Le Bitcoin est déjà mort… 203 fois. Les détenteurs de BTC seraient-ils tombés sur la tête ?
Merci à 99Bitcoins.com pour nous avoir permis de retrouver ces différentes citations, et avoir ainsi pu les mettre à la disposition de la communauté francophone.
Elles seront très prochainement traduites dans leur ensemble.
Morts par année
2017 : 85
2016 : 28
2015 : 39
2014 : 28
2013 : 15
2012 : 1
2011 : 6
2010 : 1
Nécrologie du Bitcoin
“Il existe une faille ‘fatale’ dans les crypto-monnaies, à cause de laquelle elles ne pourront jamais constituer de véritables monnaies” – Business Insider | 10 048,88 $
“Le problème auquel sont confrontées les crypto-monnaies, c’est qu’il leur manque deux caractéristiques clés qui font qu’une monnaie est une monnaie,” a affirmé Paul Donovan. “Une monnaie doit pouvoir être utilisée comme un moyen d’échange. Les crypto-monnaies ne seront jamais capable de permettre cela. Un point c’est tout.” – “Le problème fatal des crypto-monnaies, c’est que leur offre ne peut qu’augmenter,” a-t-il expliqué. “Il existe un potentiel d’augmentation illimité pour l’offre des crypto-monnaies.”
Derek Thompson : “It has not transformed the economy of today. While the number of bitcoin transactions is growing every year, it’s nothing close to a mass-market consumer technology, like Google, or Netflix, or even PayPal. Bitcoin remains cumbersome to use (the typical transaction can take up to 10 minutes) and the price is extremely volatile. It is, for now, a frankly terrible currency built on top of a potential transformative technology.”
“Pour Joseph Stiglitz, prix Nobel d’économie, ‘le Bitcoin devrait être interdit’” – Bloomberg | 9 972,67 $
“Il me semble que cela devrait être rendu illégal,” a expliqué M. Joesph Stiglitz à la chaîne de télévision Bloomberg, au cours d’un entretien avec Francine Lacqua et Tom Keen. “Les crypto-monnaies n’ont aucune utilité sociale.”
It’s been a puzzle to explain why bitcoin’s gone parabolic. Why would we expect the way down to be any different? The practical applications for cryptocurrencies to facilitate legal commerce appear hampered by relatively expensive transaction fees and the high energy costs associated with mining at this juncture. On this note, Nobel Prize-winning economist Joseph Stiglitz said that bitcoin “ought to be outlawed” because “it doesn’t serve any socially useful function.” Former Fed Chairman Alan Greenspan has said that “you have to really stretch your imagination to infer what the intrinsic value of bitcoin is,” calling the cryptocurrency a “bubble.” Perhaps it could end like the dot-com bubble — with investors who have no clue how to value high-flying assets fleeing for the exit en masse.
“La flambée du cours du Bitcoin pourrait continuer – mais ne serait-elle pas plus liées à quelques ‘dropouts’ qu’à des fondamentaux ?” – MarketWatch | 9 096,37 $
Dr. Constantin Gurdgiev : “Bitcoin looks like a sure bubble — a disaster waiting to happen… So bitcoin, then. A bubble or not? If you ignore the arguments that attempt to justify its valuations, it looks like one, albeit with dynamics that are very hard to interpret. If you listen to them, it looks that way even more, with more confidence in the arguments’ bogus nature. Draw your own final conclusions.”
“Hey les idiots – Vous allez perdre tout votre argent à cause du Bitcoin, bande d’idiots” – Splinter | 9 666,23 $
Hamilton Nolan : “Le Bitcoin constitue fondamentalement une escroquerie. Être-vous en mesure d’expliquer ce que c’est ? ‘Un jargon blockchain qui ne veut strictement rien dire’. Tout ce dont nous pouvons être sûrs concernant ce ‘coin’ imaginaire, c’est qu’il va vous coûter très cher… Et ensuite il y a les idiots – comme vous – qui disent, ‘Où est-ce que je peux acheter du ‘Bitcoin’ pour devenir riche, comme tous mes amis ‘gamers’ ? Un homme sage avait déclaré : ‘Ce qui monte doit nécessairement redescendre’, et un autre, encore plus sage, avait dit ‘Tout ce ‘truc Bitcoin’ est une imposture.’ Ce n’est pas réel”
“Il est temps de vendre vos Bitcoins. Le succès des crypto-monnaies constitue une bulle. Les banques centrales du monde entier lancent un avertissement” – Financial Express | 9 096,37 $
Les banques centrales expliquent que le succès du Bitcoin et des autres crypto-monnaies ne constitue rien d’autre qu’une bulle […] “Le problème avec le Bitcoin, c’est qu’il pourrait facilement provoquer la chute des banques centrales, qui seraient alors accusées de ne rien avoir fait pour l’en empêcher” a expliqué Ewald Nowotny à Reuters. […] Pour Hiromi Yamaoka, directeur général du département des systèmes de paiements au sein de la Banque du Japon, même si cette technologie révolutionne le secteur bancaire, les monnaies numériques ne remplaceront par l’argent physique. “Il est encore bien trop tôt” a-t-il déclaré.
