BTC is a Pin, not a Bubble, BTC Foundation Founder Says

Jon Matonis thinks it's great that big banks are getting interested in crypto
02 April 2018   1092

Co-founder and CEO of Bitcoin Foundation Jon Matonis sure that the fears associated with the "bubble" of cryptocurrency are unreasonable. On the contrary, this is just the stock markets are always artificially "inflated" by central banks, he said in an interview with Business Insider at the Innovate Finance conference in London earlier this month.

To the people who say bitcoin’s a bubble, I would say bitcoin is the pin that’s going to pop the bubble. The bubble is the insane bond markets and the fake equity markets that are propped up by the central banks. Those are the bubbles.

Jon Matonis

Co-founder and CEO, Bitcoin Foundation

He is confident that now the economy is moving away from "legal currencies managed by banks", decentralized assets like bitcoins support this shift.

Prior to the Bitcoin Foundation, Matonis was a trader in the Japanese bank Sumitomo and Visa. Non-profit organization was founded to support core-developers of bitcoin-protocols. Matonis was on the foundation's board from 2012 to 2014 and to this day holds the post of executive director.

Despite skepticism about the existing financial system, he is sure that it's great that big banks like Goldman Sachs are showing increasing interest to the world of cryptocurrency.

They’re going to develop futures markets, options markets, I even think you’re going to start to see interest rate markets around bitcoin. We’re used to hearing things about Libor, the index for bitcoin interest rates is Bibor.

Jon Matonis

Co-founder and CEO, Bitcoin Foundation

According to him, regulators around the world are trying to find a "common language" with cryptocurrencies, and in the UK they recently announced the creation of an appropriate work group.

I think we should operate in an environment of caveat emptor, let the buyer do his research. This hopefully has forced a lot of investors to do more research. No one is forcing them to invest in ICOs [initial coin offerings]. If you’re worried about the risk, just walk away.

Jon Matonis

Co-founder and CEO, Bitcoin Foundation

In May last year, the executive director of the Bitcoin Foundation, John Matonis, joined the nChain blockchain company. 

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   108

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.