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An American businessman and investor.

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Mark Cuban Remains Semi-Hostile Toward Bitcoin in 2019

The Bitcoin industry is appealing to a lot of people. Others dislike this currency from day one and don’t shy away from expressing their opinion. Mark Cuban is one of the individuals who doesn’t see much merit in Bitcoin. In fact, he considered bananas to be more useful now or at any time in the future. A rather interesting opinion, but to each their own. Mark Cuban and Bitcoin It is evident that the financial moguls of this world want absolutely no threat to their position in the industry today. Cryptocurrencies, although still widely considered to be a niche market, can pose genuine problems to the financial hierarchy as people know it today. It is that “fear” which can often lead to people openly being hostile to a form of money that could upset the current balance of power. Cryptocurrencies are not the first innovation to be met with this type of scrutiny. In the case of Mark Cuban, there has always been friction between himself and Bitcoin. The notorious Shark Tank investor has never shied away from claiming how useless Bitcoin is. Everyone in this world is entitled to their own opinion. Those individuals are not necessarily wrong either, although some Bitcoin maximalists will have a different opinion regarding this matter.  The Banana Comment In a Youtube Q&A session dating back about a week ago, Mark Cuban made his hostile stance toward Bitcoin very clear once again. A viewer asked why he dislikes cryptocurrency so much, to which he cited the lack of intrinsic value. That goes for other popular collectibles such as comic books and artwork as well. It is a very strong, albeit somewhat understandable outlook on all of these types of potential investments, as not every offering appeals to everyone. He also commented on how bananas are far more useful than bitcoin, simply because they can be eaten at any given moment. To top it all off, Cuban hints at how complicated the use of cryptocurrency has become. It is not all that difficult to understand, albeit some efforts are needed to make this industry more approachable. To date, very few of such efforts have been launched.  Does it Even Matter? The cryptocurrency community often likes to harp on comments issued by Mark Cuban and others for being “ignorant”. At the same time, their comments make some degree of sense, primarily to those who never invested in Bitcoin or other currencies. Cryptocurrencies are not designed to be for everyone, although that situation may change if they ever become widespread. At this rate, it seems very unlikely that such a trend will occur in the years to come.  Image(s): Shutterstock.com The post Mark Cuban Remains Semi-Hostile Toward Bitcoin in 2019 appeared first on NullTX.
NullTX

Here’s What Mark Cuban Would Have Made If He Picked Apple Instead of AmazonHere's What Mark Cuban Would Have Made If He Picked Apple Instead of Amazon – CCN.com

Mark Cuban, the billionaire owner of NBA team Dallas Mavericks, has revealed that his biggest stock investment is in online retail giant Amazon. Speaking to the Fox Business Network, the Shark Tank star disclosed that the Amazon stake is worth nearly a billion dollars. Meanwhile, his stake in the other major FAANG stock, Apple, is […] The post Here’s What Mark Cuban Would Have Made If He Picked Apple Instead of Amazon appeared first on CCN.com Billionaire Mark Cuban has missed out on substantial gains by continuing to hold Amazon stock while eschewing Apple stock.
CCN

