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RE: WHY CRYPTOCURRENCY MARKET LOST ALMOST $90 BILLION IN THE LAST 24 HOURS?

in #bitcoin7 years ago

Because the majority of altcoins are forks of the original Bitcoin, and Satashi Nakamoto's Ideal strategy of a peer to peer decentralized currency has been prostituted by wall street banksters, who have obtained enough Bitcoin to begin margin trading, and the greedy fools who have participated by enabling the banksters by investing in Bitcoin IRA's, mortgaging their homes to buy Bitcoin in a futile attempt to obtain wealth without work or prudent investing- have given the wall street minions the ability to shred Satoshi's Ideals for the sake of short term profit- Watch Jeff Berwicks video explaining the upcoming "Lightning fork"- to speed up Bitcoin transactions and reduce fees- because the 1 MB block isnt large enough to allow processing speeds to increase in a sustainable manner as Bitcoins growth is exponential and unable to handle the scalability issues. A 10 MB block was suggested, but not implemented, which is why Litecoin price has surged, as the SCRYPT mining process does not have the scalability issues as Bitcoin which uses SHA256 mining process. Essentially- Bicoin has gone from a decentralized peer to peer currency to a centralized banking controlled currency via the implementation of the "lightning Fork". I hope I didnt sugar coat that too much.

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Sugar coat, Eh! No. :D

But, I love what you wrote here. Thank you @marcoagarcia3rd