Bitcoin Forum

Steve Eisman, à famous investor, particularly influential on Wall Street, was in Hong Kong to participate in a particularly important convention in the finance sector. The man had to express himself about crypto-currencies, explaining that for him it was only a fling::'' I do not see the point. What is the added value of crypto-currencies? No one has been able to give me an answer to that question. »

Hmmmm, this is a questions we must all pounder on. What is the value added of Cryptocurrency? But all I know is that Cryptocurrency has come to stay.

Yeah i thought of this also but still i want cryptocurrency to stay this way and let us get along with it. As we all know that some of the members here had benefited already with cryptocurrency and we are hoping that we are too in the near future. As we get along with day by day we are able to learn more about cryptocurrency and we are hopeful that it could stay this way.

He is a respected personality in the United States. Is it him who  inspired the character of the movie The Big Short ?
Anyway, he gave his opinion on Bitcoin and on crypto-currencies ,and it going to have a bad influence to its rate .

He has not used cryptocurrency. Has he? If yes, he wouldn't ask that question. One simple answer is fast, decentralized and well secured peer to peer payment across the globe.

It this has existed before cryptocurrency, he should let me know. I see it as added value.

" After offering testimony to Senate Health, Education and Labor Committee on problems with for-profit higher education,

Eisman was criticized by progressive groups such as Citizens for Responsibility and Ethics in Washington on the grounds that

he stood to profit from proposed regulations due to his short positions against private colleges."

https://en.wikipedia.org/wiki/Steve_Eisman

So, his game is simple : Short Bitcoin, talk trash about Bitcoin, Bitcoin price takes a nose dive, take profits.  ::)

These guys just know how to play the game and they will never be caught with the hand in the cookie jar.  >:(

https://www.cnbc.com/2018/05/14/big-short-steve-eisman-blasts-cryptocurrencies-bets-against-deutsche-bank.html

" "For the first time in all the years I've covered bank stocks, I can honestly say the financial system in the United States is

safe." <---- Massive Bank Shill.  ::)   ....Famous last words!

what bad news is that. . . make people afraid of ha ha. . .

This isn't bad news at all.  It's merely an investor expressing his opinion on bitcoin, and it doesn't even sound like he blasted it at all.  He's merely skeptical of bitcoin's value, which I confess I am as well.  People who make their living trading stocks and such won't necessarily have any need whatsoever for crypto, and that's something we all should expect and accept.  It's the same thing with Warren Buffett, who has expressed his doubt as well.

Time will either vindicate the true believers or not, but crypto has been around almost 10 years now and it's been an incredible ride so far.  And think about this, 1BTC=$7500.  Bitcoin started at basically zero in 2009.  That is incredible progress.

This one hits the spot. Its a typical whale strategy specially for those who want's to get in but too late. So instead of buying at high price, he used his influence, he uses the stage. But if you are familiar with how Bitcoin behaves, it will recover eventually. Bitcoin has gone through this kind of situation before. This is not something new anymore.

olthough i am too opposing bitcoin i can answer that actually,

cryptocurrencies, decentralise the financial system, that is currently focused on communal establishments, those basically see and threat the population that cannot print money, like money earning cattle, which is forced to sell their time, in order to obtain consumption capacities through money.

with cryptocurrencies and a good decentralised cryptoeconomics it is possible to decentralise the economy from those establishmentists, that effectively run a neofeudal rule over those that don't own anything and have to sell them their time, like slaves.

this is a very painful truth and it is being surpressed deliberately.

regards

Their opinions don't matter although they are free to express themselves. It doesn't sound like he did is research about the blockchain technology anyway.

This is personal opinion, some people are trying to find the answer they are looking for. Obviously this guy who ever he is first time hears about crypto and he might feel awful for not stepping it foot on the train and get money out of it. So now he is looking for reasons not buy into crypto or blockchain tech. Crypto is the future and there is no person on the planet that can make my opinion otherwise in this moment in time. It simply is, call it a bitcoin or something else it will exist in the future and have its value. Let me ask you a question how dollar has value by being backed up with debt?

Hm, its normal movement everybody. And here in investment there is always bad news and good news, all we need to do is to timing at the exact moment so that we can earn profit. Like right now its bad news because its falling, but its also a good news to those people who did not invest yet, so expect worst and after that profit will come to you.

