Carolina QuotesBitcoin did have great potential, but it is damaged beyond repair. ... Bitcoin was born with serious flaws. ... it has been compared to a Ponzi scheme. ... It's time to admit that the current Bitcoin needs to be scrapped ... bear in mind what it is that makes some venture capitalists Bitcoin zealots: pure greed. That is the reason clearest to me for Bitcoin's failure.
Vivek Wadhwa Connected to the Carolinas
Source
R.I.P., Bitcoin. It's time to move on. in The Washington Post (19 January 2016)
- year
- 2016
Cite this record
“Bitcoin did have great potential, but it is damaged beyond r…” Vivek Wadhwa. Carolina Quotes, record CQ-5DAD00C655. https://carolinaquotes.com/quote/5dad00c655
More from Vivek Wadhwa
With the technology advances that are presently on the horizon, not only low-skilled jobs are at risk; so are the jobs of knowledge workers. Too much is happening too fast. It will shake up entire industries and eliminate professions. Some new jobs will surely be created, but they will be few. And we won’t be able to retrain the people who lose their jobs, because, as I said to Andreessen, you can train an Andreessen to drive a cab, but you can’t retrain a laid-off cab driver to become an Andreessen. The jobs that will be created will require very specialized skills and higher levels of education — which most people don’t have.
[BitCoin]'s the greatest scam of modern times. ... the poor, the average mom-and-pop, the truck driver and the barber, who put their life savings into this, are going to lose their money, and be told to keep holding on, trust us, the value will go up. And they're gonna go bankrupt. They're gonna lose their life savings. ... This is what happened with the dot-com boom, the grandma and grandpa lost their life savings. History is repeating itself. ... We have these scamsters, basically, hyping the heck out of it, while all it's being used for is illegal money laundering. ... It's simply gonna implode before you know it. And regular people who trust you are gonna lose their shirts. ... Would you put your life savings into digital currency? You lose a password and you've lost everything. ... They know it's gonna crash and burn. ... it crashes and it goes to zero, and people lose their life savings. Don't do it. Get out of it, rather than losing everything you have. Yes, the price might increase, but more likely than not it's gonna be zero before you know it.
By picking this particular fight [with the FBI], Apple is doing the technology industry a big disservice. ... Apple will very likely lose this case in the courts and suffer a public relations disaster.