Quote:
Originally Posted by Tony_SS
Yes it did, big time! Amazingly Mike Adams, predicted it the day before it happened. And oddly someone called "Bitcoinbillionare" on Reddit was giving away over $13k in Bitcoins over the day. Mike is calling this a central bank stress test to determine how much it would take to crash the bitcoin market. And thus did just that and they achieved their goal: extreme price volatility has hurt bitcoin credibility. One does not just attempt to compete with the dollar and euro, and get away with it. |
Well the REAL difference in actual currencies is that they're backed by countries that make things - or produce things - and have tax payers (so actual revenue) etc. Of course we all know that the "full faith and credit" of some of these countries is complete BS.... and that only works IF they have enough cash flow to pay their gianormous debt load... But what I'm saying is there is a monumental difference between a national currency and a digital "game"/"trading scheme" for lack of a better definition which solely relies on the greater fool theory (i.e., someone else will pay more than you did).
I'm not saying that Bitcoin can't or won't catch on and become an actual currency that can be used for everyday functions... I'm not a guy that believes in ANYONES predictions. That's just guessing or wishful thinking. But you never know!
Personally - I think Bitcoin would catch on and would more likely become a currency if there were more of them and they were worth LESS.... and were used to buy things and pay bills --- rather than just (for the most part) being traded amongst the "faithful few".