Bitcoin is 'useless as a payment mechanism and ridiculous as a store of value

[Justin Jones]

Fiat money has value because we believe in it and assign it a value. Without the value assignment of users, fiat money just a piece of paper and worth nothing. Bitcoin is the same. If it is believed by many people and those people accept to sell and buy in Bitcoin, then Bitcoin can become a medium of exchange. The value Bitcoin has gained is what it stores.

[Pamela Andrade]

He's biased  because as the CEO of PayPal, he is considering Bitcoin as a competitor with his product.
"We've got digital currencies. And we've got digital currencies that are more stable, more widely accepted and have intrinsic value. We've already got it — it's called the dollar, the yen, you name it," Harris said. So doesn't he care about the technology behind Bitcoin - what makes it different from those traditional currencies? Is he scared that Bitcoin will take over the market and PayPal will fail to compete?

[blackandwhite89]

bitcoin price are fall down but ETF are not resposible for this. it is liquidity thats why here anything can happen. bitcoin price will go upward in future. it will make more profit for investor by increasing price more than $8000.

[9jaflick]

isn't this old news? i do realize that the shitty news sits are posting it now but the news itself (the quote) sounds quite old. i remember that Paypal CEO said this exact same thing a couple of months ago...

in other words it seems to me like news sites are running out of FUD to post during drops and are going back to re-posting the same stuff again

lol, this is what we see everyday, bloggers will do anything to get traffic, they don't care to know if the news is an old or not,  in as much as it will bring traffic they are good to go

[gabbie2010]

The CEO has not come to term with reality, his disparaging and derogatory comments about bitcoin is just a way of discouraging people, personally I think bitcoin has made online payment easier as a digital currency without any hassle of  useless and cumbersome KYC by the so called PayPal and other payment processors I can use bitcoin as a store of value.

[Mabinat]

this is another attempt to manipulate the market does not need to be driven by this

[Ferki]

The price of Bitcoin at 2010 was 0,06 $.Without any value.And it still has no value,no big background,no firm behind the project.And it costs about 6000$.You could buy all bitcoins with just 1 mio at 2010 and be the reachest man right now.ATH?Will come again 

[crypto-bit456]

bitcoin are now decrease their price. but it will go upward. ETF does no effect to fall down price. it is following liquidity thats why here anything can happen.it will be increasing price as early as possible more than $8000 in the end of this year.

[timerland]

He's literally saying here that USD is a good long term store of value. That's how absurd his entire argument is. His motivation for saying all this is obviously because of his links to Paypal, imo, even though he's not the CEO anymore.

I don't know about you guys, but I would definitely take bitcoin over any sort of fiat currency if I was to hold my wealth in something in the long run. Fiat currencies are centrally controlled and it has been demonstrated over and over again in history that the government will continue to be debasing the monetary supply, leading to depreciation.

Bitcoin on the other hand, is decentralized, and has an absolute limit on its supply - something that fiat currencies never has or will have. That itself debunks the argument that bitcoin is not a store of value. It is - and it is much better than fiats.

[easycoin995]

bitcoin price are down now that does not mean it is end. it will come back and it will increase price. you just wait for a good time. if you analysis the past year bitcoin price list you can guess this. it will go more than$10000.

[markluis]

This is absolutely a wrong and very old news. The CEO of Paypal is known to be hater of bitcoin. And he has told so many times before that the bitcoin is useless. If the bitcoin were useless then people off course didn’t show such interest. So, it’s better not to bother about his statement.

[kellyscott]

It is obvious he will say that because when bitcoin will be accepted worldwide with no transaction fee all the companies like pay pal will fall for sure. This is the main reason the CEOs of these companies are spreading rumors now.

[cryptoking963]

I saw bitcoin value is keep remaining on a stable price while many altcoins fee drop in the market. Some times I assume that paypal and other payments are gateway it will be swapped by bitcoin and cryptocurrency.

[blacknight789]

As an investor of Bitcoin, I would never say that Bitcoin is totally nothing in the payment system. It has good value in the field of store value and as well as for the payment system.

[Daybreak76]

The bitcoin users know the true value of it. So whatever Harris tells does not effect on them. He will say anything to keep track on his business. So it’s better to not take his discussion seriously

[thichtieuthuong]

Why is Bitcoin falling due to ETF, so ridiculous . There is no definite conclusion at present, whatever may happen, Bitcoin prices will increase in the future . It will make more profits to investors by raising prices by more than $ 16,000.

[blackmagic111]

No one can throw out the possibility of Bitcoin in the current situation. Because digitalization is the most important in this modern world and Bitcoin is doing the job. So, people have the highest confidence in bitcoin.

[AllenTurner]

Harris is famous for his hate towards the market, especially the BTC. It will be just better for us to avoid this guy and not to say any heed to what he says.

[blackrain321]

Anyone can say any kind of thing from his thoughts. But there is my trust in Bitcoin, I think other investors like me are also fully trust on it. And investing their investment and trading by believing in Bitcoin.

[GreenHarbor57]

This is old news actually. But for the retrospect, it will be better to give the spotlight to people like Harris who have nothing but acid in their mouth about BTC.