Bill Gates' Thoughts on Bitcoin

[Holicent]

Bill Gates has some thoughts on bitcoin.
He's not a fan, and he doesn't think you should be either. In an interview with CNBC, Gates said that he thinks people should "be careful" when it comes to investing in the cryptocurrency. He also said that he believes it's not a stable store of value and that there is no intrinsic value in bitcoin, in other words, he doesn't believe there's anything about it that makes it worth more than another currency. (You can read more about what makes something an investment here.)

Gates isn't alone in his skepticism: many big-name investors have expressed similar concerns about bitcoin and other cryptocurrencies. For example, Warren Buffet and Charlie Munger have both said they consider bitcoin to be "rat poison." They think the price of bitcoin is likely to go up because people are buying into a speculative bubble rather than because there's any real value in the currency itself.

It's important to remember that this isn't necessarily bad news for all cryptocurrencies, just for bitcoin specifically (and probably Ethereum too). There are plenty of other cryptocurrencies out there with real potential for growth just make sure you do your research before putting any money down.

 

[Shaf]

While I'm sometimes tempted to ignore such warnings as bad-mouth by naysayers, it may have a grain of truth attached to it.

What makes Bitcoin now really valuable is simply demand and supply, nothing more. That's part of what makes it so volatile and unpredictable as it's affected by how much people perceive it's worth to be. If due to one news or another people think it's worth $1,000, then the price would most likely continue falling till it's worth just that.

However, we are in an era of digitalization, and things like the internet and other related things are in the same field as Bitcoin.

Once people have accepted them, they only move forward and get more advanced. Bitcoin has given birth to the development of so many coins and tokens whose ecosystems work hard on solving real life problems. This is not something that's likely to go away in one day.

 

[HopeBSV]

I'm not surprised with his thoughts on crypto. It's still confusing to plenty of people.