Why Bitcoin Is Money and Will Not Fail - Mine Digital

11-20 01:22 - '100 reasons why bitcoin will fail, and you will lose everything. A case Study by Jeffrey Knopfel' (sell-bitcoin.net) by /u/mra707 removed from /r/Bitcoin within 7-17min

100 reasons why bitcoin will fail, and you will lose everything. A case Study by Jeffrey Knopfel
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Author: mra707
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11-20 00:33 - '100 reasons why bitcoin will fail, and you will lose everything. A case Study by Jeffrey Knopfel' (sell-bitcoin.net) by /u/mra707 removed from /r/Bitcoin within 0-7min

100 reasons why bitcoin will fail, and you will lose everything. A case Study by Jeffrey Knopfel
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Author: mra707
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Why Bitcoin will not fail and should be considered as a means of payment for gigs abroad

Why Bitcoin will not fail and should be considered as a means of payment for gigs abroad submitted by ludovicoworker to Bitcoin [link] [comments]

Why will bitcoin succeed or fail as a currency?

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07-11 19:53 - 'Why bitcoin will fail. Why bitcoin will succeed.' (self.Bitcoin) by /u/kwanijml removed from /r/Bitcoin within 690-700min

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So we've all been blasted incessantly with the now age-old tirade (and variants) about how "bitcoin is pure speculation", "will be curbed or shutdown by government as soon as they feel so inclined", and my favorite; "anyone can create a new cryptocurrency, so that means they won't be worth anything".
I was recently responding to one such bad argument in /economics and thought I'd just post it here as well, to maybe help a few people better understand the macro forces at play, and maybe pair these ideas with hardespecific evidence as it pertains in your future discussions with skeptics and detractors:
Money (or a proto-money like bitcoin) is a network good: i.e. its value, in aggregate and each share of a homogeneous unit, is derived from positive network externalities. Not some utility of the token itself. Or to state it another way: the size of the network of available trading partners with which you can alleviate the inefficiencies of barter and communal credit systems, and thus take maximum advantage of the division of labor.
This idea that speculation for speculation-sake (i.e. a game of musical chairs or last-one-holding-the-bag) is the only or primary factor in play, which causes the trading and use of bitcoin to persist, is simply juvenile and would almost necessarily require that at the very first bust (after the boom) that the coin goes to a price of zero, or at least down to some negligible price which reflects its value in a non-network-good-sense; such as numismatic or curiosity value, or as a smart-contract token for cryptokiddies games or something like that.
And this view simply doesn't hold up to the theoretical scrutiny or empirical reality. Bitcoin has continued to spike and "crash" (almost a half-dozen times now with at least the relative magnitude of the most recent bubble and bust)...and yet so far, consistently finds support after each next crash, higher than the previous all-time high price.
Nobody continually speculates on speculation...there are plenty of "greater fools" each run up, no doubt, but there are also many many of the repeat, usual suspects; continuing to trade and to build the ecosystem. What's going on here is not just speculation on other people speculating...it is entrepreneurial foresight in speculating- speculation on the likelihood of and evidence for the growth in the network effect surrounding the token (i.e. how money-like is bitcoin becoming? How valuable could it be as a full unit-of-account money?).
Because this is a decentralized, bottom-up process, (there is no boss, no owner, no ruler or government; you either trust/accept the rules of the protocol or you don't participate) some market failures or coordination problems stand in the way of this actualization of bitcoin as money coming to fruition smoothly or maybe at all (hence some validation of the "state theory of money" and the usefulness of the tax-demand-sink which fiat currencies enjoy).
But present government policies and the incumbency of the national fiat monies, also present additional challenges, which are likely responsible for keeping bitcoin from gaining as much traction as it otherwise could (tons of persecution of otherwise legitimate crypto-on-ramps under the auspices of AML/KYC laws, the fact that most tax authorities in the developed world treat crypto as a capital good: thus nobody can possibly even legally use a cryptocoin as an every-day spending/earning money, because the tracking and reporting for it are just far too onerous, and many many more direct and indirect ways).
To 1st-world perceptions, its understandable why a lot of people not only feel like they don't get what the utility of bitcoin is now, but also don't see it having a future (thus, pure speculation appears to them to be the obvious driver of the price patterns)...but once you remember and look at how a large percentage of the world does not enjoy stable money, fair or even tolerable governments, ways to escape high inflation and capital controls, accessible banking, and cheap payments (especially for international remittance)...then in comparison, even volatile bitcoin starts to look pretty good. And that fact alone, plus the fact that bitcoin ever even developed an exchange price and continues to exist 10 years later, is pretty freaking amazing...amazing accomplishment for some anonymous crypto-anarchist(s) and an initial cohort of cypherpunks and geeks; almost doesn't make sense...until you understand how ripe the world economy is for a non-state money. For competition. For real accountability (which even democracy often doesn't adequately provide).
