The Bitcoin article written 10 years ago by Sam Altman, who was removed from his position as the CEO of OpenAI in the past weeks but was later reinstated, especially under the pressure of Microsoft, has been revealed. While praising Bitcoin's decentralization, Altman states that it could be a world currency, but also criticizes its use in speculative and anonymous transactions in those days.
It was known that Sam Altman, the CEO of OpenAI, the company behind ChatGPT, had been following Bitcoin for a long time. A blog post that the famous manager wrote 10 years ago about the largest cryptocurrency has become the center of attention again these days.
“Not without legal proceedings”
In the article written on December 1, 2013, Altman touches on the importance of using Bitcoin legally worldwide and uses the following statements:
“Maybe Bitcoin will fail, maybe it will turn into a world currency. Or it will remain a niche investment tool. In order for Bitcoin to become a world currency in the long term, its use in official and legal transactions must increase. An asset whose main use is illegal operations will eventually fail. Currently, Bitcoin's usage area appears to be speculation and illegal transactions. Its volume in legal transactions is still very low… Its usage here is generally to convert it into dollars… People still see Bitcoin as a method of money laundering. “The fact that legal businesses that accept Bitcoin immediately return to dollars after receiving it shows that there is little trust in it.”
“The main goal is still to get rich quick…”
Stating that when he was asked how to buy Bitcoin, he first asked, "Why do you want to buy Bitcoin?", Altman stated that everyone sees it as a tool to get rich quickly:
“When my friends ask me how to buy Bitcoin, I also ask them why they want to buy Bitcoin before giving them a guide. They generally want to buy to get rich quickly. Acting thinking that someone else will pay you much more for that asset is actually no different from tulip madness. As long as these occur, Bitcoin cannot be a reserve currency. "But if you buy it as a hedge against inflation, if everyone does it in small amounts, that can happen."
“I have never seen gold as an investment tool”
Comparing gold, the most valuable metal, with Bitcoin, seen as digital gold, Altman slightly criticizes the yellow metal:
“I have never seen gold as an investment tool. Some people do a lot of transactions with gold, while others see it as a show-off or ornamental material. “Many people I know prefer something they can hold in their hands to Bitcoin or other digital assets.”
“Don't convert all your dollars to Bitcoin”
At the end of his article, Altman states that it is not right for investors to buy Bitcoin with all their assets:
“Don't buy Bitcoin with all your dollars. That would be stupid. It would also be foolish to ignore what happened. Track legal transaction volume in Bitcoin. “If this increases significantly then you can buy Bitcoin.”
Altman also states that he also bought a small amount of Bitcoin for the long term as a hedge against inflation.
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