“CME futures should stop, drive Bitcoin price towards zero” – Motls | $6,252.11

The Bitcoin price has set new records above $6,500 and nothing seems capable of stopping it on its way towards the infinity. As you know, I think that the only justifiable price of it is zero and everyone who doesn’t see it is a moron. The whole capitalization of over $100 billion is a measure of the people’s irrationality, a herd instinct worshiping a virtual ill-defined brand

Between November 13th and November 20th, Bitcoin may collapse or cease to exist due to the disputed fork.

no one will really buy new real Bitcoins, either, because the futures are preferred. In that case, the trading volumes of the real Bitcoin may go to zero and the CME Bitcoin real-time values will become highly fishy and volatile, too. But I believe this scenario couldn’t last for too long because some Bitcoin holders will realize that if one can’t sell it, it’s really worthless.

Eulogy made by Luboš Motl


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