It is hard to kill a movement because there is something called "a critical mass" and once a critical mass of people enters something you cannot roll back. It is also hard to kill such a strong and useful technology because there will always be someone who will accept it (take a look at Belarus example from the article) and other will have to "not fall behind", if not for anything then for political reasons. And cryptos became both - technology (for asset creation and distribution) and the movement (for decentralization and more fair wealth allocation).
i totally disagree, sorry. All altcoins are worth something due to the possibility to exchange it to BTC. once BTC crashes, those coins will be worth NOTHING. Who is going to be using mining and spending electricity on something that's worth NOTHING??
Actually not all. Some of them change to ETH and ETH can be exchanged directly for FIAT. However, yes, your reasoning is correct. I don't believe that Bitcoin can crash totally because of better regulation. Regulation is a positive thing. Banning is another thing, but not a single country has yet proposed to ban crypto trading, all news suggesting that were simply fake.
For god shake, i don't know if you have interests on any coin (i sold all my ETH at 1050$). i knew this was gonna happen. If BTC is worth almost nothing, all altcoins will be worth nothing. If BTC cannot be used in real live, nor will be those alt coins.
That was actually a smart move. I wish I did that so that I can buy a whole lot more at low prices. I am just hoping you are not using the FUD to get that little bit extra price down......
For me , cryptocurrency is dead, because goverments have done what they can only do: put regulations over them, so that they are not viable to evade taxes. This is the only truth of nowadays, and what proves why BTC and ETH have lost 50% of its value in 1 month, or why in that same period, the money invested in cryptomarket has gone from 800.000.000.000 dollars to about 280.000.000.000.000, that's like 70% down.
Face it, those that are farming, will spend more money in electricity and actual profit. And yes, they have killed cryptocurrency. At all. If you don't believe me, see the graphs of all coins and compare news from goverments to falls in price. they absolutely match.
Yes, but they had a gain of 1000% in a very short period of time too, so I don't see the market as "falling apart" just yet. The only thing that is pitty is that the expected market crash, correction, or whatever you would like to call it, came after some totally insignificant, and mainly fake news. Check this thread for the discussions on the matter:
https://bitcointalk.org/index.php?topic=2865338.msg29417479#msg29417479, you will not that crypto development has much more technical strength over the FUD, but marketing is unfortunately a different thing.
Anyway, a rise and crash of Bitcoin is normal and expected, look at its graph over time since the start. Nothing unusual there.
Thanks for your answer, but i partially disagree.
If the market and people actually believed in this project of blockchain, why would you run away from it at the first hit? Well....this is where i disagree with you. You say that there is a big technical strength in crypto. But that's not true. It was the actual marketing of crypto who said that. If you spend like me about 1 week watching the projects behind all those alt coins, you will see that none of them has a viable project, just a good idea (and used ico to get the money, btw, those coins are worth NOTHING nowadays). The real fact is that none of them have made their way through this disaster. all crashed at the same speed of BTC, and thats irrefutable.
Can you tell me what is actually backing up the project of ETH for example?? Who and what is behind that?? well.....nothing. Cryptocoins are usefull as long as you can make money with it (which is btw a type of gambling). but the real fact is that, once goverments and banks have entered the fight, with the first hit they've had enough. that 70% lost, are all the people that where in for the hype, the tax evasion, or just to gamble. once goberments have said: ban or tighter controls, all the market has collapsed.
It collapses because of the controls and regulations? or just because people don't believe in the projects they invested in because of the controls? choose one. There is no other option.
BTW, i'm not interested in buying any coin, because that's the biggest error you can make right now, since the market is already collapsing. If you buy, you are going to lose money, thats granted. but do whatever you want, it's your money. Just and advice: only use the money you can afford LOSING.
you say that losing more than 50% of its value means nothing because it won a lot before. That's actually false. Cryptocoins won money due to DE-regulations not value. Goverment and banks said nothing. once the problem was big enough for them, the old system has crashed to ashes cryptocurrency, and that will never return.
Forget about projects, cryptocurrency was not about that, that was just the lie for you to enter. cryptocurrency was all about tax evasion. Simple as that. And once evading has been made difficult, it has crashed because investors leaved the place as soon as they could. 800.000.000.000 before announcements of regulations , controls and bans. 275.000.000.000 after those announcements. it's clear as water my friend.
in the last 24 hours, the market cap of ETH has lost 14.000.000.000 dollars. what i cannot understand is why people are still farming. Are they dreaming of an epic comeback?the profit per card (considering 32Mh/s per card) is actually about 1,5 dollars per day (without considering electricity costs). so.......
205.000Gh/s are actually mining ETH. WTF!!! prices way down, difficulty way up, with Casper behind the door already knocking. the only reason i can think of is that all that people are knocked like a boxer that has received a big punch in the face. 205.000 Gh/s of convinced people that this is just a hole in the rough path. but it's not. If you cannot win free money with cryptocoins.....well, happens what it is happening right now.
