re: Bitcoin is sinking like a rock

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Didn't you get the message? We're all in ETH now.

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Didn’t that drop 30%?

Sold most of my etherium for a profit and threw it into bitcoin at 8,200....now we wait....or cry....we shall see

A couple weeks ago I came across a Reddit poster asking how to take his money out of an investment fund and put it into cryptocurrency. Other users truthfully joked that he was asking for advice on how to commit tax fraud; however, the user seemed to think that this was the equivalent to something rolling over a 401k to an IRA or something similar. Since I'm sure he's not alone in this thinking, but it's kind of alarming when people are making more active investments (as opposed to something from Vanguard, Fidelity, or company retirements, etc.) with a large portion (or the entirety) of their available funds in something without any regard for what that something is or what type of investment they are making and its purpose.

Earlier this week I caught the brief part of a radio segment about physician offices who are now accepting Bitcoin as a payment; however, people really aren’t using it.

So while I see the value of these cryptocurrencies and the technology, the above examples makes me wonder: what value do these cryptocurrencies and their technologies have if people are reluctant to use them as a currency and for that technology?

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Gold-backed

Even gold is only worth what everyone says it is

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gold has an inestimable number of practical uses. a piece of paper does not

Nobody should ever put in any money that they can’t afford to lose. That said, it’s all going to rebound nicely in the coming months.

Here’s my problem with Bitcoin and it’s been my issue with it since the Wiki/Russian pissing matches. Bitcoin only works as a currency as long as volatility is low, nobody wants to sell $100 worth of a product for a currency that could be worth $50 or $150 the day (companies are going to want to be able to carry a balance without worrying about constant fluctuations). Once “Investors” move in and prices start fluctuating like crazy it becomes less and less of a currency and more of an investment vehicle. At the end of the day these investors are the only ones interested in what is now an investment vehicle that happens to be an algorithm with no intrinsic value thanks to the volatility caused by their investing.

Certain altcoins and ETH are going to come out on top after this is all said and done. The era of BTC is coming to a close.

No way VEN overtakes ETH but I'd love to be wrong.

There would have to be a direct fiat<->VET exchange for this to even be a possibility.

I get a kick at the people that downvote the truth.

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I can't speak for everyone, but for the reasons you mentioned I focus on projects with a b2b focus (supply chain). Particularly those that don't make banks feel threatened.

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That is why I’m very bullish on VEN.