Tristan Bishop Pan says that cryptocurrency is the result, in part, of people wanting a currency system that is free of government intervention. “Right now, you’re seeing a lot of enthusiastic buyers, mostly institutional and whales, who are creating a free market system that is thriving. The problem, however, is that because there is no equivalent of the SEC in the crypto market, it is very easy for one person to buy 51% of a coin and control it. It gives them the ability to manipulate up and down the market, and this is one of the reasons why crypto as it currently is must change.”
Tristan Bishop Pan believes that there must be some type of checks and balance system in that free market system so that it will work. “I know that there will be people who want to argue that the best market system is a free market system. Isn’t that the same argument as to why communism doesn’t work? Without getting into a political debate, the idea of communism might be great, and the idea of capitalism might also be great. In practice, though, without some level of oversight, neither one is likely to work because of one thing: human nature.”
Tristan Bishop Pan thinks that a true free market system does not work because people want to try and get the best for themselves, for their clients, or for whomever they are taking care of. “We don’t care as much about society as we do about ourselves,” Tristan Bishop Pan states.
So, crypto has to change, Tristan Bishop Pan thinks. “It has to evolve. It has to do something more than what it is doing now. The problem is that at a certain point in time, the crypto market, if it gets too regulated, will be the exact same thing we have now in our market system, where we can’t trust the transparency or what is actually going on. That’s because Big Brother or Uncle Sam or whoever your government authority is has too much control and influence over the market.”
Tristan Bishop Pan adds that in its current form, crypto is dangerous. “Oh my goodness. Yes. Anyone who tells you that investing in crypto is a safe investment is out of their mind. It is not. It shouldn’t be considered an investment. In my opinion, investing in crypto could be an educated gamble, but it is a gamble.”
According to Tristan Bishop Pan, “You’ll have much better odds if you go to Vegas and leave it all on black, in some cases. You know that if you want to bet a number in Vegas, the chances are something like 35-1 that some of you will be unlikely to hit that number. That’s compared to crypto, where if you study that market well enough and study market patterns, such as resistance and the Fibonacci sequences, how things work is that most likely, you will do okay.”
Welcome to the world of digital currency, says Tristan Bishop Pan. “It is our next big thing. It is going to make lots of people very, very rich, and it is going to change the entire face of the planet as to how we do business. There will still be different types of currencies because there will be different types of cryptos on different types of chains and different types of adoptions.”
Looking into the future, Tristan Bishop Pan envisions that there will be an exchange rate and lots of people who make money in the exchange of those currencies across platforms and chains just like currency traders.
Tristan Bishop Pan is excited about where crypto will take society. “An entirely new economic system will be built on crypto, and it will be built on the metaverse. You, my friends, will live to see it because it is not twenty years from now but instead a lot sooner. At the speed we’re going, within the next few President cycles, you won’t recognize the world of currency as you see it now.”
