Why Bitcoin May Soon Be Worth Nothing

[Yaunfitda]

Well a lot of people call Bitcoin fraud and worth nothing, but when the price soaring high they will back and invest in Bitcoin, it's true that Bitcoin is not being backed up by anything, but the one that makes Bitcoin valuable because of the people's support, most people interested in Bitcoin because it got unique feature and it can be used as currency and asset

I think everyone should be really be careful of those articles circulating around. Well the only argument that keeps popping is not bitcoin is not back up by anything and based on pure speculation. But guess what, they are also speculating on the price. Lol. How ironic. They kept saying that bitcoin will down, blah, blah but behind they have their own agenda, buy it when the price really hit rock bottom because they really know that bitcoin and crypto can offer, big potential money. How ironic.!!!

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[entrepmind23]

Well a lot of people call Bitcoin fraud and worth nothing, but when the price soaring high they will back and invest in Bitcoin, it's true that Bitcoin is not being backed up by anything, but the one that makes Bitcoin valuable because of the people's support, most people interested in Bitcoin because it got unique feature and it can be used as currency and asset

The worth of something still depends on how people would perceive it. It is about supply and demand because one thing may be valuable in one place but in another it may be nothing so it would depend on how people would value something. Even if there are many people who would say that bitcoin is worth nothing, if there are still people who are willing to buy it then it would still have worth because it has a demand. With the increasing adoption of cryptocurrency, I don't think bitcoin would be worth nothing sooner since it is the king of cryptocurrency and no coin has stolen its position yet.

[BitcoinNewbie15]

I can never understand the naysayers of Bitcoin. It's like there is almost literally no reason to dislike Bitcoin so strongly. You can't just call it a ponzi scheme, then put your fingers in your ears and say "lalalalalala" and hope it crashes to $0. These people will be waiting forever. I bet the dude that wrote this article has been waiting for Bitcoin to crash to $0 since Bitcoin hit parity with the dollar.

Why do people call Bitcoin a pyramid or Ponzi scheme? Bitcoin doesn't fit under the definition of any of these scams. Because of that, you can't call Bitcoin something it very obviously is not. That just shows you have no argument against Bitcoin in the first place. Right now the only argument naysayers grab onto is "It's a ponzi that uses too much electricity!1!1!!!". Really, are all the naysayers hardcore environmentalists? Yeah lol, I doubt they worry about energy consumption anywhere else.  They only like to pick on Bitcoin... Why?

Because they missed out maybe?

Don't get me wrong, Bitcoin does use a lot of energy, but it's so blown out of proportion it's ridiculous. Compare Bitcoins energy consumption to all of the industries Bitcoin is disrupting. It is just a drop in the bucket. Why aren't they complaining about this if they care about energy consumption so much?

[kcryptoinvest]

I can never understand the naysayers of Bitcoin. It's like there is almost literally no reason to dislike Bitcoin so strongly. You can't just call it a ponzi scheme, then put your fingers in your ears and say "lalalalalala" and hope it crashes to $0. These people will be waiting forever. I bet the dude that wrote this article has been waiting for Bitcoin to crash to $0 since Bitcoin hit parity with the dollar.

Why do people call Bitcoin a pyramid or Ponzi scheme? Bitcoin doesn't fit under the definition of any of these scams. Because of that, you can't call Bitcoin something it very obviously is not. That just shows you have no argument against Bitcoin in the first place. Right now the only argument naysayers grab onto is "It's a ponzi that uses too much electricity!1!1!!!". Really, are all the naysayers hardcore environmentalists? Yeah lol, I doubt they worry about energy consumption anywhere else.  They only like to pick on Bitcoin... Why?

Because they missed out maybe?

Don't get me wrong, Bitcoin does use a lot of energy, but it's so blown out of proportion it's ridiculous. Compare Bitcoins energy consumption to all of the industries Bitcoin is disrupting. It is just a drop in the bucket. Why aren't they complaining about this if they care about energy consumption so much?

You bet buddy!
For me it's looks the same.
I also want to say that the process is already going and you can't stop it. All this ICO, cryptocoins, smartcontracts etc. You can't stop it.
And also you can't stop it because it can decide a lot of problems in our world.
For someone of course it will not a good idea but for as usual people it will help a lot.

[Oilacris]

This article has about the same amount of substance to back up his opinion as the ones on many sites that claim that BTC will be worth <insert random made up super $ amount> and goes to show you that there are those on both sides of the BTC value that just espouse speculative value to espouse speculative value.

Why bitcoin may soon be worth nothing:

​
I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away.

Bitcoin’s 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 it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.

Got it! Ponzi scheme. Confidence game. Fraud.

Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.

