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Title: Mark Cuban's attack on Bitcoin Post by: Bitcoin Guy on June 08, 2017, 11:28:50 AM "Mark Cuban has attacked Bitcoin on Twitter, claiming it is not a currency, it is a bubble, and that the whole system of valuation concerning it is wrong. But is he right?"
https://futurism.com/mark-cuban-asserts-that-bitcoin-is-not-currency/ His comment caused the Bitcoin price to drop before it hit $3000. He said Bitcoin's increasing price now is a bubble. What do you think? Title: Re: Mark Cuban's attack on Bitcoin Post by: thejaytiesto on June 08, 2017, 11:53:48 AM Mark Cuban, just another idiot that won the lottery and now he thinks he is an eminence of every subject and his opinion on this should matter a lot because he has a billion for a networth. No thanks.
Title: Re: Mark Cuban's attack on Bitcoin Post by: GreenBits on June 08, 2017, 12:01:29 PM "Mark Cuban has attacked Bitcoin on Twitter, claiming it is not a currency, it is a bubble, and that the whole system of valuation concerning it is wrong. But is he right?" https://futurism.com/mark-cuban-asserts-that-bitcoin-is-not-currency/ His comment caused the Bitcoin price to drop before it hit $3000. He said Bitcoin's increasing price now is a bubble. What do you think? Well, the bubble comment is valid, but he's sounding pretty salty, like he might have missed out. I'm not even going to debate why bitcoin is a currency. Honestly, when guys do shit like this, I honestly think it's to catch the dip, LOL. Cuban is probably sitting on more coins than Karpeles. ;) Title: Re: Mark Cuban's attack on Bitcoin Post by: Decoded on June 08, 2017, 12:01:35 PM Mark Cuban is a lucky man, and hence, has become quite powerful. I think that something like Bitcoin that is so volatile and so unlike anything he's even seen slightly scares him and forces him to try and play it down. Following his reasoning, fiat is also incorrectly valued, with it being based on a country's status compared to it's neighbours.
Value is an illusion. You can place it into anything. That's why you can't believe in everything you hear. I believe in Bitcoin because it's concept is a proof that there is a more fair and powerful system out there, compared to our current broken financial system. Title: Re: Mark Cuban's attack on Bitcoin Post by: victory1 on June 08, 2017, 12:35:25 PM He said BTC is overvalue but there are lots of ways to value an asset.
Title: Re: Mark Cuban's attack on Bitcoin Post by: YuginKadoya on June 08, 2017, 12:37:42 PM Mark Cuban is a lucky man, and hence, has become quite powerful. I think that something like Bitcoin that is so volatile and so unlike anything he's even seen slightly scares him and forces him to try and play it down. Following his reasoning, fiat is also incorrectly valued, with it being based on a country's status compared to it's neighbours. Value is an illusion. You can place it into anything. That's why you can't believe in everything you hear. I believe in Bitcoin because it's concept is a proof that there is a more fair and powerful system out there, compared to our current broken financial system. But he got a point in some of his tweets, but the feeling of getting left behind has in every of his post, I think he had just realized that bitcoin really is a great investment, but in my opinion in his every post, because of his state in life that a mere 1 bitcoin that is more that $2000 dollar was just a mere coin for him because he is very rich, But I think he has a reason in attack bitcoin on twitter, but what is his real intention? if he is not really left behind the hype of bitcoin. Title: Re: Mark Cuban's attack on Bitcoin Post by: Kemarit on June 08, 2017, 12:45:55 PM "Mark Cuban has attacked Bitcoin on Twitter, claiming it is not a currency, it is a bubble, and that the whole system of valuation concerning it is wrong. But is he right?" https://futurism.com/mark-cuban-asserts-that-bitcoin-is-not-currency/ His comment caused the Bitcoin price to drop before it hit $3000. He said Bitcoin's increasing price now is a bubble. What do you think? He has some point. But I think he felt he was somewhat left behind when all wealthy people are already into bitcoin investing. He didn't believed in bitcoin in early days, but now he realizes that bitcoin is really a safe haven for investing that's why he is saying negative things about it. I just hope he will just buy big amounts and accumulate it for long term like other big time investors. Don't talked about bitcoin because every negative news really impact the price. Well it just drop a little but rest assured that $3000 will be touched soon. Title: Re: Mark Cuban's attack on Bitcoin Post by: gentlemand on June 08, 2017, 12:59:12 PM I do not care what this person thinks, whoever he/she may be. Bitcoin got to where it is without him and will continue its thing regardless.
