BITCOIN IS IN A BUBBLE !!! The true value of Bitcoin is somewhere near ZERO

[HardFacts]

Bitcoin is in a huge BUBBLE, but this does not change the fact that bitcoin has an intrinsic value of zero.   It is possible to trade, and become very wealthy in a bubble     If I could predict Bitcoin's huge price swings, I would absolutely be trading and taking advantage of this.  BUT, be careful, know when to get out because those that are still in Bitcoin will be FINANCIALLY WIPED OUT when the bubble pops.   No one wants to hear that they are investing in a bubble, the very definition of a bubble is that the vast majority of people are ABSOLUTELY WRONG in their investment.  Here are a few reasons why you need to be especially careful in Bitcoin:

1.   The Blockchain is the future of money, YES     But Bitcoin is NOT the blockchain, an infinite number of crypto currencies can be created to use the blockchain.   Back in 1990, the internet was the future, but that does not mean the first internet browser ( Netscape 1.0 ) to use the internet went to 1,000,000 USD, in reality, competition came along and it went to zero...  Just because Bitcoin was the first cryptocurrency means NOTHING.  Anyone want the first cellphone ?  Anyone want to use the first hard disk operating system from the 70's ??

2.   Bitcoin is just Digits on a screen, it is not on the elemental chart.   The only value Bitcoin has is what some greater fool will pay for it.  Once the bubble bursts, and there are no buyers, bitcoin's value becomes zero.

3.   The future of cryptocurrency is most likely to be one backed by gold, or some other real asset.  A crypto backed by NOTHING is not any better than a fiat currency backed by nothing.

4.   It makes no difference how much effort and energy is required to create a bitcoin.  There are a lot of bad investments throughout history where a lot of labor and energy have resulted in bankruptcy and the creation of NOTHING.   The world does not value labor, or wasted computation power, it values CREATION OF WEALTH.  Bitcoin itself is no more wealth than printing a bunch of worthless dollars.

5.   LibraCoin will be MAJOR competition for Bitcoin.  Libra Coin will fulfill the promise of quick, easy, cheap transactions that bitcoin never could.  Transacting in bitcoin is very expensive, and it never lived up to its original potential, so they just kept changing the narrative.  LibraCoin is just the first of many challengers that will appear in the coming years.

6.   Bitcoin is NOT a store of value, it a speculative investment.  No one is buying bitcoin to act as a savings account, the price of bitcoin can swing thousands of dollars in minutes.   GET REAL, everyone is buying bitcoin in the hopes it will go to 1,000,000 USD.   There is no such thing as a free lunch, the greater the reward, the greater the risk.  If Bitcoin can Skyrocket, it can go to zero just as quickly. 

Never invest without considering all the possibilities.   Throughout History, those that are the most blindly convinced of a get rich quick scheme are the ones that are most likely to get wiped out.   

 

[pooya87]

you know where the door is: https://bitcointalk.org/index.php?action=logout
nobody is forcing you to come to a bitcoin forum, buy bitcoin and then complain about it like this which is more like lashing out due to the money you lost because of your bad decision making.
obviously you have very little understanding of bitcoin, what it is and how it works.

[Tipstar]

It's a bit bitter to read but most of the things stated are correct here.
Though I would not agree with the value near zero. The value is provided by supply and demand. For anything to have a value, it doesn't necessarily needs to be backed by materials. It could also be backed by communities. Consider bitcoin as one of the collectibles, collectibles have low production value but with their low supply and community backing, they get much better value.

[sixtyonefourfive]

This is why bitcoin is in a bubble https://bitcoiniscrap.blogspot.com/2019/07/this-is-why-i-am-so-frustrated-with.html

[TryNinja]

Thanks for the text wall, bud. Didn't really read.

Imagine if I went to your house call your family ugly. That wouldn't be cool, huh? So why are you even here if all you want to do is talk shit about Bitcoin?

[mk4]

1. Bitcoin is a protocol. On your example, Bitcoin is the internet(which we still have now), and the internet browser is the 2nd/3rd/4th/5th layer technologies on top of bitcoin.

2. Well, duh, bitcoin is not physical. Of course it's not on the table of elements.

3. A crypto backed by something is centralized, which is entirely pointless. It's an oxymoron.

4. Because people can freely print out some Bitcoin without any cost like they can with fiat money, right?

5. Libra isn't even in competition with Bitcoin. Libra is centralized. It's more of competing against stablecoins and centralized coins like XRP.

6. It's both a store of value and a speculative investment. It's just very volatile due to low liquidity, which is something that can increase overtime as more and more people buy/sell/trade/use bitcoin. Who say's bitcoin was free lunch anyway? Everyone with half a brain knows that price increases aren't ever guaranteed even though we're mostly bullish.

[Johnzky]

Get a life man there is no one you can fool here now,this kind of post and people like you comes out from the grave whenever Bitcoin price experiencing bullish but you’re gone when market is falling

Tell me how much do you want bitcoin price fall so you can purchase?old style strategy that no one will buy,stop it and find more reason to believe for

[joelsamuya]

I am talking this post more than a source of entertainment rather than facts and inspiration. What is funny is that OP is lashing or criticizing Bitcoin heavily and yet on the breathe is also hugely praising Libra which has yet to show what it got and what it can do as well as the many problems that it will also encounter -- that is tantamount comparing a 10-year-old guy with an unborn child still in the womb of his mother. 

[Haunebu]

It's a bit bitter to read but most of the things stated are correct here.

