SummaryBitcoin is called a bubble frequentlyAs a Bitcoin enthusiast, I have decided to venture to the dark side and discuss the catalysts I see as potentially bursting the bubbleWe discuss the next possible Mt. Gox sized collapse, regulations on ICOs globally and the possibility of exchange shutdowns worldwideSound interesting? Read on — there’s plenty for both bulls and bears alike Source: Shutterstock
Bitcoin is a bubble, a tulip, a magic bean factory. That’s all you hear over and over again from various pundits on traditional media outlets or in the comment sections on any of the latest stories. Sometimes it goes a step further and is called a fraud or a Ponzi scheme. It’s for drug dealers and murderers. Who else remembers Silk Road and Alpha Bay?
Today we’ll venture to the other side of the story. What will cause the Bitcoin bubble to pop? Will it be another Mt. Gox? Will it be stricter regulations? Will it be affiliation with the dark web and markets? How about sovereign governments outlawing it as their economies are undermined? Today, we go to the dark side of the moon.
This article is available in video. The video is scripted and is a concise version of the article below with many pictures of headlines from the hyperlinks in this article to give a better understanding of what is happening. If you enjoy this content, please consider subscribing. Hope you all enjoy!Mt. Gox: Quick Recap (Skip if familiar)
Most of you know about the collapse of Mt. Gox in 2014. It was the largest cryptocurrency exchange in 2013, at one point handling over 70% of all Bitcoin volume. However, starting in March 2013, it began facing some major issues. FinCen released a statement that said bitcoin exchanges were money transmitters, therefore requiring them to register and comply with anti-money laundering (AML) laws. This, in part, caused the value of Bitcoin to plummet as concerns over regulations gre...