The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

Those red lines on the graph are just awful: arbitrarily drawn to make things look worse. Fit an actual model and drawn on prediction intervals next time.

I have never owned crypto currency, I'm just easily triggered by bad graphs.

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#5

Post by ataturk » Mon, Oct 15, 2018, 3:40 PM UTC

About time, the whole thing has been a complete and total scam from Day Uno.

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#6

Post by fullshark » Mon, Oct 15, 2018, 3:41 PM UTC

Unless there's more analysis than what's quoted in the article, this appears to be nothing more than trend analysis based on the last few months.

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#7

Post by fullshark » Mon, Oct 15, 2018, 3:42 PM UTC

slammm wrote: post #3

I feel like its another case of the tech bubble. The projects with real causes and uses will come back from any implosion in the long run.

So illegal transactions and money laundering it is.

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#8

Post by Scoundreller » Mon, Oct 15, 2018, 3:43 PM UTC

drivingmenuts wrote: post #2

Well, hopefully graphics card prices will drop then.

My friend put a computer in their garbage bin last fall.

I took out its “worthless” video card and still sold it for $40.

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#9

Post by sneak » Mon, Oct 15, 2018, 3:45 PM UTC

drivingmenuts wrote: post #2

Well, hopefully graphics card prices will drop then.

That happened some time ago.

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#10

Post by pavlov » Mon, Oct 15, 2018, 3:45 PM UTC

An important harbinger of trouble to come is that the Tether (USDT) coin, which is supposed to be pegged 1:1 to USD, is now trading substantially below $1:

https://www.bloomberg.com/news/articles/2018-10-15/dollar-pe...

Billions of Tethers were printed seemingly out of thin air and used to purchase Bitcoin. It's part of the foundation of the house of cards that keeps Bitcoin at its current price:

"Despite their modest total market value of about $2.4 billion, Tether’s coins play an outsized role on cryptocurrency exchanges. They were the second-most traded among all digital currencies after Bitcoin as of Oct. 15, according to data compiled by CoinMarketCap.com." https://www.bloomberg.com/news/articles/2018-10-14/why-crypt...