Topic: Mark Cuban doesn't believe in bitcoin but wants to invest the competitor (Read 4691 times)

maybe he dont know Litecoin     

correct, i fucked up

November 13, 2012,

haha Shark Tank guy! Granted I had no idea who he was until I watched the show.

says the guy who signed up last week

Cuban is right.....BTC may be number 1 right now but in the future an "alt" coin will take the throne.
to much controversy and problems associated with btc plus all the lost coins over the years
btc is merely IMHO a stepping stone to whats next

Who?

i think he just might be upset that he was so late to the game... or at least he is not someone who really states logic for his reasoning very well.

Kevin O'Leary from Shark Tank said he invests 5% of his wealth into physical gold.

Perhaps he will chose Goldcoin when/if he decides to jump in! 

From his short tweet, it also seems he is simply looking at Bitcoin as a technology which is not the case anymore, even more so now.
Twitter's and iPhones don't have senate hearings and banking commission panels.

true but people can still be holding out for the new tcp/ip, http etc. it's a risk regardless

Because he's not talking about Bitcoin specifically. He's talking about not investing his money in the first version of a brand-new technology. Therefore he probably has no comment on Bitcoin itself. He's just passing on it because first versions of major paradigm changes often are inferior to second versions.

He didn't say he's going for an existing competitor.  He said he's going for what will be invented next, in response to Bitcoin, whatever that may be, because the implication is that it will be superior.

Great video. I hope he really did put a couple percent at that time! He'd already multiply his investment quite a bit.

http://www.cbc.ca/player/News/Business/ID/2375415659/

he understands it, he really does! good for him. he's smart too

Really? As a Canadian I should know this.

kevin already said he's in

Honestly he's probably afraid to since he just got the SEC off his back. That's my opinion.

I'd like to hear the other sharks opinions before making a decision 

well atleast he is seeing the benefits of crypto VS:
metals
Fiat
commodities

so he is one step closer to seeing the future, once he realises and does more research..... well, id say he will bite into bitcoin. most of the other protocols are the same, the main differences are the businesses and services that are built ontop of it. EG until there are litecoin versions of bitpay and other 'shopping cart' facilities for businesses to utilise without much effort. then bitcoin will remain the main coin. so far the other coins are months/years away from being what bitcoin is today so he is just wasting time waiting out for something better. he might aswell jump onboard the bitcoin train, and later if something better arrives, he can always swap.

much like gold collectors now moving into platinum.
much like dollar rich convert wealth into euro in swiss accounts
much like farmers converting their land assets into real estate.

all that is required is for the main dev team to not change the main protocol to make it harder for people to transact. EG luke Jr implementing block entry limits on the mining protocol of bitcoin purely for the selfish gain of miners.

bitcoin needs to remain out of the realm of law, politics or personal wealth, to not be controlled by any government to keep peoples individual freedoms alive. but ofcourse the businesses that lay ontop of bitcoin that are registered in different countries, allow them to adhere to their countries rule.

thats why i worry more about protocol changes, but not so much about business advisors with database services to blacklist businesses. because business advisors are not the core of bitcoin. they are entities that can be ignored.

this is why sometimes sticking with the original core concept is better then waiting for future releases, take windows for instance. everyone loved windows 98, but since the more 'glamorous' re-inventions have come about, more and more people are going back to basics. such as android, linux, etc.

so lets hope the bitcoin dev team stick mainly with bug fixes and efficiency. and not 'features'.
'features' such as consumer protection should be done by businesses layed ontp of bitcoin, and not part of the protocol. this allows individuals the freedoms to transact how they like or voluntarily use services for protection.
EG
risk the volitility of the price of 10 minutes when accepting bitcoin direct before swapping for fiat, whilst the customer plays around with their computer/phones trying to send payment. or utilise a service like bitpay which protects businesses/consumers 'valuation' for that period.
but never have a protocol change that magically increases the number of bitcoins to compensate any losses due to delay.

I was just trying to envision what he would say if the Winklevoss twins or someone came into the Sharktank and asked him for an investment. I have no idea what he would really say.   Call it intelligence or luck, he`s done something right for sure.

Ripple probably