Cleaning up Mark Williams' Bitcoin FUD From New York DFS
Let's get the facts straight. At the New York hearings Division of Financial Service conference on Virtual Currencies held this last week we heard from a wide variety of characters who are in, worked with, or have taken acritical viewof the currency in the media. The general agreement seems to reflect that the hearings were useful and positive. Most....
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Last December, Boston University School of Management professor Mark T. Williams issued a prediction that drew rapt attention from the mainstream media, as well as the united ire of the bitcoin industry, when he boldly projected that the price of bitcoin would lose 99% of its value and fall below $10 by the end of June 2014. However, at press time, the price of bitcoin on CoinDesk's USD Bitcoin Price Index remains well above this figure, rising 34% in May to pass the US$600 mark. But, if Williams was hoping the community would forget his prediction, he was proven false this week when a....
The chatter on social media surrounding December 2013 comments by Boston University Professor Mark T. Williams (better known inside the community as 'Professor Bitcorn') is as loud as ever as we begin the second half of 2014. Williams had taken to business publication Business Insider to voice his concerns over the digital currency, which was at the time just out of a massive bubble and an all-time high. "I predict that Bitcoin will trade for under $10 a share by the first half of 2014, single digit pricing reflecting its option value as a pure commodity play," he wrote in a piece entitled....
Mark T Williams isn't shy when mentioning his "steed" - the unassuming white bicycle parked in front of the Noodle Street cafe in Boston, Massachusetts, shining in the sun near some melting remnants of the winter's snow. He diverts attention to it: wanting me to know that it's a choice model; that it would be complemented should the right person stop eating their pad thai, look through the smudgy window above our corner table and notice it. He goes on about it, telling me it's just one of his bikes, that the others are built for snow, for harsh conditions. If it's his way of directing....
If there is a villain to bitcoin, Mark Williams would likely be named. He infamously made the prediction, in December 2013, when he declared bitcoin was not an innovation but a "smoke and mirrors deception". At the time, bitcoin was still trading near $1,000.00. He went on to predict that by mid-year 2014 the price of bitcoin would pop by 99% and be trading for less than $10.00. Bitcoin chaos ensued on the bitcoin forums. The attention he suddenly received brought more attention from mainline news agencies. He didn't seem to be promoting his new book: Longwood Covered Courts and The Rise....
Finance Professor Mark T. Williams, also known as the guy who thinks bitcoins will trade for around $10 by mid-2014, recently wrote an article for Business Insider where he claimed Bitcoin has the power to “harm nations, economies, and global commerce”. The basic premise of the article is that central bankers are “needed to spur economic growth” in various countries around the world. It seems that the former Federal Reserve Bank Examiner thinks the world would evolve into a dystopian civilization from a sci-fi movie if Bitcoin were to gain more recognition from the general population.....