Bitcoin Obituaries

Steven Mnuchin said during the press conference that the government will not permit anything to threaten the U.S. dollar as the world reserve currency. If people turn to bitcoin en masse, especially since it has no real value, that could destabilize the world markets. The federal government will essentially choke off cryptocurrencies and bitcoin by using..

Donald Trump’s comments about bitcoin and the other cryptocurrencies on Thursday were right on target. He’s right: Their value is “based on thin air.” Your typical cryptocurrency is basically a “frequent flyers” program, only without any airline attached. You hope someone will accept your “miles” for something real. But there’s no guarantee. He’s right: They are..

Bitcoin has lost half of what It was designed to do – build Trust and Transparency.  Bitcoin has lost trust. The recent rise from $4,000 to $14,000 in the past three months may be the end of Bitcoin as we know it.  It’s the second worst thing that could have happened.  Here’s why? 1 – Mass volatility..

Indeed Bitcoin is now down below 10k. Has lost a third of its value in less than a week. Still a long way to less than zero as its true value is negative not zero given its toxic externalities! It will get to zero in due time. Eulogy made by Nouriel Roubini Source

Last week we saw bitcoin, the great hope of cryptocurrency, skyrocket to over $13,000. It was in the vicinity of $3,200 as recently as December. Why? Maybe it was Facebook’s new venture into creating its own digital currency, Libra — although, if that were to be successful, how it would offer any type of validation..

Bitcoin has no intrinsic value as an asset. Never had. It yields no cash, generates no income and serves no useful legal purpose. It is most useful for money-laundering. If you need to get your money out of the country, fast, bitcoin is a pretty good way to do it. I road-tested it back in..

I’ve witnessed several asset bubbles over the years and those trapped inside also say foolish things to rationalize the price rise. But none more foolish than what’s being said to rationalize the Bitcoin bubble. The bigger the bubble, the more foolish one must be not to see it! Eulogy made by Peter Schiff Source

But in his latest article, for Law360, crypto naysayer Mr Stark vents his most furious views yet as he brands initial exchange offering (IEOs) as “predators” before promising the SEC would soon be clamping down on the “unregulated crypto-casino fundraising mutations”. “They are an enticing medium for fraud, manipulation, insider trading, hacking and a broad range..

Despite the utopian claims of its proponents, Bitcoin is a right-wing nightmare which facilitates tax evasion, money laundering and environmental degradation. Bitcoin launched in 2009 when the despair of the last global crash provided the perfect context for the growth of subversive financial technology that aimed to upturn the old order. But, while this might..

My position remains the same. #Bitcoin will likely be replaced by a new technology & it’s manipulated. It’s possible it’s built to last, but not probable, so keep your position to an amount you’re willing to loose For most, that’s 1-5% of net worth It will likely go to 0-$500. Eulogy made by Jason Calacanis..

As I’ve said before, bitcoin is nothing more than a confidence game. It’s worth nothing if people suddenly lose their confidence in this fake digital currency. It’s backed by nothing. It’s the definition of a con. I’ve said the same thing when a bitcoin was selling for $20,000. And still was saying it when it plunged to $4,000…

I wrote in my last column that bitcoin is really a bitcon. I’ve been telling you this since the price of this “investment” collapsed from around $20,000 to $4,000 last year. Mario Draghi, head of the European Central Bank, echoed a similar view last week but didn’t do it quite as colorfully. Last Thursday night bitcoin crashed by..