Mark Cuban is the man behind the popular crypto-currency and alternative currency “cryptocurrency” Bitcoin.
The “crypto-fringe” entrepreneur and former hedge fund manager has been a prominent proponent of Bitcoin, arguing that it is a form of alternative currency and is a legitimate alternative to traditional financial instruments.
But, his views on Bitcoin and crypto-finance are not widely shared in the financial world.
Here are 10 things you need to know about Mark Cuban and crypto.
Cuban Hasn’t Been a Fan of Bitcoin Since 2015 Cuban, who once worked at Goldman Sachs and now is a prominent investor, has been outspoken about Bitcoin in recent months.
At a December 2017 event hosted by the National Association of Realtors, Cuban was asked whether he believes Bitcoin is an alternative to gold and gold-backed currencies, which he said it is.
Cuban said: “I’ve been a long-time fan of Bitcoin and it’s just an interesting system that I’ve been involved with for a long time.
But the whole thing is just a scam.”
The next day, Cuban tweeted, “Bitcoin is a scam, it’s not a currency.
I have nothing to do with it.”
In a December 21, 2017 tweet, Cuban wrote, “I don’t care if you like it or not.
Its just a currency, a form that the banks have taken over.
Its not a substitute for gold or other precious metals.”
Cuban also has been vocal in his support of Bitcoin during times of crisis, including during the 2016 financial crisis and the financial crisis of 2017.
In December 2017, Cuban took a shot at the Federal Reserve, saying, “The Fed just bought a bunch of worthless gold.
I am not buying it.”
On a January 4, 2018 tweet, Cuba wrote, “[The Federal Reserve] can buy gold with money, but the Fed can’t buy Bitcoin.
I know that.
I was wrong.”
Cuban did not respond to requests for comment.
Cuban Doesn’t Have a BFF with Mark Cuban On December 17, 2017, Mark Cuban announced on Twitter that he had reached out to Cuban to get his take on Bitcoin.
Cuban tweeted that he was “very happy to meet” Cuban, and that he wanted to “talk about Bitcoin and the crypto-economy.”
Cuban continued: “Mark Cuban and I are both big fans of Bitcoin.
And I’m looking forward to our conversation and hopefully getting to know each other.”
Cuban went on to say that he believes “Bitcoin has the potential to be a major disruption in financial services and banking, and he and I have very similar viewpoints.”
In another tweet on January 4 in 2018, Cuban shared a story about Mark and his “favorite cryptocurrency” “Coinbase,” which he claimed is “not a currency.”
Cuban wrote: “CoinBase is not a fiat currency, nor is it a crypto-system.
It’s just a way to store credit card data.
The fact that it has no central authority is the difference.
The Bitcoin blockchain is an immutable, decentralized ledger, like the one that exists in our bank accounts.”
On January 18, 2018, the “cryptoanalyst” wrote, Cuban and he have discussed cryptocurrencies, stating, “Mark and I would be interested in what we can learn about cryptocurrencies and the blockchain, particularly what is the best way to utilize it in financial and banking services.
Mark is a big proponent of cryptocurrency and I’m a big fan of blockchain technology.
We have discussed many aspects of Bitcoin over the years and we’re excited to get to know one another.”
Cuban Is a Fan, Not a Founder Cuban is a self-described “cryptonautical geek” and the founder of Cuban Space Technologies, an internet marketing and advertising firm.
He started Cuban Space Technology in 2013 and the firm’s first foray into cryptocurrency was in 2018.
Cuban Space is not an “open-source” company, but he has released the source code to his company’s website and on his LinkedIn profile.
Cuban is not affiliated with the Cuban Space group or any other Cuban venture capital fund, but his work at Cuban Space and the Cuban company has been cited by others in the crypto community.
In an interview with CNBC, Cuban said, “When you are a space nerd and you are interested in space, you should start an incubator for space companies and you should be involved in the space industry.
That’s what I am doing, so I’m not an executive of CubanSpace, but I have been involved in CubanSpace for some time.
CubanSpace is a new space company that is being incubated by CubanSpace.
Cuban Space Technologies is a “non-profit” company that “has a mission to promote and develop Cuban Space technologies, particularly for applications in communications, aviation and space, and to help facilitate the commercialization of Cuban space technology,” according to the company’s official website.
Cuban has been active in the cryptocurrency community