As someone who is still somewhat new to crypto I couldn't agree with you more. The recent statements made by the corrupt banking establishment made the masses jump ship because the media force fed it to those willing to believe their lies...the sheeple....herd mentality as you put it.
The announcements that certain Chinese exchanges are shutting down also added to the steep drop off but the markets still rebounded rather quickly which shows the resilience of them and somewhat breaks from the commonly accepted paradigm that any moves in China are major market factors. While they certainly have obvious effects, the shockwaves sent through the markets aren't nearly as devastating as most believe.
I really like the analogy you used as well...
It's the "mp3" of money, if you will.
Going along with the above, I feel like we're still in the 'Napster' stage and it is poised to explode in growth and acceptance
Yes, bro. The propaganda being spread around it yet another stumbling block on path of Bitcoin, but I believe cannot stop the inevitable. And that is the substantial rises we are yet to witness. Still can't believe how many people sold off their crypto portfolio in a panicked desperation. Man, how they'll regret it in years to come.
If you liked my "mp3" analogy, I "love" your Napster one, lol. An unstoppable format released to the masses that eventually led to the downfall of its outdated, previous counterpart. Sound familiar? :)
on the nose my friend, right on the nose!
Yes, definitely in the Napster stage, if that. . Napster stage there was still more overall adoption of the net than there is in crypto now, imho, . . HODL!😀👍