Mark Cuban bullish on blockchain, but would take bananas over bitcoin

In a Q&A video segment with WIRED magazine, Dallas Mavericks owner and billionaire investor Mark Cuban answered a question regarding the opportunity for cryptocurrencies and ICOs.  Cuban started off saying that crypto, particularly Bitcoin is only "worth what somebody will pay for it." Cuban then compared bitcoins with collectibles such as baseball cards, art, and comic books, stating that "There’s no real intrinsic value, you can’t eat a baseball card or shouldn't eat a baseball card; your artwork might look good on the wall but not much you can do with it. Bitcoin, there’s even less you can do with it. At least I can look at my baseball card...I can look at artwork.” Cuban also expressed his doubt for the mainstream adoption of cryptocurrencies due to its complexity, saying "Crypto...is so complicated for 99% of the population. Do you put it in a device? Do you print it out? How do you keep it from being hacked? Who's going to host it for you? It's just so difficult that it's only worth what somebody will pay for it." During the segment, Cuban also compared bitcoin to gold. "So I say it’s like gold. Gold is a religion. Now, people who are really into gold, they’ll tell you that there’s a bad depression and things go to hell in a handbasket, if you own gold then you’ll be okay. No, you won’t! You carry around a gold bar someone’s gonna hit your ass, knock you out and steal your gold bar and it’s gonna happen again and again and again. I’d rather have bananas, I can eat bananas. Crypto, not so much.” Cuban, however, did conclude on a more positive note, citing the blockchain as something he can make a great argument for, and conceding that cryptocurrencies can be used as a store of value. "There's a lot of applications, and they'll be used...but you can create a blockchain on your own without using all the available cryptocurrencies," he said. "It's not that I'm against cryptocurrencies. You just have to be very careful. At best they're a store of value." The Block reached out to Cuban directly to clarify his perspective. In an email, Cuban said "I probably shouldn't have said bananas, since they go bad," adding that the WIRED segment "was supposed to be a humorous piece." Cuban also added that "the rest of the point was solid. [Cryptocurrencies are] a store of value, not a currency, fiat or otherwise" and that "If you can get enough people buying it the value will go up. And vice versa." In August, the Dallas Mavericks announced that they were going to start accepting bitcoin as payment.
The Block Crypto

Bananas are a Better Investment than Bitcoin, Mark Cuban Says

Bitcoin has been falling in the past few days with many still convinced that it will slide lower than it currently has done. After testing the $7,800 support levels recently, the token is now correcting and has risen towards $8,200. The volatility and unpredictability in the BTC market have made it receive a lot of bashing from many critics. One major critic is billionaire technology investor Mark Cuban who said that he would be happier owning bananas instead of bitcoin. Cuban made these remarks in QA published on YouTube by technology news outlet Wired on September 27. He was answering a Twitter user who was asking why he hates crypto and if he is interested into offering opportunities for individuals to grow their net worth. First, it appeared that Cuban is unhappy with the token since its price is influenced mainly by the market’s demand for it: “Here’s the thing about crypto, particularly Bitcoin: Bitcoin is worth what somebody will pay for it.” Bitcoin Lacks Intrinsic Value Cuban is also convinced that BTC has no intrinsic value and to explain his thoughts he compared it to artwork, baseball cards, and comic books. He asked whether there was any sane investor who collected baseball cards and kept bragging about how their acquisition will appreciate. He said: “There’s no real intrinsic value, you can’t eat a baseball card […] your artwork might look good on the wall but not much you can do with it. Bitcoin — there’s even less you can do with it: at least I can look at my baseball card […] I can look at artwork.” Bitcoin, like Gold, is a Religion He went on to say that Bitcoin is too complicated for the average person due to the great number of its storage options and theft prevention requirements. He noted that Bitcoin, regularly referred to as digital gold, is really like gold. Most of the people who are really into gold will say that when one owns gold they are shielded from all forms of depression when they have gold in a handbasket. According to Cuban, ‘Gold is a religion’. He exclaimed: “You carry around a gold bar — someone’s gonna hit your ass, knock you out and steal your gold bar and it’s gonna happen again and again and again. I’d rather have bananas, I can eat bananas. Crypto… Not so much.” In August, Cuban said that Bitcoin is fundamentally similar to gold and he defined them both as collectibles. Finally, the billionaire clarified that he is not in any way against cryptocurrencies. However, he warns all investors to remain careful and says that virtual currencies are at best, stored value. In July, Cuban also defined Facebook’s Libra stablecoin as a big mistake. He noted: “Globally and in countries where there isn’t a lot of rules of law, or a lot of government stability, or currency stability, then it could be dangerous.” Like what you're reading? Subscribe to our top stories The post Bananas are a Better Investment than Bitcoin, Mark Cuban Says appeared first on FXTimes.com - Daily Cryptocurrency and FX News.
Cryptovibes

Mark Cuban’s Bizarre Bitcoin Rant Includes Baseball Cards and BananasMark Cuban’s Bizarre Bitcoin Rant Includes Baseball Cards and Bananas

