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August 24, 2015, 01:32:40 PM |
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Bitcoin can't fail with venture capital? NOT AT ALL!
Many bitcoiners have a delusion dream about bitcoin must be too big to fail because it attracted few venture capital firms investments.
Big guys are also holding the bitcoin bags so how can bitcoin go back to $0 or be replaced by other new things?
Well this delusion is not real and bitcoin will easily fail, venture capital is a high risk thing means most of investments will fail at the end.
Losing millions in bitcoin's failure can be expected at the beginning by institutional/rich individual investors, not a big deal for them any way.
They are not that stupid to do helpless struggle nor keep pumping useless infinite money into this dying bitcoin to make you rich.
Other successful investments they made will cover the small losses after bitcoin's failure.
Let's see some examples:
1: Fortress Investment Group LLC (NYSE: FIG, $62 billion in assets, 2014 revenue 1.1 billion) suffered a losses on bitcoin in last two year. they bought $20 million of bitcoin in 2013 and had a $3.7 million paper loss on that investment at the end of 2013. they already cut losses and dumped their bitcoin bags to Pantera Capital and move on, smart. $3.7 million losses is nothing for them any way.
2: Tim draper is a famous bitcoin bag holder, he made a mistake by buying 30,000 bitcoins at roughly $600/each at first US Marshals bitcoin auction first July 2014, he also bought 2,000 bitcoins at roughly $350/each at the second auction. $10 million losses is nothing since he is a billionaire. Everything will be fine, his luxury life goes on after bitcoin's failure.
3: NYSE and others silicon valley vcs
If they can't get enough profit from coinbase's trading fees before bitcoin drops to sub $10 or the mining network totally shutdown due to bitcoin price collapse.
If coinbase decides not to change to other cryptocurrencies 2.0 exchange to keep earning fees after bitcoin's failure.
Then investors lose $75 million and bitcoin dies, small losses for them not a big deal at all, DFJ Growth, USAA, NYSE won't give a shit.
Now, it's your turn to suffer financial ruin and lose your $10k or $100k or entire life savings in bitcoin pyramid scheme, will you pay for the lesson for your naive and stupid delusion on this bitcoin ponzi coin?
Why bitcoiners deserve to lose all of their money?
Because they are still trying to sell you their sinking ponzi bags until the incoming final end.
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