Internet Inventor Talks About Cryptocurrencies: “As Dangerous As Gambling!”

Tim Berners-Lee, inventor of the World Wide Webcoined cryptocurrencies in an episode of CNBC’s “Beyond The Valley” podcast. “dangerous” He described it as a gamble.

World Wide Web Inventor Tim Berners-Lee Calls Cryptocurrencies ‘Dangerous’ And Like It To Gambling

Discussing the future of the web, Berners-Lee said that digital currencies are “just speculative”, comparing it to the dot-com bubble, where internet stocks are highly inflated, which often has no solid business behind it.

“This is just speculative. Frankly, that’s really dangerous, “basically if you want to enjoy gambling, it’s speculation,” he said.

“Investing in certain things that are purely speculative is not what I want to spend my time on,” he added.

However, Berners-Lee said that digital currencies can be useful for remittances if they are converted to fiat currency immediately upon receipt.

British computer scientist credited with inventing the World Wide Web in 1989.

Many advocates make statements about the future of the Internet in terms of Web3, which is a general phrase with no clear meaning.

But advocates often say that this version of the internet is working on blockchain technology, which first appeared with the cryptocurrency bitcoin.

“This is not blockchain,” Berners-Lee said, arguing that the technology is not fast or secure enough, adding that Web3 and blockchain have nothing to do with it.

*Not investment advice.