Morgan Stanley: True price of bitcoin might be zero

[The Buzz]

James Faucette, an analyst at leading financial services company Morgan Stanley, sent a research note to clients last week suggesting that the real value of bitcoin might be $0.

The paper titled "Bitcoin decrypted" included a section titled "Attempts to Value Bitcoin" in which Faucette described why it is so hard to ascribe value to the cryptocurrency.

"It's not like a currency, it's not like gold, and it has had difficulty scaling."

He concluded:

• Can Bitcoin be valued like a currency? No. There is no interest rate associated with Bitcoin.

• Like digital gold? Maybe. Does not have any intrinsic use like gold has in electronics or jewelry. But investors appear to be ascribing some value to it.

• Is it a payment network? Yes but it is tough to scale and does not charge a transaction fee.*

• Bitcoin average daily trading volume of $3bn (last 30 days) vs $5.4 trillion in the FX market.

• Est. <$300mn in daily purchase volume vs. $17bn for Visa.

Faucette backed his argument with this chart of online retailers who accept bitcoin, titled "Virtually no acceptance, and shrinking":

Read more here from Business Insider: https://tinyurl.com/yc6jp234

[Cash Bonus]

I'm absolutely sure that the Bitcoin Cryptocurrency will start becoming a very big commodity in the near future and it will become so, globally.

Bitcoin is a very big thing these days. It will work wonders for Casino Affiliate Programs.

It is already becoming very popular and it hasn't been around for very long.

[PROFRBcom]

I'm not going to bother to read that article after reading that snippet...

1) You don't get interest for holding dollar bills, yet, pounds, or any other currency either.
2) Investors ascribing value to it for a variety of reasons, but the initial creators and investors wanted it because no central bank could **** with it.
3) It is programmable money, the software powering it can, and will, be changed as consensus forms, alleviating scaling issues.
4) It doesn't trade as much as the ENTIRE CURRENCY market world wide after 9 years of existence? Wow, what a wonderful point!
5) It doesn't process as many transactions as Visa in 9 years of existence? OMG you win again with such a striking observation!

Sheesh. A big bank comes out and is anti-bitcoin. Where have we heard that before???

[MrProno]

I think the top was 20 K. It can go up to more insane value but at the end it will go back below 1000, below 100 when it will be forbidden by the US, and back to 1 (one) dollar if the US decide to put in jail bitcoin user.

The upside is just manipulation by miners (it generally go up during weekend when there is less participants) that try to bring stupid people into the game and selling them at inflated price, and at the end Bitcoins will bring a lot of tears to a lot of people.

[sweetbet]

Crypto is the future, while the current banking system will one day become a thing of the past. The banks know it and this is why they are attacking it at every chance they get.