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Source: cnbc.com ·
Although Bitcoin has tripled in value this year, billionaire Mark Cuban remains cautious about the cryptocurrency as he has been for years.
Nick Tomaino - @NTmoney
4 weeks ago
Bitcoin is a religion for people on Twitter who have built their identity on it @mcuban
Bitcoin is a utility for people in Lebanon who have seen their currency collapse & can’t withdraw cash from their bank
The former is much more visible but the latter is there if you squint https://t.co/ux57ImluiB
3
28
Pierre Rochard - @pierre_rochard
4 weeks ago
The fiat apocalypse is coming, the kingdom of #Bitcoin is at hand.
Repent @mcuban! https://t.co/uouA4lXgwM
15
143
Helpful_Tajada
3 weeks ago
We cannot expect him to be an expert on everything; maybe he needs to learn more about crypto. The GRT tokens are a great way to start.
1
cryptochecker
3 weeks ago
Of [u/Helpful_Tajada](https://www.reddit.com/u/Helpful_Tajada)'s last **551** posts (**63** submissions + **488** comments), I found **188** in cryptocurrency-related subreddits. This user is most active in these subreddits:
Subreddit|No. of posts|Total karma|Average|[Sentiment](https://nlpforhackers.io/sentiment-analysis-intro/)
:--|:--|:--|:--|:--|:--|:--
r/Bitcoin|5|3|0.6|Neutral|
r/BitcoinBeginners|15|16|1.1|Neutral|
r/BitcoinCA|5|2|0.4|Neutral|
r/btc|29|29|1.0|Neutral|
r/CryptoMarkets|18|14|0.8|Neutral|
r/ethtrader|12|13|1.1|**Positive (+37.3%)**|
r/CryptoCurrency|52|30|0.6|Neutral|
r/defi|8|10|1.2|**Positive (+38.2%)**|
See [here](https://reddit.com/r/cryptochecker/khvmci) for more detailed results, including less active cryptocurrency subreddits.
***
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1
mantiss87
4 weeks ago
Only thing you need for doomsday is lead. You literally dont need money if its the end, take what you need/want.
1
KarmaKaroo
4 weeks ago
This is just false re: doomsday scenario.
If one country or even a continent or two go to shit (governments collapse into anarchy at a large scale) all those people can still have their money be worth something and have it be protected from the physical insecurities of holding cash (it can be stolen from you).
Then when we talk about international travel... refugees today have a huge issue when it comes to transitioning their wealth from their country of origin to wherever they end up... it gets stolen along the way or ultimately seized from them by customs.
Cryptocurrency solves these problems. How does the Venezuelan dollar hold its value if Venezuela collapses into anarchy? It doesn’t.
1
EGarrett
4 weeks ago
You don't need the internet or even power outlets to use Bitcoin. The scenario you'd have to construct where it wasn't useful is one where money in general, including gold, would be of new use also.
It's funny that Mark got rich off of selling a website, but yet, like a lot of older businessmen, seems utterly outside his purview when it comes to BTC.
0
Jolly-Pineapple-4015
Redditor for less than 30 days 4 weeks ago
Ya. Not like this place. No cult for BCH coin, obviously.
0
Brilliant_Wall_9158
Redditor for less than 60 days 4 weeks ago
Bitcoin BCH amen thou bring freedom ad all ex cash
3
bahkins313
4 weeks ago
Do you think he’d support BCH? I don’t see why you’re hopping onboard with someone who is completely anti crypto in general.
0
nomoredamnusernames
4 weeks ago
You are so juvenile. Did you even read the article? His comments apply every bit as much to BCH (and every other crypto that seeks to operate as a means of exchange) as BTC. You could try to dispute or counter his arguments but instead you dishonestly (and predictably) promote this as an attack on BTC that is somehow supportive of BCH.
0
taipalag
4 weeks ago
Well arguably, BCH doesn't pander to the store-of-value nonsense, and at least with the Bitcoin.com wallet is so easy to use that grandma could use it. So I think it is fair to say that it applies more to BTC than BCH.
