Jonathan Herscovici (StackinSat): “The FTX crash is a cataclysm for the crypto ecosystem”.

Jonathan Herscovici is the co-founding CEO of StackinSatto whom we also owe the creation of Surfin’Bitcointhe first European event dedicated 100% to BTC. While the crypto market is going through an unprecedented crisis of confidence since the FTX crash, we wanted to have the opinion of this entrepreneur and bitcoin-lover who doesn’t speak the language. And here at The Blog, we love it, the positions taken. Interview.

While the cryptosphere was already under pressure with the current bear market, FTX’s failure has led to another cannibalistic shock to an already depressed market. What is your opinion on this event that is causing the risk of contagion to the entire crypto planet?

It is very clear: c’est un cataclysme pour l’écosystème, à tous les niveaux. All the promises of performance and of easy enrichment are being dashed by what is coming to pass. The problem is that the human being makes confidence and is very much a suiveur. Il a cédé aux sirènes de l’argent dit facile et aux promesses de rendement à deux chiffres.He should apply the famous maxim “do your own research. “

Il y a également une responsabilité des investisseurs et influenceurs qui parlent de placements financiers sans vraiment détenir toutes les informations nécessaires.or people listen to them and follow their advice. In the world of crypto, and of investment in general, the public is cautious and tends to over-believe people who have a pen on the street or are mediatized and influential.

Let’s not forget that even BlackRock, one of the largest investors in the world, has lost some of its headlights in this story. And it is quite astonishing to say that even an actor of this type had not mentioned his own case. to know precisely what he invested in. C’est d’autant plus incroyable quand on s’intéresse aux déclarations du liquidateur chargé de superviser la faillite de FTX, qui n’avait jamais vu une absence aussi flagrante d’informations financières fiables comme cela s’est produit. The FOMO syndrome (” fear of missing out) has finally threatened to make the situation explode.

Is the FTX explosion the result of a collective or individual responsibility?

It is clear that the first person responsible is the founder of FTX, Samuel Bankman-Fried. Il s’agit là d’une escroquerie, ni plus ni moins. Mais la chaîne de responsabilité est plus large que ça, je ne peux pas croire qu’il ait fait cela tout seul, tellement c’est énorme. Les regards se portent aujourd’hui aussi sur son ex-petite amie, Caroline Ellison, qui aurait joué un rôle de premier ordre.

Il y a également une responsabilité des acteurs institutionnelsbecause even if it is involuntary, they really should have held these “due diligence” proceedings in good and due form. We pourrions également reparler des influenceurs, qui font eux même souvent confiance aux investisseurs institutionnels. On se retrouve donc au final avec une chaine de Ponzi de responsabilité qui s’est multipliée par capillarité, faisant ainsi chuter tout le château de cartes. This is what makes us at StackinSat to constantly repeat this proverb to our customers: “ don’t trust, verify ” (ne faites pas confiance, vérifiez.)

J’espère me tromper, mais je pense qu’on est repartis pour 18 ou 24 mois de bear market. FTX’s weakness could enter that of Genesis and Grayscale. The domains are in the process of taking over one after the other, and the ramifications are still far from being found. It will take time to measure the consequences and impacts of the FTX failure.

In this climate of extreme volatility, being able to adopt the right strategy to invest in cryptocurrencies becomes crucial. However, the drop in crypto investments has been noticeable since the beginning of this affair, not to mention the fact that the bear market had already chilled investors. What is your opinion on this subject?

The extreme volatility of the market at this timet makes me say without hesitation that the Dollar Cost Averaging (DCA) method is the one that allows to better reduce the risks related to this uncertainty. Since people do not know when is the right time to buy, the DCA technique may be the right choice if one thinks that BTC will eventually appreciate and become one day, as I think it will, a new global monetary standard. The initial promise of BTC being totally intact, it est tout à fait pertinent de renforcer ses positions en DCA.

C’est une strategy much more prudent than “buy the dip”. (acheter au creux), because the volatility is such that a person cannot know exactly where the dip will go, especially in view of the extreme tension and volatility of today’s markets.

L’article Jonathan Herscovici (StackinSat) : ” La chute de FTX est un cataclysme pour l’écosystème crypto ” est apparu en premier sur The ₿log.