I think cryptocurrencies don’t have future no more. Too much banks, goverments are not intrested in development of crypto. So they will do their best to block it. Maybe it will take 1, 2 or 10 years, but i think without public support crypto is going to die =(
This looks like another step toward the “mainstream” for bitcoin –
The UAE regulator, the Emirates Securities and Commodities Authority (ESCA) plans to recognize initial coin offerings (ICOs) as a new way for companies to rise capital. The move is expected to be adopted in the first half of next year.
“The board of the Emirates Securities & Commodities Authority has approved considering ICOs as securities. As per our plan we should have regulations on the ground in the first half of 2019,” the head of the securities regulator Obaid Saif al-Zaabi said this week.
Hmmm, I guess the mainstream path is closer than we think… (think)
It is already mainstream.
From farmers to students, everyone started trading with cryptocurrencies. If you inspect ‘bitcoin’ term from google trends, you would realize that there is a remarkable increase every year. There are many reasons for that. One of that is decentralization of monetary systems. People want it and eventually they will get.
I agree that this tendency is increasing worldwide. However, I’m not sure yet if switching to one virtual currency for the whole world would be a good idea…
Im not sure if the Cryptos will go mainstream soon…Most of the people have already heard about Bitcoin or other cryptocurrencies. The only problem is that they just heard and didn’t used them. The reason is that it’s kinda technical market. We need more stability in the world.
Meanwhile there was another hack, this time in a Canadian cryptocurrency exchange, and the hackers allegedly made off with $6 million in Bitcoin, but it may or may not have been a scam perpetrated by the exchange. What a mess.
On one hand we have various legislative efforts in different jurisdictions to make cryptocurrencies more mainstream, on the other hand these things just keep happening.
This is becoming a huge problem indeed. I think that the authorities are still hesitant on what kind of measures to take and the hackers are taking a quite good advantage of the situation and making some serious cash. Until strong measures are not implemented, these attacks will not stop.
Well, Morgan Stanley will help with institutional investment that will undoubtedly filter down to the average Joe’s retirement account and managed account manager’s investment recommendations.
Bitcoin is now an institutional asset class
https://www.coindesk.com/morgan-stanley-says-crypto-is-a-new-institutional-asset-class/
Goldman Sachs is signing up clients for their new Bitcoin Trading product:
And add those events in with the adoption and listing of several stablecoins (allowing for quicker moves into and out of cryptos), many of which are supported in the US, that path has been set. ETF here we come! Thank you Morgan Stanley and Goldman. So the investment firms get in, and then the banks get it. Bitcoin to the moon! 
I have a small stash of bitcoin, so a moon-shot would certainly make me happy !
(but, not as happy as it would make John McAfee)
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It would be a serious feat of strength to get back to its previous peak
Its marketcap would need to increase by 200+ billion, and it would need to do so despite the mountain of bagholders left over from the previous run that will gladly sell at breakeven
Certainly not impossible, but very difficult
I imagine the bagholders, many that got in at the start of the year will willing hold on to that Bitcoin if we hit those same levels. Heck, I think if Bitcoin doubled today, you’d still have massive hodlers.
But keep in mind that many think, and have written of evidence, that points to much of the action in Q3 and Q4 of last year being manipulated by a few. So getting back to those prices, at least not in the short term, isn’t realistic, nor should it be.
But get some institutional traders in there that need/want to hold their own pool of funds for later
operational use with their clients, why wouldn’t they buy now when it’s cheap, knowing for a fact that the demand will be there, and they’ll have services dependent on the crypto currency. November and early December will be interesting times.
Look to Clint’s charts. The squeeze is on. Time to place bets on where we’re headed.
Bitcoin is down like 70% from its height, and most altcoins are down over 90% from theirs. The people that are actually still holding from these heights aren’t thinking about hypothetical trillion dollar bullruns that might never happen, they just want their money back
IE tether
it’s not though
The price has outpaced its own usage/adoption so much that it boggles the mind. It also doesn’t help that coins created as literal jokes (ie doge) are valued at half a billion dollars, and other coins that are copy+pasted (ie forked coins) are cumulatively worth billions
So you think if institutional and commercial adoption increases of cryptos, in general, and Bitcoin, specifically, that their prices stay the same? Current BTC price is what we’ll see at that time?
I guess it’s all perspective on what is cheap and isn’t. Knowledge about Bitcoin is mainstream, while it’s use isn’t. But wait for those two to come together and let’s see where price goes.
I also imagine that world-wide holdings of BTC aren’t majority held by us retail folks any more. And if I’m wrong, which could very well be, then it won’t take much for that balance to change, especially if what you say holds true - late stage 2017/early 2018 buyers wanting to break even.
Until the issue of instability is dealt with, I don’t see cryptos being used for anything other than a vehicle of speculation and pump and dumps. Institutions and normal people generally don’t want their assets to oscillate in price 5-15% daily.
I believe Bitcoin specifically is 100% dead in the water long term, and i will explain why in the next part.
Bitcoin can’t ever go mainstream in its use, and December 2017 was a perfect example of why. When the world FOMO’d into cryptos during the last bullrun, the scaling flaws of many prominent cryptos were highlighted. Bitcoin itself had something like a two week transaction time with an optional $40 fee if you wanted to skip the queue. That kind of glaring issue makes bitcoin completely worthless as something you could use down at your local shops. A few other cryptos had this exact same problem when they were pumping hard (personally had issues with eth and xrp, but I’m sure its not limited to them), but they weren’t as severe.
A sane community would simply admit bitcoins faults and focus on superior projects that can handle these issues better, but no, they cling to Bitcoin like a cult and try to keep it on life support with shoddy projects like the lightning network. It’s the oldest and most archaic coin on the market, and yet people refuse to drop something that will only hurt crypto as a whole in the long run.
Hashgraph seems to have solved the scaling issue, but it’s a question of when/if it will ever be released. If it does though, it will likely become the Google to the crypto markets Netscape Navigator
I read a report about halfway through the year that showed that over 90% of the mined btc were in the hands of a few people. That should be expected though, considering most types of wealth are usually concentrated in the hands of the few
I should clarify though that BTC is only dead if crypto gets used mainstream. If the market stays in this mode of pure speculation, the tech doesn’t really matter, and BTC has the benefit of being tied to the most altcoin pairs, so at least it has that going for it to keep its price above the others.
So much crypto development happening. Excited to see what this means for the industry once a lot of them start to complete.
Yup.
Meanwhile the FCA is mulling whether to ban altogether the sale of crypto-derivatives like CFDs on Bitcoin to retail clients. I am not sure whether that would help or hinder cryptocurrencies from entering the mainstream.
On one hand derivatives aren’t the same as actual cryptocurrencies and it may push people to look into the actual cryptocurrencies, on the other hand no derivatives means fewer people would even notice cryptocurrencies.
Thoughts?