Why bitcoin may soon be worth nothing

You're all looking in the wrong place to see the near-future of crypto. The power all lies with the US president. Trump is extremely hard to read.. so there are no definitive answers yet.

His close adviser Steve Bannon (who's a somewhat shady character) is very pro-crypto and BTC.

The thing is, Trump doesn't listen to his advisers and so far I haven't heard him talk about bitcoin. We can look to U.S. Treasury Secretary Steven Mnuchin and see he's very into regulating bitcoin.

The federal reserve is considering their own crypto, along with many other shady orgs and globalist entities.

Personally, my instinct is that crypto is a very dangerous trap that will financially enslave the world even more than we already are. Going back to a gold based fiat currency and abolishing the fed is the best option.
 
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Crypto isn't going nowhere. Too much money tied up into it. Too many powerful figures already lurking in it.

What i do see though.. now that the world's caught on and it's being regulated more and government 'watched' more.. there will be less and less 'leaps' to great fortune because people have no reason. The benefits before were massive.
 
apex1 said:
Trump is extremely hard to read..
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Haha, no, I'd say the opposite. It's only hard if you're not looking. But that's as far as I'll comment so that it doesn't turn political.

His close adviser Steve Bannon (who's a somewhat shady character) is very pro-crypto and BTC.
Click to expand...

Fired, been a while now. See my point regarding "not looking"?
 
Trump has nothing to say.US already passed bills which declared the future of crypto.People are just not looking at it as it was nowhere advertised else people would relealse bitcoin has to fail at the end
 
BassTrackerBoats said:
This article has about the same amount of substance to back up his opinion as the ones on many sites that claim that BTC will be worth <insert random made up super $ amount> and goes to show you that there are those on both sides of the BTC value that just espouse speculative value to espouse speculative value.

Why bitcoin may soon be worth nothing
​
I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away.

Bitcoin’s price rallied to over $6,600 yesterday, but it had been well under $6,000 last week. Even at $6,600, bitcoin is still worth 70 percent less than it was at the beginning of the year.

I use the term “worth” cautiously because bitcoin is really worth nothing, since it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.

Got it! Ponzi scheme. Confidence game. Fraud.

Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.

Source: https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/
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I see your problem and why you are wrong. Your are reading from Nypost which i hear from some of you American's that it's your fake news central. You shourl read from real sources that you would know it will not be zero.
 
TeslaFan said:
I see your problem and why you are wrong. Your are reading from Nypost which i hear from some of you American's that it's your fake news central. You shourl read from real sources that you would know it will not be zero.
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I'm not an American.

I just live there.

I do read the Post as well as a dozen or so other news sites so my problem is probably much deeper than just that I read that site.

Send help to combat both issues as soon as possible. TIA.
 
TeslaFan said:
I see your problem and why you are wrong. Your are reading from Nypost which i hear from some of you American's that it's your fake news central. You shourl read from real sources that you would know it will not be zero.
Click to expand...

Whereas your info comes from where exactly? Redit? Facebook? Gurus who preach numbers but are broke as fuck? Internet forums? The people who were screaming and shouting Bitcoin 40k by Feb 2018? Bitcoin 100k by the end of 2018? Do enlighten us all on where your credible info comes from. Cause all I see is clueless kids shouting the odds on a subject they clearly know absolutely fuck all about.
 
I believe BTC will rise once more, right now is in anti climax phase because too many newbie without knowledge, do panic sell.
When?? after it reach stable value...
 
Hopeful that bitcoin will rise enough so that people who bought at its peak can cash out!
 
That source link speculation is more ponzy scheme than the actual topic.Look on youtube NBA,theres new speculations everyday,even tho nobody knows which players goes where people predicting everyday stuff that usually dont even happen.This is same,bigger topic to attract attention,this your post brought them who knows how many visitors,its marketing.A hot topic.Comparable to identical 2000 topic that earth with magically explode.In 98 probably kids in india even heard about world ending at 2000.Long story short,it has been going up and going down.And it is supposed to be like it.It is part of the game,its crypto,its same as stocks.Movement creates movement,if it would sit at same rate there wouldnt be fun.When I used btc it was like 200 or 300$ for one.Now it is 6k and people complain about it going down to 5-4-3k? COME ON.it can go down to 500 and raise to 30k next year,it is same talk as chicken or egg first? A gossip for websites such as that to attract readers.BTC will be alive for 2000 more years,but prices will change,but they are supposed to change lol because its crypto.
 
