Ray Youssef Says '99.99% Of' Bitcoin Influencers Are Fake: Without BTC 'They Would Be Waiting Tables'
Portfolio Pulse from Mehab Qureshi
Ray Youssef, CEO of Paxful, a peer-to-peer global finance platform, criticized Bitcoin influencers, stating that '99.9% of Bitcoin influencers are fake'. He suggested that these influencers secretly promote lesser-known cryptocurrencies, which he referred to as 'shi*coins'. Paxful, founded by Youssef and Artur Schaback in 2015, initially supported trading in multiple cryptocurrencies, including Bitcoin and Ether, but suspended Ether trading due to its transition from a proof-of-work to a proof-of-stake network consensus mechanism.
September 25, 2023 | 12:22 pm
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NEGATIVE IMPACT
Paxful's decision to suspend Ether trading due to its transition from a proof-of-work to a proof-of-stake network consensus mechanism could potentially impact Ether's market.
Paxful's decision to suspend Ether trading could potentially reduce the liquidity of Ether in the short term, leading to potential price fluctuations. However, the overall impact is uncertain due to the decentralized nature of Ether.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Paxful CEO's criticism of Bitcoin influencers could potentially impact the perception of Bitcoin, possibly leading to short-term price fluctuations.
The CEO's comments could potentially influence public perception of Bitcoin, leading to increased skepticism and potentially causing short-term price fluctuations. However, the overall impact is uncertain due to the decentralized nature of Bitcoin.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80