And why is that bad news for Bitcoin?
And who says that he is so influental that his opinion would affect Bitcoin in some significant way, to much attention is given to.such "experts".
To my opinion the greatest added value of Bitcoin is decentralization and new technology (blockchain) that is based on. This is the first time in financial history that we have system like that and that can actualy change something.

Any successful trader who never held cryptocurrencies in their lives that come and make some negative comments about it shouldn't be listened at. It's like they're giving a review to an item which they don't like because they have one that they use and they are paid to use it. These comments are irrelevant no matter how successful one might be in investing if they don't fully understand the concept and dynamics of cryptocurrencies. Sure it's a new tech and it's volatility raises red flags, but the mere fact that people invested so much onto it and built services around it already justifies that people want it to stay.

So, why is a rich person who doesn't understand something bad for whatever they are talking about that they don't understand? Often when you're rich and successful, you'll be surrounded by people who just further your own idea so they can keep cashing out on your checks and never try to contradict your ideas to avoid upsetting you.

There are many use cases for Bitcoin, and just because some ignorant rich guy doesn't understand it doesn't mean it is bad for the market ;D

his is the main bad news for States, and they are trying to confront this new phenomenon together. and some financial circles use the situation to knock bitcoin out of weak hands and take as much as possible and as cheap as possible

after I read the news or information, that the Chinese country to buy 100 thousand bitcoin me to mind if. one day they will slam the bitcoin price. sell bitcoin at once after bitcoin prices start to improve .if that happened. when will the bitcoin rate keep improving ?. so that small investors can also feel the result of their investment .

Maybe he has a point and obviously he knows what he is saying and he is free to say whatever he wanted to say, but for me, although there is a negative side about bitcoin I would still want this despite of everything that I am hearing and regardless how famous and influential that person is.

Bitcoin has dropped to a point in the unfavorable to produce, according to some estimates.

"Bitcoin is currently being traded on a break-even fee for bitcoin mining, at $ 8,038 based on the mining model developed by our team," Thomas Lee, Fundstrat said in a report on Thursday.

The Fundstrat model incorporates three factors, namely the cost of equipment, electricity and other overheads such as maintaining cooling facilities.

Cryptocurrency traded slightly lower, approaching $ 8,000 Thursday, according to the CoinDesk bitcoin price index, which tracks prices from four major global bourses. Earlier, bitcoin hit a low of $ 7,676.52, the lowest since Feb. 8, according to CoinDesk data.

Bitcoin is created through an energy-intensive "mining" process that uses high computational power to solve complex mathematical equations, proving that an anonymous miner uses an agreed-upon process of networking to build a blockchain transaction record. Then, miners get bitcoin as a reward for successfully completing the equation.

"In some cases, miners might just shut down the engine until the price goes back a bit," said Shone Anstey, co-founder and president of Blockchain Intelligence Group. "Keep in mind that some of them may lose money."

Currently, Bitcoin miners need specialized hardware whose price can reach several hundred to several thousand dollars, because it requires a lot of technology, and more efficient equipment.

In fact, the need to replace equipment accounts for more than half the cost of mining, according to the Fundstrat model, said Sam Doctor, head of quantitative data science. He assumes electricity costs of 6 cents per kilowatt hour and other costs to a break-even forecast of $ 8,038.

After the Fudder comments of the Economy Noble prize winner, Warren Buffet  and Bill Gates

Any other FUD comment is just plain useless, we have taken too much hits to give a fuck anymore

It isn't bad news for Bitcoin when somebody makes a comment and completely does not understand. First off if you can't see the value, don't make comments. Secondly, the value lies in the network and being autonomous from government agencies printing fiat money at will. And if you can't see that simple fact, then damn you surely should stay far away please. Also, don't make any more dumb comments please.

So, some guy somewhere didn't understand bitcoin. Okay, how is that bad news for me?

This is barely bad news. Not sure if Bill Gates and Warren Buffet saying negative stuff about bitcoin should even be considered bad news, what more with this Eisman dude that most people have never heard about? The dude is simply irrelevant.  Stop getting FUDed easily by such statements from people, especially people who don't even know much about bitcoin or cryptocurrencies in general.

