[NRx]

I have never seen the attraction of investing in something that... umm... doesn't really exist. And that further this make believe product can apparently be stolen by some high school geek with a laptop sitting in study hall.

[Magnum44]

Its all a money laundry scheme, IMO. Or a way to fleece gullible investors...or both.

[equaviator]

Those two guys thought were reinventing money...HAH!

[ImJustAnotherOkie]

More like Extreme Barter.

[Reno89519]

The VIRTUAL “currency” will be VIRTUALLY WORTHLESS soon.

[Huskrrrr]

bookmark

[robroys woman]

They are reaching peak “greater fool”. This will sputter for a while, then, well, you know...

[robroys woman]

What would people say if the Dow fell from 20,000 to 8,000?

[Elsie]

Over $60 billion wiped off value of cryptocurrencies in 24 hours as bitcoin slide continues

Not to worry, as My tulips appear to be coming up soon.

[Cowboy Bob]

I'm still holding on to all my Confederate money. It will make a comeback some day!

[elpadre]

I don’t understand what this cryptocurrency business is all about. How does this affect me???

[Quilla]

A month or two ago, a friend’s financial advisor, who manages her life savings, suggested she invest in bitcoin. When she stated she put 50K into the scheme, I simply freaked out. (Bitcoin was trading around 15K at the time.) She mentioned that she had three days to back out of the deal. I strongly advised that she take advantage of that grace period and get her money back. She did. She also thanks me (and buys me a drink) every time she sees me. ;)

[Truthoverpower]

glad to see it
Complete scam from beginning

[precisionshootist]

Bitcoin will be between 20-30k by the end of 2018.

[StAnDeliver]

"These bear signals have subsequently spooked many new crypto investors who are now looking to cut their loses."

Man, no one gets it less than Arjun...

How many shorts you think were made out of Google the night before with advance knowledge of the ad ban? How much of it leaked to the Korean and Chinese markets? And...it's not against the law. Bitcoin is unregulated. No Sarbanes-Oxley, no nothing.

[Honest Nigerian]

Where to BEGIN?

There’s a sucker born every nano-second?
BTW - it isn’t just bitcoin that is overpriced. Even Amazon (which apparently makes money, after many years of losses) is ridiculously priced based on a wide range of historical measures.

I sort of wish I knew more about how to prudently structure trades and options, etc. to hedge against the stuff where people say (later), “Oh, it was clear to any fool that so-and-so was way overpriced.”

[ConservativeMind]

It is no different than saying you own land on Mercury and believe it’s worth $100. I will sell it to you at cost and you can freely resell it to others.

Of course, no one alive will ever see or do anything with this effectively intangible “real” thing, so it is all a mental exercise that is made practical only when exchanging for tangible currency or items.

This is what cryptocurrency effectively does, too.

[publius911]

I have never seen the attraction of investing in something that... umm... doesn't really exist. And that further this make believe product can apparently be stolen by some high school geek with a laptop sitting in study hall.

People have to be some kind of stupid to invest on an ephemeral idea, and expect what amounts to a weird pyramid scheme to survive.

Totally reminds me of the G-doofus and his global-warming related "energy credits" scam.
How did that work out?
Anybody know?

[Robert DeLong]

I always thought it was amusing that a fiat currency was launched to oust other fiat currencies. I was shocked when they surpassed long held currencies of precious metals. Value is indeed in the eye of the beholder.

[Chode]

it was never intended to be an investment rather an anonymous payment method

[The Toll]

It’s 2018, if you aren’t heavily invested in lead and food, you are are a moron.