Bitcoin Will Prove Naysayers Wrong; Say Experts After JP Morgan’s CEO Speech

The speculation regarding the future of Bitcoin has remained a persistent phenomenon. Predictions about what may become of the cryptocurrency have come in different shapes and sizes. Where is Bitcoin headed? What factors will determine the stability, or lack thereof, of Bitcoin?

A number of government and bank executives have openly criticized the currency, considering what they have perceived in their opinion as fundamental factors that will work against the currency in the near future.

One example is Jamie Dimon’s, CEO at JP Morgan, comment on CNBC in Davos.

Jamie Dimon’s, CEO at JP Morgan

Cointelegraph asked experts what they make of these negative predictions from certain quarters regarding the cryptocurrency.

It is becoming a pattern

Roger Ver a Bitcoin investor, says:

“Like everyone else who came before him,  Jamie Dimon will be proven wrong when he says bitcoin the currency has no future.”

The reasons he gave for this includes the fact that Bitcoin is already being accepted around the globe by many of the largest shopping sites, he also stated that more than a hundred thousand new people start using Bitcoin every single week and that these are the signs of a currency that is on a path to be used worldwide, stating categorically that Team Bitcoin has an amazing amount of talented and creative people working to make it a success.

“People will look back upon Jamie Dimon’s quote the same way we look back at Paul Krugman’s quote about the internet becoming no more important than the fax machine.” Concluded Roger.

Bitcoin has huge potential

Scott Bambacigno, a senior sales executive with over 15 years experience driving revenue for startups and well established businesses puts it this way:

“No surprise, this monologue has been repeated since day one yet Bitcoin is the best performing currency in 2015 (from what I understand). Banks have focused on taking things they love most about Bitcoin and removing things they don't. So now you're left with back office efficiencies among banks leading to lower operational costs, none of which is very exciting or beneficial to humanity in the biggest picture.

Contrast that to the potential Bitcoin brings to every one else across the globe and the narrative is crystal clear: Bitcoin will make life better for all of us.”

It’s a free world

George Basiladze is the Founder of Cryptopay, he believes that everyone is entitled to their opinion. George says:

“I think that everybody has a right to have their own believe. If anyone believes that bitcoin is backed by nothing and US dollar is backed by something, then it’s ok. What I think is that bitcoin may not become a major currency in next 2-4 years but it would find the right consumer niche. And that is already happening.”