1
nomoredamnusernames
4 weeks ago
The store of value “nonsense” is literally the only thing Cuban bases the idea the Bitcoin is investable on. His comments (leaving aside whether they are accurate or not) cut right into the heart of BCH, not BTC, because he’s dismissing it as a viable alternative to fiat currency:
“Countries will take steps to protect their currencies and their ability to tax, so the more people believe this is anything more than a store of value, the more risk of government intervention they face.”
Again, I’m not commenting on Cuban’s assessment other than pointing out how shamelessly hypocritical it is to promote the idea that he’s bashing BTC while ignoring that his criticism actually applies equally (or, actually, even more so) to BCH.
Not everyone comes here to read biased choir preaching.
1
taipalag
4 weeks ago
You:
> The store of value “nonsense” is literally the only thing Cuban bases the idea the Bitcoin is investable on.
Wikipedia:
> Insofar as an investment is speculative, it should not be considered a store of value because it lacks stability. An asset should only be considered a store of value if it is stable against future purchasing power.
> At various times throughout history, people and nations have famously made the mistake of believing that they could "store value" in speculative instruments, misunderstanding that ones personal choice to invest in a speculative asset does not automatically convert that asset into a proper and predictable store of value.
> Examples of assets that are not traditionally considered stores of value:
> - Stocks – A share of ownership of a publicly-traded company
> - Cryptocurrencies – digital currencies
https://en.wikipedia.org/wiki/Store_of_value
It is way too early to proclaim that BTC can work as a reliable store-of-value. For example, in March, during the market crash, it dropped 63%, more than the Nasdaq, S&P or the DJI. Gold, a true store-of-value, only dropped 14% if memory serves right. So yes, BTC as a store-of-value is nonsense, Cuban got that one wrong.
You:
> His comments (leaving aside whether they are accurate or not) cut right into the heart of BCH, not BTC, because he’s dismissing it as a viable alternative to fiat currency:
Cuban:
> “Countries will take steps to protect their currencies and their ability to tax, so the more people believe this is anything more than a store of value, the more risk of government intervention they face.”
I'd argue that governments haven't been able over the last 10 years to prevent crypto to be used as a currency and won't be able to either in the future. But, admittedly, this is speculative, but so is the BTC store-of-value narrative.
Let's not forget that Bitcoin is designed to be a crypto*currency*, not a crypto *store-of-value*
Cuban:
> For the investor to change his mind about bitcoin, “it would have to be so easy to use, [like] it’s a no-brainer,” Cuban said on “The Pomp Podcast” in April.
> “It would have to be completely friction-free and understandable by everybody first.” So easy, in fact, that “grandma could do it.”
Sounds a lot like BCH, but not like BTC
0
nomoredamnusernames
4 weeks ago
See, it isn’t actually hard to address the points in the article if your intention is reasonable.
The nits I would pick with what you said are these:
1. Store of value isn’t really a set thing. The term is used to mean different things. Most people would consider real estate and gold to be traditional stores of value, but neither are immune to price drops. So, if the ability to lose money prevents an asset from being a store of value, then most commonly accepted stores of value really aren’t. Obviously BTC is appreciably more volatile than those and other examples, but the argument (whether one agree with it) is that this is a nascent asset with a fraction of its eventual market cap, and once the price discovery phase is complete the volatility will reduce. I do think it’s absurd to characterize there influx of institutional money into BTC as being a flight to a “store of value.” I think it’s clearly something different. It’s a play on a potentially huge level of appreciation and a bet that it will eventually become a SOV. We’ll see.
2. I think it’s premature to write off the risk of government intervention. To date, no crypto has been seen as remotely threatening to a major fiat currency. Should BCH achieve the kind of adoption that will be needed to truly operate as a global currency the perceived threat it poses will be magnitudes higher, and that’s where the risk of government intervention is highest. Again, we’ll see.
