Most bitcoin enthusiasts will have read the recent comments made by TransferWise CEO Taavet Hinrikus. According to him, Bitcoin is “dead, and the experiment is over”. Quite a strange statement, considering Bitcoin has been trucking along despite all of the adversity faced so far. Is this another case of lack – or willingness – to understand what Bitcoin is all about?
Also read: Ethereum Price Technical Analysis – New Weekly Low In Making TransferWise CEO Feels Early Bitcoin Investors Got Lucky
Reading through the entire article on Yahoo Finance , it is evident for everyone to see a lot of people still don’t get what Bitcoin is all about. Grasping a concept that is vastly different from what we know today, as well as being a direct competitor for just about anyone in the financial sector, can cause people to say the weirdest things sometimes.
Unfortunately for the TransferWise CEO Taavet Hinrikus , his statements on Bitcoin may very well come around to bite him in the rear some day. Saying how Bitcoin has “no traction, and no one is using it” is not only shortsighted but also an apparent rehash of what mainstream media outlets have been spoonfeeding people all over the world for seven years straight.
While it is certainly true individuals who acquired Bitcoin when it had no value may have gotten “lucky” with the price increase, the digital currency did not gain value out of thin air. Instead, the continuous failure by traditional finance has legitimized the concept of putting people in full control of their money at any given time, without charging outrageous fees.
One particular statement by the TransferWise CEO shows how little he knows about Bitcoin: “We’re not seeing real people use bitcoin. And we don’t know what problem it solves. Now, blockchain, […]
