By The National
Forbes columnist Jason Bloomberg recently made a bold and sweeping statement on this point: ” … the
only reason Bitcoin has value to anyone is because of the underlying value as a medium of exchange for lawbreakers. If we could flip a switch and eliminate all illegal uses of Bitcoin, there would be nothing left of the cybercurrency.”
He is not the only one sceptical about Bitcoin. The world’s greatest investor, Warren Buffett was recently quoted as saying: “Stay away. Bitcoin is a mirage. It’s a method of transmitting money … The idea this it has some huge intrinsic value is a joke in my view.”
The main problem with cryptocurrencies are they aren’t tangible – they aren’t businesses, bonds or property – this means they don’t create cash.
Read the entire article at https://www.thenational.ae/business/money/is-there-a-bitcoin-atm-in-dubai-s-media-city-1.615673
