He does make a good point - speculative investors are not good for crypto.
Bitcoin, not having an intrinsic value, is going to be largely a speculative currency moving forward.
Once other cryptos like ETH and IOTA become used more widely and embedded in commerce and platforms then there will be some safety in investing, but at the moment it's all up in the air.
So we can't say he is right that it will all go to zero, but we can't say he's wrong. At this point we're all speculators.
The only reasonable thing he says is that banks are dishonest, predicting what will happen with Bitcoin is like a snake oil salesman I don't believe anyone knows what will happen, except if it is being manipulated by powerful people and somehow leaks have made this known to certain people. Bottom line I don't believe anything these experts are saying, not that I don't believe in experts, but how can there be experts in something as new as cryptocurrency, what we have are people speculating on what will happen. If the financial system collapses nothing is going to have any value, except food, medicines and things that let you keep on living but bitcoin, gold or silver can't be eaten, I think nobody is facing this fact.
That's where the problem lies, why would I sell you food for something that would be essentially worthless, what can you do with gold or silver, in a time when the one thing you need is food?
What do you base this theory on? people keep throwing out this line "you can't eat it". Name 1 time in 5000 years of history when gold has ever been "worthless". "This time is different", it's like we've never had turmoil in the world before!!! Some of us people are just not that concerned about "food" I can grow or hunt or fish or collect my food like every other a species does on this planet. Cheers
Well it was worthless to the native americans, good for making pretty things but you couldn't trade anything with it, in fact only the highest orders had access to it, and I'm talking about the highly civilized people, Aztecs Mayas and Incas, you could buy nothing with gold, you could buy with cacao beans though.
Food is the basis of life, without it you starve, cheers.
So your whole opinion is that our civilization as we know it will end, and the people that manage to survive, will go back to sitting in teepee's bartering food scraps. Sound like fun to me!!
No, I think that's the opinion of most of the people who post here, I don't have an inkling as to what is going to happen, but if the dollar fails completely we are going to be in a very tough situation, by the way I live in Honduras, and we would be really screwed if this happened.
I think ..... the fall of bitcoin is natural to leave the way wide open for the upcoming cryptocurrency (that has a very good innate strength & usability) bcuz bitcoin was v v speculative & had it's limits & only served as a back bone between other cryptocurrencies & the dollar.
Bitcoin has already started a major downward trend in relation to August 1 deadline event?? Most people have been predicting a fairly major pullback in the lead up to the soft / hard fork outcome so this is no surprise! Probably just best to store Bitcoin offline for a while until it all sorts itself out and starts heading north again. Time will tell. A buying opportunity??
Bitcoin as well as litecoin have strong possibilities. And if anyone could predict the future we would rich😄
Your right, it's always easy in hindsight my friend. Cheers
He does make a good point - speculative investors are not good for crypto.
Bitcoin, not having an intrinsic value, is going to be largely a speculative currency moving forward.
Once other cryptos like ETH and IOTA become used more widely and embedded in commerce and platforms then there will be some safety in investing, but at the moment it's all up in the air.
So we can't say he is right that it will all go to zero, but we can't say he's wrong. At this point we're all speculators.
Especially with the hard fork coming soon. Cheers
The only reasonable thing he says is that banks are dishonest, predicting what will happen with Bitcoin is like a snake oil salesman I don't believe anyone knows what will happen, except if it is being manipulated by powerful people and somehow leaks have made this known to certain people. Bottom line I don't believe anything these experts are saying, not that I don't believe in experts, but how can there be experts in something as new as cryptocurrency, what we have are people speculating on what will happen. If the financial system collapses nothing is going to have any value, except food, medicines and things that let you keep on living but bitcoin, gold or silver can't be eaten, I think nobody is facing this fact.
Why would you eat your gold and silver!! wouldn't it make more sense to buy your food with it?
That's where the problem lies, why would I sell you food for something that would be essentially worthless, what can you do with gold or silver, in a time when the one thing you need is food?
What do you base this theory on? people keep throwing out this line "you can't eat it". Name 1 time in 5000 years of history when gold has ever been "worthless". "This time is different", it's like we've never had turmoil in the world before!!! Some of us people are just not that concerned about "food" I can grow or hunt or fish or collect my food like every other a species does on this planet. Cheers
Well it was worthless to the native americans, good for making pretty things but you couldn't trade anything with it, in fact only the highest orders had access to it, and I'm talking about the highly civilized people, Aztecs Mayas and Incas, you could buy nothing with gold, you could buy with cacao beans though.
Food is the basis of life, without it you starve, cheers.
So your whole opinion is that our civilization as we know it will end, and the people that manage to survive, will go back to sitting in teepee's bartering food scraps. Sound like fun to me!!
No, I think that's the opinion of most of the people who post here, I don't have an inkling as to what is going to happen, but if the dollar fails completely we are going to be in a very tough situation, by the way I live in Honduras, and we would be really screwed if this happened.
I think ..... the fall of bitcoin is natural to leave the way wide open for the upcoming cryptocurrency (that has a very good innate strength & usability) bcuz bitcoin was v v speculative & had it's limits & only served as a back bone between other cryptocurrencies & the dollar.
I guess time will tell my friend.
Mike Adams is a Fudpacker!
Bitcoin has already started a major downward trend in relation to August 1 deadline event?? Most people have been predicting a fairly major pullback in the lead up to the soft / hard fork outcome so this is no surprise! Probably just best to store Bitcoin offline for a while until it all sorts itself out and starts heading north again. Time will tell. A buying opportunity??
Certainly will be a good chance to buy some bitcoin if you think everything will be ok. Cheers
Nice Info. Thanks for sharing
Your welcome I'm glad you liked it. Cheers