Bitcoin Flash Crash before The BIG #Bitcon Dump

Bitcoin’s network hash rate dipped a record 40% yesterday, Sept. 23, in a sudden shock for the network. Bitcoin, has been stuck in the doldrums lately, trading within a relatively modest range as altcoins (cryptocurrencies other than bitcoin) experience larger price fluctuations. Volatility continues to wane for bitcoin and is now the lowest it's been since April 1st, with a 30-day reading of 36% and a 60-day reading of 52%" . And that's why Bitcoin will NEVER see mass adoption. The price is way to unstable! When computing power is efficient enough to analyze the algorithm, it is only matter of time. What is done with zeros and ones may be altered with zeros and ones. The word algorithm means literally collection or group of rules. When you know the rules, you can bend the rules. This is existential crisis to exchanges of cryptocurrencies, after all, why go after individuals when you can loot the exchanges. All currencies that can not be exchanged are basically local curiosities. If exchange platforms are looted, maybe even simultaneously, that is the end to contemporary crypto currencies. It is only a matter of time. Is there more to be discovered about the "fragility" of crypto ! Did Satoshi factor that in? Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. Bitcoin is just worthless digits on a computer screen. It can never survive on its own. It needs power grids, internet, exchanges, It is la creme de la creme of ponzi! You can never hold a bitcoin, you will always be at the mercy of technology , exchanges and governments. And all these insolvent Bitcoin exchanges are no different than Bernie Madoff's ponzi scheme! And some delusional fools continue to refer to this electronic gambling as "money". I've got news for you geniuses, REAL "money" doesn't lose 20% of its value in a week. Bitcoin is an electronic gambling - at best. Here's the core problem with Bitcoin and why owners are going to lose a lot of money from this price level. As the level of prime number "work" increases, mining becomes less profitable. The biggest miners are in China due to the low electricity costs - the major cost factor in mining. Miners will buy less profitable miners as mining costs increase. Some will shut down. So, the biggest holders of Bitcoin are Chinese trying to take capital out of China and Chinese do most of the mining. Effectively, Bitcoin should be called China Coin. When the State decides Bitcoin doesn't serve their interest they will increase the kilowatt hour charges or make it illegal. Costs will increase and prices will fall. And, miners will charge more to process block chain transactions. Bitcoin was designed as a way around government money and control. Bitcoin believers see ownership micro shares spreading across the globe for an egalitarian digital money. What's likely to happen is quite different from the euphoric expectations. Bitcoin will revert from speculation to the designed person-to-person money with a slow but acceptable trans/sec processing speed. Forget the Lightning overlay - that's an attempt to go retail which won't work long term because it eliminates the privacy bedrock. Bitcoin is a worthless digital illusions of wealth. And then there's the Google Quantum computer than can decrypt 256 bit encryption (ie bitcoin) by next year . Quantum computing will kill cryptos.








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