Top Bottom
Dan.com

information Why bitcoin may become virtually worthless: Finance professor

Dynadot
Impact
8,064
[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:

kite26

Fearless Bird
Impact
6,046
[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.

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?
Is Crypto Domains still worth it?
0121-bubble_full_600.jpg
 

Internet.Domains

Account Closed (Requested)
Impact
6,689
[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?
Is Crypto Domains still worth it?
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.....
 

alcy

Top Contributor
Impact
34,181
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.
 
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. :)


Something crypto may be in the future.
But will bitcoin be around in the future?

Several established altcoins offer transaction fees below one penny. That alone has real value.
 
Last edited:
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.

The USD is a made up currency; Understand that and then we can possibly talk, maybe. :)
 
Last edited:
Impact
11,677
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....
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!
 
Impact
11,677
Okay, take your bitcoin (oh wait, you can't) to your local store and try to buy a pack of gum.
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.
 

alcy

Top Contributor
Impact
34,181
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.
 
Impact
11,677
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.
This is like comparing a dollar to a share of stock. It’s apples and oranges.
 

TestCase

Note: Doesn't play well with others.
Impact
2,372
Our currency has value because you are told -- as well as a sufficient number of other people -- BELIEVE it does. In reality, it’s valueless if you can just print new paper whenever deemed necessary...
FIFY
 
Last edited:
Impact
5,590
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
 
biix