“I’d say Bitcoin is doomed in the medium-term future. Farrell is right: it can be a bit of a curiosity, but if it ever enjoys wider success, that very success will kill it.”
$311·
Kevin Drum
Political Blogger
Media
2quotes
2posters
2 wrong calls across 1 years of denial. 2 framed for posterity. No signs of stopping.
The Greatest Misses
“I’d say Bitcoin is doomed in the medium-term future. Farrell is right: it can be a bit of a curiosity, but if it ever enjoys wider success, that very success will kill it.”
$311·
They Weren't the Only Ones Wrong
“Bitcoin is “fool’s gold and anybody buying it is ultimately a fool”
— Peter Schiff
$65,992
“Bitcoin can collapse completely.”
— Agustín Carstens
$34,261
“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”
— Donald Trump
$11,350
“#Bitcoin, crypto, and blockchain will likely go down as the biggest example of popular delusions and the madness of crowds in world history.”
— Peter Schiff
$81,483
“I personally think that bitcoin is worthless.”
— Jamie Dimon
$57,490
“Cryptocurrencies play almost no role in economic transactions other than speculation in crypto markets themselves. And if your answer is ‘give it time,’ you should bear in mind that bitcoin has been around since 2009, which makes it ancient by tech standards; Apple introduced the iPad in 2010.”
— Paul Krugman
$30,416
“Bitcoin is a fraud.”
— Jordan Belfort
$4,161
“Remember, Bitcoin is a meme coin.”
— Peter Schiff
$102,052
“The Bitcoin Skeptic: BTC Value Will Crash 99% for the Same Reason Tumblr’s Just Did”
— Lawrence Meyers
$48,357
“I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making.”
— Prince Alwaleed
$5,914
“Bitcoin is a highly speculative asset, not a currency. Unreliability, lack of stability, and susceptibility to fraud will continue to plague this cryptocurrency. Don't be tricked, buying Bitcoin is a fool's game.”
— Steve Hanke
$27,271
“This is a speculative frenzy. Right now, this is a bubble. It's a cult. When you're in it, obviously you need more people to believe in it, because the price can only go up if other people buy in. In that sense it's a natural Ponzi scheme – a lot of it is just plain greed.”
— Peter Schiff
$4,350
“Bitcoin is “fool’s gold and anybody buying it is ultimately a fool”
— Peter Schiff
$65,992
“Bitcoin can collapse completely.”
— Agustín Carstens
$34,261
“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”
— Donald Trump
$11,350
“#Bitcoin, crypto, and blockchain will likely go down as the biggest example of popular delusions and the madness of crowds in world history.”
— Peter Schiff
$81,483
“I personally think that bitcoin is worthless.”
— Jamie Dimon
$57,490
“Cryptocurrencies play almost no role in economic transactions other than speculation in crypto markets themselves. And if your answer is ‘give it time,’ you should bear in mind that bitcoin has been around since 2009, which makes it ancient by tech standards; Apple introduced the iPad in 2010.”
— Paul Krugman
$30,416
“Bitcoin is a fraud.”
— Jordan Belfort
$4,161
“Remember, Bitcoin is a meme coin.”
— Peter Schiff
$102,052
“The Bitcoin Skeptic: BTC Value Will Crash 99% for the Same Reason Tumblr’s Just Did”
— Lawrence Meyers
$48,357
“I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making.”
— Prince Alwaleed
$5,914
“Bitcoin is a highly speculative asset, not a currency. Unreliability, lack of stability, and susceptibility to fraud will continue to plague this cryptocurrency. Don't be tricked, buying Bitcoin is a fool's game.”
— Steve Hanke
$27,271
“This is a speculative frenzy. Right now, this is a bubble. It's a cult. When you're in it, obviously you need more people to believe in it, because the price can only go up if other people buy in. In that sense it's a natural Ponzi scheme – a lot of it is just plain greed.”
— Peter Schiff
$4,350
“Bitcoin is “fool’s gold and anybody buying it is ultimately a fool”
— Peter Schiff
$65,992
“Bitcoin can collapse completely.”
— Agustín Carstens
$34,261
“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”
— Donald Trump
$11,350
“#Bitcoin, crypto, and blockchain will likely go down as the biggest example of popular delusions and the madness of crowds in world history.”
— Peter Schiff
$81,483
“I personally think that bitcoin is worthless.”
— Jamie Dimon
$57,490
“Cryptocurrencies play almost no role in economic transactions other than speculation in crypto markets themselves. And if your answer is ‘give it time,’ you should bear in mind that bitcoin has been around since 2009, which makes it ancient by tech standards; Apple introduced the iPad in 2010.”
— Paul Krugman
$30,416
“Bitcoin is a fraud.”
— Jordan Belfort
$4,161
“Remember, Bitcoin is a meme coin.”
— Peter Schiff
$102,052
“The Bitcoin Skeptic: BTC Value Will Crash 99% for the Same Reason Tumblr’s Just Did”
— Lawrence Meyers
$48,357
“I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making.”
— Prince Alwaleed
$5,914
“Bitcoin is a highly speculative asset, not a currency. Unreliability, lack of stability, and susceptibility to fraud will continue to plague this cryptocurrency. Don't be tricked, buying Bitcoin is a fool's game.”
— Steve Hanke
$27,271
“This is a speculative frenzy. Right now, this is a bubble. It's a cult. When you're in it, obviously you need more people to believe in it, because the price can only go up if other people buy in. In that sense it's a natural Ponzi scheme – a lot of it is just plain greed.”
— Peter Schiff
$4,350
“Bitcoin is “fool’s gold and anybody buying it is ultimately a fool”
— Peter Schiff
$65,992
“Bitcoin can collapse completely.”
— Agustín Carstens
$34,261
“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”
— Donald Trump
$11,350
“#Bitcoin, crypto, and blockchain will likely go down as the biggest example of popular delusions and the madness of crowds in world history.”
— Peter Schiff
$81,483
“I personally think that bitcoin is worthless.”
— Jamie Dimon
$57,490
“Cryptocurrencies play almost no role in economic transactions other than speculation in crypto markets themselves. And if your answer is ‘give it time,’ you should bear in mind that bitcoin has been around since 2009, which makes it ancient by tech standards; Apple introduced the iPad in 2010.”
— Paul Krugman
$30,416
“Bitcoin is a fraud.”
— Jordan Belfort
$4,161
“Remember, Bitcoin is a meme coin.”
— Peter Schiff
$102,052
“The Bitcoin Skeptic: BTC Value Will Crash 99% for the Same Reason Tumblr’s Just Did”
— Lawrence Meyers
$48,357
“I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making.”
— Prince Alwaleed
$5,914
“Bitcoin is a highly speculative asset, not a currency. Unreliability, lack of stability, and susceptibility to fraud will continue to plague this cryptocurrency. Don't be tricked, buying Bitcoin is a fool's game.”
— Steve Hanke
$27,271
“This is a speculative frenzy. Right now, this is a bubble. It's a cult. When you're in it, obviously you need more people to believe in it, because the price can only go up if other people buy in. In that sense it's a natural Ponzi scheme – a lot of it is just plain greed.”
— Peter Schiff
$4,350
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