Will Bitcoin, Steem, Ethereum etc ever recover ?
I will be honest with you my outlook of such a thing happening is getting further and further away.
When you think about it there is no stopping a bank, company or another person from launching a better blockchain that meets their needs. Even XRP Ripple who is trying to get in with the banks has been plummeting. The reason? Most likely because no bank would ever give up their power to one centralized company called ripple lets be honest here.
There is also no reason a bank could not launch its own blockchain for the needs they have.
So will the markets recover and bitcoin become supreme again?
I honestly am starting to think that wont be the case unfortunately.
Please talk me out of this crazy low and let me know when you feel bitcoin will rebound and be a world currency instead of a bunch of hybrid crypto/fiat systems
For the reasons you outlined, I really do think the banks have the upper hand...
But consider the bullish fundamentals with guys like Bakkt, etc... either that was a total fake-out to get btc buyers before the crash - OR - the market is being manipulated down so banks can buy btc...
I do know buying back in at a perceived low is going to be sort of terrifying... but what other chance do I have at financial freedom at this point... :-/
Crypto's will not replace fiat in this generation at least. The system permeates everything that we do and everything that we buy. That is why STEEM is such a winner for me. It's not trying to replace fiat it's using a distribution system to spread earning between all involved parties. At the end of the day if you want to sell out it will be back into fiat. The system here offers such a good chance to monatize our activity and hopefully earn from external money that will feed into the blockchain in time but STEEM and most cryptos are closer to holding shares than anything else. We back the project and hopefully it gains value in time from being successful. Some will pay dividends and earnings if they take in revenue.
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Moved to the Hive platform.
are you trying to tell me that banks have not looked into blockchain themselves ?
Moved to the Hive platform.
centralized like still digital fiat. still they require liquidity my opinion. the scary is they might hold make like world organization making own a standard token like XRP. If people will adopt the current crypto its will bounce back but if no if people wait for government issue crypto which centralized , the current cryptocurrency will banished even the grand daddy BTC.
Bitcoin will probably still get to hundreds before halting. I want it to make all its fall quick so we can finally be expecting a rise. Right now the fall is taking so long
This may be the encouraging perspective you're looking for
Once the population sees why it is worst off to leave centralized organizations in charge of monetary policy and the loss of value of your everyday things, many will flock to cryptocurrencies to store their value and eventually use a means of exchange. There are also a number of benefits for other platform related blockchains that are creating ecosystem of DApps to also interact without having privacy or censorship being a concern. Remember when people said Amazon would never be able to compete with the likes of brick and mortar and what has happened...
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