Bitcoin, Cryptocurrency, and the Future of Global Finance

Rasputin_Vol

"Oceania had always been at war with Eurasia.”
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LMAO you do believe the crypto market is going to zero?
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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reecetn

Call for estimates on Safe Space Demolitions
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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...

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.
 

reecetn

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There's nothing to stop it short of that, is there?
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
 

MurphyVol

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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

View attachment 465205
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.
 

reecetn

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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.
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.
 

VolStrom

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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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MurphyVol

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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.
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.
 

reecetn

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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.
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.
 

Vol423

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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.
Bump.
 

reecetn

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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.
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.
 

Carl Pickens

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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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n_huffhines

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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
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.
 

reecetn

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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
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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