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John Paulson, Paulson & Co. president and portfolio manager, says don’t buy any cryptocurrencies. Cryptocurrencies, according to him, will eventually prove to be worthless. There is no value to them. Once the exuberance wears off, it will go down to zero.
Meanwhile, BTC advocates continue their propaganda.
Dan Held: Gold is a store of yesterday’s value. Bitcoin is a store of tomorrow’s value. Things that will never change: – Death – Taxes – Bitcoin FUD
Michael Saylor: “Everything will be all right. We do have the greatest economic machine that man has ever created.” – Warren Buffett on Bitcoin! It was a MicroStrategy until it became a MacroStrategy. Life is Proof of Work, Bitcoin. Everyday More Bitcoin locked Away.
Viewers Who Don’t Agree: Old guy says stuff about things he doesn’t know anything about. It doesn’t offer any reasoning; he’s just throwing it out there.
They go to zero. They might go to 10000000 before, but they eventually go back to their intrinsic value. So invest in tulips, baseball cards, and beanie babies. Oh man, I’m getting 2017 vibes again.
He might be rich, but he certainly isn’t bright. Another Dinosaur will bite the dust if it goes to zero. I will buy an infinite amount. He’s spreading FUD to get you to sell while they buy it all up. Look at this fossil talking like he even knows how to use a computer.
Cryptocurrencies and blockchain have clearly demonstrated just how unintelligent most of the people in the legacy finance system are. It seems I gave too many of them too much credit for too long. These guys have no clue the major problems in the financial system crypto solves. It’s going to be funny to watch guys like this FOMO in, because he will indeed FOMO, just like all the rest of them.
If the current financial system is good enough, we might never have had the financial crisis in 2008. Bitcoin does not have intrinsic value, but does the dollar have?
Viewers Who Agree: Correct. In a downturn or recession, you won’t be able to buy bread with crypto; 5000 years of economics proves it. Older People have seen bubbles; don’t ignore them. What makes Bitcoin valuable? Nothing.
Words of wisdom. Nothing valuable comes from crypto. It is just speculation in search of a greater fool.
I can’t wait until the US government steps in with strict regulations and completely wipes current crypto holders out.
