astrong
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April 26, 2018, 01:38:41 PM |
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So this former PayPal ceo has claimed btc is the worlds biggest ever scam! let me deconstruct his argument. His arguments were as followed and filled with half truths and your typical anti btc arguments;
1) Useless as a currency due to volatility.
So this at the moment is kind of true, not many vendors are accepting btc due to the fact the currency can swing upwards/downwards of 10% in a day. But this is completely disregarding the fact that we are at such an early stage. Price discovery is still a real thing and if you look back at any emerging markets this volatility goes on for years! BTC is 9 years old.
2) No intrinsic value
Is having a completely barrier free value transfer system operating completely neutral politically accessibly by anybody with an internet connection not a value? From up in his ivory tower maybe this isn't valuable but for the billions excluded from the financial system this will one day be life changing
Another thing to add. Peter theil who is also a former CEO of PayPal is one of the biggest proponents of crypto so take this article that has been doing the rounds with a grain of salt
He is true, but there is some points I don't agree with him. Bitcoin is NOT useless as a currency ! If bitcoin is useless, so why there is some country which adopt bitcoin for their transaction such us japan ? Bitcoin is usefull but has a weakness as the bubble price. We have to do something to fix this weakness, can we? |
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blockchainwriters
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Activity: 280
Merit: 15
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April 26, 2018, 01:40:54 PM |
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Now new Fud news started regarding bitcoin scam game it is never ending story every top executive come and say it is a scam but bitcoin grows stronger every time
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Hexah
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April 26, 2018, 01:42:11 PM |
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I guess he knows that it's his biggest competitor in the course of online payment system. "It's called business".
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GrandBcn
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April 26, 2018, 01:43:35 PM |
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Yes, I'm, too, when I read his application immediately thought about the money. Such loud statements are made only when it associated with money. Paypal losing money and as a consequence - bitcoin is bad. If they somehow integrate bitcoin into their system, the situation will change immediately. They will be on every corner & shout that bitcoin is good and the blockchain is generally the manna of heaven. It's only money. As a whole, people are always angry when they lose their profits - this is normal.
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onnz423
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May 07, 2018, 08:26:22 PM |
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Hmm, that's not suspicious at all. The former CEO of the bigger online payment method bashing the service that threatens to destroy it. Well as it is quite obvious PayPal highly dislikes bitcoin and all other crypto-currencies, as they do not allow for the exchange or purchase of bitcoins through the use of PayPal. Now I believe that because he is scared that bitcoin has a chance to take over PayPal and because he most probably has stocks/equity he is trying to scare people off of bitcoin simply to try and make as much money as possible off of PayPal.
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fosco333
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May 08, 2018, 02:23:08 AM |
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So this former PayPal ceo has claimed btc is the worlds biggest ever scam! let me deconstruct his argument. His arguments were as followed and filled with half truths and your typical anti btc arguments;
1) Useless as a currency due to volatility.
So this at the moment is kind of true, not many vendors are accepting btc due to the fact the currency can swing upwards/downwards of 10% in a day. But this is completely disregarding the fact that we are at such an early stage. Price discovery is still a real thing and if you look back at any emerging markets this volatility goes on for years! BTC is 9 years old.
This has a point. as long as bitcoin value still volatile, it cannot be use for daily currency. but bitcoin is not only a currency. it is an investment, long period of investment, not a common currency. |
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pooya87
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Activity: 3444
Merit: 10558
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May 08, 2018, 03:04:14 AM |
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it feels very good to read this here!
this only shows that bitcoin is working as it should and it proves that bitcoin is growing bigger and bigger every day. because now it is starting to worry these people enough for them to make statements like this. PayPal's days are numbered now and they will be forced to close down shop soon or adapt with the new world with bitcoin as a big part of it.
