While it could be true, still there are no other altcoin who can already surpass what Bitcoin has proven. And to think that the market for altcoins are too crowded that a single altcoin becomes too irrelevant or would be difficult to stand out unless it proves itself too and brings major improvements over existing top cryptocurrencies. These altcoins you're talking about could easily be taken down, and could also be considered a 'bubble' if manipulators decided to hype it once then dump, leaving investors with empty pockets.

This is one core problem with Bitcoin and other cryptocurrencies right from the start, it's the way it gives people ultimate financial freedom and anonimity over their purchases, which could also be beneficial, but negative at the same time, depending on who uses it.

This, combined with a diverse cultured people, could be a grounds to unrestricted trades with no such limit to what you can trade aside from people's imagination.

A good investor won't put all of his funds on a single investment, but rather spread it out among different assets. You could hold gold and Bitcoin at the same time. It would only depend on your bias on where to put the larger percentage. They are essentially almost the same, with differences on usage and the way they exist (physical vs digital), but other than that, Bitcoin already has proven to be useful and worth something, same as gold.

OP should have at least give a summary of what happened. Nevertheless, the hack does not seem to affect the prices, but could however be used by whales to induce another artificial dump on the price, further increase baseless FUD and panic-sell on investors, which would do nothing but benefit those who manipulate the market. In such case of manipulation, what we can only do is swim together with them. And even though I'm not a user under Upbit, it's nice to see conpanies taking responsibility even without regulation.

It's more of the trust to the platform. Bitcoin has been with us in almost 10 years and yet it survived fatal blows to the system. Altcoins tend to have smaller community, smaller developing team, and thus could be eliminated easier with an attack to the network.

Another thing is that altcoin market nowadays are too crowded. More options tend to be much difficult for investors rather than a fewer set of choices. It also makes the competition somewhat difficult and non-sense, since these altcoin tend to have little uniqueness to each other.

He said nothing is above Bitcoin in the context that (1) nothing governs Bitcoin, (2) other altcoins that is decentralized is still no match to what Bitcoin already achieved, (3) it could also be considered above stablecoins since such coins are manipulated/controlled, and (4) all those blockchain-powered applications are non-sense if they aren't going to be transparent. Transparency brings the power back to the people, wherein secrecy is difficult to achieve and therefore, corrupt practices are lessen and easily traced in whatever application it is applied to.

Compared to a global scale, it's not that much. In addition, ASICs are getting more energy efficient over time. Technological advancements happen as time pass by and energy consumption would lessen as these hardwares would require less energy to produce the same, if not better performance than previous chips.

Banking do use energy too, from facilities, establishments and such. It's quite comparable but the thing is cryptocurrency does not need much miscellaneous facilities.

Cost averaging is quite popular even in other assets such as stocks of a company, or even fiat exchange. It does minimize the risk of loss by spreading your buy orders and would much likely to gain especially of the company/currency you invested in has increased in price over the year.

If you're short on funds or have small amount to invest per month, then cost averaging would not be profitable in your case, since every transaction requires fees, and it would just set you back if you do this strategy on smaller amounts.

Mainly because of manipulators taking advantage of the recent news about China imposing more restrictions on cryptocurrency. It wouldn't crash that great if there were no whales manipulating and spreading FUD and FOMO in the investors. See that it would come to a reversal and soon, investors would buy in and negative pressure on the prices would immediately fade since there's no real threat to Bitcoin.

Even they could bring it into the public, it's not gonna have that significant impact on Bitcoin's price. Manipulators could however take advantage of such news but it would be only a simple short pump that would reverse immediately.

By saying hybrid you mean by having different systems for different access control preferences. Such as when data is private to small group of companies, they would make use of centralized rather than decentralized blockchain.

This is regulation that would not disrupt the crypto-space, instead make it a better ground for investors to interact with. Regulation does not always mean highly taxed operations, restricted actions, but instead regulating companies that may outright establish their company just to scam people, would be lessen. It also shows that adoption and Bitcoin itself is still in its early stages, and it would not be gone too soon contrary to those who spread FUDs.

I still don't think it is the sole reason of the recent dump in prices. I just see manipulators taking advantage of such negative news to spread FUD in the community, making investors think that it would continuously go down because of initial artificial sell-off and panic. Good thing is that we had now another support level and things go upward reversal recently, hitting nearly $7,200 after 8 hours from its lowest on approximately $6,547.

It's positive that it would undergo a reversal. People generating FUD will never be gone and they will always exist, to either bring the prices further down or just hates the idea behind Bitcoin from the beginning. Nevertheless, price dumps like these are normal part of the market and it is indeed a great time to buy, if you speculate no future dumps by manipulators.

Cryptocurrencies that are stable has potential. Other unstable like Bitcoin and other altcoins cannot be used to replace existing fiat monetary systems because of their volatility, which makes it difficult to be used as a medium of exchange, especially with smaller transaction amounts. These volatile ones still need to rely on stable currencies to be even viable of becoming a medium of trade for goods and services.

It would be much better if an exchange would contact the other exchange, so that legitimacy and credibility og your report be validated by the exchanges themselves. You could reapproach Gate.io and request them to have in contact with the other.

Other than that, it would be pretty much be difficult to recover those coins. A hacker could just transfer those funds to another wallet away from exchanges. Without regulation, nothing can really be done except to be secure in your own digital actions such as staying away from malware-infected softwares.

It's always the game of those in power, that's why he chose to live in anonymity rather than in short-term popularity that would risk his life and his creation. I have admired him of his decision and like a hero, he opened the eyes of the public that it is possible to have a monetary system away from traditional banking monopolies. Though he did a great job, he knows that these people who runs these monopolies won't be happy of what he did and thus he made his decision to not be found ever again.

I do agree with OP. Shutting down Bitcoin isn't an easy task, it has already grown and is resilient to such manipulation. One man cannot put negative pressure on the prices constantly to keep it under a thousand. Several holders are there ready to buy in because they know in themselves that Bitcoin is worth something. Total censorship by the government isn't also gonna affect Bitcoin and transactions would continue pretty much like an underground trading, since Bitcoin surpasses banking traditional regulations, privacy, and fees.

That's too high of a number to be even worried of. It just proves that Bitcoin has surpassed, and is most likely to surpass, future blows to its market. And times like these aren't even surprising. Considering the market's nature, being decentralized, governed by no one, it should come as a no surprise that significant dumps like these are possible. Then there are those people that spread FUD, telling that Bitcoin would "totally die soon", which makes no sense given the fact that all of these should be seen as "normal".

It may be definitely gone in the future but not any sooner. The technology still receives attention and is suspect to greater adoption by different institutions and organizations. But I do agree that it would become obsolete in the future, and it is indeed inevitable. If your purpose is to educate, then you have made your point. If your purpose is to create FUD, then I only think you've failed.

Assets and technologies just vary in time of their use. Some do last for centuries, while others are only lasting for years. Nothing is permanent as they say. Maybe one time, instead of people praising gold as the wealth standard, we might have a shift that the next most valuable asset to have is digital data. No matter what that is, one thing's for sure and that is the world is ever changing.

Dumps like these are quite normal, as well as inexplicable pumps that happened over the last months. If you are a day trader that got in on the $8K range, then you'll probably want to sell to further cut losses. But if you don't need the money right now, it is always advisable to hold, if you believe that Bitcoin would surely experience a reversal and a possible bull run. The technology is quite early and we still may experience improvements and therefore, surge of investors that would increase the positive pressure on the prices.