Cryptocurrencies Are A Scam and Are Dead. I’m Sorry, I Was Wrong

By Matt • On • In Crypto Gold & Trading News Crypto Gold & Trading News , , , , , , , , , , 80

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80 thoughts on “Cryptocurrencies Are A Scam and Are Dead. I’m Sorry, I Was Wrong”

  2. Its rough, this has happened before. If you have the capital, now is a good time to start buying weekly. Be a contrarian investor. Crypto is the future and in 5 years people will be yelling “shoulda”, “coulda”, “woulda” bought at these prices.

    1. +John Beasley you earned your degrees within another ponzi scheme called “higher education” and probably paid good FRNs for the privilege. I paid for my degrees by spending time in the military with my life on the line. It’s all a big scam. Crypto works as long as you don’t look at it from an FRN standpoint or from a get rich quick viewpoint.

    2. +BigTomInTheBasement I agree 100% that education is a scam. I paid for degrees and did not buy new cars, so I traded one scam for another one. America is a scam. Americans are suckers. As for Cryptos, In the US of America, anything can be made into an investment scam, even houses! Americans may be some of the most successful financial criminals in the world.

    5. Because you are a sheep and a loser. Despite being such a loser, you are better off in future to invest in yourself with a small business. Want money for nothing, get nothing!

  8. I remember Jeff saying in one of his videos in mid January when BTC fell down to Around USD 15 k: “for those of you who have been waiting fir a dip (to buy BTC) this is a dip”. I took the words seriously and started investing but stopped shortly after smelling a rat with BTC breaking new lows. Jeff, it’s easy to make a bunch of contradicting “predictions” and then hand pick those of them that fit best with the reality and claim yourself to know everything in advance. But this sort of cheating won’t add up to your reputation.

    2. There is a conspiracy by NASA and other alphabet agencies regarding the shape of the earth. But you cranks got it backwards: they want to distract people with this flat earth nonsense so that we’ll forget all about the verifiable fact that the moon is made of cheese.

    4. csmemarketing that is a stupid question. If you poor water on a ball, obviously the water will not stay on the ball. But with the earth, it’s different. As it is all being held together by gravity around the ball. Also God holds it on the ball. God does it with His power.

    5. +Lysimachus78 Gravity doesn’t exist. You’re saying that “gravity” force can pull down thousands of tons of water, but that same force can’t keep a little helium balloon down on the ground? It is desity and buoyant force what rules the mass of all bodies on Earth, not the so-called “gravity” force. It’s simple, any body lighter than air goes up and any body heavier than air goes down. Gravity is an invention that up to this day no one can explain what it is… BTW Jesus Christ/God is an allegory for the yearly journey of the Sun. Actually, holly bible means sun book. Sorry buddy but there’s no god out there using any jedi-like power to keep the oceans stuck on a round gigant ball.
      The common people want to be deceived; therefore, let them be deceived – (Roman Adage).

    2. There are very few projects in crypto which will survive long-term. Bitcoin is not one of them. Bitcoin is for idealists and fools. I wouldn’t be surprised to see the price of Bitcoin drop below a thousand by next year.

    4. +Matt R Haha, okay bro. Don’t believe me. That’s good. You should stop listening to what the prophets are telling you. Jeff Berwick is just an EOS shill prophet himself.

    1. +Dr. Ho Lee Phuk …the gullability of those people who follow their advice is just incredible. Its a cult level mentality. Just go read the comments there… Poor people.
      And yes. This is not good for Jeffs credibility in any way.

    2. +Karlito’s Way And Bicks will remove all negative comments and block you from commenting again if you call him out on his bullshit. So yeah, his comments section is an echo chamber of absolute idiots.

    3. +Dr. Ho Lee Phuk .. Oh I know… he blocked me a long tome ago… Actually he shadow-banned me… I can see my posts, but noone else can… so I would just think my comments get zero likes…and zero answers… 😀

    4. +Karlito’s Way Ha, exact same here. I’d say Bicks spends a huge amount of time every day reading, removing and blocking posters on his channel. He seems to be extremely sensitive to criticism. His Road to Ruin theory is absolutely ridiculous.

    5. +Dr. Ho Lee Phuk …isn’t it funny…the “freedom fighter” wannabe capitan america…but blocking people to speak if he doesn’t agree with their opinion…you know…like Stalin. Hahahahaha

  15. The manipulating elite exist for self-forfilling prophecies. They have the money and patience to shake the tree until everyone is too weak to cling on any longer. To compete, you cannot seek or capitulate with legislations and approvals from the very system you are trying to bring down! It’s as futile as thinking the EU will give you a good deal if there isn’t infinitely more in it for them. The house always wins.

    2. I have literally followed Clif High for about 6 years ever since well before 2012 and I have even bought his reports. My conclusion is he is a fraud. He puts out BS in general terms and then he acts like he’s a prophet. If you were to analyze anything he puts out 90% is material in the news and the futuristic predictions are very seldom correct. Case and point he’s been saying silver would go over $100 every year for well over 8 years ..

  17. I think the money in BTC now are from the ‘true believers’ and ‘backs to the wall’ speculators who can take the risk of loss.
    I think the last spike in price was fueled by ordinary investors.
    These ordinary investors, didn’t buy BTC because they wanted to transact with it, or thought it was better than gold as a safe haven, they bought it because of the fast moving returns. This means a recovery in the short term (months) is not going to happen, especially when many ordinary investors who first came into the crypto market in 2017 got burnt when the bubble popped.
    Those that did HODL, only did so for a year, hence why they are bailing now, as the returns didnt pan out as they wanted.
    Many ordinary investors arent going to roll the crypto dice again, not at least for another couple of years.
    We aren’t going to see growth from BTC from it being used as a currency -its too slow and will never replace Visa or Mastercard (hmm…famous last words?).

    So for bitcoin to grow in the short term, institutional investors will need to come to the rescue; but that seems unlikely as StableCoin is now an emerging reality (backed by fiat currency and regulator approved) and is more likely to be the Crypto of the banker as it’s not in competition with the FED. A Chinese approved and backed Yuan will be very interesting.

    When ICE starts offering Futures in BTC, all this will do is take off the extreme highs and lows of the market, which will help reduce some of the big volatility, but, this wont push the price higher, it will just be more stable and predictable. This is exactly what we saw with the CBOE futures. Of course what we could really do with is Options too, to drive more speculation into the market.

    If BTC and blockchain doesnt get overtaken in the future by another Distributed Ledger Technology, or killed by Regulators, it will take another 5 years for it to get back to 10k, if it does at all.

    I think the price will continue to drop and hit $2,200 by February 2019 and below $1,000 this time next year given the same conditions.
    Obviously everyone’s guess is as good as the next person’s guess – it’s a 100% speculation market.
    No one really knows, we are all just groping around in the dark for clues, even the central bankers (perhaps even more so.)

    I definitely dont know, this is my best guess of the situation, as you can see i’m bearish.
    But I hope it goes back up with a vengence.

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