⚡️2018 predictions for cryptocurrency from Wyre CEO Michael Dunworth


In terms of predictions like it’s
obviously impossible to say in this like loopy market but one thing I am really
bullish on that a lot of people’s tend to disagree with me is the SEC they will
approve an ETF and an ETF is the exchange-traded fund which basically
means mums and dads don’t need to go buy bitcoins or Ethereum and secure them
private keys and two-factor authentication all that sort of stuff
it will mean I log into my Commsec account and I type you know buy Facebook,
buy some Amazon stock and buy some bitcoin and then it would be just as
sort of seamless as that a lot of people said the SEC won’t approve it I believe
that this year they will approve it and that will cause a tremendous flood of
capital basically into the market but also capital out of the market so people
that think this is junk I want to get out it’s a two-way street but I think I
think that will happen this year as well because the banks the banks are losing
too much money by not participating in this whole crypto economy and they can’t
do it because they’ve not there’s no regulated vehicles for that they kind of
go in and just like create an account on crack and and start buying bitcoins
they’re just not allowed to do that I don’t think from a regulatory standpoint
so they will be everyone saying the SEC won’t budge on it but the banks have too
much to lose and there will be sort of I suppose gripping twisting the
strong-arming the SEC to say hey we’re losing about 50 million dollars a day to
give you an idea of how much money is being lost right now the biggest
exchanges in the world are probably making two to three million dollars in
revenue per day from trades being done in these in digital currencies all that
could be and that’s not even at scale yet that’s not even with the
infrastructure of the audience of you know hundreds of millions of bank
accounts that’s just with crypto enthusiasts so if you look at the scale
of opportunity there is 10s, 20s, 30s of millions of dollars a day that are just
being purely left on the table because of this so I think that’ll happen
massively decentralized exchanges massive they are the biggest thing since
sliced bread decentralized exchanges so 0x huge I’ve been a massive 0x fanboys
since day 0 for Wyre all we do is work with exchanges like we have to we
work with all the exchanges we pump through we’ve done 3.5 billion dollars in trades in the past like two years we as a company every
night when we go to sleep when we choose exchange partners one of the biggest
things is counterparty risk is this exchange like if you’re if you’re in the
exchange are you gonna run away with our money do you secure the funds well
enough all these kind of things that we have to worry about with the
decentralized exchange we don’t have that anymore because there is no central
point of failure there is no honeypot for people to hack or at a much minimal
scale there is no you know company that runs it and they can walk away with
everyone’s money so I think 0x or decentralized exchange’s like 0x and
then Radar Realay and Kyber Efinex, NEO in China they’re building
NEX which is NEOs decentralized exchange these are all going to be a
huge theme for this year and I would be really bullish and supporting those
another one that I’m ultra bullish on and we are as well as a company is MakerDAO, MakerDAO is, Maker M-a-k-e-r DAO D-A-O stands for decentralized autonomous
organization that they are building if you’re familiar with Tether, Tether is
obviously it’s a supercharged US dollar it’s a US dollar it’s stable but it’s
got all the powers of cryptocurrency you know fast transfers international dadadadada.
The problem with Tether is that it’s centralized in that you know they
haven’t had an audit in four quarters the last audit that they did before was
from some accounting firm in the corner of whatever street in the middle of
Taiwan it’s in Mandarin you know they’re they’re not really holding up their end
of the bargain yet that’s still a 2.5 billion dollar market cap
cryptocurrency where people are that desperate for it they’ll still use it no
matter how much counterparty risk is there MakerDAO has built probably one
of the most intriguing and ambitious projects I’ve seen in the whole crypto
space since since the beginning of crypto and that is the Dai D-a-i and
it’s basically a decentralized version of Tether so I think that will be huge
the reason why as well is you’ve got if all these decentralized exchanges are
going to become massive they they all need a decentralized stable coin to work
with do you know I mean so just like you see Poloniex, BitMEX, Bittrex, Bitfenix they all use Tether and Tether is a huge trade pair against all these
cryptos if you don’t have that Tether that means you’ve got people that can
only trade ETH to bitcoin and bitcoin to XRP which is decimals upon decimals
it’s never round numbers and dollars which is another barrier to entry so I
think coupling those two I think they will be a humongous theme for the year
that’s a best guess

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