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Author Topic: [2019-04-14] Uber IPO: Cryptocurrency Will Be a ‘Huge Beneficiary’  (Read 54 times)
Jgilpulg
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April 14, 2019, 02:14:08 PM
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Digital Currency Group CEO, Barry Silbert adds that billions of dollars in private company stock will be unleashed from IPOs this year.

https://bitcoinist.com/uber-ipo-bitcoin-cryptocurrency-beneficiary/


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April 14, 2019, 05:22:43 PM
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how exactly is cryptocurrency gonna be a huge beneficiary? how is IPO liquidity gonna spill over into the crypto market?

the only thing mentioned in the article that seems significant is this:

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Digital Currency Group CEO, Barry Silbert adds that billions of dollars in private company stock will be unleashed from IPOs this year.
“The crypto asset class is going to be a huge beneficiary,” he says.

is there an expectation that the seed investors from uber (and other tech IPOs) are gonna invest in crypto after liquidating their stocks?

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April 14, 2019, 06:08:29 PM
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how exactly is cryptocurrency gonna be a huge beneficiary? how is IPO liquidity gonna spill over into the crypto market?

the only thing mentioned in the article that seems significant is this:

Quote
Digital Currency Group CEO, Barry Silbert adds that billions of dollars in private company stock will be unleashed from IPOs this year.
“The crypto asset class is going to be a huge beneficiary,” he says.

is there an expectation that the seed investors from uber (and other tech IPOs) are gonna invest in crypto after liquidating their stocks?

That's what I wondered too, but I think they're hoping that Bitcoin could be used to pay Uber. Which would bring a lot to Bitcoin. That's what I concluded from it, anyway because the article said "...At the same time, business solutions allowing Uber users to pay with Bitcoin are now moving to center stage..." But they didn't mention what business solutions, that's what I was interested in.

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April 16, 2019, 12:39:49 AM
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how exactly is cryptocurrency gonna be a huge beneficiary? how is IPO liquidity gonna spill over into the crypto market?




Because there is a driver in Argentina who accepts Bitcoins. And because you have the possibility to buy e-cards using BTC and several conversions later use to pay for Uber.

But the reality is that it is just a clickbaiting. Another one. Websites try to turn random comments into news.
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April 16, 2019, 06:22:21 PM
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That's what I wondered too, but I think they're hoping that Bitcoin could be used to pay Uber. Which would bring a lot to Bitcoin. That's what I concluded from it, anyway because the article said "...At the same time, business solutions allowing Uber users to pay with Bitcoin are now moving to center stage..." But they didn't mention what business solutions, that's what I was interested in.
Maybe he's referring to LN and/or a related application?

However, even if Bitcoin was eventually accepted by Uber, I don't see how this would benefit "crypto" directly.  Ridesharing can be one piece in the puzzle to achieve the usage of Bitcoin "as a currency" and thus increase its exposition and adoption (and ultimately, its price). But there are dozens of other pieces to solve. It will be a slow process, I think.

The reason why people do use Bitcoin little for payments is basically volatility - if price rises, most people prefer to hodl (many companies have ceased to accept Bitcoin just in the 2017 bubble), while when it falls, they panic-sell it for fiat. It would be a big advancement if it was made more attractive in bear markets and short-term market downturns to pay goods/services with it. Maybe if Uber adopted this model, volatility could decrease and crypto would benefit massively Wink

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