Meraglim Blog

Even a $31 Million Cyber-Theft Can’t Stop The Bitcoin Bubble

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

As the article above shows, the crypto-currency world is full of hacks, frauds, bugs, and simple negligence that have caused billions of dollars of crypto-currencies to just disappear into cyber-space never to be seen again.

This phenomena reminds me of the selective memory of most gamblers and stock investors. They’re always ready to tell you about their big wins, but are usually shy when it comes to describing their losses.

Likewise, bitcoin buyers are quick to point out the price appreciation in crypto-land, but seldom mention the losses of those whose bitcoins have been stolen, diverted, lost or trapped in digital “wallets” because the wallet owner lost his “private key” (something like a password), and has no chance of ever accessing that wallet again.

What this article points out is that the price action in bitcoin is impervious to such disasters. Even when the headlines are ablaze with tales of bitcoin frauds and bitcoin hacks, the price just keeps going up. That’s just one more sign of a bubble mentality that shows no signs of fading soon.

What the article reveals is that you now have two ways to lose your money. Your bitcoin can just disappear now (due to hacks, frauds, and negligence), or it can disappear later when the bubble bursts. Any way you look at it you lose.

IF THE SCIENCE IS NOT ON YOUR SIDE, JUST TRY THREATS

It’s clear that good science does not support the extreme claims of the climate alarmists. Yes, there is such a thing as climate change, but it’s slow, difficult to predict and almost impossible to model because of the complexity of the process. The climate alarmists have grabbed most of the headlines for the past ten

Read More »

WHY TRUMP WILL WIN REELECTION: NOT POLLS OR PUNDITS; JUST COMMON SENSE

Political analysts use polls, betting odds, historic trends and other inputs to make their (usually wrong) political predictions. We all remember that “experts” said Hillary Clinton would win the presidency in 2016 (they gave her a 92% chance on the morning of the election), and that the UK would vote to “remain” in the EU

Read More »

HERE’S ANOTHER ELITE WITH ANOTHER PLAN TO TAX AWAY YOUR WEALTH

The elites never rest when it comes to devising new ways to take your money through taxes, inflation or outright confiscation. The latest Trojan horse the elites are riding to take your money is climate change. The climate does change over long periods of time for reasons that are not well understood except that they

Read More »

KRUGMAN SHOWS HE KNOWS LITTLE ABOUT ECONOMICS AND LESS ABOUT FINANCE

We already knew that Nobel Prize winner Paul Krugman knows almost nothing about economics. Now, we see from this article that he knows nothing about banking either. Krugman claims that the repeal of Glass-Steagall and the actions of banks in general were not the cause of the 2008 financial crisis. The conventional wisdom is that Lehman Brothers,

Read More »
Scroll to Top