Mark Cuban is known as the billionaire owner of the Dallas Mavericks, the head of the Shark Tank, and – in some circles – an occasional commentator on Bitcoin.
“Looking at the cryptocurrency trade, it’s like an internet stock bubble. That’s right,” said Cuban. Tweeted In January, the BTC jumped. Jump above 40kg Many people saw the thread as bitcoin, even bitcoin-hostile.
“As an ‘dot-com bubble,’ experts’ try to justify whatever the day’s pricing is. Crypto, much like gold, is driven by supply and demand. All details of debentures, fiat, etc. are just sales pitch. Vs. demand ”
Renowned bitcoin skeptic (and Sonarbagh) Peter Schiff took petrol, on fire, Answered“The difference is that some of those early internet stocks had real value. So they survived and eventually prospered. No cryptocurrency has real value so there will be no winners. They will all lose.”
Mark Kuber Original Take Bitcoin? It is difficult to determine and many may consider Cuba. It has weight. When people like Cuba approve or swipe the BTC, it adds or subtracts legitimacy to their vision. Non-crypto-Twitter crowd.
And that’s why Cuba Tweet on Wednesday, In the middle of Gamestop Mania, raising eyebrows.
Whatever the billionaire’s misconceptions about the bitcoin market, he is equipped with NFT and other blockchain-based ideas for his Dallas Mavericks. “You can sell anything digital using NFT,” he told Kindesk, hinting at plans to sell an array of digital products soon.
We know that Cuban bought Bitcoin and still owns Bitcoin, but we also know that he once was. Dr.“I would rather eat bananas than bitcoin,” because he “could eat bananas – bitcoin, not so much.”
Then it is more useful to take it again. Even his annoyance took the time in the “internet stock bubble” thread The answer A half-defense offer from Crypto to Shiff: “What could a collectible have more value than a buyer’s eye? Why would a digital collectible be different?”
Cuba has always had a nose and gifts for provocation. This is, after all, the same Mark Cuban who once a Fake fight One was fined ,000 500,000, along with a fake referee, as an April Fool’s joke On-court treadmill, And did the set’s own stunts Sharkanado d, Where he certainly played the role of President of the United States.
It seems that these tantrums can continue with bitcoin. Can we … get President Mark Cuban? In early January, he Tweeted He will run for president if the value of that bitcoin cracks to $ 1 million. Specifically, “I will run if BTC goes to 1 million and we get a promise to give 350 BTC grants to the treasury to every 4 year old so that we can give 1 satisfaction to every citizen every year, they must keep it for 10 years. Sounds like :)”
What’s really going on here?
Cuban Bitcoin skeptic or bull?
Is he serious about running for president?
I exchanged a few emails with the billionaire entrepreneur to clear his thoughts on Bitcoin and the overall blockchain space. He shared some advice on revealing when Hoddling planned for the NFT, said he saw prospects in the DFI, and that you were hoping for a cabinet post in the Cuban administration – sorry – he admitted he was mostly “screwed” around.
Oh, and as an overall blockchain space? Cuban thinks “the opposite is true”
Coindesk: My point is that you bought Bitcoin in the early days of Coinbase and haven’t sold it yet. (Congratulations, BTW.) Is that correct?
Mark Cuban: I was actually given back a bit then. I bought some way.
How have your thoughts on Bitcoin evolved since then?
Cuba: Didn’t change anything. I never thought it was more than a valuable store.
You tweeted that “a lot of luck will be created and lost along the way and we will find out who has the stomach of HOADL and who doesn’t. My advice? Learn how to hedge. What exactly do you mean by teaching you how to hedge?” Can you unpack what you want?
Cuba: Most people can’t handle volatility, whether it’s stocks or cryptocurrencies, but more importantly, as the price of BTC rises, so does the pressure. It’s hard to spend k 35k on a single BTC and get nervous.
What do you mean by stress?
Cuba: The same pressure comes with any investment. What to do when it goes down. And “Oh fuck, this shit is just 5 hours down k 10k, WTF!” “My wife is killing me,” or “It’s more than I’ve made in 3 months.” Such pressure.
Now imagine that you have just taken k 100k ed against your house, because your friend told you that BTC could go to 100 100 by the end of the year. If you borrow, you buy 3 BTC on Coinbase. But what you didn’t tell your friend is that you can’t afford to pay for that BTC loan. [You think] It just goes to the top. So you are planning to sell something from BTC every month off you get confirmation. You’re all excited because last week it’s been 3ka or more! Then boom. Boo boo boo $ 28K, and you lost ড 15 in 15 hours. You still have to repay that loan. And you are forgotten.
