1 year ago
The co-founder of peer-to-peer trading level Paxful, Ray Youssef, reiterated his BTC-only stance during a conception astatine Africa Bitcoin Conference.
In the aftermath of galore scandals that person rocked the crypto manufacture this year, capitalist sentiment toward integer assets is astatine a debased point.
However, Youssef took the signifier to constituent retired nary of the scandals subordinate straight to Bitcoin, and, dissimilar FTX and Celsius, to sanction a few, Paxful is not engaged successful “hanky panky oregon dodginess.”
Africa Bitcoin Conference
Africa Bitcoin Conference is hosted successful Ghana’s superior Accra and marks the archetypal lawsuit of its benignant connected the continent. It opened contiguous connected Dec. 5 and volition tally until the 7th. The league sets retired to beforehand Bitcoin for Africans successful a bid to hasten wide adoption.
“We are Africans from assorted parts of the continent who judge successful the Bitcoin gyration and are gathering a question to bolster its adoption.”
Over 60 speakers are scheduled to instrumentality the signifier successful the three-day event, Notable speakers see erstwhile Twitter CEO Jack Dorsey and Strike CEO Jack Mallers, among galore others.
Reporting from the event, CNBC’s Technology Reporter MacKenzie Sigalos pointed retired that a cardinal talking constituent is the FTX scandal, and however it highlights however Bitcoin is antithetic from altcoins.
“We’re going to beryllium proceeding from immoderate of the biggest names successful Bitcoin, who really spot the caller implosion of FTX arsenic different illustration that sets Bitcoin isolated from the thousands of different altcoin projects and crucially from these centralized crypto platforms.”
Due to the increasing realization that Bitcoin is much secure, reliable, and decentralized than different offerings, Sigalos said sentiment towards it remains positive, contempt the dominance of antagonistic headlines successful the media.
Youssef warns of Ponzi altcoins
Speaking astatine Africa Bitcoin Conference, Youssef sought to item the benefits of Paxful, saying the level lone facilitates genuine peer-to-peer transactions with nary engagement successful risky and unethical practices specified arsenic borderline trading and front-running customers.
“The beauteous happening is, there’s nary front-running, there’s nary back-running, there’s nary borderline trading, there’s nary leverage, there’s nary hanky panky oregon dodginess happening. This is existent commercialized betwixt people.”
He besides pointed retired that Paxful takes Bitcoin acquisition seriously, adding that helium “is sick and tired” of dealing with the aftermath of rugs and scams. Youssef sees acquisition connected the substance arsenic an violative strategy to antagonistic the Ponzis.
“We’ve invested successful acquisition heavily, it’s precise important, why? Because we don’t privation people’s archetypal vulnerability to Bitcoin being “oh man, did you perceive astir this latest crypto? let’s get in.” These are each Ponzis.”
Post-FTX, on-chain analysis revealed that Bitcoin hodling, particularly successful the cohort of investors who bought betwixt 1 and 2 years ago, has trended upwards, suggesting BTC investors proceed to judge contempt wider marketplace pressures.
The station Paxful co-founder Ray Youssef warns of Ponzi altcoins astatine Africa Bitcoin Conference appeared archetypal connected CryptoSlate.
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