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Originally Posted by Regulus
I do see what you mean. And I agree that gold isn't necessarily a good bet. At least in the short run. It depends on what the central banks will do. Not to mention, what will The Bank for International Settlements (BIS) do?
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The banks *HATE* crypto and with good reason, it makes them eventually obsolete and loosens their monopolistic control - And they are going to fight tooth and nail to try an derail Crypto. They're starting by focusing on the blockchain and how they can use it under a closed system and thus appease the new tech, but it's limited and short sighted. I've also heard that Child Porn links have been found in the Bitcoin chain, thus making it highly illegal on a technicality....Sneaky!
However Crypto now that Pandora's box has been opened can't / won't easily go back into oblivion in the same way that the early days of the internet wouldn't when there was a lot of FUD there. Even if one country attempts to ban it, they have to shut down the whole net pretty much to do it!
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As for crypto currencies. The past months really hammered it home, that bitcoin is the foundation. The others dropped as well when bitcoin took a dive. Which I find curious.
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I can certainly see where you are coming from here and it does appear to be that way. However the whole market has been effected by various FUD about legislation and various other things.
Bitcoin however has been the main media focus as it's a Name and people have heard of Bitcoin, even if they've not played with any cryptos. It's a bit like google or hoover and synonymous with the whole shebang.
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edit: This market behaves, like I would expect the STOCK market to behave
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To be fair Crypto isn't *JUST* an investment, it happens to act similar to one in virtual losses and gains, but the underlying concept is *MUCH* bigger and we are currently in the era of an emerging new tech market. Bitcoin may be the Alta Vista, Ask Jeeves or Google of that or the Live Journal, Myspace or Facebook....Only time will tell, which of the Cryptos will succeed in a few years time.....Some of them will for sure, but it'll be a rollercoaster for a few years yet!