SIMON BROWN: I’m chatting now with Ricki Allardice – he’s head of product at upnup. Ricki, I appreciate the early morning time. You sent through [a note] recently around, I suppose, fraud, scams, all the dodgy stuff happening in the crypto space. I remember back when initial coin offerings were all the rage. They seemed to have faded away. Last year it was NFTs [non-fungible tokens] – they’ve faded away.
RICKI ALLARDICE: Yes, absolutely. And you should separate Bitcoin from crypto. They’re not the same. Bitcoin is trying to achieve a very serious thing, which is to build an independent financial rail, which competes in central banking, and it does that very, very well. SIMON BROWN: That’s a good point. I remember in the early days – it wasn’t that early, a decade or so ago, I suppose – when Bitcoin was around. Part of the [premise] of Bitcoin is that only 21 million coins will ever be mined. It’s going to take some time to do that, but it’s a limited supply. Of course, as soon as all the other cryptos and altcoins come, it becomes an infinite supply. That then kind of destroys the thesis.RICKI ALLARDICE: Absolutely. That’s it.
SIMON BROWN: I take your point. You can do all the research that you want essentially as a second job, and at the end of the day you still might not come out.
SimonPB I would say stay away from crypto currency at all 'biggest security problem is syber security!🤔🤔🤔
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