Bitcoin Obituaries

It looks like we have an asset bust for the record books in the making.  The cryptocurrency crash now under way today surpassed the dot-com bust that occurred at the beginning of the millennium… Whether or not cryptocurrncies recover–and I doubt they will–it is clear that their volatility make them unfit to serve as a..

Bitcoin, the first and still the most popular cryptocurrency, began life as a techno-anarchist project to create an online version of cash, a way for people to transact without the possibility of interference from malicious governments or banks. A decade on, it is barely used for its intended purpose. Users must wrestle with complicated software..

Bitcoin will continue to fall, because “there’s just no value there,” former PayPal CEO Bill Harris told CNBC on Tuesday. Harris, who is also founder of Personal Capital Corporation, came out swinging against bitcoin in an April op-ed in which he called the cryptocurrency a “colossal pump-and-dump scheme, the likes of which the world has never seen.” Eulogy made by Chloe..

“…cryptocurrency enthusiasts are effectively celebrating the use of cutting-edge technology to set the monetary system back 300 years. Why would you want to do that? What problem does it solve? I have yet to see a clear answer to that question.” “Cryptocurrencies… Their value depends entirely on self-fulfilling expectations — which means that total collapse is a..

Bitcoins are a modern-day nitvender. The price of bitcoins is no more related to economic fundamentals than was the price of the South Sea nitvender. There is no there there. It is a mathematical fact that when the price of bitcoins goes to zero, this zero-sum game will have completed its circle. Every dollar of profit that..

I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away. Bitcoin’s price rallied to over $6,600 yesterday, but it had been well under $6,000 last week. Even at $6,600, bitcoin is still worth 70 percent less than it was at the beginning of..

“[Bitcoin] is all based on the Great Fools Theory,” Belfort says in a recent YouTube video. “I know this better than anyone in the world. I’m not proud of that, but I do.” Belfort says bitcoin’s price surges are thanks only to a belief by buyers that there will continue to be ‘greater fools’ who they can..

The classic functions of money are threefold: they are a medium of exchange, a unit of account and a store of value. On this tally, none of the cybercurrencies stack up. They have a marginal use as a medium of exchange because some people will accept them in exchange for goods and services, but they..

Cryptocurrencies are a hot-bed for criminal activity so it’s no surprise that the innocent make easy prey. Fortunately, regulators such as the US Securities and Exchange Commission (SEC) are starting to crack down, and this goes a long way to explain the collapse in value of cryptocurrencies such as bitcoin, which is now down by..

CNBC’s Fast Money Hosts “Bitcoin Funeral”, Death of Cryptos Coverage CNBC’s Melissa Lee declared that it was time to stop covering Bitcoin on Fast Money. Fast Money was one of the few mainstream platforms that tried giving Bitcoin a platform about recent news. Eulogy made by Melissa Lee Source

The Bank for International Settlements just told the cryptocurrency world it’s not ready for prime time — and as far as mainstream financial services go, may never be. In a withering 24-page article released Sunday as part of its annual economic report, the BIS said Bitcoin and its ilk suffered from “a range of shortcomings” that would..

It’s tempting to believe that what you could call the “Big Short” moment has come and gone. With the price at about $6,500, the cryptocurrency crowd talks of a “screaming buy.” Hedge fund Pantera and venture firm Blockchain Capital are predicting a rebound to $10,000 or $20,000 within the year. That’s a doubling or tripling in months. It’s happened before…