Mark Cuban is an American entrepreneur and investor who recently attracted a fresh wave of ire coming from the Bitcoin adherent. Mr.Cuban is known as the crypto critic who shared a series of tweets regarding Bitcoin, the world’s largest cryptocurrency.
He reportedly appeared in the anti-Bitcoin clip in October this year which led crypto proponent yelling him as “Crypto critic”. However, in his series of tweets on December 27, Cuban claims ‘he is not against BTC’. He compares BTC bandwagon on Twitter with the Yahoo Finance boards of the 2000s’ and continued;
The BTC bandwagon on twitter is IDENTICAL to the Yahoo Finance boards of the 2000s where stock partisans would try to convey how right they were about their favorite stock and how wrong everyone else was for any number of technical or other reasons.
He further added that Bitcoin is a legit store of value and backs his fact by adding, this is due to the reason that “enough buyers think it is as legit store of value”. However, he also mentioned that the statement doesn’t represent Bitcoin as a solution to the issues prevailing and went on to say;
It doesn’t mean its impossible for it to be a legit fiat alternative, but its far from inevitable.
While Bitcoin proponent criticized Cuban’s views, there was one high crypto profile who supported Cuban. According to Bitcoin Jesus, Roger Ver, Cuban was right and he further suggested that crypto community to listen to real business people like Cuban. He took to Twitter and noted;
Cryptocurrency needs to be so simple that everyone can easily use it to solve real problems.
Moreover, Cuban’s view is that the price predictions made on Twitter so far have failed. In a continuous statement, he mentioned “Twitter is not your friend” to believe and added, “it’s just an echo chamber that makes it all look far more complicated than it is”.
Cuban isn’t only the notable investor who isn’t fond of Bitcoin, CEO of Berkshire Hathaway, Warren Buffett has also been on a path of criticizing bitcoin and cryptocurrency. As for Cuban, he believes that only few advanced users with solid knowledge know how they can avoid government tactics while the “vast majority of BTC is and will remain susceptible”.
As a way to rectify Cuban, CEO of Civic Key, Vinny Lingham said: “tense needs adjusting”. He denies Cuban’s view of looking at the issue that lacks Bitcoin becoming mainstream and stated;
The mainstream has already been scared away…. however, Bitcoin can remain a niche, sub-scale “store of value” for years to come, but it remains to be seen if that narrative goes back into the mainstream.
Image Source: Flickr / Gage Skidmore