Tone Vays at ChainXChange: Bitcoin’s USP? Transfer Value, Anywhere
At this year’s ChainXChange conference in Las Vegas, longtime bitcoin analyst and chartist Tone Vays outlined where bitcoin’s been, where it is today, where it could be going, and the OG cryptocurrency’s ultimate use case.
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Vays: ‘I Want to Focus on … Transferring Value Across Borders’
The ex-JP Morgan Chase VP started his ChainXChange presentation detailing the ups and downs of bitcoin’s major price movements to date, walking the crowd through the events that impacted the still fledgling, but ever maturing, cryptocurrency the most.
Notably, Vays examined bitcoin’s first prolonged bear market and then compared bitcoin’s 2017-2018 market cycle to silver’s similar rise and fall.
At this point in his presentation, Vays pivoted for the rest of his talk to what he called bitcoin’s “biggest use case” — transferring value across borders with no permission needed.
A Lot Harder to Transfer Gold Than Digital Gold
It’s a tale of two coins when it comes to trying to transfer gold bullion compared to bitcoin.
Vays noted as much in his presentation:
“It’s very hard to travel with gold across borders, mostly because metal detectors have made gold a very terrible means of cross-border value transfer when ‘shit hits the fan’ in your country, as they say. And some customs cards make you declare all of your gold when you travel.”
And that’s a lot more permission than will ever be required when it comes to transacting in bitcoin, Vays stressed. New money, new advantages, you could say.
This is part of a series of panels and interviews from ChainXChange, so stay tuned for more talks and information by subscribing and enabling notifications for the Bitsonline YouTube channel.
Tone Vays had to quickly move through his presentation, so were there any notable historical events in bitcoin’s history that he skipped over? Let us know what you think in the comments section below.
Image and video via Ky Primo