And this is why crytocurrency is not a viable alternative to real currency. All value of cryptocurrency is based on speculation and not tied to any real performance indicators.
As a result, it has the volatility of a penny stock without the backing of it's financial reports. This is the last thing currency should have. Stability is the most important thing for a currency to have to accepted by people, business and governments. When the value of a currency can drop 60+% over the course of 1.5 months(and this is all of them), it is not a currency. It is a pump and dump stock where people manipulating the market(big players) have all the power. The government knows this and this is why there are talks about the need for regulation.
Most of the people propping it up in this thread, even now, likely have money tied in it. Hence the don't sell and continue to buy so my so called investment doesn't sink.
Technical papers about blockchains are all meaningless in the face of the fact that a currency with zero stability is pretty much useless as a currency. Being backed by a powerful centralized government /central bank which ensure deposits, monitors supply and does what it can to stabilize the value is a good thing.
As a result, it has the volatility of a penny stock without the backing of it's financial reports. This is the last thing currency should have. Stability is the most important thing for a currency to have to accepted by people, business and governments. When the value of a currency can drop 60+% over the course of 1.5 months(and this is all of them), it is not a currency. It is a pump and dump stock where people manipulating the market(big players) have all the power. The government knows this and this is why there are talks about the need for regulation.
Most of the people propping it up in this thread, even now, likely have money tied in it. Hence the don't sell and continue to buy so my so called investment doesn't sink.
Technical papers about blockchains are all meaningless in the face of the fact that a currency with zero stability is pretty much useless as a currency. Being backed by a powerful centralized government /central bank which ensure deposits, monitors supply and does what it can to stabilize the value is a good thing.