Quote from: acmakc12 on May 08, 2018, 11:38:01 AM

American businessman Bill Gates again spoke out against the first crypto currency: in the Squawk Box program on CNBC, the co-founder of Microsoft called bitcoin one of the most speculative things in the world. This slightly tilted the course of the coin on Monday, May 7, but today it is still in the green zone.

"I would oppose bitcoin if there was an easy way to do this," said Bill Gates, co-founder of Microsoft Corporation in CNBC's Squawk Box, on Monday, May 7.

"As an asset class, you do not produce anything, and so you should not expect it to rise, it's a kind of pure investment" stupid theory, "Gates said in the CNBC program" Squawk Box. "

"Bitcoin and ICO, I believe, I believe, these are some of the crazy, speculative things," Gates said. He added that someone once gave him bitcoins for his birthday, but he sold it in a few years.

According to Gates, there is no need to count on the growth of bitcoin's value: "from the point of view of the asset class, you do not produce anything." The largest shareholder of Microsoft considers investing in this cryptonet "the theory of a bigger fool in its pure form."

She claims that money can be made by acquiring securities without regard for their quality and selling them at a profit, because there will always be a "bigger fool." Proceeding from the theory, speculative bubbles grow in this way, which burst with time and bring down the value of shares in a mass sale.

Note that earlier Gates accused the BTC of the death of people, pointing out that the coin is often used to buy drugs. In November 2014, the businessman called bitcoin "a revolutionary technology and the most innovative solution in the modern Internet payment market."

Like many critics of crypto currency, Gates acknowledged that the basic technology of blockchain has its advantages. Blocking eliminates the need for a third-party intermediary, such as a bank, to quickly create a secure, permanent report on the transaction between the two parties. Bitcoin is the first application of blocking technology, and companies are exploring ways to use technology to manage supply chains, trade and other areas.

I think he's being peer pressured by warren buffet. I have actually heard him speak positively of crypto a few months ago. I wonder what has changed

Austin Alexis

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