Bitcoin Obituaries

Don’t be fooled by #bitcoin’s recent bump. Buying bitcoin is a fool’s game. Eulogy made by Steve Hanke Source

Bitcoin is essentially a “digital game” and is “worthless,” “Shark Tank” investor Kevin O’Leary told CNBC on Tuesday. “It is a useless currency,” O’Leary, chairman of O’Shares ETFs, said on “Squawk Box. ” “To me, it’s garbage, because you can’t get in and out of it in large amounts.” That’s because the receiver of the..

“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..

Bitcoin is up 6% to its yearly high of around $6,000. Don’t be fooled, a 6% uptick is nothing after its huge plunge. Bitcoin in unreliable and susceptible to fraud, it is not a currency, but nothing more than a highly-speculative asset Eulogy made by Steve Hanke Source

The ultimate irony in the #DropGold campaign, is that you can’t mine Bitcoin without using gold. This is just one of the many utilities of gold that Bitcoin promoters deny exist. But while they overlook gold’s obvious utility, they ascribe utility to Bitcoin where none exists! Eulogy made by Peter Schiff Source

Sadly, the nearly impossible attack has happened. And not with some obscure little crypto-currency no one has ever heard of, but with Ethereum Classic, one of the premier systems, and the home of that transformative invention, the Smart Contract. An attacker had somehow gained control of more than half of the network’s computing power and..

First of all, the cryptocurrencies don’t actually work as currency. That’s the big deal. They’re hard to buy because they are deliberately incompatible with the rest of the financial system. They’re incredibly hard to hold on to because, well, something goes wrong it’s “Sorry for your loss.” That’s a function of the irreversible design. And..

To be clear, Bitcoin is absolutely worthless by any real measure. It’s fake money that’s about as practical to use in the real world as Monopoly bills. Bitcoin is backed by nothing and requires tremendous amounts of energy to mine using computers. As it becomes more difficult to mine, it saps more and more energy, causing..

So what happened when the cryptocurrencies first came out in 2010 and 2011 is most people who looked at it with technical understanding went, “Oh, this is bovine excrement, and walked away The big fatal flaw is that it doesn’t actually work as currency. If you can’t use it as a competitor to all the..

 Eulogy made by Dan Peña Source

Overall, financial IT has been pretty dependable over the past 50 years without any major catastrophes, despite the occasional extended outages. ‘Cryptocurrencies are scams and anybody who puts any money into them and loses the lot only has themselves to blame.’ Eulogy made by Ross Anderson Source

Billionaire investor Warren Buffett is doubling down on his bitcoin criticism. “Bitcoin has no unique value at all,” Buffett told CNBC’s Becky Quick in a “Squawk Box” interview Monday. “It is a delusion, basically.” The Berkshire Hathaway CEO said he is sympathetic to optimists who bought the world’s largest cryptocurrency in hopes that “it would change their lives.” Bitcoin has lost..