Additionally, it doesn't really take too much creativity or foresight, to see and understand that even our "good" governments and their currencies and banking controls, are getting more and more draconian, restrictive, and panopticon-like...so that as bitcoin grows in network effect and liquidity and price stability...it might one day even start to look pretty decent in comparison to the dollar, euro, and yen.
It doesn't take a huge stretch of reason, to understand that a lot of people are a lot more (small 'l') libertarian than skeptics and detractors assume, and desperately care about making institutions as voluntary and competitive as possible; and that this is not something which is or will be achievable through government or political channels; that government accountability must be imposed by de facto competition...even competition in monies; and that, is the point of, and one of the major present and future sources of value of cryptocurrencies like bitcoin.
Anyone can (and always could) create new currencies...this doesn't and never did create inflation or dilute value, or any such nonsense. Because what is not trivial to create is network effect. And network effect (not even taxes or the "full faith and credit" of your country) is what primarily informs price and drives the value and stability of even your national currency. The ability to achieve position as unit-of-account carries massive social and economic inertia with it...and that inertia then even ends up moving politics and forces liberalization.
Yes, because bitcoin is a network good, the U.S. or other governments could crack down on its use (a lot more effectively so than say, narcotics, which are valued and valuable to the user independent of anyone else using or trading with that good) and virtually destroy its present market and market share. But keep some things in mind: 1. To do so, they would have to massively inconvenience or put a dragnet over other, much more widely-used goods (like the internet or parts of it) which would not sit well with the masses, who don't even care about bitcoin. Many/most busines could be tracked and prevented from using crypto via the tax/reporting apparatus...but the informal/cash/black/grey and online economy is already so huge, even just inside the u.s., that if bitcoin were to even become the currency of choice for a large share of just this, it would significantly increase bitcoin's usage from the present, and the price would rise and stability would increase; despite it being kept completely out of the formal economy. 2. The U.S is not the only country on earth! And bitcoin is especially good at silently passing through international boundaries.
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Why bitcoin will fail. Why bitcoin will succeed.
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Author: kwanijml
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Why BitCoin will fail – it has no value – don’t be the last one caught with BitFud in your wallet, sell your bitcoin now and invest in a crypto that has real value.

UPDATE 1 - Bitcoin Deleted this article within 10 minutes of being posted, I though bitcoin stood for fighting against censorship? I guess Bitcoin oligarchs think otherwise.

The single greatest reason why the US fiat Dollar is the greatest currency on the planet, is because it is backed by guns. It is backed by lots of gun. The US Dollar is backed by the strongest military in the world, most effective battle hardened Army, largest most powerful navy that opens the world’s water ways for free trade to benefit all the world, and has the strongest Air Force. Like it or not it’s true. You might think that the computing power of Bitcoin as a support for value but it is not. They are known as miners, miners only maintain bitcoin blockchain and that is it. Once the price of bitcoin falls AGAIN miners will shut down and reallocate their capital towards crypto with real value.

Because bitcoin has no value, it makes Bitcoin’s perceived price based off of speculation. Basically, what the next guy is willing to pay for it. If that next guy doesn’t want to buy because they realize that it has zero value, then the price drops. We all understand that it meets the college text book definitions of money, but like all college freshman who worships Che Guevara and Fidel Castro and the Bolivarian socialist utopia, you soon grow up and realize that it is all Fud. The concept of bitcoin reads well and in a text book and could operate as a functioning currency in a utopian society, but once you begin to understand that the only thing propping up the value is the next fool that is willing to pay for it, then the bottom begins to falls out. People will point to other things like gold and say that it is driven by perceived value. While this is true, however, with gold people can actually hold it in their hands and wear it as jewelry ect... Because bitcoin is only driven by speculation and had no value you better sell bitcoin now, because once intelligent money moves away from bitcoin only fools will be left holding Fud.