“La flambée du cours du Bitcoin pourrait se poursuivre — mais elle ne doit-elle pas plus à des ‘high-school dropouts’ qu’à ses fondamentaux ?” – MarketWatch | 9 096,37 $
Dr. Constantin Gurdgiev : “Le Bitcoin est une bulle, c’est certain — un désastre qui est sur le point de se produire[…]
Aucun investisseur ou analyste sérieux n’a été en mesure de proposer pour le Bitcoin un modèle de valorisation basé sur des fondamentaux […]
Alors, le Bitcoin, une bulle ou non ? Si vous ignorez les arguments de ceux qui cherchent à justifier son prix, cela ressemble à une bulle, même si sa dynamique reste particulièrement complexe à interpréter. Si vous les écoutez, cela ressemble encore plus à une bulle […]”
James Howard Kunstler : “I’m not so sanguine about Bitcoin’s supposed impregnability, nor about many of its other appealing claims. The Mt. Gox affair of 2014 must be forgotten now, but back then some sharpie hacked 850,000 Bitcoins (valued over $450,000,000) out of the exchange, which was processing almost two-thirds of all the Bitcoin trades in the world. Mt. Gox went out of business. Bitcoin tanked and then traded sideways for three years until (coincidentally?) the Golden Golem of Greatness was elected Leader of the Free World. Hmmmm….. If Bitcoin were to keep rising to $1,000,000 per unit, as many investors hope and pray, there wouldn’t be enough electric power in the world to keep it going…. I’m not convinced that crypto-currencies are beyond the clutches of government, either. Around the world, in their campaign to digitize all money, there must be a deep interest in either hijiking existing block-chains, or creating official government Bit-monies to seal the deal of total control over financial transactions they seek…. My personal take on the phenomenon is that it represents the high point of techno-narcissism — the idea that technology is now so magical that it over-rides the laws of physics. That, for me, would be the loudest “sell” signal.”
“L’avis du Guardian au sujet des crypto-monnaies : la blockchain des imbéciles” – The Guardian | 8 196,15 $
The corresponding moment for the cryptocurrency bubble will only be discernible in retrospect, but we have some pretty strong candidates already…. The notional price of the main cryptocurrencies continues to shoot upwards in a way that makes nonsense of the idea that they have any value as a medium of exchange. Even if they were widely accepted by legal merchants, it would at the moment be lunatic to exchange them for anything but real money. Bitcoin itself is trading at more than $8,000, more than 10 times its price a year ago, and more than double what it was three months ago. Since it is only widely used as a currency in drug deals or for ransom payments, there is either a huge boom in criminal activities outside the world of cryptocurrencies, or one within unregulated exchanges where these tokens are traded.
Elena Stark : “The reasons why Bitcoin cannot succeed in the long run go so much deeper than that. Just like any other speculative asset, no one really knows what is going to happen in the future. However, when one looks at the big picture, it becomes clear that Bitcoin will struggle to survive.”
Abhishek Parajuli : “The constant fluctuations also mean Bitcoin cannot be used to price goods. And it is worthless as a medium of exchange as hardly anyone accepts it and even when they do, it costs up to $12 per transaction and can take hours to clear. … So, hype aside, Bitcoins are lottery tickets. They have no underlying utility. When the music stops, those left holding them will be burned.”
Deadal Nix : “Bitcoin is dead. It was split in two. There is bitcoin cash, and bitcoin core/legacy. Deal with it.”
“Voici pourquoi le Bitcoin va emprunter la même route que celle des tulipes” – Financial Review | 7 058,75 $
Elmer Funke Kupper : “At a more fundamental level, we should wonder why Bitcoin exists at all. There is no reason. We can already trade almost anything that is legal over the internet and pay for it in various ways. It’s fast, convenient, inexpensive and quite safe.” “We can predict the collapse of the value of Bitcoin, even when it may rise for a little while longer. The introduction of exchange-traded futures may signal the start of this process. Give it a year, maybe less. Bitcoin will become a case study for economics students, teaching them about irrational crowd behaviour.” The backbone technology is real and its value to consumers is real. And therefore, it will survive. Bitcoin as a digital “currency”, won’t.
