Hi Ev'rybody.
Last days we witnessed a 20% crash in bitcoin, not to sepak about other crypto, including ETH that had the most solid growth till then.
These anomalies, as good as they might be for day traders, does not speak well about the BTC as a reserve currency.
As I said before, there's a reason why paper money was pegged to gold prices and reserves. Because any currency needs a reference value if it is going to avoid those dramatic ups and downs. The euphemism of USDT is just out of question.
And even though I'm strongly against any regulation of BTC or any other crypto, I have to say, leaving it freely float poses dangers such those I said, plus manipulations of speculators who can, by their own operations, affect prices at will.
So, I will insist that crypto needs a value reference. And as I said in my other posts, the best reference value is ENERGY. The most pure asset in the universe.
And there's got to be a way to tie the value of bitcoin to Joules. There's already SOLARCOIN, but to be honest I'm not sure how that is working.
Future economy has to be energy-based.
Please feel free to download my proposal in pdf:
Teraflops and Terawatts at:
https://drive.google.com/open?id=0B7JgGimv_JMJaWdYQXdtb1RVZVEGreets,
http://estaciontrend.blogspot.com/My opinion is that the threat is the effect of the btc to our economy and not the btc itself. It is how people would use or utilize the power of btc. Transaction cannot be easily hacked unless brute forced but it would takes millions of years so therefor it is untouchable and it is just the patronizers that reality is going beyond it's purpose. You also right that it needs to be energy based because it general it is generating a new era that can function without a barter trade or it is only a one sided trade.