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Founder & CEO of Digital Currency Group.

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Barry Silbert: Bitcoin Cash Hard Fork Was An Industry “Disservice”

Since the Bitcoin industry entered late-October, there has been an auspicious rise in search queries for the cryptocurrency, in spite of the downtrend that shocked crypto-centric investors worldwide. As reported by Ethereum World News, per Google Trends, the “Bitcoin” query has risen to a four-month volume high. The search term, “Bitcoin Cash,” also saw a notable explosion in volume. Tom Lee and Mati Greenspan, two industry savants, both commented on this trend, with the former calling the statistic “interesting,” while the latter noted that “we’re back.” And interestingly, mainstream media outlets have picked up on this renewed trend, recently covering the cryptosphere incessantly and through a variety of different mediums. CNBC, for one, recently began to call upon the executives, analysts, and researchers in the cryptosphere to make appearances on their television segments, which have become fairly infamous for their (sometimes inaccurate) coverage of Bitcoin. Last week, they brought on Barry Silbert, the man behind crypto-centric conglomerate Digital Currency Group (DCG), to speak on the current state of cryptocurrency affairs and its potential future. Bitcoin Cash Hard Fork Was An Industry “Disservice”  Discussing an industry hot topic, Silbert, who owns/manages stakes in this industry’s foremost startups, noted that the Bitcoin Cash debacle, which hasn’t even come to its final head just yet, is a distraction for investors. Elaborating on this point, clearly indicating that he isn’t a big fan of the fracas, but remains a Bitcoin proponent, the DCG chief noted: The fork is a distraction. The industry did itself a real disservice, but let me give you the other side of that — if Bitcoin emerges as the winner, it will have been battle-tested, as it has been challenged by competitive cryptocurrencies and internal development strife. Silbert: Death Of ICOs, Ethereum (ETH) Sell-Off, And Crashing Stocks Prompted The Crash Drawing the conversation back to this budding industry’s flavor of the month — the dismal market conditions — Silbert did his best to reason why Bitcoin, coupled with its altcoin brethren, underwent a jaw-dropping sell-off that caught investors with their pants down, as it were. He first explained that crypto’s largest investors are funds/groups with asymmetric risk appetites. Silbert added that these funds often hold positions in high-risk, often-tumultuous technology stocks, coupled with cryptocurrency holdings. So, seeing that lines that can be drawn between the recent sell-offs seen in equities and crypto, it is apparent that the macro market has been proding Bitcoin investors. The DCG head, one of the crypto industry’s foremost entrepreneurs then drew attention to the ICO market, which has been beaten and bashed by an SEC crackdown recently. Keeping in mind that ICOs primarily catalyzed 2017’s monumental bull run, the fact that “ICO market is completely unwinding” has evidently been a bearish catalyst for crypto assets. Further speaking on this purposed factor, he explained that as ICO-funded tokens have collapsed, startups have sought to liquidate their war chests, which were primarily filled with Ether to stay financially afloat, Last but not least, he noted that crypto hedge funds are finally seeing their first redemptions, putting further selling pressure on the cryptocurrency market, presumably through Bitcoin sell orders. Title Image Courtesy of Marco Verch on Flickr The post Barry Silbert: Bitcoin Cash Hard Fork Was An Industry “Disservice” appeared first on Ethereum World News.
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ICO Market is Dead: Crypto Investor Barry Silbert

The ICO market is dead, but that won’t hamper the inevitable growth of the cryptocurrency market, says Barry Silbert, the founder of crypto investment fund Digital Currency Group. Silbert said the frenzy for initial coin offerings in 2017 fueled the meteoric spike in bitcoin prices, but now the ICO market has been decimated, resulting in The post ICO Market is Dead: Crypto Investor Barry Silbert appeared first on CCN
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Barry Silbert Believes Bitcoin Cash Fork Is Distracting And Splintering The Crypto Community

