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Eddy Zillan’s i8, A Cryptopia In Puerto Rico And Why Bitcoin Is Going To Zero

But here's the thing. I've got to tell you that I don't think I have ever witnessed anything that is as absurd/insane as the cryptocurrency mania.

But here's the thing. I've got to tell you that I don't think I have ever witnessed anything that is as absurd/insane as the cryptocurrency mania.
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5 comments on “Eddy Zillan’s i8, A Cryptopia In Puerto Rico And Why Bitcoin Is Going To Zero

  1. Satoshi Nakamoto, who may or may not be a real person, and his early followers in 2008, used distributed computers to employ blockchain methodology in order to validate transactions with bitcoin. They hoped this would free people and their transactions from the control and view of governments and central banks. We suspect, though, that the blockchain methodology on which crypto is based will ultimately have the exact opposite effect.

    ,.. history and logic would suggest that eventually digital cryptocurrency will replace money as it currently exists. However, in this brave new world we suspect there will be significant differences from what Nakamoto and his followers envisioned. Everyone will have a blockchain wallet. All transactions and accounts will have digital identifying numbers. Blockchain methodology will insure against counterfeiting and other frauds by having a digital ledger of transactions that is transparent to the world. This is the utopia that bitcoin founders envisioned but before this occurs we suspect governments will take over the cryptocurrency universe. Then governments would ultimately know the exact real identity of all blockchain wallet owners, giving the government knowledge of all transactions. Governments and banks, central and otherwise, would then be the sole creators of the cryptocurrency and would control the amount outstanding…”
    https://seekingalpha.com/article/4136571

  2. There are literally hundreds of these. A good portion have market caps in the multi, multi millions. Over 10% have market caps over 100 million! Batshit crazy.

    https://www.investing.com/crypto/currencies

  3. H-come on man there is a great “noobie coin” out and it can’t miss. Sleazecoin is a winner a hundred bucks will get you a million we just need a few “racoons of finance” to sleaze it forward, are you in.

  4. Well at least cryptos and the i8 have something in common devaluation.
    https://www.autotrader.com/car-video/video-heres-why-the-bmw-i8-is-depreciating-rapidly-273390

    “I assume BMW expected a much higher residual value on the i8, but the recent flood of 3-year-old lease returns has left the market saturated with cars. Currently, there are 118 used BMW i8 models for sale on Autotrader, and 14 of those are priced under $80,000. “

  5. daytraitorhodlon

    A little risk management can go a long way.

    While I agree that any one making such risky speculations as crypto on unsecured and interest bearing debt is insane, I will often agree that taking the riskiest approach in a high risk situation is insane. There are just a lot of other strategies to employ. It still probably make sense to only speculate with money you are *able* (not just willing) to lose, but there are some potential advantages to cryptocurrencies in that situation also; If I only have $100 that I can risk losing, lets say for the entire year, can you really tell me to buy stock with that money (with a likely 5% fee), when I could buy a cryptocurrency with lower fees and an actual chance to appreciate meaningfully. I am not trying to be a crypto evangelist as much as advocate for a reasonable analysis, I appreciate the distinction that was made in this post to that effect.

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