Former CEO of Paypal on CNCB: "Bitcoin is going to 0"

[cellard]

He is back:

https://www.youtube.com/watch?v=IKPLH7n5DWw

I remember watching Bill Harris being very bearish about Bitcoin, always questioning the fundamentals and saying it's worthless, just a ponzi scheme that will go out of fashion, just a trend, very much in the style of Jamie Dimon.

Another video here:

Former PayPal CEO Bill Harris Reveals Why He Thinks Bitcoin Is The Biggest Scam In History | CNBC

Is this an actual bullish indicator? Let's look at the Jamie Dimon indicator:



We'll have to wait and find out.

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[YuginKadoya]

They always say the same things that bitcoin is fraud, scam, will go to zero, Etc.... And much more to come But this is all just FUD and when the price of bitcoin rises quickly they will be gone in an instant without a trace and I never have been a fan of paypal at all, There are a lot of issues regarding their services and Paypal never supported bitcoin from the start you will sure need a third party exchange in putting your money from your bitcoin wallet to your paypal, That is why I already stop using my paypal a long time ago.

[bobo012]

LOL, that guy is a joke, I would not hire him to mop the floor in my firm. Unbelievable how some people are shortsighted and are not embaressed to make fools of them on tv. How that guy can be a ceo of anything is what bothers me.

[Lucius]

He is back:

https://www.youtube.com/watch?v=IKPLH7n5DWw

I remember watching Bill Harris being very bearish about Bitcoin, always questioning the fundamentals and saying it's worthless, just a ponzi scheme that will go out of fashion, just a trend, very much in the style of Jamie Dimon.

Another video here:

Former PayPal CEO Bill Harris Reveals Why He Thinks Bitcoin Is The Biggest Scam In History | CNBC

Is this an actual bullish indicator? Let's look at the Jamie Dimon indicator:



We'll have to wait and find out.

Frankly this interview is just his free promotion, his opinion is known from before and fact that he is saying again same things does not mean anything. If he is convinced of what he is talking about let it be so, we certainly should not pay attention to people like him or Warren Buffett. I cant see how this interview can be bullish indicator, why should price go up if he say BTC is going to zero?

I watch video from first to last second, and that other person who talked with Billy is literally blew it off from the studio. BTC will go to 0 and it is used only by criminals, that is all Billy can say, ridiculous...

[muslol67]

If Bitcoin succeeds in the future, many banks will have a hard time. But surely, there will be no need for payment companies like Paypal. Because the smart contracts that do the job can do much better. That's why it's normal for Paypal investors not to like Bitcoin.

[1Referee]

Unbelievable how some people are shortsighted and are not embaressed to make fools of them on tv. How that guy can be a ceo of anything is what bothers me.

He's not shortsighted at all, just a hypocrite because of his by external parties (likely banks and whatnot) sponsored bias.

This dude knows exactly what makes a great payment tool or service, and the way he tries to talk Bitcoin down shows exactly that. If Bitcoin was really not worth anything and had no potential, no one even remotely connected to the fintech sector would even bother to speak out against it because they know it would vanish anyway. Them trash talking Bitcoin means it's a competitor with an insane amount of potential, especially with LN fully deployed.

That dude didn't even said one single word about LN. He knows there is not much to trash talk there. What beats near instant and near free transactions? Can't think of anything.

Also, we need these skeptics to be around. I'm in the mood for some bearish trash talk after how we have been flooded for months with $100,000 before this or that time nonsense.

[cellard]

Unbelievable how some people are shortsighted and are not embaressed to make fools of them on tv. How that guy can be a ceo of anything is what bothers me.

He's not shortsighted at all, just a hypocrite because of his by external parties (likely banks and whatnot) sponsored bias.

This dude knows exactly what makes a great payment tool or service, and the way he tries to talk Bitcoin down shows exactly that. If Bitcoin was really not worth anything and had no potential, no one even remotely connected to the fintech sector would even bother to speak out against it because they know it would vanish anyway. Them trash talking Bitcoin means it's a competitor with an insane amount of potential, especially with LN fully deployed.

That dude didn't even said one single word about LN. He knows there is not much to trash talk there. What beats near instant and near free transactions? Can't think of anything.

Also, we need these skeptics to be around. I'm in the mood for some bearish trash talk after how we have been flooded for months with $100,000 before this or that time nonsense.

The problem with these guys is that they cannot get their heads around the concept of having value outside of the approval of governments, which is the main point of Bitcoin. So for as long as they think anything that isn't approved by a strong government "doesn't exist" and in the sense that it still has value, is a temporary one and will go to zero, there is no way to argue with them because that is their worldview.