Digital Currency Group’s Founder Barry Silbert has taken a position on the bitcoin cash fork, sating that it was a “disservice” to the industry. Silbert also appeared on CNBC “Squawk Box” to elaborate on the fork and the factors that could be influencing bitcoin’s depreciation. On the segment, Silbert responded to the presenter’s question on his thoughts regarding the fork. Silbert stated, “Distraction. The fork is a distraction.” He also agreed that the fork was harmful to the industry. On a bright note, he also mentioned that he believes that the competition generated by the fork may be beneficial for bitcoin. He stated, “If Bitcoin emerges as the winner, it’s been battle tested. It has been challenged by competitive cryptocurrencies, it’s been challenged by internal strife . . . Whether it’s called Bitcoin Cash or Ethereum or Zcash, whatever it may be. Whatever is the winner down the road, they will have earned that spot.” The interview also touched upon factors influencing bitcoin’s current price. Silbert explained that the decline is related to tech stock prices, capital flowing into the cryptocurrency space, and that investors are less interested in traditional tech stocks. Silbert also mentioned that the ICO bubble burst may be a factor. He mentioned, “What we’re seeing right now is the complete unwind of the ICO market. I think what propelled the price to highs late last year with this ICO frenzy. The ICO market is dead. Over.” Silbert continued that many projects have been able to raise funds and as a result, have been cashing out. As a result, there has been a great deal of selling and pressure to sell. An exacerbating factor is that crypto funds are also receiving requests from investors to redeem. He added, “There has bee a major shakeout across the board, but what I have seen over the past few weeks are deeper pools from institutions are not starting to get involved with the space. They are starting to lean in.” Silbert concluded the interview by stating, “All we can do is look past performance – bubbles and corrections. This is the fifth, sixth, or seventh time this has happened and we’re used to it. We view it as a fantastic opportunity.”
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Barry Silbert: Bitcoin Cash Fork Is a Distraction, Confusing for New Investors

Barry Silbert: Bitcoin Cash Fork Is a Distraction, Confusing for New Investors Barry Silbert, founder of Digital Currency Group, has weighed in on the current state of the cryptocurrency industry. Amongst other topics, the early Bitcoin investor and proponent commented on the recent Bitcoin Cash hard fork. Silbert: BCH Fork Was a “Disservice” to the… The post Barry Silbert: Bitcoin Cash Fork Is a Distraction, Confusing for New Investors appeared first on Altcoin Today.
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Barry Silbert: Bitcoin Cash Fork Is a Distraction, Confusing for New Investors

Barry Silbert, founder of Digital Currency Group, has weighed in on the current state of the cryptocurrency industry. Amongst other topics, the early Bitcoin investor and proponent commented on the recent Bitcoin Cash hard fork. Silbert: BCH Fork Was a “Disservice” to the Industry One of cryptocurrency’s early proponents and the founder of blockchain startup incubation and investment firm DCG has today been interviewed about all things crypto. Barry Silbert appeared on CNBC’s “Squawk Box” segment to discuss the Bitcoin Cash hard fork and factors playing into Bitcoin’s current price action. In response to a question from the presenters about the recent BCH split into Bitcoin Satoshi’s Vision (SV) and Bitcoin ABC, Silbert stated: “[It is a] distraction. The fork is a distraction.” The DCG CEO agreed with the panel that the industry harmed itself with the fork. However, he did go on to speculate that such challenges from rival currencies are beneficial to Bitcoin (or whichever coin eventually emerges as the most successful global digital currency): “If Bitcoin emerges as the winner, it’s been battle tested. It has been challenged by competitive cryptocurrencies, it’s been challenged by internal strife… Whether it’s called Bitcoin Cash or Ethereum or Zcash, whatever it may be. Whatever is the winner down the road, they will have earned that spot.” Related Reading: Analyst Claims Bitcoin to Test $2,970 is Likely in the Short-Term Institutional Investors Are Soaking Up the Fallout from the ICO Bubble Also during the interview, Silbert talked about factors weighing in on the current price of Bitcoin. Firstly, he mused that the crash in the price of tech stocks was related to the amount of capital entering the cryptocurrency space. He opined that tech investors’ appetite for risk falls when traditional tech stocks are down. Since the many investors in the likes of Apple or Amazon also like to speculate on digital assets, this seems plausible. Another factor dragging the price down for Silbert is the bursting of the ICO bubble: “What we’re seeing right now is the complete unwind of the ICO market. I think what propelled the price to the highs late last year was this ICO frenzy… The ICO market is dead. Over.” He went on to state that many of the projects raising huge sums of money last year have cashed out and that this is where the huge selling pressure is largely coming from. Exacerbating it is the fact that various crypto funds have started to receive redemption requests from investors, forcing them to sell. Absorbing a lot of this is institutional money. However, this takes time to translate into higher prices since much of it occurs at over-the-counter (OTC) trading venues. Although Silbert does cede that the exchange and OTC markets do impact each other, massive buys OTC do not immediately get reflected in the exchange price of Bitcoin: “There has been a major shakeout across the board, but what I have seen over the past few weeks are deeper pools from institutions are now starting to get involved with the space. They are starting to lean in.” A Familiar Story for Some? Finally, Silbert addressed the potentially multitrillion-dollar question: Where is the floor? Without being too specific, the CEO stated: “All we can do is look at past performance – bubbles and corrections. This is the fifth, sixth, or seventh time this has happened and we’re used to it. We view it as a fantastic opportunity.” Featured image from Shutterstock. Barry Silbert: Bitcoin Cash Fork Is a Distraction, Confusing for New Investors was last modified: November 27th, 2018 by Rick D.The post Barry Silbert: Bitcoin Cash Fork Is a Distraction, Confusing for New Investors appeared first on NewsBTC.
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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17. Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its […] Cet article Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust est apparu en premier sur Bitcoin Central.
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Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project
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BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
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Trillion Dollar Market Cap, Ethereum Chain Splits & Stellar Lumens Fund - Crypto News

