Bitcoin Obituaries

A Ponzi scheme, or “ponzi” for short, is a type of investment fraud with these five features: People invest into it because they expect good profits, and that expectation is sustained by such profits being paid to those who choose to cash out. However, there is no external source of revenue for those payoffs. Instead,..

It is my opinion that Bitcoin is a failure. Worse than that, it’s a disaster… So, Bitcoin was a good effort, it deployed some new ideas and technology, and showed that at some scale the “block chain” idea worked, but ultimately, although a successful proof of concept, failed to deliver. It doesn’t scale, except by..

First of all, calling it a currency — it’s not a currency. It’s not a unit of account, it’s not a means of payment.…it’s not a stable store of value. Secondly, it’s not even an asset, …in the case of Bitcoin, there is no income,” he said. “There is no use. There is no utility…

While I don’t disagree that a digital payments revolution is underway, or that blockchain could offer global financial and supply chain solutions, bitcoin isn’t the vessel that’s going to make this vision a reality. …History has proved that sentiment can shift at the drop of a pin in the cryptocurrency space. I’d suggest investors keep..

The bitcoiners and trolls are out in force because they are terrified this entire house of cards is about to collapse, and it will. Bitcoin is a Ponzi, and all Ponzi schemes ultimately collapse under their own weight. Eulogy made by Amy Castor Source

I mean, the thing about Bitcoin and the reason why it’s not really a valid investment thesis is that it is all bloody volatile. It’s five times the volatility of gold. Eulogy made by David Rosenberg Source

Sometimes there’s something so absurd that you hardly know where to begin to make the argument, for it’s so obvious and self evident that it should not have to be explained. Bitcoin and similar cryptocurrencies are such a case. Eulogy made by Anton Wahlman Source

Again, bitcoin may make a great deal of sense as a speculation. Ponzi schemes can work out great for early adopters. But that doesn’t make bitcoin, in any shape or form, a good investment or even a store of value, especially for those late to the game. And, for that reason, I can’t get behind it the..

Cryptocurrencies don’t belong in your portfolio. The reason is you can’t value them. An asset that doesn’t pay even a notional stream of cashflows — like bonds, which pay interest, or shares, which pay dividends, or property, which provides rental income — is just a gamble. By all means engage in it, like punting on..

Bitcoin is over. #RIP Eulogy made by Mark Dow Source

In contrast, bitcoin or other digital currencies are very likely worthless in the long term, and those are the kind of assets that investing legend Warren Buffet won’t touch. It’s these latter kinds of assets that have a greater chance to be in bubble territory because they don’t generate cash flow to support their valuations. Eulogy..

In reality, the cryptocurrency bear thesis is alive and well. Bitcoin and funds like the Grayscale Bitcoin Trust (OTC:GBTC) are not safe investments. Cryptocurrency transactions are far from the anonymous, risk-free transactions they are advertised to be. Bitcoin is a terrible store of value and an equally terrible long-term investment. And the more bitcoin becomes mainstream, the..