You made a bad investment putting your money into cryptocurrencies... I'm sure you heard or told yourself that in the last couple of days if you invest or trade cryptocurrencies.
Tokyo based prosecuters' trial against Mark Karpeles has started. Bitcoin has fallen more than 20% since its alltime high a few months ago. Gold gas lost value in the past two months by the tune of over 6%.
On the other side, central banks around the world are raising interest rates this summer making an investment in tradition assets much more interesting than before. (research it)
Where does this all lead us? Was this all just a dream and the guys that "stayed awake" are just beginning their laughs of a lifetime?
I say to any naysayers and stay-awakers to start dreaming, for we dreamers shall have the last laugh! They'll be telling us someday as they do now how bad it is and then in an instant, the believers will profit huge.
While the title of this post is about the weaknesses of cryptocurrency, my opinion is that these are manmade weaknesses and the power of the blockchain will overcome.
The big ol' players are fighting the battle. They are buying themselves time. Trying to figure out how they can stay rich and powerful when a decentralized and liberating currency comes.
Here's the thing about digital money. It will do magical wonders for the stock market, and it will put money into everyone's pockets fairly. There is no manipulating digital currency, it is too transparent. Digital currency is impossible to block, so everyone has an equal chance and no corrupt government or rich person can meddle.
The current bloodbath is from market manipulation techniques and well timed divergencies to make crypotcurrency investors and users believe it is not safe or secure, not to mention that most of the top currencies rose way too high in very little time. There must be corrections along the way, because there are two sides to value.
I have my bet on cryptos coming out the winner... it's just going to be a fight. No good things come easy.
Let me know what you think?