Bitcoin Obituaries

The shills @CNBC brings on to pump #Bitcoin claim investors should be invested for the long-term. But in the long-term Bitcoin’s price will be zero. So you can’t buy Bitcoin for the long term. At most you can buy it as a short-term speculation, but only if you get out in time! Eulogy made by..

The crash of crypto is bound to happen for the same reason that all Ponzi schemes eventually crumble: There is not an infinite supply of new people willing to pay ever-increasing prices for the stuff that you currently own. The more interesting question is not whether many small-time investors will lose a lot of money on..

As in a classic Ponzi scheme old investors cashing out only do so at the expense of new money coming in. Unlike, say, investment in shares and bonds, bitcoin makes no contribution to the greater economic or public good. Moreover, whereas legal processes have led to the recovery of $14billion, or 70 per cent of..

If I write about the inevitable obsolescence of Bitcoin, I’ll have to lock my account again, won’t I. Eulogy made by Frances Coppola Source

In a crash, the holders of bitcoin will collectively have lost what they have paid the miners for their bitcoin. This sum may be not far from the sum originally invested with Madoff, after accounting for inflation. But bitcoin holders will have no one to pursue to recover this sum: it will simply have gone..

…I think the promise of decentralized finance using blockchain technologies is a real one, but Bitcoin itself may not last much longer. Eulogy made by Eswar Prasad Source

The deputy governor, Sir Jon Cunliffe, said the Bank had to be ready for risks linked to the rise of the crypto asset following rapid growth in its popularity. “Their price can vary quite considerably and [bitcoins] could theoretically or practically drop to zero,” he told the BBC. Eulogy made by Sir Jon Cunliffe Source

I am pretty sure Bitcoin and cryptocurrencies will continue to surprise us all, and that the greater fool is still to be found just around the corner. Cryptos have thrived because social media, the internet and connectivity have made it easy to disseminate the con around the global markets at incredible speed. They’ve succeeded because..

… those currently on the Bitcoin train (which is the vast majority of cryptocurrency speculators) are either uneducated FOMOites or are planning to get off the rollercoaster before it reaches the top and starts plummeting to its final doom. They’re essentially investing on the greater fool theory, i.e. the idea that someone dumber than them..

In the absence of its use as a currency, though, the only thing supporting the value of crypto is the expectation that there’s always going to be someone else who’ll pay to take it off your hands. You’re betting, essentially, on being the last person holding the bomb before it goes off. With Squid coins,..

Eulogy made by Jamie Dimon Source

MY LONG TERM #Bitcoin OUTLOOK! Crash – then extreme Rally – before final Death of #Crypto.           Eulogy made by  Henrik Zeberg Source