Well today has been brutal in the crypto markets red,red,red. Ethereum has certainly taken a beating with Lota Stratis and Zcash not far behind. Has the bubble burst or are inverstors getting bearish over the coinbash crash/refund?
For those of you who live under a rock Etherem had a flash crash on Wednesday dropping to around 10 cents and then slowly recovered. To add salt to the wound coinbase recently decided to refund users who lost out big, which I think has caused a massive sell off. Coupled with the fact Vitalik Buterin was quoted as dead. Ouch!!!!
Should we refund the mistakes of investors and poor code?
My personal view is a big no. Crytoland is suppose to be decentralised, fair and without outside intervention. On two cases this has been over turned one causes a fork in the Ethereum blockchain the second refunding investors because of a poor stop loss command. Before I get fried I am well aware of how a stop loss works its the same accross the board if a market crashes the order is fired at the best price.
I would love to hear your thoughts?
The good news is some big players are getting behind Ethereum with John McAfee starting up a cryptomine and striking up a deal for 60GPUs. He was quotes saying investment in Bitcoin would bring MGT back into the black, proming news.
My overall thoughts are its been an amazing year for crypto, some fantastic ventures have emerged, some are in progress and on verge of release. A huge correction was inevitable coupled with a few other varying factors but prices with stablise and give us a true reading of where the markets stand.
Until next time Steem On and dont forget to vote/follow