Posted on 02/26/2026 8:30:06 AM PST by Miami Rebel
Since its peak last fall, Bitcoin, the world’s largest cryptocurrency, has lost almost half its value. Nearly $2 trillion of wealth has evaporated from the global crypto market since October.
We have one question. What took so long? Outside of crimes and scams, the technology is useless, and its economics are even worse.
....At a time when investors have grown skittish about riskier assets, the value of Bitcoin has fallen nearly 50 percent since October, dropping to below $70,000, proving it was only a matter of time before crypto faced the critical lens it always needed but never truly received.
....One of the industry’s main facilitators, Senator Cynthia Lummis, a Wyoming Republican nicknamed the Crypto Queen, received over $50,000 in campaign contributions from the crypto industry and investors just weeks before sponsoring a pro-crypto bill.
....If this technology is that revolutionary, why weren’t any of the giant tech firms using it? Were they too shortsighted to see the technological revolution unfolding before them? Or was the technology — which we learned was essentially a painfully slow and expensive database — just not that special?
Crypto is at best a form of private money, which has a long history of ending up in financial ruin. At worst, it is a speculative and highly volatile asset with almost no practical use, whose backers were (and still are) constantly trying to embed it into the financial system, both to increase its adoption and, should the market nosedive, stick taxpayers with the bill.
(Excerpt) Read more at nytimes.com ...
It’s a Gentleman’s Agreement.
Back in the 20th Century when I was resetting crypto gear, crypto meant something else than a type of digital currency. The New York Times editors are idiots.
The most valuable metals have to be protected by the least valuable metals. It’s what I call the currency of last resort. The church and the crown take all the gold and when there is no more gold to take they turn to silver and then to copper. When the copper is gone they get lead. The lead is given voluntarily.
1. sercet or hidden [cryptogram]
2. being such secretly and not by public avowal [a crpto-Fascist]
Also, before a vowel, crypt-
1. With crypto I can make a payment without fear that the merchant (or anyone else touching or simply seeing my credit or debit card) will put additional charges on my account.
2. With crypto I can send money around the world at minimal or zero (with Nano) cost, virtually instantly (<1 seconds in some cases). No censorship, no delays, no extra fees, no reliance on 3rd parties or their hours of operation or phone calls from their compliance departments, etc., etc., etc.
3. With crypto I can have pseudonymous or anonymous transactions as needed for protection against anything from nosy neighbors to totalitarian governments.
4. With crypto I can use multisig to make it impossible to lose my money from a single point of failure or theft at a single location as with bank accounts or any physical asset like gold.
5. Bitcoin, ethereum, etc. is scarce with defined money supply, unlike government money. That alone gives it a vast and relentless advantage against the melting ice cubes of government currency valuation.
I could go on, but being this stupid in 2026 is without excuse. Bitcoin obituaries like this are good humor and tend to appear at bottoms so consider it a buy signal.
One has to spectacularly naive to think that legacy media has to the power to sway the popular consumption of inebriants.
My company’s computer system got hacked a few years back by the Russians.
We had to pay in Bitcoin.
Cryptocurrency is great. Bitcoin is a scam.
Also known as the bigger fool theory
The New York Times endorsed Obama for president
I may finally but BTC and ETH with all this negativity. It’s way overdone and usually marks an inflection point. “The market climbs a wall of worry,” my father taught me. And it has always worked as a strategy
.
I would not be surprised if types like Putin, Xi, Maduro or Khamenei were major crypto investors.
It seems to me like pyramid scheme backed by these shady characters.
I know a Trump voter who bragged that he made six figure profits on crypto.
I haven't spoken to him recently, so I don't know how this recent crash affected him.
Oh, i know some people making killing in crypto.
The same way as there were people who made killings in Netherland on tulip bulbs long time ago
But they went crushing down!
At least tulip bulbs we real.
Crypto has no assets, no product, no employees, no auditor, no employees, no owner, no liability, no tax source, no recourse, no dividend or income, nothing but blue sky backing it. This is the same kind of idiocy that led to the Great Depression.
While bitcoin has a high price tag and the casters are consolidating into it, there are over 20,000 versions of crypto that failed, at near worthless.
I’ve heard some say the the cia is the creator. Who knows but I’ll be glad when this tiresome crap is gone.
For everyone “making a killing” with crypto there is at least someone, usually many, killed by crypto.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.