The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Mark Cuban Says Bitcoin (BTC) Has Zero Intrinsic Value, But Blockchain Does – Here’s Why

by Daily Hodl Staff
March 7, 2020
in Bitcoin, Blockchain

Billionaire entrepreneur Mark Cuban says he believes Bitcoin (BTC) has no inherent value – but the technology that powers the leading cryptocurrency could be transformative.

In a new episode of Ask Mr. Wonderful with Kevin O’Leary, the billionaire and outspoken critic of Bitcoin says he sees a sharp distinction between crypto assets and blockchain technology. As for Bitcoin, Cuban says he views it simply as a collectible.

“You have to ask how to value it and people value it in different ways, particularly Bitcoin. So with Bitcoin, some people value it as a store of value which makes it like baseball cards, art, gold. They have value because people see value in them, not because they have intrinsic value.”

Cuban has long said he believes Bitcoin will not go mainstream because it’s too difficult for the average person to use. When asked if he likes gold better than crypto, Cuban says he prefers neither.

“I’ve never been a gold fan because, like I said, the delta between intrinsic and trading value is what people invest and see in it. But it’s no different than tulips. It’s no different than baseball cards. It’s no different than a lot of different things because it’s only worth what you think someone else will pay for it.”

As for blockchain technology at large, Cuban says the distributed ledger that powers Bitcoin may have many uses outside of cryptocurrency.

“Blockchain, effectively, is software. It’s a distributed database that’s managed independently and that inherent combination makes it a utility, makes it software effectively that has value and utility.

There are very unique use cases for blockchain. So, for instance, when people say there’s no intrinsic value to crypto, they don’t really look at the value of blockchain.

Now, when you take blockchains from different types of cryptocurrency, Bitcoin versus Ethereum versus others, there’s significant differences. But blockchain, in general, does have, at least, a basic intrinsic value. Not as high as what cryptos trade for but there’s basic intrinsic value.

For instance, a blockchain-driven general ledger system that had auditing capabilities. For a big company, you wanted to have a truly independent auditor, so you would set up a general ledger system using blockchain where an external third party would be able to look at different segments of the general ledger.

There won’t just be one auditor. It makes [the process] not just more efficient but it makes it truly independent.”

To provide a concrete example, the billionaire investor says that blockchain could have prevented the downfall of Enron.

“Imagine if this was a system used for Enron. So instead of having Arthur Andersen doing their auditing and their accounting, we know what happened from there. There were three different auditors and accountants.

Using blockchain, we’re able to look at a specific segment of their general ledger. They would have caught the fraud because you couldn’t fake out all three of them.”

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/bestfoto77

Submit a Press Release

Industry Announcements

  • After $3 Million Private Sale and Seed Funding, AiONE Reveals Staking Platform
    June 9, 2023
  • TRON Mainnet Celebrates Fifth Anniversary and Stands Now As the Preferred Global Blockchain
    June 8, 2023
  • Blockchain Pioneer Acquires International Fashion House Blk DNM
    June 7, 2023
  • WOW EARN Launches Its Crypto Wallet on iOS and Google Play
    June 7, 2023
  • BinaryX and AiGC Labs Developing First AI-Powered Virtual Reality Game on the Metaverse
    June 7, 2023
  • The Importance of Crypto Payments in 2023
    June 7, 2023
  • Proof of Talk 2023 – Two Days To Restore Trust in Web 3.0 and Design the Future of the Industry
    June 7, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$26,461.09
$26,461.09
0.65%
Ethereum
$1,836.83
$1,836.83
0.9%
Cardano
$0.301389
$0.301389
7.29%
XRP
$0.539931
$0.539931
2.34%
Dogecoin
$0.068943
$0.068943
1.26%

Spotlight

  • Can Bitcoin Copy Apple’s 80,000%+ Rise Since the Dot-Com Burst? Fidelity Macro Expert Says BTC Poised To Thrive
    June 2, 2023
  • XRP Could Explode by Up to 200%, Predicts Analyst Who Nailed Bitcoin’s 2022 Bottom – But There’s a Catch
    June 2, 2023
  • Top Crypto Trader Predicts One Ethereum Rival Will Plummet by Over 30%, Says Bitcoin Also Headed Lower
    June 2, 2023
  • More Than 75% of Shiba Inu and Floki Investors Are Sitting on Losses: Crypto Analytics Firm IntoTheBlock
    June 2, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl