Bitcoin is a false truth, warns analyst

konfab

Honorary Master
Joined
Jun 23, 2008
Messages
23,503
It will eventually burst. If you, as an "investor" don't see that and plan for it, you are an idiot.
 

SlinkyMike

Executive Member
Joined
Jan 23, 2006
Messages
6,202
It is not in the interest of a PM to promote investment in cryptocurrency so take it from whence it comes.
 

Lord Farquart

Expert Member
Joined
Nov 27, 2012
Messages
4,721
Analyst did not invest in Bitcoin is my guess. Not a good analyst to not have predicted it.:D
 

Temujin

Executive Member
Joined
Apr 18, 2015
Messages
8,201
Cellphones are a false truth, we already have landlines and pay phones
The internet is a fad, we already have encyclopedias
Email, pfft, we have post office and fax machines
 

CataclysmZA

Expert Member
Joined
Apr 1, 2010
Messages
4,526
Jean Pierre Verster, portfolio manager at Fairtree Capital, has warned that Bitcoin is in bubble territory and he will not invest in the cryptocurrency.
So we can agree that he's super-salty then, right?
 

Bobbin

Executive Member
Joined
Oct 22, 2009
Messages
6,984
[video=youtube;FsnZZYUEwD0]https://www.youtube.com/watch?v=FsnZZYUEwD0[/video]

Bitcoin! AHAHAHAHA! :p
 

satanboy

Psychonaut seven
Joined
Sep 13, 2007
Messages
98,795
This thread is useless without comments by Thor and Knyro.
 

Shaun108

Executive Member
Joined
May 11, 2009
Messages
8,541
Im glad I bought a lot of coins back when it was a hundred rand or so each.

/goes off to make a huge Bitcoin bling necklace.
 

ajan

Senior Member
Joined
Jun 18, 2012
Messages
579
"The cost of generating more bitcoin vs electricity cost of generating them has gone out of whack, and is partly why the fork has happened"

Yea, no need to go on.

Also Koeks whats your reasoning for core ruining btc?
 

Mister 44

Executive Member
Joined
Nov 10, 2011
Messages
5,763
A few days ago, the value of all the bitcoins in the world blew past $1 billion for the first time ever. That’s an impressive achievement, for a purely virtual currency backed by no central bank or other authority. It’s also temporary: we’re in the middle of a bitcoin bubble right now, and it’s only a matter of time before the bubble bursts.
There are a couple of reasons why the bubble is sure to burst. The first is just that it’s a bubble, and any chart which looks like the one at the top of this post is bound to end in tears at some point. But there’s a deeper reason, too — which is that bitcoins are an uncomfortable combination of commodity and currency. The commodity value of bitcoins is rooted in their currency value, but the more of a commodity they become, the less useful they are as a currency.
https://medium.com/@felixsalmon/the-bitcoin-bubble-and-the-future-of-currency-2b5ef79482cb

The above are the opening paragraphs of an article about the Bitcoin price bubble. It's from Apr 3, 2013.

Point is: Bitcoin's been accused of being in a bubble each time the price goes up and when the price drops because of profit taking, the analyst look smug and say "I told you so".
And then Bitcoin gets back up and rises to new records at which time the cycle repeats.

Even so, I still won't suggest moving your retirement savings into it.
 
Top