Well the title says it all… but I read this on teh BBC website and it was thought provoking.
“While shares are being pummelled today, the euro has moved sharply higher. It is up 0.85% against the dollar at $1.1484. At one point it hit $1.15. Analysts says that investors are switching funds into both the euro and the yen, which are seen as less risky investments. But what about the dollar? It is being undermined as investors think that an interest rate rise by the US Federal Reserve next month is increasingly unlikely.”
The migration of value has begun. It’s moving away from the $ and into other currencies. This will be of benefit to BTC IMO but, and it appears to be the case judging by the current price, BTC is not, as yet, one of those currencies considered to be a backstop.
As a user and small investor in BTC coins, I’ve had to make the judgement call and hold back on buying more as there’s clearly a chance this could get worse. This XT malarky has dented us at a time when we could have been flying due to the global markets. IF ever there was proof that XT was a dumb fking idea from the get go, then this period of time proves it.
And if that muppet at CoinWallet.eu goes ahead with his plan there will be trouble. Not just network wide but for him locally. Computer abuse to affect a commercial network of small traders whose income would be directly affected is not, and never will be, acceptable and I will protect my customers, clients and business using every legal means at my disposal.