1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Article- Bitcoin price crash

Discussion in 'The Main Board' started by Atlas, Sep 5, 2018.

  1. Atlas

    Atlas Administrator Staff Member

    Mar 4, 2016
    Likes Received:
  2. twp

    twp Administrator Staff Member

    Jun 16, 2018
    Likes Received:
    I agree. They are fiat money (nothing backing them) and vulnerable to exactly what is happening now, failure to be valued by their very users.
    They also are dependent on having a working internet to operate... Should the 'net go down, for whatever reason, there will be no access to that currency

    Even the latest "crypto", the Venezuelan "oil backed" currency, is failing to find support by users. There are other reasons for that particular "crypto" to be failing. If you back it with oil, you have to be able to pump that oil and deliver it on demand... The oil workers need to be paid too...
    Atlas likes this.