Topic: Here's another Bitcoin Critics (Read 478 times)

I would rather take the jokes they made and maybe the denials after making such a statement as slapping themselves in the face because after all bitcoin has historically been publicly visible, what about the questions they made before after the facts were available with data. This is what shows the ability of someone to look stupid when their statements are not in line with the facts that happened, so I don't think it should be taken too seriously.

Besides time maybe the Facts will give them an idea of the stupidity they once expressed and now hiding their faces will be much harder especially if they are public figures who are quite well known by many people. This is another side that indirectly affects the statements that were made and should have been able to make jokes to entertain themselves.

It is not the first time actually but I'm not optimistic that it will drop to 17k. The last ATH was around 69k but the price didn't drop below 40k before this current bull that bitcoin went above 100k , so what will push the coin down to such buttom when America, Russia and some other countries are looking at positivity with bitcoin. I don't think that is a realistic prediction but it is going to be there in the memory of social media.

One thing I like about the internet is that they don't forget anything at all. This tweet will be screenshotted and saved, even if it will take 5 decades or whatever duration it will take bitcoin to achieve this $1m price they will quote and remind him of his tweet.

And for Bitcoin to drop below $17k, I don't know what will lead it to that, but even if it does happen, it's not the first time, and it will still get back to its feet, so anyone is free to predict anything; they have the platform, and they have their gadget, so they can tweet anything.

XRP and others would be obliterated from history if that was the case, you and Lucius are right.
If some point has been proven wrong for years - it's time to reevaluate things and theories you've got.

The whole truth in one sentence, it's hard to say anything more that would sum up this whole story better. It's not that I have anything against various Schiffs speaking publicly, but I wonder why people on this forum (and in general) are so fascinated with various individuals who sound like broken records?

Personally, I would be very uncomfortable if I claimed something for years and it was constantly proven to be incorrect. It's best to ignore such people.

Ridiculous is a kind word for this prediction. The guy is a FUD troll, from the moment you see his "profile". The newsletter channel that he cooperates with (or belongs to him?), supports XRP like crazy against all the other coins. He does the same and he claims that is a "Financial Analyst & Value Investor/ Sharing Unbiased and Contrarian Market Insights". Joker from the start.
So, what can you expect from a person and how do you deal (other than laughing when you're not in a good mood) with someone who says that the coin that created the entire crypto universe, and consequently the currency that he supports, will go to 0? Because if the BTC goes to 0, then where will the XRP go? To minus? Stupidity in all its glory...

I do think the Bear market will be triggered by the chain of events - not by the US doing one or two things and that would be it.
The rally didn't even reach its biggest ATH yet, in my opinion, to talk about correction in the first place.

True mate. Big companies like Microstrategy do not rush into a decision without prior deep analysis and thorough studies, especially in bitcoin where everything could end up in uncertainty. However, they might have seen the high potentials of bitcoin that some companies fail to see, that’s why fear and hesitation do no bother them. And by looking at the current status of bitcoin, I know there is no regretting from their decision making. Bitcoin could even become the key to unlock their ultimate goal as a big company.

Big companies like Microstrategy are companies that have more smart people in them even though they themselves don't say they are the smartest in the world, but from the decisions and steps they are building at this time by continuing to buy Bitcoin without excessive fear, it is quite clear that the people in it are people who have more knowledge about something. I am even still quite motivated when I see a big company like Microstrategy that is still trying to buy Bitcoin in conditions like this without involving anyone in its steps.

After the collapse of TerraUSD, FTX and Celsius we saw a really terrible bear market where the price of Bitcoin dropped by 75% from its all time high. I wouldn’t say that it is impossible for the price to go down to a level where MicroStrategy would be ruined, but it is extremely unlikely to happen anytime soon.

I wouldn’t count on a national strategic reserve holding up the price of BTC. A future administration could just sell those coins, especially if the United States keeps electing 80 year olds who have no real understanding of what cryptocurrency is and how it works.

