Crypto crash accelerates

When someone asks you about bitcoin at the Saturday soccer you know the bubble has reached some sort of peak:

The long term chart:

And the cause, if such things have causes. Via FT:

Comments

  1. Buy and transfer to your own wallet before August 1. Double your holdings on a hard fork. You then get ChinaBitcoin AND NewBitcoin.

  2. Yep, that’s an ugly chart. A good criticism of bitcoin/cryptos is there are so many of them, there could be hundreds of cryptos in which case where’s the value… not sure. Like the concept however.

    • DominicMEMBER

      The irony being that gold, which can’t be manufactured out of thin air, is languishing.

      Bubbles crowding out real assets. Deja vu

      • Relevant StakeholderMEMBER

        Gold has the issue of GLD, acts as a capital sink without a corresponding increase in price.

        Bitcoin has the issue of duplication.

        Finance wizards always seem to find a way to dilute the value of currency alternatives to fiat.

    • Hey bendy, at least tulips had some intrinsic value: they were beautiful to look at and could be given to the wife to atone for ones sins.

      • You absolutely right Rubi, tulips had value! This is totally contrived worthless cyber nonsense intended to make their creators rich by skimming commissions off the back off total morons of this planet. You will be able to get really stinking rich by shorting this idiotism when its end is near.