Emil Oldenburg, co-founder of Bitcoin.com site, sold all his bitcoins and added that they were “useless”.
Oldenburg, who is the head of the technology at Bitcoin.com, says it’s the “most risky investment you can get in,” the Swedish portal Breakit reported.
He explains why he no longer believes in the cryptocurrency.
“It’s extremely high risk. I sold all my bitcoins and switched to bitcoin cash. The transfer of bitcoins to the stock exchange seems to cost a lot. When I sold my bitcoins, I had to pay 50 US dollars and wait 12 hours to complete the transaction, “said Oldenburg.
He revealed that Bitcoin.com “ceased to develop new services for the old bit-net network” and that the site is now primarily focused on bitcoin cash, which has been operational and functional since August.
“The old Bitcoin network is impractically useless. I see the solution in bitcoin cash, there is the future. ”
Oldenburg adds that the high fee for the transactions, as well as the delays in transactions, is the main reasons why he raised his hands from bitcoin.
In January, the value of bitcoin was about $ 1,000 per one bitcoin, and in 12 months it reached an incredible $ 18,000.
The Center for Macroeconomics and the Center for Economic Policy Research conducted a survey with nearly 50 academics from universities across Europe, and most of them agreed that there is no risk despite the warnings of certain financiers.
Separating bitcoin from the wider financial system was one of the key reasons why between the economists has dominated such thinking, and in addition to that, they emphasized that the major investment groups did not have significant amounts of digital currency.