Bitcoin Obituaries

The cryptocurrency experts, who clearly didn’t see this coming, are blaming all sorts of temporary culprits — from jittery markets to “hard forks” (blockchain jargon for radical technical changes in a digital currency). But they’re kidding themselves. This is a long-term unraveling of all of the lies, exaggeration and populist fantasies that drove last year’s market mania…

If you cannot spend a bitcoin, then it does indeed become useless. You cannot put it on the wall, or wear it on your wrist. Anyone who holds them will scramble for the exit, raising whatever cash they can. And there is at least an even chance that this is what is happening now. Eulogy..

With BTC down almost 80% from peak (from 20K to ~4K) & all other cryptocurrencies down 80% to 99% I rest my case that this crypto bubble went bust for good. I feel vindicated,” said Roubini, a professor at NYU’s Stern School of Business. “So I will take a break for a few days from..

As history has proven on multiple occasions, most bubbles end with the majority of investors losing massive amounts of money as they hold and hope for the bubble to reflate. Regrettably, after bubbles pop, they can take decades to recover and “take out” the bubble price high, or, worst-case scenario, disappear. I think bitcoin will..

So much for Bitcoin, beloved of libertarians, drug dealers and, for a few golden years, the private sector currency that was set to displace the hated money of central banks. A week of sharp falls in its value has caused investors to question whether it is even viable as a financial asset, let alone a..

Where does Bitcoin go from here? Figuring out its price is more like going to Las Vegas and placing a bet. If you are good at reading market psychology, you might just make a profit trading in and out of the market. Just don’t hold it for the long term. It will continue to fall…

Since the beginning of this year, the dollar values of cryptocurrencies have collapsed. The two leading cryptocurrencies, Bitcoin and Ether, collapsed most spectacularly, losing up to 70% of their dollar value, and it appears that the retail investors are also the ones who got hurt the most. It is abundantly clear by now that cryptocurrencies..

[Bitcoin is] the sphere of the dope smoker, affluent, libertarian, anarcho-capitalist. You create something that is extremely volatile in price that attracts lots of gamblers. If I think back over my 43 years in financial markets or writing about them, observing them. This [Bitcoin] is so like so many previous cults and waves of delusion,..

No serious institution would ever allow its transactions to be verified by an anonymous cartel operating from the shadows of the world’s authoritarian kleptocracies. So it is no surprise that whenever “blockchain” has been piloted in a traditional setting, it has either been thrown in the trash bin or turned into a private permissioned database..

It is clear by now that bitcoin and other cryptocurrencies represent the mother of all bubbles… The new refuge of the crypto scoundrels is blockchain, the technology underlying crypto that is now alleged to be the cure of all global problems, including poverty, famines and even diseases… Citing scalability issues and a lack of decentralization,..

Yet, what’s amazing to me is that we are still, as an industry, talking about it — bitcoin, now crypto, blockchain — as if its potential to revolutionize our global financial system, and the way money moves between parties around the world, is just around the corner. It isn’t because it won’t. Eulogy made by Karen Webster Source

Crypto-assets are not money or currencies. So people wishing to invest or speculate in crypto-assets should do so without harbouring the unrealistic expectation that they would one day become money or currencies that can be used as a means of exchange. Eulogy made by Norman T.L. Chan Source