Tone Vays: "Privacy should be a standard feature of Bitcoin"
Tone Vays is one of the best known names in the crypto industry. He is involved in the room in early 2013, and has taken an active role in promoting crypto cassettes as a means of achieving financial freedom.
Working on Wall Street for over 10 years at Bear Stearns and JP Morgan Chase, Tone witnessed the first-hand financial crisis that formed the Bitcoin in 2008.
In several documentaries, including Magic Money & Bitcoin ̵[ads1]1; Beyond the Bubble Tone is now an independent content creator on ToneVays.com and on its YouTube channel focused on good finances and finances.
We talked about threats to Bitcoin, the set, STOs and his bitcoin price prediction by the end of 2019.
What do you do about the growing LocalBitcoin volumes in Venezuela?
] Not much … Many of the charts show the LocalBitcoin volume in local currency that devaluates, so these charts look very impressive, but if you convert to USD, I don't expect it to be so high . One of the reasons is that in countries like Venezuela, people don't have much money, so the impact on Bitcoin with $ 100 in savings will be small.
What do you think is the greatest threat to the existence of bitcoins?
In 2014, I wrote a blog post titled "What is the biggest threat to Bitcoin?" My answer is then the same as there is now "misinformation". It's a lot worse today, as we now have people who think Bitcoin Cash or Bitcoin SV is Bitcoin and Ripple & Ethereum's audiences are trying to convince the world that their useless tokens are better than Bitcoin. The second largest is likely to be a global government training with most developed countries that criminalize people for anonymous Bitcoin transactions.
In your lifetime do you think we will see: Central banks hold bitcoin in reserve? A collapsed state economy takes "bitcoin standard" instead of dollarization?
Yes, I believe that in my life both events have a greater than 50% chance of occurring. One of the reasons I continue to HODL my bitcoins even in a bear market.
Would full anonymity damage bitcoins mainstream adoption due to regulatory pushback?
Yes, as much as I am a fan of anonymity in Bitcoin, and even think it should be a standard feature, I also think that being easy to choose anonymity should be easy. There are many features that do not require anonymity, and the future of Bitcoin will be brighter if it is said that one day's tax revenue is being led through the Bitcoin network with full transparency. In addition, while Bitcoin is still growing, it makes it less confrontational with governments without full anonymity at the moment.
Are you excited about the etiquette and what do you think it can do for bitcoin?
Very excited. It would allow Bitcoin to be used instantly, privately and cheaply on sub-penny scales. The implications of this are huge for mass approval. It will also mean that all other Crypto currencies are not required to increase payment efficiency.
Do you like long-term technical analysis based on bitcoin halving cycles?
I am not a fan of the half, they create crazy shocks to the ecosystem and the miner's profitability. During the last half I was able to analyze that the price would start to rise 3-6 months before halving. I think this year it will do the same, but it's not an ideal situation. I believe in time analysis and long-term cycles in general, which have also helped me predict some interesting turning points. One of these critical dates is October 5, 2019, let's see what's going on.
What is your bitcoin forecast for the end of 2019?
I'm looking for the price to be close to $ 5000, and Bear Market has already completed. But it is really impossible to predict, and why do I continue to make videos almost daily to keep my followers up to date on my thinking.
Do you think that STO has a legitimate use case or are they another bubble like ICO mania?
The only difference between STO and ICO is that one might have regulatory approval, so it should be much less direct fraud. But, just like ICOs, they will be built due to uncertain and technologically unaffordable centralized platforms funded by ICOs back in the day. In addition, 98% of the ICOs / STOs I have looked at are for completely useless projects. I can't find the STO or Stable Coin room especially interesting, and don't expect another hype bubble like in 2017. I hope people have learned their lesson.
Of all the scams in the crypt, what do you mean the most obvious, despite popular beliefs to the contrary?
Probably Ripple and its clones like Stellar. It is a completely useless token that has no reason to exist. Other candidates or tokens who were Proof of Work (PoW) for a month or two so that the insiders can collect a bunch of them, then convert the token to Proof of Stake (PoS) or discover Masternodes so that with the first access to the token get to do infinitely more of the token. Example of these tokens are TokenPay (PAY), Steemit (STEEM), Dash and soon.
Are there any trends in the crypto industry that you are particularly interested in?
Yes, I'm waiting for Bitcoin to disconnect from other cryptos so that when it starts to rise in price and other tokens like Ethereum, Litecoin, Monero and the rest continue to fall or become flat, I want to know that Bear Market is over. I am also looking for instability in the fiat system with Bank Shutdowns like Greece in 2015, Cyprus Confiscation in 2013, Fiat Bill Cancellations as in India 2017 and a General War on Cash via AML Laws. The more government fights people's ability to spend money, the more likely Bitcoin will thrive.
What are your plans for the coming year?
I will continue to spend the year educating people about Bitcoin. It's my passion in this room. Sure I will continue to teach people how to be better traders, but that's just how I earn. I will continue to focus on my YouTube channel and conferences as Unconficatable. I'm really looking forward to Malta's 5th-7th Conference. April, called Understand Bitcoin where we will get Bitcoin developers who educate the average user who may not even be technical on how to make the most of using bitcoins.
