When people inside and outside the crypto money ecosystem talk about Bitcoin, there is an impact on the industry. On a small scale, people who speak bad about Bitcoin (BTC) can have a major impact on the future adoption of the crypto currency.
On a larger scale, more productive speakers can influence government ‘feeling against crypto, as well as impact on regulation, laws and legislation. Therefore, it is important to sit back from time to time and observe what people are saying about Bitcoin to understand important quotes and FUD. Doing so will help us become a better investor and provide a wider understanding of the entire community.
Let’s start with the thoughts of Microsoft founder Bill Gates:
Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency because it is not physically structured, and of course for large transactions the currency can be quite uncomfortable.
Why is this important? Actually, it’s pretty clear. Bill Gates is one of the most productive names in the technological world, so if he is behind a product, big names and policy makers will agree, especially if they can make money from him.
Next Al Gore:
When converting from Bitcoin to cash, this interface must have certain legal guarantees. In the Bitcoin universe, I think it would be pretty cool if an algorithm replaces the function of government.
Former Vice-President of the United States, an important figure and an important defender of Bitcoin. As a former government official, he can see clear ways of organizing Bitcoin in the United States. What is clear is that US regulation will undoubtedly provide a platform for the rest of the world. Therefore, while Gore is raising Bitcoin, the SEC’s and the government’s approaches should be carefully monitored.
Finally, PayPal’s Co-Founder Peter Thiel:
PayPal had a goal to create a new currency. We failed and created a new payment system. I think Bitcoin succeeded at a new currency level. But the payment system is a bit lacking. Very difficult to use and great challenge for this Bitcoin.
While Thiel admits that Bitcoin has accomplished some of the things PayPal can’t do, it points to Bitcoin’s more internal problems in some cases. This is a very important thing to consider because Thiel is an important name in finance. If there is a way to combine PayPal’s efficiency with the technology behind Bitcoin, the result can obviously be extraordinary.