Why Bitcoin should be the most affected by a Trading-Stop worldwide and not currencies like Steem
We see that Bitcoin is dropping much less because of the planned Trading-Stop in South Korea than other AltCoins like Steem.
Bitcoin has no other function than being a global ledger which can be used basically only for payment purposes. If there was no exchange anywhere in the world to allow it to be changed to fiat, there would be no reason to hold it.
Generally this payment function has been quite affected anyhow, as high commissions and slow transaction really render it unusable. Still people buy it though because of the strong brand and great liquidity.
Currencies like Steem could survive such a global trading-stop, if the social media outlets where it is been run, like Steemit would increase in popularity and having influence in that community would be something quite valued.
I think the majority of Alts have some other usage than just being money. Ethereum can be used for smart contracts and so on, allowing for systems like Veritaseum to run, which represents an independent value as well.
China
The last time trading was forbidden was in China. Did it have much of an impact? I suggest not, it reached All-time-highs after that... I guess that this time it will be the same. This article is about a global trading-stop with no country left to allow it. It does not seem though that Japan will back-flip. But if every country wanted it to stop, Japan could be under a siege. With sanctions and everything.
Mining-Stop
A short comment about the mining-stop in China.... it is ridiculous to have PoS coins drop stronger than PoW coins because of it. Even PoW-coins should not be affected, only the miners in China negatively and the miners outside positively...
Disclaimer: Everything here is no investment advice and just my opinion.
I wonder how long it will be before we here of the first countries sanctioned fr either allowing trading or mining of crypto. I am surprised that the powers that be are not hammering the North Korea is using bitcoin narrative yet
Bitcoin is unstoppable, it is the decentralized engine, though transactions are public. But untraceable currencies such as Monero are poised to capture a decent part of the market share. Stay thirsty my friends.
This has been in the news for about a month and we have the ICO have record run. so buy the dips again .
I believe mining to be a thing of the past 5-10 years from now, except for a few applications where it's especially designed for it. Besides, crypto's are just one of many utilities the Blockchain provides, something we will soon come to realize...
Great post.Thanks for share.
You are absolutely right, many coins have their potentials that are not used to the full and that Bitcoin, by his volotility, bypasses many coins, gives him the advantages in the market. Of course, China is promoting its line, but that will show the time. We need to promote the Steem and we can achieve a lot by common efforts! Thank you @mexbit
Bitcoin is relentless, it is the decentralized motor, however exchanges are open. Be that as it may, untraceable monetary standards, for example, Monero are ready to catch a good piece of the piece of the overall industry.
Bitcoin is tireless, it is the decentralized engine, however trades are open. In any case, untraceable money related models, for instance, Monero are prepared to get a decent bit of the bit of the general business.
a friend of mine just told me about this recently. it makes sense now!!!
Thank you !!!
Resteemed and upvoted
@mexbit
nice post dear
Upvote & resteem buddy.