Turned Sour on Bitcoin

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 responses to “Turned Sour on Bitcoin”

  1. 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

  2. […] has lost 80% of its value since I wrote this pessimistic prediction “Turned Sour on Bitcoin” a year ago. Last week the cyber currency market dropped $700 […]

  3. Tony Novak Avatar
    Tony Novak

    This week billionaires Warren Buffett and Charles Munger say Bitcoin is a “gambling device” used by “fraudsters and charlatans”.

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