Once again another hater who doesn't understand cryptocurrency telling us why it will fail.
Follow link to read my reply and follow article here https://cryptodaily.co.uk/2018/07/bitcoin-is-a-ponzi-scheme-and-may-be-worth-nothing-soon-according-to-the-new-york-post/
Excerpt from article:
I use the term ‘worth’ cautiously because bitcoin is really worth nothing since it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something. Got it! Ponzi scheme. Confidence game. Fraud. Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when"
My reply
Sounds like the same criteria for the US dollar. No backing and built on a confidence game. I think the world still doesn't understand crypto currency. In a but shell monetized information or better word data capitalization at its finest. This fact alone will keep it around absent the price. Even if Bitcoin drop to 3k it would still trade. What's being missed is that due to high transaction fee the community is seeking out alt coins for better profit when calculating the cost to move.