Ask Coindirect CPO Stephen Young Anything About Cryptocurrencies

[Lizabeth]

As a novice I bought, thought I could get a "card" to do purchases. Apparently not so. I wanted to sell, was told I need to get a buyer, a washing machine was used as an ex, you buy one, can only sell it if you get a buyer. Unfortunately was under the impression it is like "shares" you buy and sell, trade.. Don't know how to get buyers, as the person who introduced me into buying, is no longer interest to assist me to sell.

 

[RyanPCMR]

What protection will a person have to look for when choosing an exchange for cryptocurrency?

 

[Stephan49]

Your thoughts on the value of Solarcoin in the future?

 

[Chrismc2018]

There is a fundamental flaw with cryptocurrency at this stage.

I have my own company, and I would love cryptocurrency to be the way of payment with customers. Specifically dealing with millennials, as I believe they are the future with digital currency.

But heres the problem, cryptocurrency is only being used as an investment currency. No one anywhere round the world knows how to implement cryptocurrency for an ecosystem, in other words to allow cryptocurrency to organically gain value in a normal market tradition of trade to trade. There is no platform that exists for example cryptocurrency for vehicle financing. Or buying a cup of coffee from a coffee trailer with cryptocurrency.

The only bank so far exploring cryptocurrency in South Africa is RMB but only for investments.

Why is cryptocurrency so disillusioned with an eco system model?

I've approached IOTA, they cant help me, I've approached RMB cant help me, I've approached topl, who claims we are to advanced for their cryptocurrency set up.

The only way for cryptocurrency to work is in an ecosystem.

I can provide the ecosystem I need someone to provide me the platform....who can I talk to?

 

[ceciledeaar]

I bought some kbc coins in July2018. What is your opinion about a Cryptocurrency backed by physical Gold? I was told that this 12million kbc (karatbars)coin was sold in 3months whereas bitcoin has not even sold their 12million yet. Also, the creators of this kbc coin has created a mobile payment system, opened the World's 1st Crypto Bank which allows Bank type services for traders, investors, investment companies & individuals

 

[BONDI]

Hello

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.

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.

Hello!what is real or fake when coming to cryptocurrency and how can one learn and make money trusted way because there are lots of people and companies claiming to know more about cryptocurrency?

 

[dsj]

Good evening! is it possible for a person with very little money and knowledge to ever invest in bitcoin etc?Thank you

 

[ceciledeaar]

There is a fundamental flaw with cryptocurrency at this stage.

I have my own company, and I would love cryptocurrency to be the way of payment with customers. Specifically dealing with millennials, as I believe they are the future with digital currency.

But heres the problem, cryptocurrency is only being used as an investment currency. No one anywhere round the world knows how to implement cryptocurrency for an ecosystem, in other words to allow cryptocurrency to organically gain value in a normal market tradition of trade to trade. There is no platform that exists for example cryptocurrency for vehicle financing. Or buying a cup of coffee from a coffee trailer with cryptocurrency.

The only bank so far exploring cryptocurrency in South Africa is RMB but only for investments.

Why is cryptocurrency so disillusioned with an eco system model?

I've approached IOTA, they cant help me, I've approached RMB cant help me, I've approached topl, who claims we are to advanced for their cryptocurrency set up.

The only way for cryptocurrency to work is in an ecosystem.

I can provide the ecosystem I need someone to provide me the platform....who can I talk to?

Hi. Im not sure if you heard of Karatbars that has an ecosystem and a payment system for Cryptocurrency, has its own Crypto Bank, own Crypto Cellphones and ATM. If you need. If you want to know more, email me

 

[mobxes]

Dear Stepen,
How do you decide whether a cryptocurrency or token is worth purchasing or investing into?

 

[erin0601]

how will cryptocurrencies be viewed in 10 years time?

 

[Mightii]

If cryptocurrencies are this volatile, why then is it worth investing?

 

[Mightii]

With the recent fall in value of crypocurrencies, is it possible for a currency to hit 0 or negative value? and what happens then?

 

[fabrulana]

Are you a Bitcoin fundamentalist or do you believe there is a future for alts, if so which ones and why?
I see Ethereum has been taking a lot of flack recently and EOS can't seem to get it's act together... especially with decent projects like Cardano, NEO on the horizon.

 

[the_dstrbd_one]

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.

Where do you see crypto currency now vs the next 10 years?

 

[bitly]

Do you see DAI and similar market making projects as having a significant impact on the volatility of crypto currencies?

Where do you see the most potential for blockchain applications other than crypto currencies? What are some of the potential applications of the technology you believe hcould have a mainstream impact in the short term?

 

[AntiThesis]

Given the established history of other markets and the reasonable certainty over what is bought and sold (If you buy current futures contracts or stocks, you know what you're buying) and the relative volatility of the cryptocurrency market in general, do you think we'll get to the point where it makes sense to have Crypto derivatives and margin trading?

 

[hongkongpom]

Hi Stephen what are you thoughts on crypto currency mining; both in being a miner or joining a mining company please?

 

[Munki]

What is the limit to the blockchain and the number of Cryptos that will be created? Surely the "global pool" of cryptos will devalue based on the range of choice of coin offerings?

 

[Esbendzn]

I feel that crypto currency is a bit too complicated for the average guy on the street to understand.... is there any way one could explain it in easier terms?

 

[blacky4life]

In emerging markets, which industries will be most disrupted by the implementation of cryptos and how can the leaders in those industries take advantage of the disruption?