Bitcoin Obituaries

Cryptocurrencies – A product of government malfeasance These are false currencies, man made, another fiat. They have been given value by speculation caused be central bank unlimited printing & adoption of MMT Government will have to kill them, just as India is doing. They’ll die. Eulogy made by Steve Miller Source

“It’s a gambling device… there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it. Bitcoin hasn’t produced anything,” Buffett told a group of reporters ahead of Berkshire Hathaway’s annual meeting at the CHI Health Center in Omaha, Nebraska. “It doesn’t do anything. It just sits there. It’s..

Honestly, cryptocurrencies are useless. They’re only used by speculators looking for quick riches, people who don’t like government-backed currencies, and criminals who want a black-market way to exchange money. Eulogy made by Bruce Schneier Source

  Israel’s economics “tsar” Avi Simhon has denounced Bitcoin (BTC) as intrinsically inefficient, predicting that the cryptocurrency will therefore disappear. A Cointelegraph correspondent reported that Simhon — the head of the National Economic Council and senior economic policy advisor to the country’s prime minister — made his remarks at Israel Bitcoin Summit at Tel Aviv University on Jan. 8. Simhon..

To really work as money, bitcoin needs to be widely used. There need to be lots of actors providing a wide array of goods and services who are all willing to take bitcoin as payment. But why would anyone use it? Contrary to the libertarian romanticism that inspired bitcoin’s creation, most Western fiat currencies work..

What’s more interesting to me is the fatal flaw of passwords. You have to protect your Bitcoin wallet passwords at all costs. Bitcoins are like bearer bonds. If you steal them, they’re yours. The rightful owner can’t get them back. And if you lose your password, you can’t retrieve them. There are already people freaking..

…But essentially, its creation is fundamentally flawed, with an artificially imposed cap, the supply of Bitcoins is permanently fixed at 21 million which itself is a design devoid of economic sense. An economy needs as much money as transactions and activities occur within it. So if a lot of people want to start paying over..

Their are many long term issues of bitcoin that are unfixable by the community and could crash the economy or make the currency otherwise useless. Many of these issues can apply to the majority of cryptocurrencys as a whole. Here are three of the major issues with Bitcoin: BITCOIN WILL INEVITABLY BECOME CENTRALIZED- The main..

Behind every bubble is a good idea bursting to get out, and bitcoin kind of looks like a good idea, at least if you squint a bit. A digital currency without borders that governments can’t control and that allows secret online transactions? I’m in. Bitcoin itself? Not so much. So is a single bitcoin worth..

2008 – The deception begins, “The steady addition of a constant amount of new coins is analogous to gold miners expending resources to add gold to circulation.” Satoshi Nakamoto 2008. Fact – Bitcoin mining has no similarities to gold or mining gold, but plenty of similarities to the deceptive glitter of fool’s gold (iron pyrite,..

Bitcoin rose because 70% of the miners were in China. It was NOT simply because energy was cheap. Bitcoin became the LEADING means of money laundering and movement of cash out of China, circumventing their rule of law and currency controls. BitCoin was a means to get money out of China when you could not wire money out under..

BITCOIN’S price volatility is a pedigree of the rampant trader speculation which has fuelled the rise of the cryptocurrency, according to a top member of the Governing Board of the Austrian National Bank, Kurt Pribil. The banking chief explained his “unambiguous position”, underlining that the way he sees it, cryptocurrencies have no inherent value behind..