The blockchain/crypto week in quotes

Here are the comments and tweets that caught our eye this week

“The only thing gold has over Bitcoin is a 3,000 year head start.” Tyler and Cameron Winklevoss

“Growing political tensions around the globe  – from riots in Paris, to Brexit strife, to tumultuous elections in Brazil and the US’ own government shutdown , will continue to create instability and uncertainty. As trust in the security of sovereign powers continues to come into question, a technology that isn’t reliant on the strength of nation states or their fickle leaders will become more appealing. 

Today, people around the globe face great institutionalised and systemic barriers to freedom through censorship, exclusion from the financial system, and a lack of economic opportunity. Over 1.7 billion adults remain unbanked. As much as 50% of the world’s population lives under an authoritarian regime. In 2019, decentralised technologies will capture minds around the globe, not as a speculative way to get rich quick, but as a solution for all people regardless of citizenship to transact, express ideas, and prosper.” ConsenSys’ Andrew Keys

“Whilst we can expect 2019 to be dominated by a considerably more bullish sentiment than in 2018 across the major digital assets, I think it is likely that Ethereum will be the standout winner this year for three key reasons. First, the hard fork will mean Ethereum miner rewards fall from three ether to two and decrease the block time, resulting in a faster network. This is a key part of a major Ethereum upgrade and the markets are excited.

Second, oracles. Oracles – data feeds that deliver information into the smart contract from third parties – will inevitably drive adoption of Ethereum smart contracts. This is because smart contracts using decision-making on real-world metrics can be expected to find relevant use cases among consumers, firms, and organisations, amongst others. And, of course, as adoption and utility of Ethereum smart contracts increase, so will Ethereum’s price.” Ian McLeod of Thomas Crown Art

“We cannot relegate cryptocurrencies to being used only by bad actors who would subvert American progress. Instead, we should focus on facilitating all the benefits that blockchain and cryptoassets stand to provide. That starts with clarity; lawmakers and regulatory officials should be working together to ensure that cryptocurrencies are not wrongly and hastily categorised under decades-old securities law, but instead are allowed to thrive under sensible new regulation.” George Nethercutt Jr., Founder and Chairman of The George Nethercutt Civics Foundation and was a Republican member of the U.S. House of Representatives from 1995 to 2005

“Cryptopia marks the first exchange hack of 2019, but it almost certainly won’t be the last unless exchanges change their security practices. An alarming number of exchanges continue to store large quantities of their funds in hot wallets. This means the private keys needed to sign transactions are maintained in a system connected to the Internet. While this makes fund access more convenient, it also leaves them far more vulnerable to hackers.

Until this is addressed, we will continue to see eye-watering losses splashed across headlines. Exchanges need to take a far more professional stance when it comes to making decisions that swap security for convenience, or risk losing not only investor funds, but investor confidence.” Gavin Smith, CEO, Panxora

“ErisX has a unique position in the market with support from a wide range of investors as well as experienced leaders at the helm. I look forward to bringing my experience with decentralised technologies and digital assets to a model that will further democratise access to digital assets. 2019 is likely to be a breakthrough year for digital assets, and the exceptional ErisX team is poised to lead.” Joseph Lubin, Founder of ConsenSys

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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