All Things Cryptocurrency Interview with Bitses.org Co-founder Demir B. Yilmaz

The one and only Demir B. Yilmaz

Can you talk a little bit about who you are and what you are doing?
I have a startup background. Never had a job, never plan on having one. I liked doing projects before I discovered this whole startup scene. Though it has been many years since I’m a part of it. Startup, in my point of view is fun. I’m always happy to work on the next problem. I’m currently working on a few projects simultaneously. I’m managing a cryptocurrency fund. I’m giving advisory to crypto related companies. I’m building a crypto-only exchange. Lastly I’m building a crypto research platform.

What do you think cryptocurrencies mean for humanity as a whole?
We’ve had many protocols since the dawn of internet but the first working currency protocol came in 2008 with Bitcoin (after 15 years of trial and error). It is just the next phase that we’re going through. This phase is exciting because it has a chance to change how we look at protocols as a whole. We may need to switch all existing protocols once we understand better how it could all work. I believe this technology will create a new investing culture where startups will grow 1000x in count.

Why should a company issue coins — what are the benefits of doing an ICO for them?
If they can get their token-economy right they can raise a lot of cash easily propelling their company.

Why should a person invest in cryptocurrencies?
They should not. It is an option. A very good one. Eventually every person who is connected to the internet will use cryptocurrencies. I believe the majority will use stable tokens so investing will be risky and they might not get the return they expected if they invest without deep research.

What are some coins that have the potential to go up 100x in value and why?
All of them. The market will grow. Maybe not bitcoin because it is already too big. But all of the others have that potential. Even the coins that probably won’t work at all like XRP & EOS has the potential to go up 100x before collapsing to dust. The market is speculative so I urge to be cautious.

What are some coins that are good for income investors?
There are no good coins for income investors at the moment. The speculation dynamic of the market has the potential to kill such coins. But if I were to name a coin I’d say BNB since Binance is the first company who has figured out their token economics & have successfully implemented it. But overall I don’t believe there will be good coins for such investment in 2018. Maybe in 2019–20.

What are some interesting and unexpected developments you have noticed in the space in the last month?
Stable coins are coming. They are coming fast. It won’t take us 3 years this time. But probably months or maybe a year before we have some good stable coin system.

What are some current obstacles to adoption and what would increase adoption of cryptocurrencies?
Stable coins. We need them asap. The most important reason why merchants don’t accept Bitcoin or Ethereum is because they are too volatile.

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