Crypto PayPal founder Peter Thiel’s Founders Fund Makes Monster Bet on Bitcoin

[Rox]

Still using PayPal!? Even the PP founder has moved on, you must too.

https://www.wsj.com/articles/peter-thiels-founders-fund-makes-big-bet-on-bitcoin-1514917433

 

[Belinux]

Really amazing News, and Inspiring for me in actual to invest in crypto more as already done 200k $ news bookmarked

 

[Hyperz]

Ugh, paywalled. From what I've read elsewhere though most of the money was invested at around $1k so it's not as if they just bought in at current prices.

 

[Poppin]

Here, no paywalled: https://archive.is/www.wsj.com
And for your information, the money was no way around $1k, because you know, it's Thiel.

 

[Luke757]

... one must be prudent before contradicting the Administrator, especially when one is new to the forum ... and still on probation ... ... that said, according to this article, PP first CEO (two months...) was Bill Harris

https://www.dailymail.co.uk/science...M-founding-PayPal-CEO-Bill-Harris-claims.html

But of course that's not the point.
I just wanted to point to Harris' opinion about Btc, which seems to be the opposite of Thiel's
"Bitcoin is a scam. In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen.
In a pump-and-dump game, promoters 'pump' up the price of a security creating a speculative frenzy, then 'dump' some of their holdings at artificially high prices.
The losers are ill-informed buyers caught up in the spiral of greed. The result is a massive transfer of wealth from ordinary families to internet promoters."

... and in another occasion
"The cult of bitcoin [makes] many claims — that it's instant, free, scalable, efficient, secure, globally accepted and useful — it is none of those things."
The former financial technology CEO's primary concerns about bitcoin include its slow transaction time, scaling challenges and volatility, which "alone makes it useless as a payment mechanism and ridiculous as a store of value," Harris said.
"There has to be something underpinning it," he said."

https://www.cnbc.com/2018/08/14/ex-paypal-ceo-theres-just-no-value-in-bitcoin.html

 

[Luke757]

... to specify, I'm all for cryptos as long as they are not govs- or central banks-controlled