Tuesday, February 04, 2025

Bitcoin will Eventually be Zero, Economist Predicts

Eugene Fama, the renowned "Father of modern finance," predicts Bitcoin will be worthless in a decade.

Posted by Corky at 07:31 AM | 9 COMMENTS | permalink

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Why? Cryptocurrencies "violate all the rules of a medium of exchange," Fama said on the Jan. 30 episode of Capitalisn't. "They don't have a stable real value. You know, they have highly variable real value. That kind of medium of exchange is not supposed to survive."

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"Fama, who authored the efficient markets hypothesis in the 1960s, didn't actually guarantee that Bitcoin will be worthless. Rather, he agreed when podcast host, finance professor Luigi Zingales, asked what the probability was that, "within 10 years, the value of Bitcoin would go to zero?"

"I would say it's close to one," Fama replied."

""

"Another big threat to Bitcoin voiced by Fama is 51% attack. Although such an attack would have been costly, Fama says that every transaction system faces "a problem of verification and a problem of who is enforcing the rules."

Fama, who was awarded with a Nobel Prize in economics in 2013, also insists that " unlike Bitcoin " gold is more favorable because it has many use cases. And the government's role in the crypto market may speed up the loss of value of Bitcoin.'

#1 | Posted by Corky at 2025-02-03 03:00 PM

Bitcoin is a non-linear ponzi scheme with no rules.

#2 | Posted by Angrydad at 2025-02-03 04:31 PM

Bitcoin Will Eventually be Zero: Here's When

So my Trump Coin investments are still safe??!? Whew! You had me worried for a second.

#3 | Posted by censored at 2025-02-03 04:52 PM

Bitcoin is backed by nothing.

Bitcoin is unsecure.

Bitcoin is a scam.

#4 | Posted by Nixon at 2025-02-04 09:23 AM

I think it's ff people will buy a computer bit. At least with the Tulip you had a flower... diseased though it might be... the sick ones had the most value... but I digress... ff.

#5 | Posted by RightisTrite at 2025-02-04 10:18 AM

Bitcoin is backed by nothing.

Bitcoin is unsecure.

Bitcoin is a scam.

#4 | POSTED BY NIXON AT 2025-02-04 09:23 AM | REPLY | FLAG:

Same can be said about the US dollar.

Right now the dollar has value only because you and I, to some degree, agree that it does.

#6 | Posted by lfthndthrds at 2025-02-04 12:50 PM

"Same can be said about the US dollar."

You sir, are a traitor and a fool.

No. It cannot.

Unlike crypto the dollar is backed by the full faith and credit of the United States.

America guarantees the worth of a dollar bill.

Until Trumpy destroys the full faith and credit of the "untied" states that is.

Then it will be worth nothing just like crypto.

Which is why the price of Gold skyrocketing.

#7 | Posted by donnerboy at 2025-02-04 12:58 PM

Cryptocurrencies are vehicles for criminal activity and naked speculation, nothing more, nothing less. Anyone who says otherwise is either too stupid to know better, or the president of the United States, or his chubby puppet master...

#8 | Posted by catdog at 2025-02-04 01:39 PM

#7 | Posted by donnerboy

What's golds value if the economy is destroyed and little to nothing is being produced? It may be a useful commodity for electronics and jewelry, for now. But you still can't eat it.

#9 | Posted by Whatsleft at 2025-02-04 01:41 PM

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