“CIO de la Japan Post Bank : le Bitcoin est une bulle, mais nous ne prévoyons pas de le ‘shorter'” – Reuters | 7 058,75 $
Katsunori Sago : Bitcoin BTC=BTSP is in a bubble and its fair value should be around $100, or about 99 percent below the current level, Katsunori Sago, chief investment officer of Japan Post Bank (7182.T) said on Thursday. Sago noted that blockchain is a great technology and one day bitcoin could become a major means of settlement. “But that will be years away, possibly more than a decade — so there’s no need to buy bitcoin now. Since no one knows when the bubble will burst, the best thing to do here is to stay away from it,” he said.
“Le prix du Bitcoin va chuter à zéro, alors que le Bitcoin peine à rester la première des crypto-monnaies” – Seeking Alpha | 6 598,05 $
Ruzbeh Bacha : “Blockchain has plenty of uses outside cryptos (smart contracts embedded in Ethereum are one such example), but Bitcoin probably won’t be the reigning technology in the future.”
“L’une des plus grandes banques d’Asie accuse le Bitcoin d’être une ‘combine à la Ponzi’” – CNBC | 6,354,90 $
We see bitcoin as a bit of a Ponzi scheme,” David Gledhill, group chief information officer and head of group technology and operations at DBS, told CNBC on Wednesday. Bitcoin transactions are “incredibly expensive” and “all the fees are hidden through the crypto-mechanisms,” he said on the sidelines of the Singapore Fintech Festival. “We don’t think DBS being in that game right now is going to create a competitive advantage for us.
“Pour l’économiste Nouriel Roubini, le Bitcoin constitue une gigantesque bulle spéculative”– Business Insider | 7 143,47 $
…bitcoin and other cryptocurrencies – this is something entirely different. In my opinion, there is a gigantic speculative bubble related to the bitcoin… …Because this is neither a serious method of payment nor a good way to store capital. The bitcoin feeds on itself. There are no fundamental reasons for its price to reach such levels. What’s more – it is also used by criminals, for their shady business. I think that more and more countries will start to make cryptocurrency exchanges illegal like China did. New regulations will be adopted. So, this will find its end.
“Pour le DG de la Société Générale, ‘le Bitcoin n’a aucun avenir du fait de son caractère anonyme’” – CNBC | $7 274,11 $
Frédéric Oudéa : “I can’t see a future of this when I see the attention played by all governments and regulators on anti-money laundering, on anti-tax evasion, on anti-terrorism financing. The anonymity of the transaction is a problem I think which would put pressure on bitcoin.”… Oudea said he was “not convinced” digital currencies would “see any development.”
“Le Bitcoin va prendre un chemin identique à celui de toutes les bulles de l’histoire” – Telegraph | 7 265,15 $
Tom Stevenson : “I’m not even terribly sure what bitcoin is: a currency or a commodity? It sounds like the former but it fails to exhibit the essential characteristics of money. It can hardly be viewed as a store of value. That requires at least a modicum of stability. Unlike the pound in my pocket, however, I can have no idea what a bitcoin will be worth tomorrow or in a year’s time. That, in turn, reduces its value as a unit of account. Why would another individual be prepared to accept my bitcoin for a good or service when its future value is so uncertain; for the same reason, why would I want to spend my volatile bitcoin rather than hoard it in the hope of further appreciation. So bitcoin is a poor currency…..When it comes to bitcoin, people really are buying it solely because they expect other people to take it off them later for an even higher price. There is no better definition of the greater fool theory than this…. But I’m prepared to wait and see. I will not be risking my savings on what looks remarkably like the tulip mania of the 1630s… Warren Buffett also famously warned against investing in businesses you cannot understand. If ever there were an investment that fits this description, bitcoin is surely it…. While bitcoin is soaring, the greater fools look like those of us refusing to follow the siren calls of the latter-day shoeshine boys. Like Joe Kennedy, however, I’m pretty relaxed about who will have the last laugh. What goes up like a rocket comes down like a stick.”
