The risks associated with bitcoin and the entire cryptocurrency market, in general, have been a topic that has been discussed several times following several new malicious practices and the fact that privacy and security have become a primary focus among developers.
In a recent interview with Peter McCormack, Tuur Demeester, Founding Partner at Adamant Capital, spoke about the importance of exchanges’ privacy parameters and its effects on its holdings. Demeester stated that markets have a great ability to prove people wrong in the long run.
This was said in connection with the fact that bitcoin’s performance over the past few months was directly contradictory to the bearish predictions given by analysts. The Adamant Capital exec went on to say,
“There is no retail gambler, it is more like professional traders. The retail investors don’t care about technical indicators but rather they care just about the profits. Another aspect of the research I conducted on bitcoin was about risk analysis and whether all the hacks and attacks happening with cryptocurrencies has actually affected the market.”
According to Demeester, several exchanges, both big and small, were “hot in terms of security and privacy.” He opined that sometimes, customers should consider security features of exchanges, rather than just looking at how long the organization has thrived. In his words,
“I understand that it is important how long an exchange has lasted; the years of experience naturally would have led to some learnings. But unless the security features are up to the mark, there really is no purpose. Because once your coins are hacked, they are gone forever.”
Another point stressed on by Demeester was regulations and how policies are forcing people to liquidate their assets. He also cited his own positive comments about bitcoin made recently, when he said that the world’s largest cryptocurrency will finally get larger market exposure in 2019.
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Published at Fri, 10 May 2019 07:48:56 +0000
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