Correct? Firstly, I did not bother reading the entire wall of text since that guy seems to know it all literally(Hard facts)! Secondly, the biggest hard fact that he needs to digest is that no one cares about the bullshit that he is spewing.

Libra is a baby compared to the fully grown Bitcoin and it is pointless comparing the two currently though I like both of them. Funny thing is that majority of these FUDsters follow a pattern(Capitalizing the title, exclamation symbols etc).

[kalostrian]

Bitcoin is backed by everybody having a node.
Libra is not a cryptocoin. Is not decentralized neither using any crypto proof.
Is just another way capitalism is using to fuck us up and wipe out our rights thanks to selfish ignorants like you

[Dreamchaser21]

Doesn't matter right now because a lot of people are making profit, if its bubble then let it burst just know how to save profit for you not to lose everything. I understand your point, and heard many articles about the bubbles  with bitcoin, but until now the price keeps from rising, so again we can listen to anyone but its hard to believe on them. I know bitcoin is a bubble that will continue to up high, with the value of more than you can imagine.

[gentlemand]

Ah, I was wondering when our daily 'I have just arrived here and I SEE things you cannot' post would arrive.

It's more dependable than the trains but at least trains take you somewhere interesting.

[valentin68]

Assume that I come to you tomorrow with some apples. I worked for that apples half of the year, I watered the apple tree, I have done many impossible things 6 months of the year for those apples to grow.

You have some peaches in your garden that I crave for. I am asking you to give some of your peaches, for some of my apples.  Does this mean that my apples do not have value? Maybe there is another person in this world that wants to have my apples and give me some peaches for them.

This is the Bitcoin. 10 years ago someone has invented it. He spent many months trying to make a mathematical demonstration. Then many people from different countries have spent months to make the electronic equipment necessary for the bitcoin to be obtained (for those numbers to exist).

 Then some people went out and spent months to build the buildings very necessary for the electronic equipment to function.

You came and say that these efforts of many people in this world do not have value. What if this people will ask you tomorrow to make the same efforts?

[Lucius]

Well at least OP is not saying that true value of bitcoin is 0, but "somewhere near zero" which is somehow good for most of us, zero is not nice number for me, I like more some other number in front of zero, something like this 100 000 looks really nice

Bitcoin is backed by people trust in first decentralized currency, controlled by all people, not only banks and governments who take advantage of their position to make rich even richer, and to take from the poor that less then 10% of world wealth they currently have.

Libra is one more shitcoin but with huge infrastructure provided by FB and his associates who wants to make more money, it is light years away from idea of bitcoin and has nothing to do with it. Comparing first hard disk, first browser or first cellphone with bitcoin is insane, they all develop and improve with time and people still use them - same as bitcoin development with SegWit or Lightning Network.

~snip~

You will get ban if you continue to promote that token all over the forum...

[Kakmakr]

Oh no, Facebook hiring forum trolls now to shill for their Libra coin? Just shows you how short sighted  and gullible the creator of this thread is. He lists all the negative aspects of Bitcoin and then he praise Facebook's Libra that are built on the same concept. The only difference is that Libra would be backed by a centralized organization with bags of money to fund a major marketing campaign for their new shitcoin.  

Fools like this needs some physical asset or large organisation or even a government to back their so-called true currencies, but they ignore the disadvantages and history of these currencies and how many of them are failing.  

Fiat currencies would have failed more with the previous global financial crisis, but they were bailed out with tax money from the government.  

[Pursuer]

well the "hard facts" (pun intended) is that if you believed in 1% of the things you posted here, you wouldn't have wasted your time jumping through the hoops of creating a new account on bitcointalk and posting this nonsense here!

for instance I believe ETH is a worthless crap but I would never waste my time going on an ethereum forum, opening up a new account and shoving my opinion down their throats! simply because I know it is crap, I stay away from it and never waste my time with it

[HardFacts]

Oh no, Facebook hiring forum trolls now to shill for their Libra coin?
Fiat currencies would have failed more with the previous global financial crisis, but they were bailed out with tax money from the government.  

LIBRA COIN:   A very tiny portion of my post mentioned Libra Coin, it is just one of many factors that will help pop the bitcoin bubble.  I have no  connection to Libra Coin, I just look at reality.

BITCOIN has a lot in common with FIAT currency being that they are both backed by NOTHING.   Yes any currency, be it fiat, or crypto that is backed by NOTHING will always go to zero, that is my entire point 

[DaCryptoRaccoon]

Another x100 bitmex user liquidated?   

Seems the theme right now people lose money then come here and spout absolute crap. 
Good luck holding that paper fiat. did you not know FIAT is the biggest bubble in the world but you use it right?

You are also free to do as you wish and say as you wish but it will fall on deaf ears in this forum and to those who actually understand what it is there are buying.

[HardFacts]

Thanks for the text wall, bud. Didn't really read.

Imagine if I went to your house call your family ugly. That wouldn't be cool, huh? So why are you even here if all you want to do is talk shit about Bitcoin?

I love you guys that believe in freedom of money !!!  I am not here to call you ugly,  I have no ill will towards anyone here,  I am here to tell you that your house is on fire, and to help you...    So if you came to my house, and warned me, and saved me, I would thank you and buy you a steak dinner and a beer   

[Jhony_Jhony]

It is really funny for me.. i can't  believe  that  how could  you say that like? Really it is just for entertainment.. dnt need to take serious anyone..