Funny Fake News Blog Forbes has a smear campaign on Crypto Currencies. Comparing it to the Dot Com bubble is BS
This is just getting ridiculous. Are people really buying these smearing campaigns by fake news sites like "Forbes"?
The articles are just too imbalances, and it doesn't seem that the journalists understand anything about Bitcoin. That's OK. But the sad part is that a lot of Bitcoin holders don't seem to understand anything about Bitcoin neither. If they did, why are they buying into this crap and selling in fear?
I wonder how low they can pull Crypto Currencies before they bounce back. Bitcoin has MINING costs way above $1000 at this point. Same with all other curriencies that are being mined. Bitcoin is not a TULIP. Tulips are abundant. There are only 16,5 million Bitcoins in existence. In the future, there will be 21 million Bitcoins in existence. Dot com bubble? C´mon. Seriously? At this point? No way. In 2000, the dot com bubble shaved off almost $2 TRILLION of the market. How big is the ENTIRE crypto currency market today in 2017? 140 billion! The entire Dot com market was in those days about $3 trillion. It lost more than half that in value. But it was 20 times bigger than the entire Crypto Currency market. And that's almost 20 years ago!
With Crypto Currencies we're talking Internet 2.0, AND a new way to do transactions. The blockchain will revolutionize the way Internet works, and how transactions work. It is, as John Mcafee says, the most powerful invention since agriculture.
And now that the market is 1/20th of the Dot com market 20 years ago, we're suddenly in a "tulip bubble"?
Come on..we're not. This is FUD. Don't believe it. You'll lose out.
"I’m not going to use this article to argue that Bitcoin is in a speculative bubble, however. That fact is too obvious to warrant such an argument."
" Time for these folks to get a real job."
" Bitcoin’s buzz is gone, for now. It was crushed by the heavy-handed intervention of the Chinese government, which is cooling off investor enthusiasm for the digital currency."
"That’s just the beginning rather than the end of recent efforts by big governments around the world to turn Bitcoin back into what once was -- an exotic currency for the tech savvy and romantic radicals, as we wrote in a previous piece here."
https://www.forbes.com/sites/panosmourdoukoutas/2017/09/09/why-china-crushed-bitcoin/#6a55b77329ef
I think that is the only true part about the news. Governments with strong fiat currencies will probably join China and try to boycott cryptocoins: USA, EU, and maybe few more. However, other countries with weak fiat currencies will refuge cryptocoin, and Bitcoin ban will only affect commerces and make private coins stronger.
Good point. Bitcoin and other crypto currencies is awesome for poorer countries AND poor people in rich countries. Unfortunately a lot of poor people also lack education and understanding. A lot of poor people in my own country could use their time here on Steemit, and learn how to make money on the BlockChain. I don't think a lot of them are though. They are preoccupied with tv-shows and Facebook/snap/insta.
But we need patience. It will eventually grow large enough for the masses to adapt and adopt.
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