In an interview recently, one of the main cryptocurrency investors in eToro, entrepreneur Jay Smith, expressed his opinion on the cryptocurrency projects that he believes may impact the future and others that, according to him, are simply useless such as: Bitcoin Cash, BSV, EOS and NEO. Smith also told how he entered the cryptocurrency universe and how Bitcoin and the possibility of creating smart contracts impacted his perception of society.
“ Like most people, I heard about Bitcoin due to the price appreciation. But it was efficiency as a means of exchange and the idea that we can have a currency controlled by the community that attracted me the most. I read the white paper a few times and what struck me was the fact that it was like an extension of the “cloud”. Tokens are stored in a book on the internet that no one controls. There really was nothing like that. Since then, the development of smart contracts has made me even more excited - the potential for fully decentralized services without permission is fantastic, ”he said.
According to Smith, his main 'feed' to keep up with market movements is keeping up to date with Twitter and Reddit. “These are the places where the community spends most of its time. Any interesting news gets there very quickly, usually, ”he said.
Still according to him, in addition to Bitcoin, his outlook is optimistic with the cryptocurrencies Litecoin, Monero and Dash. However, the main cryptography that has caught your attention is BAT , a native token of the Brave browser. The investor showed less enthusiasm for Ethereum , as he stated that there is an exaggerated expectation with ETH.
“There is a happy medium between those with good potential and those who are exaggerated. For me, Ethereum, Cosmos, Tezos, Cardano and IOTA - all the major platforms for smart contracts are in this category ”, he said.
However, if for ETH Smith is exaggerated, projects like Bitcoin Cash and Bitcoin SV are useless and EOS and NEO, practically 'scams' that promised something they failed to deliver.
“The most exaggerated currencies for me are mainly ICO projects. Most of them are now dead. Some other projects that I think remain exaggerated are the EOS, NEO, Bitcoin Cash and Bitcoin Satoshi Vision projects. The first two changed and did not keep their original promises. The last two are simply useless. They don't differentiate enough from Bitcoin and use deceptive marketing to stay relevant, ”he concluded.