The drop is caused because Cryptsy is collapsing, I think.
If a reasonable solution is reached, then we'll see a recover, otherwise two more years of bear
Speaking of which, I think Craptsy is dark now.
The drop is caused because Cryptsy is collapsing, I think.
If a reasonable solution is reached, then we'll see a recover, otherwise two more years of bear
Causing a fall of $ 430 to $ 370, loss of 1 billion dollars in marketcap, in 1 single day? I don't think so.
I'm sure it helped. Not Cryptsy itself, but Cryptsy reaffirming the (seemingly obvious) fact that so-called 'trustless' currencies, like filthy fiat, rely on trust.
Only instead of needing to trust legacy institutions -- greedy banks and their henchmen, the lying governments -- trustless currencies require you to trust fellers like TradeFortress, Ukyo, and Big Vern.
Yeah that was kinda my round a bout point yesterday that trust is a huge thing, and with the exchange ( another I might add ) going down and lord only knows how many thousands of dollars are now missing, to the normal joe this is not good. The media will have a field day with this for sure... again showing how much growing this thing needs to do.
Every time another exchange gets reported hacked its a reminder of Gox. Cryptsy made the final news worse by behaving exactly the same as Gox for a year+. They covered up the hack, delayed withdrawals, and eventually stopped allowing Bitcoin withdrawals citing fake excuses.
When the news got out they had done a Gox the media had a field day destroying trust in exchanges.