@Debesh 2 November 2021

News Hypes and the Crypto World

I am from the STEM field and take serious efforts to unfold the truth around new technologies. My experiments with crypto technologies, such as Blockchain, and other Distributed Ledger Technologies, discovered many flaws. The crypto community doesn't want to talk about the problems. They overlook the problematic issues and celebrate the hypes. There should be more tech innovation on decentralized technologies. But, news hypes seem to control the rise and fall of the crypto world. <><><><><><><><><><><><><><><> **Elon Musk had endorsed Bitcoin, and its price skyrocketed** Earlier, Elon Musk, the owner of the famous electric car Tesla had announced taking payments by Bitcoin. And, the price tag of Bitcoin shot to almost the US$ 60k mark! People started to speculate that the Bitcoin price tag would soon touch the US$ 100k mark. These are insane reactions (I think) from the crypto community. Elon Musk seemed to control the Bitcoin price temporarily Does it contribute to the growth of cryptocurrencies? Maybe, or may not be. But the news of Elon Musk's announcement played a trigger to create hype around the crypto domain. <><><><><><><><><><><><><><><> **Later Elon Musk stopped selling Tesla via Bitcoin payment** The price tag of Bitcoin suddenly dropped when Elon Must announced that Tesla wouldn't sell their cars through Bitcoin payment. It is also news that influenced Bitcoin negatively. In other words, a negative hype had driven the market away from Bitcoin. Musk seemed to devalued Bitcoin by not accepting Bitcoin payment The first endorsement of Musk pushed the Bitcoin price rise, and Musk's last announcement acted as a negative endorsement. As a result, the Bitcoin price fell. The general crypto market was also affected by this news. <><><><><><><><><><><><><><><> **Hypes drive the Crypto World. Do you agree?** Cryptocurrencies lovers and enthusiasts have some role in the fate of cryptocurrencies. At least, they are the mass who help propagate a new hype among the net users, especially the social media audience. Everybody understands how powerful are the common mass in propagating hypes on social media. The same is true for the crypto world. The crypto enthusiasts, lovers, and quasi-experts of cryptocurrencies play the most critical roles in propagating news hype about cryptocurrencies. The crypto players must develop a way to have a mechanism to control the growth of the crypto business. <><><><><><><><><><><><><><><> **Last words but not the final words** *The cryptocurrency market is always influenced by news hype.* Although the financial world mostly depends on prediction and forecasting, the world relies on the physical resources available on the planet. Actual values come from earthly assets, not digital and virtual assets. In theory, money may increase, but the actual energy resources of the planet are continually decreasing. *There must be a way to sustain economic development along with the resources of the planet.* What do you think? <><><><><><><><><><><><><><><> **Other articles in the series** 1) "Fiat Versus Cryptocurrencies," https://read.cash/@Debesh/fiat-versus-cryptocurrencies-902f4029 https://read.cash/@Debesh/fiat-versus-cryptocurrencies-902f4029 2) "What about a world without fit currencies," https://read.cash/@Debesh/what-about-a-world-without-fiat-currencies-1ae85570 https://read.cash/@Debesh/what-about-a-world-without-fiat-currencies-1ae85570 3) "Blockchain's Private Key-Loss Conundrum." https://www.publish0x.com/techfuture/blockchains-private-key-loss-conundrum-xdgdedo https://www.publish0x.com/techfuture/blockchains-private-key-loss-conundrum-xdgdedo   <><><><><><><><><><><><><><><>   ***Cheers!*** *****Debesh Choudhury***** https://twitter.com/debeshchoudhury/ ***Join me at*** *****Odysee********,*** *****LinkedIn********,*** *****Twitter********,*** *****Publish0x********,*** ***noise.cash******, and*** *****Facebook***** https://odysee.com/$/invite/@debesh.choudhury:d https://www.linkedin.com/in/debeshchoudhury/ https://twitter.com/debeshchoudhury https://www.publish0x.com/@Debesh-Choudhury https://noise.cash/u/Debesh https://www.facebook.com/debesh.choudhury/ *Text Copyright © 2021 Debesh Choudhury — All Rights Reserved* Lead Photo by **Ivan Babydov** from **Pexels** https://www.pexels.com/@babydov?utm_content=attributionCopyText&utm_medium=referral&utm_source=pexels https://www.pexels.com/photo/gold-bitcoin-coin-on-background-of-growth-chart-7788009/?utm_content=attributionCopyText&utm_medium=referral&utm_source=pexels #cryptocurrency #bitcoin #fiat #money #technology #hype **Read the content of my sponsors.**