As Crash Deepens, Investors Say Bitcoin Is Headed for Zero Dollars

[highplainsdem]

https://futurism.com/future-society/crash-bitcoin-headed-zero-dollars

Analysts aren’t presumably hopeful about an imminent recovery, with some expecting the absolute worst.

“Our BTC price target is 0.0,” Pivotus Partners chief market strategist and partner Richard Farr tweeted. “That’s not just for shock factor. It’s where the math takes us.”

Farr said he concurred with Michael Burry, who famously shorted the US housing market before its collapse in 2008, and recently warned in a Substack post that further losses for Bitcoin could result in a “death spiral.”

-snip-

Farr also criticized the token for being damaging to the environment, as mining it requires copious amounts of energy and water.

-snip-

[AZJonnie]

1. "Farr also criticized the token for being damaging to the environment" YES YES YES!!!!!!

As bad as AI is in this regard, at least it does SOMETHING.

Crypto is the stupidest waste of valuable energy resources ever invented (even worse that auto racing).

Crypto is literally saying "this thing has value because it represents the completely unproductive and copious waste of resources that could've been used to actually create something useful".

Crypto is fucking stupid and needs to die

[WarGamer]

4. Most cryptocurrency does NOT use mining...

BTC is one of the last.

[AZJonnie]

16. You're correct, I'm mainly ranting about PoW schemes vs. newer PoS ones

And crypto does have some utility in terms of payment facilitation and it can be cheaper than alternatives, including in terms of natural resource usage. I'm sure there's some other ways it's not so bad

PoW crypto is what annoys me by far the most. I should've been more clear

In my defense, the topic at hand is bitcoin, so ......

[paleotn]

18. I get you on crypto. The currency of choice for smugglers, traffickers and terrorists the world over.

But AI isn't doing much other than writing uninspired term papers, buggy code, and crappy porn.

[OAITW r.2.0]

2. Is Bitcoin getting shorted?

Seems like this was a scam opportunity from the get go. I mean, what assets backed this currency? Blind faith?

[NoSheep]

20. I think blind greed backed it, no?

[Aviation Pro]

23. Stupidity

….

[modrepub]

25. Like Any Financial Thingy

You can probably leverage it with a derivative (as long as you can find someone who accepts your counter).

A lot of folks deplore derivatives. If used too much they can cause a lot of volatility. Margin calls on things like these have probably cause a lot of market volatility this week.

[OAITW r.2.0]

28. I'm no financial wizard. But

I always thought playing in derivatives was a tool to reduce the friction of market changes.

[OAITW r.2.0]

29. My younger brother's BD was Oct. 6.

Did this fact start the slide? I can only speculate.

[Hugin]

3. I saw a similar article yesterday...

“Zero Hold” It said. Basically, don’t have any is what it means.

They said that they were basing their recommendation on, you know, metrics. Saying that crapto is in no way a hedge on the dollar. It has no intrinsic value. Mainly a rehash of what DU’ers have been goin on about FOREVER.

There was one tidbit about the Bitcoin specifically that I wasn’t aware of and that is about 66% of Bitcoin is controlled by ONE ENTITY. (One person.)

[WarGamer]

5. false. the largest holder of BTC holds 5.5% and hasn't been touched since 2010

Coinbase holds 4%

The US Gov't holds less than 2%

[Hugin]

26. I'm only repeating what the article said...

Bitcoin is finite and cornered.

[WarGamer]

37. any source that claims 60% of BTC is owned by one entity can't be believed about anything

[Hugin]

39. It didn't say owned...

It’s about control. 60% of Bitcoin trade is currently controlled by one entity.

[WarGamer]

40. 100% false. That's what i proved earlier.

BTC is controlled by the people who own the pass codes to the wallets...

Maybe they meant 60% of BTC is controlled by humans with blonde, brown or black hair?

[Captain Zero]

6. Trump's family got out a month ago.

Just my hunch.

What do you bet they are already cashed it?
They probably started the run, truth be known.

Another one of his sadistic highs, for sure.

[OAITW r.2.0]

31. When we go to hard lee come about in dominant SE winds....

It drives you closer to shore. Drop sails and anchor before you really fuck up.

[sakabatou]

7. *pretends to be surprised*

[CrispyQ]

8. A friend has 3 bitcoin at an average price of $1500.

Last I knew she still had it.

[ColoringFool]

9. She should have sold @$90K.

[cojoel]

10. I knew a "libertarian"-type dude (who was never a Trump supporter)

But when bitcoin was becoming a "thing" a decade ago he was very excited about it. In particular he felt there was a finite amount of it based on the bitcoin design, and that would be stable, somehow. For some reason he asked my thoughts about it.

I said "it is kind of like a fiat currency that is not backed by the full faith and credit of any government in the world". This was not the answer he was hoping for, hahaha.

[Uncle Joe]

11. The thing I remember reading about *rump bankrupting casinos was that he made millions on them personally

It was his financial backers that took the hit.

