Could meltdown give more value to Cryptocurrencies?

a reply to: Jechu

Bitcoin and cryptos have never been through a Wall St. downturn/crash so there's no way to be sure.. I believe they will move in the same direction as the major commodities gold and silver but I think cryptocurrencies will fare better and come back to a bull market sooner because the crypto sector has more economic space to grow. There is a really good chance that cryptos lead the way out of the next crash/recession.

2018 was bad for speculators but will be good in the long run. The empty, worthless coins have been exposed. Development has increased despite the downturn and some nice projects will be finished later this year. The cryptocurrency sector has grown from an infant to toddler with plenty of growing pains still to come before cryptocurrency fully matures over the next decade or two.

The reality is gold and bitcoin are currently about as equally useful as money in the real world. The difference is one is the past and one is the future. Gold was phased out because bankers and the government were too restricted by gold. They needed more control of the currency to better manage the economy. Cryptocurrency is FAR more malleable than the current outdated central bank systems we have. Once the FED figures out their best crypto design paper cash and FRNs will take their place in monetary history alongside gold.

a reply to: Sheesh

There are developments (lightning network)to make bitcoin and others faster and they're working. There are other cryptos (tron?) that claim to be able to make a million transactions per second. That's several times more than Visa does, and that's only one coin. Electricity demands are relatively the same regardless of the number of transactions. Electricity consumption is a factor of competition between miners more than trading volume.

a reply to: dfnj2015

Agree 100%.
I don't think it will compete with FIAT currency, just because of what you said, they are ruthless and won't go down easy.
Crypto will go as a paralell thing.

Cheers

All I know is that cryptocurrency scares the living # out of the banks.
They used the cmoe futures market to temporarily manipulate the price but in the end decentralized cryptocurrency will prevail.
If we're not at the bottom yet it's close imo and I also think those who hold cryto will not regret doing so if they are smart about it.
I can see btc at 100k sometime next year but we also could have another year of the bear.

originally posted by: JinMI
a reply to: Jechu

I'm of the opinion that the markets are heavily manipulated at the moment.

Thus why proof of keys was so minimal to the sphere.

It's still young. This year will be a good benchmark.

Manipulated to make coins worth anything in the first place. Reality is catching up with all financial instruments after years of easy, easy money. All asset classes will be effected and the most speculative will be effected the most.

a reply to: sligtlyskeptical

Manipulated to make coins worth anything in the first place.

Billions in volume daily with $100-500 swings in BTC volatility. It's easy to see that there is tons of money to be made if you have it and that's only one the buy side, let alone shorting.

All asset classes will be effected and the most speculative will be effected the most.

If A exists, B will happen sure. I've a curious notion that crypto may experience some growth during that time. We'll see.

This is part of the meltdown...

Yellow vests planning a Bank Run in France

This is potentially exciting news for the bitcoin and cryptocurrency community as a sudden surge of fresh cash could be about to hit the markets…
Doesn't mean they will convert their money into crypto, but could give more visibility to the technology and options available.

Cheers