And the price dropped because of his tweet? Are you fuckin serious? Title: Re: Mark Cuban's attack on Bitcoin Post by: akirasendo17 on June 08, 2017, 01:04:16 PM cuban is an attention seeker the more you , talk about him or even include him in the discussion he will keep on comin ,
he might be a target investor but since it slips on his hand he is now fighting it coz its a major compettion for him i think Title: Re: Mark Cuban's attack on Bitcoin Post by: Bitcoin Guy on June 08, 2017, 02:11:24 PM He seems bitter about it because he got left behind. He is jealous on those who invested earlier and made ton of money.
Bubble or not, Bitcoin price will continue to go higher (because of the high demand). It will have its down time (the so call bubble burst), but in the long run, it is heading up because of the international recognition and acceptancy. Once the soft fork/hard fork matter is settled and its blockchain mechanism is improved, I am expecting to see the price goes up more quickly. Title: Re: Mark Cuban's attack on Bitcoin Post by: malami on June 08, 2017, 02:16:15 PM "Mark Cuban has attacked Bitcoin on Twitter, claiming it is not a currency, it is a bubble, and that the whole system of valuation concerning it is wrong. But is he right?" https://futurism.com/mark-cuban-asserts-that-bitcoin-is-not-currency/ His comment caused the Bitcoin price to drop before it hit $3000. He said Bitcoin's increasing price now is a bubble. What do you think? What makes you think it is his comment specifically that caused bitcoins price to drop because a lot of popular people have repeated this line many times without it having an effect on the price. Perhaps it was just a coincidence. Title: Re: Mark Cuban's attack on Bitcoin Post by: JGoRed on June 08, 2017, 02:20:43 PM In a way I am almost happy to hear that, it reminds me that we’re legit. You see if nobody powerful is banning Bitcoin or criticizing it then it’s probably not doing well, but when they start you realize that it now has power.
Title: Re: Mark Cuban's attack on Bitcoin Post by: elite3000 on June 08, 2017, 02:21:23 PM He is most probably trolling.
Maybe he shorted Bitcoins too, hard to know. If the comments were about stocks, there could be legal consequences, I think. Title: Re: Mark Cuban's attack on Bitcoin Post by: olushakes on June 08, 2017, 02:29:50 PM "Mark Cuban has attacked Bitcoin on Twitter, claiming it is not a currency, it is a bubble, and that the whole system of valuation concerning it is wrong. But is he right?" https://futurism.com/mark-cuban-asserts-that-bitcoin-is-not-currency/ His comment caused the Bitcoin price to drop before it hit $3000. He said Bitcoin's increasing price now is a bubble. What do you think? Mark Cuban is entitled to his opinion on choosing a position after all we have seen and heard several things bitcoin has been likened to. While some have said its a ponzi scheme, others have said its an MLM irrespective of that, bitcoin is still waxing strong in the face of several challenges which I believe this will equally add to it. The issue at hand is what the majority believes it to be and that alone will make or mar bitcoin and not what an individual thinks. Title: Re: Mark Cuban's attack on Bitcoin Post by: haroldtee on June 08, 2017, 02:35:10 PM His comment caused the Bitcoin price to drop before it hit $3000. He said Bitcoin's increasing price now is a bubble. What do you think? Is that a fact or just an assumption? Anyway, it is high time Mark started leaking his wounds and stop spraying rubbish into the crypto atmosphere. However he wants to see it, we are all bubbling in a good way. In a way I am almost happy to hear that, it reminds me that we’re legit. You see if nobody powerful is banning Bitcoin or criticizing it then it’s probably not doing well, but when they start you realize that it now has power. You are very much on point mate. Title: Re: Mark Cuban's attack on Bitcoin Post by: cellard on June 08, 2017, 02:36:23 PM He is most probably trolling. Maybe he shorted Bitcoins too, hard to know. If the comments were about stocks, there could be legal consequences, I think. A lot of famous figures with big weight the investing world nowadays use tweeter to pump and dump stocks, and now with crypto it's perfect since a lot of people in crypto, if not majority, are idiots that will believe anyone says in twitter. And let's not forget, that bitcoin has a very small marketcap and can be manipulated easier than huge companies. Title: Re: Mark Cuban's attack on Bitcoin Post by: eternalgloom on June 08, 2017, 02:39:02 PM Since half of the people won't bother reading the article or tweets, I'll add them to this post:
Quote I think it’s in a bubble. I just don’t know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble https://twitter.com/mcuban/status/872115728962510849 Anyone anywhere can buy a stock. #crypto is like gold. More religion than asset. Except of course gold makes nice jewelry. #crypto notsomuch https://twitter.com/mcuban/status/872118709808226304 I’m not questioning value. I’m questioning valuation https://twitter.com/mcuban/status/872128160908947456 I think blockchain is very valuable and will be at the core of most transactions in the future. Healthcare, finance etc all will use it https://twitter.com/mcuban/status/872127670418583554 Isn't he just talking about the recent price spike and saying that it's currently in a bubble? He doesn't seem to be overly negative about Bitcoin if you read all of his tweets. Title: Re: Mark Cuban's attack on Bitcoin Post by: LuanX3 on June 08, 2017, 02:55:10 PM Stupid people will be stupidly ignorant. How can this be a bubble when everywhere people care about it now and there have been plenty of countries adopting it now into their economy? I guess they are just destroying bitcoins name for their own personal gains. Just forget about that loser and keep on buying.