I would like to stop you from spreading the rumors about the Bitcoin as it is not going to crash at all. It is a business which most of the people want to do regardless of so many bans, issues, and bla bla. How can such a business worth nothing soon as far as you think?
 
Wwider said:
I would like to stop you from spreading the rumors about the Bitcoin as it is not going to crash at all. It is a business which most of the people want to do regardless of so many bans, issues, and bla bla. How can such a business worth nothing soon as far as you think?
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You'll need to tell that to the NY Post as that is their article.

Here is all their contact information:

Code: 
https://nypost.com/contact/

Pick whichever works best for you to complain about them spreading rumors.
 
You're right, Bitcoin has nothing backing it up, but it sure as hell isn't a Ponzi scheme. Bitcoin acts as a store of wealth for millions around the world, mostly businessmen and politicians who are trying to hide their ill-gotten gains.

Bitcoin helps surpass that various challenges associated with international remittances, with a simple clear-cut solution. This is the confidence and utility that Bitcoin possesses, and this is where it derives its strength from.

As you said, Bitcoin maybe overvalued and there might be price corrections in the future, but it's surely not going to be "Worth Nothing". Presently, the biggest hurdle for Bitcoin's dominance is the ever-increasing transaction costs, once that's rectified, there is nowhere to go but up!
 
*IMPORTANT MESSAGE*

Bitcoin ETFs

I wasn't sure I would go forward with this, but I feel a moral and ethical obligation to. And while this is really going to upset and possibly enrage the close friends I have who work in some of the larger named Investment Banks on Wall Street, I want to share this with everyone I can reach in the crypto space and let the chips fall where they may. Here's the deal:

The market has done a great job of convincing everyone the Bitcoin ETFs are the end-all be-all for crypto growth. (They're not. At all.)

But they want you to believe this to get the prices down really really low for Wall Street. And everyone seems to be playing right into their propaganda. Realize that Bitcoin ETF's have been applied for and denied going back the last 5 years.

With our recent run testing a $1 Trillion crypto market cap, Wall Street woke up and realized holy hell there is actually a ton of money to be made in this space and it has barely begun. But they missed the boat! So they want in, cheap; Convince everyone these ETF proposals are paramount for the market to ever go up again. (What a joke!). Realize the most likely scenario is these Bitcoin ETFs will not be approved at all this year until early or late next year; all the while using each delay and denial to further drive down the price of BTC. We can stop this if we stop giving credence to their propaganda that is the importance of the ETFs.

Clearly the ETF Proposals are clouding the crypto space to the point it is absurd and ridiculous -- you see it, I see it, and yet we are all playing into it and spreading their manipulative message. Entirely too much focus is being placed on the ETFs.

What everyone needs to be focused on is the technology and adoption. Stay focused on the technology and adoption of crypto, it's what got the market to nearly $1 Trillion already, and let's all let the ETFs do whatever they're going to do.

If we can get everyone on the same page here (and if we work together we can) Bitcoin will brush off the ETF bull shiitake and the crypto market will continue to grow massively with the awesome developments in the crypto space. Do not give Wall Street the pleasure of seeing you Tweet, Post, YouTube, etc anything having to do with the ETFs. Just stop. Let's bring it to a full stop my crypto friends.

Will you do your part to help the crypto community get back on track with focusing on what really matters -- the technology and adoption. Shine the light on this important message and share it with all. Thanks in advance.

Together we are unstoppable.
Very Respectfully,
@Jeff_Knight on TG
 
@pm_money thanks a lot for sharin, that's exactly what i was talkin abt with my friends around but now it's make me think maybe this guy want to fool us? :P ehh this world of lies! :P
 
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