alt Hacker NewsBitcoin gets a zero price target in wake of Burry warning
Comments
> [Burry] warned that if prices fall another 10%, Strategy (MSTR) would be billions in the red and could “find capital markets essentially closed".
According to bloomberg [1] mstr is still trading at a 9% premium to the btc it owns. Why would bitcoin falling another 10% make a difference?
Sorry to be the bearer of bad news, but PoW is going to become a liability in a world of energetic production. It is irrational to spend the same amount of energy on mining a digital token when it can be used to build and power actual productive robots.
If Bitcoin Core decides this is true and alters the algo to save the chain, it too will lead to collapse as a Balkanization will occur across the mining pools. The most likely outcome is disintegration.
Top comment of one of the standout Bitcoin-culture memes ->
"The best technical analysis anyone has done on bitcoin."
after seeing the recent surge of meme stocks, 0dte option trading, sports betting, prediction markets and funny internet coins, one thing is apparent is that people just love to gamble
so i don't believe it will ever go to zero as it has intrinsic value as a casino, if nothing else
My prediction has always been that as soon as Tether is proved to be a fraud, the game is over. All of it will experience a massive sell-off.
FSB mirror: https://archive.ph/eS2Q3
I'm doubtful that Bitcoin true believers will give up after a crash and expect that there will be buyers. At what price, though?
I see the https://occupywallst.com/yen narrative more believe
So, how many bitcoins to a pizza would that be?
That's been my target for the last... wow... has it nearly been 18 years since I started futzing around with Bitcoin for the first time?
Been a swift drop this time. My buddy goes "if only I sold it all in October", what... like the rest of the people participating in the Ponzi scheme who would also like to cash out at the top?
Looks like all those stupid bitcoin treasury companies are finally unwinding.
At least no one's sitting around pretending it's going to actually do anything useful anymore.
I will buy every single bitcoin in existence for 1 cent each.
The fact my offer exists means a zero price target is dumb.
One may think it is about quantum computers reversing the keys or something like that, but no.
This piece predicts that BTC will go to zero because it is held my MicroStrategy and is not a good hedge against stock market.
This article contains multiple lies. For starters, it is not the 5th of February. Also, 1 BTC = 1 BTC, or, in dollar terms, despite the claims, $64,400.
I didn't pay much attention to the rest of it but I can't imagine it was any better.
> Bitcoin, down more than 40% from its October peak, is now “exposed as a completely speculative asset.”
“Now”? No; it’s always been a speculative asset. The only folks who didn’t think that were those who didn’t know any better.