Why Bitcoin Is Worthless: The Definitive Guide
- Thread starter Nighthawk
- Start date
The thread is about the fundamental value of cryptos not the current one. At one point broadcast.com was sold for 6 billion bucks. If you are the curious type, type it in and see what you get today...
But what do I know? I was buying GeoCities shares at $117....
I feel I shall go down the street called Memory Lane:
"There were a number of really good ideas during the dot.com bubble that just didn't make it. Flooz was not one of them.
Flooz.com sold online currency that could be used instead of credit cards. After users bought enough Flooz, they could spend it at participating online stores like Tower Records, Barnes & Noble, Outpost.com and Restoration Hardware.
Despite the stupidity of its concept, Flooz.com raised $35 million from investors. Corporate partners Cisco and Delta Air Lines used Flooz for corporate gifts.
And despite spending $8 million on an ad campaign featuring Whoopi Goldberg, Flooz went bankrupt in August 2001, less than two years after it opened its virtual doors."
"There were a number of really good ideas during the dot.com bubble that just didn't make it. Flooz was not one of them.
Flooz.com sold online currency that could be used instead of credit cards. After users bought enough Flooz, they could spend it at participating online stores like Tower Records, Barnes & Noble, Outpost.com and Restoration Hardware.
Despite the stupidity of its concept, Flooz.com raised $35 million from investors. Corporate partners Cisco and Delta Air Lines used Flooz for corporate gifts.
And despite spending $8 million on an ad campaign featuring Whoopi Goldberg, Flooz went bankrupt in August 2001, less than two years after it opened its virtual doors."
The thread is about value period-- I.E "Worthless"- If you ask Mark Cuban he would tell you something different then lets say Yahoo would. In 2011 we could have bought at $150.00; most of those dotcoms didn't even last one year before they imploded while others have seen their worth grow 4 fold. In the end fundamentals takes a back seat to price. You have been singing the same song and dance for quite sometime to only see the price go up like 8 fold...lol. Oh and show us fundamentally why it should not be at $4200.00. lol cmon man. While you are at it show me why someone SHOULD NOT pay $120,000,000 for a piece of canvas with some oil paint on it.
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Exactly the opposite, in the END fundamentals MATTER. So sure at one point some idiots Yahoo board members thought broadcast.com is worth 6 billion bucks, but time and FUNDAMENTALS proved it otherwise.
Just because tulip craziness can go for a long time that doesn't mean a tulip bulb is worth millions. So you explain it to me why everyone shouldn't start to make new cryptos and if they did why that sure wouldn't dilute the value of existing cryptos ???
If you made money in cryptos I congratulate you, just don't fucking tell me it has fundamental value of 4K per coin...
I love Mark, he would honestly tell you: Hey I found a bigger idiot who was willing to pay shitload of money for an over priced asset.
What coin Bitcoin do that dogecoin can't?
You can buy stock in a fundamentally sound company and lose money, no? what's my point here?
I haven't done any proper research but if your thesis is true. BTC can go to 10k ? which from this point on is only a 2 to 3x change or go to 0. so going down 4k times. it would not be crazy to short some quantity of it and just forget about it.