While a huge drop is possible, this prediction from Jacob Kinge, whoever he is, is Peter Schiff level of ridiculous.

His statement shows how unwise he is.  I think microstrategy once experienced a huge loss during bitcoin dip in the late part of last year against the early  part of this year, but then they held unto the holdings without liquidating. So even if it where possible for bitcoin to fall below $15k they would not mind to still hodl without liquidating.  But however bitcoin is not going back to $17k. We should be expecting much higher amount as going back to $17k will affect the bitcoin system.

Imagine in this time and era, seeing how bitcoin have performed he’s still saying bitcoin will drop to $17,000; what a big joke he is and a big critics of bitcoin he is. I never imagined there are still critics that will stoop so low like him to still be calling bitcoin out to be a scam when it’s clear that it’s not and have been doing well year after years and cycle after cycle. Critics like this needs to be checked up to see if their mental being is good, because who says such a thing now when everything is already clear and even the governments have started considering adopting and using them for some purposes. I just hope he’s still alive to witness when bitcoin will reach $1M, those are the times he will be called back to see this tweet he has tweeted now and will be in shame by then.

I love critics. They play an important role. When making a decision, it is always great to hear different viewpoints. It makes it easier to come to a conclusion about who is right and who is full of it. Embrace the critics. Give them an opportunity to explain their stance. It is the best way to figure out if you are making the right decision.

I actually get your point. And I have to agree that there are those people who often post in the social media about this and that, but it's contradictory in their real life. It's like posting not to gain sympathy and support from the people, but to gain attention and create more engagement with them. With this, they are making more money. The more people will react, the higher the engagement is, the bigger the compensation.

In short, stop relying from other people in making our own decision. We know the reality about bitcoin, so we should stick to it, rather than following a troll that won't be helpful at all.

Why do people even pay attention to trolls? Instead of spending their time in a more meaningful way, they waste time on social media with characters like this.


Of course, Russia and China will first wait for the US to do something, and then they will panic buy BTC in order not to fall behind in what exactly? Countries with a combined GDP of tens of trillions of dollars will, according to some, go to war over something that is worth about $2 trillion today.


People who base their investments on what some "experts" say usually lose the little money they have - and whoever believes this guy definitely deserves every bad fate that befalls him.

How come I'm not finding this as a critic? To me he was only being technically drastic to what is possible to happen in the market based on his view. Perhaps he has never made any abuse or a mock on bitcoin there.
I think we all do speculations about bitcoin prices based on our analysis concerning the potential volatility of bitcoin.
Although I'm to believe that bitcoin will surely reach $1,000,000 but just going to be a matter of time and on the other side, bitcoin might dipppen beyond our expectations but that doesn't mean a fall of it. Definitely the dip of bitcoin is it situations of gathering momentum to rise above again.
So I think we should let the man Jacob breathe and then we hope to see his reaction when bitcoin surges to the doubted $1,000,000.😁

The problem with people like this is that they could be some manipulators who wants to get into the head of Bitcoin investors and probably newbies so they could cause some volatility or manipulation in the market by virtue of the information they are putting out there, and getting some form of relevance but then then paying less attention to them would drop that relevance they hope to get and get them to thinking properly and becoming more realistic so I advise we pay lesser attention to people as this with such ideas, they are just aimed at cause some unnecessary panics in the market and giving them Credence will help them achieve all of such meanwhile at the end of the day, they aren't as relevant as they actually pose to be.

You need to remember, people like him make money off twitter thanks to engagement he gets, we can thank Elon for that, it made engagement farming a business and a job for these people. So when he says something obviously wrong, just to incite anger out of bitcoin people, he is not doing that because he really thinks bitcoin will not go up, he is not saying bitcoin is bad to save people from a crash or anything like that, he is saying that to get attention.

People who dislike bitcoin for whatever reason would follow him, there will be a lot of hate on his replies and basically he would be getting paid by twitter a lot of money for creating anger out of people. He is a troll and he is a paid troll as well, a freelancer troll which is why he is doing what he is doing. Do not always consider what people are saying is what they actually believe, as you can see, all of his messages are about bitcoin being bad, nobody wakes up and starts on hating bitcoin all day, nobody is mad like that, he is doing this as a job.

