Bitcoin Obituaries

…However, the CME Group is about to shake things up. While a number of folks see nothing but positives surrounding the CME Group’s announcement that it’ll begin offering bitcoin futures, and there is validity to the idea that it’ll draw in tons of new money from institutional investors who’ve previously been stuck on the sidelines,..

Warren Buffett is still not a fan of investing in bitcoin. The Oracle of Omaha reiterated his negative view on the cryptocurrency, according to CNBC’s Becky Quick. Bitcoin is “probably rat poison squared,” he said. Buffett is presiding at the Berkshire Hathaway 2018 annual shareholder meeting on Saturday. Eulogy made by Warren Buffett Source

Central bankers say the success of bitcoin and other cryptocurrencies is just a bubble…. The problem with bitcoin is that it could easily blow up and central banks could then be accused of not doing anything,” …. although technology is revolutionising banking, digital currencies will not replace physical money anytime soon. “It’s too far off.”..

The cost of making bitcoin is not a fixed-dollar amount; there is a feedback mechanism in mining any commodity. As the price of bitcoin increases, new entrants who want to mine bitcoin enter the market, increasing the effort required to mine a bitcoin, as its reward will be shared among a larger group of miners…

In an op-ed Monday, Joe Davis said bitcoin is not a currency, it makes for a poor investment choice and its biggest threats are the very institutions it was meant to overthrow. “Over the past few months, I’ve gotten this question more than any other,” wrote Davis. “As for bitcoin the currency? I see a..

The problem that cryptocurrencies face is that they fail the two key metrics of what makes a currency a currency,” Donovan said. “A currency has to be a widely used medium of exchange. Cryptocurrencies are never going to achieve that. Period.” “The fatal issue for cryptocurrencies is that the supply of them can only ever..

Bitcoin is the product of justified frustration. Its designer explicitly said the cryptocurrency was a reaction to government abuse of fiat currencies like the dollar or euro. It was supposed to provide an independent, peer-to-peer payment system based on a virtual currency that couldn’t be debased, since there was a finite number of them. That..

This bottleneck makes for a highly risky and illiquid cryptocurrency, Oldenburg says, adding that “the old bitcoin network is virtually useless.” Oldenburg goes on to say that many bitcoin investors haven’t understood these risks because they have only been buying the cryptocurrency – but never sold or traded them. “As soon as people realize that this is..

The corresponding moment for the cryptocurrency bubble will only be discernible in retrospect, but we have some pretty strong candidates already…. The notional price of the main cryptocurrencies continues to shoot upwards in a way that makes nonsense of the idea that they have any value as a medium of exchange. Even if they were widely accepted..

Like all other cryptocurrencies that have appeared in the wake of bitcoin, and like bitcoin itself, Ethereum is useless as a medium of exchange because the price fluctuates violently and unpredictably. But of course Ethereum is not a real currency, and neither is bitcoin; nor are Ripple, Monero, Litecoin, Dogecoin, or any of the other thousands of..

What you need to know about Bitcoin is that distilled to its technological essence, each Bitcoin is simply a number. That’s it: A number. It is simply a series of digits, with each number being assigned to each Bitcoin. The only difference between Bitcoin No. ABC123 and $1 Bill No. L88793293J is that at the..

…Because of the high price of Bitcoin, developers have raised the transaction fees on Bitcoin which negates its initial currency application. Plus the transaction speed of Bitcoin is a snail’s-pace when compared to many other cryptocurrencies. Much of the “new money” coming into the crypto market have no idea what they’re investing in. New investors..