QTM says nearly all of them should be near worthless, and the coming recession should help with that. Unless someone comes up with both a price and supply stable one, but there's no profit in such a structure.
Boys, look up 1 year chart of bitcoin and tell me when the run-up started. Yup, in a couple of months, we'll be looking at ath. You're welcome
Yeah, but I bought in at 20K! With my 401K... Now to be fair, there are utility values in cryptos: 1. Silk Road: online black market 2. Venezuela: fastly devaluing currency 3. China: internal capital controls 4. Mr. Divorce: asset hidding etc. In the above cases, cryptos are nearly perfect solutions. That doesn't mean that ANY crypto should be more than 3 digits. And anyone who is using the "hey, we passed 4 ATHs, so surely this 5th one isn't the last one" argument is an idiot.
In terms of price correction, we are not seeing something we have not seen before. But, we are seeing more regulations in space, and that could potentially bring stability without the astronomical cycles.
Why don't they just make a cryptocurrency tethered to the U.S. Dollar or the Euro? Seems to me that would be the best of all worlds. Albeit the get rich quick overnight hodl'rs would not approve.
That would not be best of anything. That would be just another form of fiat currency. The answer is recorded on the genesis block of bitcoin. A more detailed explanation is the whitepaper of bitcoin. I'm not being cryptic and would expand on it if you want me to but I'm sure you know what I'm saying...
Well... you still get your anonymity and a currency without borders.... but it makes it less volatile... which is what you need at this point to garner a broader acceptance. That being said... in this particular area... I'm not afraid to admit I know nothing.