|
December 24, 2013, 10:24:34 PM |
|
I hate to say it, but the bitcoin market is getting uglier every day. The rises and falls make less and less sense and the news that change the price direction, are more and more full of hot air, meaning solely created for market manipulation. It feels like the market is owned by 20 people tops, who communicate with eachother with goals to scam as much avarage people out of their money as possible. It feels like most of the market has been hijacked by a group of "grey area" wallstreet players that can steer the market to every direction their greedy little minds like to. I think that the people who are making "predictions based on calculations" about the future price are just creating illusions to justify their gambling habits. The only people who know the future are the few who actually have power to create the future as they see fit. The more bitcoin gains strenght, the more the market is getting uglier. In the past, bitcoin used to attract tech-wise people who were interested in monetary alternatives, but now, most of the people come because they only want to buy low and sell high. I still think that bitcoin is a great piece of technology when considering the security and decentralization it offers. But I think that cryptos have a looong way to go, before a coin with a decent market platform is created with a decent system to handle the new coin supply. I think that with the current direction, bitcoin will have only about 2 years to live. The market will get uglier and uglier until all of the trust is lost in the market. Bitcoin security hasn't been breached and that trust still remains, but the community has ignored the threats that come with the unregulated market. For instance, bitcoin.org is still promoting MtGox as their first choice of exchange for heaven's sake.. The exchange service that is highly incompetent or deliberately manipulating the market for their personal gain and the dev is still promoting them?!
I think that people who are interested in cryptos and have larger visions then just buying low and selling high, should really start thinking about the direction where the unregulated markets are taking bitcoin. Otherwise bitcoin will be the little coin that had potential to be great but greed and stupidity ruined it all.
|