Ethereum Co-founder Envisions Bright Future for Cryptocurrencies Amid Bullish Market
Summary:
Ethereum co-founder Joe Lubin expressed optimism about the cryptocurrency's future at the ETHDenver event. During a chat session, Lubin discussed issues like the ongoing “super cycle”, the prospect of a BTC and ETH exchange-traded fund (ETF) for regular investors and developers, and the increasing need for industrial decentralization. He emphasized that crypto was birthed in an era of free money but in a phase of controlled money. Lubin also spoke positively about the impact of Bitcoin and Ethereum ETFs on the community. He also shed light on the growth of crypto in the US, pointing out that despite strict laws and regulations, the rising momentum of cryptocurrencies is unstoppable.
A strong bullish tendency seems to be prevailing in the crypto market, a sentiment concurred by a majority of people at the ETHDenver event, even if it doesn't strictly meet the technical standards for a bull market. Joe Lubin, Ethereum co-founder and the CEO of Consensys, also shares this positivity, envisioning a bright future for cryptocurrencies. During the recent chat session -“What will drive the next super cycle"- held on Feb. 29 under the moderation of Axios reporter Crystal Kim, Lubin expressed his viewpoints on the ongoing “super cycle”, the prospect of a BTC and ETH ETF for ordinary investors and developers and the pressing necessity for industrial decentralization.
Presenting his thoughts on what would trigger the subsequent super cycle – meaning a prolonged economic surge generally brought about by a hefty growth in public demand for commodities and services - Lubin stated, “We are witnessing a 4th turning, and are geared up for a fresh world order. Another perspective is that it resembles a monetary super cycle wherein the worldwide monetary frameworks reach their practical end due to excessive debt resulting from accrued interest and financial system fragmentation.”
Emphasizing on the inception of crypto in “an era of free money”, Lubin clarified that its birth contrastingly took place in a phase of restricted, controlled money and hierarchical supervision. He further elucidated that humans have been surviving in a system of centralized trust and authority for thousands of years that imparts a set of capabilities to intermediaries that in turn manage world affairs by supervising databases or ledgers deciding property ownership and entitlements. “Decentralized trust”, as opposed to the conventional centralized one, was an extraordinary innovation introduced by Satoshi”, says Lubin.
Speaking of Bitcoin and Ethereum ETFs and their impact on the community, Lubin underlined that their pros and cons could be debated, yet as an immediate impact, it would be promising. He added, “The dam has finally broken and there’s a deluge of value being directed towards the crypto ecosystem. The bright side is the increased difficulty for administrators and politicians to tamper with people’s portfolios, which will attract more investments towards our ecosystem.”
Regarding the possibility of crypto flourishing in the US, he stated that the stringent posture maintained by the US lawmakers and regulators has been a considerable setback for crypto growth. However, its future doesn't necessarily depend on the administrative discretion, given the rising momentum which is far from waning. Lubin concluded by expressing his desire for a more decentralized governance model in the US.
Published At
3/2/2024 7:57:23 PM
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