“I really like Bitcoin. I own Bitcoins. It’s a store of value, a distributed ledger. It’s a great place to put assets, especially in places like

Things I Don’t Like About Cryptocurrency

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2021-10-27 02:00:12

“I really like Bitcoin. I own Bitcoins. It’s a store of value, a distributed ledger. It’s a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government’s currency does not hold value. It’s also a good investment vehicle if you have an appetite for risk. But it won’t be a currency until volatility slows down.”

“Of course I hate the success of bitcoin. I don’t welcome a currency that’s so useful to kidnappers and extortionists, nor do I like just shoveling out a few extra billions and billions of dollars to somebody who just invented a new financial product out of thin air. I think I should say modestly that I think the whole damned development is disgusting and contrary to the interests of civilization.”

About a decade ago I made a bet with a close friend of mine about cryptocurrency. He firmly believed that Bitcoin would go mainstream and be accepted everywhere as a payment method and I firmly believed that it would not. Essentially, would this become a competitive digital currency or not?