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Mark Mobius Supports Bitcoin (BTC) After Previously Calling Cryptocurrency A “Fraud”

One of the most recognizable figures in investing has had a change of heart in his opinion towards Bitcoin and cryptocurrency. Mark Mobius, cofounder of Mobius Capital Partners, recently spoke in a Bloomberg podcast where he claimed that Bitcoin will be “alive and well” into the future. Despite his current positive attitude towards Bitcoin, Mobius delivered a scathing critique of BTC in May 2018, when he called the currency a fraud. Now, with the price of Bitcoin achieving relative highs and plotting a scorching path of price gains, the long-time investors has come to believe that cryptocurrency will offer utility to consumers not currently provided through fiat, “There’s definitely a desire among people around the world to be able to transfer money easily and confidentially. I believe bitcoin and other currencies of that type are going to be alive and well.” While Mobius may concede a future that includes Bitcoin and cryptocurrency, he has yet to invest personally in any of the digital assets. Mobius told Bloomberg, “Whether I would invest in it is not a question. You have incredible volatility and, at the end of the day, you can’t chase one individual group or one organization that will keep track of what is going on.” The 82 year-old investor also took the opportunity to spread some caution on cryptocurrency, telling traders to be careful. Mobius pointed to the massive and high-profile collapse of cryptocurrency exchange Mt. Gox in 2014 as an example of the risks involved in crypto, which saw users lose hundreds of millions in BTC stolen from the exchange. Mati Greenspan, senior market analyst for eToro and regular cryptocurrency commentator, was an early advocate of the shifting attitude towards cryptocurrency in Wall Street and established financial institutions. In a note to clients, Greenspan wrote, “Many of those who are heavily entrenched in the old financial system are unsurprisingly unswayed by the benefits of crypto, but that’s changing rapidly. The volatility is one of the most attractive qualities of crypto from an asset managers perspective. The idea of asymmetric risk allows us to use this unique and uncorrelated asset class to greatly increase our return on risk in any otherwise well-diversified portfolio. Just as I, in my portfolio, am holding about 3.5% in emerging markets, I believe that one day soon asset managers around the world will diversify with crypto.” While the crypto markets have experienced a small contraction on the day, broader forces appear at work driving interest to the industry. As pointed out by Mobius, growing conflict between the United States and China in a looming trade war has investors feeling shaky about the traditional markets. Just as Brexit previously drove capital into cryptocurrency before it’s October-delay, tensions between the U.S. and China have made crypto an alternative source of investment. In addition, the high profile development of coins by social media giant Facebook and J.P. Morgan Chase has led to a legitimizing effect of cryptocurrency. While the technology was previously thought of as niche, Bitcoin and cryptocurrency is heading in the direction of a mainstream product. The post Mark Mobius Supports Bitcoin (BTC) After Previously Calling Cryptocurrency A “Fraud” appeared first on Ethereum World News.
Ethereum World News

Known Seven-Figure Emerging Market Investor Mark Mobius Joins The Bitcoin Bandwagon

Mark Mobius Joins The Bitcoin Bandwagon. Calls It Alive And Well After more than a year of the crypto bear market, the air has turned bullish. The sentiment around the technology is turning positive. Even people who were critical of the asset have been speaking out in favor of it. One such example is Mark […]
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Legendary Investor Mark Mobius Now Says Bitcoin Has a Future After All

