BitCoin’s “Network Effect” is a euphemism for pyramid scheme

The “network effect” has already been debunked many times indirectly in my other articles, particularly the one where I rebut Max Keiser and go into detail how building upon a protocol does not guarantee success of any individual cryptocurrency.

It seems like this mantra claiming that BitCoin has intrinsic value due to its “network ef… Read more

How much is social media group-think fueling financial bubbles like BitCoin? #HODL

I think now is as appropriate of a time as any to tie together two topics I’ve written about extensively on this blog: anti-social media and cryptocurrencies.

It’s hard to ignore the financial news from yesterday: cryptocurrencies with another double-digit percentage drop, stock markets dropping about 5%, volatility up 100%.

With regards … Read more

Thursday Thoughts: cryptocurrency hype is dead, enough with Russia

Thursday Thoughts are a series of recent observations too short to merit their own article, but still important when analyzing today’s technological, economic and psychological trends.

A moment of silence for cryptocurrencies

Another 10% rout today brings the total drop-off over 50% within the span of six weeks for BitCoin and many other cryptos.  T… Read more

If Tuesday was a violent selloff, then the looming recession will be armageddon

Oxford Dictionary’s 2017 word of the year was “youthquake”.

Merriam-Webster Dictionary’s 2017 word of the year was “feminism”.

A word that would run in my personal Top 10 of 2017 is “violence”. In many ways, it is related to the above two: “youthquake” and “feminism”.  Th… Read more

Debunking more BitCoin propaganda: down 50% in 10 days, up 1000% in 10 months

Who cares that BitCoin dropped 50% in 10 days. It has gone up 1,000% in the past 10 months!

This persuasive line is not specific to cryptocurrencies, but to any pyramid scheme.  For the impatient and greedy, the statement reads like “get in now and join the party or miss out forever”. For anyone that stops and thinks about it critically, it tells y… Read more

Debunking more BitCoin propaganda: blockchain “revolutionizes trust”

In this edition of DBP (Debunking BitCoin Propaganda), I am not going to attack the premise that the blockchain algorithm solves a decentralization problem.  It does.  By distributing the information among millions of clients it becomes very difficult to manipulate the ledger, thus all “coins” that exist in the ecosystem utilizing any o… Read more

DogeCoin? Such wow! When an Internet meme has a $2 billion valuation

Simultaneous tears of laughter and tears of sadness were shed when readers of Business Insider and Yahoo! Finance were graced with the doge:

An Internet meme’s lifespan is usually pretty short before its comedic effect wears off, but somehow this five-year old joke has made a comeback because of the cryptocurrency surrounding the meme.

If that isn&… Read more

Debunking more BitCoin propaganda: “you can’t efficiently transact with it, but the same is true with stocks”

It’s what cheerleaders do best — chant team slogans and optimistic phrases to psyche up the home team.

Here’s a slogan I see peppered throughout financial message boards, particularly in threads that dare criticize cryptocurrencies:

You can’t efficiently transact with [BitCoin], but the same is true with stocks

A bit of paraphras… Read more

Debunking more BitCoin propaganda: double-spending, money laundering, Baird’s hashgraph and more

Three cryptocurrency articles in one week.

It’s hard to ignore cryptocurrencies when given another historic opportunity to witness mass hysteria in real-time, this time in a field that I’ve essentially studied my entire life (computers, math and engineering).

Only in the past decade or so I dedicated more time to study psychology to comple… Read more

When there is a will there is a way: world banks and governments set to drive BitCoin to $0

Coincidentally a week after my prediction that governments would use the bursting of the crypto bubble as a scapegoat for continued bad economic policy and the unraveling of all other debt-fueled bubbles, RT releases a report on Saxo bank’s prediction that Russia and China are on board with that plan.

“The rise of bitcoin and other cryptocurrenci

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