Bitcoin Obituaries

Investors should only consider cryptocurrencies such as bitcoin if they are prepared to lose everything, BlackRock Investment Institute said in its weekly report Monday. “We see cryptocurrencies potentially becoming more widely used in the future as the markets mature. Yet for now we believe they should only be considered by those who can stomach potentially complete losses,”..

While bitcoin is real and very alive today, there is reason to believe its success would be its own demise. Our analysis suggests that either bitcoin remains volatile and investors eventually walk away — or bitcoin stabilizes and becomes widely popular, only to die a slow, painful death by a thousand regulatory cuts across a..

“At a more fundamental level, we should wonder why Bitcoin exists at all. There is no reason. We can already trade almost anything that is legal over the internet and pay for it in various ways. It’s fast, convenient, inexpensive and quite safe.” “We can predict the collapse of the value of Bitcoin, even when..

The story that Bitcoin victims are being sold is that, because we cannot trust government-issued currencies. This is complete nonsense. Yes, the price of Bitcoin may yet double or even quadruple — because its price is based on pure speculation, and these stories are feeding such speculation. But Bitcoin’s market price is almost certain at..

Is bitcoin set to become “gold 2.0?” Answer: Absolutely not — and here’s why. Currencies can serve at least two functions: a medium of exchange or a store of value. People will take dollars as payment for their labor, because they know they can use those dollars to buy groceries or pay the rent or..

Nicholas Weaver, a researcher at the International Computer Science Institute at UC Berkeley. Weaver teaches a course on blockchains and seems to think the technology is, at best, misguided and, at worst, a fraud. There are private blockchains, which is a 20-year-old technology that somehow causes idiots to throw money at it, and then you have..

Bitcoin and the growing number of copycat blockchain-based fidgets are guilty of false advertising when called “cryptocurrencies”. They’re more like “cryptostamps”. Bitcoin and its many sprogs have none of institutional backing of actual currencies or even the physical presence and alternative uses of gold. They represent a pure mania – the price rising in the..

…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.”..

This is true for all cryptocurrencies, he argued, because of one very important fact: they are not, and will never be actual currencies. The blockchain is essentially an efficient transmission mechanism,” he said. “UBS and other banks, even some central banks, have adopted blockchain technology that speeds up transactions between the major banks of the..

The conclusion is that the incentive to buy BitCoin or any other virtual cryptocurrency is the speculation that someone else will pay more real world currency (real purchasing power) at some time in the future. That is the essence of the Greater Fool Theory. Eulogy made by Jeffrey Smith Source