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Author Topic: Mark Cuban's attack on Bitcoin  (Read 1373 times)
Bitcoin Guy
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June 08, 2017, 11:28:50 AM
 #1

"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?

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June 08, 2017, 11:53:48 AM
 #2

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.

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June 08, 2017, 12:01:29 PM
 #3

"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. Wink

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June 08, 2017, 12:01:35 PM
 #4

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.



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June 08, 2017, 12:35:25 PM
 #5

He said BTC is overvalue but there are lots of ways to value an asset.

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June 08, 2017, 12:37:42 PM
 #6

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.


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June 08, 2017, 12:45:55 PM
 #7

"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.

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June 08, 2017, 12:59:12 PM
 #8

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?

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June 08, 2017, 01:04:16 PM
 #9

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

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June 08, 2017, 02:11:24 PM
 #10

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.

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June 08, 2017, 02:16:15 PM
 #11

"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.

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June 08, 2017, 02:20:43 PM
 #12

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.
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June 08, 2017, 02:21:23 PM
 #13

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.

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June 08, 2017, 02:29:50 PM
 #14

"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.

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June 08, 2017, 02:35:10 PM
 #15

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.
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June 08, 2017, 02:36:23 PM
 #16

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.

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June 08, 2017, 02:39:02 PM
 #17

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.


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June 08, 2017, 02:55:10 PM
 #18

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.

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June 08, 2017, 03:05:58 PM
 #19

"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.

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June 08, 2017, 03:09:16 PM
 #20

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.

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