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Crypto-crash: 5 reasons and updates on 5 coins
#1
Why are we crashing? Will it continue? 

I think this article describe the current crash okay. I don't think it's the end of crypto even the Litecoin founder sold out and Emil Oldenburg sold his Bitcoin for Bitcoin Cash. I see this as a correction after a crazy high rise in price during the last year and even weeks.

I expect this to be short because many many many people want to be on the wagon and we will during the next week see a similar rise in price again.

What do you guys think?

https://www.forexcrunch.com/crypto-crash...3-reasons/

Merry Christmas to all
Cardano is the most promising 3 gen. crypto right now.


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#2
(2017-12-22, 05:37 PM)Carsten Wrote: Why are we crashing? Will it continue? 

I think this article describe the current crash okay. I don't think it's the end of crypto even the Litecoin founder sold out and Emil Oldenburg sold his Bitcoin for Bitcoin Cash. I see this as a correction after a crazy high rise in price during the last year and even weeks.

I expect this to be short because many many many people want to be on the wagon and we will during the next week see a similar rise in price again.

What do you guys think?

https://www.forexcrunch.com/crypto-crash...3-reasons/

Merry Christmas to all

Correct. Don't do stupid things. Market will correct bit by bit.
I see no reason to panic.
Panic is the reason why markets crash.
Till now we are not making losses. We lost a part of our profits, but this will come back. Be patient.
What is this thing that builds our dreams, yet slips away from us?

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#3
Good advice as always Hugues..stay calm!
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#4
yeah, stay calm, no worries! Smile
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#5
”Stay calm!”. So said the Captain on Titanic, with a tremble in his voice.
Cryptos is the future, but unfortunately the inventor of the BitCoin did build in two flaws, and every crypto since has inherited these flaws.
1. Total anonymity.
2. No intrinsic value.
Ad 1. As long as there is no transparency in who owns which coins and no traceability in the movement, then cryptos can never be used as means of payment in a civilized society.
Ad 2. As long as the value of cryptos is linked to fiat money, then there is no intrinsic value, thus the value of the cryptos is floating and depends solely on supply and demand, which again makes it useless as means of payment in a world based on fiat money.

So why is cryptos the currency of the future?
The main problem with fiat money is that the supply of money is endless and the consequences are brutal, as we can see it in e.g. Zimbabwe who has an inflation rate of 2,200 percent! (Inflation is a mean to keep the people chained in dept, and a small number of people in absolute power as they control the flow of new bills being printed) Cryptos has a finite amount of coins, i.e. there is no inflation. However, there is another risk of “inflation” with cryptos, as prices on commodities and daily goods can change, but that is easily fixed (it has to do with the intrinsic value) as long as there is full transparency in the blockchain, i.e. who owns which coins and where did the coins get from.
After the banks was successful in persuading all nations to abandon the gold standard (The complete breakdown in 1971 under Nixon), then the banks had absolute power! The banks – and the governments - are using this power to stay in absolute power, and the blockchain technology is smashing this system, and giving back the power to the people (This is why some call cryptos the peoples money).

Back to the present question: Why are BitCoins losing value and will it continue.
BitCoins and all other cryptos will fluctuate in value (It has probably seen its highest now, and there will most likely come a period where the market will try desperately to return to the “The good times”, but there will be only one long term trend for the current cryptos: Down and out!). Regard all current cryptos as an investment, and don’t think for a minute they will replace fiat money.

How will cryptos be the money of the future? A small mind experiment: Right now the US debt is $20,000,000,000,000 and rising! There is no way this debt can be paid. The banks are making sure of that. How Can the US survive? Make a new currency called USCoins, based on a 100% transparent Blockchain and tie the value to a commodity, e.g. gold. If they do this tomorrow, then how much do you think your current coins will be worth?
Thank you for reading. Comments are very welcome, as I’m still refining my theory.
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#6
If this is your Idea, you should never incest in cryptische!
What is this thing that builds our dreams, yet slips away from us?

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#7
Allan it's a fine input. Since you are Danish you should read this from today by a Law Professor https://politiken.dk/debat/debatindlaeg/...lle-system (it's in Danish).

In short you are right by some of your points. Bitcoin will not survive and Bitcoin will never replace fiat currency. The bank system is corrupt and the debt by USA is rising and rising. They are always close to financial breakdown. Therefore the current system is looking like a Ponzi scheme. Eventually the current system is facing a collapse. Not even the banks can prevent that.

As the professor points out one of the main reason people are turning to crypto is because of the crash in 2007 caused by greed in the financial system. People NO longer trust people, but they do trust software. Software controls cars, planes, helping doctors during surgery etc. Crypto is software. It's also a statement against the current system.

Has crypto peeked? NO WAY. It has just started.
Will it ever replace fiat currency? It will. More than 3 billion people can't get a bank account, but they can get a crypto wallet and all of them have a smartphone. They are going to put pressure on shops. Fluctuations will be less since you don't need to go via fiat currency to buy your stuff. Crypto will outperform any fiat system in poor countries first, but within the next 5 years you will see more and more shops in Europe accepting Bitcoins and other cryptos. I often ask if I can pay with Bitcoin when I enter a shop. Even when I bought my new car I asked.

Crypto will save you from loses when the current financial system collapses and it will. Here is how to prepare...they forgot crypto but otherwise it's fine https://www.thebalance.com/u-s-economy-c...re-3305690
Cardano is the most promising 3 gen. crypto right now.


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#8
I got a question (and I don't know the answer): Which fiat currency is cryptos linked to?
Cryptos can be bought using fiat money and exchanged into fiat money, so it most be tied to a fiat currency.
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#9
it's not not linked to any fiat currency.

Often it's measured against USD just like oil. Could be Euro as well or any other fiat. depends on the exchange of you want to convert to fiat.
Cardano is the most promising 3 gen. crypto right now.


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#10
You buy crypto with any fiat and the other way around if you look at it this way. Wink
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