2016 Bitcoin Article - "R.I.P. Bitcoin."
Here is a great Investment article from the Washington Post on Bitcoin back in 2016 from a great investment advisor Ms. Vivek Wadhwa who knows her shit when it comes to crypto.
Investment Advisor Ms. Vivek Wadhwa had this to say
Bitcoin did have great potential, but it is damaged beyond repair. A replacement is badly needed.
Hrrmmm… Yes, beyond repair... I am starting to believe you are on to something here - Lets hear some more of what you have to say
The Bitcoin distributed network can process only a handful of transactions per second. That causes unpredictable transaction-resolution times and other behaviors that one really does not want as part of a monetary system.
No way! Now I'm really panicking here. A Handful?! what is that? Like 3- 4? how many Bitcoins can your hand hold if your hand could hold bitcoins?
DafuQ! - How can bitcoin handle billions of people trying to use it, shit, how can bitcoin even hand me and my buddies trading bitcoins? Ok. Lets hear some more of this terrifying reality of cryptocurrency...
Let’s also bear in mind what it is that makes some venture capitalists Bitcoin zealots: pure greed. That is the reason clearest to me for Bitcoin’s failure.
Fucking Greed! If there is one thing a cryptocurrency investor hates is Greed!
Apparently, her **Clear"" vision is 20/20 and she can see the incoming doom..
So, lets see what happened since this article came out
Yeah... Wow...
So, I personally don't find the Washington Post to be the best source for investment advice, but reading these types of articles does have value. It really to weed out all the hype and garbage news you might be hearing right now in 2018. It really puts into perspective how wrong most people are when they talk about cryptos and it also helps you grab the salt cube and add it to any piece of "News" or "Investment Advice" your might come across.
Good luck in the markets. I'm looking forward to 2020!
@generation.easy
Bitcoin Fanatic & Altcoin Enthusiast
I agree, with the transaction rate looking atrocious and inordinate transaction fee Bitcoin is getting long in the tooth. Put another fork in it, it's done. It's old tech compared with many alt coins available.
While I may agree with that... This article was from 2016 before the massive pump when btc moved from $400 - $20,000. Which is like 5000% in 2years.
Kind of making fun of the writer of the article for such bad timing
I've actually spent the bulk of my Bitcoin buying Silver bullion before the price cracked $5k. Silly me, at least I got something to show for it.
I was doing the same... You're not alone in trading cryptos for metals.
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