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Crypto Crash: Why the Crypto Market is Going Down -Thu Nov 15
#1
This is bad news.

"Why is the crypto market going down?
  • Bad Press: public perception of the currency is affected by headlines of crashes as well as negative statements by financial institutions questioning the validity of the currency. One example of this effect is the event in 2017 where the CEO of JP Morgan threatened to fire any worker that invests in bitcoin in his investment bank. The digital currency suffered a 6% loss in value immediately.
  • Inadequate security: for bitcoin to gain stability, merchants, and consumers need a safe spot to store funds. Sadly, security issues are affecting the trust as well as bitcoin use. Some notable events happened last year when two exchanges were robbed of their funds. Cyber thieves have also stolen lots of money from crypto exchanges.
  • Stringent government regulation: bitcoin is decentralized and has not central authority regulating it. This allows users to avoid regular payment processes. It is attractive to lots of users because it means zero inflation or the central It also attracts cyber thieves who love stealing without leaving a digital footprint. Governments have refused to adopt the currency because financial institutions and banks are concerned about its ability to promote laundering or commit crimes. Earlier this year, the finance minister of India said cryptocurrencies would not be recognized as a legal tender by the country. It will also discourage the adoption because of the widespread use in different illegal activities. Also, facebook requires crypto and bitcoin advertisers to pass through a stringent approval process. It also banned ads for initial coin offering.
  • Delay in the ruling of bitcoin ETF by SEC: experts also believe that the approval of this fund could cause BTC value to skyrocket. The application was previously rejected due to the volatility of the digital currency. The delay has affected other cryptos as well, not just BTC."

https://smartereum.com/28708/crypto-cras...hu-nov-15/
Cardano is the most promising 3 gen. crypto right now.


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#2
(2018-11-15, 01:09 PM)Carsten Wrote: This is bad news.

"Why is the crypto market going down?
  • Bad Press: public perception of the currency is affected by headlines of crashes as well as negative statements by financial institutions questioning the validity of the currency. One example of this effect is the event in 2017 where the CEO of JP Morgan threatened to fire any worker that invests in bitcoin in his investment bank. The digital currency suffered a 6% loss in value immediately.
  • Inadequate security: for bitcoin to gain stability, merchants, and consumers need a safe spot to store funds. Sadly, security issues are affecting the trust as well as bitcoin use. Some notable events happened last year when two exchanges were robbed of their funds. Cyber thieves have also stolen lots of money from crypto exchanges.
  • Stringent government regulation: bitcoin is decentralized and has not central authority regulating it. This allows users to avoid regular payment processes. It is attractive to lots of users because it means zero inflation or the central It also attracts cyber thieves who love stealing without leaving a digital footprint. Governments have refused to adopt the currency because financial institutions and banks are concerned about its ability to promote laundering or commit crimes. Earlier this year, the finance minister of India said cryptocurrencies would not be recognized as a legal tender by the country. It will also discourage the adoption because of the widespread use in different illegal activities. Also, facebook requires crypto and bitcoin advertisers to pass through a stringent approval process. It also banned ads for initial coin offering.
  • Delay in the ruling of bitcoin ETF by SEC: experts also believe that the approval of this fund could cause BTC value to skyrocket. The application was previously rejected due to the volatility of the digital currency. The delay has affected other cryptos as well, not just BTC."

https://smartereum.com/28708/crypto-cras...hu-nov-15/

I have read exactly the same this morning.
It is all about sentiment and bears will make huge profits out of this.
I wouldn't worry to much. This could be a start of bull race.
Let's see and wait.
What is this thing that builds our dreams, yet slips away from us?

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#3
Good news and bad news.

Bad Press - yes there is a lot of it but some crypto is good, or could be good. A clear out of the rubbish and poor clones would be useful. As for the CEO, as if any employee would be daft enough to say "I invest, sack me". That sort of publicity gets people talking and that is a good thing.

Inadequate security - good point here. This is the problem with BTC - it is in the hands of too few farmers who can manipulate the price. Hopefully some of the newer coins will not have this issue.

Stringent govt regs - again this can be a good news story or a bad news story depending on how you look at these things. It does not matter what an Indian Minister says today, he or she will not halt progress. Maybe slow it down a bit.


Any posts like the original one that keep crypto in the public eye, whether giving us good or bad news, gives us publicity and that helps gain / keep audiences.
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#4
It's a very good comment Bob. I agree with you 100%. We need the copycat coins to go away. Forked coins make sense when they bring something new to the table.
Cardano is the most promising 3 gen. crypto right now.


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#5
(2018-11-15, 03:16 PM)Carsten Wrote: It's a very good comment Bob. I agree with you 100%. We need the copycat coins to go away. Forked coins make sense when they bring something new to the table.

This is something I do not understand. Can you explain?
What is this thing that builds our dreams, yet slips away from us?

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#6
I can try. :-)

Stupid clone coins that works exactly like the original is just there for the creators to make money. When a coin is hard forked for a reason like creating Bitcoin Cash from Bitcoin it added new value to the clone.
Cardano is the most promising 3 gen. crypto right now.


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#7
Well, right now I think a lot of institutional are going to watch closely the market. They want to jump in, but at a low price (this is my theory). I think it is a matter of WHEN and not IF the institutional jump in the train... We are good for a major run to the moon. Last year, we got that run just after a big dip as well, so I see the next months with a very optimistic mind.
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#8
(2018-11-15, 08:51 PM)Cell Wrote: Well, right now I think a lot of institutional are going to watch closely the market. They want to jump in, but at a low price (this is my theory). I think it is a matter of WHEN and not IF the institutional jump in the train... We are good for a major run to the moon. Last year, we got that run just after a big dip as well, so I see the next months with a very optimistic mind.
It's a matter of fact that the big institutionals are very glad to see this crash. They can jump in at discounted prices.
BAKKT will launch on december 12th.
What is this thing that builds our dreams, yet slips away from us?

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#9
It is just a guessing game as to when the bottom is reached I suppose. Then hang on for the up part of this rollercoaster ride!
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#10
What is your though on MNX now as continues to drop $1.25 and no VISA cards and nothing from the company??
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