CoinFlex CEO Mark Lamb Discusses Bitcoin Adoption and the Current Crypto Market


Mark Lamb, the CEO of the crypto startup CoinFLEX; talked about the cryptocurrency space and Wall Street during a conversation with NewsBTC.

One of the things he said is that Bitcoin (BTC) experienced a fast bear market and it could eventually experience a fast move upwards in the future.

Mark Lamb About the Crypto Market

Bitcoin has been in a bear trend for over a year, and investors are trying to understand what will happen in the future with this digital asset.

Although the bear market has been very harmful, it has also been very positive in many cases because it cleans the space from scammers and fraudsters.

After this bear trend, there are long-term adopters, builders and also those users that have been holding their coins for long periods of time.

Lamb said that users should have a long term horizon since the winter period could eventually last 18 more months and prices could keep falling in the near future. About it, he mentioned:

“I tell people who want to buy Bitcoin that they should always be not afraid of it going down by 50%, as that’s always something that could happen. But long-term, it is basically the most amazing form of money that the world has ever seen. So I’m psyched about the long term.”

He then was asked whether he would follow the phrase that Anthony Pompliano, the co-founder of Morgan Creek Digital, uses to say “Long Bitcoin, short the bankers.” Lamb explains that he works with bankers and traders from the financial industry. Thus, he would clearly long Bitcoin and short the “fiat currencies.”

Mark Lamb explained that he found Bitcoin when he was learning about the nature of money. He then mentioned that he discovered the “most amazing thing” in his life and started to learn about it and more.

The first cryptocurrencies that their exchange is going to launch are Bitcoin, Bitcoin Cash (BCH) and Ethereum (ETH). He mentioned that he is in love with these three coins. Each of them has a unique advantage or feature.

Bitcoin Cash is Bitcoin with on-chain scaling. Bitcoin has the lightning network (LN) that will allow it to scale in the future to thousands of transactions per second. Meanwhile, Ethereum provides users with smart contract capabilities.

According to Lamb, it is currently very difficult to spend virtual currencies or sell crypto. This is why he believes adoption does not grow as expected. Another issue he discussed is earning in virtual currencies. People have to get paid in cryptocurrencies to increase adoption.

CoinFLEX is the first physically-delivered cryptocurrency futures exchange in the world. With physically delivered crypto futures, it is possible to reduce and prevent market manipulation of the more illiquid spot market.

He mentioned that the intention is to onboard retail investors and institutions as well. As Lamb explained, there are several institutions that are market makers involved in the CoinFLEX space. At the moment, they are trying to compete against BitMEX, ErisX, OKEx, the Chicago Mercantile Exchange (CME) and also the Intercontinental Exchange (ICE) backed platform Bakkt.

Lamb has also talked about the relationship between futures contracts and the price of the most popular digital currency. There were several individuals that said that futures markets pushed the price of Bitcoin down in 2017 and 2018. However, he thinks that Bitcoin and other digital assets were overpriced at that time and that BTC reached $20,000 because of speculation.

About stablecoins, he said that Tether (USDT) did an amazing job in creating something that did not exist yet. With it, it was possible for exchanges not to use banks and start to offer users a way to hedge against crypto volatility.

Exchanges do not have to deal with financial institutions providing services to them, which is usually something very complicated for firms operating in the crypto industry.

He has also mentioned that he is not concerned about the controversies related to Tether and that it is solvent. He explained that he talked to Bloomberg and they have verified that they have the necessary reserves to back the coins that they have launched to the market.

https://bitcoinexchangeguide.com/todays-top-cryptocurrency-predictions-btc-eth-eos-and-xrp-technical-analysis/

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