Bitcoin Forum

Hello dear fellows,

I'm an economist and I just want to give you a head up to sell all your coins before they get worthless.
Including Bitcoins.

Today there are over 750 cryptocoins in existence.
Because literally anyone, any team of people can design and create their own coins. Very easily with all the open source codes available.

So, if anyone can create any amount of their own coins.
Guess what the value of that coin will be on the market?
0.
It's value is zero.
It's literally worth less than water or the air you're breathing.

Once people start to realize this, that the coins have no realistic valuation, each and every single one of every coin will be worth NADA. 0. ZERO. NOTHING.
Enjoy the ride while it last, and get out fast.

Regards

i hope you will think twice before post about this,,
if you are really an economist you will see a good future of cryptocurrency especially bitcoin,,
with limited supply and blockchain tech that have so many excess.
as i know, the supply and demands always be the 1st rule on economic law

And I guess this economic 'analysis' is based on you thorougly investigating the underlying technologies that a lot of coins/tokens provide? While you are right in your statement that literally anyone with a keyboard can create a coin/token and sell it on the market the claim that every project is worth less than air is bogus.

Yes it is true that everyone can create their own coin, but will the coin as successful as bitcoin?
Bitcoin can become successful because there are demands and supply, there are people agree that bitcoin can be used for payment token, if you create your own coin and it is not being accepted then your coin doesn't has any values, so that is the reason there are alt coins with no value, as long as people can do transaction with bitcoin then bitcoin won't die

This is the problem yes, but thats why some people call others shitcoins, bitcoin was the first one and it will die last if they go down. I can imagine a scenario of bitcoin dumping so hard , but it will raise. Its price won't just be 0 - zero, as there are lots supporters and people are in need for something like bitcoin. If it fails something new will replace it like Bitcoin version 2 or something. But the idea of it won't die.

The coins represent technology that makes most bank-operations obsolete.
How can that be worth zero?
We have a need for money. The coins fulfill that desire. That is worth zero?


The coins represent true money, that are not counterfeit-able. Regular fiat can be printed at will, which is the same as counterfeiting, except it an central authority that does it.

Besides, in the regular banking system, banks can lend out 10 times more money than they have. Value is created from thin air.
So I guess that is worth zero as well.

But with crypto-coins, there are no bank-holidays, bailouts, bailins and counterfeiting.

Good luck "economist".
 

lol tell me more about this, nostradamus, are you just trying to buy cheap coin like many other did in the past? this trick don't work anymore mate, and what yous ay about creating additional coin doesn't have anything to do with the value of other coin, a coin is worth what everyone is willing to pay for it, bitcoin is the strongest and will not go away anytime soon

hahaha, do you really think no one has thought this through? it's obvious many cryptocurrencies don't have a real application, just like most of what you wrote... as an "economist", you must be living in the 1950's, have no concept of technology, and lack the clarity to connect the dots.

Another newbie not knowing the differance of POW (proof of work) and POS (proof of stake).
Most coins also have a fixed limit of coins (exceptions, Doge, Infinity, Ethereum, Ethereum Classic..........)
As an Economist you also know a thing or two about inflation.

thanks. just sold everything. give me your bank details and i'll send you a tip. it's lucky we finally got an economist arriving here.

BEST troll of the month, thumbs up !

Lols, a newbie account. Trolling to sell all our bitcoins? ALL people are telling Bitcoin is a junk, a waste of time in the year 2010,2011, 2012, 2013.. Now Bitcoin is already $2500 surpassing some great assets like Gold..

Why don't you use the real account? And it looks better for all. But thanks for your awareness. If there will demand in the future and I think the majority of the coin (I mean token for some assets form) will be worthless in the future.
Just sell all of your coins and give me a prove will be better, dude.
I may think to buy your coin on the cheap price of i can.

Total troll. If you understood the technology you wouldn't even be posting this. Guess what ' Mr. Economist" depending on need and function over time there may even be thousands or hundreds of thousands of "coins"

The value of CryptoCoins comes from people who invest in them.
Bitcoin will continue to rise, and most of the altCoins will also rise, because people keep buying them, and will continue to do so.

If anything dump Fiat Currency like the dollar... it's not backed by anything.

as one starts realize this, more than two others begin buying coins. Simply like this but it's the way how it works.

Altcoins did ride on bitcoin's boom to come where they are today, as traders converted cash from bitcoin's price rise to multiply their profits with altcoins. It wouldn't be too unlikely to see major price falls for alts when the rally ends but I don't think that'd be the case with bitcoin.

