In a recent appearance in Anthony Pompliano’s The Pomp Podcast, billionaire and NBA Mark Mavericks owner Mark Cuban discussed his doubts with Bitcoin (BTC).
Despite the argument that bitcoin is hampered by poor public understanding and poor fungibility for products without fiduciary conversion, Cuban offers Bitcoin to be successful when economic crises accelerate and “everything is ruined”.
Mark Cuban is bearish towards BTC until his grandmother can use it
When asked what was needed to change his position of skepticism about Bitcoin, the Cuban said, “It should be so easy to use that it becomes obvious.”.
“At first it should be completely smooth and understandable for everyoneand then you can say that it’s an alternative to gold as a store of value, “he added.
“You have to do it smoothly so Grandma can and add” that we argue a lot about it and you have so many opinions about Bitcoin that it only proves the point that is difficult. “”
Bananas are easier to pay than Bitcoin
Cubans argued that bitcoin is a cumbersome medium of exchange because it has no fungibility for goods and services without becoming fiat currencies.
“At the moment, you still have to convert it for what you want,” he said, adding, “As long as you need to convert it, you still need Fiat no matter what you say.”
“I can trade bananas as a commodity more easily than trading bitcoin, and I can still eat this banana before it is damaged and get all my potassium for my workout.”
Cuban reports on briefly securing Bitcoin payments in the Mavericks online store four years agoand said that “nobody bought anything”.
After reintroducing support for buying items and tickets at BTC in August 2019 Cuban estimates that the payment method generated USD 130 dollarsand added, “That’s all bitcoin that I have right now.”
Mark Cuban: Bitcoin can benefit if “everything is OK”
Although Cubans recognize that blockchain can offer great opportunities“We really haven’t seen blockchain applications really stand out.” I get all the arguments, I saw all the charts, I understand all possible problems with Fiat “, he confirms and adds:
“It is beneficial for Bitcoin’s potential benefit if everything goes bankrupt because we print a lot of money and there are global ramifications.” […] And if not, Bitcoin has nothing. “
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