Brett Arends -- Opinion.....!!! FEAR Monger.
Bitcoin, Ether and other cryptocurrencies may be seeing the beginning of the end.
Brett Arrends's opinion or story is anti-bitcoin or anti-cryptocurrency.
Brett Arrends stories, opinions and assumptions are clearly slanted in one direction,
away from bitcoin and probably everything else that makes people stronger and
more democratic.
Let's evaluate one of his articles:
http://www.marketwatch.com/amp/story/guid/06643874-9286-11E7-8771-BBAD9CFED079
His TITLE:
Opinion: Bitcoin, Ether and other cryptocurrencies may be seeing the beginning of the end
A very dramatic and speculative title, designed to provoke fear of the end (death)
- Cointerpoint 1: In fact, this is the beginning of over 864 cryptocurrencies, as you can see or view
at CoinMarketCap.com and click, "View All."
So you’ve made a ton of money from bitcoin, Ether and other cryptocurrencies. Sure, they’ve defied the doomsayers time and again. Which likely makes this week’s shocking plunge in bitcoin and Ether just another buying opportunity. That’s where you may be wrong.
- Counterpoint 2. A "ton" of money, as Brett calls it over exaggerates BRETT ARENDS' point to make it seem
beyond belief and made-up.
-Counterpoint 3. Sure, "they’ve defied" the doomsayers time and again. Yes Brett Arends, THATS YOU,
a chronic doomsayer!
YOU SAID: Brett Arends's ROI
Opinion: Bitcoin, Ether and other cryptocurrencies may be seeing the beginning of the end.
Brett Arends says;
Which likely makes this week’s shocking plunge in bitcoin and Ether just another buying opportunity. That’s where you may be wrong.
-Counterpoint 4. First, that was "NOT" a shocking plunge. Sheeba Jafari, of Goldman Sachs, said
that the value would go down around the "Fifth Wave" or after when it reached her price point, then,
below $5000. Also, the Chinese ICO ban. Not shocking, if you have two eyes open and watching
ethereum V.S. NEO and the ICO developments.
"....If you’re holding cryptocurrencies today, remember that no matter how much money you think you’ve made, you haven’t made a nickel until you’ve cashed it out."
-Counterpoint 5. If you are in the United States of America, there are fewer ways to "Spend Bitcoin" as you
would a common currency. Consider the few ways to spend as, A: Overstock.com, B: XBOX games from Microsoft,
C: "random" Subway sandwich shops, D: Possibly Expedia? NO Wallmart acceptance yet, NO Cub Foods, Supervalue
or Target acceptance yet and unless we talk about the state of New Hampshire, no government acceptence of
bitcoin, New Hampshire is an exception, since they (NH) are the "Live Free or Die" state and accept bitcoin for property taxes.
In the United States, you are "forced" to hold bitcoin as an investment, because you "CANNOT" spend
bitcoin in many places. In sharp contrast to Japan, the country of Japan is more accepting of bitcoin, making bitcoin
a legal currency.
Brett Arends says;
China took steps on Monday to stop “initial coin offerings” or ICOs. These are the crypto-bubble equivalent of the infamous IPOs during the late 1990s dot-com mania.
-Counterpoint 6. Established decentralized currencies like bitcoin are very, very different from the
ethereum, smart-contact-produced “initial coin offerings” or ICOs. ICO types of tokens are NOT the same
as bitcoin. ICO's are securities, according to Canada and the Canadian authority overseeing
the "sand-box" development of Canadian ICO,
....Sure, cryptocurrencies could be used by all sorts of lovely people for all sorts of lovely things. But shadow, unregulated currencies can also be used by say, tax evaders, drug dealers, money launderers and other criminals.
-Counterpoint 7. Many Fiat currencies including the U.S. Dollar have been extensively used to
launder currency for YEARS and now a NEW currency is birthed (digital/cryptocurrency) and the blame goes to that
(bitcoin/cryptocurrency) new currency.......transferring blame or shifting it from one currency to another
is NOT a rational game because the U.S. Dollar-laundering game has many more years of experience and
will NEVER end, even if bitcoin does.
"...Oh, yeah, and terrorists. Who’d a thought it?
-Counterpoint 8. A truly idiotic thought....Terrorists have been using everything they can use, new technology
is not to be blamed for terrorism's use. Don't blame terrorists, Mr. BRETT ARENDS.
Be a fear-monger, and create your own BRAND of fear and terror, Mr. BRETT ARENDS....
When these cryptocurrencies were small, it didn’t matter. But last week their total market value hit $150 billion and this number has been heading up. Do you think governments are going to be okay with a $150 billion financial network that can be used by anyone outside of any oversight? How about $300 billion? Or $3 trillion?
You have NOTHING to FEAR but FEAR it's self.