Cryptocurrency has potential to cause crash similar to 2008
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Aug 26, 2017
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also there are red boxes around huge parts of this paper, if any one knows what that means it would b great to know
No one wants to sell because they think it is going to make them a millionaire. At the same time no one is really using bitcoin for transaction except for criminal activity.
It is just a pyramid scheme. All the people that got in early will make a fortune at the expense of all the johnny come lately's who will lose a fortune. All of the bitcoin investors have to try and convince others to come in and buy to keep the pyramid sustaining.
One day the music will stop, the bottom falls out of bitcoin, and only people who were smart enough to sell walk away with a profit.
The funny part will be all the people who thought they were a genius for investing in bitcoin will then feel stupid and embarrassed.
That's definitely not true. There's many millions of dollars of BTC => real goods every day (see overstock.com, VPNs, other physical commodity firms accepting bitcoin as payment).
Yes they are accepting payment but almost no one is using it for payment.
The extent of bitcoin transactions are illegal activity and speculative gambling.
When the music stops a lot of fools will be left without a chair.
Indeed, I have a lot of friends trading and getting income from BTC every day. I think, it is necessary to pay attention at the real value of such type work. And what can help you to get income from trading, as well.
Tulips are better comparison imo.
about cryptos being a bubble...duh.
about it causing a financial crisis similar to 2008, you clearly don't understand financial crises. if crypto crashes, it won't even cause a 20% stock market decline.
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It’s interesting to compare the value of crypto to total money supply. At bitcoin peak it implies a few pts of depreciation the dollar!
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