The opinions of such well-known and influential people can really adversely affect the course of many crypto-currencies. But sometimes it is worth to listen to the opinion of experts

many opinions of information that keeps on popping up and all back again to investors who have confidence in bitcoin is therefore the main capital in investing with bitcoin

This question isn't relevant to the cryptocurrency! If he is an expert, he must know this)

Yes, the question is certainly interesting and makes you think deeply about this problem. But I want to believe that the cryptocurrency will take a tighter position and will allow you to use it successfully.

Any successful merchant who never holds crypto currency in the lives of those who come and makes some negative computers about it should not be listened to. With this comment is not so relevant it does not matter how successful a person is in investing if they do not quite understand the concept and dynamics in cryptocurrency. 8)

How could it be a bad news, he is a bitcoin user and he just share his own opinion.

Show him this link and he will understand what is the added value:
https://coinmarketcap.com/currencies/bitcoin/

It summarizes everything !

I think this is another speculation trying to destruct bitcoin image in the market, so as an investor we should  not listen this kind of speculation as this may influence our decision and might be risking our investment.

You are right, whatever happens now and who ever makes fuds about bitcoin will not affect the continues growth and popularity of bitcoin, all of this is just temporary and we will see some good changes with the price soon.

Although you are correct that this is bad news I do not think that there will be an effect on bitcoins price. We have heard this type of comment too many times. Also this type of comments have been said to Bitcoin previously not just in the recent past but this was said since the inception of Bitcoin and look how much Bitcoins price. Do not worry on this type of FUD, we will see Bitcoin recover.

I strongly agree with you my friend, you know what bitcoin is and how legit, why you still listening those people who tries to shut down bitcoin? Do whatever you want dont listen to those strangers. If you are a real investor you know what you doing.

It is being obvious because the person saying this is a famous investor, but one should understand that this is actually his own opinion to the crypto-currencies. As a matter of fact Steve Eisman expressed skepticism over cryptocurrencies because he don't really understand it.

Well its not news to me hearing bad things said about bitcoin. The person might be famous though and if this continuously happen  for a long time, it might influence people's decision and will be risking our investment.

I think it's a FUD .Therefore, booming is so near, i can even taste a little of it due to my abnormally long tounge :lmao:. Ask yourself, why there are so many great news lately, Korea to unban ICO, Chinese president XiJinPing talk about crypto, China is developing their own domestic block-chain, SEC, no news about what happened inside Consensus....... and all coins are experiencing blood-bath now. Why ? It is those who have been manipulating this market to foresee that storm, they cant stop it, only postpone .Those greedy people want every last bite of your coins, that is why the market movements lately make you so exhausted, it is no coincidence , you gotta be glad that we reached this stage as the next, yes the juicy one, is near. Stay strong my friends :) and again HODL. Keep that spirit.

this is absolutely not a bad news for bitcoin, that someone whose name I have never heard before said that he doesn't know the use of bitcoin. Come on people, with bitcoin ANYONE can have access to wallet and start sending and receiving money without any barrier. Go and ask some people in South Sudan how easy it's to open and account and send the money abroad... Impossible...

It's simply he want's to dragging down the reputation of bitcoin, that is why he throws negative feedback to bitcoin. So that many people, especially to those who are investing their money in cryptos are not interested to invest their money in bitcoin. Because of Steve Eisman said, they lost their trust in cryptocurrencies.

I think bad news about bitcoin from the past until now always appear but we need to see bitcoin persisted until now and there are still many investors who are interested

Crazy stuff

has no effect on crypto growth, although crypto is now not just bitcoin but bitcoin will still continue to grow to be one of the best. many statements say about bitcoin but until now bitcoin is still growing and growing high.

I would not say that this is bad news, because these are just assumptions ...

You are going to get the same answer from everyone who isn't able to understand the technology or the revolution a decentralized currency like Bitcoin brings. Just the thought of being the only owner of your money is foreign to these people. Also most of them are heavily invested in bank stocks and thus hate on bitcoin.

This isn't awful news by any stretch of the imagination. It's just a financial specialist communicating his feeling on bitcoin, and it doesn't seem like he shot it by any stretch of the imagination. He's simply doubtful of bitcoin's esteem, which I admit I am also. Individuals who make their living exchanging stocks and such won't really have any need at all for crypto, and that is something we as a whole ought to expect and acknowledge. It's a similar thing with Warren Buffett, who has communicated his uncertainty too.

Your speculation is sure, or you are using something to make the Bitcoin value drop significantly.

