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Co-founder and executive chairman of Reddit

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Crypto-winter will give way to real innovation in the cryptocurrency industry, says Reddit Founder Alexis Ohanian

Alexis Ohanian, the founder of Reddit and Managing Partner at Initialized Capital hailed the cryptocurrency industry, stating that the “nascent” industry is still growing despite the prolonged “crypto-winter.” In an interview with Yahoo Finance, Ohanian discussed Reddit’s ongoing development, censorship within social media websites, regulation of the internet and the volatile cryptocurrency market. The interviewer, Yahoo Finance’s Andy Serwer described Ohanian as a “firm believer” in cryptocurrencies. Since the collective market cap touched $800 billion, marking the conclusion of the crypto-boom, the market has suffered under the bears. Its collective market cap has fallen to its present value of $134 billion. Acknowledging the “crypto-winter,” Ohanian said, “This is the crypto-winter, no doubt.” Ohanian referenced Coinbase’s Brian Armstrong, who said that the current market sentiments are the “spring of crypto innovations.” With this statement, Armstrong meant to suggest that the price depression weeded out investors and speculators, the ones that were in the market to make a ‘quick buck.’ According to him, the ones remaining are the “true believers.” These believers are the ones that will build the infrastructure for this industry, Armstrong said. While agreeing with Armstrong, Ohanian said, “They are actually builders, they are actually building the infrastructure that is going to take to really make this happen.” Despite some reservations about the industry,  Ohanian stated that these problems will be solved by the people that remain after the prices have declined. “Some of the smartest people I know in tech are working on solving these problems, they’re building companies that are built on the blockchain. The hype is gone, the fervor is gone, but I think that’s a good thing.” Ohanian is a long-time supporter of the cryptocurrency community, investing in Coinbase through Initialized Capital back in 2011. The Reddit founder added that he was willing to bide his time and allow the virtual currency industry to grow. He said, “We’re very comfortable having a long world-view on it, because this kind of an infrastructure shift will take lots of time, and we knew that going into it.” JP Morgan’s surprising entrance into the cryptocurrency realm with their dollar-backed, “JPM Coin,” was also mentioned by Ohanian. He added that Morgan’s CEO Jamie Dimon’s complete U-Turn from calling Bitcoin [BTC] a “scam,” to launching a digital asset was a sign of things to come. He stated, “These are just more indications that there is real innovation that is happening, now that all the wild speculation is gone.” Ohanian closed by offering a piece of advice to investors in the “nascent” cryptocurrency industry, “If you’re investing in it (cryptocurrencies) in the first place, you really should’ve been thinking long term.” Earlier in 2018, the Reddit founder had made a bold price prediction, stating that Bitcoin would reach $20,000 while Ethereum [ETH] would trade at $15,000 by the end of the year. However, the dawn of the crypto-winter proved him wrong. The post Crypto-winter will give way to real innovation in the cryptocurrency industry, says Reddit Founder Alexis Ohanian appeared first on AMBCrypto.
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Brutal Bitcoin Winter is Great for Crypto Industry: Reddit Founder Alexis Ohanian

Bitcoin investors should not be discouraged by the brutal Crypto Winter because the mass purge is actually good for the long-term health of the industry. That’s the observation of Coinbase investor Alexis Ohanian, better known as the founder of social media network Reddit. ‘This Is the Spring of Crypto Innovation’ Ohanian — the husband of American tennis star Serena Williams — admits that bitcoin is experiencing a prolonged market slump. However, despite the Crypto Winter, he says now is actually the “spring of crypto innovation.” Why? Because the people that remain in the industry after the market crash are die-hard enthusiasts, The post Brutal Bitcoin Winter is Great for Crypto Industry: Reddit Founder Alexis Ohanian appeared first on CCN
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Reddit’s Alexis Ohanian Believes Blockchain Gaming is the Next Big Use Case Application for DLT