It is only worthless if people doesn't find a use for it. Once it covers a necessity or offers a solution to a problem then it has value, then comes offer and demand. This is economy 101

Carebear-would-be-professor has no idea about coins, no idea about money and no idea about economy. Boring, next!

Those who have never hold any Bitcoin or any other coin are telling all of us to sell ours.? Ok..
I think you are just jealous of others who are holding their coins and will be financially stable in the future.

I don't understand the purpose of this warning and i disagree with you. Right now, the market cap of coins is  $92.522.281.310. Do you believe all of these money will pull out of the market ? I dont think so.

Nothing in this world has actual value. Something has value if enough people say it has value. The more people say it has value the more people will believe it. Cryptocurrency are as risky as shares or common currency. Apple and Google stock are not valued by what they are actually worth, the stock is worth what people believe it's worth (if nobody will buy Apple products anymore, nobody will believe Apple is something worth unless Apple says they have something 'amazing' coming, an idea they fuel every year). As long as people want to believe it has value, it will have value. So to all cryptofreaks on this forum. Who are you believing, an economist who still thinks value is backed by something or do you think value is a pure psychological phenomenon.

Opps and also paper don't have value  it's only a paper that have face of a hero lol. The price of each coin is determined depends on the adoption supply demand and the use of each coin if no one want to use that coin and no one interested to buy it's totally dead.

Excepting the truth that at some level nothing really has value unless you want A BRICK and I have A BRICK or you want a prune because you are stopped up and I have a prune which I will trade to you to unstop you nothing has value. Dollars, gold, gold plated latinum, wampum - all an agreed upon construct by our cultures.
Now, let's talk about planet earth where we all live.
Specifically ALTcoins. I am NOT an expert but I work with some pretty smart cookies who are expert and are working to create a paradigm shift in in what currency means. Most new tech starts either with applications for the military or pornography space and then migrates into more mainstream use cases.
Same with ALTCOINS. We started out with many ALTcoins that had somewhat spurious purposes (Has anybody seen Ricky on Trailerpark Boys sell hashcoins? I’ve wondered if that was them tipping their hat to the altcoin industry.) Now we are getting coins that have some wonderful use cases. There are excellent minds looking at this.
Look at AICOIN.IO. Look at chronobank.io. Look at Quantum Resistant Ledger. Not sure if that will pop, but what an idea!
Will all of these maintain or appreciate in value? Unlikely. But if you look at the currency of any country and that includes the US Dollar, its all pretty much a crap shoot there as well.
So shame on you for stating that silly, unfounded and broad generalisation. It is a complex question and not possible to state with such certainty – ALL COINS VALUELESS.
Poppycock!
(That’s a funny word. Poppycock.)

"Economist" LOL. If you use the theory with banking industry may be work. But this tech that soon replace fiat, and soon banks will colapse. If you work in a bank you'd better quit the job and invest or work for cryptocoins . You will make a lot of profit.

Some people will of course believe in the cryptocoins anyway, regardless of the fact that they are worthless.
Just like people believe in santa claus or god.

But please, take my word for it, this is a bubble and when it pops it goes down very fast.
Have a plan with stop-loss that triggers automatically - not IF - but WHEN the market fails you.

I made alot of money from bitcoin.
Not because i believed in them or bought them, I'm a computer nerd so I just happened to have them since 2013.

I've sold it all now.

This is not good time to warn people.
We just started mainstream crypto phase. Its too early to see them become worthless.
It will have lot more demand in 10 coming years. You'll see.

When should I warn my fellow computer nerds?
When its to late?

Ok mr satan.

Also, normal currencies like USD and EUR are also worthless.
Buy real stuff, sell your coins and buy silver and gold, apartments, houses etc.

I don't believe you're an economist--and appealing to credentials is foolish anyway--but I don't disagree that there are way too many coins in existence and that most will end up as worthless.   I've been saying that myself for some time now.  Unless demand takes off, nobody is going to be using anything other than bitcoin, litecoin, and a small handful of others.   The rest of the shitcoins don't stand a chance.

In Economics, what create value for an asset is the force of demand for it. Coins are not being louche for creations sake but for a purpose of  solving a particular problem in our society. Suncontact was created to solve energy problem for example.

How is a digital coin going to solve energy problems?

There is just too many coins.

Looks like he's going to be a joke on this forum, because I think he's misplaced to talk like that here, because this is a Bitcoin and Altcoin forum that turns all your expectations into reality, maybe you should have a longer thinking before you Create a thread and Posts like that.

Well at least your honest that your talking your trading book rather than your economics book.

