Bitcoin [BTC] and the blockchain space are two separate things, says Francis Pouliot

2019-5-12 23:30

Bitcoin [BTC], the world’s largest cryptocurrency, grabbed headlines multiple times over the past month because of mainstream companies considering its adoption and price fluctuations. During the TNW 2019 conference, Francis Pouliot, the Chief Executive Officer [CEO] of BullBitcoin, a popular Bitcoin exchange, spoke about the cryptocurrency’s potential and the coin’s characteristics compared to that of its blockchain.

Pouliot stated that:

“I do not consider Bitcoin to be part of the blockchain space. I consider the two to be different.”

The CEO spoke about censorship resistance, the network’s sovereignty, censorship resistance, and the cryptocurrency’s monetary properties.

Pouliot went on to say that Bitcoin is fluid and that it is a great platform for people to liquidate their funds. According to him, BTC is not something that can be copied and then recreated somewhere else because of its inherent properties. He added that the world’s largest cryptocurrency is immutable and that it is safe because it is difficult to change the rules of Bitcoin by a single person.

The BullBitcoin official claimed that no one can stop someone else from using Bitcoin, which makes it a wonderful tool for free-market movement. He elucidated that Bitcoin was the first example of decentralized digital scarcity and was not like gold, which is scarce because of chemistry.

Pouliot was also in the news recently when he claimed that Bitcoin’s value proportion increased massively between December 2017-18. In his words:

“1/ Looking back at Bitcoin Markets

I learned years ago the futility of trading on $BTC market. My strategy: stable $BTC income, business profits in $BTC, not owning fiat.

My thesis: $BTC markets have a pattern of discovering the increase in $BTC held by hodlers last resort.”

He further added:

“2/ My first bullish signal was the slaying of Bear Whale in October 2014 (https://www.cnbc.com/2014/10/09/bitcoins-bearwhale-and-the-future-of-a-cryptocurrency.html …).

The second was Backpage being Financially censored and ONLY accept Bitcoin. Tens of thousands of sex workers now need bitcoin. I believe they helped create 2015 $200 price floor.”

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Do Wages Need to be Paid in Bitcoin for Retail Adoption to Happen?

Is this a case of chicken and egg? If more retailers accepted Bitcoin, would more employees expect their wages paid in Bitcoin? Or, does Bitcoin need to be viewed more widely as a replacement for fiat first? A recent tweet by Francis Pouliot, CEO of Canadian Bitcoin (BTC) payments startup Bylls began a discussion as to whether retailer adoption of Bitcoin payments is being stalled by the lack of wages paid in Bitcoin.

2018-10-22 02:00


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Bank of Canada: Proof-of-Work Beats Alternative Consensus Systems

Canada’s central bank has championed proof-of-work (PoW) algorithms as part of a new research paper on Blockchain consensus. ‘Irretrievable Sunk Costs’ In its Staff Working Paper released this week, Bank of Canada (BoC) said PoW, used by Bitcoin, held more promise than alternative proof-of-script (PoS) algorithms found in various altcoins.

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