Topic: Bitcoin is 'useless as a payment mechanism and ridiculous as a store of value - page 4. (Read 1117 times)
August 18, 2018, 09:06:22 AM
Well immense expenses that paypal charge for cash exchange is one reason why bitcoin develop to be better as installment system. I see the motivation behind why Mr Harris is so against bitcoin in light of the fact that they see bitcoin as an adversary to their business.
August 18, 2018, 08:58:41 AM
I'm not an expert but in my opinion that is just his speculation. I still believe to those reliable sources and giving us positive comments about bitcoin.
August 18, 2018, 08:33:21 AM
in my opinion it is a very wrong statement about bitcoin. in fact the opposite is true with what you say. precisely now more and more countries with strong economies are using bitcoin as a means of payment. it indicates that it is very good and easy to make payments with bitcoin.
August 18, 2018, 07:23:01 AM
Bitcoin is 'useless as a payment mechanism and ridiculous as a store of value,' ex-PayPal CEO says
Away from emotions, his words contain a kind of honesty.Bitcoin in its current form is not appropriate:
- As a payment mechanism for daily transactions "or to everyone."
- Make quick purchases.
- As a Payments to large merchants.
On the other hand, a store of value, high fluctuation in value makes it unsuitable to be a store of value.
Perhaps after the activation of solutions such as lightning network, and control/regulation on the exchange platforms resolved all these restrictions.
August 18, 2018, 05:18:22 AM
I find these people morons and foolish who either called bitcoin a bubble that would burst soon or calling bitcoin useless as a payment method and ridiculous as a store of value and I think these are the people who are completely unaware of fate and potential of bitcoin and the sustainability of the bitcoin, though bitcoin has been not that famous to be use as a payment method very popularly but but as a store value it is the best among all.
i disagree. people who have been calling bitcoin these things are wise because they know the market is greatly affected by FUD like that and they want to have negative effect on the market for different reasons. some see bitcoin as competition and don't want it to grow and some want to buy in at cheaper prices. and although this is a dirty trick but it is wise and effective.
i consider people like OP who quote these people morons because they don't benefit from this type of news but the people they are quoting will!
August 18, 2018, 04:50:13 AM
August 16, 2018, 12:29:29 AM
how much gossip circulating about the destruction of bitcoin must be received and evaluated by ourselves.
maybe people who say bitcoin has no value is just a setting so that the price of bitcoin drops sharply and after reaching the lowest point they just buy in large quantities and seek profit from the increase in bitcoin prices later on, so this might just be a conspiracy.
maybe people who say bitcoin has no value is just a setting so that the price of bitcoin drops sharply and after reaching the lowest point they just buy in large quantities and seek profit from the increase in bitcoin prices later on, so this might just be a conspiracy.
August 15, 2018, 09:36:28 PM
mark my words, in a short time in the future we will see PayPal adopt bitcoin in one way or another. most probably (if they are wise) they will start letting people add bitcoin to their PP wallets and turn it into fiat and vice versa, or (if they are not wise) they will start making PP into an altcoin and fail.
but they will get involved eventually because they are seeing how their business is losing its grounds slowly but surely to bitcoin.
but they will get involved eventually because they are seeing how their business is losing its grounds slowly but surely to bitcoin.
August 15, 2018, 08:45:38 PM
I know one thing; Bitcoin and altcoins have come to stay. We can finally get rid of huge charges and slow transactions as these have been perfected in some crypt currencies already. Try moving a little as $2000 with PayPal and see the ridiculous charges you will incur. Yet about $2m was moved with ripple and the charges was less than $0.01 and it took just 5 seconds. This should tell us a lot. THIS IS THE FUTURE.
August 15, 2018, 08:44:12 PM
If I recall the CEO of PayPal had a different view of this not to long ago. He was praising Bitcoin in the article. Funny how thing's change quickly.. wonder how much Bitcoin he is holding and trying to drive the price down as the other manipulating the market are to buy in dirt cheap as all the weak hands sell off their future fortune. Idiot's
August 15, 2018, 08:41:26 PM
Now, these people at PayPal are now beginning to hate Bitcoin and the exceptional solutions it brings. This is a better option to PayPal and they know it, so they badmouth it to the public so they can keep their loyal customers.
August 15, 2018, 08:27:08 PM
August 15, 2018, 04:35:23 PM
isn't this old news? i do realize that the shitty news sits are posting it now but the news itself (the quote) sounds quite old. i remember that Paypal CEO said this exact same thing a couple of months ago...
in other words it seems to me like news sites are running out of FUD to post during drops and are going back to re-posting the same stuff again
in other words it seems to me like news sites are running out of FUD to post during drops and are going back to re-posting the same stuff again
It's not old, this guy is just talks like a broken record. He used to say that and he's still repeating it nowadays. PRobably is angry because he's now the "former" CEO.
Meanwhile in PayPal:
Wences Casares, CEO of bitcoin wallet Xapo and member of PayPal’s board of directors has made a compelling forecast on bitcoin’s value over the next decade.
The bitcoin entrepreneur and executive was speaking at the Consensus 2017 conference in New York. Taking the stage at a dinner organized by bitcoin and blockchain advocacy group Coin Center, Casares’ speech was quite the hit.
Looks like they can't make up their minds in PayPal, but since the one being negative is the former CEO his opinions don't hold much value.
August 15, 2018, 03:45:26 PM
August 15, 2018, 03:42:00 PM
Bitcoin as a payment mechanism cannot be said to be useless in my own opinion, it just that it has not been legalized as a payment medium and the the scalability issue.
August 15, 2018, 03:34:52 PM
It could be, Mr. Bill Harris issued a statement because he felt bitcoin could be a threat to paypal in the future. Whatever the conditions, I still believe in the future of bitcoin
August 15, 2018, 12:08:36 PM
If cryptocurrencies are ridiculous as a store of value, then why people are rushing to buy them in countries facing inflation and hyperinflation ?
August 15, 2018, 11:15:07 AM
Hard but true to be honest bitcoin is nothing really healthy but we are using it because the volatility and on stability of Bitcoin right now is giving us an earnings that we can have, investing.
August 15, 2018, 04:54:51 AM
They've been doing this thing for years ever since bitcoin rose to prominence. I wouldn't blame them for not really getting into bitcoin since it will affect their business models, though I must admit some of their points are valid and will remain as is until some people actually stand up and start receiving bitcoin-only payments for their enterprise/business. Bitcoin's development as a currency already halted and have been stagnant ever since people started speculating the crypto hard. Nonetheless, it can still be an effective payment method if people will use it as such and businesses will treat it as such.
August 15, 2018, 04:07:42 AM
Harris is a known hater of bitcoin and cryptos. This is not the first time he has spoken against it and certainly not the last time. Many more to come from him. Earlier the community seems to be worried about such comments from big known wealthy names but now they know how to ignore it. It makes zero impact on the community and on the price. CNBC needs controversial news and these jerks are providing it. Nothing of a significance!
That's a classic mistake! Bitcoin is no business so that it will have profitability. Since it's not a business, no question of revenue comes in to the picture either! Useless Stuff!
Quote
he said. "Bitcoin makes no revenue, no profitability."
That's a classic mistake! Bitcoin is no business so that it will have profitability. Since it's not a business, no question of revenue comes in to the picture either! Useless Stuff!
Jump to: