Bitcoin Cash went to $9K on Coinbase, then they shut down trading. They reopened it, and suddenly a massive sell wall hit and sent it back to $3K. Typical Coinbase behavior. I hope some people get fired from this. I didn't buy BCH, but I do buy other ones and have found Coinbase to be extremely ghetto, but sadly less ghetto than the competition.
Oh well. A reason to buy: This stuff will soar in value if it some day becomes easy for the average person to trade instead of it only being on these sketchy exchanges.
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The US dollar objectively has little risk and less inflation than the interest rate. Meanwhile, cryptocurrencies are young and are experiencing "growing pains"... like major banks/exchanges suddenly getting hacked and losing billions of dollars of customers' money, lol. I'm all for cryptocurrency but wouldn't call the USD trash.
I believe the current exchange for USD has 2% buying power compared to 1913, which is the year the biggest scam in US history was established **ahem** I mean the ‘federal reserve’. Coinbase is whacked. Whenever there’s a huge rise in BTC, LTC, ETH, and presumably now BCH, it conveniently crashes. Other exchanges do it too, not as much though. Inside job I tell you! Eh, I’m not that personally concerned though. I have all the cryptos want for now, 2018 will be a very good year that will make the growth in 2017 look like a walk in a park. Don’t buy into the FUD (Fear, Uncertainty, and Doubt) by the “expert” mouthpieces on the news who’ve said bitcoin is a bubble since it was $100!
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really good video. People dont understand government and banks and think that what we are all born into is right and new forms of currency are fraud. Meanwhile the current way the government and banks handle currency is fraud. But because we dont know better we just turn our backs on it because we have no other choice.
Mike Maloney, who made this video, also has a great book aptly called “Gold and Silver”....it’s an excellent read. This video is part of an 8 part series, and I’d highly recommend watching all of them. It’s very informative of the history of money, and part 8 was released a couple days ago which is all about cryptos. However, I think he’s read some wrong information as what he says about the current situation of cryptos is false, and the new technology he talks about isn’t a viable replacement. He only mentions bitcoin isn’t viable, as he said “if bitcoin were to replace the world’s monetary system, it would consume more power than the earth currently produces” which is ********. Plus, he makes zero mention of bitcoin cash, dash, Neo, EOS, litecoin, or any other blockchain. I think bitcoin’s days could be numbered, it’s getting slower, the transaction fees are getting horrendous, etc. Its paved the way, but now it’s time for the new kids on the block to propel us into the future with far faster and cheaper transactions (namely EOS). EOS is promising a blockchain middle next year I believe said will do 1,000 transactions per second, which would put them in the league of PayPal. For reference, bitcoin can do about 5 transactions per second.
