Why bitcoin may soon be worth nothing

I don't think bitcoin is going to die. It will always be known as the first crypto and will continue to lead the entire crypto market. As for the whole cryptomarket We'll probably see we'll probably see 10-20 trillion market cap in a few years from now.

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
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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 used to hate people like you. Until I lost 20 grand because I didn't put a stop loss. I was blinded by the fast money. Never again!

The U.S. dollar is also backed by essentially nothing

lol its funny because the fiat notes we use on a daily basis are not backed by anything, they were originally made to represent gold and a way for people to carry and spend their money without hiking around with a sack full of gold, But there's no longer gold backing our currencies so its just numbers the fat cats make up and print however many notes they want...BUT because we all use fiat cash without question it holds value...

NOW bitcoin on the other hand, you cant make up numbers there's only a certain amount in curculation, blah blah blah, if you read up on how the blockchain works you'll see what i mean...Either way long story short im not a bitcoin/crypto guru who hypes about crypto's, but one thing i can tell you is its a revolutionary technology that hasnt even been fully adopted by the public yet let alone big businesses and once it does the price of a single coin will be crazy!...i wont put a date on it like others, but its inevitable!!!

high mike said:

I used to hate people like you. Until I lost 20 grand because I didn't put a stop loss. I was blinded by the fast money. Never again!

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All I am doing here is sharing a news story but I did make some comments a while back about getting out of BTC and why I did. Several different people did the same around that time and we have chatted a bit about being fortunate to have seen the opportunity not being an opportunity any longer.

But, it's cool to hate me still... no ill feelings at all if you want to from my end.

high mike said:

I used to hate people like you. Until I lost 20 grand because I didn't put a stop loss. I was blinded by the fast money. Never again!

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mine from 12m down to few hundred k.

have no idea why i dint sell before the bubble burst. even though i know it will happen
greed

BassTrackerBoats said:

All I am doing here is sharing a news story but I did make some comments a while back about getting out of BTC and why I did. Several different people did the same around that time and we have chatted a bit about being fortunate to have seen the opportunity not being an opportunity any longer.

But, it's cool to hate me still... no ill feelings at all if you want to from my end.

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lololol it was all fun and games hate is a strong word! I rephrase to "i used to Disagree with people like you" now i agree

high mike said:

lololol it was all fun and games hate is a strong word! I rephrase to "i used to Disagree with people like you" now i agree

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We're good... I knew it was just banter.

BTC always will be worth something coz always will be people who want to buy bitcoin

I don’t even know what to do to crash Bitcoin and the entire cryptocurrency with it. Unless it will be banned in all countries of the world. We have already seen Bitcoin at 20+ bucks and I think that it’s not the limit.

Guess I'm glad I sold at $17,500. lol. I was kinda getting angry though when it hit 19k.

I had a significant ammount of bitcoins.. I wanna get back in, but idk where the bottom is. Seems to be stable in this 6k range?