This is a speculative market after all on which you could really be able to expect that there is really those critics and fudsters on which do exist into this market. The thing on here is that you dont really know if these words are just pure lies and trying out to say negative but they do actually make out some accumulation behind those negative words. If this one is real then just let them be, we do have our own opinions on different things on which this isnt really just that limited to Bitcoin talks but also in other aspects in life as well. People will always has something to say into the things that they dont really like to deal on with. So for us who do support Bitcoin after all the years then we will be finding out these things to be totally that laughable on which we know that when it comes into this aspect then you will really be having at least that positivity and sees out potential of Bitcoin when it comes to future prices.Although there's no way that it will really be giving out that assurance at least about into future prices but we do know that its likely to happen.

People with this type of attitude usually say things based on what they see at that time only not based on their experiences.
People who know usually don't like to claim they have more knowledge or act like they are smart let alone claim something is knowledge. Big companies like Microstrategy have a structure and ledger that can be shown if it is urgent and needs to be shown.

CZ said in 2020 that it would drop from 100k to 85k - and we may go in that territory too.
Only time would tell.

Highly doubt we'd see Bitcoin dropping to 17k. At most as you've said, we'd probably see it stabilize at 50k-60k IF it actually even drops. And even if we did see a drop that low, I highly doubt Microstrategy would fail to see (and acknowledge) that before and not do anything to prevent their assets from drastically dropping in value.

And to be fair to the guy, predicting is free, so just let him be and ignore. We can all laugh at him when Bitcoin reaches 1mil like how we laughed at Peter Schiff for doubting Bitcoin in reaching 100k . Results speak louder anyway.

Of course Bitcoin is highly volatile asset and for sure we know that and that is where all this critics are attacking it. Nevertheless since Bitcoin's inception, we've seen it gaining massive increase after every halving. So that alone proved that Bitcoin is a good asset to invest specially for long term.

And we can't please everybody, sooner or later there will be critics and perma bears. Even Gold and Stocks have their own critics alone. So we have nothing to say to them but look at the track record of Bitcoin. And even if it goes down to $17k, Bitcoin will continue to exist as it's too big to fall.

In general, Jacob is just trying to gain public attention by criticizing bitcoin in a negative way. He knows actually the real potentials of bitcoin, but it seems it’s hard for him to accept the fact that bitcoin price is currently going to the moon. Although we always want to honor this freedom of speech, but comments made by Jacob only prove that defending bitcoin is none of use since Jacob will always be Jacob. Let him correct his own mistake in the future.

You was right - it dropped today just like a cake, 3-4 percents down 
In all honesty, what can be said is - buy the dip and await the correction.

He's overly critical of MicroStrategy, labeling it unsustainable, while Bitcoin's 15-year track record proves its resilience. That said, big price drops have happened before-like in 2022, when it fell from 60k to under 16k, showing it's not immune to massive declines, but even after that happened, now we can see Bitcoin reach $100k. And recently there is another good news of US Bitcoin reserve that could trigger global interest,  even though the system is not yet in existence, only in discussion. Nonsense Critics like King's shouldn't be considered as anything, we can just ignore him, and see how Bitcoin keep growing.

I am convinced that bitcoin price could easily drop due to its high volatility. However, criticizing bitcoin and saying that it could drop its price heavily as low as $17k, that's quite impossible for me and for majority here. If bitcoin experience another price crash, seeing its price roll down into $60-$70k is more imaginable, $17k is totally out of the picture. It's unlikely to return to that level once more.

If you look at the bottom of the photo, you can see the Tweet was written yesterday 12/18/2024. He even retweeted what Michael Saylor said about bitcoin in 2013 when Saylor was pessimistic about bitcoin and considered it gambling to mock bitcoin.