Smart money will move towards crypto projects that have real value. For example, Enigma, the value of Enigma is basically the value of information. Like Facebook, Google, and all the other tech companies their business model is based off of having information and selling it. Enigma will be the medium of exchange for information and the network will house and process data. If you are looking to invest in the next project like Google who will revolutionize the world, then invest in Enigma now before the price passes bitcoin.

This post is marked Spoiler because some of y'all will now realize that your Bitcoin is valueless.

*I am not your financial advisor and write this as my personal opinion. In full disclosure I recently bought Enigma because this project is a winner and to show how serious I am about investing in this project I actually barrowed money on a credit card through Binance to purchase Enigma. Some might say I am a degenerate speculating on this project and I will rebuttal with that I have meticulously studied the crypto market and this project far exceeds all others and will change the world in the next couple of years.

At the time of writing this article the price of Enigma is $.43, so If you like this article, feel free to throw some crypto this way, my ERC-20 wallet address is: 0x0b8396CbD9199D47216A703EB861af632fC9ad46
submitted by rho300 to u/rho300 [link] [comments]

03-19 00:03 - 'Why BitCoin will fail – it has no value – don’t be the last one caught with BitFud in your wallet, sell your bitcoin now and invest in a crypto that has real value.' (self.Bitcoin) by /u/rho300 removed from /r/Bitcoin within 12-22min

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The single greatest reason why the US fiat Dollar is the greatest currency on the planet, is because it is backed by guns. It is backed by lots of gun. The US Dollar is backed by the strongest military in the world, most effective battle hardened Army, largest most powerful navy that opens the world’s water ways for free trade to benefit all the world, and has the strongest Air Force. Like it or not it’s true. You might think that the computing power of Bitcoin as a support for value but it is not. They are known as miners, miners only maintain bitcoin blockchain and that is it. Once the price of bitcoin falls AGAIN miners will shut down and reallocate their capital towards crypto with real value.

Because bitcoin has no value, it makes Bitcoin’s perceived price based off of speculation. Basically, what the next guy is willing to pay for it. If that next guy doesn’t want to buy because they realize that it has zero value, then the price drops. We all understand that it meets the college text book definitions of money, but like all college freshman who worships Che Guevara and Fidel Castro and the Bolivarian socialist utopia, you soon grow up and realize that it is all Fud. The concept of bitcoin reads well and in a text book and could operate as a functioning currency in a utopian society, but once you begin to understand that the only thing propping up the value is the next fool that is willing to pay for it, then the bottom begins to falls out. People will point to other things like gold and say that it is driven by perceived value. While this is true, however, with gold people can actually hold it in their hands and wear it as jewelry ect... Because bitcoin is only driven by speculation and had no value you better sell bitcoin now, because once intelligent money moves away from bitcoin only fools will be left holding Fud.
Smart money will move towards crypto projects that have real value. For example, Enigma, the value of Enigma is basically the value of information. Like Facebook, Google, and all the other tech companies their business model is based off of having information and selling it. Enigma will be the medium of exchange for information and the network will house and process data. If you are looking to invest in the next project like Google who will revolutionize the world, then invest in Enigma now before the price passes bitcoin.

*I am not your financial advisor and write this as my personal opinion. In full disclosure I recently bought Enigma because this project is a winner and to show how serious I am about investing in this project I actually barrowed money on a credit card through Binance to purchase Enigma. Some might say I am a degenerate speculating on this project and I will rebuttal with that I have meticulously studied the crypto market and this project far exceeds all others and will change the world in the next couple of years.

