Nothing goes up forever ...

in #bitcoin7 years ago

I am kind of bearish about Bitcoin and other cryptocurrencies right now.
You can see several countries governments and regulators becoming increasingly hostile with non-regulated exchanges and digital money markets.
I think they are trying very hard to burst the bubble and make the public lose a lot of money so they can return to the old fashioned commission brokerages and gamble in the stock market or futures exchanges where bitcoin is traded as a commodity where they always seek for new liquidity.
They also are trying to make it more difficult to convert bitcoin in fiat money and vice versa because banks are getting scared of being fined by regulators for dealing with unregulated markets and debit card issuers are denying service to bitcoin payment providers which makes it very difficult to withdraw your bitcoin balance in fiat money in an atm or by bank tranfer.
They will use the anti money laundering, anti organized crime, anti terrorism financing and anti tax evasion laws to crack down on the whole bitcoin ecosystem.
If that scenario plays out it could be like the dotcom bubble where the blockchain technology will remain and will be widely used in the future but many of the well known players won't survive these could be coins, wallets, exchanges ...

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