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
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
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.
I agree … it’s only a bubble
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.