Tip: A bearer token that can find a buyer in New Zealand for a Seller in Alaska AND allow them to take delivery within 20 minutes isn't going to  loose its value anytime soon.

Money per se is based on a belief system since the gold standard was abolished.
Fiat money, a piece paper, is not worth $100 in terms of its material value.

A cryptocurrency has value if people believe it does. Bitcoin has value because a growing number of retailers accept it as payment. There are, however, a number of well documented technical limitations with BTC, which must be overcome if its usage to become mainstream. A number of ALT coins have the potential to supersede BTC, although it will be hard to dethrone.

I agree that 99.9% of coins will fail and become worthless. The total market cap of the coins is ridiculous, given the usage of the coins as currency, it is purely speculation.  

Investing in the potential of a blockchain technology, as opposed to a currency, is a different kettle of fish. Many people confuse the two.

In my opinion, the bubble is still a long way from popping. Mainstream investment funds like Hardgreaves Landsdown are only starting to launch BTC investment funds. As BTC continues to grow, ALT coins will too. There are likely to be a few wobbles along the way. When the bubble eventually pops it will have implications way beyond the cryptocurrency world.

I expect total market cap of $90 - $110 billion by 2019/20, then collapse to $10 billion or less. The emperor has no clothes my friends.

This is very strange, how do you describe that cryptocurrency is 0 (not valuable) with the viewpoint of your economic methodology? , You are not an economist I think you are like naturalists. All started from nothing and crushed with nothingness . =))

 I just whipped up a cola-based drink in my kitchen and it's pretty tasty!  Good bye Coca-Cola Company!!  Mhuahaha!  Sell all of your Coke and Pepsi stock while you still can, losers!

This isn't true (if you want something that's an actual improvement or works as intended).

Sure you can copy/paste a current coin's design and copy/paste their updates to infinity--then you have V.2.0 and will always be playing catch-up. Bitcoin clones have proven this idea doesn't work at replacing the original.

And yes, you could copy/paste a coin and start adding your own features, but unless you have developers who understand cryptography, you are likely making something that will break with any real use (I'm staring at all those coins that use multiple hashing algorithms and didn't read or understand a cryptographic engineering textbook when they state that using multiple algorithms is a terrible idea and should be avoided unless absolutely necessary).

I think many here sounds religions. Just like believing in God or the market in 2007.

I'm trying to provide easy understandable facts for you here.
What anyone can make, is not worth anything.
That is economy 101.
What very few can make, is worth more. And so on.

There are over 700 cryptocoins today. https://coinmarketcap.com
Look this site.
What is it that you dont understand? It is the most simple economy you can ever learn.
Cryptocoin has no more value than some gold inside a computer game.

Sell it for money and invest in something real.
I'm out, at least I warned you.

Sturgeon's Law applies, and in cryptocurrency, it's likely higher.

you know what most of the people in my country think when someone says "Im an economist, listen to me ..." ? :

https://s12.postimg.org/jzkp59zhp/roflmao2.gif

This reasoning should also apply to fiat money, as there are many companies that print their own coupons, promotional debit cards, etc: virtually every company is free to have its own "money" and, curiously, those payment options have not lost their value due to their abundance, nor will lose it.

I think if you really are an economist, you should deepen your thinking to give rise to an intelligent discussion of this topic and demonstrate that your supposed knowledge can contribute to a better understanding of this important issue.

 LoL
You're in crypto for a 3 days and you're already out with a dire warning to the rest of us?  You come across as a flake.

There are over 750 coins in existence but a coin without any substantial business would not have any value,but that is not the case with most of the coins,there are zero valuation coins in the list you provided and it wont increase unless and until there is a pump and dump scheme other than that nothing happens on those coins and bitcoin is different from the rest of the tokens. :P

lmao dear OP, GTFO!

You're right about the fact anyone can make a crypto, but those coins without any backup (which can be technology ,an idea or company) will just remain worthless. The most coins with a high volume or market cap are backed up by something special which can evolve into something really usefull.

Good coins are worth investing....Shitcoins are not....Is that what you want to tell us Beggan?

I can tell you...most of us already know  :D

No one pays attention to shitcoins with marketcap less than $100 million anyway.
I know that using marketcap as a serious indicator is not the best idea, but there is nothing better to quickly distinguish between bad coins and totally worthless shitcoins.
Can you please enlighten us why do you think Bitcoin value will reach zero?

A failed economist probably. You should know as an economist about the difference of products. Features and benefits etc. Go back to bed, and rest well!

