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I think you're mistaken about what a "fundamental" is. Bitcoin is speculation. It's also the kind of speculation where you'll never be able to logically deduce the expected outcome, because you'll never have the proper information to make correct decisions (unless you're friends with someone like Karpeles).

Here's an example of a fundamental:

By looking at the economics of a business, the balance sheet, the income statement, management and cash flow, investors are looking at a company's fundamentals, which help determine a company's health as well as its growth prospects. A company with little debt and a lot of cash is considered to have strong fundamentals.

There are more kinds of fundamentals, of course. But all of them have a common theme: publicly available information, or logical reasoning (which depends on having publicly available information).

Bitcoin's market value is determined by insiders who hide all information from you. Therefore, there are no fundamentals right now. Not until the price is determined by something other than people like Karpeles.

You invested in a time of great volatility, and got hurt. That doesn't mean the game is broken. That MtGox manipulated the market is irrelevant.

I doubt most investors would agree. Gamblers, perhaps, since at that point "the game" is literally gambling, not investing.



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