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Investor Robert Herjavec of Shark Tank fame is a big proponent of cryptocurrency, predicting that it will eventually replace cash.
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To me, its the wave of the future. Fast forward 25 years from now, there will be some form of a cryptocurrency that we will pay for electronically, and the concept of cash will go away one day.
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The exchange breach he references is, of course, the recentCoincheck hack. It is understandable for a businessman to be wary of any type of currency that can swing wildly in value from one day to another. Still, the ups and downs of crypto is what makes it so exciting to many people.
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As for cryptocurrency replacingfiatin 25 years, thats probably a bit of a stretch. Its highly likely that virtual currencies will become as everyday as debit and credit cards are now, but cold, hard cash will probably be sticking around for some time.
The euro has declined more against the dollar than Bitcoin since April as Italian political turmoil riles markets. Euro Faces Repeat Politics Data uploaded to social media by eToro analyst Mati Greenspan shows that despite its downturn in May, Bitcoin is still 7% higher than it was April 1, while the euro has dropped 6%. Draw your own conclusions, Greenspan commented. Just for the fun of it. Heres a graph comparing Bitcoin to the EuroRead More
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While his comments above suggest that Robert Herjavec has bought his ticket for the cryptocurrency train and is picking a seat, hes actually still not fully on board. He thinks virtual currencies are still way too volatile. He notes:
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One thing you can say about the principals on Shark Tank, its that they are pretty bold in going after what they want. Investor and cybersecurity expert Robert Herjavec is also not shy on where he thinks cryptocurrency will go in the future. He recently toldMONEYthat well seecryptocurrency eventually chase awaythe concept of fiat.
Do you agree with Shark Tanks Robert Herjavec that cash money will vanish in the future, to be replaced with some form of cryptocurrency? Let us know in the comments below.
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Theres no base for it. When I buy a house and its overpriced, I can live in it. Theres some fundamental value. The challenge with cryptocurrency is, it could go to zero. Theres no one exchange that is making them. Exchanges that sell them now can be hacked. We recently saw the largest breach ever $500 million in 24 hours. If you had bought that exchange, its not that youve gone down 20% or 40%, youve actually gone to zero.
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Its going to have massive benefits for humanity, in all kinds of transactions.
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Verge (XVG), a privacy-focused cryptocurrency, is the news once again as unconfirmed reports suggest that it has fallen victim to another 51 percent attack. If proven to be true, it will be the third such attack on the cryptos blockchain since April. The previous two attacks resulted in the theft of $1 million and $1.8 million respectively. Details of the Suspected Hack On May 27, a Bitcointalk forum poster with the moniker CHIEF56 called attentionRead More
One reason why Herjavec is bullish on cryptocurrencys future is that hes a big believer in blockchain technology. He says that this new technology is an absolute game-changer that will revolutionize how businesses verify transactions. This viewpoint is shared by his Shark Tank compatriot,Mark Cuban.
Shark Tanks Robert Herjavec: Cryptocurrency is the Future
Images courtesy ofFlickr/@Disney ABC Television Groupand Bitcoinist archives.
