[2017-06-09] Google's Director of Engineering Won't Invest in Bitcoin

VasyaPupkin

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MenaPay - Crypto made easier than cash

Quote from: TravelMug on June 10, 2017, 05:55:06 AM

Well they are Google, what do you expect? Maybe he really doesn't know anything about bitcoin. He mentioned price stability, which bitcoin market doesn't and will not have in foreseeable future. So sorry for him not understanding the bitcoin ecosystem. That's why we said the investing in bitcoin is not for the faint of heart. If he see that the price declined and he have big investment, he might get a heart attack. Bitcoin is not for him.

I do not think that the developers of Google do not know about bitcoin. It seems to me that this is just a cunning move. Today they refuse to invest in bitcoin, and tomorrow they will implement the technology blockchain

btbrae

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Meanwhile if you were holding £ since 2008 it dropped 45%, let's talk volatility shall we...

He's director of engineering not director of finance for a reason.

Not everybody at Google is on the ball... they missed every crypto bubble so far. Considering they were once a cutting-edge technology firm they are very slow these days and seem to jump on bandwagons late and half-heartedly.

TravelMug

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Well they are Google, what do you expect? Maybe he really doesn't know anything about bitcoin. He mentioned price stability, which bitcoin market doesn't and will not have in foreseeable future. So sorry for him not understanding the bitcoin ecosystem. That's why we said the investing in bitcoin is not for the faint of heart. If he see that the price declined and he have big investment, he might get a heart attack. Bitcoin is not for him.

1Referee

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Yes, Satoshi introduced Bitcoin as a decentralized peer to peer payment system, but I seriously don't understand why people till this day take this aspect of Bitcoin so serious. In local situations people will use something that offers them convenience, and that bit of convenience comes from fiat - no matter how much of a Bitcoin lover you are, there is no point into denying that. Bitcoin for me shines in the aspects of it being a store of value, and ultimate remittance tool - that's all I need. I must however note that Bitcoin's currency aspect will get a boost after Segwit -> Lightning Network. It will largely close the gap that exists between fiat and Bitcoin in currency terms, but we're not there yet.

White sugar

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When Google’s director of engineering, Ray Kurzweil, started accepting audience questions at the Exponential Finance conference earlier today, the first three asks were about blockchain.

The man who in large part built his reputation based on what are widely considered accurate predictions based on historical data, talked about the power he believes cryptocurrencies have to cross borders and maybe replace national currencies.

But, he expressed skepticism that bitcoin would be that replacement. Addressing an audience of 700 senior executives, technologists and more, at the Exponential Finance event hosted by Singularity University, which he co-founded, Kurzweil explained his doubts.

While he described "assumptions" about bitcoin’s ability to scale as "quite accurate" he said that people won’t be looking at algorithms to make their spending decisions.

Instead he argued that it was the historic stability of a currency that makes it valuable, stability he said has been lacking in bitcoin.

http://www.coindesk.com/googles-director-engineering-wont-invest-bitcoin/

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