Cold day to be outside talking about the hot topic of #bitcoin and #cryptoassets / #digitalassets for Fintech Ireland with Will Goodbody of RTE, who also interviews Henrik Andersson, CFA (CIO Apollo Capital) and Lory Kehoe (Adjunct Assistant Professor, Trinity Business School) about their thoughts on #crypto as an asset class and regulation.
I am seeing:
1) a ramp up in scam investments, riding the epic wave of the #BTC price increase aimed at luring people into the FOMO (fear of missing out) opportunities; and
2) the loss of sight of the ‘democratisation of financial services’ and decentralised ethos’ of #crypto in favour of speculative nature of ‘assets’ like bitcoin.
Don’t read my comments as being negative on decentralisation and distributed ledger technology; they are leading to many interesting cost effective and time efficient applications.
Rather be wary of the bitcoin salespeople whose interests have noting to do with the ” purely peer-to-peer version of electronic cash [that] would allow online payments to be sent directly from one party to another without going through a financial institution” heralded in the abstract of the Nakamoto paper.
Or put another way, ‘don’t lose sight of the forest for the trees’.