Title: Re: Mark Cuban's attack on Bitcoin Post by: Bitcoin Guy on June 08, 2017, 03:05:58 PM "Mark Cuban has attacked Bitcoin on Twitter, claiming it is not a currency, it is a bubble, and that the whole system of valuation concerning it is wrong. But is he right?" https://futurism.com/mark-cuban-asserts-that-bitcoin-is-not-currency/ His comment caused the Bitcoin price to drop before it hit $3000. He said Bitcoin's increasing price now is a bubble. What do you think? What makes you think it is his comment specifically that caused bitcoins price to drop because a lot of popular people have repeated this line many times without it having an effect on the price. Perhaps it was just a coincidence. I got that from different articles - I was just repeating what they think. But one thing you do need to know is that they did a time comparison by looking at the time the price started to drop and the time he made that comment. Title: Re: Mark Cuban's attack on Bitcoin Post by: dissident on June 08, 2017, 03:09:16 PM Analysts get paid to make predictions, not be right. There are millions of them out there who make money being wrong, so don't put a lot of faith in what any of them have to say... I have yet to find one that can do much better than random chance.
Title: Re: Mark Cuban's attack on Bitcoin Post by: Kprawn on June 08, 2017, 03:17:15 PM Mark Cuban is the typical arrogant rich asshole who thinks he knows everything about every subject and only he is right. Have you watched any
of the Shark Tank episodes? Read Robert Herjavec's book, The Will to Win and you will see the perfect gentleman and a good example of how a rich person should be. {humble} .... Mark will never admit that he is wrong, because he is a know it all. I will never do business with people like him. Robert Herjavec's opinion will mean something because he knows something about internet security. https://en.wikipedia.org/wiki/Robert_Herjavec Title: Re: Mark Cuban's attack on Bitcoin Post by: dinofelis on June 08, 2017, 03:22:00 PM "Mark Cuban has attacked Bitcoin on Twitter, claiming it is not a currency, it is a bubble, and that the whole system of valuation concerning it is wrong. But is he right?" https://futurism.com/mark-cuban-asserts-that-bitcoin-is-not-currency/ His comment caused the Bitcoin price to drop before it hit $3000. He said Bitcoin's increasing price now is a bubble. What do you think? He's right, of course. What he's missing, is that bitcoin and the rest of crypto are perfect speculative assets (by definition "bubbles") and that finance loves to gamble on speculative assets. That's why bitcoin has indeed a bright future - but not as a currency, but as the thing it has been doing since the beginning: a greater-fool game. There's still a world of greater fools to take. The whole gambling sector of speculative finance (the derivatives market cap) is 10 times the world economy (about 1.2 quadrillion dollars). This is the sector that crypto plays in, not "fiat money" (which is 100 times smaller). Title: Re: Mark Cuban's attack on Bitcoin Post by: Bitcoin Guy on June 08, 2017, 05:29:10 PM New article from MarketWatch.com.
