Quote:
Originally Posted by pornguy
I agree. But if the big banks see it as a threat in any way they will react.
Sadly people screw up some of the best things around.
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on the contrary...
look at how the price of cryptos goes up with bitcoin and down with bitcoin...this shows how weak cryptos really are...
the reason for this is that the only REAL exchange between altoins and fiat can be done over bitcoin...very few exchanges offer actual crypto to fiat transfers and they mostly offer only bitcoin and maybe eth and litecoin...most offer only crypto to crypto...
how would 600 billion dollars be cashed out?...or even a billion?...or even 100 million?....
the banks just have to sit bank and watch the bubble grow...people are investing HEAVY and the early holders are cashing out HEAVY...basically the top 1% are cashing out while 99% are putting money in...
until the weakest link = cashing out is solved, cryptos are on thin thin ice...when exchanges start selling the top 20-30 cryptos for fiat then things will change...but this is a loooong way away because if you do business with fiat you are bound by the rules of the issuers of the fiat...
to be able to actually exchange effectively you need lots of reserve $$$$$ for every crypto you offer cash out for...considering the market cap of 600billion (doubled from 300billion in just one month) I see a HUUUUUUUGE bottleneck in the way of cryptos being anything other than a ponzi...