Veteran investor Mark Mobius publicly announced he had U-turned on Bitcoin May 15 as cryptocurrency markets continue to boom. Mobius: Bitcoin Can ‘Transfer Money Easily And Confidentially’ In a fresh interview with Bloomberg, the emerging markets fund manager and founder of Mobius Capital Partners said he saw a global appetite for Bitcoin in particular – and that this would continue. “There’s definitely a desire among people around the world to be able to transfer money easily and confidentially… and that is really the backing to Bitcoin and other cryptocurrencies of that type,” he told the network. So I believe it’s going to be alive and well. His comments run in stark contrast to just eighteen months ago, when Mobius came out highly critical if Bitcoin as it circled its all-time price high of $20,000. “You’ve got to separate the transmission (from) the value proposition, in other words, ‘Is it really valuable, is it worth something?’ – and that of course is not the case,” he said in a CNBC interview in December 2017. Even then, Mobius highlighted the demonstrable use case for cryptocurrency: internet-based transfers with higher levels of anonymity and efficiency than that afforded by fiat. No Personal BTC Holdings The warning signs of a bubble were inescapable, however, and markets’ return to form in 2019 has still failed to convince Mobius to put some skin in the game. “Whether I would invest in it is another question – there’s incredible volatility, and at the end of the day you can’t trace one individual or group… one organization that’ll keep track of what’s going on,” he continued to Bloomberg. He voiced further concerns about security, taking the example of Japanese exchange Coincheck to illustrate the lack of certainty for investors. Coincheck lost over half a billion dollars to hackers in January 2018. Asked whether he had any funds in Bitcoin at all, Mobius similarly confirmed he did not – but this did nothing to quell the enthusiasm of others. “Whilst he personally doesnt appear to be a buyer (given vol), supports our thesis that consensus amongst traditional, multi-asset investors has turned significantly bullish,” Richard Galvin, CEO of Digital Asset Capital Management, responded on social media Wednesday. For a traditional financial community figure, however, the vision of a healthy Bitcoin in future stands out. Other veteran fiat faces remain steadfastly opposed to cryptocurrency, Bitcoinist reporting on recent comments by Warren Buffett, who referred to Bitcoin as a “gambling device.” “It doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me,” he said. Since he uttered those words ten days ago, Bitcoin has in fact gained more than 30 percent to hit annual highs of $8321 earlier this week. What do you think about Mark Mobius’ perspective on Bitcoin? Let us know in the comments below! Images via Shutterstock, Getty Images The post Legendary Investor Mark Mobius Now Says Bitcoin Has a Future After All appeared first on Bitcoinist.com.
Bitcoinist

Bitcoin [BTC] will be ‘alive and well’ in the future, claims Mark Mobius

Since its inception in 2009, Bitcoin has had to deal with its fair share of critics, all of whom were highly skeptical of it. While investors like Tim Draper have championed the cause of Bitcoin and blockchain, other major investors like Warren Buffet have continued to denounce the cryptocurrency. However, there are also some who have recanted their old views on the digital asset. Mark Mobius, Co-founder of Mobius Capital Partners, is one of them. Mobius spoke about Bitcoin and its future credentials, in light of the current Bitcoin rally, during an interview with Bloomberg. Mobius stated that people of the present era had a strong “desire” to be able to transfer their money around the world, with ease and high confidentiality. According to him, cryptocurrencies such as Bitcoin fulfill this need. He added, “The madness is really the backing that Bitcoin has, which is really tight. So I believe Bitcoin will be alive and well.” However, Mobius conceded that he was yet to invest any capital in Bitcoin [BTC], since the volatility attached to the digital currency was too much for his liking. Back in December 2017, Mark Mobius had remarked that Bitcoin gave people a tool to indulge in illicit activities and hence, was very dangerous without proper regulations keeping an eye on it. Mobius also made news after he stated that he did not see Bitcoin [BTC] as a store of value, or as a good investment. Mark Mobius is not the first famous investor to change his opinion on Bitcoin [BTC]. Earlier in March, Marc Faber, a famous Swiss investor, made his first Bitcoin [BTC] purchase. Like Mobius, Faber was also critical of Bitcoin’s future in the financial market. However, after making his first investment in Bitcoin [BTC], Faber commented that it was possible that Bitcoin [BTC] will be the “standard for money transfers.” This change of heart, on the part of many major investors, is promising for Bitcoin’s future as it further validates the existence and future utilization of the largest virtual asset. The post Bitcoin [BTC] will be ‘alive and well’ in the future, claims Mark Mobius appeared first on AMBCrypto.
AMBCrypto

Bitcoin Will Be ‘Alive and Well,’ Says Renowned Emerging Markets Investor Mark Mobius

