{"id":19724,"date":"2023-02-07T05:58:56","date_gmt":"2023-02-07T13:58:56","guid":{"rendered":"https:\/\/coinnetworknews.com\/ava-labs-ceo-shares-key-difference\/"},"modified":"2023-02-07T05:58:56","modified_gmt":"2023-02-07T13:58:56","slug":"ava-labs-ceo-shares-key-difference","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/ava-labs-ceo-shares-key-difference\/","title":{"rendered":"Ava Labs CEO shares key difference"},"content":{"rendered":"
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Emin G\u00fcn Sirer<\/a>, creator of the Avalanche Consensus protocol and Ava Labs CEO, believes that there is one very straightforward method to spot a long-standing cryptocurrency project.<\/p>\n

On Feb. 7 \u200b\u200bSirer discussed blockchain venture capital and crypto regulation in a fireside chat with MarketAcross chief operations officer Itai Elizur at the Web3 builder-focused event, Building Blocks 23.<\/p>\n

During the discussion, the Avalanche founder pointed out the crucial role of \u201cstaying power\u201d in the crypto industry, condemning players that run from one project to another or jump into \u201cevery single new coin offering\u201d in the hopes that they will go up. According to \u200b\u200bSirer, the desire to reap quick profits from crypto will only turn the space into a terrible thing, and VCs are not to blame.<\/p>\n

\u201cI will tell you who\u2019s to blame; it\u2019s us,\u201d \u200b\u200bSirer declared, urging the community to support solid crypto initiatives and avoid scammy projects with a short life span. He then shared his \u201cvery simple test\u201d of how to spot long-standing projects in crypto and stay away from those who make grand promises and then disappear.<\/p>\n

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Ava Labs founder and CEO Emin G\u00fcn Sirer (right) with MarketAcross COO Itai Elizur (left). Source: Cointelegraph\u00a0<\/em><\/figcaption><\/figure>\n

\u201cSo look at the team behind any project, look at their staying power,\u201d Ava Labs CEO said, adding that the regulating jurisdiction of a cryptocurrency firm provides one of the most important hints about its long-term capabilities. He stated:<\/p>\n

\u201cIf a project is headquartered outside the United States, you know that it’s some kind of a Cayman Bahamas et cetera, some kind of a tax haven, or Austin, Texas et cetera, they are there to sell points and disappear. They have no staying power.\u201d<\/p><\/blockquote>\n

Crypto firms headquartered in the Silicon Valley are likely to do \u201cpure tech play,\u201d Sirer argued. \u201cThey will do the one tech trick pony then they will disappear,\u201d he noted.<\/p>\n

Ava Labs CEO went on to say that long-lasting crypto projects are more likely to be headquartered in New York, \u201cwhere the assets are\u201d and that are integrated with financial institutions. \u201cThat’s where we need to go,\u201d Sirer stated, stressing that there are some people who devote their lives and careers to make things work in crypto. \u201cVCs, of course, love the short lifespan projects,\u201d he added.<\/p>\n

Related: <\/em><\/strong>New York Assembly introduces crypto payments bill for fines, taxes<\/em><\/strong><\/a><\/p>\n

Additionally, Sirer emphasized the importance of always growing the space, even during a bear market. \u201cIn fact, I happen to like bear markets more. It’s much more fun to be building when everyone is more rational,\u201d the executive stated.<\/p>\n

The latest remarks by Sirer add some new ideas about the executive’s view of the cryptocurrency market. In 2020, Sirer argued that more than 95% of cryptocurrencies were nothing but scams<\/a>. He also criticized use cases of new crypto initiatives, stating that Bitcoin was the first cryptocurrency to offer a peer-to-peer online payment method.\u00a0<\/p>\n