Wednesday, April 20, 2016

Top FinTech Exec: Bitcoin is Dead

Taavet Hinrikus, CEO of international-payments app TransferWise,  told Yahoo Finance, “Bitcoin, I think we can say, is dead. There is no traction, no one is using bitcoin. The bitcoin experiment, I think we can say, is over.”

“What really happened was a gold rush,” he continued. “People bought bitcoin because they thought it would be worth more tomorrow. And a lot of people got lucky. But we’re not seeing real people use bitcoin. And we don’t know what problem it solves. "

Bottom line: As I have argued for years. Bitcoin never made it mainstream. It was enthusiastically bought by many in the tech sector and segments of the libertarian community. The buyers have been exhausted,



  1. Bitcoin may never make it “mainstream” but it doesn’t need to. As healthcare laws become more cumbersome and drugs, legal and otherwise, become more regulated/tracked by the government, the usage of bitcoin will only continue to thrive on the black market, i.e., the dark web, Silk Road sites and any other mediums of exchange for health/recreation purchases. From this perspective it’s actually an advantage for bitcoin to not become mainstream, which would open the door to massive regulation, tracking, and government interference in a market that is completely void of this now. If bitcoin is currently being used to circumvent the intrusive, invasive, ever-encroaching reach of the government I’d prefer that it remain out of the mainstream. I’m curious Mr. Wenzel, are you in agreement that bitcoin will continue to be utilized for black market (free market) transactions, or do you think the cryptocurrency is doomed altogether?

    1. You must be kidding right? Bitcoin is OUTRAGEOUSLY trackable ... you want anonymity? Use cash or coins