Emin Gun Sirer argues with Diego Gutierrez-Zaldivar on digital currencies being a good store of value, and Changpeng Zhao crowdsources Twitter for the approaches to trigger another crypto bull run. Richard Heart believes that technical indicators determine the bull runs while the others argue that fundamental changes have to be made to the crypto ecosystem.
Cryptocurrencies a Good Store of Value, Really?
When Charlie Bilello, the director of research at Pension Partners, pointed out that most cryptocurrencies had fallen by over 90% from their all-time highs, to which the Cornell Professor, Emin gun Sirer responded that cryptocurrencies were a ‘poor store of value.’
Sirer completely disagreed, debating that the quality of a good store of value isn’t about the price appreciation. Instead, it’s about having little variance in price movement. The RSK Diego CEO, Gutierrez-Zaldivar jumped into the conversation and hinted that the time frame of evaluation is what determines a good store of value.
A New Crypto Bull Market
With digital currency prices near their lows this year, binance Exchange founder ‘Changpeng Zhao’ took Twitter to brainstorm what it would take to ‘trigger’ the next cryptocurrency bull market.
The responses were like a dichotomy of looking for technical indicators at the prices and calling for fundamental changes to the crypto ecosystem. Cryptocurrency pundit Richard Heart belongs to the former category, articulating that the cryptocurrency prices need to break yet hold over the 200-day moving average.
Fundamental Changes to the Crypto Ecosystem, while Zhao didn’t comment on the technical arguments put forward, he had much to discuss with those who wished to change the way the cryptocurrency ecosystem worked. Lawrence Digital was one such commentator who claimed that 3 fundamental changes to the cryptocurrency ecosystem would usher in the new bull market.
Zhao subscribed with the need for BTC adoption and even pointed out that the bear market was killing off most of the scams in the cryptocurrency ecosystem currently.