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Former PayPal CEO Brands Bitcoin a ‘Cult’, Trashes Use Cases

Bitcoin believers and enthusiasts beware, you could be unwitting members of a cult if Bill Harris is to be believed. Speaking on CNBC’s Fast Money program, the former CEO of payments services firm PayPal claimed that bitcoin’s supposed advantages are non-existent. “The cult of bitcoin make many claims — that it’s instant, free, scalable, efficient, secure, globally accepted and useful ...

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Bitcoin’s Volatility Renders it Useless as a Payment Method, Says Former PayPal CEO

Bill Harris has made clear his view on cryptos several times. The former PayPal CEO has in the past described Bitcoin as the ‘greatest scam in history’ and a massive ‘pump and dump scheme.’ Harris recently reiterated his stand, further claiming that all the praise that Bitcoin has been receiving as an efficient payment method is fabricated and untrue. Bitcoin ...

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Is Bitcoin A “Cult”? A Former Paypal CEO Seems To Think So

From the belief that Satoshi is Craig Wright, to some considering that Bitcoin is going zero, this nascent industry has had its fair share of unpopular and contrasting opinions. A former Paypal CEO’s appearance on CNBC has only cemented this theme, with this legacy market proponent likening crypto to a cult. Bitcoin Is A Cult? I Don’t Think So Although the ...

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New ASU Blockchain Lab Research Shows Dash Can Easily Scale Near PayPal Levels

This post is also available in: Français Deutsch Português Русский New research from the blockchain research laboratory at Arizona State University (ASU) shows that the Dash network can scale on-chain to over half of PayPal’s current transaction levels with ease. The newly-released research paper, titled Block Propagation Applied to Nakamoto Networks, explores the viability of scaling the Dash network to ...

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Upcoming Dash Research Shows Network Can Easily Scale Near PayPal Levels

Upcoming research from Arizona State University (ASU) shows that the Dash network can scale on-chain to over half of PayPal’s current transaction levels with ease. The soon-to-be-released research paper, titled Block Propagation Applied to Nakamoto Networks, explores the viability of scaling the Dash network to mass levels on-chain primarily through increasing the block size. The paper specifically explores propagation techniques ...

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SEC Obtains Court Order Against ICO for False Endorsements Including PayPal and Boeing

The US Securities and Exchange Commission (SEC) has obtained a courter order to halt the activities of an initial coin offering (ICO) that defrauded investors, the SEC announced May 29. According to the SEC press release, Titanium Blockchain Infrastructure Services Inc. has raised $21 mln from investors both in and outside the US. A complaint from the SEC that was ...

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Ali Baba & PayPal Reject Crypto as a Medium of Exchange

Big investors and business icons are rejecting cryptocurrency as a viable medium for exchange. The market has been struggling to become a “reliable currency” despite several countries legalizing digital currencies and crypto exchanges. Bearish remarks from trend makers have been negatively impacting the crypto market. Bitcoin price (BTC) plummeted to the $8,000 level while the entire cryptocurrency market capitalization dipped ...

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PayPal CFO John Rainey | Rejects Bitcoin as a Reliable Currency

Bitcoin price (BTC) is crashing instead of rallying: Bitcoin price has failed to generate gains for investors since Warren Buffett, and Bill Gates rejected the cryptocurrency markets two weeks ago. Bitcoin price lost almost $1,800 in the last two weeks.  Several other industry experts are also refuting bitcoin’s potential to work as an alternate currency. They believe the higher level ...

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Bitcoin Price Too Volatile for Merchants, Claims PayPal CFO

Join our community of 10 000 traders on Hacked.com for just $39 per month. The bitcoin price is too volatile to make it a useful payment tool for merchants, PayPal CFO John Rainey claimed in a recent interview. Bitcoin Price Too Volatile for Merchants Rainey made this claim during a recent episode of “Mad Money,” explaining that merchant margins are ...

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