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wikipedia_text_bot
Redditor for less than 60 days 4 weeks ago
**[Store of value](https://en.wikipedia.org/wiki/Store of value)**
A store of value is the function of an asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved. More generally, a store of value is anything that retains purchasing power into the future. The most common store of value in modern times has been money, currency, or a commodity like a precious metal or financial capital. The point of any store of value is risk management due to a stable demand for the underlying asset.
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1
1MightBeAPenguin
4 weeks ago
Generally speaking, almost every community is going to be cult-like because humans tend to stick in groups and factions. It's how people are. However, BTC supporters are much more cultist-like in their mentality than BCH supporters or any other community in crypto. Why? Because there's almost little to no intellectual diversity within their group, and they will go through every step possible to ostracize and harass people who disagree with them so their community continues to remain in its little echo chamber.
Everyone who disagrees with Core and voices their disagreement is automatically banned and harassed by the mods being name-called a "shitcoiner" and "scammer" (I would know from my communications with BashCo, who was extremely toxic and condescending towards me for a simple disagreement). Other people who even support another coin - regardless of whether or not they like BTC - [are harassed by BTC supporters on social media to discourage them from simply voicing a different opinion](https://read.cash/@scotty321/full-transcript-jeffrey-tucker-on-bitcoin-bitcoin-cash-monetary-fundamentals-and-human-rights-69530d63). Not only is this well known, but it is also well documented. Specifically, these people are willing to go to such lengths and create [backroom trolling and PR campaigns](https://www.reddit.com/r/btc/comments/63q68x/joseph_poon_to_greg_maxwel_i_was_especially/dfwebqk?utm_source=share&utm_medium=web2x&context=3), or character assassinate other individuals just so they can get their way and "win" through coercion. They certainly believe that the ends justify the means, as both [Rick Falkvinge, and Mike Hearn have pointed out](https://www.reddit.com/r/btc/comments/kcgswl/the_philosophical_origins_of_bitcoins_civil_war/gftgc2c/?context=3).
On top of just the overall harassment of people who don't agree with them, their dialogue is exactly the same to those who disagree with them. If someone points out a criticism of BTC that is valid, their responses don't go towards actually refuting the other individual's point, but they only resort to their lame dialogues of "have fun staying poor", calling the other person a shitcoiner/scammer, saying there is "only Bitcoin and shitcoins", or just blocking the person on social media because they can't deal with their own cognitive dissonance.
1
nomoredamnusernames
4 weeks ago
I agree with most of that, but almost all of it applies to this sub—and most certainly applies to the guy I replied to. Crapping on another sub for “banning” people is incredibly hypocritical for a guy whose entire existence appears to be based on shitting on another coin and running cryptochecker to out anyone who doesn’t tow the party line on BCH.
2
slashfromgunsnroses
4 weeks ago
Hes exploiting that his peers here are not very bright and cant read past the headline.
Its also possible he doesnt have the attention span to read more.
0
Egon_1
Bitcoin Enthusiast 4 weeks ago
You cannot expect everyone to know every coin on this planet. Especially busy people like Mark. Change takes time.
3
bahkins313
4 weeks ago
But BCH is the real bitcoin, so why wouldn’t he know about it? Or is the bitcoin he’s talking about actually BCH since it’s the real bitcoin? Or is BCH not actually bitcoin? Man this is getting confusing
0
Egon_1
Bitcoin Enthusiast 4 weeks ago
You talk like a BTC coin fanboy who has been brainwashed and denies reality.
/u/cryptochecker
EDIT: Yup...
https://archive.vn/dsGk3
6
bahkins313
4 weeks ago
Lolol I knew you were gonna pull out old reliable. How am I a BTC fanboy? Did you even look at the results from your precious bot? It says I have high karma on this sub. I’m banned from r/bitcoin for calling out their bullshit.