Alex Ohanian is the co-founder of Reddit. He also happens to co-own Cloud 9, which is amongst the most valuable esports teams globally. He has a strong belief that gaming powered by the blockchain will be huge. He shared his thoughts recently in a tweet while sharing an article by the co-founder of Horizon Blockchain Games Peter Kieltyka. This is gonna be big.A New Dimension of Gaming by @peterk https://t.co/EQCHCw1pzq — Alexis Ohanian Sr. (@alexisohanian) November 29, 2018 It is the first time a major backer of esports has publicly said that blockchain gaming would be huge. Ohanian made an investment into the Series A round for Cloud9. The round also saw Joe Montana, the Hall of Fame quarterback and outfielder Hunter Pence, both from the San Francisco Giants. What The Article Had To Say Kieltyka broke down the value proposition of bringing blockchain tech into the video game world. He talked about true digital asset ownership, mass collaboration, provable fairness, interoperability, and play to earn gaming. Here is a bit more detail on these concepts: • True Digital Ownership With the blockchain, it is possible to create a world where players have full ownership of each card, coin, and collectible even when they leave the original game. The digital assets can be placed in a digital wallet, which will give players full control over them. This could lead to a world of interoperability in gaming besides the major economic potential. Players will be able to buy and sell their assets when and how they want. • Provable Fairness By its nature, the decentralized world is immune to malicious players. Those who use them consider DApps trustless. This is because each DApp is self-governing. This helps to ensure that the rules are open to all. It is impossible to forge a move with the blockchain, which will ensure provable fairness to gaming. • Play To Earn With smart contracts, players can take part in games where they earn assets, which they can then sell for crypto or fiat. • Interoperable Economies The blockchain makes it possible to create a standardized economy where apps can build a network of goods, rewards, and players. Thus, players are able to move between the gaming economies with few issues. The in-game items are tokenized items that can be traded or converted for another crypto. In essence, the entire gaming world could be connected by the blockchain. • Mass Collaboration The value of the blockchain games is at the protocol level. These games will be open source with the value being in the in-game items. This will allow players to modify games in new and interesting ways. What Those In The eSports World Feel While there is a lot of enthusiasm in the crypto world about the potential that blockchain tech hold for gaming, those in the esports world are skeptical. They do not believe that it has any potential. In fact, many think it is merely a money grabbing scam. Only time can tell if the goals of many blockchain gaming organizations will go mainstream. Despite this, they have at least begun the conversation of in-game assets and their true ownership.
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Does Bitcoin And Crypto Market Need To Crash To Get Better? Reddit’s Alexis Ohanian Thinks So

Critics and experts of cryptocurrency alike have their ideas about what could make the market work in their favor. However, Reddit founder Alexis Ohanian recently was interviewed by CNBC, saying that he does not see the market reaching greater maturity and stabilization without having a crash. This coincides with the seemingly continued crash that the market has gone through in the last few days. To create a stronger future for cryptocurrency as a whole, the founder believes that software development and a more supportive infrastructure are key. Furthermore, by allowing the market to reach a crashing point, he believes that the weaker tokens would filter out, like the ones that are in for a fast buck. The innovations of the community right now are making it possible for the cryptocurrency community to survive for the long-term. Even though the blockchain technology proposals have not been as big in quantity, Ohanian believes that they have a greater likelihood of success than the projects that came around last year. Bitcoin has been going through some troubles in the last few days, bringing in the biggest losses since March 2018. However, despite coming down to $5,202 on November 15th, the trading seems to have picked up slightly. According to CoinMarketCap at 10:15am PST, the current price of Bitcoin is $5,532.24, though some investors believe that this downturn has to do with the recent BCH fork, like Brian Kelly. Kelly is the founder and CEO of BKCM. Others are as bold as to suggest that they saw this coming all along, like Mati Greenspan from eToro. Greenspan said, “The movement we saw today seemed to be the run-of-the-mill volatility surrounding Bitcoin and a breakout that’s been weeks coming….It’s difficult to say where it ends. No one can really predict.” Clem Chambers, a Forbes contributor, also noticed the connection with the spike in bonds lately. He commented, “The obvious culprit causing this dump is Bitcoin Cash, the ‘wannabe’ Bitcoin usurper, which forked from Bitcoin last year. It is forking again and there are competing forks and all sorts of conniptions are expected. It sounds plausible this is causing the move but the fact the bond market spiked at the same time suggests something else is going on to me.” The head of trading at Asia Pacific of Oanda Corporation, Stephen Innes, said the crash was worse than originally anticipated. It is clear that the uncertainty of which Bitcoin chain will take the dominant role has shaken up the cryptocurrency community. Still, Ohanian believes that this is just a necessary step to bring the focus to what is important.
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Reddit’s Alexis Ohanian Pegs 2018 Crypto Bear Market as Being Great for Blockchain Innovation

