Can virtual currency survive a rough start to 2018?

Discussion in 'Cryptocurrency' started by twhiting9275, Feb 1, 2018.

  1. twhiting9275

    twhiting9275 Member

    Jan 10, 2018
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    It looks like 2018 is starting out to be a tough year for cryptocurrency (or virtual currency as a whole).

    To start the year off, China banned bitcoin mining . Then, we have Coincheck getting hacked , costing over $500 million, and today, we have Facebook saying "No more ads" . Considering that Bitcoin's value has taken a rather sizable tumble in the past month, it might just be that 2018 is the year that Bitcoin and virtual currency go by the wayside? What do you think?
     
  2. KMyers

    KMyers Administrator
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    Dec 28, 2017
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    Fortunately I pulled most of my money out of bitcoin (which was less than $1500) when it dropped past $14,000 <-> 1 BTC, I have put some of it back in when it bottoms out but am being very cautious. BTC has also taken a few other blows with Overstock.com phasing it out, the transaction fees have increased and the length of time it takes to make a transaction increasing to hours in some cases.
     
  3. twhiting9275

    twhiting9275 Member

    Jan 10, 2018
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    Yeah, I just don't know, really. I've always been skeptical of bitcoin, simply because it just seems too sketchy, and the last few weeks have kind of proven my point

    Not that it hasn't recovered before. IIRC there was a 'hack' or some massive drop a few years back? Don't remember the specifics. I just think that the world is starting to see this as the fad that it is, and wake up to the dangers of it.
     
  4. KMyers

    KMyers Administrator
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    Cryptocurrency in general can be used for sketchy purposes which has given it a reputation that it has failed to shake. There are a lot of Criminals who love Cryptocurrency as it is anonymous.
     
  5. twhiting9275

    twhiting9275 Member

    Jan 10, 2018
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    Even more bad news it seems

    Not looking good at all
     
  6. KMyers

    KMyers Administrator
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    Dec 28, 2017
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    Agreed, I dont have a lot of Cryto but I have enough to have lost ~$200 in the past day
     
  7. twhiting9275

    twhiting9275 Member

    Jan 10, 2018
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