The sheer idiocy of bitcoin and why this is it's last "cycle"
Posted: Dec 20, 2024
- Bitcoin is seen as a speculative illusion fueled by the idea that there will always be a bigger fool willing to pay more.
- Every cycle of Bitcoin brings euphoric hype, mass speculation, and inevitable collapse which leaves more people financially harmed.
- Bitcoin is not innovative, has no material value, and is a financial hazard that is now too big to ignore as more of the global population is exposed to its deceptive promises.
- Due to a lack of new people to buy into Bitcoin, it is believed that the end is near.
- The outdated nature of Bitcoin, along with potential threats like quantum computing, make it a risky investment.
- The future of Bitcoin is seen as unsustainable and unlikely to liberate finance for the average person.
What do people on Reddit think?
🚨 Reddit sentiment: mixed/negative - The comments are primarily skeptical or negative about Bitcoin's long-term prospects, though some make light-hearted or dismissive remarks Summarized comments: - Some users express skepticism about Bitcoin's long-term value, predicting its decline or calling current discussions repetitive - Anecdotal evidence suggests late retail interest (such as from older investors joining platforms like Robinhood) might signal a top - A user dismisses Bitcoin criticism by highlighting past incorrect predictions - Bitcoin's nature as speculative and akin to gambling or a game is noted - Questions surrounding the plausibility of Bitcoin's astronomical growth relative to the economy surface - A sarcastic remark about users' belief in Bitcoin's demise despite holding it
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