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Title: Bitcon has now been debunked. Post by: shoeshineBro on December 24, 2017, 02:06:09 PM A] Price action has been about speculation. (Buy it, because it only goes up)
B] It is a currency that will replace other currencies. A is now negated since it has dropped almost 40% from its high. So, mania "free money, going to infinity" credibility is now tarnished. For the first time, there is real risk. (Anyone buying last week just lost 40% this week) So, the flood of new money will now be checked. You'll think twice before tapping a HELOC for Bitcon. B is negated since Bitcon is literally unusable as a currency: 10 hours settlement time and $50 transaction fee. No one is using Bitcon to buy anything, especially the early adopters. So, it is not a currency. Nothing goes straight up or down in a straight line, so I expect Bitcon to bounce up from this sharp selloff (dead cat bounce?) Title: Re: Bitcon has now been debunked. Post by: MiningSensei on December 24, 2017, 02:08:55 PM And who told you that? Probably you heard those words coming from the mouth of a grandmother and you are believing on them. Came on, dont be so fool.
If it will replace dollar, it wont be Bitcoin, it would be another crypto created from them.- A] Price action has been about speculation. (Buy it, because it only goes up) B] It is a currency that will replace other currencies. That is not something new, we have seen drops for more than 30 - 35 percent from the all time high, and it is always recovering, in fact, the price is still very expensive at the moment $13,9k. A is now negated since it has dropped almost 40% from its high. So, mania "free money, going to infinity" credibility is now tarnished. If you think that the price will always be stable or high, then i suggest you to sell all your btcs (if you have) |