The former head of PayPal called bitcoin “worthless worship”


Former PayPal CEO bill Harris sternly spoke about the first kryptonite industry and digital currencies in General.

The businessman said in an interview with American television that Bitcoin is a “cult” that “moves right to zero.”

“I don’t think it’s a complete zero, I said he will be in the end is much closer to zero, because there is no value at all. You can summarize its development. The cult of bitcoin has made lots of statements he allegedly instantaneous, scalable, efficient, secure and universally recognized. Nothing of the sort!”, — said Harris.

The businessman agrees that promptly to do international transfers — it’s pretty time-consuming task. He is convinced that “the world needs a faster network, not Bitcoin or Ripple to move money.”

Asked to clarify why BTC doesn’t make sense to use former PayPal Director said that “we have just a digital currency, and digital currencies that are more stable, widely accepted and have intrinsic value”.

“I see absolutely no reason than bitcoin could be useful. I mean, this volatility makes the coin useless, and the mechanism of payment is ridiculous,” said Harris.

Previously, he was of the opinion that bitcoin has no “fair” value. According to Harris, the first volatility of cryptocurrencies makes it possible to use it as a store of money, and actual means of payment because of the high commissions per transaction.

In an interview with Recode, he said that bitcoin is a fraudulent currency, and its creators make “millions of dollars”. The cost of cryptomonad, according to him, increases, according to the scheme “pump and dump”, too gullible buyers find themselves in a “spiral of greed”.

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