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"Bitcoin (BTC) depends on Fiat to exist"


Mark Cuban, the billionaire businessman and investor known to be a skeptic of cryptocurrencies, he told Anthony Pompliano that he could change his mind about Bitcoin if it were easier to use and more widely adopted, becoming a "Alternative to gold as a store of value".

For Cuban, Bitcoin It is not a good substitute for the fiat and instead depends on it, at least for the time being as it cannot be spent instantly without converting, making it more difficult to use. To emphasize this, he said that bananas are a better product than bitcoin itself.

(embed) https://www.youtube.com/watch?v=Dz0uoaqyx44 (/ embed)

Bitcoin is "virtual", which Cuban considers its "beauty" and its "problem", in reference to the technical difficulties inherent in bitcoin. For him "you can not spend (BTC) on anything" you want.

Inflation; a worrying point to consider

Cuban thinks that the bailouts that are currently taking place are a "Real world experiment"No one knows what will happen if they continue to be funded, but everyone knows that if they stop it, they can create a bigger disaster.

Pomp asked if the inflation associated with all this money printing Inorganic might spiral out of control in the near future, but Cuban believes it won't.

He explained that these measures had been taken in 2009 and 2010 to help the economy recover from the recession, and although he predicted "unbridled inflation", this did not happen, so he said that "deflation is born more as a risk than inflation "

America must rethink its "American dream"

To keep the American dream afloat, people will have to be more compassionate and help each other to survive this economic crisis.

"For capitalism to continue to prosper when we get out of this, it will have to be much more compassionate, it will have to put employees first, it will have to put shareholders last."

Cuban says that after overcoming this quarantine and returning to work, companies will have to change their economic models because people will not want to associate with brands that prefer to have money in the bank before helping their workers, which will represent a radical change in the way the US capitalist economy has been managed for years.

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