Saturday, May 21

“Bitcoin has its death announced”, says Unicamp professor

A Unicamp professor has returned to attack Bitcoin, saying that the currency has announced its death, after the new price drop.

Fernando Osorio focuses his efforts on speaking out against Bitcoin whenever he can, and in September 2021, he said that digital currency is a criminal thing. At the time, he argued that investments in stocks are better than Bitcoin.

In other words, their understanding of the technology is that this is not a good means of payment or a good investment. In his new attack, he declared that currency is “selfish”.

“Bitcoin has its death announced, it has melted”, says Unicamp professor

In a post on his personal Facebook, professor Fernando Osorio returned to attack Bitcoin, which is experiencing a drop in its market price. According to him, Bitcoin has its death announced after “melting” in price.

“Bitcoin: Death Foretold… MELTED! In Nov.2021 it was worth around 65,000, now in Jan.2022 it is worth around 35,000 (dollars)”.

In his publication, the professor declared that this happens with pressure from countries around the world that are banning the digital currency. He asked people to compare the price of Bitcoin over a period of 1 month or 6 months to understand more about the price drop.

In fact, the moment of Bitcoin is not the best in its price at the beginning of 2022, causing the coin to lose 27% of its value against the Dollar. This Monday (24), each Bitcoin is worth $ 33,500.00, a value that has not been seen since July 2021.

Fernando Osorio announced the death of Bitcoin with the drop in price /Reproduction

Professor explained the reasons he always criticizes: “Bitcoin is selfish”

Among the reasons that Fernando attacks Bitcoin, according to his opinion, is that people are “fooled” when investing in the currency, as they do not understand anything about the subject. It is worth remembering that he is a computer professor at Unicamp, one of the largest in Brazil.

Furthermore, he believes that Bitcoin is a selfish currency as it only aims at profits, not working, not building and contributing anything, only being targeted by speculators and deceivers who want to get rich quick. It is unclear whether he thus considers Bitcoin an asset as a share of companies, rather than a currency.

“Bitcoin is a SELFISH currency, as it only aims at profits, not working, not building anything, not contributing to anything, just speculating and deceiving people with the dream of getting rich and quickly.”

He also mentioned that Bitcoin does not bring benefits to society, does not pay taxes, among others. It is important to note that the IRS declared in 2021 that the number of taxes collected with Bitcoin has increased, as the trading volume compared to the previous year has doubled.

For the Unicamp professor, Bitcoin is not viable as a currency, since transactions are slow, its value is unstable and with limited availability, he said, believing that mining will end.

The lack of a country behind Bitcoin is also considered by him as a failure of the decentralized system to which the technology is proposed, thus criticizing the use of distributed systems.

“Bitcoin being digital is its death sentence”

At the end of his explanation, the professor again declared the death of Bitcoin because it is a digital currency and allows large movements in this environment. For Fernando, new cryptocurrencies could kill Bitcoin, this being its disadvantage.

“Bitcoin has the advantage of being digital and allowing large movements without having to transfer physical money, but this is also its death knell: investors can quickly flee Bitcoin, exchanging for new and better cryptocurrencies or other assets.”

The computer educator questioned the use of Bitcoin’s energy, which he believes has an absurd expense in exchange for nothing. For yes, he declared that he could point out more negative points of the technology, but it would be better not to spend more on the keyboard of his notebook.

It is worth mentioning that in addition to Fernando, another professor of computing at Unicamp, Jorge Stolfi, also does not like technology and is constantly criticizing it on his social networks.