/biz/ - Business & Finance

>>8683733

what blows my noggin how these scam currencies were allowed to prosper to begin with ...

blockchain by big corps leading up to national/bank shitcoin - likely sometime down the road once adoption is great enough

just look at ripple lol ... people don't care - get rich quick

these out of the wild crypto shits don't have a future and once we hit phase 1 again (sub 1300$) this shit is at the point of no return

scams have been going on for long enough ... not sure - but their still as small for them not to go full apeshit on it

1/2
The vapor wave fundamentals and obvious points of failure (governmental intervention) kept me from investing in crypto currencies for a long time ... had btc below 400$ only small transactions.
Been tracking it somewhat close since 200$. Blew my mind how the price spiked from 3k (while many where looking to get/cash out as it got too fast to 3k) to an al whooping 19.5k something ...
while all the same i knew its rigged, adoption hasn't changed, distribution makes no sense (40% of btc in the hands of what? 1% people or less?), insane price manipulation.

One aspect i underestimated was how many were actually buying and who might've been around to keep the price afloat around a certain are ... doesn't matter, by the looks of it:
- interest is waning (google searches/stats), people have been ripped off big time (not chump change as in the previous "btc deaths"), and even average Joe is catching up to it
- blockchain tech is being adopted slowly (google, ibm ... other big dogs to follow and ultimately kill current ones for good in one way or another)
- regulation ... the fact that the G20 didn't even bother and let it breathe till June/July; they're interested in blockchain tech but not related crypto currencies yet
- censorship > google, twitter ... more to follow likely; same for regulation ... taxes if "done or caught" are already a massive burden
- the real adoption will be once google and the likes release their blockchain platforms and they slowly gain adoption ...
- most likely nation states opt in Orwellian blockchain powered tech to keep the interconnected/global plebeian in check > "best tech ... worst use"

... crypto is trying to fuck with established monetary systems ... what could possibly go wrong?

this little project is already dead - state issued blockchain tech and maybe down the road shitcoin will become a thing ...

nibba is about to be fanged

isn't it obvious? it was on its way down guaranteed ... the roughly ~ 1500 BTC that spiked the price were either exchange bots or other insiders knowing its lucrative to collect those shorts

personally i'm too dumb to fully understand longs/shorts

^ isn't the probability of being snitched out by the exchange itself or them being "compromised" through the roof?