Tech billionaire and Shark Tank personality Mark Cuban warned this weekend in a new video from Wired of all people investing in cryptocurrencies and above all in Bitcoin.
Billionaire billionaire Mark Beans as Bitcoin (BTC) )
Mark Cuban says he thinks cryptocurrencies are far too complicated for the mainstream and brings with it risks associated with digital asset retention. It equates crypto holders with people who invest in gold.
“Cryptography is a key that is too complicated for 99 percent of the population. Do you plug them into a device? Do you print them out? Who keeps you from getting hacked? Who will they host for you? It's just so difficult that it is only worth it if someone was paid for it.
So tell me, they are like gold. Gold is a religion. People who really stand for gold were told that if there is a bad depression and things are going to hell, then if you own gold, you will be able to get everything back in order. No, it's not. You get a gold bar here, someone gets in the ass, switch it off and steal the gold bars. And it will pass again and again and again and again and again. "
Cuban says he would rather have bananas as a cryptocurrency or gold, though he is a supporter of blockchain technology.
" I'd rather have the banana. I can eat bananas. Cryptography, not so much. I can provide a good argument for blockchain. It gives many uses and they are used. But you do not need any public Bitcoin. You can create the blockchain yourself, without using any available cryptocurrencies. It's not that I have any cryptocurrencies. You just have to be very careful. Certainly they are a value memory. "
Source data: CCN
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