Top South African asset manager shares his views on Bitcoin

swb

Well-Known Member
Joined
Mar 16, 2009
Messages
248
“I’ll stick with my US Dollar-denominated assets and my Visa and PayPal shares, thanks.”
I like Paul Theron's Youtube rants but I think he's a bit misguided on this one. Wonder if he knows how PayPal was started?
 
Last edited:

Napalm2880

Expert Member
Joined
Mar 8, 2007
Messages
2,628
In my mind it is simple: it's not replacing FIAT until it gets regulated.

Its got a much better chance of replacing gold though if it hasn't already.
I don't see Bitcoin ever being regulated. It's untraceable and decentralised by design.
 

neoprema

Executive Member
Joined
Jan 12, 2016
Messages
5,497
So I was speaking to my private banker today and while filling out a form, asked if under assets i have I can put the Bitcoin I own as its quite a relatively good amount i've invested there.

He's like "no, unfortunately no bank will recognise that as an investment or asset. if i was you I would take it out and put it into a proper investment thats governed by proper laws, not pirates of the high seas"

:ROFL: :ROFL:
 

Sapphiron

Expert Member
Joined
Jan 29, 2004
Messages
2,614
Yup. We used to use shells as a currency.

Which is easiest currency to fake? The one made from tree bark... or whatever they print "fiat" currency on. Anyone with a good printer can fake them.

Which is the hardest currency to fake? Bitcoin. Not even nation states can fake bitcoins.

The irony of Paul Theron calling bitcoin fake while punting a currency thats easier to fake is not lost on me.
It's worse than that, they don't even have to print it. They just have some federal or central banks add some to a database.
 

Batman77

Member
Joined
Apr 2, 2013
Messages
18
Hmm who can't read the future better, some random Theron or Elon Musk

Have Fun Staying Poor
 

hj007

Expert Member
Joined
Aug 30, 2006
Messages
1,196
Hmm who can't read the future better, some random Theron or Elon Musk

Have Fun Staying Poor
Hmm, Musk only bought btc through Tesla. If Musk is worth $150bn that means less than 1% of his wealth is in btc if Tesla bought $1.5bn of btc... Actually its far less since Musk owns less than half of Tesla. He did buy, but it's such a tiny piece of his wealth.. 1% is not a bad amount to put into btc or alternative assets.
 

marine1

Honorary Master
Joined
Sep 4, 2006
Messages
48,610
So wait, an investment "expert" is saying all of this about something in the market he cant predict or control or short? Sorry but the investment industry is the most corrupt - these guys think they can control everything and when they cant they say it will collapse or has no value.
 

quax

Senior Member
Joined
May 9, 2012
Messages
590
So wait, an investment "expert" is saying all of this about something in the market he cant predict or control or short? Sorry but the investment industry is the most corrupt - these guys think they can control everything and when they cant they say it will collapse or has no value.
This guys f***s!
 

Little Mac

Honorary Master
Joined
Jul 18, 2008
Messages
53,120
Warren Buffet always says don't invest in something you don't understand.
Good advice.
Still doesn't mean we're not in for a paradigm shift.
 

kruzader

New Member
Joined
Aug 31, 2017
Messages
8
That's fine, more Bitcoin for the rest of us to invest in... I think crypto is the currency of the future. Not just Bitcoin... all the major ones. FIAT currency is wrong on so many levels and it seems like it is the cause of the global debt crisis that is just getting worse.
 

PeekNPoke

Well-Known Member
Joined
Aug 16, 2005
Messages
385
Bitcoin is no different to fiat currency when it comes to how much it's worth. The Rand is worth R15/US$ because people believe it's worth as much. Bitcoin is worth R700k because people believe it's worth as much. None of these has anything concrete it derives from, like fiat currency once relied on gold.
 

S.Claus

Expert Member
Joined
Nov 14, 2017
Messages
1,546
200.gif

I would be worried if grandpa was managing my assets (old mindset and all )
 

Phil Lee

Well-Known Member
Joined
Nov 9, 2020
Messages
229
I actually like this Theron guy. I think he is well spoken and smart. I also believe this is his opinion and that is exactly that. Some people don't have the risk appetite that we all have and that's fair. Ill just leave it at that.
 

WollieVerstege

Senior Member
Joined
Jun 1, 2016
Messages
686
When reading opinion pieces like this I always have to remind myself that:
There were once financial experts who did not want to invest in,
  • mobile phones because who wants to be connected 24/7
  • online shopping because people will always want to physically handle something before buying.
The world is changing.
 

Ancalagon

Honorary Master
Joined
Feb 23, 2010
Messages
18,003
Hmm, Musk only bought btc through Tesla. If Musk is worth $150bn that means less than 1% of his wealth is in btc if Tesla bought $1.5bn of btc... Actually its far less since Musk owns less than half of Tesla. He did buy, but it's such a tiny piece of his wealth.. 1% is not a bad amount to put into btc or alternative assets.
Well the point is, Musk thinks Bitcoin is worth buying.

Who made more money over their career - Musk or Theron?

If Theron thinks his financial advice is worth something, why isn't he a billionaire?

It's like going to a relationship expert for help, when the relationship expert is on his fifth marriage. What does he know about marriage?
 

Just-ify

New Member
Joined
May 12, 2017
Messages
3
Visa, Mastercard and Paypal have changed their tune to be pro-crypto. So with his statements about being all about Paypal etc, he's basically got a stake in Crypto. Well played geyser, well played.
 

Potatoknight

Member
Joined
Sep 13, 2018
Messages
28
Top South African asset manager shares his views on Bitcoin

The idea that fake Internet money is going to replace fiat currencies and the global payments system seems a bit far-fetched.

This is the view of Vestact CEO Paul Theron who shared his views on cryptocurrencies and Bitcoin in a recent newsletter.
What a surprise that someone with a stake in the old way of doing things isn't accepting of a new/alternative way of doing things. Shocking oupa
 

Fudpukker

Active Member
Joined
Jul 1, 2012
Messages
97
My oom, you are definitely smoking your socks. An alumni of Elon Musk, should you have stuck around and learned from the best...
1614800060664.png
Doge - to the moon
 
Top