It has been about a week since we heard anything controversial about Bitcoin, but this all changed when Bill Harris, founding CEO of Paypal, made a statement last week naming Bitcoin the biggest scam ever. A statement like this from someone who could perceive cryptocurrency as threatening to his business model isn’t necessarily shocking. Some consumers who, in the past, used Paypal to make purchases online are increasingly turning to Bitcoin.
This isn’t the first time someone has called Bitcoin a scam, whether due to bias against Bitcoin or cryptocurrencies, or lack of understanding. Certainly, Harris’ statement that Bitcoin is “the greatest scam in history’’ could indicate one of these.
Getting the facts straight