With what is happening, I believe that most people, including strong bitcoin critics like Peter Schiff or Warren Buffett have changed their attitudes and views on bitcoin. But we are unlikely to see them publicly admit their mistakes and declare their support for bitcoin because of their huge egos and reputation. But that doesn't mean they aren't secretly investing in bitcoin.
For them, in investing, the winner is the one who makes the most profit, not spending time arguing about who is right and who is wrong. So don't fall into their trap.


https://x.com/JacobKinge/status/1869495514703843757

@OP, if you don't mind, I'd love you to mention the date that that tweet was made because it seems to me that the tweet was made a very long time ago. If it's really a recent post, then I think he is in sin to still believe that Bitcoin will roll down to $17k. People like him who thinks that Bitcoin will ever get down to $17k are just day dreaming and doesn't even have any proper knowledge about Bitcoin.

One more BTC-critic, one less. What's in it for us?

Jacob can think whatever he wants about bitcoin, that's his right. But the bad thing about his actions is that Jacob is trying to convince others to have a different (negative) attitude towards bitcoin. That is, he is trying to convince everyone that he is the only one who "sees" the scam of bitcoin (what blind people those around us are, huh? ), while everyone else is inspired by its growth and value.

To sum it up, Jacob simply overestimates his knowledge and analytical abilities. Social networks and freedom of speech have made any public expression of thoughts possible, but in this regard, many statements don't deserve attention, because they are erroneous (garbage), which are easier to ignore than to try to convince these people (to convince them that they are wrong).

Ever since i gained more knowledge about Bitcoin and got my doubt cleared concerning it's potential i stopped listening to clowns like him, who has negative impact to the society and would lead people to miss the opportunity having financial freedom in the future, i think his statement s more of a personal hate and envy for Michael Saylor than Bitcoin because of all the top holders he singled out Saylor as his center of attack.
 
 However i believe that Saylor careless about him and reasonable people like you and i are also on the same page concerning his daft statements, just like Schiff i believe that time would teach that clown a big lesson, Bitcoin has come to stay and not even a fools statement can hinder it's progress, they should keep criticsing while Saylor and pro Bitcoiners keep making profits.

Badmouthing is for what X and some other media are there for, after all.
I agree - we just need to live on and have our own heads on our shoulders.

There are many bitcoin investors who also make statements about gold like gold will become obsolete, gold will lose its appeal...so we should not be surprised or upset when a gold investor says negative things about bitcoin.

Life is like that, everyone has different interests, tastes and thoughts, no one is the same. People are always biased towards what they choose and will criticize or badmouth what is not their choice. So we should stop caring about what others say about us and instead prove to them which choice is better by producing better results. Arguing or spending time badmouthing each other won't change anything.

Agreed!
And it's not done only with BTC - you should do your analysis first and make conclusions second.
Sources may say anything they want, but you need to pile up facts and evidence to have a concrete view of a coin or a project.

People should stop paying attention to clowns like this man and his likes. Most of them are just chasing clouts and looking for cheap engagements on X. Left for me alone, I won't even reply to their stupid posts about bitcoin. Once they see that nobody is engaging them in the comment section they will stop this their useless posts about bitcoin not getting to a certain price level. He made reference that bitcoin fell to $15k thereabout a year ago, is he so blind to see where the price is today? Does that not send him a clear message that, even if bitcoin crashed to that $17k he is talking about, that it will go back up? With that post, he has just shown he is level of understanding about bitcoin is too shallow. It's just best to neglect people like him. It won't change or stop bitcoin from getting to where it all gets to, in terms of prices.

No need to believe what others tell about Bitcoin and just do your own research so you know what exactly happens. Maybe you will see many others who don't like Bitcoin will say many bad things to the public. You don't need to listens to them but still hold your Bitcoin if the price is down.

In other sides, you can buy back Bitcoin when the price is down a lot like today so you can have more Bitcoin in your wallet. Those people will regret if they can not use this opportunity to buy Bitcoin because when the price start to increase, they will not see this price but the high price.