Bitcoin (BTC) may fall six times - to $ 1,000

The first crypto currency fell on Sunday by almost $ 900, or 11.2% - and this decline could have longer-term consequences for the market

Due to some fud about bitcoin technology spreading In the social media, the value was totally dropped and this another bad news appear  recently Is only addition for make bitcoin plunge to Its value. But I'm sure It will recover soon.

I believe that what happened in the crypto market lately was just purely a huge bearish market which is now under the adjustment period.
Since the dip is quite huge, this will take a longer time to be able to restore it's previous value before the bear market had started. Moreover, I am still optimistic that the crypto market will recover soon in the coming months to come and therefore just hold your cryptos and don't loose hope for it will be back on track.

He's merely skeptical of bitcoin's value, which I confess I am as well.  People who make their living trading stocks and such won't necessarily have any need whatsoever for crypto, and that's something we all should expect and accept

Why is it a bad news for bitcoins? Just cause the so called investor didn't understand Bitcoin you call it bad news, I don't even understand why do you'll react to such news. I guess it's about time that you'll understand that they're paid to say such statements the bankers and governments keep them in pressure to release such statements so ignore it.

All people have freeway to express their opinion about crypto currency specially in bitcoin, but it doesn't mean that it was imperfection that to be added unless there will have enough evidence to pursuit that bitcoin is not good.

as we all expected,the btc price will be soon ,more and more person have belief

Yeah that's the strategy of whales that are late joined bitcoin and then don’t want to buy at high prices.
Bitcoin has passed a lot of problems that has decreased its selling price
I think the news isn’t really bad
Bad news like when China closed all the ICOs which brought a big impact in bitcoin’s price  ;D

It seems that it’s not a bad news, it’s just a person who wants to draw attention with his opinion. And that doesn’t have any impact on bitcoin’s price.
Just ignore that person's question and run your activity as usual don’t waste your time to answer it.
Bitcoin’s value will rise if its market, demand and supply pushes it to rise.

It’s just a comment that looking for sensation to draw attention of bitcoin holders.
Maybe that person doesn’t understand and rejects bitcoin, maybe he commented so people won’t be interested in bitcoin. Really, a strange rich man: D
Just believe in bitcoin and find out stuffs about bitcoin as much as possible so that your beliefs with bitcoin won’t shake with such silly comments.
Bitcoin isn’t very influential to any rich person. Just because 1 rich person looking for a sensation, bitcoin will remain safe and no one can control it.

Hahaha a weak hand holding bitcoin. I guess that's not weak it’s just lacking of knowledge about bitcoin then panic and sell it.
Just because of 1 rich man commented like that, the weak hand panicked and sold it, if a country ban bitcoin completely maybe the weak hands will stop to hold bitcoin and give up.
 

Now bitcoin price is going down. So don't sell the coin. Most of the traders wait for this moment. So tradres buy the coin and hold coin. If price will be increase then people will be sell.
This time bitcoin price is down. So wait for the price increase. If price will be increase then sell.
Bitcoin is good future saving. So don't want the bitcoin.
If need for the price increase check the market price.

is it true, cryptocurrency is just a whales game?
is not this a digital payment tool?
whose real purpose is to make payments to the whole world without any time and space restrictions

It will be not a bad news for bitcoin investors.If you had enough time,inverse the entire in bitcoin.This usage of time in bitcoin make you rich in Future.Many had invested their valuable money and time in bitcoin,then enjoyed the lot of profit in future.

A strange statement for an erudite man. From the definition of fiat "Fiat money is a currency that the government positions as a legal meant of payment, but it has no internal value, isn't provided with reserves." That is, we can draw a fair conclusion: they are provided only by the promises of our government and nothing more.  But I don't believe the government.The governments don't like cryptocurrencies because they can't control it, unlike the fiat cash,which they can print on the first need.

Every day their bad news and for me the bad news are people who don't understand what is the bitcoin all about and the price of bitcoin that randomly changing the scammers and hackers.

