I'm afraid I haven't heard anything about that. Nothing came up when I searched the Google news compilation.
There's been a lot of news recently about hyperinflation of cryptocurrency prices, and speculation about when (not if) the bubble will burst. That's what made your title credible enough that i checked.
I see two aspects to cryptocurrencies: their utility as a secure and potentially anonymous transaction system; and their value as investments.
There's fantastic utility in cryptocurrency (technically, blockchain) transaction systems. But I personally think cryptocurrencies make ridiculous investments, because they're inherently volatile and insecure. Cryptocurrencies are for gamblers, not investors.
The cryptocurrency is technically just the numbers you get from burning electricity to endlessly spin prime number generator algorithms, within a framework that builds-in price inflation in the formula. A complete system, like bitcoin, moves units of cryptocurrency through the blockchain, which is a vast distributed ledger. Seems to me, you could move a digital currency around a blockchain, and simply make it convertible to real-world currencies like the dollar, at a fixed rate. In other words, strip out the artificial inflation, keep the transaction powers.
They're not crashing-n-burning yet, but give it time.
Current Events » in reply to Cryptocurrencies are crashing all over.
Crashing?
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- Cryptocurrencies are crashing all over.
