Ask Coindirect CPO Stephen Young Anything About Cryptocurrencies

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rpm

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#1
Stephen Young is the co-founder and chief product officer at Coindirect. He is an experienced financial professional who has been building products in the financial market for twenty years.

We are giving you a chance to ask Stephen anything about cryptocurrencies, crypto exchanges and blockchain technologies.

He will select the best questions to answer, and the top questions will win an Amazon Echo and other great prizes.

There are some basic Ask Anything rules. A summary:
  • One question per post. If you have multiple questions, use multiple posts.
  • No personal attacks
  • No support questions
  • No unsavoury questions
  • No trolling
  • No “Why don’t you answer my question?” posts
  • Keep it clean and civil, and ensure the discussion is constructive
Please post your questions in this thread. Stephen will select and start to answer your questions at 12:00 on Wednesday 22 August.
 

rpm

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#2
With the volatility in the cryptocurrency market over the last year, do you think there is still enough trust in cryptocurrencies to keep the momentum it created in 2017?
 

rpm

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#3
Do you think there should be more regulation in the cryptocurrency market, especially in South Africa? Will increased regulation bring more trust to cryptocurrencies?
 

wizardofid

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#4
Bill Gates mentioned recently that cryptocurrency is in general risky, especially because of the anonymity related to crypto.Finding money that was used in illegal activities, like money laundering for example or tax evasion, it is a huge issue, crypto has made it far easier to buy and sell drugs, it also made ransomware attacks easier and far more frequent.While you could physically do these things with cold hard cash.

How does one regulate crypto with keeping anonymity intact and cut out illegal activities in part or entirely. ?
 

AfricanTech

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#5
Established financial institutions view crypto currency with great suspicion and actively advise their clients not to invest. How is the crypto industry going to address this suspicion and improve credibility?
 
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#6
With traditional currencies and items of value (shares, bonds etc) there is an inherent value to the item. Where is the inherent value in Cryptcurrencies? ... and without an obvious inherent value can cryptocurrencies ever be a stable and trusted "currency"?
 

gmcorrea

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#8
With Bitcoin's biggest weakness, its small number of transactions per second, being addressed by the Lighting Network implementation, do you still still see a future for Altcoins?
 

1-Up

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#9
With Luno an already well established and trusted exchange in SA, the threat of regulation and taxation by SARS and the recent slump in cryptocurrency prices, is Coindirect keeping afloat in the SA market and do you see good growth in the future?
 

FlexSA

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#10
Crypto Currencies were started as a means of trading without a middle man with instant transactions. But it seems it has not become that at all, MOST people buy en hodl coins hoping they climb in value and view them as an investment instead of a tool to trade. Why is this? And will it continue to go in that direction of being an "investment" ?
 
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#11
If we were to fast forward ten years in a hypothetical world where cryptocurrency was generally accepted at online and physical retail, what kind of wallet do you think would have the most traction amongst general consumers? Would we all use mobile wallets through our smartphones, walk around with hardware wallets, or use paper wallets or even payment cards?
 

saor

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#12
Why does Coindirect have no stop-loss orders? Surely a wider range of trading tools attracts more traders = more liquidity? Sometimes it feels like there's two kinds of exhanges:

●Those that act like a market for buying some digital asset and the buyer needs to take it off-exchange right away to keep in private wallets.
●Those that act like a trading exchange where assets are often kept on-exchange for trading.

Which kind are you aiming to be?
 

saor

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#13
Do you have any thoughts on where the biggest inflow of investments will be going in the future - store of value or utility?

Do they both have a future, or is there a chance utility tokens garner the wealth and store of value fades away like a piggie-bank you grow out of? Any thoughts on the likelihood that a scarce (tho I sometimes find this point somewhat slippery when everything is fractional) digital asset becomes the next thing like gold and people use it as a store of value?
 
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SteveP

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#14
While I consider lackchain to be vaualble tech with a great future, the cryptocurrencies themselves appear to be just another tuip/south sea "bubble". Their intrinsic value is akin to the paper used to print money today - but hyped up by a restricted supply. This will probably mean that the best "platform" will win out and any future value will be a mere fraction of what speculators think it is now
 

blunomore

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#15
Like so many other average South Africans, I am a newbie in this field; how do I choose a cryptocurrency and how do I know if that cryptocurrency is a good fit for me?
 
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#16
Stephen Young is the co-founder and chief product officer at Coindirect. He is an experienced financial professional who has been building products in the financial market for twenty years.

We are giving you a chance to ask Stephen anything about cryptocurrencies, crypto exchanges and blockchain technologies.

He will select the best questions to answer, and the top questions will win an Amazon Echo and other great prizes.

There are some basic Ask Anything rules. A summary:
  • One question per post. If you have multiple questions, use multiple posts.
  • No personal attacks
  • No support questions
  • No unsavoury questions
  • No trolling
  • No “Why don’t you answer my question?” posts
  • Keep it clean and civil, and ensure the discussion is constructive
Please post your questions in this thread. Stephen will select and start to answer your questions at 12:00 on Wednesday 22 August.
I would like to see Crypo currency regulated and limited as there are way too many and the market is saturated, do you think that is a viable proposition and is it possible?
 

Daruk

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Jul 18, 2008
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37,148
#18
IMO good local exchanges will attempt to address the mystery of Tax implications and practical advice on how to tackle it. Do you have any advice for South Africans IRO managing tax from trading profits?
 

Tim_vb

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Nov 7, 2008
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285
#20
In your view what percentage of the Bitcoin and Altcoin valuation is underpinned by Tether coins?
 
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