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Topic: Don't invest in bitcoin; invest in services! - page 2. (Read 2550 times)

member
Activity: 112
Merit: 10
December 26, 2013, 09:47:46 PM
#4
The core problem is that fast growing tech start ups tend to have all of their value stripped out before they IPO. Just look at Twitter, Facebook etc.   which makes coins exciting because there is a chance to beat Wall Street at its own game.

Agreed. Everyday investors don't have a shot at investing in a company like bitpay, either...
hero member
Activity: 658
Merit: 500
Small Red and Bad
December 26, 2013, 09:38:14 PM
#3
He even has a good name for a businessman. I guess Li was Ka-shing out a lot  Cheesy
legendary
Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
December 26, 2013, 09:26:31 PM
#2
The core problem is that fast growing tech start ups tend to have all of their value stripped out before they IPO. Just look at Twitter, Facebook etc.   which makes coins exciting because there is a chance to beat Wall Street at its own game.
member
Activity: 112
Merit: 10
December 26, 2013, 09:00:37 PM
#1
Apparently, the richest man in Asia, Li Ka-shing, is invested in bitpay. So now, we get an article saying that means you shouldn't invest in bitcoin, but rather you should invest in bitcoin services: http://www.scmp.com/business/banking-finance/article/1390224/bitcoin-service-firms-best-investment-not-virtual-currency

The chief economist at Invesco John Greenwood is saying investing in bitcoin doesn't make sense because it doesn't satisfy three requirements for currencies: "be an effective medium of exchange for a wide range of goods and services; be a long-term store of value or be used for the settlement of long-term contracts; or be a universal unit of account."

If Greenwood really believes bitcoin's doomed, I don't think he's be advising people to invest in bitcoin services...
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