Bitcoin Obituaries

The corresponding moment for the cryptocurrency bubble will only be discernible in retrospect, but we have some pretty strong candidates already…. The notional price of the main cryptocurrencies continues to shoot upwards in a way that makes nonsense of the idea that they have any value as a medium of exchange. Even if they were widely accepted..

The constant fluctuations also mean Bitcoin cannot be used to price goods. And it is worthless as a medium of exchange as hardly anyone accepts it and even when they do, it costs up to $12 per transaction and can take hours to clear. … So, hype aside, Bitcoins are lottery tickets. They have no..

Bitcoin is dead. It was split in two. There is bitcoin cash, and bitcoin core/legacy. Deal with it. Eulogy made by Deadal Nix Source

“At a more fundamental level, we should wonder why Bitcoin exists at all. There is no reason. We can already trade almost anything that is legal over the internet and pay for it in various ways. It’s fast, convenient, inexpensive and quite safe.” “We can predict the collapse of the value of Bitcoin, even when..

Bitcoin BTC=BTSP is in a bubble and its fair value should be around $100, or about 99 percent below the current level, Katsunori Sago, chief investment officer of Japan Post Bank (7182.T) said on Thursday. Sago noted that blockchain is a great technology and one day bitcoin could become a major means of settlement. “But that will be years away,..

Blockchain has plenty of uses outside cryptos (smart contracts embedded in Ethereum are one such example), but Bitcoin probably won’t be the reigning technology in the future. Eulogy made by Ruzbeh Bacha Source

We see bitcoin as a bit of a Ponzi scheme,” David Gledhill, group chief information officer and head of group technology and operations at DBS, told CNBC on Wednesday. Bitcoin transactions are “incredibly expensive” and “all the fees are hidden through the crypto-mechanisms,” he said on the sidelines of the Singapore Fintech Festival. “We don’t think DBS..

Old and New Problems Bitcoin is trying to solve Transaction Fees – the considerable uptick in transaction volume combined with the number of transactions in a block has created a bottleneck – and recently, for a transaction to be confirmed in any reasonable amount of time, fees have skyrocketed Distributed, Decentralized Network – Because processing..

…bitcoin and other cryptocurrencies – this is something entirely different. In my opinion, there is a gigantic speculative bubble related to the bitcoin… …Because this is neither a serious method of payment nor a good way to store capital. The bitcoin feeds on itself. There are no fundamental reasons for its price to reach such..

“I can’t see a future of this when I see the attention played by all governments and regulators on anti-money laundering, on anti-tax evasion, on anti-terrorism financing. The anonymity of the transaction is a problem I think which would put pressure on bitcoin.”… Oudea said he was “not convinced” digital currencies would “see any development.”..

I’m not even terribly sure what bitcoin is: a currency or a commodity? It sounds like the former but it fails to exhibit the essential characteristics of money. It can hardly be viewed as a store of value. That requires at least a modicum of stability. Unlike the pound in my pocket, however, I can..

“From what we can identify, the only reason today to buy or sell bitcoin is to make money, which is the very definition of speculation and the very definition of a bubble,” he said at a news conference in Zurich Thursday. He added that in the history of finance, such speculation has “rarely led to a..