Why bitcoin may soon be worth nothing:
I thought wed finally get rid of bitcoin. But the fake currency, which I like to call bitcon, just wont fade away.
Bitcoins 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 its backed by nothing or no one. Its a confidence game that has value only because people are convincing other people that its worth something.
I thought wed finally get rid of bitcoin. But the fake currency, which I like to call bitcon, just wont fade away.
Bitcoins 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 its backed by nothing or no one. Its a confidence game that has value only because people are convincing other people that its worth something.
that is all?
you did not use convincing arguments and you do not show some basis for this very serious charge, you are making a very serious charge and you do not show convincing evidence. No one will take you seriously and about bitcoin is not worth anything, you are wrong, In the future bitcoin will be worth much more, there are many countries and people that will use bitcoin.
Ponzi scheme. Fraud.
Proof?
I think you didn't quite understand the OP. These are the exact words of John Crudele, a NY Post columnist. OP only quoted the text from the NY Post article. The journalist obviously holds a grudge against Bitcoin and this 'article' is nothing more than a personal attack. Objective journalism has turned into subjective one