This is absolutely right and for a coin to be successful it depends on the technology and advertising technique
Look at the 5 top coin in the market,supply and demand,their % change
You can't just saying that all coin worthless because everyone can make one

I do not agree. Everything has a price. You are welcomed to make a coin yourself as anyone else. And as long as it will work will have value. Ofcourse there will not be a huge value , but some value.

There are way more then 750 coins and tokens. More like 750.000. There are some that made 100 coins.   Coin on long term will be worth as much as it will bring. Most coins are there for fun so are and will be cheap forever.

Thanks for your concern.

Not sure if trolling or ignorant. It's the same like any other open market. Some survive, some don't. Some do good, some do extremely good. 9 out of 10 start ups fail, why should it be any different here?

Do you really believe what you said?  Read, learn , read more, come back and post again

Could you write an article and publish it, then we can add it to https://99bitcoins.com/bitcoinobituaries/

With new elements being made in the lab, surely Gold and Silver must be worthless!
Alts generally are crap, so the fact that there are 750 of them is fairly meaningless.

It is like saying that if I write 1 UK Dollar on a piece of paper, I have made a new fiat currency, so all fiat should be worthless.

Most alts are worthless though.

Maybe he's just a stupid journalist who's working and telling all about Altcoin that he thinks 0, I think it's just bullshit, with this thread he made, at least he's proved he does not know about the world of cryptocurrency.

And that boys is why you don't listen to "economists". I can't tell you how many times I turn on the business news just to get a laugh at some economist regurgitating words from his frontal orifice.

I swear most of them repeat the same shit over and over, almost like they don't even have their own opinion.

People like you are why I left my Economics program at a prestigious university in favour of a Mathematics PhD. Most of those guys are monkeys who can only regurgitate whatever bullshit they have found in a textbook without even _really_ understanding any of the underlying assumptions and much less their flaws.

You're either trolling to pick off cheap coins or you're completely unqualified to assert the situation of cryptocurrencies. Wouldn't be surprised if it was a mix of both. Dumb people always have to raise their chances at profits by trying to fuck over others.

😂 😂 😂

please enlighten me (us) to what type of "economist" you are?

The type that's been through Economics 101 but understands about 20% of what he was taught :D

This is pretty funny...an economist? more like a fluffonomist... this is the new exit economy! an available exit/alternative to all...the banks are scared...this is more real than the fiat system..and secure. god speed to all and best of luck..welcome to the new reality..hope you don't get left behind.

maybe you need to learn more about cryptocurrency so you don't have to say like that. not all of people can created new coins if they don't know how to do that, how much they should prepared the budget, what should they do to make the coins get success and else. i think if every single coins can be created with easy, there are more than thousand but they should compete with the other to show that they are really the best coins.

Hi mate.
You are probaly an economist undergraduate?

I can tell you that a lot of big name economist already said that bitcoin is doomed and goes back to 1$.
3 years ago  ;D

So actually what is worth less then zero is just your opinion :/

I think you do not understand crypto world and cryptocurrencies. First of all,

-Every valuable coin in the crypto world has a creation purpose. like ethereum
-Every valuable coin in the crypto world is using for a purpose like Digibyte or belacoin

Everyone is free to create his own crypto money but this does not mean this crypto money can take the place of a valuable coin.

Everything in life, besides air, food, and water, is only given value based on human perception anyways, so what's your point? Why should gold have value for that matter?  It's because people give it value. Some might consider it inherently worthless. Why is the US Dollar or any other fiat currency valuable? Some government backs them up? Bitcoin is backed up by the people who give it value. Nobody can create any more bitcoin. The rest of the altcoins are irrelevant to some people. To some people they are not, which is why some altcoins have value while others don't.  I don't argue with you there's a bubble, and I do suggest taking profits like I've done. I've taken $250,000 out in pure profit.. taken your advice, however that doesn't mean that they are all worthless because you say so.. the free market will decide.

Just because other companies try to make knockoff of mayonnaise, doesn't mean  I'm going to buy them. Hellman's is the only brand I find to be "good tasting" ....

tesla.

https://www.tesla.com/blog/all-our-patent-are-belong-you

That's very nice of them.  I still maintain that closed source is good for the investors in the coin and the developers, assuming some programmer doesn't backwards engineer their tech or make their own version, which is very possible.  It's not a huge issue for me, I'll still invest in open source coins because I know other people will. It's the game of musical chairs. Like stocks, I'll buy what I think is going to go up and sell what I think will go down based on perceived "over or under valued" ... right now all of crypto is in a bubble, but it's going to hit at least $120B before it pops, at least the charts say so.

