot of crazy things happening. So, I just ask people to be careful.

Jimmy Wales, Wikipedia co-founder

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