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Old 12-14-2018, 10:56 PM
 
Location: US
17,001 posts, read 16,597,168 times
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bitcoin is falling because there is no demand for it. it's too volatile to use in real life. established currency changes very little and slowly. bitcoin can be worth $20k one day and $6k a week later. how do you price anything with something so volatile. most of the people who got really into bitcoin were those who don't know anything about investments and simply wanted to get rich fast (or at least had that mindset).
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Old 12-14-2018, 11:03 PM
 
Location: Manchester NH
7,333 posts, read 1,982,034 times
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Quote:
Originally Posted by bmw335xi View Post
bitcoin is falling because there is no demand for it. it's too volatile to use in real life. established currency changes very little and slowly. bitcoin can be worth $20k one day and $6k a week later. how do you price anything with something so volatile. most of the people who got really into bitcoin were those who don't know anything about investments and simply wanted to get rich fast (or at least had that mindset).
Thank you, this is the best post I've read so far.

Value based pricing systems that are inflated by investment cannot operate via a currency that follows the same rules.
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Old 12-14-2018, 11:22 PM
 
7,456 posts, read 8,301,106 times
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Quote:
Originally Posted by cisco kid View Post
What killed crypto is the exchanges that were constantly getting hacked into and losing millions of dollars worth of customers funds as a result. Many other exchanges were simply ripping people off outright. That is probably what killed bitcoin more than anything. Most were shady and could not be trusted.

The relentless, non-stop media attacks on bitcoin didn't help either.
When 99% of mainstream reporting on bitcoin was negative, naturally
people will be scared to put money into it (I certainly was).
A couple of jokers here in Dallas were convicted last week scamming millions via bitcoin fraud.
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Old 12-15-2018, 02:26 PM
 
Location: The Ozone Layer, apparently...
1,667 posts, read 534,121 times
Reputation: 3216
"Bitcoin is a fraud that will ultimately blow up, according to JP Morgan boss Jamie Dimon, who said the digital currency was only fit for use by drug dealers, murderers and people living in places such as North Korea."


I think it took off initially because a lot of people were talking good about it; and, if it is indeed dead, that is because the court of public opinion has been influenced in the other direction.

TBH, I never trusted it to begin with, and in a world where enough crime is committed using recognized and tangible currency it is hard to have faith in virtual currency.
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Old Yesterday, 09:09 AM
 
5,745 posts, read 4,327,976 times
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Bitcoin is a form of money. Each country maintains the right to issue money. A couple of major countries need to ban Bitcoin. That will end the nonsense quickly.
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Old Yesterday, 09:25 AM
 
Location: Manchester NH
7,333 posts, read 1,982,034 times
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Quote:
Originally Posted by jrkliny View Post
Bitcoin is a form of money. Each country maintains the right to issue money. A couple of major countries need to ban Bitcoin. That will end the nonsense quickly.
Crypto currency in general will never be a replacement for state money.
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Old Yesterday, 10:21 AM
 
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It does not have to be a complete replacement. As long as it serves to function for some of the uses of money, countries might want to ban it. Once that starts in a meaningful way, it will be like a snowball rolling downhill. That will be the end of crypto currencies.
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Old Yesterday, 10:25 AM
 
9,425 posts, read 3,946,200 times
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Bit coin isn't real, no different than world or Warcraft get goin
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Old Yesterday, 01:50 PM
 
2,268 posts, read 1,223,008 times
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It's a math problem with a large but limited set of answers

An easily substituted math problem which is why there are tons of different crypto options.

It's an electronic tulip.

The technology has its uses but not as an asset class or currency
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Old Yesterday, 02:07 PM
 
3,904 posts, read 2,143,180 times
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Any accepted currency will have to require centralized regulation for wide acceptance to happen. This was doomed from the start; although in theory the idea is idealistic.
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