TSLA stock is wildly overvalued, for what it's worth (in my opinion... clearly other people disagree)


They are not scared.. if anything they'll use the tech to increase their own scalability. The general public is not going to abandon their fiat currency.. it's simply not going to happen. If anything, the billionaire rhinos that run the world would find bitcoin useful, which is why I don't think it's going anywhere, just like the war on drugs.

Coinbase and Fidelity are teaming up, and this is just the beginning. It will be a friendly alliance, much to the dismay of a lot of the anarchist types here who trust nothing that is "centralized."

I think he is a person who is unaware of the crypto world but just heard about the profit of bitcoin and other cryptocurrencies. And he jealous of cryptowords's big profit because he can never earn this money with traditional investment instrument. He is just trying to find a deficiency and talk nonsense.

Most of these freedom hating libral economist support fake "money" that always ends in zero ! ALWAYS NOT ONE HAS SURVIVED. Even the one one real money that in name ment something like 26 grams of silver through deception they manage to keep the name and covert to their fake money. So now that their is money that that is not fake they are using their deception again to destroy it. Wow, what else can you expect from freedom hating so called 'economist'??

I'm an economist... Sure you're not a nigerian prince as well ?

I found this post amusing in the extreme. Maybe the intention of the post was to entertain and rile up crypto investors.

What are the attributes of money and does Bitcoin satisfy those requirements?

General Acceptability: BTC has been declared a legal payment method in Japan and Philippines, and shortly in Australia
Portability: BTC doesn't need to be transported, have you ever tried to transport $100,000 in currency? It aserious drag and you are likely be accused of being a drug dealer
Indestructibility or Durability: so long as there are two computers and electricity somewhere in the world BTC will be usable for commerce and have value
Divisibility: BTC is divisible up to 8 decimal places
Cognizability: Microsoft, E&Y, Dell, an increasing number of companies accept BTC as payment
Stability of Value: BTC is volatile, but tends to appreciate since supply is limited and it it is gaining increaing recognition as a method of hedging against government confiscation or irresponsible central bank monetary policy

And here is quote to help convince our economist.

“Spend some time with Bitcoin. Learn it, challenge it, and use it. You can assume no government wants you adopting this system in any capacity, and for that reason alone it’s worth consideration by honest, moral, and industrious people”
“Economists and journalists often get caught up in this question: Why does Bitcoin have value? And the answer is very easy. Because it is useful and scarce.”
Eric Voorhes

I did sleep at a Holiday Inn last night. Maybe I should be the president....

I respect the post of the author it is her own analysis and view of the cryptocurrency but I think that's not gonna happen because if you create an alt coin then you should have a purpose or goal to achieve for that alt coin and these currencies cannot be zero in value.

Not all coins. I think the crypto coins is useful new tech. And (some of) the top coins have interesting qualities.

"On a long enough timeline, the survival rate for everyone drops to zero."

yeah yeah.

Hello,
I am the Easter Bunny.

You should write the Minister of Japan and tell him this because that entire country is being Scammed right now! hurry before they all go broke!

and how many times has economist got it wrong?! lol

Lol Most people assume that economists on TV must know what they talking about and have made millions in the market, but in reality they are still working a full time job because they need money lol. Plus, all it took for anyone to make 400%+ was to buy basically any largecap stock outside of financials at the base of 2008 and hold it until today. A monkey could do that, an extremely small amount of economic knowledge was required.

Yet most of them on TV are advocating selling stocks, buying stocks, "check this out" etc etc. It's all just asinine and I barely pay attention anymore because they don't give any good information anyways. You get way more information by just looking at the financial reports & balance sheets, as well as any sort of shareholder meeting that has been summarized for the public.

Not once have I ever taken an economists advice and bought or sold something on his recommendation. It's cute to watch them try though. :)

Can you at least try harder to put out decent bait? SRS this is just shitposting

The baby boomers confusion and fear of the uncertainty is the reason we're all going to get rich, feels good being an early adopter lads

Okay, there are a few problems I can see here. #1 is that fiat is also quite worthless, it is definitely not backed up by gold anymore and it is printed in expectation that in the future it will obtain the price, because people will use it. Cryptocurrencies are even more like that. Their 'real' price might be calculated by counting the sums of money spent on electricity to mine the coins (if we deal with Pow), to store coins (PoS) or to run some code which regularly throws some amount into circulating supply. However, it doesn't really work like it, for we can see that coins are actually worth more and if they weren't, they wouldn't exist, for nobody would've mined/stored/produced them without profit. Demand and offer system owrks with cryptos perfectly and allows us to say they do have a price.
I agree with you on some points, though. For instance, I also think it is possible that people will realize there is no real value under these currencies and they will become worthless. But for that the world needs something like World War 3 when nothing except food and shelter will have price.

