17 Ιανουαρίου 2021

Breaking News

Bitcoin: Think about it, before it is too late…

Bitcoin: Think about it, before it is too late…

Not all bubbles have the same characteristics!

Bubble is anything that inflates exponentially short-term and diverges a lot with its real / fair value, even if we add in this, the realistic future expectations. Bitcoin fits in the above explanation of bubbles, that’s why it is a bubble.
But Bitcoin also is the King of bubbles, the greater of all bubbles of the past, that’s why is “die hard” / repeated.

Why Bitcoin is a repeated super bubble / King of Bubbles?

Because in short, is a mix of:
A cult: people who are against the system, with ideological strong base, people who think that bitcoin will beat the system (of course is not gonna happen, as it has not happened in its 11 years life)
+
Speculation (wolrdwide): here are the “professionals” who discover BTC at its peak, and short-term traders, who are placed as long as they see a strong trend, mainly short term, and thus, contribute to the existence of a constant periodic demand, which inflates it.
… a constant periodic demand, which inflates it, which contradicts the functionality and usability of bitcoin, which in no case, can support its rise.

Bitcoin is the “die hard” King of Bubbles, but eventually will die (till 2030) because the world will abandon the obsolete and dysfunctional BTC and will embrace other, more friendly in every way, digital forms of money.

• Think about it… bitcoin’s (repeated) rise / bubble, is based on the ideological cult that has grow around it. Speculation comes to boost the pump but speculators and traders, are not believers; they are on bitcoin for the profit. When the conditions will be appropriate and interest has reduced a lot on it, they will abandon it ASAP.

• Think about it… if bitcoin was such a threat for the status quo, then who and how, would prevent the States and central banks, to “print” tones of money and buy / sweep all bitcoins from the market? … and thus, to take over / obtain this “super-weapon” that can destroy the System? (and then, eliminate it).

• But reality shows the truth for those who want to see it: No States’ institutions, buy the bitcoins, because is not a threat for the System. Even when by chance, States and Authorities find bitcoins, like when they seize some cryptos when Authorities arrest criminals / scams etc, the Authorities do not keep those cryptos, but sell them and distribute them again in the market through auctions.

• Think about it… If someone had a weapon and intention to kill you, wouldn’t be on your own interest, to grab the weapon from him?

… so don’t believe all these crypto-new-evangelists … don’t be based in blind faith … instead think, put reason and logic in front … analyze!

Panayotis Sofianopoulos
Author of :

Bitcoinvest or Not? Answers to Crucial Questions.

…for those, considering investing in bitcoin and other cryptos too.

Bilingual book  (English and Greek)

Για αυτούς που σκέφτονται να επενδύσουν στο BTC ή και σε άλλα cryptos.

Επίσης, για όσους ενδιαφέρονται, μπορούν να αναζητήσουν το webinar, με τίτλο

Bitcoin: Να ΕΠΕΝΔΥΣΩ ή Όχι;

Read also:
An answer to Michael Sonnenshein, about bitcoin

 

Related posts