The rise and decline of Bitcoin

[Akbar]

Has anyone been keeping in eye on the Bitcoin?
It went from 1600 to over 16000 within months last year.
Since the start of 2018 it has fallen down to less than 6000.

[khushal]

The technology is here to stay but it will never be a currency, its more like digital gold. The decline is due to attacks from institutions and governments that view it as a threat but they can't completely eliminate it, only slow it down. Jamie Dimon initially called it a fraud but recently back peddled his stance and the bank he runs is now involved in trading it.

[Firdousi]

Bitcoin is a little bit like Afghanistan: it was created for a context that doesnt exist anymore.

All these cryptocurrencies were created in an anarco-capitalist context. Anarco-capitalist aim was to create an alternative currency free of corporation, government and banking control.

Nowadays the main Bitcoin holders are those institutions. So basically cryptocurrencies have lost all their meanings. We should expect a crush in the coming years.

Also I find a bit annoying how this trends in the Western world obsessed to eradicate money. That would be a huge blowback for human freedom. Liberal bureaucratic totalitarianism seeks to further expand government control over people. Liberalism claims to stand for human liberty but all I see is human oppression growing and growing bigger.