Free Bitcoin 2020

Image
Free Bitcoin 2020 Earn Free Bitcoin Daily in Internet 2020 Learn different ways to earn Bitcoins by completing simple tasks, Captcha’s and sell your Bitcoins for real money. Free Bitcoin 2020 What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency. Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets. Bitcoins in its pure essence is money. It is digital curren

Economist David Rosenberg Pleads Ignorance on Bitcoin After Predicting Massive Bubble

Economist David Rosenberg Pleads Ignorance on Bitcoin After Predicting Massive Bubble

Economist David Rosenberg has pleaded “ignorance on bitcoin” after saying that the cryptocurrency was in a massive bubble. He admitted that bitcoin has exceeded his expectation but he still prefers gold because he understands it a lot better than bitcoin.

‘Bitcoin Has Exceeded Almost Everybody’s Expectations’

David Rosenberg, chief economist and strategist at Rosenberg Research, admitted Thursday on Trading Nation that bitcoin had exceeded his expectation.

His admission came after he said in December that bitcoin was “in a massive bubble.” The economist told Bloomberg at the time that BTC was “just a classic, follow-the-herd, extremely crowded trade.” Furthermore, he made the easily-disproven claim that bitcoin’s code does not limit the supply to 21 million coins, believing that “there’s really nothing in the protocol to suggest that the supply of bitcoin can’t go up once we hit that limit.”

When asked on Thursday about how he sees 2021 playing out for bitcoin, Rosenberg said:

I’ll just plead ignorance on bitcoin. I just happen to understand gold a lot more.

He proceeded to compare bitcoin to gold. “I’ve been very bullish on gold,” he noted. “The one thing I know about gold is that it has one-fifth the volatility that bitcoin does.” While reiterating that he prefers gold to bitcoin, the economist conceded:

I think bitcoin has exceeded almost everybody’s expectations, maybe not everybody, certainly has exceeded mine.

Looking at bitcoin’s chart, Rosenberg was also asked whether he sees bitcoin as “the biggest bubble going on right now.” He replied:

I’d say that there’s some other high flying stocks in the S&P 500 that could rival that but I would say yeah … all you had to do was take a look at the chart of bitcoin for the past couple of months and it looks parabolic.

Pointing out that one can overlay the bitcoin chart for the past couple of months with the dot-com stocks, he concluded: “I’m not going to say it’s going to plunge like the dot-com stocks did but the parabolic move in bitcoin in such a short time period I would say, for any security, is highly abnormal.”

Nonetheless, Rosenberg said that for investors who “want to get rich quick” and “can stomach the volatility, I’m not going to tell you not to go buy bitcoin.”

Do you agree with David Rosenberg about bitcoin? Let us know in the comments section below.

The post Economist David Rosenberg Pleads Ignorance on Bitcoin After Predicting Massive Bubble appeared first on Bitcoin News.



from Bitcoin News

Hot News

Free Bitcoin 2020

Defcon Speaker Discusses Liberating $300K Worth of Bitcoin From an Encrypted File