Source: https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/

Just as expected and we can really read up positive and negative words from different side. Some would be optimistic and some would be negative at all times. We do have our own will to judge but I would ask you this. Why you are on this forum by the way? This is a bitcoin forum and if you don't trust up btc itself then this forum wont suited you out.
As a bitcoin enthusiast we do able to know on whats the risk behind and its movement so its not really surprising at all as long you can utilize the volatility you can make money.

[Kurokyy]

This article has about the same amount of substance to back up his opinion as the ones on many sites that claim that BTC will be worth <insert random made up super $ amount> and goes to show you that there are those on both sides of the BTC value that just espouse speculative value to espouse speculative value.

Why bitcoin may soon be worth nothing:

​
I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away.

Bitcoin’s 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 it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.

Got it! Ponzi scheme. Confidence game. Fraud.

Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.

Source: https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/

Saying that bitcoins will be worth nothing just because of an article is a very bad way to believe on because you should conduct your own research in order to get legitimate informations.

[Shinpako09]

Just because he made a statement to back up his opinion doesn't mean it was true. Not all evidence were true. That is just a silly prediction that want to cause others mind confusion. You'd be a fool if you get easily believed in such kind of trap.

[tomsmith26]

Once we can find out something better than bitcoin the it will be soon worth nothing to talk but this fact will not be able to happen in our world at least 10 centuries .  

[sevenjoy]

Well a lot of people call Bitcoin fraud and worth nothing, but when the price soaring high they will back and invest in Bitcoin, it's true that Bitcoin is not being backed up by anything, but the one that makes Bitcoin valuable because of the people's support, most people interested in Bitcoin because it got unique feature and it can be used as currency and asset

Every person has their own opinion. MY own opinion is that bitcoin is the best ever currency of the world. I think that very soon bitcoin is going to become a legal currency throughout the world. Bitcoin is going to become popular even in backward countries, even there we can see people taking interest in bitcoin. I think that their interest in bitcoin will continue and very soon bitcoin will become the world most popular currency of the world.

[puremage111]

These article will always be there and people would always call or name Crypto as "Another type of MLM schemes" because whenever people stop buying, it price wouldn't move
Well, for me Bitcoin is more of something like an Artwork type of investment

It does not have a fix value, unlike products which people can set hey lets sell this for $5 and people buy for $5
Crypto are not the same, it will only have value when people think it have value, that's the main point of why Bitcoin can be worth few thousand or even 20 thousand

[eaglewhite80]

Well a lot of people call Bitcoin fraud and worth nothing, but when the price soaring high they will back and invest in Bitcoin, it's true that Bitcoin is not being backed up by anything, but the one that makes Bitcoin valuable because of the people's support, most people interested in Bitcoin because it got unique feature and it can be used as currency and asset

Every person has their own opinion. MY own opinion is that bitcoin is the best ever currency of the world. I think that very soon bitcoin is going to become a legal currency throughout the world. Bitcoin is going to become popular even in backward countries, even there we can see people taking interest in bitcoin. I think that their interest in bitcoin will continue and very soon bitcoin will become the world most popular currency of the world.

Sure, except that some opinion are absolutely B.S and the only thing that has no value is the article since obviously the author could not sit down to get to know the value that bitcoin actually brings. Maybe and just maybe he feels fiat does not have any value as well, since from all angle, the value that bitcoin brings is far more than what fiat has ever brought in so many years of its existence. What perturbs me is people or journalists with no clue coming out to embarrass themselves.

[burnchan]

This article has about the same amount of substance to back up his opinion as the ones on many sites that claim that BTC will be worth <insert random made up super $ amount> and goes to show you that there are those on both sides of the BTC value that just espouse speculative value to espouse speculative value.

Why bitcoin may soon be worth nothing:

​
I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away.

Bitcoin’s 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 it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.

Got it! Ponzi scheme. Confidence game. Fraud.

Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.

Source: https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/

It would be easy to criticize something without knowing. Writing against something needs to have a solid data to convince the audience. How can it be worth nothing were in fact it highly in demand? It will be worth nothing if nobody believes in the technology. Fake news is also rampant these days.  So it is important to read from a reliable source.

[Fatanut]

This article has about the same amount of substance to back up his opinion as the ones on many sites that claim that BTC will be worth <insert random made up super $ amount> and goes to show you that there are those on both sides of the BTC value that just espouse speculative value to espouse speculative value.

Why bitcoin may soon be worth nothing:

​
I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away.

Bitcoin’s 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 it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.

Got it! Ponzi scheme. Confidence game. Fraud.

Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.

Source: https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/

It would be easy to criticize something without knowing. Writing against something needs to have a solid data to convince the audience. How can it be worth nothing were in fact it highly in demand? It will be worth nothing if nobody believes in the technology. Fake news is also rampant these days.  So it is important to read from a reliable source.

