The billionaire investor and cryptocurrency advocate Mark Cuban explained to his 8.5 million Twitter followers what he believes to be the difference between signals and noise in the cryptocurrency industry.
Through a series of tweets published on Wednesday, Cuban stated that the “noise” in cryptocurrencies is the speculation that occurs around them, while the “signals” are the apps written around smart contracts and the impact they produce on processes. companies all over the world.
The noise in crypto is all the speculation. The signal is the apps being written around Smart Contracts and the impact they will have on business processes, procedures and supply chain as more products have a solid economic reason to utilize Smart Contracts
– Mark Cuban (@mcuban) January 12, 2022
Previously, the owner of the Dallas Mavericks said he doesn’t perceive cryptocurrencies as a form of currency.
Also Read: Mark Cuban Warns Against Dogecoin and Shiba Inu
“Don’t think of cryptocurrencies as currencies: think of them as decentralized, secure and interconnected platforms with features that allow the development of apps that can have a unique utility for individuals and companies.”
Additionally, Cuban publicly defended his comments earlier this week about the fact that Dogecoin (CRYPTO: DOGE) is more suitable for payments than Bitcoin (CRYPTO: BTC).
“I stated that Doge was good for shopping and better than a lottery ticket. Do you still think btc acts as a hedge for inflation? It is not and it never will be. Doge / btc has been stable for the past 30 days, ”Cuban said.
Bitcoin has lost 36% from its all-time high of $ 69,044, while Dogecoin is down 76% from its all-time high of $ 0.73.
Bitcoin was up 2% daily to $ 43,800 on Thursday morning and Dogecoin was up 11.4% to $ 0.17.
Photo by Gage Skidmore at Wikimedia Commons