RE: Why I believe in cryptocurrencys
Wether it's a bubble or not really depends on wether or not the bubble will burst. If it does then it was a bubble, if it doesn't then it's not.
The deeper I delve into cryptocurrency though, the more doubts I get. After my initial excitement, similar to what you describe, I was sold on a lot of crypto. But now that I've delved even deeper, I encounter strange things that make me frown and confused.
The recent creation of Bitcoin Cash and the subsequent 10 billion USD that the entire crypto market grew by is one of the things that make me wonder. I can go so far in realizing that all crypto is speculation, but when 10 billion appears out of thin air... then I really start to wonder if this speculative market and it's market caps are at all indicative of the actual value that went into Crypto. I've seen first hand in smaller markets how they are being manipulated both upwards and downwards and if it happens in small markets, it certainly happens in the big markets too, even Bitcoin. The recent news surrounding one big 'spoofer' on Bitfinex only illustrates this point.
So be watchful and check the news every day and spread your investment over multiple crypto's.
Great advise I worry to and what your saying is true it can be manipulated and we have seen it done in the past
Exactly.. it's pure speculation and there is no regulation in crypto anything goes...
The blockhain technology may, in my view, play a big part in for example fighting corruption. By creating smart contracts, one won't need to bribe government officials, in countries where this is an issue. So I'm thinking that the technology has enormous potential, and thus the currencies associated with it.