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Title: [2017-12-08] Yahoo Co-Founder Jerry Yang is a Believer in Bitcoin as Currency Post by: cybersofts on December 08, 2017, 11:08:10 AM Yahoo Co-Founder Jerry Yang is a Believer in Bitcoin as Currency
https://3bjir821uqix1xdupc2ey86g-wpengine.netdna-ssl.com/wp-content/uploads/2017/12/Jerry-Yang-Yahoo-1300x867.jpg Yahoo co-founder believes digital currencies will play a significant role in the future of society, even though bitcoin isn’t “quite there yet”. Speaking at the sidelines of the Fortune Global Forum in China, Yahoo co-founder Jerry Yang drew parallels to bitcoin’s volatility and technology stocks from the “early days of the internet”. Refreshingly, the early internet pioneer opted to speak about bitcoin as a currency rather than the go-to narrative of its value at a time when bitcoin price struck a new all-time high of $15,000 today. “Bitcoin as a digital currency is not quite there yet,” he told CNBC. “People are not using it to transact. People are using it as an investable asset.” Notably, he added: "I personally am a believer in where digital currency can play a role in our society. Especially in, not only the front end of doing transactions but also in the backend of creating a much more efficient system and a much more verifiable system. Yang’s remarks about digital currencies like bitcoin ring a similar tune to those offered by Apple co-founder Steve Wozniak who sees bitcoin as a cryptocurrency that is “more genuine and real” than the U.S. dollar and superior to gold as a store of value. “But for now,” Yang added, “it seems like [bitcoin] is more driven by the hype of investing and getting a return rather than using it as transactional currency.” The technologists’ opinions on bitcoin are in marked contrast, however, to that of JPMorgan chief Jamie Dimon who labelled bitcoin a ‘fraud’ recently. A noted bitcoin skeptic, Dimon has previously said bitcoin “is worth nothing” in 2015, at a time when bitcoin was trading under $300. Yesterday, bitcoin’s soaring price helped propel the entire cryptocurrency market cap ahead of JPMorgan’s $360 billion. Source: https://www.cryptocoinsnews.com/yahoo-co-founder-jerry-yang-believer-bitcoin-currency/ |
