[ad_1]
Tone Vays is one of the best known names in the cryptography industry. Involving in space in early 2013, he played an active role in promoting crypto-assets as a means to achieving economic freedom.
Working on Wall Street for more than 10 years at Bear Stearns and JP Morgan Chase, Tone has witnessed the financial crisis that precipitated the creation of Bitcoin in 2008.
Present in several documentaries, including Magic Money and Bitcoin – Beyond the Bubble, Tone is now an independent content creator on ToneVays.com and its YouTube channel dedicated to the healthy economy and finance.
We talked about the threats to Bitcoin, the lightning network, the STOs and its bitcoin price forecasts for the end of 2019.
What do you think of the growing volume of LocalBitcoin in Venezuela?
Not much … Many charts show LocalBitcoin's devaluation volume in local currency, which makes these charts very impressive, but if you convert to USD, I do not expect it to be too high. One of the reasons is that in countries like Venezuela, people do not have a lot of money, so the impact on Bitcoin with a saving of $ 100 will be small.
What do you think is the biggest threat to the existence of bitcoins?
In 2014, I wrote an article on the blog titled "What is the biggest threat facing Bitcoin?". My answer at the time is the same because it is now about "misinformation". It's much worse today because we now have people who think that Bitcoin Cash or Bitcoin SV is Bitcoin and that Ripple & Ethereum supporters are trying to convince the world that their useless chips are better than Bitcoin. The second largest will likely be a crackdown by the world government with the majority of developed countries criminalizing people for an anonymous Bitcoin transaction.
In your lifetime, do you think we will see: Central banks keep Bitcoin in reserve? A collapsed state economy takes the "bitcoin standard" instead of dollarization?
Yes, I believe that in my lifetime, these two events have more than a 50% chance of happening. One of the reasons I continue to HODL my bitcoins even in a bear market.
Would complete anonymity hinder the widespread adoption of bitcoins through regulatory refoulement?
Yes, even though I am an advocate of anonymity in Bitcoin and I even think that this should be a default feature, I also think that the withdrawal of anonymity should be simple. Many functions should not require the anonymity and the future of Bitcoin would be more promising if, for example, the day-to-day tax revenues were routed through the Bitcoin network seamlessly. In addition, although Bitcoin continues to grow, it makes it less confrontational with governments without anonymity at the moment.
Are you excited about the Lightning Network and what do you think it could do for Bitcoin?
Very excited. This would make it possible to spend Bitcoin instantly, privately and cheaply at prices below the cent. The implication of this is huge for a mass adoption. It will also mean that all other cryptographic currencies will not be needed to increase the efficiency of payments.
Do you like long term technical analysis based on half cycles of bitcoin?
I am not a fan of halving, they create crazy shocks on the ecosystem and profitability of minors. At the last halving, I was able to correctly analyze that the price would start to increase from 3 to 6 months before halving. I think this year it will be the same but it is not an ideal situation. I believe in the analysis of time and long-term cycles in general which has also helped me to predict some interesting turning points. One of those critical dates is October 5, 2019, let's see what happens.
What is your bitcoin price forecast for the end of 2019?
I am looking for the price to be around $ 5,000 and the bear market is already over. But it's really impossible to predict and why I keep making videos almost every day to keep my followers informed of my thoughts.
Do you think the HTOs have a legitimate use case or is it about another bubble like that of ICO Mania?
The only difference between OCTs and ICOs is the fact that a "may" have regulatory approval, so there should be far fewer scams. However, like the ICOs, they will be built on unsecured and technologically unsecured centralized platforms funded by ICOs back in the day. In addition, 98% of the ICO / STOs I have examined are totally useless projects. I do not find the space of the STO or the stable piece particularly interesting and I do not expect either to another advertising bubble as in 2017. I hope that people have learned their lesson.
Of all the crypto scams, which do you consider the most flagrant, despite the popular opinion to the contrary?
Probably Ripple and his clones like Stellar. This is a totally useless token that has no reason to exist. Other candidates or tokens that were proof of work (PoW) for a month or two so that insiders can accumulate a heap, then you convert the token into Proof of Participation (PoS) or invent masternodes so that those who have a first access to the token get to do infinitely more of the token. Example that these tokens are TokenPay (PAY), Steemit (STEEM), Dash and soon.
Are there any trends in the cryptography industry that you are particularly interested in?
Yes, I'm waiting for Bitcoin to dissociate itself from other cryptos so that when it starts to rise in price and other chips like Ethereum, Litecoin, Monero and the rest will continue to fall or stay flat, I'll know that the market bearish is over. I am also looking for instability in the fiat system with bank closures like Greece in 2015, Cyprus confiscation in 2013, Fiat bill cancellations as in India 2017 and a general war on cash via anti-money laundering laws. The more the government fights people's ability to use money, the more likely Bitcoin is to prosper.
What are your plans for the coming year?
I will continue to spend the year educating people on Bitcoin. It's my passion in this space. Of course, I will continue to teach people how to become better traders, but that's how I earn my living. I will continue to focus on my YouTube channel and conferences as Unconficatable. I am really looking forward to attending the Malta conference from April 5 to 7, entitled Understanding Bitcoin, which will allow Bitcoin developers to educate the average user, who may not be able to. not even be technical about how to get the most out of the use of bitcoins.
[ad_2]
Source link