Here we are again, back to where Mike Hearn left us few months ago. While Mike Hearn’s predictions about bitcoin’s untimely demise turned out to be false, another person from the payment industry has yet again rekindled the fire by saying bitcoin is dead.
The recent comments were made by the CEO of Transferwise, Taavet Hinrikus. Transferwise is a money transfer application that promises faster turnaround times. And the CEO of such a firm just decided to ignore everything that is right in front of him and call the digital currency a failure.
Taavet Hinrikus was caught making that statement about the death of Bitcoin during an interview with Yahoo finance. He was talking to the media on the occasion of the launch of Transferwise ‘ services in Mexico.
However, it is worth noticing that the blockchain technology is being utilized by banking industry at the moment and even Taavet Hinrikus mentions it in his article, but he conveniently forgets that the reason why banks are trying to emulate bitcoin is because they are envious of what it can do, and so are rest of the fiat based tradition fund transfer companies like Transferwise. Whether Taavet considers bitcoin a threat to his venture or not is known yet. But he seems to have misjudged and marginalized the whole movement that brought about this fintech revolution by prematurely killing it with his words.
His measure for Bitcoin’s success seems to be that of a layman who doesn’t have an understanding of the fintech sector. The reason bitcoin’s value has stabilized over time itself is an indicator that digital currency has at least found a pattern and is expanding according. The days of immature trading along with panic buying and selling might be behind us.
As more and more people understand bitcoin and start adopting it, the network strengthens in a steady manner. And those who had seen bitcoin only in the eyes of a trader will probably not like the stability. But rest assured the digital currency network seems to be healthy, with happy users.