Emil Oldenburg said that Bitcoin has no perspectives as a trading currency. Co-founder of Bitcoin.com company shared that he had sold all his bitcoin, however he did not stay away from cryptocurrency itself now preferring Bitcoin Cash.
According to Oldenburg, main problems of bitcoin are high commission fees and transaction speed that is getting lower and lower.
“I would say an investment in Bitcoin is the riskiest investment you can make”, – assured Emil Oldenburg.
The reason why bitcoin owners can not realize their risks is that the majority of them actually has been purchasing Bitcoin and has never tried to sell or trade their cryptocurrency. Users can make a limited number of transactions per second which partly depends on “block size” of the memory that store transactions on the blockchain.
“As soon as people realize how it all works they will start to sell”, – ads Emiel.
Some analysts expect bitcoin “bubble” to grow by two or three times, however it “will finally collapse when there will not be further money infusion to maintain it”.
Cameron Winklevoss, one of the first cryptocurrency billionaires, considers that the current bitcoin rate of $20 000 for 1 BTC is not the limit and this cryptocurrency will be at last 20 times more expensive and will compete with gold.