Billionaire investor and cryptocurrency advocate Mark Cuban His 8.5 million followers on Twitter have told what he thinks is the difference between signals and noise in the crypto space.
What happened: In a series of tweets on Wednesday, Cuban said that the “hype” in cryptocurrency is the speculation that is occurring. Meanwhile, the “signals” are the applications that are written about smart contracts and their impact on business operations around the world.
The hype in encryption is all speculation. Signal are applications that are written about smart contracts and their impact on business processes, procedures, and the supply chain as more products have a strong economic reason to use smart contracts.
– Mark Cuban (@mcuban) January 12 2022
The owner of the Dallas Mavericks previously said that he does not see cryptocurrency as a form of currency.
“Don’t think of cryptocurrencies as currencies. Consider them as decentralized, secure, and networked platforms with features that allow the development of applications that can have a unique benefit to individuals and businesses.”
Earlier this week, Cuban also went on to defend his comments about Dogecoin (CRYPTO: DOGE) More convenient for payments from Bitcoin (CRYPTO: BTC).
“You said Doge was good for spending and better than a lottery ticket. Do you still think the BCT is an inflation hedge? It is not and never will be.” Doge/btc is stable in the last 30 days, said Cuban.
Bitcoin is down 36% from its all-time high at $69,044, while Dogecoin is down 76% from its all-time high at $0.73.
As of Thursday morning, Bitcoin is trading at $43,800, gaining 2% in the past 24 hours. Dogecoin was trading at 17 cents, up 11.4% over the same period.
Photo by Gage Skidmore on Wikimedia Commons.