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The former Israeli prime minister and startup investors have declared their position towards the cryptocurrency at a start-up event in the country.
The year is about to end in less than a month and it seems there will be no celebrations coming from cryptic enthusiasts with what looks like an endless cycle of bears.
And as if the agony of crypto enthusiasts was not enough, they still have to hear the mockery of another famous figure on the cryptocurrency.
The former Israeli prime minister turned to startup investors, Ehud Barak clearly stated his position on the cryptocurrency when he said that Bitcoin and criptos are nothing more than a Ponzi Scheme.
Having been active in the boot space in the country, Barak has not commented on cryptocurrency, until recently in a launch event, in which he was appointed keynote speaker.
He admitted that the blockchain is an interesting and important technological-mathematical concept that has many uses, such as keeping confidential medical information on contracts, as reported by The CCpress.
However, when it comes to cryptocurrency, he said: "The coins – Bitcoin and others – are a Ponzi scheme." He added: "I do not think it will be possible to make a coin like this in the current generation and I will not invest in anything related to cryptocurrencies."
With Barak's status as a public figure, his statements are taken very seriously by many people, particularly those in the country's cryptic community.
Ophir Gertner, the founder of the blockchain consulting firm Smartologic, issued a statement in response to Barak's commentary on crypto that said: "The cryptography market as a whole has become a punching bag. [Barak’s opinions], including the point of view of many companies in Israel, they have become particularly popular in the context of strong fluctuations and currency devaluations recently. "
Apart from the comments of crypto opponents such as Barak, the Israeli government is actually quite favorable towards the cryptic industry in the country.
The startups and communities of Crypto are flourishing in Israel, in fact, Tel Aviv is considered one of the most crypto-friendly cities in the world by Investopedia.
Read more:
The first Israeli cryptic investment fund aims to manage $ 50 million by the end of 2018
Bank of Israel publishes a report on digital currencies
"No fiat no worries" while traveling in these 10 cities
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