Civic Blockchain ID CEO Vinny Lingham Says Bitcoin is a Threat to Government’s Money Printing Process
With the cryptocurrency market follows the same path as a capital market where the security prices hinge on certain fundamentals.
However, amid the present volatility amongst the cryptocurrencies, Vinny Lingham, Blockchain entrepreneur and industry advisor said in his statement that ‘Cryptocurrency prices will surge again but it will take some time” as on 21st October.
He added: “Cryptocurrency markets need time to regain previous volumes, arguing that the market’s priorities have shifted with the entire world is waiting for utility when people will actually start to use the cryptocurrencies.”
In June 2017, Lingham circulated a statement saying that “Bitcoin was better money” than Ethereum (ETH). Amid this, a similar prediction was made by Lingham recommending the entire crypto community to be patient by holding ‘wait and watch’ approach to see the Bitcoin prices grow and eventually the prices grew manifold.
“Even though we are about a decade into blockchain technologies, we are still in the infancy. Primarily the number one use case for cryptocurrency outside of money transfers is trading. It’s mostly a speculation game,” he said.
Lingham also said that governments globally are poised to push back against Bitcoin (BTC), as it threatens their ability to make money. The investor also added that central bank-issued cryptocurrencies are expected:
“Every country will issue their own cryptocurrencies. Many countries will. And that will become interesting. And that is going to happen.”