Cryptocurrency Quotes

Since an abundance of millionaires was made following bitcoins price shock in 2017, popularity has grown for the cryptocurrency scene. Investors, banks and governments have all had a taste of the cryptocurrency pie. Though many people mostly have positive things to say about cryptocurrency, some still think negatively about it. But does the bitcoin price matter, or does its value matter? Here are some Cryptocurrency Quotes that would intrigue you.

It’s no secret that the price of bitcoin is heavily dependant upon supply and demand. As a result, when reputable investors shun cryptocurrency calling it a waste of money, community speculation rises, and the price of bitcoin trades sideways for a while. As well as this, security concerns, new forks, cryptocurrency upgrades and widespread FUD by the media have an effect on bitcoin’s valuation.

Cryptocurrency quotes from naysayers

You can’t value Bitcoin because it’s not a value-producing asset. – Warren Buffett

We have a great educational post for Mr. Buffet. (Read more about Bitcoin Wealth Creation Mechanism and Does the Bitcoin Price actually matter).

[Bitcoin] itself is creating nothing. When you’re buying non productive assets, all you’re counting on is the next person is going to pay you more because they’re even more excited about another next person coming along. – Warren Buffett

This statement would be 100% correct … except for the fact that Bitcoin itself actually creates a distributed ledger which contains validated entries which are publicly accessible … Which other assets in the world can claim this?

I can say almost with certainty that cryptocurrencies will come to a bad end, – Warren Buffett

… a bad end for who? FIAT currencies? Anyone that predicts the future “almost with certainty” sounds more like a fortune teller than fortune maker…

Bitcoin is successful only because of its potential for circumvention, lack of oversight.

So it seems to me it ought to be outlawed, It doesn’t serve any socially useful function.

You think that’s all from naysayers? Continue reading some more cryptocurrency quotes…

It’s a bubble that’s going to give a lot of people a lot of exciting times as it rides up and then goes down, – Joseph Stiglitz (Nobel prize-winning Economist)

The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart. – Jamie Dimon (JP Morgan Chase & Co)

Avoid Bitcoin like the plague. There is nothing to support Bitcoin except the hope that you will sell it to someone for more than you paid for it. – Jack Bogle (Vanguard Founder and father of The Index Fund)

Bitcoin creates opportunities to launder funds acquired through criminal activities, tax evasion, even terrorism financing, as well as the spread of fraud schemes. – Vladimir Putin, President of Russia

In terms of cryptocurrencies generally I can say almost with certainty that they will come to a bad ending. Now when it happens or how or anything else I don’t know. – Warren Buffet

What does this negativity mean for crypto?

Nothing. As much as people want to downplay the true potential of cryptocurrency, it will remain relevant. There is no such thing as bad publicity. Countless times, people have tried to throw dirt on cryptocurrency in hopes of seeing it fail and have seen the opposite happen. It may be important to note, that many of the people who have negative things to say come from the traditional finance industry. Advice from those who have little to no expertise on blockchain technology should be taken with a pinch of salt. Many of the people speaking on bitcoin have ulterior motives.

The rise of cryptocurrency would result in their business not being as lucrative; a nightmare for these people. Just because someone is famous or reputable doesn’t mean everything they say should is true. The truth is the technology and potential of bitcoin are still being explored. Cryptocurrency is in a far superior state compared to when it first started out.
When bitcoin first started to make waves in the industry, many people thought it was a Ponzi scheme. If bitcoin was able to withstand the negativity and hit a peak price of over R269,518; it just goes to show that negative words have little to no effect on the success of cryptocurrency.

Cryptocurrency quotes from supporters

Blockchain technology could change our world more than people imagine. Bitcoin, however, could be a bubble. – Jack Ma (Chinese Investor, Philanthropist, and Co-Founder of Alibaba)

Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value. – Eric Schmidt (CEO of Google)

Virtual Currencies may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system. – Ben Bernanke (14th Chairman of the Federal Reserve, the Central Bank System of the United States)

There are three eras of currency: Commodity based, politically based, and now, math based. – Chris Dixon

I think the fact that within the Bitcoin universe an algorithm replaces the functions of the government is actually pretty cool. I am a big fan of Bitcoin. – Al Gore

Bitcoin is a technological tour de force. – Bill Gates

Well, I think it is working. There may be other currencies like it that may be even better. But in the meantime, there’s a big industry around Bitcoin. — People have made fortunes off Bitcoin, some have lost money. It is volatile, but people make money off of volatility too. – Richard Branson

PayPal had these goals of creating a new currency. We failed at that, and we just created a new payment system. I think Bitcoin has succeeded on the level of a new currency. – Peter Thiel (Venture Capitalist and Founder of PayPal)

There will be at most 21 million Bitcoins in existence. There isn’t even enough BTC to go around for EVERY millionaire to own one. So before you buy any other coin (LTC included), try to own at least 1 BTC first. – Charlie Lee (Founder of Litecoin)

And more supporters’ words…

One of the most powerful use cases of blockchain technology was to inscribe immutable and transparent information that could never be wiped from the face of digital history and that was free for all to see. Satoshi’s choice first to employ this functionality by inscribing a note about bank bailouts made it clear he was keen on never letting us forget the failings of the 2008 financial crisis. – Chris Burniske (Author of Cryptoassets)

Bitcoin has a couple of things going for it: one is that it is distributed, with no single point of failure, no ‘mint’, no company with offices that can be subpoenaed and arrested and shut down. – Hal Finney

Just as it got easier to use email, it will be easier to use Bitcoin as people invest in it and become more familiar with it. – Gavin Andresen (Core Developer of Bitcoin)

I think of Bitcoin as a remarkable social phenomenon. It’s an epidemic of enthusiasm … it is a speculative bubble. That doesn’t mean that it will go to zero. Speculative bubbles recur. We had a bubble in Bitcoin in 2013, and it looked like it was done — it fell from 1,000 to 200 — but now look, it comes back. – Robert Shiller (Nobel prize-winning Professor of Economics at Yale University)

It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution. – Tim Draper

What does this positivity mean for crypto?

At this point, positive cryptocurrency quotes regarding bitcoin are simply affirmations. Cryptocurrency terrifies the traditional fiat industry as they know their systems are inferior to the blockchain. With high fees to send money overseas, people have turned to cryptocurrencies in order to transact overseas payments. Just the other day, someone moved $194 million worth of bitcoin and paid only a 10 cents fee.

With cryptocurrencies entering the public consciousness, it’s no surprise everyone has contradicting opinions on it. Regardless of if these people are blockchain experts or not, at iCE3X, we know the importance of following the general mood toward cryptocurrency.

Cryptocurrency has continued to power through the finance industry despite harsh regulations and even bans in certain countries. Our iCE3X cryptocurrency exchange provides users with the ability to buy and sell cryptocurrency assets on the open market with highly competitive fees. Sign up now and start trading!

Did you hear some other cryptocurrency quotes despite those that we mention? From which team are you, the naysayers or the supporters?

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Disclaimer Notice:

This article is intended to educate and should in no way be seen as investment advice or an enticement to use the platform. Bitcoin is highly volatile with big profit opportunities but you should also remember that you could lose part or all of your investment whenever you take part in any high risk investment. Bitcoin trading is not a regulated industry in South Africa, which in itself carries additional risks. IF YOU ARE NOT AN ASTUTE BITCOIN TRADER, SEEK INDEPENDENT FINANCIAL ADVICE BEFORE MAKING ANY INVESTMENTS.