OMG so sad to hear this news

Any successful merchant who never holds cryptocurrency in the lives of those who come and makes some negative comments about it should not be heard. It's like they are giving reviews to items they do not like because they have one they use and they get paid to use it. These comments are irrelevant no matter how successful someone is to invest in Bitcoin if they do not fully understand the concept and dynamics of cryptocurrency. Of course this is a new technology and its volatility raises a red flag, but the fact that people invest so much into it and build services around it already justify that people want it to remain. Thanks

Hi, first of all we need to comprehend what he meant by "fling". This fling that he refers to is the current hysetria amongst investors who have least knowledge abt the technology involved and are only concerned with the huge profits which suddenly bombarded the traditional financial sector.
As per the report from Mangrove Capital on 200 ICOs revealed that ICOs provide an ROI of 1,320% as compared to 7-10 % in stocks. People like Eisman didnt have much option apart from stock trading before crypto currency hence its his new Girlfriend/fling.
Now coming to your question regarding what is the intrinsic value of crypto currency ? You can refer to as what was the motivation behind the inception of Bitcoin and Ethereum. Vitalik and Satoshi have already pressed upon the reason to provide financial freedom back to masses rather than leaving the power hold of finance/economy in a few hands.
P.S. - sorry for the long reply. :)

There is no bad news here, he just gave his personal opinion about Bitcoin, personally I can give 20 different opinions on Bitcoin as well

I don't see that news as bad news for bitcoin at all. Somehow as you interpret it, but what is the impact one person can make against millions of people about this bitcoin. I don't care if he's a famous person, all I can say right now, bitcoin is still okay.

I have seen a really good documentary about wall street and capitalism and very experienced brokers were not able to describe what a derivative is but it was traded since many years. So the explanation and this kind of new is not a big deal I guess.

I think the usual bad news in bitcoin is the lower market value it haves since many investors want income but for the new investors they are glad since low market value it have in the market.

lol, yeah this is such bad news. Imagine bitcoin now this has happened. Game over.

Why do people post this nonsense. How to demerit these imbeciles.

Each and everyone of us has different opinion about anything. Steve is just being biased since he is in the traditional stock market investment not in crypto. There are lots of people in wall street who doesn't believe in the technology of bitcoin, and they are too scared that even young investors would surpass their wealth in a blink of an eye with crypto investments.
Bitcoin was made to correct the errors that a centralized currency we have right now. Bitcoin is invulnerable to human error and fraud. The cross border fees are eliminated when it comes to bitcoin accompanied with the anonymity of online transactions which is impossible to do with our current centralized system.

it has been a long time since we dont see bad news about bitcoin, so how is it possible? i think that there is no way at the moment, STOP with the fud because it makes no sense

Many bad news we heared about bitcoins and it makes us alarm, this is done by scammers, and others played by big whales they manipulate the systems in order to that their only be benefits and earn some thats why small players are suffer, but dont panic everything will be back to normal and fined...

For one months we are always found bad and negative news about bitcoin and crypctocurrency, why is happen and how long will be bad news about bitcoin ? many investor was afraid because have faced bad news about bitcoin and make bitcoin price more lower than usually price. many investor keep and run away for invest their money on bitcoin because bitcoin price was low. we have protect and give support for cryptocurrency to recovery their price to be higher.

why did you bump this old topic then?
2 months ago nobody gave a shit what OP or the person OP is quoting said and nobody is giving a shit still. people are saying a lot of bullshit about bitcoin these days because they are desperate to get on board and buy bitcoin as cheap as possible before the take off starts.

He did not see the long-term potential of Cryptocurrency. The top 50 currencies are operating and making very good profits from their business model of money transfer. In the future, banks must link with altcoins to be able to improve their money transfer services. I believe in the good future of the Crypto market and don't care about Steve Eisman.

Crypto currency really does not create anything tangible. Well, what of it? It creates enormous comfort for a person in terms of financial relations and mutual settlements. However, if you understand, crypto-currency brings great savings from the introduction of various tokens in various spheres of our lives, this effect can be measured in terms of material.

Well, at this stage we must understand that Bitcoin or the Crypto industry is still in the basic phase of development and hence we don't see the high volume of ground-level usage of cryptocurrencies. However, the value of Bitcoin is increasing day by day as more and more merchants are getting involved with cryptocurrencies and accepting it as a payment system. It is true that we still have a long way to go but I am optimistic about the potential of Bitcoin and Crypto industry.

indeed can be said escape from economic problem in my opinion also can be as problem solving in economic system which progressively growing and experiencing rapid change also

Well, everything new to someones ear almost always means danger. So im not surprised many financial genius would turn their backs on crypto. But don't listen to people who didnt experience crypto. If theres anyone legit enough to talk abiut something, one should have experienced it and not base his talk on merely heresays.