Latest digital currency and blockchain opponents

The media and bloggers sometimes compare cryptocurrency to gold. And what do gold investors think on the matter?

John Hathaway, the asset manager and entrepreneur operating mostly with gold says to Kitco.com: cryptocurrency hype is garbage. He is not alone to think so: lately, many businessmen operating with fiat money or traditional assets, have voiced similar opinions.

“There’s no question in my mind that it’s in a bubble”, Hathaway told. According to him, the cryptocurrency capitalization, tiny in comparison to gold, makes it clear that the former is overrated.

The same word – bubble – was used by the head of the startup accelerator in Silicon Valley at his speech where he talked about ICOs.

In other news from the camp of cryptocurrency and blockchain skeptics, the Bundesbank, the state financial regulator in Germany, is certain that the blockchain, while being a perspective technology, will not be used for consumer payments.

In the latest Putin’s meeting with high-profile businessmen and ministers, one of the participants proposed legalizing cryptocurrency to the head of the Russian Central Bank, Elvira Nabiullina, and, according to the local reports, met strong resistance. The main counterarguments can be retold as “and how is the government supposed to control it all after legalization?” Currently, there is no information what the President himself said.

This can prove sobering for those cryptocurrency enthusiasts who believe that the digital currency era is just around the corner. As it evolves, there’s going to be constant criticism from conservators both from the governmental bodies and business persons. The best scenario is further develop the code and provide the market with solutions that can’t be ignored.