At the time of writing this article the price of Enigma is $.43, so If you like this article, feel free to throw some crypto this way, my ERC-20 wallet address is: 0x0b8396CbD9199D47216A703EB861af632fC9ad46
'''
Why BitCoin will fail – it has no value – don’t be the last one caught with BitFud in your wallet, sell your bitcoin now and invest in a crypto that has real value.
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Author: rho300
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Has Bitcoin failed as a foreign money? When will the Bull market begin? Why Ethereum? Why BitcoinHex?

Has Bitcoin failed as a foreign money? When will the Bull market begin? Why Ethereum? Why BitcoinHex? submitted by ososru to Bitcoin4free [link] [comments]

Has Bitcoin failed as a foreign money? When will the Bull market begin? Why Ethereum? Why BitcoinHex?

Has Bitcoin failed as a foreign money? When will the Bull market begin? Why Ethereum? Why BitcoinHex? submitted by Rufflenator to 3bitcoins [link] [comments]

my stockbroker friend has some interesting arguments about why bitcoin will fail. anyone wanna help me craft a response?

I agree that digital currency is the future, I just don’t know what the currency is going to be (obviously, it might not be bitcoin). I also worry that central banks (and the governments that control them) may move to kill digital currencies at some point. There is a loss of control around non-sovereign currencies and it would be effortless for paranoid governments to pass laws that made digital currency non-convertible. If this happened, then the value of bitcoin would collapse. It also seems a long way off before these currencies earn enough respect to be used as reserve currencies. The safest currencies have always been the ones backed by the most powerful navies. This has been the case for over 500 years. Bitcoin is backed by nothing except faith
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Why bitcoin as a "settlement network" will fail

Why bitcoin as a submitted by ProHashing to btc [link] [comments]

[Serious] Give me 3 of the most likely reasons why Bitcoin will ultimately fail/be a bust, and then give me 3 reasons why Bitcoin will succeed/flourish.

submitted by 1948Orwell1984 to Bitcoin [link] [comments]

Has Bitcoin failed as a currency? When will the Bull market start? Why Ethereum? Why BitcoinHex?

Has Bitcoin failed as a currency? When will the Bull market start? Why Ethereum? Why BitcoinHex? submitted by RichardHeart to BitcoinHEX [link] [comments]

Notes On Politics, Post-Bubble Economy, Stores of Value And The Future Attention/data Economy

