Ladies and Gentlemen, i present the obvious Death of Bitcoin. Many expected this moment coming and now it's there. After the next smooth journey to moon, or the next journey to let's say $5,000, $7,000 $10,000 (?) the bitcoin will die a sudden death (and with it many more). This will be the point where greed will win over reason, being the moment all the world will see the bitcoin fail within the next few months. Probably in November or December, just my guess. Hundreds of families who invested all their family savings in asia will be ruined including all the casinos, shops and investors will suffer, how bad. Will you be in the next journey to moon? This is a game with fire now. Yes, many have said that before but now it's serious. Why? Just look at the price dude. You're moving millions and millions of dollars around, what the heck are you even doing? When it comes down to it, dollars are all that count. Grounding will be hard, i predict a price lock under 1000, maybe 300. After the future of the coin is at stake, it will reveal that it is unsuitable for practical things like fast payment without third party provider and mining is a waste of ressources, other, newer, commercial blockchain developments will take the place and the hype will be vanish in unimportance where it came from. Furthermore all the inside trades which eat themself up in all their greed will reveal, some exchanges had already to leave, you know, and still big players make the market. I don't want to be part in this no matter the winnings. Have fun. However, if you look in the order book selling 1 satoshi for 1 million dollar, thats probably me. See you on the moon.
TOTALLY WRONG, Crypto is future, is like when dollar came strong after 1º and 2º war, banks started making money out of nothing and the money became more dependent from country stability. Crypto is going to be free of that when the global economy falls, you can't say that from a new version of economy, your are the banks that doesn't accept the change because don't wanna loose I don't know what. Crypto is the future for better distribution of money and thats why rich people don't want it because more people will be able to make money out of nothing just like them =). If you wanna be paying your houses at double or triple price please lose your faith in crypto and give capitalism more power. If you want an economic revolution be a good trader and dont listen this the time will say not a person or persons. PD this revolution is unstoppable the prices are crazy but we are just in the beginning
majic92
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@FernandoMocer, yu said bullshit crypto is dependent of FIAT, if Fiat market crash crypto will follow, because bitcoin is mainstream crypto,exchange have take controle of bitcoin, yu have need cash monnaie for buy bitcoin it's whales crypto, sorry but it will fail soon.
majic92
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@majic92, but i want not be against bitcoin and all crypto, I was part of first adopters, i see évolution of crypto now i think is no good because it is just speculation market, Investors have lost the reason and pump this thing as soda, there is clear manipulation of exchange on the price, decentralization is not under way kill mainstream, is mainstream which kill decentralization, technically bitcoin will never replace a gold nugget...think there ;)
FernandoMocer
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Not bit coin but block change is the future in time we will see
mhmilo24
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@majic92, bitcoin is already a substitute for fiat money in venezuela. and their currency has been crashin for quite a long time.
ravikb786
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complete wrong analysis... may be you are new to crypto...
thetazeta
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Nothing new or original here. The hacks and paid shills at the Financial Times and other establishment-backed PR efforts have been reiterating this nonsense in spite of facts to the contrary for years. Here's a chronicle of some of those efforts:
let me complete the argumentation list from the sceptic newspaper author:
- after the split in fact the bitcoin price had to decrease by 300 dollars, instead it skyrocketed
- money is becoming more and more from nothing, a thing that is only possible in the crypto scene
- the split didnt solve the scaling problem at all
- the amount of bitcoins is limited, currently there are 16.5 million, in reality it should be much less due to lost BTC
- mining goes slower and slower
- only an extreme small amout of players own the majority of bitcoins
- it is absurd to pay money for a crypto key its not really worth anything
- bitcoin is not legitimated for payment and might be forbidden in several countries
- the currency and other altcoins are just subject to speculations
- the price in the exchanges is increasing from always new and new speculations itself on a higher price level
- South Sea Bubble Reloaded, there are even playing cards for bitcoin which had already existed in a bubble in the 18th century
- even experts say altcoins are practically useless, most of them have reached a value no one can really explain and are highly absurd
- sooner or later one of the bitcoin millionaires want to see dollars which will flood the markets and kill the price
- there are companies e.g. stocks emerging that have a similar price development than bitcoins no serious bank investor would touch it
- there are no fundamental data for the investment
- it is amazing that the price can hold itself at such a high level at such a high value, where are the investors that take cash
- there is a lot of scam business emerging around bitcoin, even in the financial sector
his conclusion:
- 45% of the bitcoins are owned by about 1000 people
- the identity of the founder is not really clear, it is believed he himself could own a big amount of the bitcoins
- reason for a crash could be a ban of crypto curriencies in any country which effect many businesses around it
thats all i could find, maybe there was more but that's the main points
@mozartc, yeah might be, i've read an increasing number of these kind of pessmistic comments lately. in fact no one saw this price development coming (except a few days before). howerver, uncertainty is always bad, and in one thing he's right, the price increase came relatively unexpected.