The thing is though, the writer of this doesn't need for us to believe it. He doesn't have to convince the audience at all. They only have to make the audience intrigued enough to click the link and maybe even read it. Making the audience share it to other people will mean the world to the writer as he/she is getting more revenue from this. More clicks, more money for them. The usual "Bitcoin is the future" isn't gaining that much attention anymore. Thus, writers are writing about how bitcoin is worth zero. I just sold some of my bitcoins. Last time I checked, bitcoin isn't worth cheap, it's worth a lot. It's worth far from nothing.

I don't understand his point of claiming that bitcoin will be worth nothing because it's not backed by anything. Fiat money isn't backed by anything too. It WAS backed by gold, but not anymore, yet here we are. We still have fiat money. We have not got rid of it after centuries. Bitcoin is a medium. We use it to transact with each other quickly and cheaply. We are giving bitcoin value because it can do something. It's utilitarian.

[audaciousbeing]

This article has about the same amount of substance to back up his opinion as the ones on many sites that claim that BTC will be worth <insert random made up super $ amount> and goes to show you that there are those on both sides of the BTC value that just espouse speculative value to espouse speculative value.

Why bitcoin may soon be worth nothing:

​
I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away.

Bitcoin’s 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 it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.

Got it! Ponzi scheme. Confidence game. Fraud.

Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.

Source: https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/

You have done well in that even if you are an enthusiast, for the mere fact of bring such discouraging news to the forum shows that you are doing more in promoting the prediction of the article than you imagine as this could cause a spike in the mind of one newbie that is trying hard to get a footing and for a article to have been linked to New York times would give it the publicity and credibility to cause the intended panic of the writer. I am however glad that since the time this was posted, the market has rendered this impotent just like every other article that have been written against the continued popularity of bitcoin and when we face another downward there would be more of this and we will still prove them wrong.

[Naficopa]

This article has about the same amount of substance to back up his opinion as the ones on many sites that claim that BTC will be worth <insert random made up super $ amount> and goes to show you that there are those on both sides of the BTC value that just espouse speculative value to espouse speculative value.

Why bitcoin may soon be worth nothing:

​
I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away.

Bitcoin’s 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 it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.

Got it! Ponzi scheme. Confidence game. Fraud.

Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.

Source: https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/

Saying that bitcoins will be worth nothing just because of an article is a very bad way to believe on because you should conduct your own research in order to get legitimate informations.

Another article about nothing. If it can be called an article at all. This statement is not supported by any facts. The price has fallen so it is a scam - the whole view of the author.

[balamuda]

This article has about the same amount of substance to back up his opinion as the ones on many sites that claim that BTC will be worth <insert random made up super $ amount> and goes to show you that there are those on both sides of the BTC value that just espouse speculative value to espouse speculative value.

Why bitcoin may soon be worth nothing:

​
I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away.

Bitcoin’s 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 it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.

Got it! Ponzi scheme. Confidence game. Fraud.

Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.

Source: https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/

It depends on trust, people will say bitcoin will not be worth anything if he doesn't like or don't believe in bitcoin, and otherwise bitcoin is the best crypto coin that will grow in the future for those who believe in bitcoin. It all depends on trust, but if we look at the crypto market that bitcoin becomes the highest, I think bitcoin will continue to be of high value.

[miyaka26]

This is not a decent article that explains nothing other than a personal agenda or criticism against bitcoin I saw a lot of articles from them about bitcoin and most of them are just like this one, typical one that says bitcoin is a fake currency, fraud, nothing backs it, Ponzi and more that it clearly shows what their understanding about bitcoin, they are waiting to fade it away?

[wxa7115]

This article has about the same amount of substance to back up his opinion as the ones on many sites that claim that BTC will be worth <insert random made up super $ amount> and goes to show you that there are those on both sides of the BTC value that just espouse speculative value to espouse speculative value.

Why bitcoin may soon be worth nothing:

​
I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away.

Bitcoin’s 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 it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.

Got it! Ponzi scheme. Confidence game. Fraud.

Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.

Source: https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/

Not really, you claim that the article has as many substance than those that claim that bitcoin can reach a particular price, but those that think that a particular price is possible at least have the technology of bitcoin on their side, the people that say that bitcoin going to be worth nothing is because they think bitcoin is a confidence game, if that is true then fiat suffers from the same weakness with the difference that bitcoin is superior to fiat in almost every aspect except adoption.

If the people around the world lost confidence on the dollar and the credit of the US the dollar will collapse in a matter of days, this is not true for bitcoin because at least there is the blockchain behind it that is a tamperproof method to record the transactions that have occurred over the network.