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World Wide Web inventor Tim Berners-Lee says crypto is ‘really dangerous’ but can be useful for remittances – Featured

World Wide Web inventor Sir Tim Berners-Lee says, cryptocurrency was “really dangerous” and “only speculative”. While claiming that crypto is for those who “want to get a kick out of gambling,” he noted that it could be useful for remittances.

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 cryptocurrencies on the CNBC podcast Beyond the Valley, which aired last week.

Berners-Lee called cryptocurrency “dangerous” and compared it to gambling. Claiming that “cryptocurrency can be 100% speculative” and “isn’t tied to anything at all,” he opined:

It’s only speculative. This is of course very dangerous.

He claimed that crypto is for “basically if you want to enjoy gambling”. He also compared cryptocurrency to the dot-com bubble, noting that people rated different internet stocks “because they imagined that other people would rate them in the future, in other words, it wasn’t based on revenue or anything real.” Bubble came.” He further emphasized: “Investing in certain things, which is purely speculative, is not what I want to spend my time on.”

However, Berners-Lee said that cryptocurrencies could be useful for remittances. He shared:

After using it for transfers, that seems to be the most useful thing when putting things into the Blockchain transferred because you can bring them to your family immediately.

The British computer scientist stressed: “Just don’t keep the currency… get rid of it, put it back in USD.”

What do you think of Tim Berners-Lee’s take on crypto? Let us know in the comment section below.

World Wide Web inventor Tim Berners-Lee says crypto is ‘really dangerous’ but can be useful for remittances – Featured, Crypto Trading News

Kevin Helms

As a student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economics and cryptography.

photo credit: Shutterstock, Pixabay, WikiCommons

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Source: Crypto News Deutsch

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