Crypto’s Price Correction Isn’t Killing the Industry High

Source : Crypto’s Price Correction Isn’t Killing the Industry High “You should buy crypto in amounts you’re not worried about, and sell it whenever you start thinking about it.” At least that’s Blockchain CEO Peter Smith’s stance on investing in cryptocurrency, a take issued during just one of a dozen or so panel discussions at Yahoo Finance’s All Markets Summit Tuesday. Focused solely on cryptocurrencies, the one-day event, curated in part by CoinDesk, paired Smith with Chain CEO Adam Ludwin, who agreed this wasn’t exactly a bad investing philosophy. The comments, while perhaps amounting to ‘Investing 101’ advice, were notable for their contrast to the “just HODL” movement, an ethos propagated by early investors that has largely encouraged the holding of cryptocurrency – no matter the ups and downs. But that’s not to say that the panel, as well as the day’s event, didn’t showcase just how captivated investors are with cryptocurrency these days. Smith told attendees: “There’s probably never been more hype about a technology or industry than ours.” And numbers from a survey Yahoo undertook seem to bear that out. According to Yahoo editor-in-chief Andy Serwer, 40 percent of respondents have bought cryptocurrencies over the past year. Yet, in the same survey, about half still believe they may be a fad or even a hoax. Both the hype and this confusion has caught the attention of various regulators – two of which, the CFTC and the SEC, were called before a Senate hearing on cryptocurrency just a day before the event. As such, the hearing provided ample fodder for the speakers, many of whom saw the regulators’ remarks as a positive for the fast-growing industry. Speakers touched on the plethora of new investment vehicles and tools, even as some spoke out about what they feel is the nascent state of the technology. “Usually nascent technologies out of the lab don’t get this much attention because there’s no way to profit off them,” said Ludwin. “It’s good to never lose sight of that.” He added: “You have a capital markets phenomenon overlaid against a very early technology … so time will tell whether this intense capital markets thing around it stunts the growth or accelerates the growth or stunts and accelerates back and forth, which has sort of been the course so far.” More sophisticated options But caution aside, much of the focus was on products, including hedge funds, derivatives, futures and initial coin offerings (ICOs) – topics that were all widely discussed during the day’s event. For example, Barry Silbert, head of crypto investment conglomerate Digital Currency Group (DCG), was there to tout a new fund announced Tuesday by Grayscale, a DCG subsidiary specializing in public markets vehicles offering cryptocurrency exposure. The fourth Grayscale product, the Digital Large Cap Fund is designed to give investors exposure to the five largest cryptocurrencies based on market capitalization, and it joins the ranks of a whole slew of hedge funds that have launched over the past year to lure more institutional investors. Not only that but …

Plus…Crypto’s Price Correction Isn’t Killing the Industry High

Crypto Pros Warn Yahoo Event: Invest at Your Own Risk

Source : Crypto Pros Warn Yahoo Event: Invest at Your Own Risk From panel to panel at the Yahoo Finance’s cryptocurrency conference Wednesday, speakers kept beating the drum of personal responsibility. Do you research before investing any cryptocurrency, the audience was repeatedly warned. Especially if you don’t understand it. Goodwin Procter LLP partner Grant Fondo perhaps put it best, remarking that “at some point, you may lose.” “Things go up and down,” he continued. “Some people put everything into one project, and I think that’s a bad idea no matter how good an idea it seems.” His fellow panelist, Chamber of Digital Commerce president Perianne Boring, framed that point from the perspective of greater control on the part of the investor. Such control, she warned, brings with it the need for research and critical thinking about where one’s money is actually going. She explained: “For the retail investor who wants to get involved in the blockchain ecosystem, whether through an [initial coin offering] or through other means, you really need to educate yourself. For the first time in, possibly, history, you can have control – but with that increased amount of control comes an increased amount of responsibility.” The panel on which Boring and Fondo appeared was one of a number that […] The post Crypto Pros Warn Yahoo Event: Invest at Your Own Risk appeared first on Bitcoin Wiki.

Do Your Homework: Responsible Investing Is Mantra at Yahoo Crypto Event

Source : Do Your Homework: Responsible Investing Is Mantra at Yahoo Crypto Event From panel to panel at the Yahoo! Finance All Markets Summit: Crypto conference Wednesday, a common theme emerged: Do your research before investing in something. Especially if you don’t understand it. Goodwin Procter LLP partner Grant Fondo perhaps put it best, remarking that “at some point, you may lose.” “Things go up and down,” he continued. “Some people put everything into one project, and I think that’s a bad idea no matter how good an idea it seems.” His fellow panelist, Chamber of Digital Commerce president Perianne Boring, framed that point from the perspective of greater control on the part of the investor. Such control, she warned, brings with it the need for research and critical thinking about where one’s money is actually going. She explained: “For the retail investor who wants to get involved in the blockchain ecosystem, whether through an [initial coin offering] or through other means, you really need to educate yourself. For the first time in, possibly, history, you can have control – but with that increased amount of control comes an increased amount of responsibility.” The panel on which Boring and Fondo appeared was one of a number that touched on a range of subjects, including regulation and investor demographics in the crypto space, as well as what trends may shape the coming months and years in terms of the tech’s trajectory. ‘Faux blockchain’ As for what kinds of things would-be investors should be wary of, Blockstack’s Ryan Shea named one in particular: Companies falsely claiming the mantle of decentralization through the use of blockchain. “Watch out for faux decentralization, and faux blockchain, because we’re going to see some hybrids. But some companies are going to say ‘Oh yes, we’re decentralized and blockchain,’ but they’re not,” Shea said. “Watch out for these.” Speaking more broadly, CoinDesk’s director of research, Nolan Bauerle, suggested that those thinking of approaching the space – regardless of an intent to invest – need to do so in a “serious” manner. “I would say we are dealing with an extremely powerful technology, dealing with cryptography…don’t come out with an unserious mind, come out with a serious mind,” he commented. Image by Bailey Reutzel for CoinDesk Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Blockstack. The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at news@coindesk.com.

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