“Pour le DG du Crédit Suisse, ‘le Bitcoin correspond à la définition même d’une bulle’” – Bloomberg | 6 533,72 $
Tidjane Thaim : “From what we can identify, the only reason today to buy or sell bitcoin is to make money, which is the very definition of speculation and the very definition of a bubble,” he said at a news conference in Zurich Thursday. He added that in the history of finance, such speculation has “rarely led to a happy end.”
Buttonwood : People are buying Bitcoin because they expect other people to buy it from them at a higher price; the definition of the greater fool theory. …When the crash comes, and it cannot be too far away, it will be dramatic.
“Représentante de l’université de UCLA : le Bitcoin est un schéma de ponzi qui gaspille de l’énergie” – UCLA | $5,912.60
Ivo Welch : “Digital currencies, in their current form, should be prohibited by law. And not because they are a Ponzi scheme (which they are), and not because they can help facilitate criminal activity (which they do), but because they incur colossal social waste…. An important part of the deception is that mining is mathematically guaranteed to become ever more expensive, as it gets harder to mine new bitcoins. That difficulty creates the false impression that today’s value is a bargain compared to what it will be in the future. Bitcoins are the ultimate Ponzi scheme…”
“It just doesn’t make sense. This thing is not regulated, it’s not under control, it’s not under the supervision” of any central bank, Alwaleed said in an interview on CNBC’s “Squawk Box.” “I just don’t believe in this bitcoin thing. I think it’s just going to implode one day. I think this is Enron in the making,” Alwaleed said.
Jeffrey Smith : “The conclusion is that the incentive to buy BitCoin or any other virtual cryptocurrency is the speculation that someone else will pay more real world currency (real purchasing power) at some time in the future. That is the essence of the Greater Fool Theory.”
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Panos Mourdoukoutas : “…That’s bad news for Bitcoin investors, as central banks and banks can find ways to taper the demand for Bitcoin, taming any further price gains and occasionally crushing it, as the Chinese government did recently…. A larger supply of cryptocurrencies could eventually crush Bitcoin prices for good, the way a larger supply of different varieties of tulips crushed tulip prices back in the 17th century….”
“Ben Bernanke pense que le BItcoin va échouer (mais il apprécie la technologie blockchain)” – Fortune | 5 640,15 $
“Bitcoin is an attempt to replace fiat currency and evade regulation and government intervention. I don’t think that’s going to be a success,” …“Eventually governments will take any action they need to prevent [that].”
“Robert Shiller, un prix Nobel d’économie, affirme que le Bitcoin est juste une mode” – CNBC | 5640,15 $
Robert Schiller : “Bitcoin is a fad, just like bimetallism before it, according to one Nobel Prize-winning economist. The observation came from American economist Robert Shiller, who compared the cryptocurrency to the bimetallism fad of the late 19th century when both gold and silver were accepted as legal tender.”
Peter Schiff : “I believe it’s not going to succeed in delivering the monetary utility that people [expect],” Schiff said. “I do not think it’s going to be the money of the future. I think it’s the bubble of the present.” “I think a lot of people unfortunately, have attributed properties to Bitcoin and other cryptocurrencies that do not exist,” he said. “I think that people who are rightfully skeptical of the dollar, the euro, the yen are taking refuge in bitcoin or other cryptocurrencies and they’ve jumped from the frying pan into the fire.”
“Jamie Dimon affirme que si vous êtes suffisamment ‘stupide’ pour acheter des Bitcoins, vous en paierez un jour le prix” – CNBC | 5 128,05 $
“I could care less about bitcoin…. I don’t personally understand the value of something that has no actual value. You all can do whatever you want and I don’t care….. If you’re stupid enough to buy it, you’ll pay the price for it one day. I’ve also told people that it can trade at $100,000 before it trades to zero. The only value of bitcoin is what the other guy’ll pay for it. Who cares about bitcoin? The world economy’s so big, JPMorgan alone, $6 trillion, we move all this money, and bitcoin in total, all these currencies, $50 billion dollars, maybe a billion dollars trades a day. The other thing I’ve always [said]about bitcoin, governments — and this is not a technological statement — governments are going to crush it one day.”
Kenneth Rogoff : “My best guess is that in the long run, the technology will thrive, but that the price of bitcoin will collapse….it is folly to think that bitcoin will ever be allowed to supplant central-bank-issued money.”
“La SEC américaine commence à ‘épurer’ les crypto-monnaies en s’en prenant à Bittrex” – Stock Emperor | 4 417,98 $
Maciej Włodarczak : “If SEC will follow this path and starts targeting other US exchanges, it means a unrecoverable crash for Bitcoin and Ethereum. As Twitter user StartaleTV noted – “all alt are up in the air now”. I would say more: it’s possible end of Bitcoin and other main cryptos like Ethereum. SEC isn’t working too fast – but if it starts regulations on wide scale, it will effectively kill Bitcoin fad.”
