FabSwingers.com forum: Bitcoin

By *asycouple1971 OP Couple
over a year ago

midlands

Who is still holding onto their Bitcoin?

It has dropped from £35k to £18k in 6 months.

Looks like it will go much lower.

Anyone thinking of buying the dip.

In Nov last year it was about £48k.

Will it go back up or is it finished?

By *rPeachyMan
over a year ago

Bristol

Peope are realising that their bitcoin won't buy them groceries or electricity or anything else for that matter. It's just a ponzi scheme at the end of the day.

It'll still hve a future but all the other shitcoins will go to 0p

By *partharmonyCouple
over a year ago

Ruislip

"Peope are realising that their bitcoin won't buy them groceries or electricity or anything else for that matter. It's just a ponzi scheme at the end of the day.

It'll still hve a future but all the other shitcoins will go to 0p"

That's an interesting take that it's a Ponzi scheme. At first I thought no it isn't, and then I thought actually it kind of is.

The thing to remember about these digital currencies is that they are no more currencies than anything else you can buy and sell. They are not backed by anything, like a currency is backed by a government. They are assets, nothing more, and are only worth what somebody is prepared to pay for them. If people don't want an intangible digital thing then it's going to be worth shit. That makes it extremely vulnerable to market swings like this so they are terribly unstable.