World Wide Web Inventor Tim Berners-Lee Says Crypto Is ‘Really Dangerous’ but Can Be Useful for Remittances
World Wide Web inventor Sir Tim Berners-Lee says cryptocurrency is “really dangerous” and “only speculative.” While claiming that crypto is for those who “want to have a kick out of gambling,” he noted that it could be useful for remittances.
Sir Tim Berners-Lee on Crypto
Sir Tim Berners-Lee, the British computer scientist who is widely credited with the invention of the World Wide Web, shared his thoughts about cryptocurrency on CNBC’s “Beyond the Valley” podcast, published last week.
Berners-Lee called cryptocurrency “dangerous” and likened it to gambling. Claiming that “cryptocurrency can be 100% speculative” and “not linked to anything at all,” he opined:
It’s only speculative. Obviously, that’s really dangerous.
He asserted that crypto is for “if you want to have a kick out of gambling, basically.” He also compared cryptocurrency to the dot-com bubble, noting that people were valuing various internet stocks “because of what they imagined other people will value them in the future, so in other words it wasn’t based on revenue or anything real so the bubble came.” He further stressed: “Investing in certain things, which is purely speculative, isn’t what, where I want to spend my time.”
However, Berners-Lee said cryptocurrencies could be useful for remittances. He shared:
Having been using it for remittances, that seems to be the most useful thing, if you transfer stuff into blockchain because you can get that immediately to your family.
The British computer scientist emphasized: “Just don’t keep the currency … get rid of it, put it back into USD.”
Tags in this story Tim Berners-Lee, Tim Berners-Lee bitcoin, Tim Berners-Lee crypto, Tim Berners-Lee cryptocurrencies, Tim Berners-Lee cryptocurrency, World Wide Web, www
What do you think about Tim Berners-Lee’s view on crypto? Let us know in the comments section below.
Chainalysis: Crypto Scam Revenue Dropped 46% in 2022 FEATURED | 2 days ago US State Regulator Launches Crypto Scam Tracker FEATURED | 2 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons
Federated Learning Consortium (FLC) for Decentralized AI to Launch in Hong Kong, Led by Phoenix and APEX Technologies
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimerShow comments
More Popular News
In Case You Missed It
Ripple CEO: SEC Lawsuit Over XRP ‘Has Gone Exceedingly Well’
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP “has gone exceedingly well.” He stressed: “This case is important, not just for Ripple, it’s … read more.
SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Economist Predicts the Fed’s Response to Inflation Will Push Crypto Higher