Cuba: Now some people say they should have known better. But it is no different than the stock market; The same thing can happen [with equities]. But that’s why I said it’s like the internet stock boom.
People were crowding, thinking it could just climb to the top. That internet stock is not declining. Until they did and people were crushed. One minute you become a millionaire on paper, the next minute your home loan is called.
And the same thing happens with professional investors. They are margins because the trend is their friend, and not after it. It flies over them. HODLers don’t care. They already have their stash. But for everyone involved, instability is high pressure high
If you are going to play the game, you need to know how to use the options, even if they are not fluid. Even if it sells some fuss with calls as a way to cover your bad side.
Funny. Did you do it
Cuba: It’s not something to do yet, but it’s something I’ve searched for.
You said in the same Twitter thread that “the biggest selling pitch is deficit versus demand.” … very low according to BTC’s design, and people want it, so when more people want it, the price goes up. But is it a bad thing? Isn’t this a feature, not a bug? In other words, how is gold different?
Cuba: It’s exactly the same. No one really needs gold jewelry. Or really no one needs BTC.
Do you think that any bitcoin will be used for anything other than an investment?
Cuba: Of course if DFI and BTC can develop together in a way that allows BTC to effectively have a bank account without a bank. This creates a utility for BTC. But with so many products being made right now, it’s been going to be Wild West for a while
How about ETH? Looks like there are a lot of potential use cases, right?
Cuba: I like ETH. Obviously this is a basic premise of DFI, and we’ll see what happens with ETH 2.
Carolina Panthers Russell Okung is now being paid in Bitcoin. Has any Dallas Mavericks expressed interest in getting compensation on Bitcoin? Do you think some more athletes will follow suit in the future? If so, will you expose it?
Cuba: He is not actually getting paid in crypto. He converts his cash. This is an eventful but funny story.
You famously (and happily) said that if BTC hit $ 1 million you would be a candidate for president. [Note: Cuban added some additional stipulation, that “we can get commitments to donate 350 BTC to the Treasury each of the 4 yrs so that we can give 1 satoshi to every citizen each yr, that they must hold for 10 years.”] Were you just shaking around, or were you serious?
Cuba: Screening around, but I think every American citizen should have a digital account that can hold money, stocks and any digital currency / crypto.
In this note, do you think BTC is likely to go to 1 million? More broadly, what do you think is the most likely fate of Bitcoin?
Cuba: Depending on how many individuals and organizations replace gold with BTC and DFI has become a real banking option that can be used. The problem is that whales control the game. Bitcoin does not have a large enough owner. Too many hands. Which creates market liquidity and market maker challenges.
You said that bitcoin is No. A hedge against the conditions of the Resurrection. Why can you tell the details?
Cuba: Why is that? The hedge is that the hedge is not a hedge, it is a hedge against inflation.
Thinking over the DeFi boom?
Cuba: It has a shot. We have to go through the Wild West period, but there is very little friction in the case of traditional traditional banking transactions. If they can move away from the fear of KYC and other regulations and allow products to take advantage of their benefits, it could really change banking dramatically.
However, I am not sure that BTC is the beneficiary. It is very volatile. It’s hard to deposit 200 and then it costs 17 175 in three hours.
Which in turn, effectively goes back to markets and exchanges.
In 2018, you Told Koindesk That Mavericks will start taking Bitcoin and Etherium next season. What happened to that plan?
Cuba: I wanted to see how many people wanted to use it as currency. No one on the side did.
Do you see any future in the NBA blockchain, or sports in general? Tokenization project? An MAVS coin?
Cuba: Sure digital products.
Can you give a few possible examples?
Cuba: You can sell anything digital using NFT. We can sell virtual mavs gear, sneakers, art, pictures, videos, experiences, our imagination with whatever we can sell. We are looking at adding virtual jewelry, accessories and clothing made to real photos on social media. So you can add cool Maves virtual sneakers to your posts, which look real on top of your feet.
The challenge is creating the market. It has started to create something with sneakers, art and pictures of special events, but it can and should be much more. I don’t know when this is the real business. But this is an area I want to invest in.
Did you learn anything about blockchain space from your experience supporting Unquin Gold ICO launch?
Cuba: I was not active at all.
What are your hopes for Bitcoin and blockchain space?
Cuba: The opposite is really limitless. It is a platform for a large number of amazing applications that surpass their traditional thematic money competitors.