Bitcoin.com founder sells all his Bitcoins -"Extremely high risk"

[littleroundman]

WA Today.com.au (http://www.watoday.com.au/business/markets/bitcoin-as-good-as-useless-says-bitcoin-com-co-founder-20171218-p4yxty.html?promote_channel=edmail&mbnr=NTY2MzM5OA&eid=email:nnn-13omn652-ret_newsl-membereng:nnn-04%2F11%2F2013-news_am-dom-news-nnn-watoday-u&campaign_code=13INO006&et_bid=29109298&list_name=2142_wa_today_news_update&instance=2017-12-19--03-47--UTC) is reporting:

http://imageshack.com/a/img924/9545/k5jIkU.png

[nuk_1]

Wow, finally a mainstream article on Bitcoin with someone who knows and states a lot more meaningful analysis than the "it's a bubble, it's going to burst!"(no kidding, but when?) or the other side of "it's going up to keep skyrocketing and change the world!" Oldensburg is totally right about the longer transaction times and block sizes really hindering more widespread acceptance of Bitcoin as a meaningful currency. BitcoinCash was created out of this increasing problem(and also a way to make some instant cash) and others like LiteCoin and Ether both can handle the situation described by Oldenburg much more efficiently. He's especially accurate about how entrenched old-school miners have way too much control over Bitcoin's future.

Kind of guessing it was recently as of last week when Oldenburg dropped a lot of Bitcoin because you could see a surge in Bitcoin sell volume followed by a big upswing in buying BitcoinCash, propelling it higher.

Bitcoin is just an investment game. Some of its underpinnings like blockchain could be adopted mainstream, though it can already be done better by other crypto. A viable alternative to current good old fiat? Nope.

NUK

[ribshaw]

Bitcoin is just an investment game.


Unlike regulated markets I'd wager there are a lot of people levered up on credit cards and title loans in their quest for crypto riches. I've said this before, and way too early apparently but I hope people have a good sell strategy in place. Much like today's stock market there are people invested that have never experienced a bear market. Every dip in price has been an excellent buying opportunity and will remain so until it doesn't.




Some of its underpinnings like blockchain could be adopted mainstream, though it can already be done better by other crypto.

People always chase performance and a story, don't sully their minds with facts.



A viable alternative to current good old fiat? Nope.


Beanie Babies had limited supply too.


https://www.youtube.com/watch?v=PgDsyj5eLmo

The hucksters like to toss around the notion of converting fiat into crypto, without I think understanding that crypto is fiat sans the government. Backed by nothing more than someone's willingness to trade a string of numbers for goods and services.