Bitcoin is overpriced and will not see widespread use , : Ex Pimco CEO

[zycrypto]

Mohamed El-Erian the Ex ceo at pimco and the current chief economic adviser at Allianz in a discussion with CNBC , stated that..

"BITCOIN IS A DISRUPTIVE TECHNOLOGY BUT WILL NOT SEE WIDESPREAD USE."

Mohamed said that he thinks that the price is going to blow up because it cant be adopted at the current price it is at ,but can be used as a peer to peer currency since there are many more peer to peer currencies.

Read More => https://zycrypto.com/bitcoin-will-not-see-widespread-use/

[eternalgloom]

I really disagree with him on that... Just take a look at Japan, where Bitcoin is fully regulated, there are so many shops that accept Bitcoin there.

Here's an article about how it's Japan that has really driven the price up:
https://www.cnbc.com/2017/08/12/bitcoin-vaults-to-new-record-above-4k-boosted-by-japan-and-multiplying-its-value-fourfold.html

That's from people who actually use Bitcoin, well at least some of it is.

The price doesn't really matter as long as the fees aren't too high, you don't have to buy a whole Bitcoin 

[davis196]

Mohamed El-Erian the Ex ceo at pimco and the current chief economic adviser at Allianz in a discussion with CNBC , stated that..

"BITCOIN IS A DISRUPTIVE TECHNOLOGY BUT WILL NOT SEE WIDESPREAD USE."

Mohamed said that he thinks that the price is going to blow up because it cant be adopted at the current price it is at ,but can be used as a peer to peer currency since there are many more peer to peer currencies.

Read More => https://zycrypto.com/bitcoin-will-not-see-widespread-use/

It can`t be adopted at the current price?This is nonsense.Can he say at what price bitcoin can be "adopted"?
It seems to me that this guy doesn`t know anyhting about bitcoin and cryptocurrency and he is just another ignorant person saying "bitcoin is scam" or "bitcoin is a failure".

[Katalyst]

As with any new disruptive technology bitcoin will be extremely volatile. I think from here on end it will only increase in use, however it may be currently overprice, since I think we are due for a correction

[AtheistAKASaneBrain]

Mohamed El-Erian the Ex ceo at pimco and the current chief economic adviser at Allianz in a discussion with CNBC , stated that..

"BITCOIN IS A DISRUPTIVE TECHNOLOGY BUT WILL NOT SEE WIDESPREAD USE."

Mohamed said that he thinks that the price is going to blow up because it cant be adopted at the current price it is at ,but can be used as a peer to peer currency since there are many more peer to peer currencies.

Read More => https://zycrypto.com/bitcoin-will-not-see-widespread-use/

More dumb CEO's of whatever going against Bitcoin. This is an obvious coordinated attack on Bitcoin to try to crush the price. They got nervous that it was going to cross the $5000 psychological barrier then skyrocket to $10,000+ so they started a mainstream FUD campaign.

This idiot says that Bitcoin cannot be adopted because of the high price. How nonsensical is that? Bitcoin grows in price as more and more people use and hodl it, it is a physical fact and a direct consequence of higher adoption. Judging by how he can't understand this, im not even going to bother to read the article. Fuck these guys and buy the dip. We'll show them they are wrong once again.

[13abyknight]

Mohamed El-Erian the Ex ceo at pimco and the current chief economic adviser at Allianz in a discussion with CNBC , stated that..

"BITCOIN IS A DISRUPTIVE TECHNOLOGY BUT WILL NOT SEE WIDESPREAD USE."

Mohamed said that he thinks that the price is going to blow up because it cant be adopted at the current price it is at ,but can be used as a peer to peer currency since there are many more peer to peer currencies.

Read More => https://zycrypto.com/bitcoin-will-not-see-widespread-use/

This has to be the most baseless rubbish ever spoken against Bitcoin and it is coming at a time where the market is muddled.

Firstly, Bitcoin is experiencing a very widespread usage from anything to everything. Not sure if he even realizes that over millions of dollars are traded in BTC on an everyday basis and this is all in their own pertaining fields of usage.
Secondly, Bitcoin has been adopted since its price was $0.1 and we all know the infamous 10,000 BTC pizzas. Today the price is over $3500 right now and if the average person can't get 1 BTC, he can trade in mBTC which is around $3.5 now so I don't see a problem there.
Lastly, Bitcoin was the first peer to peer currency to ever exist and people will obviously prefer the first one over the following. Its their own will to use BTC or any other token but BTC has been like the standard currency of the crypto market from the beginning.

With all this said, I have a piece of advise for him - "Never go full retard."

[Rinaze]

I do believe everyone is entitled to their own opinion and we have ours as well. You are free to believe in him and dump or you are free to believe what you have already researched and HODL!