The founder of Hotmail: the value of cryptocurrency is completely dependent on market speculation

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2018-06-14 13:15:06

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The founder of Hotmail: the value of cryptocurrency is completely dependent on market speculation

Defenders of the cryptanalyst is often called the blockchain technology which will change the world. However, the founder of mail service Hotmail Sabir Bhatia believes the crypt basis only new fraudulent schemes. It is reported .

the

crypto currencies are not worth anything

Service Hotmail was bought by Microsoft in late 90-ies of over $ 400 million. The founder of the company believes the comparison of the dot-com bubble, with the cryptocurrency inappropriate. In his opinion, then even the small companies like Pets.com tried to follow the path of a known-profitable business. The value of startups on the blockchain Bhatia believes completely speculative.

The First projects Pets.com and Books.com was the first version of today's e-Commerce giants. They had a working model, but did not have the resources to gain a foothold in the market, as did team Amazon. Cryptocurrencies do not have nothing but speculation and precedents of use in criminal activities.

Bhatia singled out the project IOTA – ninth of the capitalization of cryptocurrency. In December last year, the IOTA capitalization exceeded $ 15 billion. Now it does not exceed $ 3.5 billion. Despite partnerships with well-known companies, Bhatia believes the value of the token is completely speculative.

There is a token IOTA, based on the concept of the Internet of things. Team coins did not sell a single device to anyone. The whole idea is that sometime in the future one IoT device will have the ability to interact with others through the blockchain. A project without any practical basis was estimated at $ 15 billion? Seriously? Its value depends entirely on market speculation.

Many investors invest their money in projects that are "too good but will never be translated into reality". According to the former CEO of Hotmail, investment in startups is empty will not bring any real benefit to society.

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