NameSilo

Why bitcoin may become virtually worthless: Finance professor

Labeled as information in Niche Domain Discussion started by lennco, Dec 7, 2018.

Replies:
159
Views:
7,277

  1. lennco

    lennco Top Member VIP ★★★★★★★★★★

    Posts:
    4,051
    Likes Received:
    5,588
    [Fox Business] Julia Limitone Fox BusinessDecember 6, 2018

    The world’s largest cryptocurrency is beginning to wind down and is close to becoming worthless, according to a Santa Clara University finance professor.

    Bitcoin soared above $19,000 at its peak a year ago, only to fall sharply. It’s currently hovering around $3,600 level, according to Coindesk.

    “Fundamentally bitcoin has not lived up to its hype,” Atulya Sarin said to FOX Business’ Stuart Varney on Thursday. “Primarily if you look up all the activity around bitcoin it’s mostly around creating. It doesn’t seem to have too many use cases.”

    Unlike paper money, which is backed by a central bank which decides when to print and distribute money, bitcoin is issued through mining which uses computational power to maintain a record of who owns the cryptocurrency. Without it, no transactions would be possible.

    Sarin said right now the problem is that it costs more to mine bitcoin than to actually own it -- and “that’s not sustainable.”

    “If there is no transaction happening and there’s no record of who owns what then all you have is a set of numbers and all those numbers are worthless,” he said.
    https://finance.yahoo.com/news/why-bitcoin-virtually-worthless-finance-165126365.html

    What do you guys think?
    Are Crypto Domains still worth it?
     
    Last edited: Dec 7, 2018
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. kite26

    kite26 Tentacle.io VIP

    Posts:
    4,485
    Likes Received:
    3,260
    [​IMG]
     
  3. Internet.Domains

    Internet.Domains Top Member VIP

    Posts:
    1,687
    Likes Received:
    3,998
    Crypto is moving from Utilities to Securities. Just as the early internet has changed, so will crypto. Will crypto look different in future? Yes.....Will crypto be gone in future? ABSOLUTELY NOT.....
     
  4. iowadawg

    iowadawg WHO CARES? VIP ★★★★★★★★★★

    Posts:
    31,322
    Likes Received:
    85,927
    Something crypto may be in the future.
    But will bitcoin be around in the future?
     
  5. topdom

    topdom Established Member

    Posts:
    425
    Likes Received:
    261
    Without advertising bitcoin would be nothing. Now there is negative advertising. Maybe bitcoin needs to be printed on paper to survive.
     
  6. alcy

    alcy Top Member VIP

    Posts:
    16,183
    Likes Received:
    25,161
    well all money is basically illusion.. btu at least the dollars in your bank account won't go to zero or down by 50% any time soon.

    same way as TVs evolved.. internet evolved.. phones evolved.. and everything else in life evolves.. crypto will evolve too... how no one knows.. but its silly to think the first product of some new concept or idea will eventually end up anywhere other than a museum or antique store.
     
  7. ~ The 34 Year Buzz!!

    ~ The 34 Year Buzz!! Top Member VIP ★★★★★★★★★★

    Posts:
    1,364
    Likes Received:
    413
    People who want to learn and be accurate will eventually be able to give quality information about Bitcoins. Others completely uneducated opinions are (perhaps) worth a laugh once in a while.

    FYI: The "Santa Clara University finance professor" provides a great reason to avoid attending Santa Clara University. :)


    Several established altcoins offer transaction fees below one penny. That alone has real value.
     
    Last edited: Dec 7, 2018
  8. urlurl

    urlurl Top Member VIP

    Posts:
    2,950
    Likes Received:
    5,677
    i can see crypto coins like tether (but not tether as its a near scam) being backed by a countries currency. that way the price stays stable as it would with any currency.

    bit coin and all these other made up currencies will then have no value.
     
    Last edited: Dec 7, 2018
  9. ~ The 34 Year Buzz!!

    ~ The 34 Year Buzz!! Top Member VIP ★★★★★★★★★★

    Posts:
    1,364
    Likes Received:
    413
    Why?

    made up currencies?
    What?
    The national debt and the federal deficit are skyrocketing. ... WASHINGTON – The national debt is $21 trillion and counting. The federal deficit soared last year to $779 billion and is projected to approach $1 trillion in 2019.
    https://www.google.com/search?q=us+federal+debt?&ie=utf-8&oe=utf-8&client=firefox-b-1
     
  10. iowadawg

    iowadawg WHO CARES? VIP ★★★★★★★★★★

    Posts:
    31,322
    Likes Received:
    85,927
    Debt of USA or any other country has not a damn thing to do with some made up internet currency.
    Understand that and then we can talk.
     
