u.today
American entrepreneur Mark Cuban has reignited the debate about Bitcoin and bananas in his recent tweet.
While replying to the tongue-in-cheek suggestion from Andreas Antonopoulos about tracking bananas on the blockchain, Cuban jokingly replied that there would be no HODLers here.
Bananas, not Bitcoin
As reported by U.Today, the Bitcoin skeptic posited that bananas were easier to trade than the world’s largest cryptocurrency during his April interview with Anthony Pompliano.
You’re going to have to make it friction-free so grandma can do it, adding “the fact that we are arguing so much about it, and you have so many stands about Bitcoin — that just proves the point, that it's difficult.
Earlier this month, Cuban conceded that Bitcoin could act as a store of value, but he was highly skeptical of its chances of replacing the current financial system.
In his latest tweet, the Dallas Mavericks owner also came after Bitcoin’s slow transaction speed (it might take more than 30 minutes for one transfer), claiming that it would only take him one minute to eat a banana.
His basketball team started accepting BTC back in August 2019, but it only managed to collect a total of five payments.
Getting money right
Cuban’s main problem with Bitcoin is its lack of appeal for the general public. Hence, he once urged cryptocurrency advocates to convince their neighbors to buy it (not him).
The cryptocurrency industry is yet to come up with a use case that would usher Bitcoin into the mainstream.
In the podcast that piqued Cuban’s interest, Antonopoulos argues that sound money and governance are the two main killer apps, but it’s impossible to build new applications (including bananas on the blockchain) without ‘getting money right.’