This is the funniest thing I've seen all day. You say you are an economist which explains why A: You don't understand cryptocurrency B: why you talk about the value of the market without mention of what your valuation is measured in (i.e. Nada what... $US, gold, silver?) and C: why you think people should value your oppinion even though it's provably worthless.

Thanks for the laugh

Regards?!

Don't forget to stick your nose in the air while you ignore crypto, I hope you never own any.

Hahaha this is the CHARLATAN that is on all the ICO threads.He have a second account but I will not say the nickname... ::)

I've been involved in mining bitcoins and altcoins since 2013 but no, I've never made an account here before.
I just wanted to warn my fellows and friends.

To create value out of nothing is not a road to success or becoming rich.
And, I've already mentioned but I'm gonna do it again since some of you people obviously can't read, USD/EUR is just as much of a scam as these cryptocoins is.
I call it "digital candy".

What kind of joke is this? Get a life and do something meaningful.

Why you've been involved in mining since bitcoin have no real value? Don't get it. You want to make money from crypto currencies but you don't like them and don't support them. Then you use your newbie account to post in the crypto forum that they are worth nothing. WTF?  :D

BTW, which economic university have you graduated?

What is the purpose of this post in Bitcoin talk forum?

I disagree with your claim. Just this few days, i read about so many positive news about Bitcoin and a few alternate coins.

And the recent ICO has been so successful, this show the confidence level of investors.

Well, if you would like to stay away from the coins, by all means.

Like your post, just for signature campaign post count. Post something meaningful too.


Probably, OP is looking in the long term, maybe 10 years from now. Although I believe that because of technology, crypto-currency will last forever.

bump

pump
dump
dumb

you should try to to get a job on Wall Street or in the City, they must be surely hungry for someone with your qualifications  in economic sciences, eagerly waiting for your analyses.

Get out!

750 4000

Yep, ticks all the boxes to be an economist: no idea of the actual state of play, no insights to bring but nevertheless unable to resist pointlessly churning out patronising kneejerk ideology. 100% economist and troll of the year, yes indeed. +10.

Cheers

Graham
 

Well.

Can't say I didn't -at least- warn you. Even tho most of you are very stubborn and don't seem to grasp the concept...
I suggest you google "tulip mania".


Seriously guys.
Anyone can create a cryptocoin, there are over 4000? 700? whatever - its legitimacy is 0 and therefor its value is 0.
Cant be more clear than that.

You're just dumb and trying to spread FUD with flawed logic.

Dude.
Google tulip mania and return, please do, I dare you.

What is the value of AIR, SAND, or WATER?
It has a value but it's very very low, because its easily available.
Same with cryptocoins, they are to easy to create to hold a value...

Yaaaawn.
nothing new in here.

Haha, I have an example very funny for describe the current situation:

I have some worker
I have technology blockchain
A ... create more crypto coins

exactly. This is the problem.

So, let's look at the options shall we?
Fiat currencies are controlled by the elit and the only thing visible in todays society is a huge wealth transfer from the 99% to the 1%.
Precious metals hold a great upside but the elite is doing everything in their power to suppress the price. It might take a while before an investment pays off...
I don't know much about stocks and bonds but I don't trust that market further than I can throw it.

Btw Tulip mania is something I would claim applies to the US dollar atm.

So the moment people realize that dollar bills are actually just a specially designed paper, and nothing more than that. And they can create their own specially designed paper too, will be worth 0, NADA of course... hence dollar bills will also be worth 0. So people stop using dollar bills and go back to the barter system.
That's your logic?

The price of all the coins is judged from a project that they stretcher is true what you say, as much as paper money everybody can make it but it depends on the legality problem if the country that make their currency is legal but if induvidual make clear it is counterfeiting action Currencies as well as all the coins here that are viewed are what portfolio projects they bring to the market

Well valuation does depend on how you perceive something, so the logic is true. The thing is, it will never come to that. BTCBTCBTC has always been associated with money and will always be associated with money.

That's correct but also depends on one's perception of money and how mainstream alternatives are. Currently most markets that accept BTC as currency base their prices on FIAT against BTC but that could change for certain markets if say for example that bitcoin somehow became more popular than USD.