  11. ~ The 34 Year Buzz!!

    ~ The 34 Year Buzz!! Top Member VIP ★★★★★★★★★★

    Posts:
    1,364
    Likes Received:
    413
    The USD is a made up currency; Understand that and then we can possibly talk, maybe. :)
     
    Last edited: Dec 7, 2018
  12. iowadawg

    iowadawg WHO CARES? VIP ★★★★★★★★★★

    Posts:
    31,322
    Likes Received:
    85,927
    Son, all currency is made up.
    But beats the hell out of having to store bushels of wheat and corn to trade for domains....

    But our currency has value, bitcoin and the rest do not.
    In fact, how is the value of all those digital coins valuated?
    Oh, CURRENCY!!! Our dollars....
     
  13. 55Domains

    55Domains Upgraded Member Gold Account VIP

    Posts:
    789
    Likes Received:
    445
    You are in for a surprise soon-ish :)
     
  14. Keith

    Keith Top Member VIP ★★★★★★★★★★

    Posts:
    8,472
    Likes Received:
    8,729
    Our currency has value because you are told it does. In reality, it’s valueless if you can just print new paper whenever deemed necessary.

    As to the value of crypto, it’s valuated on how it acts. Most of these tokens aren’t currencies at all. They are real companies which use tokens in place of shares of stock to publicly operate. Once you can grasp how and why companies use crypto, it all makes perfect sense!
     
  15. iowadawg

    iowadawg WHO CARES? VIP ★★★★★★★★★★

    Posts:
    31,322
    Likes Received:
    85,927
    Okay, take your bitcoin (oh wait, you can't) to your local store and try to buy a pack of gum.

    Again, the cryptos are valued in freaking dollars, which you say are valueless...
    Which makes the cryptos what?
    VALUELESS!!!
     
  16. Keith

    Keith Top Member VIP ★★★★★★★★★★

    Posts:
    8,472
    Likes Received:
    8,729
    Absolutely false. You can load Visa cards with crypto right now and buy gum, gas, or whatever you want. Monero is the creator and the buyers of crypto.com, now there new name.
     
  17. alcy

    alcy Top Member VIP

    Posts:
    16,183
    Likes Received:
    25,161
    at this point its probably not even about what has value or doesn't... cause that can be debated forever and everyone can be wrong and right at same time... so its more about what has the more potential or most likelihood to go to zero or lose half its value when you wake up tomorrow.... cryptos or USD... I think we all know the answer to that.
     
  18. Keith

    Keith Top Member VIP ★★★★★★★★★★

    Posts:
    8,472
    Likes Received:
    8,729
    This is like comparing a dollar to a share of stock. It’s apples and oranges.
     
  19. TestCase

    TestCase Note: Doesn't play well with others. VIP ★★★★★★★★★★

    Posts:
    2,019
    Likes Received:
    1,387
    FIFY
     
    Last edited: Dec 8, 2018
  20. Keith

    Keith Top Member VIP ★★★★★★★★★★

    Posts:
    8,472
    Likes Received:
    8,729
    No clue what you’re attempting to say.
     
  21. TERADOMAIN

    TERADOMAIN Top Member VIP

    Posts:
    4,212
    Likes Received:
    7,213
    Minor correction.

    Crypto.com own by Monaco
     
  22. Keith

    Keith Top Member VIP ★★★★★★★★★★

    Posts:
    8,472
    Likes Received:
    8,729
    Correct, thanks!

    Tokencard also offers the same service.
     
  23. urlurl

    urlurl Top Member VIP

    Posts:
    2,950
    Likes Received:
    5,677
    why would i put crypto on a credit card or bank account to just buy something. that will incur a spread when i convert and the fee's per transaction of bitcoin are no longer cheap.

    my debit and credit card are just fine with real money.

    the world worked fine before and will work fine after crap coins are gone...

    just a big pump and dump scheme
     
  24. alcy

    alcy Top Member VIP

    Posts:
    16,183
    Likes Received:
    25,161
    yeah i know all those btc fans got it all wrong
     
  25. urlurl

    urlurl Top Member VIP

    Posts:
    2,950
    Likes Received:
    5,677
    Those hold crypto coins, are pumping it

    Those who wish they had bought when they were pennies and have nothing now, want it to crash

    and 99.9% of the world can care less about any of it.
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
Topics / Tags:

Share This Page

NameWorth
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...