Bitcoin Will Be ‘Alive and Well,’ Says Renowned Emerging Markets Investor Mark Mobius Veteran frontier markets investor Mark Mobius has said he believes cryptocurrencies will show resilience due to continuing demand for new forms of value transfer. Mobius made his remarks during an interview with Bloomberg on May 15. Mobius is a seasoned and pioneer […] Cet article Bitcoin Will Be ‘Alive and Well,’ Says Renowned Emerging Markets Investor Mark Mobius est apparu en premier sur Bitcoin Central.
Bitcoin Central

Stellar Lumens (XLM) Cryptocurrency is Staking Its Claim as the Ethereum Blockchain Killer

It is clear that Ethereum (ETH) is currently facing a lot of competition in the cryptocurrency market. It is not as easy as before to be one of the top virtual currencies. There are several projects that are growing and threatening Ethereum’s dominance. Although Ethereum continues to dominate the Initial Coin Offering (ICO) landscape, the situation does not look so positive for the future. The network has different scalability and speed problems that need to be solved, and developers seem to be struggling with this issue. Now, ICO teams can start their projects in many different platforms such as EOS, NEO, VeChain, Stellar, Tron and many others. This is good in terms of development because each of these projects wants to offer the best solutions for users. One of the latest projects that were released to the market is Kin. This virtual currency and blockchain network was launched by the Kik company that operates Kik Messenger with 300 million users around the world. Although it was launched on the Ethereum platform, Kik announced that it will close kin’s atomic swap with Ethereum. Stellar is also one of the largest blockchain networks in the cryptocurrency market. It has an easy-to-use token and a system that is permissionless and accessible to everyone. At the same time, Stellar has built-in-token capabilities that support multi-language signature authorizations, and more. Furthermore, Sellar’s token can be traded without having to rely on a third party exchange. Moreover, compared to Ethereum, Stellar offers faster and cheaper transactions. Back at the beginning of the year, the ICO Mobius was distinguished because it was one of the most extensive networks in the market and it was carried out on the Stellar network. Nevertheless, Ethereum offers a very good infrastructure for developers to create a token, carry out an Initial Coin Offering, or create a new blockchain network. Ethereum’s dominance is being eroded by new competitors that are entering the market. This does not mean that Ethereum will disappear, but developers will have to work harder if they want to help Ethereum remain competitive. With the scaling issues that Ethereum is facing and the problems related to the transition between PoW to PoS consensus, other networks are starting to grow and take a place that was before completely owned by Ethereum. It is also worth mentioning that Ethereum lost the second position in the crypto market after XRP was able to surpass it in terms of market capitalization. This also shows that the sentiment around Ethereum is not as positive as at the end of the last year. At the time of writing this article, Ethereum has a market capitalization of $12.31 billion and each ETH can be purchased for $119 dollars. Stellar Lumens (XLM), instead, is the fifth largest cryptocurrency with a market cap of $3.07 billion and a price per coin of $0.16 dollars. Although Stellar is growing, it still has a long way to reach the top 3 and surpass Ethereum.
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Stellar Lumens (XLM) Looks To Rival Ripple’s XRP Coin And Be The ‘Ethereum (ETH) Killer’

