Bitcoin Is Alive and Strong -- It Will Only Get Better From Here
February 25 2014 - 2:33PM
Marketwired
Bitcoin Is Alive and Strong -- It Will Only Get Better From Here
TORONTO, ON and LAS VEGAS, NV--(Marketwired - Feb 25, 2014) -
Myriad Interactive Media Inc. (OTCQB: MYRY) (BERLIN: XNG) a global
interactive media and development company, would like to provide
comment on the Mt. Gox collapse.
"We have received many emails from concerned investors about the
state of CryptoCafe and the overall Bitcoin market," said Myriad
CEO Derek Ivany.
"First and foremost, CryptoCafe.com is not an exchange and the
reason why the company started with this project is to provide a
new way for internet users to get into the Bitcoin market without
the initial need to trade on an exchange -- a simpler way to get
started with Bitcoin and other crypto-coins, a less risky way to
enter a very new market which has tremendous potential to be
something much bigger."
Investors are also reminded that there are many other successful
cryptocurrencies that do not always get as much attention as
Bitcoin, like Ripple, Litecoin, Peercoin and Dogecoin to name a
few. These coins have been doing exceptionally well and have
already formed a collective market-cap worth more than $1.5 Billion
US dollars. There are plenty of other exchanges that have much
better management. We believe the issue surrounding the collapse of
Mt.Gox is more around mismanagement and therefore the entire
community should not be questioned because of the unfortunate
actions of Mt.Gox.
The company would further like to point investors to read a
Joint Statement regarding MtGox:
Joint Statement
Regarding MtGox
This tragic violation of the trust of users of Mt.Gox was the
result of one company's actions and does not reflect the resilience
or value of bitcoin and the digital currency industry. There are
hundreds of trustworthy and responsible companies involved in
bitcoin. These companies will continue to build the future of money
by making bitcoin more secure and easy to use for consumers and
merchants. As with any new industry, there are certain bad
actors that need to be weeded out, and that is what we are seeing
today. MtGox has confirmed its issues in private discussions
with other members of the Bitcoin community.
We are confident, however, that strong Bitcoin companies, led by
highly competent teams and backed by credible investors, will
continue to thrive, and to fulfill the promise that bitcoin offers
as the future of payment in the Internet age.
In order to re-establish the trust squandered by the failings of
Mt. Gox, responsible bitcoin exchanges are working together and are
committed to the future of bitcoin and the security of all customer
funds. As part of the effort to re-assure customers, the following
services will be coordinating efforts over the coming days to
publicly reassure customers and the general public that all funds
continue to be held in a safe and secure manner: Coinbase, Kraken,
BitStamp, Circle, and BTC China.
We strongly believe in transparent, thoughtful, and
comprehensive consumer protection measures. We pledge to lead the
way.
Bitcoin operators, whether they be exchanges, wallet services or
payment providers, play a critical custodial role over the bitcoin
they hold as assets for their customers. Acting as a custodian
should require a high-bar, including appropriate security
safeguards that are independently audited and tested on a regular
basis, adequate balance sheets and reserves as commercial entities,
transparent and accountable customer disclosures, and clear
policies to not use customer assets for proprietary trading or for
margin loans in leveraged trading.
The following industry leaders stand by this statement:
Fred Ehrsam and Brian Armstrong -- Founders of Coinbase
Jesse Powell -- CEO of Kraken
Nejc Kodrič -- CEO of Bitstamp.net
Bobby Lee -- CEO of BTC
China
Nicolas Cary -- CEO of Blockchain.info
Jeremy Allaire -- CEO of Circle
About Myriad Interactive Media, Inc.: Myriad Interactive Media
is an interactive marketing and development firm based in Toronto,
Canada. Myriad designs and develops customized marketing plans,
social media marketing campaigns, pay per click, and search engine
marketing. Our company also develops in house web & mobile
applications.
Myriad Interactive Media Inc. is a public company quoted on the
OTCQB under the symbol MYRY. For more information, please visit us
in the USA at www.myriadim.com
Forward-Looking Statements
In addition to historical information, this press release may
contain forward-looking statements that reflect the Company's
current expectations and projections about future results,
performance, prospects and opportunities. These forward-looking
statements are based on information currently available to us and
are subject to a number of risks, uncertainties and other factors
that may cause actual results, performance, prospects or
opportunities to be materially different from those expressed in,
or implied by, such forward-looking statements. You should not
place undue reliance on any forward-looking statements. Except as
required by federal securities law, the Company assumes no
obligation to update publicly or to revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available, new events occur or circumstances change in the
future.
Contacts: Myriad Interactive Media Inc. Find us on Twitter
https://twitter.com/myriadsocial Find us on Facebook
https://www.facebook.com/myriadinteractivemedia Find us on Google+
https://plus.google.com/+Myriadim/ Contact Investor Relations
(Email Preferred) Investor Relations: 1-800-427-1103
info@myriadim.com Interactive XBRL Filings are available at:
http://www.myriadim.com/investor-center.html
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