Based on what I wrote below...little did I anticipate the continued roller coaster we have been on this past week...once again today with China regulation rumors swirling...the crypto market is gyrating....I also read an article that suggests that China and Russia are looking to create their own oil trading exchange...using their own currencies...convertible to gold as a way to eliminate the US dollar as the petro dollar currency....in that article their was also a hint of using block chain technology and creating its own coin to tie into all this...
Wouldn't surprise me if this informaiton isn't what's fueling China's rumored crackdown on exchanges...
Which leads me to this question...if all these countries look to take control of crypto...perhaps by even creating their own currency...does that possibly make the coins we trade potentially worthless?
Just asking...no one knows the future of any of this but I'm sure people are out there who see the future in this stuff a lot clearer than I can...
PREVIOUS ARTICLE BELOW
We all knew it was coming...the SEC has hinted about its concerns over the non regulated nature of crypto investing...little did we know China would be the first to drop the bomb...all ICO's on hold....suggestions of illegalities...ouch.
Its not the first time a Chinese action has caused a sesmic tremor in the crypto world...won't be the last...those of us who have lived by the dragon...die by the dragon...so where are we now?
Its time to weed out the wheat from the chafe...no longer will a coin make us a bunch of money just because of a cool name...well written white paper or frankly...just to be on an exchange and hyped to the moon...instead...a coin has to have a legitimate long term purpose...new issues will be regulated and made to meet certain standards before people invest...
So its show time people...only the strong coins will survive...
I suppose thats a good thing...just starting to feel too much like a teenage party with the parents at home.....sure its safer but a lot less fun...
I also think it's a good thing and I agree that it's the strong coins that have to survive. In the end... it's better to have fewer coins to choose from than millions who are diluting the market.
This recent crash definitely suggests that.
I agree with you on that...
The Blockchain is a great technology and for the time being we can expect that emergent nature of the community will overcome all the bans, governments and restrictions and to continuously change technology on its way.
Having said this it's very difficult to bet on the right crypto, which one will be the one that will solve the specific issue of the moment?
My suggestion would be to:
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Thanks for feedback...
Steem is back to normal. 27% rise today. Thanks for contributing original content. I followed you.
Appreciate it.
Deleted.
On my list...
This comment has received a 0.52 % upvote from @drotto thanks to: @littleboy.
Good post
Thank you.
Great post!!! I think like any emerging technology, you have early adopters and those that want to try to control. I believe China is one of those who are trying to control. That being, said, several major banks will be implementing their own cryptocurrencies.
Thanks for input.
good post, thx for sharing!
Thank you.
I really don't understand why all those companies want to make their own coin. If it is based on Ethereum, why not get some money with croudfounding and adopt ETH on their model.
That would make ETH stronger and with that their idea.
Make the good coins strong and don't make new shitcoins.
Am I alone with this thinking?
Who will give you ETH without receiving anything in return. They just gives their coins to make investors believe it's a good investment. In fact, it's useless and they're shitcoins
Good question...probably control...its also what confuses me about all this technology...who really needs what coin.
at least a couple of reasons I can think of:
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STOPthis is too good to be real... and trust me guys this is good have claimed lots of coins .... https://steemit.com/clamcoins/@yepbit/get-0-00001000-clams-every-minute-is-this-for-real-oh-and-0-00010000-every-hour
Good thoughts! I think Initially the govt didn't care, now they are taking notice, soon they will consider it a threat only if there are enough people like us the govt will be forced to accept.
Thanks...it will be interesting to see how evolves...
This coin is going viral
What coin?
China is pulling big moves right now on cryptocurrencys
Creating great uncertainty in market...hard to hold on!
It is...really dragging prices down.
Red like the chinese flag across the board
www.worldcoinindex.com/trending/overview
Hard to know how to play this...I'm just holding on for now...
Wait it out it will skyrocket
Hope so.
Cryptocurrencies are a punch in the face to all central banks, along with it's governments. However, I don't think they have a solution for this at the moment, it seems they weren't ready for such a strong and fast development in the cryptocurrency world. Now they are forced to come up with solutions fast before everything goes out of (their) control. We should see many earthquakes in the crypto world as governments try to tackle this issue, it's not impossible that only a few of cryptos will be able to survive this turmoil, but also, it's also possible that almost every cryptocurrency survives and find it's place in the new financial world that will materialize in the upcoming years.
Best thing to do now is not to go "all-in" into cryptos. Why? Because of now, we are not yet able to determine it's fair price, it's all based on expectation and future appication along with the thin and unefficient market.
However, investing wisely and holding for a longer period of time has been proved as a winning strategy when it comes to new technologies and it's a good chance that the same will happen with cryptocurrencies.
Great points...I'm just not clear in my head right now what "wise" investment means right now...am seeing my portfolio get crushed but hate to sell off on fear...holding for now...
Well, wise investment means: you didn't put all of your funds into one asset, you didn't sacrifice anything from your everyday life to make one, and you're following up on bigger names, like, did you know that google invested in ripple company? Follow big guys' lead, do research, you have to be certain about your reasons why you invested in that specific asset, otherwise, you'll torture yourself every time it's price goes down wondering, have I made the right call on this one? Putting your money into something isn't something difficult, anyone can do that, it's what comes before that, and after, that's really hard ;)
I hear that...I believe I am conservative in my crypto choices...have a general belief system...just concerned I walk away with nothing if suddenly governments decide to find ways to impede or shut it down...
Cute...not sure what it means?
You got lot of interesting points. Thank you for sharing.
Thank you...wish I had answers! But thats what makes speculative investing worth it at times...
Very nice
Thank you.
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Thank you.
Nice one there, very enlightening. I have had to attend seminars on certain bitcoin seminars. After those seminars, I discovered that I am still in love with my steemit. In fact it helped me to be more serious now on steemit than ever. Steemians should keep the flag flying.
Hope so...
Nice Post, yes you are right that s the good place for invest.. :-)
Thanks For Sharing..:-)
I am new on steemit, Keep it Up !
( Best Of Luck )
Thank you.
I think every time a Country clamps down on Bitcoin/crypto, it shows the very need for their to be decentralized currency and ideas/businesses. I agree that with every pullback, crypto traders will get smarter about where they put their money. Great post!
Thanks.
Thanks
i bet 10000 bitcoins that cryptocurrencies will lead the new economy
Do you have that many?
Hi Bob,
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Will do thank you.
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