• Tim Berners-Lee, the inventor of the World Wide Web, recently criticized Bitcoin, calling it “only speculative” and comparing it to the dotcom bubble.
• He joins a growing list of crypto critics that include Warren Buffett and Charlie Munger who have called digital currencies “rat poison squared” in the past.
• However, some people argue that when the internet was first invented it too was highly speculative and could have gone up or down depending on public opinion.
Tim Berners-Lee Criticizes Bitcoin
Recently, Sir Tim Berners-Lee, the inventor of the World Wide Web came out to criticize bitcoin and other forms of cryptocurrency. During an interview he called them „only speculative“ and compared them to the dotcom bubble which eventually burst many years ago.
The Growing List of Crypto Critics
Berners-Lee joins a growing list of bitcoin critics that includes Warren Buffett and Charlie Munger. In the past both men have referred to BTC as „rat poison squared“ and believe that anyone who invests in digital currencies must be stupid.
Internet Also Highly Speculative
Despite his criticism of bitcoin some people point out that when the internet was first invented it too was highly speculative and could have gone up or down depending on public opinion at the time.
Bitcoin’s Value Not Based On Anything?
In addition to comparing bitcoin to a bubble Berners-Lee also questioned their values and decided that they weren’t necessarily based on anything, just pure speculation and traders‘ attitudes around the world.
Conclusion
No matter how well bitcoin performs there will always be some people who are not fans of it including its own creator – Sir Tim Berners Lee – who has labelled it „only speculative“. Despite this some people point out that all new technologies were once highly speculative so only time will tell if his predictions come true or not.