Ohanian, a co-founder of Reddit has a belief that the dropping prices of crypto seen in 2018, is good for the blockchain world. It will make it possible to get work done with fewer temptations or any distractions. Ohanian Loves Crypto Alexis Ohanian is one of the most renowned bulls in the crypto world. He believes the Bear market is excellent for innovation. He created Reddit from his dorm room in 2005. After a few years, the site became quite popular with the Bitcoin community. This made it possible for the innovator to observe and learn about the tech and the community. Ohanian was able to develop a keen interest in crypto and the supporting tech. In 2013, he took a hands-off approach to Reddit. Instead, he gave most of his time to a venture capital fund called Initialized Capital. The early stage venture firm invested in Coinbase and various other startups in the crypto space. Recent Interview He recently gave a joint interview with Garry Tan, a partner at Initialized Capital talking about crypto. He also talked about what factors they consider when picking a startup. First, they talked about how they chose a startup in the crypto world. Tan said that they evaluate crypto and non-crypto startups in a similar manner. He said that if a company showed promise compared to the rest, it made little difference to them whether it was crypto related or not. Ohanian was in support of this. However, he added the venture firm had a belief that the blockchain offered cheaper, faster, and better services. Current Market Conditions The pair were also questioned about the current conditions of the market. In response, they both said that the situation might be a phase or permanent. The dual agree that prices would eventually start to rise. According to him, the push upwards would be motivated by real use cases. Instead of concentrating on the falling prices, the pair believed the focus should be on the positive aspects of this bear market. Tan said that bursting the 2017 bubble would make it possible for developers to pay more attention to important aspects. For instance, they could focus on real use cases than prices of tokens. According to Ohanian, when this happened last, BTC fell from $1000 to just $250. This lasted for a few years until around 2017. He also said the price flux had forced most speculators to leave the crypto world. Thus, this would allow the crypto world to grow. As a result, those who really want to build great projects, not pushed by quick earnings would work closely together. However, Ohanian never talked about his prices call for ETH in early 2018. In May, he had said that ETH would reach $15,000 by the end of the year. However, things did not work out as he had planned; the price has remained at around the $213 mark with no signs of any surge.
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Ravencoin Grows 20% And Continues to See RVN Token Surge in the Crypto Market

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Bitcoin [BTC] Futures in good stead against its Spot equivalent: Bitwise Report

