so this is what happens when a phantom currency's value is wholly dependent on cocaine and meth and heroine deals via the dark net?
this is nuts.
this is what happens when the US and others devalue their currency. btc is a refuge for people who dont trust their country's financial policy be it greece, spain, china or [gasp] the usa.
the news accounts of btc being the goto of dark web are a bit overblown. the ip addresses are still perfectly trackable, btc ledger simply doesnt have a name associated. law enforcement has yet to complain to congress about it and i doubt the nsa has any problem tracking it. the bulk of the money coming in now is from wall street.
the investors are jumping onboard because the returns/gains for btc are too good to resist especially since most of them dont even understand how cryptocurrencies work. the fact that they are trying to make a futures exchange for crypto is just a sign that some people have enough confidence to gamble big on it. you can look foward to seeing more market manipulation at the exchanges like the eth stop-loss event. its sad since the volatility of crypto is what keeps it from becoming the replacement for cash/credit/debitcards.
i have no doubt we will see a steep climb with tons of mini crashes as profit-taking and stop-loss selling redistributes fools from their money.
with the finance analysts predicting a 1million$ price for btc, it means crypto is approaching mainstream.