A few notes on future politics, post-bubble economy, stores of value and the attention economy.
1) Politics - Well obviously, our current system with lobbyists that allows people with money to create their own politics is flawed. A majority of the population however are incapable of making political decisions that are beneficial for the broader population, see Brexit referendum etc. This of course is somewhat mitigated by a representative system which would work in theory but due to lobbyism has created an oligarchy and not a representative democracy. This is the current state of the world and has been for the longest time. The question here is will become these [lobbying] processes transparent enough to help solve this problem and really move politics forward? Or will the oligarchy continue to suppress this silent revolution that is going on?
2) Has the bubble created value? One the one hand one could argue the bubble that has been created around crypto and stocks has created very little real economic value. On the other hand, this bubble has created probably millions of jobs globally. Everywhere you look new companies are indeed flush enough to hire people. That hiring frenzy will stop eventually when we enter a downturn but the recovery is happening. I disagree with the skeptics that this bubble is just thin air, because when I go on LinkedIn I see real companies being created, real people creating a real industry. That is not thin air to me. Yes, of course we are in a bubble and we have inflated expectations right now and we will likely have to adjust our outlook before the year is over but things are happening right now that are inexorable.
3) Why did we abandon the gold standard? Why Bitcoin will fail as a currency but maybe not as a store of value I founded my first company after the 2009 bubble burst. I am the optimistic type of person that just does things and asks questions later in that regard. Now imagine at the same time I would have been aware of a deflationary currency called Bitcoin. Let's further imagine that at this point I would have held 50.000 in funds. If I expect prices to decline significantly (compared to that currency) and that business income to shrink over time (due to deflation) then I would have had no incentive to start building my business and would rather invest speculatively.
We are seeing this in the marketplace right now. A lot of people participated in the gold rush and postponed creating a company (which obviously costs money) because they understood that it was against their best interest to spend money on production. Therefore, Bitcoin should never become a global reserve currency as it would create an archaic system prone to complete system collapses far worse than what we have witnessed in recent years with deflation across the globe.
Then there is this:
The LoLR support presupposes that the central banks can create money out of nothing. In a monetary system where the stock of money is fixed (or growing at a constant rate), there is no such LoLR possible. This leads to the prospect of regular banking crises that will lead to failing banks and further negative domino effects on the economy. This is exactly what we observed during the heydays of the gold standard, which was characterized by frequent banking crises leading to deep recessions and much misery. Again, the Bitcoin standard, like the gold standard, is something of the past, not of the future.
A lender of last resort is required in emergencies. People may complain about it because it is their tax-money but a systemic collapse would have been far worse in 2009.
What these skeptics ignore is that Bitcoin and others can still be a store of value. But a store of value requires the backing of users(!) This means in the end the best store of value is the network that will attract the most users. That is not Bitcoin right now, that is Ethereum. However, Ethereum too has its issues like high gas cost that may stifle innovation in the space. We see companies embrace blockless chains instead that are often 0-fee chains (free transactions for all).
Other problems include distribution problems. All networks have distribution problems. In the end just like in any capitalistic system this will create an oligarchy (pareto distribution, ie 80-20). Whether that is a problem or not remains to be seen, probably not. Thanks to inflation in some blockchain systems there is still going to be a gradual redistribution possible that would make the distribution problem less problematic.
4) Conclusions in regards to new economy - data marketplaces will turn consumers into producers [of data]
Capitalism: The only way to "save capitalism" (great documentary on Netflix with same name) in my mind is turning consumers into producers. The only way that will happen is if they get paid for their attention and data because that is production they are not compensated for.
(Block)chains have the unique advantage that they will allow companies to reward eyeballs/actionable insights better than ever before. Data marketplaces will be everywhere you look (IOTA have recognized this emerging trend very early) and for once the working class has a means of participating in the production process not just as a laborer but as a producer.
Democracy: A possible way to save democracy is by creating DAO's that have the sole purpose of lobbying for causes that benefit the broader population and not just the corporations. If enough people realize the benefit of participation, such a model may even work in the future. DAPO's (decentralized autonomous political organizations) could easily collect funds from the broader population and may even act on an international basis to promote certain causes.
Final notes: Left to explore is the role of the token economy. I am skeptic about the token economy finding instant traction because of regulation. Tokens need not just utility but also a reward incentive, preferably in the form of dividends or payback schemes - but as we all know by now, these may become heavily regulated. ETH in itself may become a security the moment it goes PoS - because you are buying a coin with expected returns (which is basically a security). The same goes for interchains and other PoS coins. Will that be a problem in the long run? Probably not.
Regardless, one ought to explore the possibility that a majority of tokens issued on networks like ETH may end up becoming nothing more than consumer-loyalty rewards rather than investable digital assets. A further threat is that they may migrate to platforms provided by tech conglomerates such as Baidu or Google (two of the leading blockchain/AI corporations aside from IBM) and may not be investable at all but rather issued based on participation (work for your return!) making networks such as Ethereum obsolete for tokens (there's still smart contracts and dapps that may become more important use cases for these networks).
Edit: In regards to security tokens, see polymath.network and tzero.com
Further reading:
(PS I am not a socialist, I am a firm believer in capitalism and social capitalism)
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Why bitcoin as a "settlement network" will fail

Why bitcoin as a submitted by ProHashing to bitcoinxt [link] [comments]

The 5 largest banks in the United States today are larger than they were in 2008. They have a higher % of total bank assets, and their derivatives books are much larger... This is why we need Bitcoin, Too big To Fail Banks will end badly.

The 5 largest banks in the United States today are larger than they were in 2008. They have a higher % of total bank assets, and their derivatives books are much larger... This is why we need Bitcoin, Too big To Fail Banks will end badly. submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

02-23 04:23 - 'Why Bitcoin will Fail' (jamesallan.net) by /u/IceHistory0 removed from /r/Bitcoin within 7-17min

Why Bitcoin will Fail
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Author: IceHistory0
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Why Bitcoin Will Ultimately Fail (long term) and What Will Come Next

https://datafloq.com/read/why-bitcoin-will-fail-what-will-come-next/3691
What do you think? This lays very interesting points.
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Richard Heart - Has Bitcoin failed as a currency? When will the Bull market start? Why Ethereum? Why BitcoinHex?

