Former PayPal CEO Brands Bitcoin a ‘Cult’, Trash Use Cases
Former PayPal CEO Brands Bitcoin a ‘Cult’, Trash Use Cases


If Bitcoin believers and enthusiasts are believed in Bill Harris, be careful not to be a cult member.

Speaking on CNBC’s Fast Money program, the former CEO of PayPal’s payment services company, claimed that the default benefits of BitCoin are not available.

Harris said, “Bitcoin cult has many assertions – instant, free, scalable, efficient, safe, globally accepted and useful – none of these things.”

CNBC’s Fast Money

@cnbcfastmoney
#Bitcoin bull watch out. Former PayPal CEO Bill Harris is calling a cult to #Krypto and says he’s heading straight ahead.
2:54 PM – August 14, 2018
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According to Personal Capital Corporation, founder of the digital asset management company, there are already digital currencies that function better than bitcoin and other crypto currencies.

“There are digital currencies. And there are digital currency units that are more stable, more widely accepted and internal value. We already bought it – it’s called the dollar, yen, put your name, “said Harris.

Bitcoin Bear
In addition, Harris said that for the bitumen, the flagship would be “not much value” because the price of CryptoCurrency would be much higher than zero there.

More specifically, Harris decides that there are still problems BitCoin is trying to solve, especially in making cross-border money transfers because it is slow and expensive. But the solution per Harris is not crypto money, but it networks faster.

Regarding volatility, where the largest crypto-parasite of market capitalization is associated, Harris said that this fact is a payment mechanism and can not be left alone as “it is ridiculous as a value repository”.

Do not Wait To Repeat Yourself
When some tech firms such as Harris were experiencing a serious decline in their stocks, considering the current state of cryptographic money and comparisons of the early days of the Internet, Harris simply forced his future values ​​to recover and exceed their values. a repeat of the crypto.

“There are a lot of things that can dramatically increase things. This does not mean that everything will rise strikingly in terms of value. It must be something that supports it. Bitcoin does not generate income, it does not create profitability. ” Harris said he did not reveal a use case for bitcoin except for criminal activities.

Consistent Bitcoin Basher
Harris has always been skeptical of the pioneering CryptoCurrency, despite the fact that this time it’s one step further and the worst possible insults for an epic centennial champion like bitcoin by saying a cult. As previously reported by CCN, former PayPal president honcho branded BitCoin, the biggest deception in history, with a piece of thought published in a technology publication four months ago.

At the time, Harris said BitCoin was a huge pump and dump plot. Harris’s views on bitcoin are in stark contrast to other PayPal alumni, such as billionaire investor Peter Thiel who sees crypto currencies as having a “great potential”.

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