Bitcoin and Ethereum Fall Substantially in $18B Crypto Market Wipeout

finance.yahoo.com

28 points·anandaverma18··9 comments

I don't play short selling, but if I did I'd be watching Tesla as well.

There are a lot of signs pointing to a broad decline-- rate inversion, historical highs for P/E, etc.

IMHO, caution is warranted.

Is there any real-world application for cryptocurrency, except for ICO scams and a colossal waste of power?

Illegal activity (drugs, extortion, child porn, etc)

yes. Ask Jack Dorsey, here YC, Steve Wozniak, the owner of NYSE, G20, IMF, Andressen Horowitz, the CEO of Techcrun ch, IBM, Microsoft and many other prominent tech community members of why they think it's revolutionary if you don't get it's uses/benefits.

you can start from http://a16zcrypto.com

real. world. application, he said :)

you mean something like this?

https://www.cnbc.com/2018/08/10/world-bank-picks-commonwealt...

Having a fixed-size monetary base currency.

Circumvention of local government is a very real application.

Anonymous (micro-)payment for things online.

Decentralized cloud storage (Sia, Filecoin, Storj, MaidSafe).

I'm personally fond of the idea of federally controlled stablecoins.

For ebay sellers, it eliminates the possibility for scam buyers to steal their money back after receiving an item.

On the flip side though, it enhances the possibility for scam sellers to never send products and steal money from buyers.

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