Cryptocurrency is crashing, are you in or out?

[OhNoYouDont]

vivster said:

monocle_layton said:
I know the recent Asian news was a cause for the crash, but at the same time seeing this mass panic just reminded me of how little people truly know about Bitcoin. For them, it's simply some random currency that can get you money.

If people are viewing cryptocurrency as investing money to make money, then I'd be a bit concerned about its future. Hopefully people become more educated and study cryptocurrencies before making a boneheaded move. At this point it feels more like gambling than an actual currency to many people

There is no point anymore. Crypto currencies have long become just commodities for a handful of people to trade and make money from. They are as much currency now as stock.

Even if crypto currencies will be used as actual currency some day it will not get widespread due to inherent design constraints.

https://en.wikipedia.org/wiki/Bitcoin_scalability_problem

I'm quite certain that all crypto currency will never amount to more than being a plaything for rich people, a money laundering tool and payment for illegal goods. It was a neat idea but humans fucked it up.

Bitcoin has a scaling problem. Other coins don't. See: XRP, XLM, RaiBlocks, etc. They can do ~100,000+ transactions per second which is more than credit card companies. And they can do it in some cases for free.