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Peter Schiff told CoinDesk:
“There’s certainly a lot of bullishness about bitcoin and cryptocurrency, and that’s the case with bubbles in general. The psychology of bubbles fuels it. You just become more convinced that it’s going to work. And the higher the price goes, the more convinced you become that you’re right. But it’s not going up because it’s going to work. It’s going up because of speculation.”
Peter Schiff further said:
“The main benefit of bitcoin – the only segment of society where it’s used for something other than speculation – is crime.”
Many people perceive his words to be indicating a real problem with Bitcoin and cryptocurrency in general, but does Peter Schiff’s own actions and busines practices prove that he actually believes in Bitcoin?
Original Article: https://www.coindesk.com/bitcoin-bear-peter-schiff-doubles-even-4000-still-bubble/
Music Credit:
“Relaxing Piano Music” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0 License
http://creativecommons.org/licenses/by/3.0/
