Search Coins

Brace for impact – Expect something different from the next Bitcoin Options expiry

eng.ambcrypto.coma minute ago
0

Bitcoin is a better gold than gold itself, Tyler Winklevoss says

cointelegraph.com19 minutes ago
0

Bitcoin, BitTorrent, Maker Price Analysis: 21 September

eng.ambcrypto.com31 minutes ago
0

After 16% drop, traders target $250 Ethereum price — Here’s 3 reasons why

cointelegraph.com34 minutes ago
0

CIA’s New Research Lab to Study Blockchain

www.coindesk.com39 minutes ago
0

‘We Blew It.’ Douglas Rushkoff’s Take on the Future of the Web

www.coindesk.coman hour ago
0

BitMax.io Announced the Listing of DIVI, the “Crypto Made Easy” DeFi Project

www.coinspeaker.coman hour ago
0

FinCEN Files find British financial firm’s connection to Mt Gox

eng.ambcrypto.coman hour ago
0

Uquid Launch the Defi Shopping Stake (DSS) and Defito Finance (DTO)

news.bitcoin.coman hour ago
0

Bitcoin and Ether in Biggest Slump Since Sept. 3 as Stock Markets Sink

www.coindesk.coman hour ago
0

Cointelegraph Consulting releases DeFi Guide to increase wider adoption

cointelegraph.coman hour ago
0

Chamath Palihapitiya’s Social Capital Holds Bitcoin From 2013 Amid Talk of Public Listing

www.coindesk.coman hour ago
0

Challenging Ethereum? Non-ETH tokens are seizing the moment

eng.ambcrypto.com2 hours ago
0

The Coronavirus Has Really Pushed Bitcoin Forward

www.livebitcoinnews.com2 hours ago
0

How Activist Investors Can Help the Digital Assets Industry Mature

www.coindesk.com2 hours ago
0

Blockchain-Powered Brand KIM Diamond Announces Flagship Store and Selene Moon Goddess Jewelry Line

www.coinspeaker.com2 hours ago
0

Powell to Face Congress

www.trustnodes.com2 hours ago
0

Apple Accuses Epic Games of “Marketing” with Fortnite Lawsuits, Epic Counters the Claim

www.coinspeaker.com2 hours ago
0

Crypto, global equity markets rattled during Monday morning trading session

www.theblockcrypto.com2 hours ago
0

5 Major Banks Exposed for Moving Trillions for Mobsters, Onecoin, and Drug Cartels

news.bitcoin.com2 hours ago
0

Uniswap Token [UNI] Crashes in Response to BTC and ETH Options Expiring

coingape.com2 hours ago
0

Bitcoin price failure at $11K moves focus back to sub-$10K CME gap

cointelegraph.com2 hours ago
0

Bitcoin Cash, NEM, VeChain Price Analysis: 21 September

eng.ambcrypto.com2 hours ago
0

Unchained Capital Unveils New Ways For Businesses To Custody BTC

bitcoinmagazine.com2 hours ago
0

The MicroStrategy Effect? This Firm Is Helping Businesses Save in Bitcoin

www.coindesk.com2 hours ago
0

Crypto-winter will give way to real innovation in the cryptocurrency industry, says Reddit Founder Alexis Ohanian

Feb 22, 2019 3:30 PM +00:00
0

Alexis Ohanian, the founder of Reddit and Managing Partner at Initialized Capital hailed the cryptocurrency industry, stating that the “nascent” industry is still growing despite the prolonged “crypto-winter.”


In an interview with Yahoo Finance, Ohanian discussed Reddit’s ongoing development, censorship within social media websites, regulation of the internet and the volatile cryptocurrency market. The interviewer, Yahoo Finance’s Andy Serwer described Ohanian as a “firm believer” in cryptocurrencies.


Since the collective market cap touched $800 billion, marking the conclusion of the crypto-boom, the market has suffered under the bears. Its collective market cap has fallen to its present value of $134 billion. Acknowledging the “crypto-winter,” Ohanian said,


“This is the crypto-winter, no doubt.”


Ohanian referenced Coinbase’s Brian Armstrong, who said that the current market sentiments are the “spring of crypto innovations.” With this statement, Armstrong meant to suggest that the price depression weeded out investors and speculators, the ones that were in the market to make a ‘quick buck.’ According to him, the ones remaining are the “true believers.” These believers are the ones that will build the infrastructure for this industry, Armstrong said.


While agreeing with Armstrong, Ohanian said,


“They are actually builders, they are actually building the infrastructure that is going to take to really make this happen.”


Despite some reservations about the industry,  Ohanian stated that these problems will be solved by the people that remain after the prices have declined.


“Some of the smartest people I know in tech are working on solving these problems, they’re building companies that are built on the blockchain. The hype is gone, the fervor is gone, but I think that’s a good thing.”


Ohanian is a long-time supporter of the cryptocurrency community, investing in Coinbase through Initialized Capital back in 2011. The Reddit founder added that he was willing to bide his time and allow the virtual currency industry to grow. He said,


“We’re very comfortable having a long world-view on it, because this kind of an infrastructure shift will take lots of time, and we knew that going into it.”


JP Morgan’s surprising entrance into the cryptocurrency realm with their dollar-backed, “JPM Coin,” was also mentioned by Ohanian. He added that Morgan’s CEO Jamie Dimon’s complete U-Turn from calling Bitcoin [BTC] a “scam,” to launching a digital asset was a sign of things to come.


He stated,


“These are just more indications that there is real innovation that is happening, now that all the wild speculation is gone.”


Ohanian closed by offering a piece of advice to investors in the “nascent” cryptocurrency industry,


“If you’re investing in it (cryptocurrencies) in the first place, you really should’ve been thinking long term.”


Earlier in 2018, the Reddit founder had made a bold price prediction, stating that Bitcoin would reach $20,000 while Ethereum [ETH] would trade at $15,000 by the end of the year. However, the dawn of the crypto-winter proved him wrong.


The post Crypto-winter will give way to real innovation in the cryptocurrency industry, says Reddit Founder Alexis Ohanian appeared first on AMBCrypto.

Share This Article


Get the most out of CoinFi News!

Save coins into your Watchlist and be the first to know about the latest market moving news.