“La fabuleuse envolée du Bitcoin… se terminera par des pleurs” – South China Morning Post | 4,035,36 $
Richard Harris : “It is a feature of all bubbles driven by the herd to find that many wise, high profile and analytical financial observers are their most ardent supporters. The rest of the crowd are blinded by greed or gripped by the fear of missing out. So it is with bitcoin. ….The fatal aspect lacking from cryptocurrencies is the backing of a central bank, which has all of the economic, military and intellectual resources of a nation to support it. … Cryptocurrencies are going up because they are going up; they are the Kardashians of the financial world; famous for being famous. But fame does not last forever, nor do market manias. Then the very same very wise, high profile and analytical financial observers will then try to convince us that they were the first to warn us!”
“Pour le ‘Loup de Wall Street’ Jordan Belfort, le Bitcoin constitue une fraude” – The Street | 3 922,21 $
Jordan Belfort : “‘The Wolf of Wall Street’ Jordan Belfort thinks bitcoin is a fraud,….He expects a central bank to introduce a cryptocurrency of its own ‘and that’s what will take hold.'”
Bitcoin has absolutely no value now, and it’s going to cost people a lot of money. Okay, it’s gone from 4,700 to 3,500 in a week, and it’s going to go from 3,500 to zero. Now, it might go from 3,500 to 10,000 first, but it’s going to end up being zero. Bitcoin is a pseudocurrency. It’s no more suitable as money than salt or big round rocks.
“Tenez-vous éloignés du Bitcoin, il s’agit d’une “bulle absolue” d’après John Hathaway” – Kitco.com | 3 967,09 $
John Hathaway : “A notable asset manager who focuses primarily on gold had a harsh word for the cryptocurrency market craze this week: ‘garbage.’ He also took aim at the argument that gold markets are seeing less attention from investors because of cryptocurrencies, declaring the idea ‘baloney.'”
Le Bitcoin est une bulle.
“La flambée du cours du bitcoin nous montre la vérité : il va probablement dégringoler à zéro” – Wall Street Journal | 3 569,56 $
James Mackintosh : “Behind every bubble is a good idea bursting to get out, and bitcoin kind of looks like a good idea, at least if you squint a bit. A digital currency without borders that governments can’t control and that allows secret online transactions? I’m in. Bitcoin itself? Not so much. So is a single bitcoin worth $500,000, $5,000, $500 or $0? I’m inclined to say $0, especially if bitcoin’s value depends on it being adopted as a global digital currency to replace dollars. There is no chance whatsoever that bitcoin can displace the dollar, for the simple reason that it is badly designed. Bitcoin can handle a pathetically small number of transactions, and uses an inordinate amount of electricity to do so, making it entirely unsuitable to replace ordinary money.”
“John McAfee vient de révéler accidentellement pourquoi le Bitcoin est une totale escroquerie” – Natural News | 3 650,83 $
Mike Adams : “The bottom line? Bitcoin is headed for failure… Will that totalitarian regime allow all their central banks and government currencies to be made obsolete by a libertarian cryptocurrency they don’t completely control? Of course not. And anyone who believes Bitcoin will overthrow the globalist money / debt cartels is naive and stupid. Trust me when I say a bunch of geeks aren’t going to overthrow centuries of globalist money domination that now rules our corrupt world.”
“L’un des meilleurs analystes de JPMorgan compare le Bitcoin à un ‘schéma pyramidal’” – CNBC | 3 606,08 $
Marko Kolanovic : “JPMorgan’s top quant strategist backed his boss this week in bashing bitcoin, warning that the cryptocurrency is likely a “pyramid scheme.”… “It’s not worth it to look at bitcoin two months, two weeks ahead,” Lee argued, saying he still believes each bitcoin will be worth $25,000 in five years.”
Ron insana : “Computer, biotech, internet shares and real estate, and all crashed when excessive optimism far outweighed the more rational expectations normally associated with prudent investing. So too will be the case with bitcoin. As yet, bitcoin also fails as a currency in several ways. Bitcoin is in a bubble, make no mistake. The episode, for some, will end badly while others reap the rewards of getting in on the action early and, more importantly, getting out before the bust.”
