World Leaders on Bitcoin (Part 3)

Published Jul 27, 18

Edward Snowden

Edward Snowden

American computer professional (NSA Whistleblower)

“As a privacy advocate, I would recommend no one say that they have crypto currencies (laughter) but what I can say, when I was working on the sort of great project of my life (NSA blow whistle), figuring out how can I bet this archive of material to journalist. How could I persuade them that this is real?, that this is practical that how can they can see things in a safe way that’s uncontrolled, unseen happens permissionless. There’s a question of do I need server structure of my own, maybe the answer is yes. Okay how do I pay for that anonymously? Maybe…. Maybe… someone like me may have used Bitcoin for that (Applause)

When you look at Bitcoin, what are the central benefits, what are the central flaws? Everyone is focused on the transactions as being the central flaw (speed, costs, and limitations). And that is a major one, but I would argue that a much greater flaw is the public ledger. That is simply incompatible with having an enduring mechanism for trade. Because you cannot have a lifelong history of everyone’s history, everyone’s interaction be available to everyone and have that work out well at scale. The limitations of how people engage with these cryptos are the limiting factors on the apocalypses we’ve had from it so far. I don’t think Bitcoin will last forever but we need to look at all the technology from the past. The first browser ever created is not the best we’ve ever seen. Bitcoin is doing important work and its work will be around for a very long time, but if we look at its core development team and their rate of improvements on the protocol, they will need to do better to keep up. “

Wolf of Wall Street (Jordan Belfort)

Jordan Belfort (Wolf of Wallstreet)

American author ($100 million dollars)

“The problem that I have with the technology, blockchain, is that the technology is great. But the people that are getting involved right now. All these copycat crypto currencies that are going out. It’s unregulated, it’s a dark market. There’s people creating massive dump and pumps and it’s a huge danger.”

Warren Buffet

Warren Buffet

American business magnate, investor (82.2 billion USD (2018) Forbes)

“The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money … But a pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons: First, many in Wall Street – a community in which quality control is not prized – will sell investors anything they will buy. Second, speculation is most dangerous when it looks easiest.” – Warren Buffett, Berkshire Hathaway 2000 shareholder letter

 [Source CNBC]

John McAffee

John Mcafee

Computer programmer (‎$4 Million)

“In the long term Bitcoin moves above $500,000 within three years. Bets?” McAfee tweeted on 17 July 2017. In his reply he added that if it doesn’t: “I will eat my d*ck on national television.”

 “It is not a speculative investment even though it is being used as such by other people. As Bitcoin network grows the value of Bitcoin grows. As people move into Bitcoin for payments and receipts they stop using US Dollars, Euros and Chinese Yuan which in the long-term devalues these currencies.”

 

[Source: RT YouTube]

 

Read PART 2 if you missed it!