This article is probably true but this is just typical clickbait from CNBC.
The author begins by saying
> Admittedly I'm green with envy for failing to foresee the explosive rally in the price of bitcoin when it was first brought to my attention several years ago.
That should be enough to stop reading right there.
I don’t know how articles like this make it to the top of hacker news.
Just because Warren Buffet doesn’t think crypto currencies don’t have a future doesn’t mean they don’t. He also still uses a flip phone, and didn’t invest in tech stocks at all until recently. He admitted to not understanding crypto currencies at all.
Also the dollar as reserve currency is the weakest argument I can think of as to why Bitcoin can’t be a global currency. I personally trade crypto from time to time, and I care much much more about the Bitcoin (satoshi) value of my portfolio than the dollar value. In the crypto world, Bitcoin IS the reserve currency. Most other tokens trade vs. it. It’s not that insane to imagine a world where people’s net worth are expressed as a number of Bitcoin. Do I think that is likely? No, but it is certainly a possibility.
Just because CNBC and other mainstream media outlets use dollars to explain net worth “Winklevoss twins are first Bitcoin billionaires” that has less to do with Bitcoin as a currency and much more to do with explaining things in a way that is easy for regular people to understand.
This. Exactly this. I’ve been an investor in BTC and trading crypto on multiple exchanges for years. BTC is -the- reserve currency of crypto. It is the currency all other crypto is denominated in. BTC will exist long after many of the anchors and writers on CNBC have retired.
The author begins by saying
> Admittedly I'm green with envy for failing to foresee the explosive rally in the price of bitcoin when it was first brought to my attention several years ago.
That should be enough to stop reading right there.
I don’t know how articles like this make it to the top of hacker news.
Just because Warren Buffet doesn’t think crypto currencies don’t have a future doesn’t mean they don’t. He also still uses a flip phone, and didn’t invest in tech stocks at all until recently. He admitted to not understanding crypto currencies at all.
Also the dollar as reserve currency is the weakest argument I can think of as to why Bitcoin can’t be a global currency. I personally trade crypto from time to time, and I care much much more about the Bitcoin (satoshi) value of my portfolio than the dollar value. In the crypto world, Bitcoin IS the reserve currency. Most other tokens trade vs. it. It’s not that insane to imagine a world where people’s net worth are expressed as a number of Bitcoin. Do I think that is likely? No, but it is certainly a possibility.
Just because CNBC and other mainstream media outlets use dollars to explain net worth “Winklevoss twins are first Bitcoin billionaires” that has less to do with Bitcoin as a currency and much more to do with explaining things in a way that is easy for regular people to understand.