wolfstreet.com/2018/11/25/...am-melts-down-hedge-funds-stuck/
Bitcoin plunged to $3,738 at the moment. Down nearly 40% from two weeks ago, and down 81% from peak-mania of $20,078 on December 17, 2017. It’s back where it had first been on August 12, 2017. It looks like a magnificent bubble that is imploding, but “bubble” is a misnomer; it’s a magnificent scam [BC ist keine Blase, sondern ein riesiger Betrug], where people paid a lot of money – many billions of dollars – to get an essentially useless digital entity whose price then dissolved into where it had come from.
There are now 2,071 of these cryptos, according to CoinMarketCap, up from 1,926 when I last wrote about it on September 9, and up from 1,400 on January 17, 2018, and up from just a handful a few years ago. These cryptos are multiplying like rabbits.
And each of these cryptos, those that are still alive, is constantly adding new coins through “mining.” This mega-dilution impacts some serious real money...