...says Saudi billionaire investor Prince Alwaleed bin Talal. He added,
"It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision [of any central bank]... I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making..."
Read more of it here:
https://www.c[Suspicious link removed]m/2017/10/23/prince-alwaleed-says-bitcoin-will-implode-enron-in-the-making.html
What do you think guys? Does his opinion have any real or historical basis? Or is his just a misinformed opinion?
(Note: I know that this post should probably be in the child board
Press, but most of the stuff going on there are just news postings and not much else. I just want to know your informed and intelligent take on his opinion. Thanks.)
I think the fact that it is independent of a central bank makes it immune to bankruptcy. However, a government could ban it or overregulate it but it would take several major governments to make these laws before it could kill it.
Bitcoin is a technology of the people rather than a business or government, in the same way that the internet is not owned by anyone. If it has lasted this long, it will probably be around for a while.