Why Bitcoin Is Worthless: The Definitive Guide

[Visaria]

Actually the wise thing would be to put a small percentage of your trading account or assets into going long cryptocurrencies. Goes up another 10x..you make some decent money...goes to zero, small loss.

( thought everyone here was a TRADER...suddenly this has become a deep value fundamental investor forum! Buffett would be proud of you!)

 

[baggerlord]

I've been reading up on segwit. Am I wrong in my understanding that it is basically copying litecoin? If so, why not just use litecoin?

 

[Visaria]

... 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..

Can you explain this a bit further pls? Sounds a bit strange.

 

[Nighthawk]

Everyone who still writes Bitcoin as "BitCoin", hasn't any idea where he is talking about.

Oh I know a lot more than you "think". For example how to anger "BitCoin" fetishistas....

 

[Nighthawk]

Yeah it's worthless.....

.....the game....

You are making a valid point. It´s a "game" and you still haven´t read the author´s article....

 

[Nighthawk]

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."

I recall making 220% in one stock in a week in 1999 or was it 2000? Only to lose the profits in one day with another loser stock.....But it was a good risk/reward, just a "bit over-leveraged"...LOL!

 

[Nighthawk]

worthless = 4K a coin? things that make you say huh?

So, 3 years ago, Bitcoins have been worth how much in "fiat money terms"? Actually, investors give a $HIT about the worth of "Bitcoins". All they look after is to become rich millionaires in fiat money terms...I don´t know ANYBODY who keeps his Bitcoin wealth in Bitcoins....

All of them "convert" their wealth back into fiat money.

That´s their way of "value storage".

A bunch of TOTAL BULLOCKS! Why don´t these clowns keep their wealth in Bitcoins if they are SO, SO, SO convinced about the blockchain technology.

Bunch of hypocritical liars!

 

[algofy]

So, 3 years ago, Bitcoins have been worth how much in "fiat money terms"? Actually, investors give a $HIT about the worth of "Bitcoins". All they look after is to become rich millionaires in fiat money terms...I don´t know ANYBODY who keeps his Bitcoin wealth in Bitcoins....

All of them "convert" their wealth back into fiat money.

That´s their way of "value storage".

A bunch of TOTAL BULLOCKS! Why don´t these clowns keep their wealth in Bitcoins if they are SO, SO, SO convinced about the blockchain technology.

Bunch of hypocritical liars!

What is fiat money?

 

[johnarb]

......
Bunch of hypocritical liars!

you mad, bro?

 

[wrbtrader]

You gotta admit to one thing...after all the bad news, arrests and problems...it still goes higher.

Reminds me of the Dow and S&P when my old many showed me charts of them when I was a kid in the 70s. Some start to scream manipulation, cheats, worthless, its going to crash, it doesn't help my community, I should have got in when it was dirt cheap and such. Then it turns around and goes higher although obviously for different fundamental reasons but the technical reasons are scary twin like.

I saw newspaper articles at a museum that showed all the hysteria involving the Dow Jones Industrial Average since 1920...analysts opinion, mom & dad opinion, opinion of those that trade it, opinion of those that think its worthless...all there since 1920s.

Take away the years at the bottom of the chart...scary similarities although one did it in a much shorter time span and has the support of the government...the other does not and one day may have it.

Throw in some bar charts, candlestick charts and whatever...people are technically trading this darn thing called Bitcoin. In fact, I'm starting to see charting services starting to offer charting of Bitcoin in their trading platforms.

Hysteria