30 People Who Were Really Wrong About Bitcoin

The Dumbest Bitcoin Predictions Ever Made
Every disruptive piece of technology attracts its haters and sceptics. Some people just don’t get it, some don’t want to, and others dismiss it out of self-interest. Just this week, former U.S. Federal Reserve chairman Al Greenspan declared: “Bitcoin is not a rational currency.” This is coming from the same man who, in 2011, said: “The United States can pay any debt it has because we can always print money.”
2011
“So, That’s the End of Bitcoin Then” – Forbes. The publication continues:[Bitcoins are] not liquid, nor a store of value, as the price collapse shows and if they’re none of those things then they’ll not be a great medium of exchange either as who would want to accept them?…It’s difficult to see what the currency has going for it.
2013
“The Bitcoin Is Dying. Whatever.” – Gizmodo Australia. It reads:So Bitcoin, we’ll remember the good times, like the time that one guy who got heat stroke while mining Bitcoins. Or the time there was the great heist caper that shut down trading site Mt Gox for an entire day. The lulz were abundant. But frankly, it’s time for you to go. Farewell.

2014
2014 was peak stupidity for writing off bitcoin, as the following soundbites show. Jason Hoffman, Ericsson vice president: Bitcoin’s blockchain is a good strategy to emulate if “you throw away the actual currency part of it.” “Bitcoin is neither a relatable store of value nor a helpful unit of account.” – Reuters John Crudele, New York Post columnist:Bitcoins are a fake currency that is nothing more than a confidence scheme. Their only value is that there are a few layers of gullible people who are willing to accept them as some form of payment. Eventually this confidence game will end. Go out and buy Beanie Babies instead. At least you can take them to bed at night.

Anyone who thinks that Bitcoin will triumph has to believe that it will succeed where earlier generations of private currencies failed — that Bitcoin will, improbably, manage to overthrow more than a century’s worth of accumulated state power, jealously guarded and ruthlessly enforced. That’s a preposterous fantasy — and a dangerous one, if you’re an investor.


NYU economist and professor Nouriel Roubini:“You’ll be much better off owning productive assets over the next 50 years than you will be holding…bitcoins. It’s not a currency. I wouldn’t be surprised if it wasn’t around in the next 10-20 years.”


2015

“The blockchain does not solve a single problem that anyone, anywhere has – unless you are a criminal and need an anonymous currency to pay or be paid.” – PYMNTS.comThere will be no real, non-controlled currency in the world. There is no government that’s going to put up with it for long…there will be no currency that gets around government controls.

The Guardian: “Spare a thought for the companies scrabbling to jump off the bitcoin ship before it sinks. The currency’s value has been static for months (except for a brief boom and bust in early November when it was caught up in a Chinese ponzi scheme), but perhaps more damningly still, the hype has all but disappeared.”Bitcoin is a non-thing. It will never be able to have an independent, sovereign value on its own, because it is a non-thing…the Bitcoin is, in fact if not in intention, a fraud; it is an attempt to muscle-in on the enormous scam of universal fiat money, which is a curse upon mankind. And as a scam, it will go to the dustbin of history.
2016
Taavet Hinrikus, CEO of TransferWise:“R.I.P. Bitcoin. It’s time to move on.” – Washington Post “Bitcoin was supposed to change the world. What happened?” – VoxBitcoin, I think we can say, is dead. There is no traction, no one is using bitcoin. The bitcoin experiment, I think we can say, is over.
2017

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Bitcoin is a decentralized digital currency that enables near-instant, low-cost payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: transaction management and money issuance are carried out collectively by the network. Read all about it at wiki.Bitcoin.com. The post 30 People Who Were Really Wrong About Bitcoin appeared first on Bitcoin News.
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