Bitcoin drops and out of the woodwork come the doomsday predictions and naysayers of crypto. One such article I have just been reading is in the Financial Review: https://www.afr.com/technology/this-is-the-final-nail-in-the-bitcoin-coffin-20180622-h11ps4
According to this worthwhile research!!!!
Cryptocurrencies have no intrinsic worth and are useless as a form of exchange. They entail exorbitant transaction costs. They are very slow. Together they have turned into an ecological fiasco.
They are not backed by the assets and revenue streams of an established state. Most can be rendered worthless by fraud or digital manipulation.
They are essentially Ponzi schemes that masquerade as citizen currencies beyond government control.
How often have you heard these same sentiments in a bear market? It really does seem that some people have nothing better to do than to try and negate the gains of other. Unfortunately that is just human nature though isn't it. As soon as someone gets a little leg up or another technology comes about that may just be better than the status quo, then someone comes out of the woodwork to try and shoot it down in flames.
I don' think I'll ever see a world in my lifetime where people can get along and try and work together for the good of the human race.
Thanks for reading!
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