Not everybody loves bitcoin. Skeptics will always find a way to opine that Bitcoin has no future. Take a look at the skeptics of the past and see what they had said. 1876: “The telephone has too many shortcomings to be seriously considered a means of communication.” — William Orton, president of Western Union. 1995: “I predict the internet will soon go spectacularly supernova and in 1996, will catastrophically collapse.” — Robert Metcalfe, founder of 3Com. 2007: “There’s no chance that the iPhone is going to get any significant market share.” — Steve Ballmer, Microsoft CEO. Source: ccn.com
Compared to Stocks and Bonds The investment case for cryptocurrencies is weak. Unlike stocks and bonds, currencies generate no cash flows such as interest payments or dividends that can explain their prices. National currencies derive their prices from the underlying economic activity of the countries that issue them. Cryptocurrency prices, on the other hand, are generally not based on economic fundamentals. To date, their prices have depended more on speculation about their eventual adoption and use. ~ Joe Davis, Vanguard economist via ccn.com