LN being a success or not isn't even the point, it's just what I said. They cannot fathom the concept of value outside of government approval. CNBC hasn't invited a single guy on their show that states this point as far as im concerned. They should get someone with some knowledge on the concept of hard money like Saifedean Ammous.

[Tytanowy Janusz]

LOL, that guy is a joke, I would not hire him to mop the floor in my firm. Unbelievable how some people are shortsighted and are not embaressed to make fools of them on tv. How that guy can be a ceo of anything is what bothers me.

He is not a joke. Imagine if you are making bilions $ on your payment system. And now BTC, decentralized and safer method that allows evey user to store his money on his hardware and trafer them without any permission on platworm that cannot be stopped by any goverment and his founds cannot be tauched by anyone without his permission and his key to his wallet can be stored in his brain by chosen sentance. He knows that if BTC will collect more and more users than he will loose more and more. The only possibility for him is to boycott BTC before it wil hit mass adoption. He cannot corrupt goverments because even they cannot stop BTC.

[1Referee]

The problem with these guys is that they cannot get their heads around the concept of having value outside of the approval of governments, which is the main point of Bitcoin.

Oh, they surely can. It's just people here thinking they can't, which is a completely different story. It goes up for Warren Buffett and Bill Gates as well. Do people seriously believe these entities don't know how things work? Come on. People here really need to grow up.

The whole point here is that they don't want people to store value outside centralized prisons where governments or corporations can't seize/freeze your funds. If people get to know what Bitcoin really stands for and makes everything around it pretty much obsolete, it's a massive blow to every business in the same field potentially. Banks and PayPal & co have never thought to face something like Bitcoin that you can't stop.

LN is the difference that will potentially be the fatal blow to them. Bitcoin as digital Gold is something they can somewhat handle since it's not a good form of money right now. If Bitcoin gets its currency aspect together, oh boy, brace yourself for the shit that Bitcoin will have to eat through.

[Gaaara]

As always people like this one only saying bad rumors about bitcoin without having any proof of statement or any information of how they say so, I doubt that it will happen since bitcoin is widely spreading across the world and at some point there is always a person who'll believe at this, the only way I see bitcoin going to 0 is if everyone who uses it and anyone who wanted to use it or have used it will reject it and stop the worldwide trade of bitcoin and if conduct it there is a super low chance of this happening, not now not ever.

[adaseb]

If that guy was so sure Bitcoin was going to 0 he could short the futures or even buy some $1000 puts on certain sites likes Deribit or LedgerX.

However he is just guessing or had a bad day and had nothing else to comment on.

Bill Gates did the exact same thing. The Winkvoless twins responded on live TV and said "Please short bitcoin then".

Did he short Bitcoin? Most likely not.

[cellard]

The problem with these guys is that they cannot get their heads around the concept of having value outside of the approval of governments, which is the main point of Bitcoin.

Oh, they surely can. It's just people here thinking they can't, which is a completely different story. It goes up for Warren Buffett and Bill Gates as well. Do people seriously believe these entities don't know how things work? Come on. People here really need to grow up.

The whole point here is that they don't want people to store value outside centralized prisons where governments or corporations can't seize/freeze your funds. If people get to know what Bitcoin really stands for and makes everything around it pretty much obsolete, it's a massive blow to every business in the same field potentially. Banks and PayPal & co have never thought to face something like Bitcoin that you can't stop.

LN is the difference that will potentially be the fatal blow to them. Bitcoin as digital Gold is something they can somewhat handle since it's not a good form of money right now. If Bitcoin gets its currency aspect together, oh boy, brace yourself for the shit that Bitcoin will have to eat through.

I unironically think that, at least some of them, cannot fathom the concept of storing value outside of government approved assets. Most of them also say gold is mostly trash, like Mark Cuban for instance, but he says that at least gold is used for some physical stuff, but the speculative part for him is trash because he cannot fathom the government going south.

Sure some of them get it and see it as a threat.

For me Bitcoin is already as good as it gets. If LN works out, that's just a bonus. I hope it all goes well and we start seeing it competing with payment procesors but again, difficult to compete with centralized entities in terms of speed and so on.

People need to get that what makes Bitcoin valuable it's already there. LN is an extra.

Also funny how none of these that think it's going to 0 open shorts. They always find some excuse to not short it. At the end of the day they are scared and not sure about their prediction.

[figmentofmyass]

Also, we need these skeptics to be around. I'm in the mood for some bearish trash talk after how we have been flooded for months with $100,000 before this or that time nonsense.

seriously. i've had quite enough of these "$25k or $50k by end of year" calls. we've been so saturated with that sort of hyper bullish sentiment, it's obvious why the market has been so stagnant.

we need the bears to feel confident before the tide can really turn. bears were very confident in 2015 near the bottom (i was one of them )

[bitbunnny]

He is just trying to find the way to promote himself, nothing else.
This is just pure guessing without any solid information or grounded theory. He is not the first or the last one to say something like this but why giving to such statements any importance at all. Just because he' s former PayPal CEO? That doesn't mean anything and it's not giving him any credibility .
So, just forget about it.