The Ethereum platform is known for being the primary ruler over the initial coin offering (ICO) section of the cryptocurrency world, but nothing lasts forever. Ethereum might have the speed and scalability that are easy build upon, but the constant issues with clogging the network has caused some projects to abandon Ethereum in lieu of other platforms. With any ICO team, the options are plentiful, with EOS, NEO, VeChain, Stellar, and others offering up their services as well. Right now, it looks as though many new projects are flocking to Stellar Lumens. Kin is a perfect example of this switch. Kin is a cryptocurrency that was launched by the creators of Kik Messenger, a home to 300 million monthly users. At the beginning of the ICO hype, this project was originally launched on Ethereum, but a recent announcement on Wednesday showed that the Kin was closing their Ethereum-based atomic swap. They also told users that they would be launching a tool that would help users get their kin holdings from the former platform. Stellar has a user-friendly issuance system that is both permissionless and widely accessible. However, the built-in token capability makes it possible for these ICOs to support multi-signature authorizations, limit token holdings, and even create dividends. The decentralized exchange that Stellar offers even makes it possible for any token to be traded, eliminating the need or a middleman. Even a brand-new token can be traded on the same day it is received, and with better processing times and fees. With all of these benefits, is Ethereum on shaky ground? In January, Stellar showed its value when Mobius used the platform for their startup’s ICO, bringing in $39 million. The fact that it was the most extensive ICO was worthy enough of attention, but the fact that it was done without Ethereum seemed to be even bigger news. Ethereum used to be the go-to platform to create a blockchain project and even to offer an ICO. Their infrastructure basically makes it possible for users to develop their own blockchain, and the ERC20 is so well-known that it is basically a unified standard at this point, offering support for tokens. However, Ethereum cannot just ride the wave of being the “only” option anymore. Thirteen blockchains have been involved in the successful completion of an ICO, including Stellar. Some of the other platforms with these success stories include VeChain, EOS, Tron, NEM, QTUM, BitShares, Lisk, and Waves. It would not be a long shot to say that the future will bring in ICOs that have been enabled by well-known blockchain projects too. The most pressing issue that should be on Ethereum’s mind is the scaling concerns. Right now, there is a transition from proof-of-work to proof-of-stake, which will ultimately determine what Ethereum can do in the future. However, if they fail, Stellar may rise to the top.
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Mobius to bring anonymity of Monero to Ethereum

At the Privacy Enhancing Technologies Symposium in Barcelona last week, two researchers presented a plan to bring the anonymity of monero to the ethereum network with the catchline "Trustless Tumbling for Transaction Privacy".
BraveNewCoin

Can Monero’s Crypto Privacy Model Be Adopted On Ethereum’s Network

Some feelers have suggested the possibility of incorporating a blockchain privacy feature resembling those of the Monero blockchain, for the Ethereum network. Consequently, the events trailing the mentioning of this topic has continued to feature different comments and reactions from various quarters. The accompanying advantages are something to relish for a long time, and a good number of developers on the Ethereum platform are sure to welcome the development with both hands. However, there are a whole lot of things to consider, which have seemed to present themselves as the stumbling block as far as implementation is concerned. For instance, a privacy-based network would require more storage spaces, as well as increases transaction fees. Blockchain protocol researchers have swung into action and have come out with a proposed framework – the Mobius. Mobius is expected to use a mixture of solutions to come out with a perfect working model. The model would come with accompanying features that would still effectively CLI down on high transaction fees, and optimum scalability ratios. Analysts say that if the Monero's Mobius model is used on the Ethereum network, then we would see a complement function in a hybrid that works well. Hence, the “new ethereum” would be able to effectively conceal user identities, as well as send anonymous payments. In the sequel to this, UK-based distributed ledger startup Clearmatic claims it has worked on an implementation plan that would be able to make the necessary add-ons on the smart contract network subtly. The incorporation of Mobius would also have far-reaching positive effects on the many smart contracts that are hosted on Ethereum. The Challenges On Monero Mobius Road To Implementation Although the advantages of the Monero Mobius on Ethereum are well acknowledged, it doesn’t yet look like there are any plans to consider it, in the first place. The air of uncertainty may have come about as a result of the many issues that need urgent attention on the overall Ethereum network. Asides this, many current users on the network don’t seem to understand the underlying advantages contained in mixing technologies. According to one of the mix technology proposer Rebekah Mercer, if a practical implementation is to pull through, then there must be some form of education, which makes people understand why these decisions should be made. The Way Forward There are no doubts about people’s desire to use the blockchain network with some adequate privacy and anonymity ensuring features. If the Ethereum network doesn’t ensure the implementation of a Mobius-like framework at least, then they may need to sort out other solutions for the future. If nothing is done in this direction, it may not be surprising to see a negative impact of it on the network, in the next few years.
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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.
AMBCrypto

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.
ZyCrypto

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.
Bitcoin Central
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