I opened a CoinBase account in 2014 with the expectation that BitCoin would eventually be an important currency. this blog post titled “A practical approach to bitcoin for regular people” marked the occasion.
I got “locked out” of the account recently and was impressed by the level of security it took to gain access to my account again. But in the process of re-establishing my account, I changed my mind on the digital currency’s future.
In short, I now conclude that there is no longer any reasonable expectation that the cryptocurrency will play a significant role in our markets in my lifetime.
4 thoughts on “Turned Sour on Bitcoin”
One day after I changed my opinion on Bitcoin and wrote this post, Merrill Lynch banned Bitcoin trading in its accounts. https://www.wsj.com/articles/merrill-lynch-bars-trading-of-bitcoin-fund-futures-1515016825
I nailed this forecast (for a change).
https://www.bloomberg.com/news/articles/2018-11-15/bitcoin-extends-rout-after-cryptocurrencies-plunge-12-percent
This week billionaires Warren Buffett and Charles Munger say Bitcoin is a “gambling device” used by “fraudsters and charlatans”.