"It’s a colossal pump-and-dump scheme, the likes of which the world has never seen."
Bill Harris (Author of piece)
"William H. Harris Jr. is the founder of Personal Capital Corporation, a digital wealth management firm that provides personal financial software and investment services, where he currently sits on the board of directors. Harris has founded several companies...he also served as CEO of PayPal Inc." (From 1999-2000, 1yr.)
From his LinkedIn
"Bill Harris is founder of Personal Capital and former CEO of Intuit and PayPal. With 25 years developing financial technology, he is busy dragging the financial industry into the 21st century. The nation’s first digital wealth management firm, Personal Capital gives people control over their financial lives."
In response, Forbes:
(Forbes is unconvincing to say the least.)
I personally think bitcoin is a conspiracy to subsidize the creation of massive data centers that will power the future digitized age that global technology and financial firms seem to be accelerating towards.
Weird that Harris mentions ICOs as if they are connected to bitcoin.
Bitcoins are scarce and yet digital. That excites a lot of people. I am less excited by bitcoin than I am about Ethereum. I am excited about Ethereum, because that digital scarcity is leveraged to create a global virtual machine, on top of which people can build decentralized applications, like Golem, which allows you to rent your CPU, or Peepeth, which is a decentralized social network. Most blockchains applications will die off, but not all. I don't own any bitcoin, but I wouldn't bet against it. People buy paper gold.