Why Bitcoin May Soon Be Worth Nothing

[alexey14]

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/

[1715190098]

1715190098

[1715190098]

1715190098

[ikilledcobain]

Yeah, I saw this 'article' show up in my Google news feed this morning. I think it's just click bait because the actual text isn't very long and doesn't give any explanation. He just opens the article up, calls bitcoin a few names, and then leaves. More than likely it's just an attempt to generate web traffic because it's piss poor journalism.

People that don't think btc has intrinsic value don't understand the revolution made possible by the technology behind it.

[darkangel11]

I love countering poor journalism and what we have here is a prime example.

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.

And it's worth over 300% more than it was exactly 1 year ago. If you want to be objective, you should present describe it from every angle, not just one.

I use the term “worth” cautiously because bitcoin is really worth nothing, since it’s backed by nothing or no one.

Statements like this one show that the author has no understanding of value. Personal view doesn't matter when it comes to value, the vote is in the hands of the majority.
For one person a bottle of old wine can be worth $100 at the most, but there are people who are willing to buy it for $1000. This makes that bottle worth $1000, despite what that one guy thinks of it.

[stompix]

From the same author:

Proof that bitcoin still can't be trusted - New York Post
Bitcoin proving to be nothing more than a con - New York Post
It’s about time someone called out bitcoin for what it is
Why bitcoins may not be such a safe investment - New York Post
Dear John: Once again — Bitcoin is a joke - New York Post
Bitcoin fan isn’t happy I said the ‘currency’ was a joke
Bitcoin market may be financing North Korea after sanctions
Which of these asset bubbles will pop first?

Oh, just give it a rest!!!!!!
When you post every week one article against bitcoin is clearly you have an agenda, this is no longer about personal opinion

Same for the OP, alexey14, just stop it:
https://bitcointalk.org/index.php?action=profile;threads;u=893146;sa=showPosts

[cyruh203]

People that don't think btc has intrinsic value don't understand the revolution made possible by the technology behind it.

exactly, the written articles is very short and hanging. he/she called bitcoin is a fonzi scheme and fraud without any explanation why he/she call it that way. the author of that article just look after the value of btc but don't understand the technology behind it .

[pehatas]

The opinion expressed by the author in his article is absolutely no better than all those who write about the cryptocurrency. Therefore, I think that it is not necessary to attach special importance to this article. Bitcoin is eternal.

[Slow death]

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.

that is all?

you did not use convincing arguments and you do not show some basis for this very serious charge, you are making a very serious charge and you do not show convincing evidence. No one will take you seriously and about bitcoin is not worth anything, you are wrong, In the future bitcoin will be worth much more, there are many countries and people that will use bitcoin.

Ponzi scheme. Fraud.

Proof?

[shark69]

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/

I think personally, his job news is just to give a blow about negative and positive from bitcoin. This is why there is a lot of controversy about bitcoin, if you want to see from 2009 bitcoin prices until now have a good progress. In the future I'm sure bitcoin will be worth more than the present price because of the technology.

[kier010]

i my country journalist or any media station always report the fake news and the bad news. they will not focus on the good news. the same as bitcoin many will ride its popularity and make bad statement to get attention and views.

[gesdan]

as we know all bitcoin price and the other cryptocurrencies is still depends on the demand of the user, because as we can see that bitcoin and cryptocurrencies is used by small people so the demand of bitcoin is changed every time, it will be different if the bitcoin is used by all people in the world, the price of bitcoin will more stable than the bitcoin price right now

[mary0919]

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/

I do not really believe if bitcoin will soon to be worth nothing because all of this crypto business will become nothing without bitcoin. This situation maybe  happen when there is no one buying bitcoins and all of us will do no more business with bitcoin but for me it is very impossible to happen as time goes by a lot of people are trying to know about bitcoin business.

[EffahTom]

Bitcoin users are  continuously increasing in numbers. More investors are coming up. Bitcoin will never be worthless!

[bedulook]

Those people claiming bitcoins will be worth nothing soon are those without a penny invested in it discouraging people from acquiring it or those that hold bitcoins but sold off and expecting others to lose their own too.

[dothebeats]

Ha! I can easily recreate an article just as this one explaining why USD may soon be worth nothing. It's also only a confidence game and when people's confidence is gone about it, see how high the fall would be. Mind you, USD isn't backed by anything except the US gov't which is still up to now pumping money on their economy relentlessly. That in itself suggests that it's losing value a lot faster than normal inflation. As for bitcoin, many of these 'writers' only look at the way how bitcoin fell from an artificially-made price which bitcoin users know would not hold for long. Similar articles appeared after the 2013 ATH lost momentum, but where are we right now?

[pimkobai]

I totally disagree with ths thread subject since this is just to make baseless opinion that can discredit btc to the bitcoin community. In my opinion, people should familarize and study more about bitcoin to become successful with your involvement with bitcoin investment. People also should understand that fluctuations is normal in the crypto market due to it's volatility in nature.

[hidden_legend]

In my opinion banks all over world are trying to degrade bitcoin and other cryptocurrencies.They speculate mostly negative views about cryptocurrencies and investment in them.Still only few % of people in world know about the benefits of blockchain technology and uses them in their daily life.There are few drawbacks like regulation etc but with blockchain technology this cryptocurrency market will rock very soon and Bitcoin is the first digital currency so its price will rise with awareness and demand as we progress further.

[nikki4]

Just like some people here in the crypto currency community that loves Bitcoin so much, I disagree with what it said that the Bitcoin may soon be worth nothing. Why? Because in today's day, the current situation is rapidly changing because of our fast growing community that almost everything around us is surrounded by digital technologies. And the Bitcoin is just just at its downfall but not die. Sooner or later the price of the Bitcoin will rise again and turn back the normal state of the community's prosperity.

[malibogako2018]

I don't think if Bitcoin will be worth nothing due of bitcoin is very popular now and Banks want to remove bitcoin existence cause they are afraid that they might replace bitcoin soon so they're making articles to degrade bitcoin. I believe that bitcoin will more valuable in the future so better to hold bitcoin now.

[Al-e_x]

bitcoin is not valuable, meaning bitcoin will die. do you think this market condition is a sign of bitcoin will be destroyed quickly?

finally, we can not accept bitcoin death, because bitcoin volatility always creates a bullish market, we just wait time.

your topic has no strong foundation, so your topic is just making speculation without conclusion.

[Pursuer]

it seems like these days people keep sharing their wishes and call them "analysis" and pretend their wish is a prediction of the future. if for example they wish for the price to come down so they can buy to make profit then they say price will fall and then try to come up with any reason they can think of to back it up. the same is true with the ridiculous rises but at least "rise" is more realistic than these doomsday topics because rise will eventually happen.