Cryptocurrencies can only be considered for adoption once corporations, governments and charities deem the asset class as stable. However, speculators and traders desire anything but stability and thrive on the volatility of 10% intraday price swings —the demographic here are experienced pre-millennial traders from other asset classes, whom quite frankly are careless in regards to the future of cryptocurrencies. So, the demographic 'invested' in cryptocurrencies are the millennials whom have a pseudo-understanding of cryptography and blockchain given their affinity to technology; but with a lack of trading experience and anti-establishment views, they simply adopt a unidirectional mentality, i.e. 'hodl', in the vein that prices will perpetually rocket to the moon.
I am also not excited about millenials and their herd mentality (all those facebook/google/corporations alluring them due to the lack of critical thinking, and due to false 'positive thinking' propaganda).
But don't forget that millenials are the future. They are young, and they are going to inherit the world, whether you like it or not. And Bitcoin is their money, the one they grow with, and the one they support. Doesn't this tell you something?
Its a classic case of where the millennials know the price of everything, but the value of nothing.
Don't turn it around, in fact that expression refers more to you and the traders like yourself, whether you are millenials or not.
So who actually has any altruistic concern about the future of cryptocurrencies? Nobody. Hence, the bubble bursts. The ALT/BTC tokens are the epitome of manipulation and fraud.
What you tell above says more about yourself and the environment you are living in. I am sorry for you if you indeed don't have people around you, who have altruistic concern about the future of cryptocurrencies.... Whose people exist, I assure you, and fortunately I have them around.
Cryptocurrencies are a speculative side implementation of legitimate blockchain technology. Use of blockchain such as distributed ledgers for say the Asset Servicing areas of investment banking are genuine solutions. Once legitimate uses of blockchain are adopted as real-world applications, its then likely a second generation of cryptocurrencies may emerge as stable alternatives to fiat with greater adoption.
Quite possible that the likes of Google, Microsoft and Amazon lead the way with the next generation cryptocurrencies by acquiring the current players. In comparison to a mobile farm in rural China, cloud mining with say Microsoft's Azure decentralised platform with their vast, secure and robust datacentres is most technically feasible and trustworthy.
Yes, the blockchain tech has its own merit, and it could/will be developed aside of Bitcoin too.
But you intentionally 'forget' about one extremely important quality of Bitcoin, which no cryptocurrency is going to have - the real decentralization, at least the hope of having one. This is the first and only decentralized asset humanity ever created. I hope people will not lose their chance by killing this thing and falling back to the hands of the corporations which are going to own and abuse people. I know people like you hate decentralization, and hate the idea of freedom in general, that is the real reason you are so eagerly waiting for the complete crash of this thing. I now see you don't just play this market, you really hate the Bitcoin's concept and, unlike muf18 and some others here, you
want it to crash. Well, what I can say. You are not the only hater - there are lots of them among the ones who found their way of exploiting the existing useless and corrupt financial system based on robbery and inflated pseudo-money. We'll see who wins at the end.
