Simon Cocking: cryptocurrencies will hold value better than fiat currencies.
China, South Korea, Japan, Singapore, these are all strong crypto investors, traders and supporters of crypto currencies in general. It’s an exciting time, Asia is an important part of the world to watch.
At the moment, the issue of the legal status of the projects that the ICO conducts is open, and this is a very big problem. Indeed, under the guise of ICO, many scammers are engaged in “embezzlement” of funds from the population. But, this amateur activity will very soon be over, and we will get the appropriate laws that will make ICO one of the safest types of investment.
According to some sources, in 2018, China can legalize all processes related to crypto-currencies. And if this happens, then we will see a sharp increase in the market of crypto currency. In the meantime, you need to be more careful when choosing projects that are conducted by Initial Coin Offering.
Advantages of ICO
In buying ICON tokens there is a charm, because when you make a purchase, you acquire a digital asset at a lower price. In case the project that owns the tokens of which you are, produces a furore on the market, the cost of its tokens, can grow tens of times, thereby you get a big profit.
The most popular tokens of 2018 are: Waves; EOS; OmiseGo; VeChain
But how to make a choice and not make mistakes in tokens, today we’ll talk with mr. Simon Cocking, the No. 1 rated Expert on ICObench and Senior Editor at CryptoCoin.News.
- Hi Simon,
- Recently, Vitalik Buterin said that 82% of ICO are fraudulent projects. You, as an expert on ICO, can clarify the situation, what is the real picture?
- Good question, difficult question. 82% seems a very precise figure - I’d wonder what the methodology was.
Is he right? Who knows exactly but he is a very smart guy! However I’m glad to say that this figure is not an accurate % of the ICOs that I advise thankfully. The marlet is maturing fast, and with white listing, KYC, AML and many other best practices now becoming standard it is now harder for scams to succeed, and easier for those investors that due their due diligence to avoid potential bad investments.
- It is very profitable for an investor to invest at an early stage buying a currency. But the investor is also interested in the guarantee. If China legalizes all processes with crypto currency, then this will become a legal and reliable earnings. Do you think we will see a return to the Chinese market for crypto currency exchanges?
- Yes, and some would say that the Chinese market never stopped trading, they just found other ways to do it at the moment. China, South Korea, Japan, Singapore, these are all strong crypto investors, traders and supporters of crypto currencies in general. It’s an exciting time, Asia is an important part of the world to watch.
- The peak of popularity of crypto currencies is already behind. In one of your interviews, you stated that Bitcoin would cost $ 100,000 and more. What steps are necessary for the next growth of the crypto currency, what would bring Bitcoin well, at least to 30k?
- I quoted John McAfee who said BTC would rise to those levels (and beyond). Editorially we try to ensure that we don’t just write articles about the price of bitcoin, and it’s rise and fall. Blockchain based technologies and ICOs is so much more interesting and potentially transformative. Overall cryptocurrencies are rising in value because they have the potential to be less volatile once things settle down, and also because they will hold value better than fiat currencies.
- We see that after the ICO, many coins are lost sight of and projects are being closed. What can you give advice to an investor before buying coins, what should you pay attention first?
- Research the team, the product, the stategy, the white paper, talk to them via the telegram group. Do your due diligence.
- What coins do you recommend to pay attention to in 2018?
- Invest in those that you understand, value, appreciate and have an interest in - not because of FOMO or because you want to get rich fast!
– You join SID-Board Advisory, how would you assess the importance of SID technology? And is there an application on your mobile phone?
– The reason I joined SID´s Board Advisory was three fold, first because they had a product already released to end-users which I could download on my smartphone and secondly the company mission of “helping the needed” which is giving something back to society was close to my heart and third and lastly because of the composition of the team with a great mix of experiences from software to multinational exec experience which is needed in a start-up.
– You are a journalist, writing about technology and about crypto currency, what are your predictions about SID’s intentions to issue a crypto token? And what you give advice to Jose Merino in his work?
– The modest advice I give is in my field of expertise, on what to avoid just as much as on what worked in my experience as Board Advisor on many past ICOs. Occasionally a simple motivational Skype talk as I had with Jose of almost 40 minutes also helps. Now that paid crypto Ads are banned by almost all mainstream traditional online services, I feel a lot more weight on my shoulders from the companies I Advice, and SID is no exception. Jose Merino of SID does keep regular communications with me specifically on promoting or publishing the material the SID team prepared for the Whitelist phase on www.ShareInternetData.io and I except this only to intensify during the up and I expect this only to intensify during the up and coming actual ICO Token sale phase.
Thanks for the interview.