Bobby first started getting involved with Bitcoin back in 2011, obtaining his first ever Bitcoin (BTC) through mining. Lee co-founded BTCC, which was the first Bitcoin Exchange in China back in 2011, surging as a solution to Mt.Gox and the issues Chinese people were having when using the exchange back then due to the government control over of the local currency. BTCC was the first ever crypto related company in all of Asia to obtain funding through a regular fundraising mechanism.
China And Cryptocurrencies
After BTCC was sold in 2018, Bobby stepped out as its CEO and is now an advocate of cryptocurrencies and the technology around it. According to Bobby, the Chinese government has taken quite a hostile stand towards cryptocurrencies in general under the following premise:
“The government does not want to see exchanges to be really popular, they don’t want people investing in crypto assets due to the volatile nature and the price swings in the asset, they think is dangerous for the mass consumers to invest in crypto, digital currencies like Bitcoin; which is why they shut down all exchanges.”
Although, he is certain that with time, China will reopen crypto exchanges and will change its stand in regards to cryptocurrencies in general. As for the regulation of mining, Bobby strongly believes this regulation, if it ever comes into place, will be hard to apply given the difficulty it represents due to its decentralized system, which makes it hard to track.
Poker And Investing In Crypto
When asked about his well-known skills in poker and the relationship between crypto investment, Bobby commented o how poker was a game of skills which required to calculate odds and do math constantly, representing some sort of correlation between the game and crypto investment.
Bobby also gave us some great advice when it comes to investing. The financial expert eagers people to not be afraid or hesitate when investing in Bitcoin (BTC), although each individual should always consider his targets and manageable risk when it comes to investing. According to Bobby, there are four key investment tips when it comes to Bitcoin that everybody should follow:
Read more on: https://cryptocoin.news/videos/four-tips-for-every-bitcoin-investor-interview-with-bobby-lee-bitcoin-foundation-20856/