What you need to know
- Cryptocurrency has been gaining high-profile allies in recent years.
- One member of that aforementioned club is Mark Cuban.
- He shared his thoughts on Ethereum's standing as well as Dogecoin's meme status.
Much like how Elon Musk recently weighed in on cryptocurrency and shared how he felt about it, Mark Cuban has done the same. Among other things, Cuban is the owner of the Dallas Mavericks as well as a popular member of the show Shark Tank and has, from his entrepreneurial perspective, given fresh insights into how he deals with cryptocurrency.
While talking to CNBC, he touched on Dogecoin, referring to it as something of an educational tool on crypto and something worth checking out for "fun." However, the cryptocurrency he gave a stronger endorsement to was Ethereum, saying it had the "most upside." He also commented that Bitcoin was "better gold than gold."
Ethereum has been a popular topic in the tech world for numerous reasons, one being that it has helped strain supplies of the best graphics cards to their limits. In the first quarter of 2021, it was estimated that 25% of all GPUs went to scalpers and crypto miners.
With that said, crypto mining is not the sole cause of worldwide GPU shortages right now. Numerous factors are at play in producing that end result, including the worldwide chip crisis that has caused entire industries to battle each other for chip supplies.
However, it's hard to argue that gamers wouldn't have a slightly easier time competing for the tech they wanted if crypto enthusiasts weren't in the picture. And on the other hand, it's hard to blame said enthusiasts for wanting mining hardware for themselves. After all, cryptocurrency is becoming a more normalized form of tender every day. Just look at AMC, which is set to open its wallets to crypto in exchange for movie tickets.
Robert Carnevale is the News Editor for Windows Central. He's a big fan of Kinect (it lives on in his heart), Sonic the Hedgehog, and the legendary intersection of those two titans, Sonic Free Riders. He is the author of Cold War 2395. Have a useful tip? Send it to firstname.lastname@example.org.
“I wish I had bought [ether] sooner,” Cuban said. That’s partly because “I think it’s the closest we have to a true currency.” So even Mark Cuban doesn't think crypto is real currency. For non-idiots, it's a hedge against inflation like gold (or it's a way to scam naive buyers, hence all the ads you see) and that's about it. Meanwhile, in traditional currency land, inflation won't even top 4% in the US this year - and if it does, that's the highest annual rate since the early 1990's. And all businesses take the US dollar. And the vast majority of those transactions are digital.
Thank you for signing up to Windows Central. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.