In this video, Mattie gives you the latest bitcoin and crypto news. He talks about the ethereum chain splitting, BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars, and a new Stellar Lumens fund. This is a daily segment! ----------------------------------------------------------------------------------- CHECK OUT OUR PODCAST: https://bit.ly/2sZCAiF New episode every Monday and Friday! ----------------------------------------------------------------------------------- Check out Altcoin Buzz Ladies! https://www.youtube.com/channel/UCxulvI2C9wUvvDDNS7S35fA/videos ---------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: https://bit.ly/2GDAoCp Facebook: https://bit.ly/2wYksLB Telegram: https://bit.ly/2IAqDuI ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ --------------------------------------------------------------------------------- References: Leading Crypto Asset Manager Grayscale Launches Stellar Lumens Trust https://www.altcoinbuzz.io/crypto-news/finance-and-funding/leading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust/?fbclid=IwAR2AlAU_C_8Mm9CUm2hDci0pmdW3pvLzphS-BSy888SzDptaXMeifxZgJ1I Crypto Investment Firm Grayscale Launches Fund Dedicated to Stellar Lumens (XLM) https://www.cryptoglobe.com/latest/2019/01/crypto-investment-firm-grayscale-launches-fund-dedicated-to-stellar-lumens-xlm/ Grayscale Tweet https://twitter.com/GrayscaleInvest/status/1085904356635959297?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085904356635959297&ref_url=https%3A%2F%2Fwww.altcoinbuzz.io%2Fcrypto-news%2Ffinance-and-funding%2Fleading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust%2F Grayscale https://grayscale.co/stellar-lumens-trust/ BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars As Company Launches Cold Storage Trading https://dailyhodl.com/2019/01/17/bitgo-ceo-says-institutional-money-in-crypto-can-easily-reach-trillions-of-dollars-as-company-launches-cold-storage-trading/ Crypto’s Billion-Dollar Theft Problem Prompts Safer Way to Trade https://www.bloomberg.com/news/articles/2019-01-16/crypto-s-billion-dollar-theft-problem-prompts-safer-way-to-trade Ethereum Chain Splits, An Estimated 10% of Miners Stay on Constantinople https://www.trustnodes.com/2019/01/17/ethereum-chain-splits-an-estimated-10-of-miners-stay-on-constantinople Ethereum Upgrade – Constantinople Hard Fork Delayed https://www.altcoinbuzz.io/crypto-news/product-release/ethereum-upgrade-constantinople-hard-fork-delayed/ VanEck to Nasdaq: Bitcoin Market Structure Expected to Improve in 2019 https://www.newsbtc.com/2019/01/17/vaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019/ Nasdaq Tweet https://twitter.com/Nasdaq/status/1085522054559031296?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085522054559031296&ref_url=https%3A%2F%2Fwww.newsbtc.com%2F2019%2F01%2F17%2Fvaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019%2F -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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