Post
Topic
Board Economics
Re: Governments and banks are using you
by
hardforkcoin
on 02/09/2017, 01:08:17 UTC

Everyone that is currently "investing" in BTC and other cryptos are the "crash test dummies" of the future.

Most major banks and many large/wealthy governments are coming up with their own cryptocurrencies.

Why have these entities not released them yet?  Because they are watching, waiting, and learning from all of the mistakes that other cryptos are making.

High fees.

Slow transactions.

Volatility.

Insecurity of wallets and exchanges.

Public distrust.

Reactions to media attention.

Criminality/money laundering.

Backed by fiat currency.

Lack of patent.

And on and on.

I've been reading this forum for days and I don't see this big picture addressed except in rare cases.  Almost everyone making predictions truly believes that BTC will be around for 50-100 years let alone 2-3.  Every day that goes by is just one more day that forces and entities with far bigger market caps than $100 billion are learning from all of the mistakes and problems plaguing the existing paradigm.

If one is to make a wise investment, they need to be aware of how quickly these markets can change...and literally overnight.  I don't expect much from the fanatics other than irrational reasons why my train of thought is flawed, but I do hope I see some of those individuals that are usually silent come out of the woodwork to offer solutions.  In other words, BTC can only survive if its community takes a mostly pragmatic point of view.  Otherwise it is doomed to be raped and discarded in a way that will leave most reliving their failure to act like that will leave permanent emotional scars like that of PTSD.

There are many altcoins that aren't considered crash test dummies.

Obviously ETH has the ability to launch all of these different tokens and start new businesses. That is pretty amazing to me. ETH is more like a stock offering and a way for new innovation to raise capital.

Bitcoin is more of the store of value, cash, peer to peer transaction we want to use for everything else.