News on December 19, according to the report of Futurism COINS net (Bitcoin.com) is one of the world's largest currency website, due to the encryption currency prices surging this year, it is also a rising tide lifts all boats. But the currency net co-founder and chief technology officer Emile Oldenburg (Emil Oldenburg) seems to be the future of the currency is full of doubt.
Oldenburg in an interview with Swedish Breakit technology website said: "I want to say, to invest in the currency is that you can make a the most risky investment, high risk. In fact, I recently sold all the COINS, switch to the currency in cash." Oldenburg also believes that the currency transaction costs is high, the delivery time is too long.
Indeed, in some ways, the currency transaction costs will double every three months, and now confirm the currency trading for an average of 4.5 hours. Science and technology media Ars Technica reported that recently the currency transaction costs to $26. The currency network in all services related to the currency. Similarweb analysis web site said, this is based in Tokyo, but registered in the S: t Kitts website, have tens of millions of unique visitors per month. COINS the largest net income stream is the so-called currency "pool", it's here forging the new encryption currency on the market.
Oldenburg don't want to disclose any number of income, more reluctant to reveal "this is a large sum of money", even in a personal level. He said: "like I 60 colleagues in Tokyo, came from the currency over the past three years salary." But, according to Swedish COINS, experts say, it is time to change the currency cash. This change has a big reason, that is the currency market liquidity - or the lack of liquidity.
Oldenburg, says people do not understand the risks of holding currency inherent, the reason is very simple, because so far, most people just buy COINS, but never sell or trade. He said: "once people realize that this is the way it works, they will start to sell. And old COINS network may not be able to use."
Oldenburg admitted, now buying and selling or trading currency is not the problem, but when the currency transactions are recorded in a block in the chain, which is using digital ledger record each transaction, the problems will emerge. The core of the problem is that you in the currency in the network limited the number of transactions per second, which depends on the storage memory "block size". Oldenburg said, this can lead to liquidity is scarce and the currency of encryption is not available.
At present, it is still a controversial issue, after all, now the number of currency trading is very limited. This, in turn, will cause the transaction cost, transaction period is too long. With quick returns, new investors into the market after the transaction cost seems to be rising. Although the main problems and "up to 12 hours of trading" can be resolved, oldenburg but can't see any sign of change, because it is old COINS of the network operations, what he called a "mania ban on COINS.
Ironically, oldenburg, said the currency net is keep distance with COINS, even stop for COINS to develop new services, but focus on the development of the currency cash. The currency cash is separated from the currency monetary in August, recently surpassed the etheric COINS, to become the world's second largest encryption currency. Oldenburg, it only costs $0.012 you can complete the currency cash transactions, and there is no time limit. The only drawback is that you need a bigger hard drive, but it is not a problem for most people.
To sum up, oldenburg don't believe in COINS will become people daily use the money. He said: "as long as the network is by this group of people () in the old COINS network running, these solutions will be found in the currency cash, I will be there to see the future."