The worst mistake these so called experts are making is to compare Bitcoin with Internet bubble and stock bubble. The thing they don't understand is that Bitcoin is not at all comparable to them, along with being an investment asset, bitcoin is a currency as well. It is decentralized. It might not have much utility as for now. But there will be an increase in utility in future. Bitcoin is a completely different kind of monetary system and talking about its potential. I would say by looking at market it is disrupting, it has long to go.
Topic: [2017-10-10] Investing in Bitcoin is Like Betting on Internet Companies in 90s (Read 710 times)
October 09, 2017, 10:23:17 PM
October 09, 2017, 08:15:08 PM
Once again, a statement from former Goldman Sachs.
Indeed, I don't buy words from a retired bankers whose expertise to deceive the people.
Banksters always doubting bitcoin in the future and tend to spread FUDs news about bitcoin which has been proven overcome all the obstacles during its journey. Bitcoin still in the early of development and could reach $5000, what will happen in 5 or 10 years later? No one knows, but according to current growth and bitcoin demand across the world, it seems bitcoin price will continue to increase and once again beat all of those people who doubt it.
Indeed, I don't buy words from a retired bankers whose expertise to deceive the people.
Banksters always doubting bitcoin in the future and tend to spread FUDs news about bitcoin which has been proven overcome all the obstacles during its journey. Bitcoin still in the early of development and could reach $5000, what will happen in 5 or 10 years later? No one knows, but according to current growth and bitcoin demand across the world, it seems bitcoin price will continue to increase and once again beat all of those people who doubt it.
October 09, 2017, 07:20:08 PM
The title alone says everything. Matthew Goetz did not read Satoshi's whitepaper and it is clear that he does not know what he is talking about.
It would have been better for him not to talk about something that is beyond his expertise. I am not saying I am an expert myself, but the people who can comment what is good or bad about bitcoin are the very people who have a background in cryptography. Not retired bankers who's expertise is scamming the people.
Former Goldman Sachs vice president Matthew Goetz believes that investing in bitcoin is comparable to investing in internet companies in the early 1990s: it’s clear this technology is disruptive, but it’s impossible to know whether bitcoin will be usurped by another cryptocurrency down the road — perhaps one that hasn’t even been invented yet.
Goetz, who co-founded cryptocurrency investment firm BlockTower Capital earlier this year, compares the current state of cryptocurrency to the development of the internet during the early 1990s. Even at that early date, select forward-thinking investors rightly forecasted that the internet would usher in a digital revolution, but virtually no one could have identified the specific investments that would benefit most from this technology.
Read in full https://www.cryptocoinsnews.com/investing-bitcoin-like-betting-internet-companies-90s-says-fmr-goldman-sachs-vp/
It would have been better for him not to talk about something that is beyond his expertise. I am not saying I am an expert myself, but the people who can comment what is good or bad about bitcoin are the very people who have a background in cryptography. Not retired bankers who's expertise is scamming the people.
Former Goldman Sachs vice president Matthew Goetz believes that investing in bitcoin is comparable to investing in internet companies in the early 1990s: it’s clear this technology is disruptive, but it’s impossible to know whether bitcoin will be usurped by another cryptocurrency down the road — perhaps one that hasn’t even been invented yet.
Goetz, who co-founded cryptocurrency investment firm BlockTower Capital earlier this year, compares the current state of cryptocurrency to the development of the internet during the early 1990s. Even at that early date, select forward-thinking investors rightly forecasted that the internet would usher in a digital revolution, but virtually no one could have identified the specific investments that would benefit most from this technology.
Read in full https://www.cryptocoinsnews.com/investing-bitcoin-like-betting-internet-companies-90s-says-fmr-goldman-sachs-vp/
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