Why Bitcoin will fail

bigdog

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TS is so wrong. He's forgotten that BTC, ETH and the like are cryptoASSETS, not currencies. Just like gold and silver, you don't use them to buy food or properties like you would today using fiat money.
 

xiaosinsinful

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If Bitcoin really fail.

I think Bedok reservoir will be too crowded with floating corpse
 

junlove

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it will not 'fail' to zero. but it will most likely rise and fall with huge volatility.

it is supposed to fail based on fundamentals, or lack of. but 'thanks' to democracy or the lack of regulations... it continues to exist.

Huge percentage of bitcoin is owned by a minority or whales, so if you don't know what it means, and believe it's an alternative currency, suit yourself. It's just... another 'asset' for pple to play with, albeit it's virtual, and very very unstable.
 

junlove

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also... with Elon Musk 'cult-like' era... unreasonable P/E, meme stocks, crypto.. all in crazy mode...
 

xeonboy

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There are a lot of meme coins promoting ridiculous APY. They come out daily.
 

arowana9

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TS is so wrong. He's forgotten that BTC, ETH and the like are cryptoASSETS, not currencies. Just like gold and silver, you don't use them to buy food or properties like you would today using fiat money.
All these bitcoins & shitcoins etc sound like some ponzi scheme like tulips speculation to me, no real value but make money by selling to next greater fool!
 

kimsix

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my confusion with bitcoins and other coins as assets...

-anyone with programming skills, computer and internet, can create their own coins..

-bitcoins and coins are supposed to be limited in supplies, but they can still be sub-divided and sold...

so how valuable are they outside for tulip schemes? :s11:
 

reddevil0728

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my confusion with bitcoins and other coins as assets...

-anyone with programming skills, computer and internet, can create their own coins..

-bitcoins and coins are supposed to be limited in supplies, but they can still be sub-divided and sold...

so how valuable are they outside for tulip schemes? :s11:
Network effect

still same amount.
 

Chavvo

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I mean it's a coinflip play for young people like me. Hold 10 years+ and see result. If turn out good, then great. If turn out bad, then won't lose much also still got long road ahead. The technology behind Bitcoin is interesting and undeniable one of its kind. Also, if crypto does get adopted mainstream, it will be another option when investing where liquidity can flow to.
 

little pupsky

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If one understands the technology and the use case involved, it's less of a coin flip. Still risky yes, but at least more calculated risk-taking.

Bitcoin, to me, doesn't serve as a cryptocurrency, more as a crypto asset, akin to digital gold or art. As for the alt-coins I won't bother with the vast majority of them, but Ethereum/ether has promising use cases, growing institutional adoption and, together with bitcoin, currently command the strongest network effects, as reddevil mentioned upthread.
 

zoneguard

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“After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.”


"By now, it is clear that cryptocurrencies are speculative assets rather than money, and in many cases are used to facilitate money laundering, ransomware attacks and other financial crimes.4 Bitcoin in particular has few redeeming public interest attributes when also considering its wasteful energy footprint.5

Stablecoins attempt to import credibility by being backed by real currencies. As such, these are only as good as the governance behind the promise of the backing.6 They also have the potential to fragment the liquidity of the monetary system and detract from the role of money as a coordination device. In any case, to the extent that the purported backing involves conventional money, stablecoins are ultimately only an appendage to the conventional monetary system and not a game changer."
 

mrclubbie

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It is based on speculation. Just 1 tweet is enough to skyrocket the prices or destroy the prices.
 

Ganity_Era

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BTC's price is artificially pumped using tether. Its a gigantic scam
 
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