Bitcoin [BTC] Futures were thought to be a snippet of the overarching cryptocurrency market, though meager in comparison to the larger spot market. A recent report from Bitwise Asset Management, the crypto-centric investment firm has stated otherwise. In a March 20 report presented to the United States’ Securities and Exchange Commission [SEC], Bitwise analyzed the Chicago Mercantile Exchange [CME], and the Chicago Board Options Exchange, with ten prominent cryptocurrency exchanges’ in terms of their trade volume. Prior to shedding light on their Futures versus Spot findings, it must be noted that the report revealed that 95 percent of the trading volume of unregulated exchanges were seemingly “fake and/or non-economic wash trading”. Taking into account this disparity, the percentage of futures volume to their spot equivalent increases from 1.51 percent to 33.33 percent. Reported Spot volume totaled $6 billion, but after removing the “suspicious exchanges”, the actual volume recorded dropped to $273 million, in comparison to the futures market volume of $91 million. Furthermore, the increase in futures’ volume as a percentage of the spot market has been steadily increasing. From November 2018 to January 2019, the futures market was just over 15 percent, and almost doubled in February 2019 to 33 percent. Since the Futures contracts were approved in December 2017, only on two occasions did the Futures volume, in comparison to the Spot market, shoot above 20 percent; this was in May and August 2018. Futures Volume expressed as a percentage of their Spot Equivalent In terms of their stand-alone trade volume, the CME and the CBOE are in good stead against the world’s top cryptocurrency exchanges. The daily volume the CME, which brings in $84.82 million, ranks second behind Binance’s $110.5 million and ahead of Bitfinex, which records $38.06 million in daily trade volume. The CBOE also fairs well, taking the ninth spot on the ladder, ringing in $6.12 million in daily trade volume. Gemini takes the eight spot with $8.11 million and itBit caps off the top-10 with $5.58 million in daily volume. Notable, among the top-12, eight exchanges are registered within the United States. Despite the CBOE’s comparative success against the spot exchanges’, it has not been performing well against its cross-town rival, the CME. This slump forced the CBOE to delist their Bitcoin Futures [XBT] for March 2019. However, the XBT futures that are yet to expire later in the year will not be off-loaded prematurely. Bitwise also points out that the CME Futures Price tracks the Global Spot Price based on an arbitrage model. Given below is a chart attesting the same: Arbitrage between the CME Futures price and the global Spot price The post Bitcoin [BTC] Futures in good stead against its Spot equivalent: Bitwise Report appeared first on AMBCrypto.
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How Cryptocurrency Trading Volume Fiasco Can Lead to Bitcoin ETF Approval

The SEC has held the ETF approval for Bitcoin and Cryptocurrency for a couple of reasons. The most significant reason for the same has been the unregulated marketplace. While decentralization in Bitcoin is an attribute that makes it an ideal asset class, the market places or Exchanges that provide for conversion of FIAT to Cryptocurrency is still controlled by independent entities. A recent report by Bitwise Asset Management published by the SEC inferred that more than 95% of the cryptocurrency volume is being faked. Hence, according to that, the ‘actual spot volume’ on cryptocurrency exchanges is a little above $270 million. Moreover, the reported volume of CME and Cboe Bitcoin Futures is more than one-third of the ‘actual spot volume’ estimated by Bitwise. According to Bitwise Asset Management, This is good news because it means CME— a regulated, surveilled market— is of material size, which important for an ETF. The case of a Bitcoin ETF Approval Now CME Bitcoin Futures reported a spot trading volume of $85 million. Moreover, according to Bitwise Asset Management, the actual trading volume of the Crypto-to-FIAT Exchanges is around $273 million. Hence, according to this statistic the Futures Trading Volume of CME alone accounted for 31.1% of the ‘Actual Exchange Volume.’ Moreover, there are other Bitcoin Futures market active in Europe and Japan as well. Hence, going by the above statistic, it can be said that the institutional investment might be in parity with the unregulated investment in Bitcoin. However, the Exchanges have reported total spot volumes total to the tune of $6 billion. This can necessarily raise doubts on its demand being higher than $100 billion. However, it does not directly affect the total market capitalization of a cryptocurrency.   Parity Between Spot Trading of Bitcoin and Gold The spot trading volume of Gold is 0.55% of its total market capitalization, while according to Bitwise statistics spot ‘actual spot trading on Bitcoin is 0.39%. If the CME Futures volume is included in this data, the percentage will increase to 0.51%. The OTC trading volume on most exchanges is also not added in the Exchange Data. All this suggest that the institutional investment in Bitcoin is considerably more significant than one expects. It is not only healthy in volume but also agrees statistically with the closest relatable asset class, i.e., Gold. Hence, a new form of informational mechanics for the trading of Bitcoin and Cryptocurrency in regulated Exchanges could alleviate the doubts around the Bitcoin ETF approval.   The post How Cryptocurrency Trading Volume Fiasco Can Lead to Bitcoin ETF Approval appeared first on Coingape.
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Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA

Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. […] Cet article Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA est apparu en premier sur Bitcoin Central.
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