Yes, time will teach him some lessons. We should let people like them say anything they want. But we still needs focus with our Bitcoin investment.

With the little I have known about life, people must criticize but it's unfortunate that people criticize something that has proven to be a good investment overtime, if someone will criticize Bitcoin at the level it is in terms of price then such person needed to be ignored because he or she is not being sincere to himself and at the same time not being futuristic, there are some people that needed to be silenced by ignoring them totally because they stand to deceive some people even when they know that they don't know anything about what they are criticizing.
Buddy what you just said is true, I don't know what these set of individuals stand to gain in portraying doubletandard life or are they trying to deprives people this opportunity to invest in Bitcoin when they already haev theirs intact, the people in pity much is those that will take them serious but the thing is that newbies are likely to take such things serious since they don't have much knowledge about Bitcoin investment, the best thing for newbies to do is what youve said already, thanks for such advise buddy.

Yes, the fool has made a name for himself by creating FUD. When I saw this thread I thought I had seen it recently, and indeed, it was in another thread.

That guy is using exactly the same argument as Peter Schiff. You guys decide who you believe, who you think understands bitcoin and MSTR better, Peter Schiff or Michael Saylor. I for one have 0 concern for what these fools say. I am an investor in MSTR and I know the business model very well, which these fools haven't no idea about.

these people always speaking so loud about the "if" scenario knowing well they are the one who keep fading on BTC and sucessfully missed the opportunity of 4x his wealth this bullrun alone and become salty about it.

you're just wasting your time arguing against these people, they don't seek real genuine discussion but just trying to get mad and that's it, they thought the world owe them and will hope a catastrophe upon bitcoin for the sake of fulfilling his ego.

so, yeah, just ignore them, just another massive waste of time.

A different day to view people criticize bitcoin, it’s so common even at this level also I don’t get why they keep bringing this out for others to read and judge. I’m sure a lot of opposition will be going on perhaps bitcoin might stand as a threat or it’s just a personal beef, even at this extend the US government is in support of bitcoin market not just the support many more. If the price should experience a decline $17k dollars is so low meanwhile a lot of people think they’ll never meet the price at the current price level due to the circle, past event can’t determine the present result let’s just take the few history bitcoin made as an example probably they should study bitcoin first before speaking such about the price. For the fact the writer had something to say concerning MicroStrategy in relate with liquation shows it’s not just about bitcoin alone if I’m not mistaking.

I don’t know the level of rationality that would actually result in people that come up with this kind of speculation about Bitcoin do have. Somehow, they happen to fail every time but, never relent to come up with yet another speculation on how Bitcoin would be at the bottom. The worst part to it is that, you find fanatics that would be ready and willing to go along with whatever they said every time rather than, taking up Bitcoin head on.
Expecting a crash from $106k to $17k, even with Bitcoin attaining mainstream, it’s hard to see the possibility.

The higher the adoption goes mainstream, the lesser the volatility becomes and the more stable Bitcoin becomes, I am aware of that fact, and we are way above the expectations for Bitcoin to decline to that low price of around 24k price, but critics such as this one won't forget to remind you how close you are to liquidations since the time distance between the last below 24k price a d the current price of above 100k price, what those critics failed to consider before creating such fuds is the fact that bitcoin has burned a lot of candles in price within the shortest period much and it will take almost impossible situations to drag the price down to half of what it right now.

Exactly, in as much as Bitcoin antagonist will never cease, one of the funniest parts of it is that they can't stop Bitcoin from heading forward, for sure even if Bitcoin might drop it has the potential enough for it to up again and this has been a factor and that is volatile nature of Bitcoin, surely while most of them my be saying all sorts of negative things about they still be very busy buying Bitcoin just for them to be the only ones that will beneficiary to will becomes of Bitcoin in the future and that is greediness and I know a lot of people will definitely fall for it while others may not, yeah being very careful with the informations will process online is very  as important as not take wrong decisions that we will regret later, we should be able to filter informations we see in the Internet before making our conclusions.

