Post
Topic
Board Speculation
Why Bitcoin May Soon Be Worth Nothing
by
alexey14
on 05/07/2018, 18:25:40 UTC
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 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:

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/