Richard Heart - Has Bitcoin failed as a currency? When will the Bull market start? Why Ethereum? Why BitcoinHex? submitted by Yanlii to cryptovideos [link] [comments]

Why bitcoin as a settlement network will fail

Why bitcoin as a settlement network will fail submitted by ProHashing to litecoin [link] [comments]

Bitcoin mentioned around Reddit: Why will bitcoin succeed or fail as a currency? /r/AskReddit

Bitcoin mentioned around Reddit: Why will bitcoin succeed or fail as a currency? /AskReddit submitted by SimilarAdvantage to BitcoinAll [link] [comments]

The 5 largest banks in the United States today are larger than they were in 2008. They have a higher % of total bank assets, and their derivatives books are much larger... This is why we need Bitcoin, Too big To Fail Banks will end badly.

The 5 largest banks in the United States today are larger than they were in 2008. They have a higher % of total bank assets, and their derivatives books are much larger... This is why we need Bitcoin, Too big To Fail Banks will end badly. submitted by startup_guy2 to cryptotrader [link] [comments]

Why Ethereum Will Fail How Bitcoin Will Fail Why Bitcoin WILL Fail (You MUST... - YouTube Why Bitcoin Will Fail - Why Bitcoin Will Crash 100% And I Will Not Invest In It! Why Bitcoin will Fail - YouTube

Bitcoin’s fading dream, a reasonable case for why BTC could fail. Mitchell Moos · July 25, 2019 at 12:03 pm UTC · 6 min read. Mitchell Moos Contributing Analyst @ CryptoSlate. Info Twitter LinkedIn. Share this article Tweet Post Share Post Email. There are three narratives often used to describe Bitcoin—that it’s entering a new bull run, it’s a tulip mania, or that it’s comparable ... 10 Reasons Why Bitcoin Will Fail. Elena Stark. For people outside of the complex and exciting world of cryptocurrency, Bitcoin can be hard to understand. Many have brushed it off for years, saying that it was a fad that would disappear as quickly as the value of Beanie Babies. However, with the price spiking in the thousands of dollars for a single Bitcoin, naysayers are suddenly singing a ... Bitcoin’s original use case may have fallen flat, but those stumbles opened the door to an entire ecosystem of innovative solutions, and that is a great thing. Follow me on Twitter or LinkedIn ... In the end, bitcoin will fail at becoming a legitimate currency. These are some reasons why. 1. Its continued volatility. Ever since its advent in 2009, bitcoin’s value has been volatile—sometimes wildly so. Complicating matters have been promises that it would settle down have failed to materialize. In just the last three months, the value of bitcoin has swung by over a $100 USD. Even in ... Why Bitcoin Is Money and Will Not Fail. Mine Digital. November 25, 2019 • Share on facebook. Share on twitter. Share on linkedin. Share on reddit. Share on email. Spread the word. Share on facebook. Share on twitter. Share on linkedin. Share on reddit. Bitcoin has had detractors from time to time who criticise its ability to be recognised as a true financial asset. Here we take a look at how ...

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Why Ethereum Will Fail

Most know that I love cryptocurrency, but Bitcoin has a lot of hype with no one giving good arguments as to why it won't succeed. Let's fix that and show you... How Bitcoin will Crash 2018 Explained. Cryptocurrencies are an abstract idea to understand today so I use real dollars and coins to break down how a crypto currency works and I give my thoughts on ... In this video I discuss why Bitcoin will eventually fail. These problems won't really cause big issues for 25-50 years, but they will occur and I personally don't think the Bitcoin Developers will ... 4 Reasons Why Bitcoin Will Fail as a Currency - Duration: 9:50. Frugal Fortunes 2,333 views. 9:50. Language: English Location: United States Restricted Mode: Off History Help About ... In this video I will be show you Why Bitcoin Will Fail. You can win two award winning courses of mine. TubeMillionaire ($997) and InstaGlory ($297). Follow the steps below to win! 1. Subscribe to ...

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