The Bitcoin bubble is being hyped www.taxresearch.org.uk/Blog/2025/01... With Trump in the Whitehouse the Bitcoin bubble is being promoted with vigour by those hoping to make a quick buck. The truth is that Bitcoin is nothing more than a meaningless entry in a computer ledger. - ThreadSky

richardjmurphy.bsky.social • 131 days ago

The Bitcoin bubble is being hyped https://www.taxresearch.org.uk/Blog/2025/01/24/the-bitcoin-bubble-is-being-hyped/ With Trump in the Whitehouse the Bitcoin bubble is being promoted with vigour by those hoping to make a quick buck. The truth is that Bitcoin is nothing more than a meaningless entry in a computer ledger.

Comments

roydavidwilliams.bsky.social•130 days ago

Whereas a tulip bulb makes a nice flower!

hughbarnard.bsky.social•131 days ago

'Bitcoin's capped supply of 21 million ensures scarcity, making it resistant to the inflationary pressures that plague fiat currencies.' Ha.

russellrukin.bsky.social•127 days ago

Meaningless... like £'s and $'s then. Only increasing in value by thousands of % against all other currencies and being global and open for anyone on the planet to store and use.

https://www.youtube.com/watch?v=oh2HcmPu8Ok

Check your financial privilege Richard.

bitcoinbro.bsky.social•127 days ago

Goldbugs everywhere are catching on that Bitcoin is better.

cpcnw.bsky.social•130 days ago

It’s that Doge Coin you gotta steer clear of 😆

polarpetrus.bsky.social•130 days ago

📌

fudoka.bsky.social•130 days ago

If Governments can 'print money' surely all finance is just a dream.

johnhatchard.bsky.social•130 days ago

"Trump sets U.S. on path to Bitcoin reserve" ...

I added extra links not included in the original article.

It's a Bluesky thread, so tap above the 'article pic' and scroll ⏬

batistvh.bsky.social•128 days ago

Value is subjective. If people think that Bitcoin has value, it has value. If you don't see value in it, it's okay too. It is up to the market to decide if Bitcoin is valuable or not.

jaco45er.bsky.social•131 days ago

A friend messaged me the other day saying “his” pal had bought £20k worth in anticipation as he’d heard it was about to take off.

As far as I know, he’s still waiting, don’t believe the hype was my advice !!

mottypower.bsky.social•130 days ago

Literally the best performing asset of all time.

myvoice24.bsky.social•131 days ago

Is it like buying air? I am not an economist bit that is how I see it.

batistvh.bsky.social•128 days ago

Bitcoin is scarce. Air is not. Both are very useful. But we only pay for Bitcoin because it is scarce.

beeblebrox.com•130 days ago

I was a pioneer of e-cash and private currencies in social networks (since the beginning of the 90s) and did a load of work on early blockchain models (which are actually very useful things, used appropriately). But have I and my colleagues bought into the Bitcoin Bullshit? We have not.

batistvh.bsky.social•128 days ago

Blockchain is only useful when you send value on a decentral way. Otherwise it is just a database. And why is Bitcoin up while you don't see value in it? And what happened to e-cash?

beeblebrox.com•128 days ago

Value is a secondary characteristic - application level - of a blockchain. Its primary capability is as a provable, non-fungible record of transaction. And yes, it’s best as a distributed model but, again, the storage model is not a primary characteristic

batistvh.bsky.social•128 days ago

If you remove Bitcoin as a token away from the Blockchain, you have nothing left. So the value connected on the token must be of primary importance and therefore not secondary.

beeblebrox.com•128 days ago

‘Bitcoin’ is too specific a term - it’s just one example (and a very poor one) of a Proof. The PoW model was created by an ideologue with no understanding of consequential impact of using arbitrary and non-productive proof models, hence the exponential compute demands.

batistvh.bsky.social•128 days ago

Bitcoin does not 'demand' exponential computer power. Here you can compare 2009 with 2025. In both periods the blockchain worked very well. It is the dynamic (incentives) of mining that causes the level of computer power. POW works very well with low opportunity cost energy.

darrentc.bsky.social•131 days ago

Gold is a soft metal that is useless for tool making.

jaco45er.bsky.social•131 days ago

If you are giving some away, more than happy to take it off your hands 😊👍

repetah.bsky.social•129 days ago

Likewise, feel free to send me your worthless Bitcoins

raymondinho.bsky.social•131 days ago

It's physically real though and looks nice

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