Brace yourselves HODLers. After watching this clip, you’re gonna want to kill yourselves.
Nouriel Roubini, aka Dr. Doom, is out pouring salt on the wounds today, declaring Bitcoin to be far worse than the tulip mania. In fact, he declared it was the ‘biggest bubble of all-time’, unmatched by its sheer perversion of the laws of finance taught at NYU. Moreover, and finally, he said “the fundamental value of Bitcoin is zero.”
Watch.
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Uh, that’s usually a buy signal.
Really?? Look at this chart and reexamine your premise.
https://tinyurl.com/ybzojkha
All these US based people see is “Bitcoin” is a bubble, horrible “currency” nothing but speculation for gamblers and lazy get rich bastards.
What they FAIL to realize is that cryptocurrency has allowed people in unbanked situations to have the potential to have purchasing power. If you are a woman in certain countries, you can’t be paid for your work. In order to open a bank account your father, husband, brother, some male must be the account holder. Maybe you as a women might be that money. Maybe not.
If you were a women in said country, how would you be paid for your work, have savings and be able to leave if you could where you have something vs fleeing with absolutely nothing?
Bitcoin.. it allows payment to people who otherwise cannnot get into traditional closed systems.
Being in the United States this is so foreign. If you are unbanked here, it’s by choice.
Not so much in other countries. So it has a lot of value to people beyond speculators.
Burn it to the ground baby.
wonder when Goldman ball Sachs will start buying in bulk
Marc,
How does someone who is unbaknked purcahse bitcoins? Buy $10k of hardware and start mining?
They could do work for a company and be paid in crypto.
Roubini is irrelevant. He’s learned one way of doing things and cannot get his head around the fact that the world is changing. That said, I don’t think Bitcoin is the ultimate answer as it is a highly flawed technically and has zero utility. Digital gold? That’s bullshit.
Some of the benefits of digital/crypto currencies are real for third worlders and that cannot be ignored but again, I don’t see BTC as the ultimate answer, even for them. Too slow, too expensive, etc.
Better to invest in the tokens that support a particular technology using blockchain such as NEO, EOS, or a number of others. Governments won’t necessarily try to kill those as they don’t compete with central bank fiat. Ethereum is shit and that will be proven in due time when they are killed off by EOS and NEO.
” don’t see BTC as the ultimate answer, even for them. Too slow, too expensive, etc.”
Exactly. The only think BTC has going for it is the name recognition and momentum that goes with their first-mover advantage.
However, NEO/GAS seemes to have the same weaknesses as BTC because blocks are generated in a similar manner, with decreasing minign awrds through time. http://docs.neo.org/en-us/index.html
buy all weed an crypto together…..im thinking POT coin brings the best of both worlds together