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RE: 7/15/17 ANDY HOFFMAN - THE MOST IMPORTANT MONTH IN MONETARY HISTORY

in #andyhoffman7 years ago

Cautiously, I tend to agree. With all the press increasingly hyping an "imminent economic crash" and with the entire world's combined economies in the crosshairs this time, people sought ways of moving their assets out of harm's way. Gold & silver, although the most reliable store of value (IMO) are harder to transfer and easier to monitor by governments desperately clinging to control and tax all assets. Suddenly, all the alt-coins, especially the more "affordable" ones, became a manic-bubble. When the early "investors" saw their chance to cash out, the bubble (as it always does) deflates. This is a historic cyclical occurrence, and "free market" economics at it's core: fear vs greed. It has always been thus as far back in recorded times as tulips.

No matter what happens to bitcoin with BIP148, the technology is a genie out-of-the-bottle at this point. Cryptos will survive. The underlying question is: Will central authoritarian governments with their means of affording the fastest/smartest/latest technological tools, be able to wrest away the anonymous advantage of the cryptos from a public seeking to preserve their asset value from theft?