Re: High volatility and sudden crashes will kill bitcoin, unless...
naah, completely wrong.
We're just along for the ride with IMHO relatively small percentage (people that bought bitcoin in 2010 don't exist, they don't anymore, newspaper bullshit, they sold ages ago), where will all the bad guys, from terrorist, arms dealers, drug dealers,.... and I don't know what bad sort of people, and people hiding their assets from the government keep their money if not in bitcoin and altcoins?
All we, the spectators/speculators, can do is provoke a small panic attack that results in about 20% drop for about 2 weeks, they don't panic, they don't care, they have most of the coins.
We're just along for the ride with IMHO relatively small percentage (people that bought bitcoin in 2010 don't exist, they don't anymore, newspaper bullshit, they sold ages ago), where will all the bad guys, from terrorist, arms dealers, drug dealers,.... and I don't know what bad sort of people, and people hiding their assets from the government keep their money if not in bitcoin and altcoins?
All we, the spectators/speculators, can do is provoke a small panic attack that results in about 20% drop for about 2 weeks, they don't panic, they don't care, they have most of the coins.
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_JMJaWdYQXdtb1RVZVE
Greets,
http://estaciontrend.blogspot.com/
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_JMJaWdYQXdtb1RVZVE
Greets,
http://estaciontrend.blogspot.com/