Well, the fiat money that you are holding right now has actually no realistic value either. You are an economist right? You know that. Value is actually imposed on these otherwise useless and worthless pieces of paper, exactly just like bitcoin. Value is present simply because we all agree to put value to it. And right now, as you can observe, the people are trusting bitcoin as reflected by the value it has.

But I share your point that virtually anyone can just make a coin. That will actually be a downside to the crypto nation.

You have to expand your criteria to draw such conclusions,and not to do them simply because it seem logical at first,about that you have mentioned the most valuable is water and air because both are two essential elements for life right(real value)? but let's put that point aside because it would be very extensive,about that you say cryptocoins, they are to easy to create to hold a value(economic value) one thing is certain but not the other,if that were true all those would have the same value,which is not so,the majority are copies that cease to function because they lack support, maintenance or development at some point,but not all.

You are wasting your time, he is an economist  ::)

Guys anyone can make cars now better sell them before they become worthless
Guys anyone can make a replica of a Picasso better sell that shit before it becomes worthless
Guys anyone can start an online store all online stores are worthless

I hope the university that gave you that degree made a good chunk of money off your dumbass

Its a fact that 90% of the altcoins never survive in the market even coins which had a decent run in the ICO phase. It all depends on what the coin is aimed at and every coin has its own benefits so you can't entirely be sure if the coin has a future or not unless its actually not a good investment which you can judge by some research and your gut.

I think what most people fail to think about, is that this 'cryptocurrency' world is still in its infant stage.  Yes bitcoin has been around awhile, but when you step back and look at the whole picture this is a brand new industry, not many rules or regulations, much like the wild west of long ago.

I believe the world economy is coming closer to becoming a digital economy with digital currencies, and everyone here is basically paving the way and the early pioneers.

So basicaly, just hodl through the bad times, because good times are coming.

I agree. People just lack vision and scale. They think the worlds end is upon us when the market drops 30b. In reality, this is nothing when looked at a global scale. It is a fluke. The larger it gets, the lower the flucutations will be. But without vision and patience to hold more than 2 weeks, crypto - and every other investment as well - is not for you. Save your money and put it under a pillow. People just wanna get rich over night without risk. Will not happen.

Exactly, people need to change their mindset. Another thing, they have to realize that there is manipulation behind alot of the hype, FUD, doom and gloom going on. Dont make your decisions based on what other people say or claim about a certain coin, do your own research.  People want to create panic so they can buy more at a cheaper price, and  then they unleash the hype to build it back up.  I feel bad watching the panic set in because I know alot of people are going to cut their losses and sell at a loss.

Absolutely I agree.You wrote so beautifully.We need to collect more shares

I started to believe there is a capital flow and its direction from the late investors to the founders and early adopters. This creates worries for the people who are interested in altcoins.

The image below is very useful that shared by another user above:

https://image.ibb.co/mqO1Ck/LEVELS_i.png

Talk about putting your foot in your mouth, I am an economist, and you sir are an embarrassment. You clearly have no understanding of what a blockchain is and why this tech is revolutionary. There is no book for this and trying to compare it to anything that has happened in the past is pointless. Not only will many of these public blockchains thrive but they will end up encompassing all of society, you just need to look a little further down the road to see it.

All I can do is to keep warning you from the crash that has just started.
Get out.

Buy real things.
Cryptocoins are worthless. And yes, many people have asked what I think about normal currencies like the USD, EURO and so on.
And yes, they are worthless to. They are just as much fiat currency as the cryptocoins.

Warnings like this are making price to fall down more than it should.
So, everything is worthless? Should we trade like 2000 years ago food for silver etc?

I'm an economist and I just want to give you a head up to sell all your coins before they get worthless.
Including Bitcoins.


if you are a real economist, you have to explain the reason about your thought. i feel, u just copy some text from somewhere and post here.

if you are a real economist, you explain point by point, not write some lines and feel, people start to follow you without any reason and explanation.

Dear its not correct that all coin are worthless there are many coins available that have value in long term there are some coins which have some worth in the market and they will be used by many companies in the future there are many crap coins also available here but not all there are many good coins also which will be sure worth good in the future.

These days I am supporting dent this an altcoin to bring something useful to the people, especially in the mobile data industry, trading unused mobile data. dentcoin is an interesting altcoin ICO is running now.

lol, Bitcoin has intrinsic value.. Millions of dollars worth of electricity was spent on creating them, so people wont let them go that easy.. Economist, lol

according to the brilliant economist the gu's i bought from newegg with bitcoin are worthless. This clown. WHAT A JOKE. Go buy some ico tokens dude.

