Mark Cuban still doubtful on Bitcoin: “I go up and down on it”

Mark Cuban is still doubtful about Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, although recent comments suggest not as pessimistic as he was back in March.

Then, Cuban had told USA Today:

"I think as an encryption technology it’s great. I think as a transport mechanism that it’s unique and has a great opportunity in the future. I think it’s got no shot as a long-term digital currency."

He also compared bitcoin to gold, saying the "perceived value" of both is the main driver behind price swings.

Recently, when asked if now he would put his money behind bitcoin, he was undecided. He reportedly told Entrepreneur.com:

“Nope, I haven’t invested in Bitcoin yet. I go up and down on it.”

He noted that "no one" he knows in traditional sales accepts and keeps bitcoins as-is. Instead, they are converted to fiat. It is therefore not a currency.

The billionaire is best known as the outspoken owner of the Dallas Mavericks, as well as being behind numerous other ventures. His recent venture activity is well described by Entrepreneur's Kim Lachance Shandrow as a "motley mix of businesses, from the big (Magnolia Pictures, the Dallas Mavericks and Dropbox) to the small (a candied pretzel Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term, a Snapchat-like texting app and a sippy cup maker)."

One may have thought that his outspoken, out-of-the-box, entrepreneurial character would be the ideal recipe for bitcoin advocacy, but this isn't always the case.