Dion Rabouin, Rick Newman, Dan Roberts, and Mark Yusko, Morgan Creek Capital Managment CEO discussed the Ethereum (ETH) market drop and the fraudulent ICOs based on ERC-20 tokens that run on ETH network. Despite that Ethereum (ETH) fell quite significantly in 2018, Mark Yusko says Ethereum (ETH) has a bright future.
Dan Roberts and Mark Yusko debated the topic of fraudulent ICOs and scams. They also discussed how the Initial Coin Offerings that were not scams cashed out their Ethereum (ETH). Mark Yusko, however, also said that as the Internet created opportunities in 1996 and helped digitization of the commerce, the next step would be the creation of the TrustNet, and Ethereum (ETH) is designed to build that up.
“People might say its six years from now well, It’s like 1993 or 1994 internet when Google was just being thought off, and nobody thought it was important,” said Mark Yusko, Morgan Creek Capital Management CEO.
According to Morgan Creek Capital Management CEO, Mark Yusko, Ethereum (ETH) has a bright future and will create the TrustNet by 2024
Mark Yusko added that, as TCP/IP, HTTP, and SMTP helped people develop smartphones and technology we use today, the Ethereum (ETH) put the basis of the TrustNet.
“Ethereum is different. Think of it as the World Wide Web of the TrustNet,” added Yusko.
On the other hand, Dion Rabouin also talked about Jordan Belfort’s statements that Bitcoin (BTC) was a scam. Dion added that Belfort has never been a true believer in cryptocurrencies. However, Jordan Belfort said that, although he was a scammer himself, the Bitcoin is the biggest of them all.
“The problem is [Jordan Belfort] was talking about ICO’s, not Bitcoin (BTC) neither Ethereum (ETH) but he was talking about utility tokens, and some of the utility tokens were a scam. Anywhere where there’s capital, bad people are going to show up,” replied Morgan Creek Capital Management CEO.