“Jamie Dimon, le PDG de JPMorgan, déclare que le Bitcoin constitue une “fraude” qui finira par exploser” – CNBC | 4 367,12 $
JPMorgan Chase CEO Jamie Dimon took a shot at bitcoin, saying the cryptocurrency “is a fraud….It’s just not a real thing, eventually it will be closed,” Dimon said …“It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed,” Dimon said at a banking industry conference organized by Barclays. “Currencies have legal support. It will blow up…
Paul Donovan : “This is true for all cryptocurrencies, he argued, because of one very important fact: they are not, and will never be actual currencies. The blockchain is essentially an efficient transmission mechanism,” he said. “UBS and other banks, even some central banks, have adopted blockchain technology that speeds up transactions between the major banks of the world. But you need to separate the underlying technology, which is rather dull, from bitcoin itself, which might be exciting, but it’s not an actual currency.”
Panos Mourdoukoutas “Bitcoin’s buzz is gone, for now. It was crushed by the heavy-handed intervention of the Chinese government, which is cooling off investor enthusiasm for the digital currency…. shutting off ICOs and cryptocurrency exchanges altogether, as China is doing, goes beyond traditional regulation. It questions the very legitimacy of Bitcoin, and its prospects for gaining broad acceptance as medium of exchange, an asset, and a means of different payments. To become money, that is, like national currencies.”
“Le Bitcoin, l’Ether et les autres crypto-monnaies pourraient être en train d’assister au début de la fin – MarketWatch | 4 669,66 $
Brett Arends : “The sudden Chinese crackdown on the virtual coin fundraising of bitcoin and other cryptocurrencies that caused the plunge is either the end of the beginning for the crypto-party — or, more likely, the beginning of the end…. It makes no serious sense. In other words, cryptocurrencies lack precisely the supposed unlimited upside that speculators dream about. The only way we are ever looking at so-called “blue sky” valuations is if the governments of the world all lose their collective minds… And as for those cryptocurrency fans and their libertarian fantasies: If you think bitcoin or Ether or whatever is somehow beyond government control because it is so decentralized across so many different computers, think again. Governments may not be able to shut down all the servers, but they don’t have to. They can in theory ban people and companies under their jurisdiction from buying, selling, trading, or holding these things. Governments can make your cryptocurrencies unconvertible into anything useful… Crypto-mania may continue for now. Traders will be watching the charts to see how the trends develop. But the long-term investment story looks like another matter. The risks are rising.”
“Le prix du Bitcoin a atteint les 5 000 $ la semaine dernière. Cela reste un investissement stupide.”
Michael Hiltzik : “So here’s my short answer. No, I don’t feel silly, but vindicated. If the recent run-up in bitcoin price proves anything, it’s that the virtual currency is still a dumb investment.”
David Merkel :”I’ve written about Bitcoin before. It has three main weaknesses: No intrinsic value — can’t be used of themselves to produce something else. Cannot be used to settle all debts, public and private Less secure than insured bank deposits…. I commented in my Bitcoin article that it was like Penny Stocks, and that’s even more true with all of the promoters touting their own little cryptocurrencies. The promoters get the benefit, and those who speculate early in the boom, and the losers are those fools who get there late…. Ultimately, most of the cryptocurrencies will go out at zero. Don’t say I didn’t warn you.”
John Lohr : “So far, other than isolated situations, cryptocurrencies have not been used to facilitate commerce in the Mom and Pop World. They have been speculation vehicles that have drawn in people hypnotized by the out of this world run up in prices: $270 to $4700 in 8 months. Too good to be true. Sheep lured by the “Don’t miss out on this” psychology have bought, and bought and bought…. While we wait for Big Financial to take over this movement, if you own some Bitcoins, sell them now, please. Who cares if you miss some of the run up until it crashes?”
Nico Metten : “I however, remain unconvinced. The blockchain certainly will change the world, but cryptocurrencies not so much. Nothing has changed, bitcoin is still a speculative bubble. The price, in my view, will eventually go to zero. But of course, on its way there, it might first go to more ridiculous highs. A higher price does not mean that it is not a bubble. It just means that the bubble is getting bigger. So, for what it is worth, be warned. If you have investments in crypto currencies, you are invested in a Ponzi scheme. At the end of this, for every winner, there will have to be the same amount of losers. The only way to not end up on the loosing side is, to sell before everyone else does.”
Peter Schiff : “Bitcoin is a gigantic bubble ready to explode, according to Euro Pacific Capital CEO Peter Schiff. While Schiff explained to TheStreet how Bitcoin will be toppled, he also unveiled one key risk to the stock market.”