By CCN.com: This week in crypto saw several interesting developments as regard exchanges, exit scams, and at least one failed ICO-funded company in the form of Giga Watt. Crypto Media Clings to Story of Russian Government Buying Bitcoin, CCN Asks for Proof CCN started the week off by debunking a mythical impending “$ 10 billion Bitcoin
I noticed the community insinuating that it will go down with the stock market because people will be trying to pull their money out of markets and look for safe havens in government issued assets and currencies, like the dollar, treasuries and bonds.
This is flawed logic and counter to the exact solution and correct response that Satoshi originated in the last crisis.
Bitcoin is a store of non inflationary, non government, digital money and value, that works better than gold, and is extremely powerful because of it's essence. It is a borderless, censorless, immutable, incorruptible, non inflatable measure we can use to evaluate assets distinct from third party interference. It is a power of accurate and true monetary assessment anyone can use. And with community involvement, and cryptographic developments, will become the central means of merchant and consumer exchange.
Stocks, treasuries and all assets were and have been inflated by governments, grossly and incessantly, since the last crisis to stave off the natural discovery of true underlying value within assets. We are now approaching the pinnacle of inflated valuations and indebtedness because of the governments bandaid response to the last crisis. They are simply out of tools now and there is a new measure of value that is immutable, namely, Bitcoin.
Bitcoin is the answer.
Bitcoin will be realized this time.
I’m mostly a lurker and spectator.
Seems like all of a sudden I’m hearing people say that Bitcoin is done but it’s still worth about 3x more than a year or so ago… for the longest time people were satisfied with under $ 2k but now that its correcting people are losing their minds?
Is this mostly people that started to invest late and are just not satisfied that it isn’t continuing to grow at unreal rates?
Mining is still lucrative at this price in my opinion.