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2020-11-25

The Beginning of Bitcoin opinion 2.0

The Beginning of Bitcoin opinion 2.0

There is something in Bitcoin that stirs strong emotions among people. Reformists love it, agitators adore it, “code rebels” crave for it! But, just like a two-faced coin, not all sentiments for Bitcoin are positive. Politicians doubt it, Bankers fear it, environmentalists grudge it, and there are people who hate Bitcoin with passion! Since its inception, investors are looking at the first cryptocurrency platform with hopeful eyes. A platform that will bring a new level of trust and control over their hard-earned money. Known for redefining and reshaping the financial system, Bitcoin has divided the market between ‘conductors’ and ‘resistors’ of the Blockchain technology.  We can clearly observe that there was a large count of well-known names who used to be the “resistor” of this digital currency. But now has realized its true potential. It is great to see that these personalities are now open about their second opinion, which we see as – Bitcoin opinion version 2.0   Bitcoin 2.0  Let us see who are the people who fall into the category of opinion on Bitcoin 2.0. These are the names who first were against bitcoin but now the wind of Bitcoin adoption has changed their mindset from a big NO-NO to CAN BE.   Jay Clayton, Chairman of U.S. SEC Within the last 12 years, the investors’ market had changed tremendously in favor of Bitcoin. So does it affect the opinion of the Security and Exchange Commission (SEC) Chair Jay Clayton.  In earlier days, he stated that since BTC “trade largely on the unregulated market, how can the SEC be sure about the manipulating BTC value?” who now admitted the fact: “Current CeFi mode of payment is in-efficient and is giving ground to Bitcoin for the rise.” Clearly, the time has compelled the chairman to change his mindset. The dominance of a central authority is never encouraged by investors. Also, these are accompanying various inefficiencies like peer to peer trading platforms, decentralized ways, and untold cost-savings.  Warren Buffett, CEO Berkshire Hathaway The ‘Oracle of Omaha’ has always been on the list of long-time critics of the crypto world. He called the world’s most famous digital coin a “rat poisoned square”. And went to the extent of saying in an interview with CNBC:   “I don’t own any cryptocurrency and I never will”  In 2019, in an attempt to change Buffett’s mind, Justin Sun had a conversation for approximately 3.5 hours long at dinner. But neither Sun nor Buffett changes their stand on it.  Echo says that the Oracle of Obama might change his mind on Bitcoin this year. He might become an indirect investor of Bitcoin through PayPal.  Joe Weisenthal, former executive editor of Business Insider  Author of the article “Bitcoin is a joke,” Joe Weisenthal in 2013 states that Bitcoin has no “intrinsic value” of the US dollar. He went to the extent of saying that BTC was hopeless as it has no aggressive military to make others use it.  Later he entitled a post saying “I’m changing my mind on Bitcoin” stating that “It’s wrong to say that Bitcoin has no value. There’s prima facie evidence that this is untrue.” He explained that his book after the Bitcoin price raise – “Bitcoin is a joke” raised both kinds of sentiments in the public. And as the BTC crossed $300 and reached $1000 to $1200 at one point, there is always danger in changing the mindset.  Don Tapscott, author, and founder of the Tapscott Group Don never condemned the cryptocurrency publicly but now has admitted that blockchain technology is the core part of the next generation of the internet. He states: “I used to think Bitcoin would never fly. Now I think it’s not only going to fly as a currency, but the underlying blockchain technology will be part—a core part—of the next generation of the Internet.” It’s going to radically transform not just commerce. . . but many of our institutions in society. Tapscott is now the co-founder of Blockchain Research Institute established in 2017. He believes that digital currencies are bringing a revolution in the market. The influential business thinker feels that what is essential is the shift in how we assign the ownership of data assets. And how we protect the identity in the digital world.  Peter Schiff, Stockbroker, Radio personality Peter David Schiff, compared Bitcoin with a bubble and laughed at the comparison of BTC with gold. He said, “I don’t see Bitcoin as an alternative to gold. If anything, the modern-day alchemists [ creators of Bitcoin ], but you can’t make gold digitally.” Later in 2020, he admitted that he was wrong on BTC. though bitcoin does not correlate with gold highly at the moment but is all set to become a digital gold in 2020.   Bitcoin Haters with Passion Still, some uncertain … Continued

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