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Author Topic: [2014-10-15] PayPal's founders and Bitcoin's 'ridiculous' status  (Read 1518 times)
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October 15, 2014, 02:38:56 AM
Last edit: October 15, 2014, 04:53:54 PM by malevolent
 #1

http://www.businessspectator.com.au/article/2014/10/15/technology/paypals-founders-and-bitcoins-ridiculous-status
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October 15, 2014, 03:48:30 AM
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And the number of days in the month of October continues to magically grow.
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October 15, 2014, 05:20:19 AM
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.. as does the value of a bitcoin - up 133 per cent in October!
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October 15, 2014, 11:25:39 AM
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Max Levchin, one of the founders of PayPal, says that as an asset class bitcoin is “ridiculous” but believes the current decline is a good thing because it is “zeroing on fair value, whatever that is”.

The only thing that is ridiculous here is that statement. I don't know what zeroing on fair value is or means and obviously neither does he.
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October 15, 2014, 01:33:24 PM
Last edit: October 15, 2014, 03:41:48 PM by aigeezer
 #5

Quote
Max Levchin, one of the founders of PayPal, says that as an asset class bitcoin is “ridiculous” but believes the current decline is a good thing because it is “zeroing on fair value, whatever that is”.

The only thing that is ridiculous here is that statement. I don't know what zeroing on fair value is or means and obviously neither does he.

Indeed. Within the FUD was more FUD. He could have said "trending toward", for example, rather than "zeroing on".

The intended subliminal takeaway was presumably "zero, zilch, nada, goodbye BTC". Edited for clarity

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October 15, 2014, 03:04:45 PM
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its cool to see those already in the financial sector coming to agreement that "cryptocurrency is here to stay."  Those are good indicators of what is to come!
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October 15, 2014, 04:50:52 PM
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Max Levchin, one of the founders of PayPal, says that as an asset class bitcoin is “ridiculous” but believes the current decline is a good thing because it is “zeroing on fair value, whatever that is”.

The only thing that is ridiculous here is that statement. I don't know what zeroing on fair value is or means and obviously neither does he.

He is not entirely wrong, bitcoin as an asset is not performing well. He believes the fair value for bitcoin is below the current prices and he hasn't got a clue how low it will go.

One of the reasons bitcoin is fluctuating so much, is merchants like them can't make there minds up and do not release a definite timeline.

If they accept bitcoin tomorrow, bitcoin will not be a "ridiculous" asset any longer.

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October 16, 2014, 10:38:52 AM
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Quote
Max Levchin, one of the founders of PayPal, says that as an asset class bitcoin is “ridiculous” but believes the current decline is a good thing because it is “zeroing on fair value, whatever that is”.

The only thing that is ridiculous here is that statement. I don't know what zeroing on fair value is or means and obviously neither does he.

Indeed. Within the FUD was more FUD. He could have said "trending toward", for example, rather than "zeroing on".

The intended subliminal takeaway was presumably "zero, zilch, nada, goodbye BTC". Edited for clarity



Yeh, I didn't like the wording, but he himself even seemingly admits he doesn't know what it it means.

He is not entirely wrong, bitcoin as an asset is not performing well. He believes the fair value for bitcoin is below the current prices and he hasn't got a clue how low it will go.

One of the reasons bitcoin is fluctuating so much, is merchants like them can't make there minds up and do not release a definite timeline.

If they accept bitcoin tomorrow, bitcoin will not be a "ridiculous" asset any longer.

True, but just because it is still finding its footing currently doesn't mean it wont in the future or turn into a fantastic asset or investment.
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