Jimmy Song news

Bitcoin Educator, Developer and Entrepreneur/PGP Active since 2012.

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Bitcoin [BTC] and Warren Buffet’s possible embrace a decade too early, claims Jimmy Song

Bitcoin and the larger cryptocurrency community is looking forward to having a flag-bearer-in-chief representing the decentralized currency to perhaps, the most outspoken anti-crypto investment pioneer in history. The Warren Buffet – Justin Sun dinner, worth $4.5 million, would be an interesting event, to say the least. However, some within the cryptocurrency space have dismissed the event as a waste of time. Jimmy Song, a BTC developer and author of Programming Bitcoin, stated that Buffet’s affair with cryptocurrencies is “10-15 years” off. Song’s opinion of the Berkshire Hathaway CEO’s probable flip towards cryptocurrencies at the hands of Tron’s Sun is not enticing due to the adoption fervor and the mainstream attention that will be ushered in, but because that it should not be the focus of the industry at the moment. Emphasizing the use-case of Bitcoin as an investment diversifier, Song stated that the prime focus should be on expanding BTC as a store of value. He highlighted three, among many other key channels as a VC funding option who are “tired of the ICO/blockchain hype” to balance out the portfolio of pension funds and family offices that peg stocks and real estate as being too “frothy.” Song’s tweet read, IMO, it’s about 10-15 years too early for Warren Buffet. The people to convince right now are VC’s who are tired of the ICO/blockchain hype, pension funds that want portfolio diversification and family offices that think real estate and stocks are frothy. — Jimmy Song (송재준) (@jimmysong) June 3, 2019 Buffet’s attitude towards cryptocurrencies mirrors the CEO’s attitude towards technology stocks. The Oracle of Omaha’s persistent avoidance of tech stocks was because he did not understand the sector, and if Buffet doesn’t understand, Buffet doesn’t invest. Having called the over $140 billion financial asset Bitcoin “rat poison squared,” and a “delusion” which only “attracts charlatans,” it can be speculated that Buffet’s ill-will towards the cryptocurrency industry emanates from a lack of understanding of decentralized currency and the foundation of blockchain technology. All hope is not lost however. Buffet and Berkshire Hathaway flipped their opinion on technology stocks by purchasing shares in Amazon [AMZN] quite recently. Hence, a cryptocurrency embrace could also be forthcoming, and it could occur in the window cited by Song. With time thus, Buffet could pull a Jamie Dimon and launch a Berkshire Hathaway coin. The post Bitcoin [BTC] and Warren Buffet’s possible embrace a decade too early, claims Jimmy Song appeared first on AMBCrypto.
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Developer Jimmy Song Calls Bitcoin The First Digitally Secure Property, Good For Human Freedom

Developer Jimmy Song Calls Bitcoin The First Bearer Instrument A bearer instrument, or bearer bond, is a type of fixed-income security in which no ownership information is recorded and the security is issued in physical form to the purchaser. Unlike normally registered instruments, no record is kept of who owns bearer instruments or of transactions […]
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Ironing out the Facts: Joe Lubin and Jimmy Song’s dApp Bet

Ethereum and ConsenSys co-founder Joe Lubin’s bet with Bitcoin educator Jimmy Song’s bet has been subject to widespread debate. Song, a critic of Ethereum and dApps, bet Lubin that Ethereum dApps wouldn’t reach 10,000 daily active users on five different dApps by 2023. IDEX explains the nuances of the bet and why the determinants set mayRead MoreRead More. The post by Ashwath Balakrishnan appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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Bitcoin [BTC] is ‘first bearer instrument that can be stored digitally’, says Jimmy Song

