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Bitcoin has failed. It doesn't scale as a currency and its not a store of value. The cost of mining is simply too expensive and as an ecosystem its hemorrhagi
by pirate787 4y ago
Bitcoin has failed. It doesn't scale as a currency and its not a store of value. The cost of mining is simply too expensive and as an ecosystem its hemorrhaging a billion dollars a month. What's the net present value of an asset that loses a billion dollars a month, forever?
- logicalmonster 4y agoShort it and gain free money if you’re that confident.
- ceejayoz 4y agoShorting a manipulated market is a fool's game. Example: https://www.theblock.co/post/156031/uprise-lost-99-of-client-funds-while-shorting-luna-during-its-price-crash https://www.theblock.co/post/156031/uprise-lost-99-of-client... > However, the system could not prevent the firm from being liquidated out of its LUNA futures trading position and losing 26.7 billion won ($20 million) in the process. This happened during Luna's price crash. It was reportedly shorting Luna — while its price plummeted — but got caught out during sudden price pumps along the way. > The lost funds represent about 99% of the funds that Uprise was managing on behalf of its customers. These clients are high-net-worth individuals and corporate entities, according to the report. Uprise also reportedly lost $3 million of its own funds short trading LUNA. They were absolutely correct about LUNA, and still got wrecked. Bart (https://www.newsbtc.com/news/bitcoin-price-bart-simpson-chart-pattern/ https://www.newsbtc.com/news/bitcoin-price-bart-simpson-char...) will murder you.
- andirk 4y agoIf "head and shoulders" wasnt enough, now theres a name for an asset that fluctuates in a stable horizontal pattern?