Author Topic: FINANCIAL EXPERTS OPINIONS ON BITCOIN  (Read 6 times)

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FINANCIAL EXPERTS OPINIONS ON BITCOIN
« on: February 13, 2020, 07:37:37 PM »
I have Read some opinions from other Expert I think it will be good to share

1.The Bitcoin protocol has immense intrinsic value as a self-regulating frictionless payment network affordable to almost anyone.Here is a technology that allows anyone to send any amount of money to anyone else in the world at virtually no cost with nothing more than an Internet connection or smart phone. Bitcoin, like the Internet, is one of those innovations that can break down barriers; information barriers in the case of the Internet, and financial barriers with Bitcoin.(Dan Roseman)

2.Through rose-tinted glasses, Bitcoin can do no wrong. It is a currency that is free of central bank control, is decentralized, and it has proven that it can serve as a store of value for people who lose trust in their national currency (Greece, for example). However, the supply of every currency is controlled by some function, and in the case of the Bitcoin it is through the process known as "mining." In layman's terms, Bitcoin mining is the only way to introduce new currency to the marketplace, and it is performed by "miners" who use expensive software to solve math problems in exchange for the currency.(Jake Mann)
Editor, Insider Monkey

3.As a fee-only financial planner, I have a fiduciary responsibility to my clients to only recommend investments that are suitable to their specific investment plan and risk profile. While my clientsÂ’ risk tolerances run the gamut from conservative to aggressive, Bitcoin, with its short history, volatile price movements, and lack of intrinsic value is hard to ever recommend as an investment. While one could make the case for an investment in currencies (due to their diversification benefits), a purchase of Bitcoin would be pure speculation, akin to penny stocks.(Phillip Christenson)
CFA, Phillip James Financial

4.Currently, Bitcoin is a virtual and decentralized currency used to trade for goods and services, not backed by any government, company, or organization. It's truly a global unregulated currency that is not taxed at any level. Multiple attempts have been made to harness in virtual currency, but much like the government attempts to regulate the Internet, the regulations so far have failed. At some point, Bitcoins will likely need to be regulated to have lasting power. The questions will be who and how. Currently the Senate Homeland Security and Government Affairs Committee is investigating Bitcoins and other virtual currencies.(Braden Perry)
Partner, KENNYHERTZ PERRY LLC

5.“Think of the implications of a currency that has no borders, bars no one from entry, and is not controlled by a government. At a time when we're seeing just how much power is abused... I think the world is ready for a currency that is decentralized and controlled by the people. But yes, Bitcoin still has a journey ahead of it. It needs greater adoption, and more simplicity to appeal to the general public. But then again, the general public should be more informed anyway. Monetary decisions affect them more than the people that make the decisions.(Robert Lons)
Co-founder of BitcoinWebHosting.net


Read More ::https://www.tradingacademy.com/financial-education-center/financial-professionals-share-their-opinions-on-bitcoin.aspx