Bitcoin’s [BTC] upward market movement had riled up the cryptocurrency industry with several proponents of the space and users calling the phenomenon as Bitcoin’s second coming. This build-up in momentum was courtsey of BTC’s price hold near the $8,500 mark, with help from the cryptocurrency breaching the $9,000 mark, albeit for a little while. Many supporters of the ‘king coin’ have also quoted other qualities of Bitcoin that make it a better asset than conventional ones with the latest example being Jimmy Song. The well-known Bitcoin influencer and developer had recently tweeted: “Bitcoin is the first bearer instrument that can be stored digitally. This means there is now property that can be secured digitally. This means property rights for Bitcoin can’t be restricted very easily. This is good for human freedom. We have a tool to fight oppression.” Song’s first argument lay in the fact that BTC was considered as a great store of value with a chance to topple gold from its position as the currently accepted store of value. This idea had converted into the ‘Drop Gold’ campaign by Grayscale investments, which worked with the aim of establishing Bitcoin as the store of value spearhead. Another major argument that the Bitcoin proponent made in favor of the coin was that it was a good tool to fight oppression. There are examples from several countries where the stronghold regime has forced a lot of people to dive into cryptocurrencies such as Bitcoin as an economic solace. Venezuela was a perfect marker for this kind of behavior because despite having a government launched Petro which many consider a sham, citizens were switching to Bitcoin and Litecoin to conduct transactions. Song’s tweet also saw a lot of replies with Parabolic Trav, a Bitcoin supporter, adding: “The beginning of anarcho-capitalism. It was never going to be private police forces enforcing property rights. It’s clear now true anarchic private property, that cannot be seized, begins with bitcoin. It will set the stage for the rest.” The post Bitcoin [BTC] is ‘first bearer instrument that can be stored digitally’, says Jimmy Song appeared first on AMBCrypto.
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Jimmy Song Says Bitcoin is the only Sensible Crypto Worth Investing In. ETH, XRP, BCH Are All High-Risk Coins

In a recent blog, the famed Bitcoin developer Jimmy Song says the traditional investing strategy of diversification does not apply to cryptocurrency. “The one cryptocurrency that is sensible to invest in is Bitcoin, because it’s been qualified through its unique birth and continued maintenance through its 10 year existence. Diversification of a portfolio by adding Bitcoin really can add upside, reduce risk and reduce volatility (if it’s counter-cyclical). Adding unresearched altcoins does not and hence makes no sense.” He thinks that a lot of people in the cryptocurrency space get delusions of becoming a millionaire overnight. And most of these investors cannot differentiate between sound coding and the weak attempts some startups make. “The reality of a cryptocurrency and related investments is in the code which, unfortunately, is very dense, hard to read and impossible to understand for a large number of people.” Song’s main argument against altcoins is that they are mostly marketing hype that brings little to no technical value to the table. He says investors need to stay away from these feeble projects. “An abundance of marketing material about various cryptocurrency projects and marketing strategies for cryptocurrencies involves writing fancy white papers that purport to show the details of the actual system, but are not rigorously defined like the code is.” Song says “most coins in the industry have very high-risk profiles.” And along with the risk comes a low probability of an actual useful product being built. Ultimately, in Song’s opinion, diversifying into high-risk investments makes no sense. “Most of them have no hope of achieving what they purport in their marketing story. Most have no track record of delivery and can be fairly characterized as unresearched. If these were stocks, they’d be sent to the pink-sheet and have a very low price due to the risk premium. Diversifying into unresearched pink sheet stocks doesn’t reduce risk, nullifying the point of diversifying.” Song also recently ripped Ethereum specifically for their lack of progress in a tweet. ETH, promising innovation for over 5 years. Funny how the innovation is always a few years away. Like many “ideas” people, Vitalik thinks that execution is just a matter of implementing what’s been researched. Here’s some news for you: execution is the hard part. https://t.co/9tPlsh8xfc — Jimmy Song (송재준) (@jimmysong) May 22, 2019 Although Song has disparaging words for altcoins, many in the cryptocurrency space believe a bullish alt season will be here soon.   The post Jimmy Song Says Bitcoin is the only Sensible Crypto Worth Investing In. ETH, XRP, BCH Are All High-Risk Coins appeared first on ZyCrypto.
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Digital tokens resurrect with value addition after crypto winter

