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Nothing fell apart, its all part of the process, just like the dot com bubble and bust, crypto/decentralisation is not going away. Economics always wins. Someon

Nothing fell apart, its all part of the process, just like the dot com bubble and bust, crypto/decentralisation is not going away. Economics always wins. Someone will make a better, regulated version, that works.

minimaxir 8y ago
> Economics always wins. Yep, supply and demand. Currently there's no demand for crypto/blockchain as appropriate substitutes already exist.
- wallacoloo 8y ago
  > no demand “No demand”. Isn’t Bitcoin still trading for several thousand dollars? Maybe you, and maybe most people, don’t have any want for cryptocurrency, but don’t let that make you think that nobody has demand for it.
  - bduerst 8y ago
    Most of the increase in transactions you see now are from HFTs speculating, who generate demand on any high-risk instruments if they think it has a return somewhere. Demand for Bitcoin as an asset isn't that different from any other commodity, but demand for Bitcoin as a currency is not there as many competitive substitutes exist. https://www.bloomberg.com/news/articles/2017-01-16/high-speed-traders-are-taking-over-bitcoin-as-easy-money-beckons https://www.bloomberg.com/news/articles/2017-01-16/high-spee...
    - duskwuff 8y ago
      And that's when the transactions are even real. There's significant evidence that >80% of volume is wash trades used to drive traffic to fraudulent exchanges. https://www.blockchaintransparency.org/ https://www.blockchaintransparency.org/
- pushtheenvelope 8y ago
  not sure I understand. cryptocurrencies in aggregate still have a market cap in the billions, which points to some demand.
  - bduerst 8y ago
    Market cap is misleading as a signal for demand, since it's based only on the last few transaction prices. That doesn't mean the whole market can be traded at that price, especially for something as volatile as Bitcoin.
- Nuzzerino 8y ago
  Citation needed. Not every country or community has access to your cushy first-world banking system.
  - filleduchaos 8y ago
    I'm not from the first world and yes, there's far better fintech solutions than cryptocurrencies here.

minimaxir 8y ago

> Economics always wins. Yep, supply and demand. Currently there's no demand for crypto/blockchain as appropriate substitutes already exist.

wallacoloo 8y ago
> no demand “No demand”. Isn’t Bitcoin still trading for several thousand dollars? Maybe you, and maybe most people, don’t have any want for cryptocurrency, but don’t let that make you think that nobody has demand for it.
- bduerst 8y ago
  Most of the increase in transactions you see now are from HFTs speculating, who generate demand on any high-risk instruments if they think it has a return somewhere. Demand for Bitcoin as an asset isn't that different from any other commodity, but demand for Bitcoin as a currency is not there as many competitive substitutes exist. https://www.bloomberg.com/news/articles/2017-01-16/high-speed-traders-are-taking-over-bitcoin-as-easy-money-beckons https://www.bloomberg.com/news/articles/2017-01-16/high-spee...
  - duskwuff 8y ago
    And that's when the transactions are even real. There's significant evidence that >80% of volume is wash trades used to drive traffic to fraudulent exchanges. https://www.blockchaintransparency.org/ https://www.blockchaintransparency.org/
pushtheenvelope 8y ago
not sure I understand. cryptocurrencies in aggregate still have a market cap in the billions, which points to some demand.
- bduerst 8y ago
  Market cap is misleading as a signal for demand, since it's based only on the last few transaction prices. That doesn't mean the whole market can be traded at that price, especially for something as volatile as Bitcoin.
Nuzzerino 8y ago
Citation needed. Not every country or community has access to your cushy first-world banking system.
- filleduchaos 8y ago
  I'm not from the first world and yes, there's far better fintech solutions than cryptocurrencies here.