“Can Cryptocurrencies Survive?” – Armstrong Economics | $8,126.59

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 is the greatest scam in history” – Recode | $8,891.62

I’m tired of saying, “Be careful, it’s speculative.” Then, “Be careful, it’s gambling.” Then, “Be careful, it’s a bubble.” Okay, I’ll say it: Bitcoin is a scam. In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen. In a pump-and-dump game, promoters “pump” up the price of a security creating..

“Sell all crypto and abandon all blockchain” – Financial Times | $7,322.81

Blockchain hype is an essential part of the crypto-craze, and its fading is cause to expect the eventual crash. The reason is a relationship between a beguiling, but wrong, idea about technology, and the value it has injected back into crypto-currencies such as Bitcoin and Ethereum. Break that cycle, and you unspool the loop that’s..

“Why Bitcoin is bullshit, explained by an expert” – Vox | $6,790.53

Nicholas Weaver, a researcher at the International Computer Science Institute at UC Berkeley. Weaver teaches a course on blockchains and seems to think the technology is, at best, misguided and, at worst, a fraud. There are private blockchains, which is a 20-year-old technology that somehow causes idiots to throw money at it, and then you have..

“Bitcoin, the Biggest Bubble in History, Is Popping” – Bloomberg | $7,004.58

The greatest bubble in history is popping, according to Bank of America Corp. The cryptocurrency is tracking the downfalls of the other massive asset-price bubbles in history less than one year out from its record, analysts lead by Chief Investment Strategist Michael Hartnett wrote in a note. Eulogy made by Michael Hartnett Source

“Cryptocurrency and Blockchain: Explaining the Fraud in Four Slides” – Twitter | $7,041.83

Cryptocurrencies are provably inferior when you don’t require censorship resistance. Any volatile cryptocurrency transaction for real-world payments requires two currency conversion steps Any stable cryptocurrency requires any entity to convert dollars to tokens and vice versa at par Blockchain “security” guarantees are horribly inefficient and overrated A “private blockchain” is trivial to implement append-only log:..

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