I will never get tired of reading garbage like this from people who have zero idea of what's up. I think most of them are salty for missing out on the huge bull market. And now when the trend has reversed they get to gloat for a while, until we go full retard bull again. The circle of life \o/

It's sad to see.

I provide you with facts, but you are blind.
I made a million dollar on bitcoins, and I've sold it all.

I've been trading the stock market since 2005, I know my shit.
You guys are blinded by the money you made so far. You will sit during the crash and won't make a dollar in the end.

Jesus. Forgot how retarded people are until I wrote this thread.

Had to sign up for this...

If there's one thing that economists almost always fail in, it's predicting a crash. It's a soft science, all your models are theoretical.

The major value of Bitcoin that you're overlooking is that it is decentralised, and in the case of the PBoC and capital outflow restrictions, it offered a cheap(!) and relatively easy solution for the Chinese to get money across borders without questions asked. Hence why the Chinese account for the majority of Bitcoin traded.

My guess is that the massive inflow lured a lot of speculators in and they're now liquidating there positions, cashing in and standing on the sidelines until after they find out what will happen after 08/01. However, financial companies are trying to rush into the bitcoin market as well with several applications filed for BC ETF's. One apparently got approved in Switzerland the other day, which means fresh capital inflows from your average (wealthy) mom & pop investor.

In my opinion this bubble isn't ready to pop yet as mainstream investors aren't pouring their money in yet. When that day comes, I'm selling what little cryptocurrency I own.

LOL,   :D

ZEIT can weather any storm,  :D

ZEIT was made to Survive in all conditions,
and has the ZEIT Knights ready to defend it to the last Knight.


 8)

Too many trolls on the internet  ::)

You made millions but have a newbie account. You are a pathetic liar. Anyone with even a below average iq could see your full of shit.

I appreciate your opinion about bitcoin, but I think bitcoin will not be worth zero if there are still people who invest and buy bitcoin. :o

We the investor would look upon only coins that have a constant development team as well with strong community, future are limitless with blockchain tech

Thaught first, that was a serious warning because of maybe blockchains crashing down or governments forbid all cryptocurrencies. No, at serious, as long as a cryptocurrency has a healthy infrastructure and is not created to steal peoples money, there is no reason to worry, I think. Even contrary could happen. Traditional money could be superseded by cryptocurrencies.

I respect OP's opinion , but bear in mind that all cryptocurrency starts from nothing. No value at all. It started having a value when people believe in it this cryptocurrency. Not only believe but willing to pay for it. As people support for it, staring building community and it reach millions of people, the law supple and demand comes in. Now, we have this bitcoin having a price of $2,000+. It continues to evolved even some countries are now accepting it.

I understand your point there.Yes,anyone can create their own cryptocurrency but still bitcoin has reached far enough for some new "cryptocurrencies" to reach its point.Bitcoin has already reached many people around the world and it is already introduced to many online selling shops that allows the bitcoin to be a medium of payment.Thats why it is valuable and it will not gonna drop at the point of zero.

Innovation creates value and not the other way around. The economy is a complex network of many ideas and disciplines including anthropology, psychology, ecology, physics, sociology, and ethics.

well, first off, your original post literally describes fiat money, but in terms of banking credit. Any bank can create that credit, so, its worthless. no?

I also see your problem. You're an economist, not a software engineer. Out of your element. Stick to the banking sector, and leave the tech sector to the people who run it.

Sounds legit

Just another guy who doesn't understand what he's talking about.  ;D

Best troll thread of the century.  Kudos to you sir!

I dumped all my coins!!  That was a close one!! Dang!! ;D

Hello dear fellows,

I'm an astronomer and I just want to give you a head up to sell all your gold before they get worthless.
Including silver.

Today there are over 118 elements in existence.
Because literally any dying sun, any exploding of nova can fuse to create their own gold. Very easily with large mass over coming gravity.

So, if any sun can create any amount of their own gold.
Guess what the value of that gold will be on the market?
0.
It's value is zero.
It's literally worth less than water or the air you're breathing.

Once people start to realize this, that the gold have no realistic valuation, each and every single one of every gold will be worth NADA. 0. ZERO. NOTHING.
Enjoy the ride while it last, and get out fast.

Regards

Nice!!  I like this one!! ;D

Sorry, but I am by nature a very stuborn person that don't like to be told what to do. So here what I will do: the exact opposite and HOLD my BTC and ALTs for a couple of years. I will not do the same error as 2014 twice.

BTW, you are very funny. If you don't beleive in crypto, why on earth are you wasting your time here?