Thanks for the thread highplainsdem

[bronxiteforever]

12. Oh

[dickthegrouch]

13. I've never understood why something communally owned (prime numbers)

could ever be considered secure.
Anyone can re-create a prime number given enough time, or processing power.
Bit coin and block chain were always destined for disaster in my opinion.

[surfered]

14. Zero seems like fair value.

[Joinfortmill]

15. It's gambling. Nothing behind it at all.

[BurnDoubt]

17. "Bad Money Drives Out Good."

I always thought it was a scam.
It certainly seems like a swell way to launder money, or offer bribery.

[ToxMarz]

19. Mining it requires copious amounts of energy and water.

So does AI and humans, I wonder if they are all competing for the same limited resources.

[Orrex]

21. Now you can buy Boardwalk OR Park Place, but not both.

[Ford_Prefect]

22. It was always a ponzi scheme built on theoretical sand.

The speculation applied to crypto mirrored the worst anticipation of untold riches applied to the early days of the internet.
Except...Crypto was always going to flop since it had no valuation at all in and of itself. The only cash involved came from those fooled into paying coin of the realm for vaporware.
People have forgotten that it was formulated as a method to avoid national banking and tax authorities, and it has been used as such by drug dealers and terrorists.

[cate94]

24. Tulips

[Gore1FL]

27. Full disclosure

For giggles I invested about $1000 into a bitcoin fund once and ultimately made about 20%. During the brief time I had it, Elon Musk said about 6-7 stupid things that flung the price around, mostly down. I sold when it climbed again and pretty much said "never again."

I guess had I kept it for a longer term I'd have made a bit of money, but I really don't like investing it make-believe. Bitcoin isn't different than the NFT idiocy except that it ate energy and didn't come with a picture or whatever.

I look forward to the nonsense ending. “Our BTC price target is 0.0.” What a lovely phrase.

[OAITW r.2.0]

34. There are a lot of artificial inputs into the Cyrptoverse.

You've traded real money for a system you do not understand.

[Gore1FL]

35. I agree.

I am not sure, though, that the system is understandable.

[OAITW r.2.0]

36. That's a feature!

Why else would Trump invest.

[Norrrm]

30. Crypto... A volatile, unstable, wishful 'currency' with no assets or gov't support backing it.

A volatile, unstable, wishful 'currency' with no assets or gov't support backing it.

The big money return in crypto is:::
1. Starting it, hyping it, selling it, and getting out, leaving the
suckers holding the bag.
2. Handling/storing it for others.
...a. Not your own money/crypto. Someone else's money/crypto.
...b. Lots of fraud/money manipulation/theft/lack of regulation.
3. Backed by trust/faith/great promises/optimism... but no
real assets.
4. It can literally disappear and good luck with lawsuits.
------------------
-------------------------------------------
A few have profited by 'investing' but not the majority.

Bitcoin is one of the very, very few that has made profit.
And that is only because enough people WANT to believe in it.
Even bitcoin has no real assets backing it.

BC is used as a fantastic example of crypto but it is a lucky outlier.

Hundreds of others have flopped.
Should the US Gov't invest in/purchase massive amounts of crypto with taxpayer 'real' money?
Every legislator approving this should be made to invest half their family's life savings in the very same crypto to show their confidence in it.

BTW... You're buying it with your 'real' money.
Will they let you buy it with your other old broken crypto?

[BannonsLiver]

33. It's always interesting the folks who are into crypto.

Creepy weirdo dead inside types. Guys who tan their nutsacks because they think it boosts testosterone.

[masmdu]

32. Will be buying XRP here and

Last edited Sat Feb 7, 2026, 01:22 AM - Edit history (1)

Periodically over the next 3 weeks to as low as .77 (currently 1.45). Last chance before likely passage of Clarity act. Tokenization of Real World Assets (RWA) is THE crypto use case.

[roamer65]

38. I'm hoping for a 1929-1933 redux.

1932 was a wonderful year for Democrats!

[awesomerwb1]

41. It does the same thing every 3-4 years

All time high > huge correction/ big dip/crash whatever you want to call it > trades sideways for a year or two > goes up to an all time high again. Repeat.

[LudwigPastorius]

42. It's up about 5% since Richard Farr's pronouncement.

I agree that Bitcoin is primarily speculative, but there are tons of other investment types without underlying value or income generation. As long as there is someone who wants to take a chance on making money, it will persist.

Personally, if I were to invest in Crypto, it would be in tokens and blockchains that have utility, or potential utility. (Ethereum, Ripple, SOL, etc.) not Bitcoin.

[Old Crank]

43. Bitcoin is 2 years older than the iphone.

As Krugman has pointed out.
We know what happened with the iPhone.
Are there any real uses for bitcoin other than speculation or money laundering?

[jmowreader]

44. There certainly are

You can...

Buy drugs with it.
Pay your ransom when some asshole's malware encrypts your hard drive with it.
Hire a hitman with it.
Buy illegal weapons like machine guns and high explosives with it.

The problem with using it for anything legitimate is the price per bitcoin...it's like "one gallon of milk, 2/100,000 of one BTC."