Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of finance and cryptography.
World Wide Web Inventor Tim Berners-Lee Says Crypto Is ‘Really Dangerous’ But Could Be Useful For Money Transfers – Featured Bitcoin News
World Wide Web inventor Sir Tim Berners-Lee says cryptocurrency is “really dangerous” and “just speculative.” While he claimed that crypto is for those who “want a kick out of gambling”, he noted that it could be useful for money transfers.
Sir Tim Berners-Lee on Crypto
Sir Tim Berners-Lee, the British computer scientist widely credited with inventing the World Wide Web, shared his thoughts on cryptocurrency on CNBC’s “Beyond the Valley” podcast, published last week.
Berners-Lee called cryptocurrency “dangerous” and compared it to gambling. Claiming that “cryptocurrency can be 100% speculative” and “not tied to anything at all,” he opined:
It is only speculative. It is clear that it is very dangerous.
He claimed that crypto is for “if you want a kick out of gambling, basically.” He also compared cryptocurrency to the dot-com bubble, noting that people valued various internet stocks “because of what they thought others would value them in the future, so in other words it wasn’t based on earnings or anything real so that the bubble came.” He further stressed: “Investing in certain things, which are purely speculative, is not where I want to spend my time.”
However, Berners-Lee said cryptocurrencies could be useful for money transfers. He shared:
After using it for money transfers, it seems to be the most useful if you transfer things to blockchain because you can get it instantly to your family.
The British computer scientist emphasized: “Just don’t keep the currency … get rid of it, put it back in USD.”
What do you think of Tim Berners-Lee’s views on crypto? Let us know in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or an endorsement or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly responsible for damages or losses caused or alleged to be caused by or in connection with the use of or reliance on content, goods or services mentioned in this article.
