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RE: SCARY Trend in Bitcoin & Other Cryptocurrencies

in #bitcoin7 years ago (edited)

Jesus man, I still can't tell if you are being sarcastic or serious in this video or not :0)

Yes the stats that you mentioned are all very worrying. Also, for me a very worrying stat is the market cap - which has hardly moved at all in the last days - so NO new money is coming into this zone - it is just being moved around from coin to coin (mostly to Bitcoin).

Many people have been badly burned, so of course they will really need a break from Crypto.

Also, many of the YouTubers have not been affected by this at all (not like the general public) and this disconnect between the YouTubers and the public is not helping.

If you got in a the right price point, these days have not been stressful, if you didn't, they have been hell for some - particularly because it has been such a roller coaster ride.

A lot of people now have no money, never mind spare cash lying around to invest in new coins that YouTubers are recommending etc.

At the end of the day, if we see some green in the market for a week or so, this will help a lot, not only because it will restore some market confidence, but also because the media will start reporting this and generating public interest again.

Oh, by the way, of course people are only interested in the price. The tech is absolutely NOT user friendly or practical at the moment. It is confusing even for tech savvy people (does anyone really enjoy using Ether Delta or waiting hours for a Ether transfer to be confirmed), and things like Nano Ledger or Trezor are way too expensive, and hacking is always a potential risk to lose all your money.