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daarul50
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Activity: 1596
Merit: 1034
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May 08, 2018, 08:58:24 AM |
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I think the reason why former PayPal CEOs say such things is because they do not want PayPal's products and services to be overtaken by bitcoin that continues to grow and be trusted by people because it can harm PayPal where its users are beginning to switch to bitcoin. Do not be swayed by news like this because it could be only intended to affect the price of crypto in the market for a moment.
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soraxas01
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May 08, 2018, 09:11:37 AM |
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Maybe because he us scared of what bitcoin can do to his company? I maybe wrong but other crypto are scams but bitcoin remains at thr top next to it is etherium. But j do agree on the price of bitcoin in which it is volatile and cannot be used for daily currency.
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stayeduptolate
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May 09, 2018, 05:36:38 PM |
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So this former PayPal ceo has claimed btc is the worlds biggest ever scam! let me deconstruct his argument. His arguments were as followed and filled with half truths and your typical anti btc arguments;
1) Useless as a currency due to volatility.
So this at the moment is kind of true, not many vendors are accepting btc due to the fact the currency can swing upwards/downwards of 10% in a day. But this is completely disregarding the fact that we are at such an early stage. Price discovery is still a real thing and if you look back at any emerging markets this volatility goes on for years! BTC is 9 years old.
2) No intrinsic value
Is having a completely barrier free value transfer system operating completely neutral politically accessibly by anybody with an internet connection not a value? From up in his ivory tower maybe this isn't valuable but for the billions excluded from the financial system this will one day be life changing
Another thing to add. Peter theil who is also a former CEO of PayPal is one of the biggest proponents of crypto so take this article that has been doing the rounds with a grain of salt
If he is saying such a huge thing about bitcoin then he must be saying on some ground and I don’t think that he is also wrong because he must be saying this on some ground as bitcoin is being use for some illegal activities like selling drugs,explosives, money laundering, ransom killing and more more and moreover this is also possible very easily before bitcoin transactions does not involve any third party seizure and moreover there is no intrinsic value of bitcoin, though bitcoin is very sustainable crypto currency but it is volatile. |
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jeremypwr
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May 09, 2018, 05:53:32 PM |
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Yeah yeah heard it all before. With every big shot CEO who slams Bitcoin, there are plenty of other successful ones who are praising it.
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_AlexX
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May 09, 2018, 05:55:59 PM |
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when there are haters, it shows that bitcoin and cryptocurrencies are working. something so useless as they claim, does not have haters.
the big boys are coming in and we are part of this. makes me proud. big money always takes time but finally, in 2018 it will happen I am sure about that.
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Thyristor
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May 09, 2018, 06:02:52 PM |
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95% of cryptocurrencies are scams, not Bitcoin. Bcash is a scam, Ripple is a scam, all minority forks are scams and all premines are scams.
I don't expect a Paypal dude to understand Bitcoin in the first place. If he did, Paypal would not have the ridiculous fee structure they have. Paypal is so passe, 10 years behind the world.
Please make sense it's not right to know nothing.Have any reference regarding 95% of cryptocurrencies are scam?.I know you can not give any proof of this claim.95% cryptocurrencies are scam it's absolutely wrong man. |
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uray
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May 09, 2018, 06:14:09 PM |
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95% of cryptocurrencies are scams, not Bitcoin. Bcash is a scam, Ripple is a scam, all minority forks are scams and all premines are scams.
I don't expect a Paypal dude to understand Bitcoin in the first place. If he did, Paypal would not have the ridiculous fee structure they have. Paypal is so passe, 10 years behind the world.
Please make sense it's not right to know nothing.Have any reference regarding 95% of cryptocurrencies are scam?.I know you can not give any proof of this claim.95% cryptocurrencies are scam it's absolutely wrong man. What does it have to do with the scam coins, majority of the projects wont end up in a result and that is a fact we must accept, paypal is afraid of bitcoin because it directly reflects his business and he will be closing down his business if bitcoin is widely accepted, you will hear these comments from similar business owners who were milking the users till now.  |
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