'No Chance' For Bitcoin as a Reliable Currency, Says NBA's Mavericks Owner, Cuban

enwapame

enwapame

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Dec 10, 2019
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The owner of the National Basketball Association's (NBA) Dallas Mavericks, Mark Cuban, doesn't think can become a reliable currency.

In response to a question on whether their is any scenario where bitcoin could become a trustworthy currency; the American businessman, Cuban, said their's 'no chance' for such.

He made the statement in an email, giving reasons that; bitcoin is "too difficult to use, too easy to hack, way too easy to lose, too hard to understand, too hard to assess value."

Cuban argued that bitcoin is a collectible. "If you consider art or gold a viable, stable financial asset, than yes. It can be." Forbes the development on December 10.

The statement is probably the second time he criticizes bitcoin. According to the report, Cuban related bitcoin in September to speculative items such as gold, and basketball cards.

He claimed that bitcoin has less utility and that he prefers a banana to the cryptocurrency, due to the fact that the fruit is edible. However, Cuban's stance on bitcoin, in particular, does seem to have no affect on the area of business.


Cuban's Stance on Bitcoin Not Involved in Business

In August, Cuban's Mavericks announced they debuted bitcoin payment method for the fans to get tickets and other merchandise. The service was provided by BitPay, ranking Mavericks the second team to allow bitcoin payment in NBA.

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