Bitcoin, Cryptocurrency, and the Future of Global Finance

#1,854
#1,854
reecetn said:
LMAO you do believe the crypto market is going to zero?
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I don't know. I just have never had a good feeling about them. I've always been afraid that the moment I would decide to step a toe in (just as a speculative play, not because I necessarily believe in cryptos), that I would be buying at the peak.

Again, I think block chain technology has some value (and some potential to be used for sinister purposes by governments), but I have not been able to wrap my mind around how this technology can be used as a currency...
 
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#1,855
#1,855
Rasputin_Vol said:
I don't know. I just have never had a good feeling about them. I've always been afraid that the moment I would decide to step a toe in (just as a speculative play, not because I necessarily believe in cryptos), that I would be buying at the peak.

Again, I think block chain technology has some value (and some potential to be used for sinister purposes by governments), but I have not been able to wrap my mind around how this technology can be used as a currency...
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The only thing standing in the the way is regulation and that is right around the corner.

You are correct it will be used for sinister purposes, that is why we need to stay informed and get ahead of the game while we still can.
 
#1,859
#1,859
Velo Vol said:
There's nothing to stop it short of that, is there?
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There is the next point of interest for BTC (see chart below). Having said that, Pay close attention to the market, BTC is just a diversion at this point. Going forward the real money will come from utility and BTC has none. The dominance charts are breaking out in new patterns and no one knows how that is going to end. But it will not be good for new investors of BTC.

NFA

target-zone.png
 
#1,860
#1,860
reecetn said:
There is the next point of interest for BTC (see chart below). Having said that, Pay close attention to the market, BTC is just a diversion at this point. Going forward the real money will come from utility and BTC has none. The dominance charts are breaking out in new patterns and no one knows how that is going to end. But it will not be good for new investors of BTC.

NFA

View attachment 465205
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Maybe this time it really goes to zero, but I think it's had 5 or 6 80% pullbacks in the past. It's been written off for dead a lot over the last 13 years.
 
#1,861
#1,861
MurphyVol said:
Maybe this time it really goes to zero, but I think it's had 5 or 6 80% pullbacks in the past. It's been written off for dead a lot over the last 13 years.
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BTC may or may not go to zero. But it was an absolute failure in its one shot to prove its utility in El Salvador. The days of it leading the show are numbered for sure. This fall will be the beginning of the ISO 20022 adoption, while BTC is stuck in the proof of work failure.
 
#1,862
#1,862
I've probably said this before, but what makes any of the cryptography coins worth anything? I can go to a gravel yard or beach and collect a bag full of rocks or shells and declare they are worth money after I digitize their images. That is the way I view crypto coins, they have no intrinsic value other than someone said they are worth money. People that idolize these "coins" then make their value equivalent to the USD in some ratio, which they in turn say the USD is worthless currency.
 
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#1,863
#1,863
reecetn said:
BTC may or may not go to zero. But it was an absolute failure in its one shot to prove its utility in El Salvador. The days of it leading the show are numbered for sure. This fall will be the beginning of the ISO 20022 adoption, while BTC is stuck in the proof of work failure.
Click to expand...

We'll see how the ISO adoption goes, it may be fine but I've been in finance a long time and things seem to move at a snail's pace.

Despite the fact that nobody has used the credit card imprinter since the 1980s, banks only recently stopped using the embossed raised number cards. It's a pretty backwards industry at times.
 
#1,864
#1,864
I know there is some real potential innovation going on under the hood, but until they start rolling out real world use cases for crypto, it mostly looks like speculation to me.
 
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#1,866
#1,866
utvols88 said:
They are releasing a euro stable coin soon I believe.
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The creation of stable coins by each country is the final straw. How would a stable coin be worth anything without on and off ramps? That is where ISO 20022 and Ripple come in.
 
#1,867
#1,867
MurphyVol said:
We'll see how the ISO adoption goes, it may be fine but I've been in finance a long time and things seem to move at a snail's pace.

Despite the fact that nobody has used the credit card imprinter since the 1980s, banks only recently stopped using the embossed raised number cards. It's a pretty backwards industry at times.
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ISO 20022 adoption programme | SWIFT - The global provider of secure financial messaging services Swift knows what is coming, and is getting on board before it is too late.
 
#1,868
#1,868
Vol423 said:
From what I have read, cryptocurrency is incredibly exposed to a potential "run-on-the-bank" event because the amount of actual cash underlying the system is infinitesimally small compared to the amount of cryptocurrency in existence. If true, the slightest jitter in the market could cause the whole system to implode.
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Bump.
 
#1,869
#1,869
Vol423 said:
From what I have read, cryptocurrency is incredibly exposed to a potential "run-on-the-bank" event because the amount of actual cash underlying the system is infinitesimally small compared to the amount of cryptocurrency in existence. If true, the slightest jitter in the market could cause the whole system to implode.
Click to expand...

I assume they are talking about the Tether scam. The Tether controversy, explained

That was done to inflate the price of BTC, and they got away with it because no one was regulating. Regulations are in high gear and when the day of reckoning comes there will be a lot of bad things will happen and the survivors will rocket into orbit because with a regulated market comes institutional investment.
 
#1,871
#1,871
My conspiracy theory for the day:
The govt. conducted a covert op on crypto currency. They let it blow up so the investors would look good on paper and spend lavishly….. now they crush it…. And all the pawns lost a big ass pile of money….. the dollar is king
 
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#1,872
#1,872
Carl Pickens said:
My conspiracy theory for the day:

The govt. conducted a covert op on crypto currency. They let it blow up so the investors would look good on paper and spend lavishly….. now they crush it…. And all the pawns lost a big ass pile of money….. the dollar is king
Click to expand...

So they conspired to "let it" blow up and what do you mean they "crush it". Do you mean that they had something to do with the Terra-Luna attack?

The dollar was already king because it's still what our economy runs off, and crashing the crypto world does nothing to prevent a future where digital money becomes king. All crashing crypto does is lose some people some wealth right now.
 
#1,873
#1,873
Carl Pickens said:
My conspiracy theory for the day:
The govt. conducted a covert op on crypto currency. They let it blow up so the investors would look good on paper and spend lavishly….. now they crush it…. And all the pawns lost a big ass pile of money….. the dollar is king
Click to expand...

You are giving the government way to much credit.

The market has not yet hit bottom.

You only lose if you freak out and sell thinking it is going to zero.

These 90% drops are great opportunities to make a ton of cash now because when regulations come and institutions get in the middle it will be too late.
 
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