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At the 20th annual CAST (China Association of Science and Technology) event, Jack Ma again discussed Bitcoin and blockchain. He said that maybe Bitcoin was a bubble, but the blockchain is a key that opens up a treasure trove of effective technological tools in the financial sector.
Opinion of Chinese Ballers
This was not the first time Ma was talking about Bitcoin. At the beginning of 2017, during a public event, he answered a question from a Bitcoin enthusiast:
"When it comes to Bitcoin, I'm not so interested in myself, what I want to know is, what can Bitcoin bring to society? After a bit of reflection, I think the technology behind Bitcoin is huge so we are using Alibaba and Alipay to help build our roadmap to a truly cashless society. "
Jack Ma
In many of the blue-chip Internet companies. Jack Ma is not the only one who does not think much about Bitcoin. Pencon Ma of Tencent is also a critic, preferring Tencent's internal digital currency – Q Coin, which is a consolidated and reliable form of digital currency. Like its Alibaba counterpart, however, it recognizes the potential and ingenuity of blockchain technology.
In addition to these two, JD's Richard Liu (Liu Qiangdong) was rather straightforward on the topic of Bitcoin – "I've never invested in Bitcoin or other similar products or shares." He says he is rather opposed to these things, preferring to do business in a more traditional and direct way.
It is relatively easy to understand the position of the Chinese ballers, as their activities are strongly linked to the Chinese government. Officials banned all encryption activities at the end of 2017, in order to prevent people from investing in ICO fraud, which became very popular in China during the period of Bitcoin's flying prices.
Opinions of the International Ballers
It's not just the big Chinese players who made Bitcoins' noses. Even some international players have refused to play football with Bitcoin. For example, the great Value Investing champion, Warren Buffet, has warned that digital currencies do not have a good future.
Back when Bitcoin was breaking the $ 100 barrier, Buffet publicly stated that Bitcoin was a rat poison and that people should stay away from it.
In May 2018, during a meeting of the shareholders of Berkshire Hathaway, a Fox News reporter asked Buffet if his opinion on cryptocurrency had changed now that it had risen from breaking the $ 100 barrier to the most astronomical $ 9000 barrier. Buffet answer? "Bitcoin right now is simply rat poison & # 39; squared & # 39;" – Double the danger.
In 2014, the well-known billionaire Bill Gates was interviewed and said that he thought Bitcoin was better than currency, and the reason he stimulated people was how low it could bring transactional costs. In 2015 he proclaimed that people needed the Bitcoin revolution. But years later, his attitude had changed, saying that Bitcoin was no longer a good representative of the cryptocurrency industry. He pointed out that the use of Bitcoin was not like using a credit card where you could always have a name and a user connected to each transaction. The potential for illegal and darker activities was too great.
Last year, Gates said that "If it were possible, I would do a short Bitcoin now."
The story so far sees many titans of technology coming out against Bitcoin, which has contributed a lot to the general feeling of disapproval of the cryptocurrency. Towards the underlying blockchain technology, however, there is much more sentiment.
