Bitcoin Obituaries

Jamie Dimon: Governments look at bitcoin as a novelty  9 Hours Ago | 01:45 JPMorgan Chase CEO Jamie Dimon took a shot at bitcoin, saying the cryptocurrency “is a fraud….It’s just not a real thing, eventually it will be closed,” Dimon said …“It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed,” Dimon..

This is true for all cryptocurrencies, he argued, because of one very important fact: they are not, and will never be actual currencies. The blockchain is essentially an efficient transmission mechanism,” he said. “UBS and other banks, even some central banks, have adopted blockchain technology that speeds up transactions between the major banks of the..

Bitcoin’s buzz is gone, for now. It was crushed by the heavy-handed intervention of the Chinese government, which is cooling off investor enthusiasm for the digital currency…. shutting off ICOs and cryptocurrency exchanges altogether, as China is doing, goes beyond traditional regulation. It questions the very legitimacy of Bitcoin, and its prospects for gaining broad..

The sudden Chinese crackdown on the virtual coin fundraising of bitcoin and other cryptocurrencies that caused the plunge is either the end of the beginning for the crypto-party — or, more likely, the beginning of the end…. It makes no serious sense. In other words, cryptocurrencies lack precisely the supposed unlimited upside that speculators dream about. The..

So here’s my short answer. No, I don’t feel silly, but vindicated. If the recent run-up in bitcoin price proves anything, it’s that the virtual currency is still a dumb investment. Eulogy made by Michael Hiltzik Source

I’ve written about Bitcoin before.  It has three main weaknesses: No intrinsic value — can’t be used of themselves to produce something else. Cannot be used to settle all debts, public and private Less secure than insured bank deposits…. I commented in my Bitcoin article that it was like Penny Stocks, and that’s even more true with all..

So far, other than isolated situations, cryptocurrencies have not been used to facilitate commerce in the Mom and Pop World. They have been speculation vehicles that have drawn in people hypnotized by the out of this world run up in prices: $270 to $4700 in 8 months. Too good to be true. Sheep lured by..

I however, remain unconvinced. The blockchain certainly will change the world, but cryptocurrencies not so much. Nothing has changed, bitcoin is still a speculative bubble. The price, in my view, will eventually go to zero. But of course, on its way there, it might first go to more ridiculous highs. A higher price does not..

Bitcoin is a gigantic bubble ready to explode, according to Euro Pacific Capital CEO Peter Schiff. While Schiff explained to TheStreet how Bitcoin will be toppled, he also unveiled one key risk to the stock market.  Eulogy made by: Peter Schiff Source (7:00)

Sadly for Bitcoin enthusiasts, the day Bitcoin replaces national currencies will never come. Big governments have the power to crush Bitcoin before Bitcoin crushes them. Still, the digital currency won’t disappear. The technology behind it is far too powerful to be controlled by big government. Bitcoin will return back to its old role: a collectible currency for tech savvy..

Now enter crypto currencies.  Not only will they never become money – a general medium of exchange – as gold and silver once were and will become once again, but cryptos lack the necessary requirements to be money. Eulogy made by: Antonius Aquinas Source

There’s certainly a lot of bullishness about bitcoin and cryptocurrency, and that’s the case with bubbles in general. The psychology of bubbles fuels it. You just become more convinced that it’s going to work. And the higher the price goes, the more convinced you become that you’re right. But it’s not going up because it’s..