Bloomberg TV: David Evans Skeptical Over Future of Bitcoin

By  |  July 24, 2014
 | 

Does Bitcoin have a future? Bloomberg today reported on how Bitcoin is used and whether or not there is real value in the currency. Several illustrious Bitcoin disbelievers joined together around the Bloomberg desk to discuss the state of Bitcoin and its future. Economist David Evans, Market Platform Dynamics founder, weighed in with his opinion.

Does Bitcoin have a future? Bloomberg today reported on how Bitcoin is used and whether or not there is real value in the currency. Several illustrious Bitcoin disbelievers joined together around the Bloomberg desk to discuss the state of Bitcoin and its future. The team reiterated that we still don’t know what it is, a payments system or a platform, and Howard Ward of GAMCO compared it to the the “tulip mania” from the Dutch Golden Age. Tulips were selling for much more than their weight in gold and that bubble eventually popped.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    In the clip, Bloomberg Businessweek’s Brendan Greeley reported that there is still very little confidence in the digital currency as a means for transferring money. The team went on to discuss mPESA, the largest payments network in Kenya which is working well, while Bitcoin can not match that. To learn more about the possibility of Bitcoin becoming a way to improve financial services in the developing world, Greeley asked the founder of Market Platform Dynamics, economist David Evans, for his opinion. Evans weighed in saying that he was doubtful that it would.

    For full coverage, watch the clip here.


    See More In: