Nobel-Winning Nocoiner Economist Calls Bitcoin a Failed ...

Binance Official: ‘If the ICO Bubble Bursts, It’s a Good Thing for the Industry’

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Head of Binance Labs Ella Zhang thinks that if the Initial Coin Offering (ICO) “bubble bursts, it’s a good thing for the industry,” Bloomberg reported June 4.
Zhang, who joined Binace less than two months ago, told Bloomberg that though the bull market remains positive thanks to a stable inflow of users, only the ICO bubble burst would open the industry to truly valuable projects. Zhang did not predict when such a bubble burst may occur. She said:
“We’d like the bubble to break. We still see a lot of hype in the market, valuations are high and unreasonable. We really think if the bubble bursts, it’s a good thing for the industry.”
Additionally, Zhang said that she is helping Binance to deal with the scams that have emerged as a result of the hype, with so-called Cryptocurrency Governance Initiatives, or CGI. The purpose of the initiative is to “fight scams and sh*t coins, and to boost crypto and blockchain technology.”
Within the initiative, Binance will reportedly support funds and token teams it’s working with, but they must promise that “they won’t participate in pump and dump” schemes, and that they will build products according to their white papers. Binance will stop investing in funds and delist tokens from teams that do not honor their commitments.
Over the next three to five years, Binance Labs plans to invest $1 bln of Binance profits in various projects, with an average investment per project between $1 mln and $10 mln. There are 20 different cryptocurrency funds with whom Binance plans to collaborate as part of the new venture capital fund. All the projects involved will be obligated to join CGI. The fund has reportedly made four investments in both companies’ tokens and equity so far.
Zhang, who was previously an investment director at venture firm Kleiner Perkins Caufield & Byers, believes there can be a conflict between investing in tokens and equity, as they are valued differently. She said:
“If we see founders contribute to both sides, we’ll hold both sides. Sometime it’s hard to see which one is more valuable, but our position is to support the founders and create value for the project as a whole.”
Ella Zhang is not the first expert to predict a bubble burst. In April, Nobel Prize laureate for economics Robert Shiller pointed out that while Bitcoin might be a bubble, that doesn’t mean that it will burst and be gone forever. According to Shiller, there is a part of the cryptocurrency “bubble” that is political, as people who don’t trust their governments may be tempted to invest.
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Robert Shiller, who won the Nobel Memorial Prize in Economics in 2013, holds that Bitcoin, amongst other cryptocurrencies, might be just another failed experiment. He touched on their complexity and the fact that they are connected with a yearning for social revolution. Nobel Prize-winning economist Robert Shiller says there’s no clear-cut way to peg a price on bitcoin. “I think the value of bitcoin is exceptionally ambiguous,” Shiller said in an interview. “There is the medium of exchange function that it’s offering, and there’s also a store of value function; that is, you can hide away your […] Nobel Prize-winning economist Robert Shiller believes there’s no clear way to put a price on bitcoin. “I think the value of bitcoin is exceptionally ambiguous,” he told CNBC today.. The comment is perhaps notable in that it comes from a legendary economist who gained long-term credibility following his work around the 1987 stock market crash and the housing bubble in 2008. Nobel laureate Robert Shiller is fairly confident bitcoin will collapse, but he’s not quite sure when that collapse will occur. Shiller, a Yale University professor who won the Nobel Prize for Economics in 2013, told CNBC that bitcoin will likely “totally collapse and be forgotten,” although it could linger for as long as 100 years. In a recent interview with CNBC, Yale professor of economics and Nobel prize-winner Robert Shiller advocated that Bitcoin will eventually die out. Following the advice of investing guru Philip Fisher Winner Of The 2016 Nobel Prize In Economics Points Out Blockchain Smart Contract Weaknesses. by Daniel W. May 29, 2019 . Home Blockchain Announcements. Facebook. Twitter. Telegram. ReddIt. Linkedin. Email. 2016 Nobel Laurette Claims Smart Contracts Are Not The Solution for Everything. Global cryptocurrencies often differ in terms of their objectives as well as how they function. ETH or ...

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Bitcoin Has Created New Wealth, Bitcoin And Ethereum Block Trading And The Maturing Crypto Market

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