Coinbase co-founder Fred Ehrsam has stated in an interview with Bloomberg TV that 90% of NFTs will be worthless and that people should not look down on Dogecoin. Ehrsam has also described decentralized finance as the “cutting edge” of the world and said there is a danger that the United States will make a mistake in regulating bitcoins. He also added that Microsoft and Tesla bosses Bill Gates and Elon Musk should reconsider their criticism of bitcoin’s energy use.
Regarding the large number of cryptocurrency projects that currently exist, Ehrsam has said that people are going to try all kinds of things and that there will be billions of active cryptocurrencies and crypto assets, just as there are millions of sites today. web on the Internet.
The world of crypto, a new door
He has assured that most of these projects will not work. As for the NFTs, he has ensured that in three to five years 90% of these will cease to have value. He has also ensured regarding the famous Dogecoin cryptocurrency, that if cryptocurrencies have taught us anything, it is that we must never underestimate a meme that in the future may manifest itself in other specific processes.
“What really changed in 2017 is that the doors suddenly opened to much broader applications. Ethereum came on the scene and showed that it was possible to build blockchain-based applications. I think over time we will see mainstream consumer applications, and perhaps NFTs are a strange advantage of that. ” Ehrsam has assured speaking about decentralized finance.
On regulation, he has assured that he believes that the United States is wrong about cryptocurrencies, since he believes that cryptocurrencies are the new opportunity for the United States, ensuring that today there are many regulators whose job is to mitigate risk and keep us all safe. , which is appropriate.
Opinion on the criticisms of Elon Musk and Bill Gates
Regarding the criticisms of Elon Musk and Bill Gates, he thinks that it is understandable that there is confusion on this issue, but that they should look further at the problem. His personal vision is that there is going to be more energy efficient to use these valuable digital systems.
“The world doesn’t change overnight, but you can already see the seeds of exponential growth. So I think we will live in a future where, to coordinate, we will not need these centralized platforms today. That is already true. Financial services, as it can be your own bank. You no longer need a central institution to hold your money, “said Ehrsam about the potential of crypto technology. Finally, he assures that there is still a lot of history to write and that the world of crypto is a great place to start.