Jorge Stolfi: ‘Technologically, bitcoin and blockchain technology is garbage’
— Video call, Pyramid schemes collapse, Colleagues, Various schemes, 20 billion, Payment per user every 10 days, Already hacked, Forever, Idea, Sells — 1 min read
Jorge Stolfi, a professor of computer science at the University of Campinas (Brazil), says bitcoin works like a pyramid scheme. The value of bitcoin has dropped from around €60,000 to €20,000 since November. The tweet was the driving force behind a letter that 1,500 computer scientists signed and delivered to US Congress. In a video call from Campinas with EL PAÍS he explains why he says bitcoin won't exist in 20 years. He says the only way to get money out of bitcoin is by selling it to someone else, and that the profit of investing in bitcoin is the extent of the losses. The only advice would you give you to people who have invested in bitcoin? Sell it to new investors who can Source