Tim Berners-Lee Compares Crypto Investing to Gambling

Tim Berners-Lee Compares Crypto Investing to Gambling

Altcoin news, News

Tim Berners-Lee, the man who developed the World Wide Web (WWW), is of the opinion that cryptocurrencies are risky, and he likens investing in cryptocurrencies to gambling.

These are some of the remarks that Berners-Lee made about his views on cryptocurrency during an appearance on the “Beyond The Valley” program hosted by CNBC.

“At this point, it’s all just conjecture. It is clearly something that should be avoided at all costs. “If you want to have a good time gambling, essentially,” was what Berness-Lee had to say about cryptocurrencies.

He continued by saying, “Investing in some things, which is completely risky, is not what, where I want to spend my time.”

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Berners-Lee made the analogy between the speculative buying of cryptocurrencies and the speculative buying of dot-com stocks throughout the late 1990s and early 2000s.

At that time, the expansion of Internet-based firms was the most popular trend, and large sums of money were focused toward them.

But, there was also a great deal of high-level conjecture, and many bettors lost money; this resulted in a considerable decline in the buzz that was surrounding the event.

Berners-Lee did add, though, that if digital currencies could be rapidly converted into fiat currencies like the U.S. dollar or the euro, they would find some use in international money transfers.

The creator of the World Wide Web (WWW) thinks that “Web 3.0” will be the future of the internet. He differentiates “Web 3.0” from Web3 by the fact that it will give users control over their own data, including how it is seen and stored.

Yet, Berners-Lee is not unfamiliar with NFTs at all. The non-functional test version of the original World Wide Web Source Code was auctioned off at Sotheby’s in July of 2021 for a price of $5.4 million. In addition to that, it consists of a digital poster, an animated depiction of code, and a message written by Berners-Lee.

Compiled by Coinbold