Is bitcoin in a bubble? This metric suggests there’s more room to grow http://www.marketwatch.com/story/is-bitcoin-in-a-bubble-this-metric-suggests-theres-more-room-to-grow-2017-06-08 A new P/E ratio approach. Title: Re: Mark Cuban's attack on Bitcoin Post by: imeetup on June 08, 2017, 06:22:05 PM "Mark Cuban has attacked Bitcoin on Twitter, claiming it is not a currency, it is a bubble, and that the whole system of valuation concerning it is wrong. But is he right?" https://futurism.com/mark-cuban-asserts-that-bitcoin-is-not-currency/ His comment caused the Bitcoin price to drop before it hit $3000. He said Bitcoin's increasing price now is a bubble. What do you think? He's right, of course. What he's missing, is that bitcoin and the rest of crypto are perfect speculative assets (by definition "bubbles") and that finance loves to gamble on speculative assets. That's why bitcoin has indeed a bright future - but not as a currency, but as the thing it has been doing since the beginning: a greater-fool game. There's still a world of greater fools to take. The whole gambling sector of speculative finance (the derivatives market cap) is 10 times the world economy (about 1.2 quadrillion dollars). This is the sector that crypto plays in, not "fiat money" (which is 100 times smaller). The growth of Bitcoin hasn't even really begun yet. Like @dinofelis said by calling it a 'greater fools' game, it is true that a massive amount of the world population doesn't even have a clue about crypto yet... there is so much room for exponential growth left. The next few years the amount of people involved in crypto will be 5 to 10 times greater than it is now, maybe even more. Title: Re: Mark Cuban's attack on Bitcoin Post by: imeetup on June 08, 2017, 08:05:52 PM Mark Cuban thinks it's a bubble. Clint Eastwood has an interesting opinion as well as I found in this article.
http://www.zerohedge.com/news/2017-06-06/clint-eastwoods-advice-bitcoin-speculation Title: Re: Mark Cuban's attack on Bitcoin Post by: Bitcoin Guy on June 08, 2017, 08:21:22 PM Mark Cuban thinks it's a bubble. Clint Eastwood has an interesting opinion as well as I found in this article. http://www.zerohedge.com/news/2017-06-06/clint-eastwoods-advice-bitcoin-speculation Clint Eastwood said "Go ahead, make my money!" Based on the current price, if the price grows 55% annually for the next 3 years, the price will exceed $10,000. Title: Re: Mark Cuban's attack on Bitcoin Post by: Bitcoin Guy on June 08, 2017, 09:13:48 PM And a 44% annual increase for the next 10 years will give us $100,000 per BTC. The number of mined bitcoins qill be closed to 20 millions. That will give us a market cap of $2 Trillions.
Assume Apple stock price increase at 10% annually, after 10 years it will have $2T of market cap as well. Title: Re: Mark Cuban's attack on Bitcoin Post by: mindrust on June 08, 2017, 09:22:18 PM He says bitcoin is a religion just like gold. GOLD!
He is talking shit about gold and favoring stocks over PM's. This alone enough to invalidate the rest of his arguments. Anything comes and about to come out of him is nothing but shit. I bet he is one of those SNAP investors. 8) Title: Re: Mark Cuban's attack on Bitcoin Post by: Harry Callahan on June 08, 2017, 10:33:54 PM I am hearing this name for the first name,on further searching about him i really did not understand what significant contribution did he do anything regarding technology and if the price of bitcoin goes down simply because someone said something,then it is not fundamentally strong.
Title: Re: Mark Cuban's attack on Bitcoin Post by: JGoRed on June 09, 2017, 05:59:15 PM He says bitcoin is a religion just like gold. GOLD! Wow, I guess I didn’t realize he hated gold too. I guess we should be taking this as a complement if he’s comparing Bitcoin to Gold :).He is talking shit about gold and favoring stocks over PM's. This alone enough to invalidate the rest of his arguments. Anything comes and about to come out of him is nothing but shit. I bet he is one of those SNAP investors. 8) Title: Re: Mark Cuban's attack on Bitcoin Post by: fan_of_things_and_stuff on June 10, 2017, 05:39:59 AM Well to be fair I've never really understood why BTC keeps rising in price. At the end of the day it is designed to not be much than a USD or Euro right? So why has it 1000x its value in the last 5-7 years? Not being an expert myself, I'd say that looks a lot like a word I know that starts with b and rhymes with stubble
Title: Re: Mark Cuban's attack on Bitcoin Post by: AGD on June 10, 2017, 07:45:09 AM The difference between Tulips and Bitcoin:
- the total quantity of Tulips is not limited. - Tulips can rot - Tulips can not be used for transactions over large distances - Tulips can't be divided into valuable fractions - - - Btw. There are plants nowadays, that are a lot more expensive than these tulips in the 17th century, like I remember some type of a rose, that was sold for 5 mio USD a few years ago. Comparing Bitcoin with the tulip mania is just a dull attempt to explain something , that has never happened before. |