Legal Bitcoin Advisory Opens in New York to Guide New Investors
Pierre Rochard, the self-proclaimed “bitcoin maximalist,” is often overlooked due to his notorious tweets against alternate currency fans. The accountant turned software engineer does feel, however, it’s hollow to call out bitcoin maximalists as “ignorant” to other currencies and disagrees with the fact that this group feels only one coin will exist.
Bitcoin the New Standard
The French-born engineer compares bitcoin with the dollar. In economics, one currency is always held in standard, and other currencies are compared with it. According to Rochard, bitcoin has attained the value of a “standard currency” and believes other virtual currencies are heavily dependant on it.
The cryptocurrency sector has undeniably experienced a lucrative rise since 2014 onward, leading to the opening of hedge funds and raking in big money. Choosing an alternate path, though, Rochard has legally opted to launch a consultancy in New York, called Bitcoin Advisory LLC.
As per Rochard, his company is different than competitors as the clients would be charged only for his time and won’t be forced into investing into anything that the company sells or promotes. He believes that the biggest giveaway at his firm lies in a deep understanding of the infamously volatile digital asset class. As such, he aims to educate people so they can look after their investments.
Speaking to Coindesk, Rochard said:
“I do want to also present the case against investing in bitcoin or at least being more cautious about its valuation or more rigorous about analyzing the risks of investing in bitcoin. I don’t want investors going all in on bitcoin.”
Rising Demand for Crypto-Advisors
After the changes suggested by the New York Agreement, which was put ahead by a group of crypto-organizations and miners to lower transaction fees, a stark need for independent advisors, who wouldn’t place personal interests above Bitcoin’s, was felt.
Rochard aims to educate interested parties, and that’s the primary task for him, but his engineering background can be of great use here.
For the uninitiated, running a full node can be both a tedious setup and a technologically challenging process. This is an area which requires a lot of expert advice, and Rochard aims to fill the gap with his company’s expertise on building and maintaining the Bitcoin protocol. Reportedly, Rochard has developed tools to tally and audit protocol contributions, which are readily accessible from GitHub.
“What I want to see from my contributions to Bitcoin Core is to help accelerate the development of Bitcoin Core’s wallet.”
Bitcoin Advisory LLC is not Rochard’s first business in the cryptocurrency space, as the engineer also launched an educational Bitcoin product earlier in March 2014.
Named after Bitcoin’s unknown creator, Rochard co-founded the Satoshi Nakamoto Institute, along with his classmates Daniel Krawisz and Michael Goldstein. However, it is not a traditional institution and is much closer to Wikipedia, providing archives of digital currencies, smart contracts, and cryptography from the 1970s, for free viewing/download.