Legendary American investor wants to invest in Bitcoin. What is the reason?
Source:
A well-Known investor Gary Shilling believes Bitcoin «black box», and prefers to stay away from cryptocurrencies. In an interview with Business Insider, a financial analyst noted that digital assets too «murky and complicated», to he invested. Schilling tried to study in detail the economic model of Bitcoin, but came to the conclusion that the cryptocurrency is not transparent.
theWho and how to bring down Bitcoin
According to the economist, the main problem of Bitcoin is the fact of anonymity of its Creator.
I'm just leery of things that are not transparent. And if I don't understand something to the end, I don't want to invest in it.
As an example, Schilling cited several sections from the book of Charles McKay «extraordinary popular delusions and the madness of crowds». It describes the history of a London fraudster, who sent in the local newspaper a very intriguing message: «a Great invention. The best investment. But I won't go into the details».
Gary Shilling gives his opinion on bitcoin, calling it a 'black box'
— Business Insider (@businessinsider)
Many idiots in London invested in this Scam. Finally, the scammer has collected the money and left the continent. More about him no one heard.
Schilling compares the crook from the book with Satoshi Nakamoto, who now owns almost a million bitcoins. These coins are more than enough to crash the stock market in just a couple of hours. Moreover, in addition to the Nakamoto there are a few «fat cats» with an impressive number of BTC.
Source: CCN
In theory, for the start of mass drain of the main cryptocurrency whales must act together. As soon as they will give a powerful impetus to the fall, it will support a simple traders who are short will begin to fall. However, this will lead to the fall of Bitcoin to the scratch. The fact that the Bitcoin network works flawlessly for over 10 years, is already a good proof.
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