Bobby Lee: fiat money system has so much flaws that it helps Bitcoin to thrive
The founder of one of the most rich Chinese cryptocurrency exchanges that has suffered dramatically due to the Chinese exchange ban has lately told on the economic conference titled Money 20/20 that Bitcoin prices keep going up due to failures, limitations and inconveniences of the traditional fiat money system. The cryptocurrency community reacted to this statement with enthusiasm and gratitude: “Someone had to say this,” notes one of such Bitcoin supporters.
Additionally, Bobby Lee decided to pointedly remark on the prohibition of cryptocurrency exchanges in his country. “The more China bans Bitcoin, the more prices go up”, stated Mr. Lee at the same speech. In a slideshow, he repeated his opinion that one of the biggest mistakes Bitcoin investors make is… indecisiveness to buy the currency and selling it after getting only a small gain.
He also told about how money launderers and different criminals affect the cryptocurrency market reputation, leading some people outside the market to believe that digital currency players are almost certainly violate the law.