Dallas Mavericks owner Mark Cuban said over the weekend that cryptocurrencies — like Bitcoin and Dogecoin — are evolving in real-time as they become more common in everyday society.
Cuban said in tweets that cryptocurrencies are turning from something theoretical into something practical.
- “Crypto and each implementation is evolving in real time from ‘what is the potential utility’ to ‘What is the current utility and how many users does it have,’” he said in a tweet. “Tokens/Coin prices are now less a bet on the future and more a reflection of real demand.”
- “Like all generational technologies, it takes a generation to grow up. Crypto is in the phase where users need to be educated and products and services need to be sold and deliver on their initial promises. Then, Crypto can mature to the point we wondered how we ever lived with out,” he said.
- “Let me add one more thing. Hype/Pump is not marketing. If you want to know the value of a platform, look at the usage numbers for whatever utility, if anything, it provides. DOGE is an example. It’s future depends on whether people use it to buy things or it gains other utility,” he said.
Mark Cuban and Dogecoin
Cuban has long celebrated Dogecoin on Twitter. Many of his comments center around the growth and development of the meme-based currency. But he said the cryptocurrency’s biggest problem is that people can’t withdraw any of your Dogecoin holdings from the Robinhood app, where people can buy and trade cryptocurrencies.
- “The greatest inhibitor to its growth is that you can’t spend the doge you buy on Robinhood,” Cuban tweeted.