[BitHodler]

Also funny how none of these that think it's going to 0 open shorts. They always find some excuse to not short it. At the end of the day they are scared and not sure about their prediction.

Everything that's emerging in some way is a dangerous short. I remember how Tesla was subject to the same trickery in an attempt to manipulate the sentiment, but none of them have actually done so.

Bill Gates not knowing how to short Bitcoin was one of the funniest things I have heard at that point. He knows how to short or long his own stock but doesn't know how to short an asset as Bitcoin through CME? What a joke.

It was all in the news and probably the main reason the price went up to nearly $20,000 last year. If he shorted Bitcoin at peak levels I would at least have given him some credits for that.

[entrepmind23]

They always say the same things that bitcoin is fraud, scam, will go to zero, Etc.... And much more to come But this is all just FUD and when the price of bitcoin rises quickly they will be gone in an instant without a trace and I never have been a fan of paypal at all, There are a lot of issues regarding their services and Paypal never supported bitcoin from the start you will sure need a third party exchange in putting your money from your bitcoin wallet to your paypal, That is why I already stop using my paypal a long time ago.

This is not surprising from the perspective of the competitor because they would do all means to get rid of it. They may be able to convince those people who are not into bitcoin yet but for those who do, well good luck to them as their moves are already obvious from the start. Majority of the crypto community would not listen to their babbling because as long as people earn from it then they will continue using it.

He is just trying to find the way to promote himself, nothing else.
This is just pure guessing without any solid information or grounded theory. He is not the first or the last one to say something like this but why giving to such statements any importance at all. Just because he' s former PayPal CEO? That doesn't mean anything and it's not giving him any credibility .
So, just forget about it.

Just what you said, he is the former Paypal CEO and a competitor of cryptocurrencies when it comes to payment options that's why people take notice of what he is saying. He is biased with his former company that's why anything that he would say would just equate to protecting the business and not his own. Who knows, he is also investing in cryptocurrency and just want to buy it cheap.

[cellard]

They always say the same things that bitcoin is fraud, scam, will go to zero, Etc.... And much more to come But this is all just FUD and when the price of bitcoin rises quickly they will be gone in an instant without a trace and I never have been a fan of paypal at all, There are a lot of issues regarding their services and Paypal never supported bitcoin from the start you will sure need a third party exchange in putting your money from your bitcoin wallet to your paypal, That is why I already stop using my paypal a long time ago.

This is not surprising from the perspective of the competitor because they would do all means to get rid of it. They may be able to convince those people who are not into bitcoin yet but for those who do, well good luck to them as their moves are already obvious from the start. Majority of the crypto community would not listen to their babbling because as long as people earn from it then they will continue using it.

He is just trying to find the way to promote himself, nothing else.
This is just pure guessing without any solid information or grounded theory. He is not the first or the last one to say something like this but why giving to such statements any importance at all. Just because he' s former PayPal CEO? That doesn't mean anything and it's not giving him any credibility .
So, just forget about it.

Just what you said, he is the former Paypal CEO and a competitor of cryptocurrencies when it comes to payment options that's why people take notice of what he is saying. He is biased with his former company that's why anything that he would say would just equate to protecting the business and not his own. Who knows, he is also investing in cryptocurrency and just want to buy it cheap.

I just think these guys are too high on the fiat pyramid that they cannot fathom any sort of competition and really believe Bitcoin is worthless. When you are at the top, you become blinded. This is how empires fall, and their power vacuum become filled by what they thought was a mirage or a non threat.

It's either that, or they are secretly buying small amounts. I say small amounts because if these billionaires diversified to any relevant degrees, due Bitcoin being tiny, we would know and we would know immediately, the price would skyrocket. Of course they would most likely go OTC, but I think it would leak on the news quickly, so it would have an impact on the markets.

[Pejoh Asu]

It must be admitted that the very rapid performance of bitcoin is a threat to payment systems such as western union and paypal, this is what makes many people dislike bitcoin so they do everything they can including negative news to panic users.

[reactorjuno]

Great news! Bill Harris saying that stuff again means Bitcoin will go to 50k soon.  

[snipie]

Great news! Bill Harris saying that stuff again means Bitcoin will go to 50k soon.  

I do not know why I remembered a bitcointalk user called kwuckduck when I read this 
It is shameful for a CEO to speculate such idiotic stats.