Crypto is a controversial topic of are currencies. A lot of Fans in the Crypto-Space, see the digital Coins as a democratization of money and see themselves as part of a Revolution. However, the opinion is not all. Almost all of the experts, whether from the Crypto-area or not, agree that the technology of the Blockchain will change the world. But at the Moment the most developed area of this technology, namely, crypto-currencies, is considered by some as less revolutionary. Also, the American billionaire Mark Cuban, to be expressed now in a Video for Wired (a technology magazine) crypto currency belongs to.
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Crypto currency is like Baseball cards to collect
In the Video, Cuban and others, talks about his opinions on Crypto, crypto currency and Blockchain technology. The billionaire is clearly to understand that he sees crypto-currency as Bitcoin is not a real application (Use Case) and compares people who own crypto-currency, with the people, the Comics, Baseball cards, or collecting art:
Here’s the thing with crypto-currency, especially Bitcoin. Bitcoin is worth it to pay what someone is up to it. Have you ever seen someone of baseball cards to collect and they were really, really proud of their baseball cards because they said that they would increase the price? Comic books are the Same, even works of art. There is no real intrinsic value.
He continued his Remarks so that crypto-currencies, just like Baseball cards, could not eat, for example, and there is little else of what we could do with it. In the case of Baseball cards or art you could enjoy at least to their appearance.You’re on the search for a German Bank account with integrated Bitcoin Wallet and direct Bitcoin trading? Then take a look at our Bitwala Test 2019! In this article, we show you all of the services and functions of Bitwala and what are the benefits of the free account brings. Play now the first mobile Bank account with secure access to a Bitcoin exchange and Bitcoin Wallet! Sign up now for free.
Crypto currency is too complicated and a Religion such as Gold
Advocates of Cryptocurrency like Bitcoin, see it quite differently. According to them they have send many application cases, such as the possibility of value in a matter of seconds the whole world. Similarly, Crypto in countries such as Venezuela can serve as a good store of Value.But Cuban stressed that this is only the case limited, because crypto currency for 99% of the population is too complicated and some of the more serious drawbacks. To this end, he compares crypto Gold:
So I say, it is like Gold. Gold is a Religion. People that are really Gold, will tell you that if there is a recession and you have Gold, then everything will be fine. No, it will not. You carry around a gold bar, someone will kick your ass, you turn off your steal gold bullion. And it will again and again and again and again and again happen.
Prefer bananas as a crypto-currency
At the end of the video, the billionaire said that he would prefer to have bananas as a crypto-currency:
I’d rather have bananas. I can eat bananas. Crypto rather not.
Mark Cuban joins with his statements in a whole range of personalities, the crypto-currencies like Bitcoin, has no value. Often, for example, has said of the American billionaire and Investor Warren Buffett that he sees crypto-currency as worthless.Our opinion is that Cuban’s statements were entirely wrong. Of course the digital Coins are only worth as much as someone else is willing to pay for it. But now once honestly: for what commodity the same is not true for? Now, if no more bananas to eat, would want, would break the price of bananas then also, because of the price consists of supply and demand?Also, if he currencies, the value of Crypto is obviously strong doubts, he compares Bitcoin, for example, with Gold, which has served over millennia as a good store of Value. As always, separate to crypto the spirits currencies so. Will be interesting to see who keeps the next years.What do you think of the statements of Cubans? Can you understand his arguments or you’re a completely different opinion? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)