In an interview for "The Center for Natural and Artificial Intelligence", the CEO of Forbes blew the hot and cold on Bitcoin and the future of cryptography.
After considering Bitcoin as "a call for technological help" noting "the instability of government monetary strategies", Steve Forbes says that digital gold would look like "steak" one day and "dog food" the next.
For the media magnate, the fact that Bitcoin is limited to 21 million tokens is utter nonsense. He considers that the queen of the cryptomoney community "made the mistake of thinking that if the quantity of Bitcoin was limited, the value would be even greater.
The 72-year-old believes that an efficient currency should "facilitate trade" and not pretend to "control the economy", saying that a scarce currency becomes "an obstacle to trade".
Acknowledging in half-words the success of Bitcoin as a store of value in Venezuela and Syria, Forbes points to a flawed political and economic environment as the main factor in its success.
In order to be democratized, the wealthy businessman believes that cryptomoney needs to be more intuitive in its use, but also less volatile to achieve a significant level of adoption.
In his final speech, Forbes expresses strong doubts about the acceptance of such technology by our governments. "Cryptonics will never receive government approval", under the risk of a major economic upheaval. The creators of decentralized projects will have to "assume the consequences of their actions later".
