An Argentinian bitcoiner and blockchain industry insider claimed that Bitcoin (BTC) and crypto shouldn’t be equated – and it has described that BTC could eventually exceed gold like a buying and selling commodity.
Talking with the press outlet Rio Color negro, Maximiliano Carjuzaa, the founding father of Cash On Chain, claimed the “crypto world is filled with Ponzi schemes.”
He claimed:
“Except for Bitcoin along with a couple of other honest projects, most projects possess a pyramid aspect of them.”
Carjuzaa is among the nation’s best-known Bitcoin advocates and formerly labored at American Express, Mercado Pago, and Ticketmaster. He founded Cash On Chain, a “financial tools provider,” in 2017.
When requested if crypto had the ability to “replace fiat money over time,” Carjuzaa clarified it had become vital that you “first separate Bitcoin and crypto.”
He stated:
“Crypto isn’t something which catches attention. Also it frequently serves to create its founders wealthy.”
Will Bitcoin Ever Replace Gold?
Carjuzaa echoed sentiments voiced elsewhere – by individuals who declare that BTC will end up “digital gold” within the a long time.
Lots of people with your viewpoints (including numerous financial analysts and even central bankers) declare that BTC can be a major store of worth. But like gold, they argue, BTC is definitely an ineffective way of payment.
Carjuzaa mentioned:
“The financial characteristics of Bitcoin are much like individuals of gold. Very possibly Bitcoin will replace gold inside a couple of years, because gold can’t be sent over the internet.”
And that he stated when new causes of gold might be found, BTC prices will probably skyrocket.
He mentioned:
“Perhaps when individuals start mining wide, gold won’t be considered a rare commodity. That may take place in half a century. But gold has been in existence for five,000 years, which hasn’t affected ale nations to create financial policy. Such like may happen with Bitcoin.”
For BTC’s credentials just as one substitute for fiat, Carjuzaa was non-committal, stating:
“It will depend on individual nations to determine if they would like to grant Bitcoin legal tender status.”
Some Bitcoin maximalists claimed this past year that they’re stockpiling gold they could “trade for BTC” should “panic” hit global markets.
