OKCoin’s Xu Star Denial his Correlation with OKEx after Released from Police Custody
####90% of the conversations found here in r/cryptocurrency, and most other project subreddits are people *illustrating their imagined future* of the decentralized world ahead of us.
Today, that is all we really have. Bitcoin doesn’t really do remittances at the moment. Ethereum has an exchange ([IDEX](https://idex.market/eth/aura)) as its best DApp. Volume on Stellar’s Decentralized Exchange for cross-border fiat exchange is …. lacking.
Augur *just* launched today, and we don’t even know for certain if it is the product that we are hoping it is. At least the the valuation of Augur can actually begin now, rather than being just speculation.
But we can all have at the moment is our imaginations of the future, and some amount of pattern recognition skills that make us all relatively confident that this future we have imagined will arrive one day. [Check out this web-mapping of different subreddits and people that subscribe to common subreddits.](https://imgur.com/a/36Lkp0F). Here we see this fantastical, narrative spinning, imaginative microsection of Reddit where people share stories about the future, and what the future might be like.
**But the price gives no fucks about your imaginations**. The reason why the stock market prices are generally stable is because people can replace their imagination of the future, with concrete calculations of future income, make rational comparisons to other companies, and come out with a decent decree of certainty about the future valuations of different stocks.
When Bitcoin was pushing 20k, and the Coin Market Cap was pushing .9 Trillion, we were all geniuses, because we thought the future was here, and we predicted it. Now bitcoin is pushing down on 6K and CMC is pushing .25 Trillion, and all of a sudden we realize that the future isn’t here at all.
So how far away is the future? Wherever it is, I think it’s coming at an accelerating pace. In 2017 and 2018, 100x more developers came to the space than in all of 2009-2016 combined. This means that fundamentals are progressing at an proportionally quick rate. [Charlie Shrem, in the latest Bad Crypto podcast estimated that “Pretty much everyone has at least heard about cryptocurrency”.](https://badcryptopodcast.com/2018/07/09/charlie-shrem-150/).
People are coming to the space that we never expected. [The NBA Commissioner David Stern is getting into Crypto with a project trying to allow anyone becoming a Sports commentator](https://fanchain.com/), kind of like how Twitch allows anyone to commentate a video game.
[Celebrities left and right, along with their clout, are adopting crypto](http://time.com/money/5067488/11-celebrities-who-love-cryptocurrency/) just as much all of your friends and family are (which means some of them)
“It can all go to 0” is the biggest bunch of bull I’ve ever heard. A simple thought experiment can take care of this. If Bitcoin dropped too low, I personally would buy as much as I reasonably could. So would many other people. It’s a worldwide currency with a world full of buyers. Too many people are looking at the Bitcoin price, and asking “Should I buy today?”.
###Anyone who says “It can all go to 0” simply doesn’t understand the unique collection of different technologies that Satoshi organized, or what it produces.
And now to my first and last point. The current price evaluations of Cryptocurrencies are 100% due to the imaginations of the future in our heads. Therefore, when Bitcoin falls below 6K, Ether below $400, or your preferred coin below its best support, it’s because people have pushed out how far the future actually is. But the future is still there somewhere, and we all know in Crypto that for every bear market, where people think the future will never come, there is an equal and opposite bull market for people who think the future is tomorrow.
#The truth lies somewhere in between.