The cycle that we're getting into isn't going to allow the past prices to be seen again. Remember the 3k boyz? they're already out, next was the 10k boyz, and so on. You have to look at that chart that we always get low that's higher than the past low for each cycle. So don't be emotional with people like him, if he says that Bitcoin will never hit $1M, it's most likely that it will and when it does, he's probably already stacked up and played with the feelings of people that have reached his tweet. In the past, many did even said that Bitcoin will never hit $100k.

There is one thing about assets that people are adopting which you can see in bitcoin. As the adoption continues as it go mainstream, the volatility is decreasing. Bitcoin low price in 2022 was $15500 which is very close to $17000. If the bear market will come next, I do not think bitcoin will fall below $30000. If it eventually go below, it will not go below $24000.

We can't say never when it comes to bitcoin price speculation, although you are right in reality since bitcoin have already done x6 of $17000 and still counting upwards more than it possibility to go downwards, gues the fomos is coming from someone who have missed out in the uportunity that micro strategy utilize, acquiring bitcoin at that low price when bitcoin was way below $30k to $20k is such a great one such opportunity may never come by again, so the hate on those holding such bitcoin positions will be high.

Same cycle of critics spreading FUD once again, this isn’t a thing new but rather something that actually suffices every time there is bull period like this or bearish moments, they said it was heading to zero after the covid and when the dump started they were like it was at least destined for below $10k and we never saw that rather what we eventually saw was a pull back from $15k to a six figures they had said it will never get to. At this period I will say we are maxed for $1m in two to three more halving to come, will the market dump to below $20k? I personally don’t see that happening now with the such highs we have.

Funny thing is Microstrategy isn’t only compromised with bitcoin holdings alone and they usually sell the top sometimes and ate frequently buying any available dips(DCA) and this usually leaves you in profits most of the time how is the liquidation coming to play here?

There will always be haters on Bitcoin no matter how much the market value continues to increase. For such people I advice ignore as they barley know anything about Bitcoin. Just like those who laughed and said Bitcoin was a shit show and would never get to $100, where are they hiding now? In the dark of course and they will remain there when Bitcoin finally gets to $1M in the future. What I can imagine is these same people hiding a reasonable amount of BTC but comes to the public to speak I'll of it.. just avoid people on social media mate as they are not worth it...

The problem with social media is that the subnormal person who writes this has no idea that no MSTR debt instrument is convertible to bitcoin, and therefore cannot be ‘forced’ to liquidate anything. Don't waste too much time with subnormals like that. If you look around you will find many who have a thousand arguments to prove that bitcoin is a ponzi scheme, and that it will end up with the price dropping to 0. What happens is that as the price rises there are less and less but there are still some left.

Bitcoin is not going below $17000 ever again. I remember when bitcoin was falling that time, some critics said something like this about Microstrategy, but the company survived and enjoying the benefits of bitcoin existence which some critics see and prefer to criticize the company instead. I remember Peter Sheriff said something like this all recently.

 One thing I dislike about people like him is that they claim to know it all, but at the end time will tell that they know nothing about Bitcoin, he claims Microstrategy is a fraud that would collapse alongside Bitcoin but forgets that the coin is 15 years and counting, I see no sense in his statement cause i don't believe that even though volatility occurs, Bitcoin would ever drop more than 50% of it's current price it could probably drop to 60k or around that figure during the bear season but definitely not $17k.

 He forgets about the U.S strategic reserve and how it would trigger other major economy like China, Russia and the rest to jump aggressively into the market thereby giving btc a support from droping to that point during the bear season. People like this would make lots of people on the media miss out on participating in digging this digital gold against the future.

 Well, i just hope no one takes his words seriously cause i could remember some Peter Schiff who saw no future with bitcoin and claim it would never reach 100k however i believe he'll be hiding his face in shame concerning that statement and just like him, people like Jacob King would learn the hard way, i just love what someone in the comment Section said to him, "Time would teach him some lessons".