This is the second time I've heard him say that "long term bitcoin will be zero". I can't even process how he came to that conclusion, since Bitcoin has seemingly been non-zero (and climbing) for 8 years now WITHOUT a futures market.
I didn't watch it. I can't. I'd cringe too much. But even totally broken beyond repair, it would never go to zero. It's nearly impossible to imagine such a world. How does he do it?
you should watch, it's only 5 minutes and he's the CEO of one of the most successful trading sites in the world.
he's convinced this is going to zero for the same reason all of us were certain this was a scam.. at first..
I heard about bitcoin when it had no price, pretty much. There was no exchange, the only thing I could find was some bulletin board where people were trying to make trades. Then MT GOX entered the picture and we got a pretty quick glimpse into price discovery (price went from like a dollar to over 30 bucks in a couple weeks, and then they got "hacked" and the rest is history)
anyways, my point is, everyone thinks bitcoin is a scam the first time they hear about it. it isn't until you really spend some time to look into it that you realize what it really is...
This guy is running a very big, very successful business. He doesn't have the time to look at this in depth (to his own detriment)
Anyways, I think it's helpful to at least hear the views of the naysayers, especially when they are the CEO of one of the larger trading platforms on the planet.