Tech billionaire and Shark Tank personality Mark Cuban launched a savage takedown of bitcoin in a Wired video this weekend. He reeled off a list of well-trodden criticisms of the cryptocurrency, comparing it to baseball cards and slamming its ‘lack of intrinsic value.’ In a truly bizarre statement, he said he’d rather own bananas than […] The post Mark Cuban’s Bizarre Bitcoin Rant Includes Baseball Cards and Bananas appeared first on CCN.com Tech billionaire and Shark Tank personality Mark Cuban launched a savage takedown of bitcoin in a Wired video this weekend. He reeled off a list of well-trodden criticisms of the cryptocurrency, comparing it to baseball cards and slamming its ‘lack of intrinsic value.’ In a truly bizarre statement,
CCN

Bitcoin is like Baseball Cards with “No Intrinsic Value,” : Mark Cuban

Mark Cuban, owner of the National Basketball Association's Dallas Mavericks recently appeared on Wired to answer people's questions on Twitter. One such question was from a crypto enthusiast who asked, “if you're really into providing the opportunity for people to grow their network, why they hate for crypto? I CEO is the new IPO?” “Bitcoin […]
Bitcoin Exchange Guide

Peter Thiel, Mark Cuban-backed crypto-investment fund raises $45M in second funding round

With a surge in the adoption of cryptocurrencies across the world, many firms, both crypto-associated and otherwise, are moving towards rasing funds for diversifying their offerings. Many of these firms are backed by popular influencers of the market, many of whom are increasingly participating in several funding rounds. 1Confirmation founded by Nick Tomaino (ex-Coinbase) is […] The post Peter Thiel, Mark Cuban-backed crypto-investment fund raises $45M in second funding round appeared first on AMBCrypto.
AMBCrypto

1Confirmation Investment Fund, Backed by Peter Thiel and Mark Cuban, Raises $45 Million

1Confirmation, a cryptocurrency investment fund which was created by former Coinbase employee Nick Tomaino and backed by important figures such as Mark Cuban and Peter Thiel, has recently been able to raise $45 million USD from investors. The company was created by Tomaino after he left Coinbase and was launched back in August 2017. At […]
Bitcoin Exchange Guide

Mark Cuban-backed 1Confirmation closes new $45M fund

1Confirmation, a crypto venture firm,  announced on Wednesday that it has closed a second fund at $45 million. The firm had been aiming to close this fund at $60 million, but fell shy, having raised amid the bear market alongside rival venture firms like Pantera, which recently closed its DLT fund at $160 million. The news comes hot on the heels of Proof of Capital's $50 million raise, announced last month.  Launched in August 2017 in San Francisco by former Coinbase employee Nick Tomaino, 1Confirmation's first fund closed at $26 million with contributions from Mark Cuban and other financial heavyweights like Peter Thiel, Chris Dixon, and Marc Andreessen. It was the second crypto-focused VC fund at the time, following only NYC-based Placeholder Capital, launching amid the bitcoin peak of 2017. 1Confirmation has so far deployed its funds over 17 publicly disclosed investments, including Coinbase, Harbor, and Veil [see full portfolio here]. Still, the firm had one notable casualty in its portfolio in 2018 in Basis, the now-defunct stablecoin, as The Block first reported.  As for the investment focus of the new fund, Tomaino said in a blog post that they will stay connected with crypto-native users and avoid the "institutional aura" that most investment firms have. Earlier reports also suggest that the second fund will target early-stage projects by securing both equity and tokens.  "Today, the current total market value of crypto assets is ~$223B and investment/speculation is the only mainstream use case. We think in the next five years, that total market value will surpass $1T as the investment/speculation use case continues to grow and other mainstream use cases emerge," Tomaino wrote.
The Block Crypto
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Use The Bitcoin

Banks are Feeling Threatened of Bitcoin and for Good Reason, Tim Draper

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Bitfinex and Tether Lawsuit Analysis: The Severity of Roche Freedman’s Case

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Ripple Consolidates its xRapid, xCurrent and xVia Features Under One Network; RippleNet

Ripple recently announced the consolidation of its services within RippleNet offering. The blockchain-oriented firm known for its convenient transfer features in the blockchain ecosystem made these changes to enhance service delivery to clients. The New Ripple Network Outlook A spokesman from Ripple noted that besides the change of name, the firm had sought to make […]
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