The inventor of the World Wide Web, Sir Tim Berners-Lee, says that cryptocurrency is “really dangerous” and “just speculative.” While he claimed that cryptocurrency is for those who “want to enjoy the game,” he noted that it could be useful for remittances.
Sir Tim Berners-Lee on Crypto
Sir Tim Berners-Lee, the British computer scientist widely credited with inventing the World Wide Web, shared his thoughts on cryptocurrency on CNBC’s “Beyond the Valley” podcast, published last week.
Berners-Lee called cryptocurrencies “dangerous” and compared them to gambling. Stating that “cryptocurrency can be 100% speculative” and “not tied to anything at all,” he opined:
It’s just speculative. Obviously, that’s really dangerous.
He stated that crypto is for “if you want to have fun with gambling, basically.” He also compared cryptocurrencies to the dot-com bubble, noting that people valued various internet stocks “for what they imagined other people would value them in the future, in other words, it wasn’t based on income or anything real, for what the bubble came from.” He further emphasized: “Investing in certain things, which is purely speculative, is not what I want to spend my time on.”
However, Berners-Lee said that cryptocurrencies could be useful for remittances. He shared:
Having been using it for remittances, that seems to be the most useful, if you transfer things to the blockchain because you can immediately send it back to your family.
The British computer scientist stressed: “Just don’t keep the currency… get rid of it, put it back in USD.”
What do you think about Tim Berners-Lee’s opinion on cryptocurrencies? Let us know in the comments section.
image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
