Actually i am loving this dump. This is the BEST case scenario. Ripple is the pin that slaughters the alts. A few alt projects will survive. ANY of them that look even a little like a security are gonna get killed.
Bitcoin basically holds. Dominance goes wild.
Edit.. Wow.. the more I look at this the more beautiful it is.
Ripple another coin not backed by mining gear. Did well right?
It connects to the security narrative. 1 to 2 dimensional thinkers can't see why POW is so damn efficient and such a GOOD use of energy, that will actually transform the entire power industry in 50 years.
My prediction? Electricity ends up basically free thanks to bitcoin.
Is there any market more powerful than energy? Pretty much no. Energy is the prime market of our society. But I did just say pretty much. Because the market of human time, and labor is actually more powerful. And Bitcoin is HIJACKING the energy network to combine it with the value of human labor which will incentivize even further efficiencies in the network. Nuclear, solar, geothermal, wind. All incentivized. Too expensive to build/maintain a windfarm that has nowhere to send it's produced energy at certain times? Bah Bitcoin solves this.
But we will have to live through 20,000 choruses of bleeding hearts saying Bitcoin is wasting energy before (like the choirs of the XRP army before them) Bitcoin, which does not give a fuik, proves them to be magnificently wrong.
God, if I was not so lazy I would be setting up some west Texas wind/solar.