2018-17-01_EthereumFirstDip

The banks, which are too ashamed to admit that fiat has been completely worthless ever since the removal of the "gold standard"  missed out on the early chance to buy ripple. They don't want to pay the advertised price of $4, so they get their puppet Warren buffet who knows absolutely nothing about crypto currency to talk "shit", because he's got more of a "reputation" dealing with fiat, which is nothing like cryptocurrency. The problem is in human nature, specifically greed. The majority of the impressionable population just wants to have a chance to make a quick buck. They don't care to learn about the technology and science behind Ethereum or Bitcoin, so a crowd mentality is "split" between groups of people who are investing :

1. They don't care about the money, they see an altruistic future where corruption and greed are easily figured out by its community. They want the chance to be able to help each other in a world where the community can take care of an orphan without having a "middle man" watching every transaction and taxing unreasonably while not clearly showing where each tax dollar goes into. If every transaction in the government was publicly available to any citizen on the planet, that would be the start of a real democracy and an effective end to corruption.

2. People who want to invest because they care about the technology, and they are well informed as "scientists" and not impressionable to drama or emotion when investing. They believe in the "long term" success, just as Satoshi Nakamoto (Bitcoin inventor) believed in the "future" value when introducing Bitcoin to the open source community  in 2008. At that time, it was worth pennies so people spent it in large quantities for fun (10,000 BTC for a pizza large pizza is equal to 2018-01's "100 million dollars" (Dr. Evil pinky)
https://www.coindesk.com/bitcoin-pizza-day-celebrating-pizza-bought-10000-btc/

2. They just want to make a quick buck, kind of like winning playing the lottery. They don't care to learn about the technology or its solutions. They are afraid to lose money in the short term and they will panic when they see their investment drop. These are not "HODLers". They are sheep and they don't deserve to reap the future rewards of Ethereum in the next few years.

Practical and feasable Ethereum integration solutions are on their way (march 2018 universal credit cards) and the system will correct itself in the long term.

In 2020 if you don't own any Bitcoin or Ethereum, you are homeless.



Footnotes:
"Removal of the gold standard"
Banks and the government need money to get the economy to do work. The only way money was ever given value when it was first invented, was how much the "note" was redeemable in gold. Since the worldwide gold supply is finite, the rule was that the entire US government could only store no less than 25% of their currency as gold supply.
https://nationalinterest.org/feature/who-really-killed-the-gold-standard-12435

```The old form of money, i.e., backed by gold reserves, had to be earned. The gold had to be mined and refined, which required labor and capital. To get the gold to back the currency, governments had to tax, which meant seeking permission from the taxpayers (voters) to levy the necessary taxes. And the taxpayers (voters) had to earn dollars by working and investing. At the same time, banks had to maintain substantial deposits with the Federal Reserve against their loan portfolios.



The system was real, with real restraints and real interest rates that allocated capital rationally. Malinvestments (i.e., asset bubbles) were extirpated expeditiously by the free market, and business cycle troughs were relatively short-lived, with successive recoveries quickly exceeding their previous cycle peaks (with respect to real GDP, real wages and real household wealth).



But after LBJ’s changes, politicians quickly realized that they no longer had to increase taxes (unpopular among the voters) in order to increase spending, especially vote-buying spending on their favorite special interest groups. The government could borrow to fund ever increasing deficits, secure in the knowledge that their servants at the Federal Reserve, freed by LBJ from the weight of any necessary gold reserve to back their Federal Reserve notes, would simply create the money out of thin air and buy the debt obligations not absorbed by the credit market (the definition of quantitative easing). Moreover, banks, as a result of substantially reduced reserve requirements, courtesy of the Federal Reserve, could easily create even more money simply by making new loans. For the first time in human history, it appeared that there actually was a “free lunch” (as well as free dinners, free healthcare, free education, free …). Just borrow and roll the debts forward, at successively lower Fed-engineered interest rates, forever (or until some distant generation had to pay the price for “free”).```

Basically, removing the "gold standard" allowed the federal reserve to "print" as much money as they wanted, without having to pay anyone back for them. That's why the US can have such an astronomical debt of 20 trillion as of 2018:
http://www.usdebtclock.org/

The reason that bitcoin exploded was because the USD and all fiat (traditional money) collapsed the moment 1 Bitcoin was worth more than 1 USD.

The current government spending system is extremely wasteful, makes corruption go unpunished, and has gone on long enough. Value will be given as the "community" values it, not however much the government decides to adjust inflation.