Watch the Bitcoin Bubble Burst

Tadhg Gaelach

Donator
Premium Account
PI Member
Joined
Jan 14, 2016
Threads
1,239
Messages
31,690
Likes
30,410
Crypto currencies are here to stay I feel. With the increasing use of digital payments and the turn away from actual cash, people are rightly going to be suspicious of governmental attempts to track peoples resources and attempt to tax them, so while Bit Coin or Etherium might wax and wane the concept will remain and possibly strengthen because between corporations and neo liberal regimes, people are rightly suspicious.

Yes, I agree that the use of some form of digital tokens is here to stay. I don't see much future for Bitcoin though. It really has very little going for it. Ethereum is a bit better, but has already been surpassed. The real future seems to be in the blockchain technology itself - particularly private networks inside banks and corporations.
 
OP
OP
Dan Óg

Dan Óg

Ui Máine
Staff member
Moderator
Donator
PI Member
Joined
Oct 31, 2015
Threads
80
Messages
12,452
Likes
6,500
Crypto currencies are here to stay I feel. With the increasing use of digital payments and the turn away from actual cash, people are rightly going to be suspicious of governmental attempts to track peoples resources and attempt to tax them, so while Bit Coin or Etherium might wax and wane the concept will remain and possibly strengthen because between corporations and neo liberal regimes, people are rightly suspicious.
This is a nice post because it shows how Bitcoin etc has displaced the traditional role played by gold and silver. I however believe that this might at this exact moment be about to change as the glaring problrm, to me anyway, is the fact that new cryptos can be introduced at will. So granted, the supply of Bitcoin is limited but not the appearance of citcoin, ditcoin, eitcoin, fit coin or anycoin.
 
OP
OP
Dan Óg

Dan Óg

Ui Máine
Staff member
Moderator
Donator
PI Member
Joined
Oct 31, 2015
Threads
80
Messages
12,452
Likes
6,500
Bitcoin is 6200 or about 70% from the high. Much better than Ripple which is of 90%.
No doubt many have been margined out. Should the stock market and bond market fall from here there will be more people scrambling to get money to meet margin calls. The key is the bond, here at 2.99%
 
OP
OP
Dan Óg

Dan Óg

Ui Máine
Staff member
Moderator
Donator
PI Member
Joined
Oct 31, 2015
Threads
80
Messages
12,452
Likes
6,500
Indeed. Someone needed cash to cover a margin callsomeplace. There are a lot of people getting them. The last 30 minutes of stock trading will see an attempt to rally to even and hopefully it will fail
 
Top Bottom