Tuesday, December 12, 2017
CNBC - Crypto News BitCoin Channel?
Posted by Nick
From the YouTube comments: You know, initially I thought Peter was completely wrong about Bitcoin in that it was the future. But the more I see people who have no clue about the purpose of cryptocurrencies get involved with Bitcoin, and the more I see how emotionally people are invested into it as opposed to thinking logically.... the more I see that Peter is 1 million percent right that this might be the biggest bubble ever. Peter Schiff goes after bitcoin, again. He makes some good points, but is he ultimately right or wrong about cryptocurrency? Comparing its rise to the dot com bubble, he says "if bitcoin collapses, it doesn't mean, well fine, we'll just make money in another crypto currency, it's gonna be a watershed event. They're all gonna come collapsing down, and I know a lot of people are saying 'well, ya know when the dotcom bubble burst not all the companies went to zero, and there were some companies that came back'. Yes, real companies survived that were able to generate real earnings. Most of the companies never generated any earnings and never had the ability to generate earnings, but the ones that survived were the ones that could ultimately prove that they had viability as an enterprise. Well, unfortunately, none of the cryptocurrencies are going to be able to prove that. None of theses companies are Google or even Amazon or Ebay or any of the ones that survived. As far as I'm concerned, every one of these cyrptocurrencies is Pets.com"
at 5:17 PM