According to OnChainFX, the top 1o legitimate exchanges deliver the trading volume for measuring the real trading volume of the digital assets. Data collected from the LONG HASH website revealed that the majority of tokens had declined to half of their value since attaining the ATH. The most shocking results came out for ETHLend, based on the Ethereum blockchain that used the digital tokens in the form of collateral for transactions. LONG HASH quoted that ETHLend offered a decentralized peer-to-peer smart contract lending in the crypto-ecosystem. The ETH-based token was trending as the investors were constantly using ETH for transactions, which led to its surge before the bear attacks on the market. Tokens such as Holo and Ravencoin maintained their value equivalent to 50% of their ATH as they were initiated after the 2017 bull run. It came as a surprise for crypto users after tokens like Binance Coin and ChainLink underwent resurgence to achieve their ATH, that was higher than the previous ATH mark. Source: LONG HASH As per the graph, tokens achieved their ATHs from December 2017 to January 2018 and then plummeted. Many of the investors missed out on this bull rush in the crypto market. As the market conditions did not remain the same for a longer duration, tokens slipped into the phase, commonly known as the crypto winter, among the digital asset enthusiasts. LONG HASH shared growth rate of ChainLink and tweeted, “Chainlink (LINK) is having a pretty good day”. Some tokens like BNB and LINK have been performing well and the community can take comfort from this. The post Digital tokens resurrect with value addition after crypto winter appeared first on AMBCrypto.
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Stellerro is set to issue tokenized equity through Spanish-regulated Security Token Offering (STO); Public sale opens June 17th

TEL AVIV, Israel, June 17th, 2019– Stellerro, an alternative investment banking platform, automated, in-scale, determined to bring liquidity to the digital era will launch its STO on Monday, June 17th, 2019 at noon ET. Stellerro, a Spanish-Israeli based alternative investment banking platform is pleased to announce the launch of its new Security Token Offering public sale. Self-founded in mid-2018 by an experienced group of entrepreneurs from the Israeli capital markets & fintech industries, all are Blockchain veterans: Aviad Gindi – CEO, Dror Medalion – GM, Elad Kofman -CSO, Noam Barnea -CTO & Liron Rose – Advisory lead. Stellerro was created to assist asset owners, funds, entrepreneurs & startups in taking part in an alternative method of fundraising. Stellerro believes that as the blockchain ecosystem matures, digital offerings will become easier to access and invest in. The ever-advancing secured technology, transparent approach, the inclusion of new financial titans and a strong blockchain congregation are all unified to create the most important thing Investors seek for — Liquidation & Tradability. Stellerro’s funding goal is €5 Million which it plans to utilize for R&D and business development expansion. The company is expected to generate revenue for investors starting Q4 2019, based on its financial projections. The public offering starts on June 17th, 2019 and will last for 2 months until August 16th, 2019. STRO tokens will grant the investors economic rights and dividend from the firm quarterly revenues. To ensure a fully regulated environment, investors will go through KYC & AML procedures in order to acquire STRO security tokens.  Join the public sale today at www.stellerro.com or contact the team for any inquiry at: info@stellerro.com.   Stay tuned for more: Site · Facebook · Twitter · Linkedin · Instagram · Reddit · Telegram The post Stellerro is set to issue tokenized equity through Spanish-regulated Security Token Offering (STO); Public sale opens June 17th appeared first on ZyCrypto.
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Facebook to Unveil ‘Libra Association’ and Launch Testnet Next Week: Report

Facebook to Unveil ‘Libra Association’ and Launch Testnet Next Week: Report Social media giant Facebook will unveil the Libra Association, which will operate its bespoke cryptocurrency Libra, on June 18, cryptocurrency news outlet The Block reported on June 14. Per the report, Facebook and dozens of its partners will unveil the Libra Association — which […] Cet article Facebook to Unveil ‘Libra Association’ and Launch Testnet Next Week: Report est apparu en premier sur Bitcoin Central.
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