Why bitcoin may soon be worth nothing

theqlogic87 said:

HAHAHAHA Bitcoin going to zero? What year is this 2014? The amount of times i've seen this crap.........

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LOL, IKR

the topic is evergreen and there are always reader interested to know more about bitcoin, so everyone write whatever they think of without any base or calculation. No doubt, its a perceived value but its worth having it if you have a high risk appetite

COIN MARKET will never die. But still there is no way to easy and anonymous payments. Telegram is working on a solution, but it is not also anonymous completely. But in the future, this problems will be solved.

One day, you may see prices like 100$ for BITCOIN.

All other cryptocurrency are falling rapidly near zero

darkblitzrc said:

I believe bitcoin has a limit and that limit was reached back last year when it topped at 19k or whatever. Now the hype has died down and its just a matter of years until it stabilizes.

Jesus I'm so SMART

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The next bull run will come because of adoption and not hype. 19k cant be the limit, nor 190k...

STOCKCAT said:

COIN MARKET will never die. But still there is no way to easy and anonymous payments. Telegram is working on a solution, but it is not also anonymous completely. But in the future, this problems will be solved.

One day, you may see prices like 100$ for BITCOIN.

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There is a way for anonymous btc payments. Its called Breeze wallet, but its is not easy.

No one trust me on this, BTC is one big ass scam of this century

Nut-Nights said:

No one trust me on this, BTC is one big ass scam of this century

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Its not a scam, most people who bought BTC don't even know what it is used for. They thought it was a get-rich-quick scheme and jumped into the bandwagon without knowing shit.

What results is too much supply and low demand, and now the ratio is slowly scaling down until demand increases and supply goes back down from people who have no idea what BTC, or rather cryptocurrency really is.

It is worth adding that if cryptocurrencies fall, probably someone will put their private cryptocurrencies Someone will come with authority and seize the market.

It reminds me of the Tulip Mania, where in no times the price of one bulb have reached 1000 florins (Some 6000 Florins), at that time a skilled laborer might earn 150–350 florins a year, so the bubble quickly burst leaving people with nothing.

Bitcoin - Useless, worthless.

Cryptocurrency - Now this is the real deal, this is open to inventions, upgrades, solutions, efficiency.

Let me just emphasise the last word, efficiency. The one word that every company today is built on and embraces, with efficiency comes money. There is no hiding from that, if a crpytocurrency provides efficiency for a sector, it has value, it is that simple.

Humans have evolved to hate change, it's nothing new that people dont like an internet currency, but the truth is, the world is becoming digital, and currency needs to make that transition, it is happening and it will be succesful. There are too many Intelligent investors for it not to happen. Sure people are abusing the market now, but wait until it gets regulated, that's is when the big boys are coming in.

The real issue is, everyone buys bitcoin hoping to make money, the smart money will go into the Altcoins with real value. Stay away from bitcoin, it is obsolete and will die sooner or later. Dont stick with it because you hate change.

m7610614 said:

It reminds me of the Tulip Mania, where in no times the price of one bulb have reached 1000 florins (Some 6000 Florins), at that time a skilled laborer might earn 150–350 florins a year, so the bubble quickly burst leaving people with nothing.

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Tulip mania is different, Tulips held no solution to any problems, they were only for appearance and trends.

Cryptocurrency solves problems, and that creates value.

The two are completely different and should never be compared. Except for when people are convincing herself it is a bubble. Let me emphasise this, it is not a bubble at the moment, it was never a bubble, it was being manipulated.

It seems to me that cryptocurrencies will not fall quickly, because there is still demand and interest. The only problem is that the fashion goes by ...

ahah, it’s not a scam of course but I doubt the price of BTH will be so high forever as it is other altcoins eventually gonna take top places in future – ETH, MGO…they have a better feedback I think for example MobileGo (which is responsible for MGO) is collaborating with Xsolla. the news like this seems to me promising. but what new and serious can we say of bitcoin?

as bitcoin is decentralized currency its impossible to stop it so, by my point of view its make no sense to say it will be spoil .... but you can call it freedom of speech

I've been using bitcoin since 2011. There was a time bitcoin reach $12 then to go back to $1. Most people said bitcoin is dead. Seven years later..... People still saying same thing yet the current price is $6,600.

When people started saying bitcoin is dead. That is the right time to invest.

Sorry folks Bitcoin will be here to stay. Because it solves many problems. Bitcoin is yet to start. Even one percent of the world uses bitcoin the prices could be minimum $500,000 per bitcoin. Bitcoin is not a finished product, it is still evolving. Those bitcoin weakness will be solve soon.

The market is going to do what the market is going to do, I'm excited to see where it takes us.

You have at least 2 problems working against you mining bitcoin

Electricity cost

https://blog.cesco.com/blog/bitcoin-mining-costs-per-state

Note the current electricity costs. In some states bitcoin miners are already losing money according to the chart.

But wait, there's more.

Those are commercial costs for commercial customers. You and I don't get that.

Example - Florida - your cost is 10 cents a KWH, but the business miner only pays 5 cents a KWH

So a person without a commercial rate pays twice what the chart says.

But wait, there's more.

Bitcoin mining machines are computers.
Computers are made of chips.
Chips are just fancy heaters. Electricity in. Heat out.

For every kilowatt hour burned, it takes AT LEAST 1 KHW to cool the computer.

That is not counting the solar gain from the sun cooking the building

The cooling costs are not included in calculations. Read the article. Those engineers merely multiplied a few numbers to get the costs from mining due to power consumption. THEY NEGLECTED COOLING AND BUILDING LOSSES (cooling is never 100% efficient. It might take 1.5 to 2.0 or more KHW to cool 1 KWH of power.

So the entire calculations are scams. The bitcoin "world" is a scam.

96% of bitcoins are owned by 4% of the addresses.

It isn't a whale. It is a MONOPOLY. Controlled and manipulated.

It was never about the few hundred billion in bitcoins.

It was about the CASINO or futures, ETF's, Options and other ways to BET ON the coins.

Those owners can extract TRILLIONS in the next few years by controlling the casino and letting the rubes place bets thinking they are "investing".

Of course they are. Just like they invest at the Luxor Casino in Vegas.

Now you understand the Mysterious Secrets of Bitcoin™.

Best regards,

The Eye

It was never about the few hundred billion in bitcoins.

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@theeyeinside, Currently there are only 17 million bitcoins in circulation and There are only 21 million bitcoins total.

It still worth $6000 though last few years it only worth few cent/dollars