0
cryptochecker
4 weeks ago
Of [u/bahkins313](https://www.reddit.com/u/bahkins313)'s last **1224** posts (**225** submissions + **999** comments), I found **132** in cryptocurrency-related subreddits. This user is most active in these subreddits:
Subreddit|No. of posts|Total karma|Average|[Sentiment](https://nlpforhackers.io/sentiment-analysis-intro/)
:--|:--|:--|:--|:--|:--|:--
r/btc|49|1549|31.6|Neutral|
r/Vechain|15|327|21.8|Neutral|
r/CryptoCurrency|61|2061|33.8|Neutral|
See [here](https://reddit.com/r/cryptochecker/kgxvnj) for more detailed results, including less active cryptocurrency subreddits.
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2
Point_Accurate
redditor for 3 months 4 weeks ago
damn, you guys trigger easily.
what Cuban says makes a lot of sense. Governments will try to fight bitcoin with all their might. They will start issuing their own digital currencies to attempt to maintain control. The good news is that it's too late for them to squash it completely.
As it currently stands, I doubt bitcoin will become a global reserve currency, this may yet change of course and people like Cuban and Dalio will change their tune. Schiff is a hack and a shill, so that's a different story.
You ignore the wisdom of people like Cuban and Dalio at your own peril.
0
DrJawn
4 weeks ago
Five Ways to Become a Billionaire
1) Exploit a monopoly
2) Use insider information
3) Buy off politicians
4) Extort big investors
5) Inheritance without charity
1
doobur
4 weeks ago
Would you consider it productive to understand the value systems of others in order to more efficiently fulfill them?
1
doobur
4 weeks ago
Agreed, but you can't be friends with everyone -
I don't think we should diminish the fact that there's a certain satisfaction in knowing the higher order you've created makes for a better world for a perfect stranger.
The value of that efficiency of order we create for strangers seems to be more easily quantified by dollar amounts. A lot of people make money because their expertise is valued by others, total strangers. It makes for a more efficient world - assuming every wealthy person has attained their wealth through nefarious dealings, to me, is very pessimistic.
1
kwaker88
4 weeks ago
"People shouldn't be afraid of its government; government should be afraid of its people" - V for Vendetta
4
gluisgwiz
redditor for 5 weeks 4 weeks ago
He already bought in or is trying to buy to get fooled. Public words have nothing to do with private decisions in these cases. Plus china and the usa are already hodling billions in crypto so....
1
Scimpanz
4 weeks ago
But isn’t government supposed to reflect the will of its people?
Government should do what's best for his people and that sometime is not what the people want. Many if given the choice wouldn't pay taxes for example, or Brexit. I'm not saying Bitcoin is bad, but national currency give the government the possibility to adjust its value depending on the situation.
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Thanatos_1
4 weeks ago
Governments will protect their currencies.
OHHHH!! Apparently all governments prior to 2020 A.D. didn't think of that! Not the German, the Argentine, Zimbabwean, Turkish, Iranian, Lebanese, ... the US (it's not like the USD didn't lose 95% of its value over the last 100 years...)
Thanks Mark! Please collect your consulting fee for saving the government from your local Post office.
3
antlia-by-rns
redditor for 1 week 4 weeks ago
it's not about the crypto rather the ecosystem that matters
what's the point of owning millions worth of BTC when it can't come to your aid on doomsday scenarios. BTC isn't widely accepted and still has a lot of restrictions and red tapes.
2
Thanatos_1
4 weeks ago
You are describing a literal antilogy. Something that can't be true.
If you have "millions worth (assuming of USD) of BTC", that means there are people accepting your BTC for USD. Or else you wouldn't have "millions worth", you would have zero worth, because that's the market price of BTC if nobody wants it in exchange for USD.
Same argument goes for the "red tape"-concern. Apparently the tape isn't red enough, or else you and nobody else would be able to sell, and vice versa, nobody else would be able to buy and again, you can't, as in, it's logically impossible to, own "millions worth" of something, that can't be bought or sold.
2
WarrenMuppet007
redditor for 3 months 4 weeks ago
It's like saying why to build automobiles where there are plenty of horses which can be fed grass anytime, doesn't need a special substance called petrol to work , doesn't need rubberized wheel and special roads to work.
There was a time cars needed 3 operators to operate, with time it changed.
3
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