Post
Topic
Board Speculation
Re: If you're not out, get out.
by
Nagle
on 17/10/2011, 18:49:23 UTC

Bitcoin/USD, last 4 months. Any questions?

I'm the original poster in this topic. I called the collapse of Bitcoin on June 11, 2011.  I wrote "Bitcoin, the new "digital currency", looks like a Ponzi scheme. Only Ponzi schemes chart like that. When Ponzi schemes crash, they crash fast, and they crash all the way." "There's no revenue model here. All growth comes only from new investors. This is a bubble in its pure form."

It's been all downhill since then. The price was $17 then. It's dropped $4 per month for the last four months.  It's at $2.52 now.

Our criterion for "Dead" on Downside was when the price was off 90% from the high. Bitcoin is now dead.

We warned you. You didn't listen.

If you have substantial cash in an exchange, get it out now. We're going to find out quite soon which exchanges have all the customer's cash and which don't.