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Mark Cuban Does Not See Long Term Future for Bitcoin as a Currency

September 26, 2014 by Raymond Hackney

Bitcoins

Mark Cuban does not see Bitcoin being a long term play as far as being a currency. Cuban told Entrepreneur that if ever got into Bitcoin it would be purely for the entertainment value, kind of like buying and selling baseball cards. This is not the first time Cuban has expressed a disinterest in the crypto currency, back in March at SXSW that he did not see the long term play.

From the article:

Like many, Cuban compares Bitcoin to gold and says central banks will never let it truly succeed. He also noted that “no one” that he knows in traditional sales who accepts it as payment keeps it as Bitcoin: “They all translate it to dollars.” And, if they convert the digital money to traditional fiat money, in his mind, it’s not a currency.

“As a transport mechanism, an accounting digital transport mechanism, it’s unique and has a great opportunity in the future,” Cuban told USA Today. “I think it’s got no shot as a long term digital currency.”

Read the full article on Entrepreneur.com

Filed Under: Bitcoin, Crypto Currency

About Raymond Hackney

Raymond is a writer, domain trader and consultant based in Pennsylvania. Raymond is the founder of 3Character.com and TLDInvestors.com.

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Comments

  1. Vendita Auto says

    September 27, 2014 at 2:35 am

    Surely it has always been about the Satochi system (evolving) It is inevitable:
    http://www.vox.com/explains/2014/4/23/5643382/how-bitcoin-is-like-the-internet-in-the-80s#ooid=tsb25lbToISHgzn2Dvfvpex0dvj3Kh7e

  2. Domenclature.com says

    September 27, 2014 at 6:05 am

    Like many, I respect Cuban’s story. Here’s an young guy, who is not only a dashing entrepreneur, but one who has almost attained the ‘mogul’ status.

    But, like all humans, his prediction of the future is tempestuous. By nature, the future is often stormy, blustery, squally, wild, turbulent, on predictions.

    Plus, how far away is the future? Next year? A decade?

    The future is a vector quantity, with magnitude and direction. Cuban’s prediction for Bitcoin is incomplete, and sentimental.

  3. +++ Amazing Domains +++ says

    September 28, 2014 at 3:42 am

    I agree … it’s only a bubble

  4. Ramahn says

    September 28, 2014 at 8:46 am

    Yes, it’s the technology (transport mechanism) that makes bitcoin unique. Almost like a chit system, but digital. Everyone always converts into real money (dollars) so it’s backed by dollars….and dollars backed by……you and me.


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