Could The Dark Web End Up Catalyzing The Flippening?
The volatility of crypto in recent weeks has a lot of people wondering what the future holds. One of the most interesting ideas is that we are heading for the great Flippening. However, there's always been the argument that the Flippening will never happen as long as Bitcoin remains the unchallenged most popular crypto choice.
Of course, lost in all the popular media coverage of crypto currencies the fact that one of the places where they are most used is on the dark web. Love it or hate it, it's a fact that the dark web is a major player in the crypto currency demand sphere.
But a recent article in AltCoinToday discusses the fact that the globalized success of Bitcoin has actually made it less attractive to the marketplace that arguably gave it it's start.
Dark Web Turned Off By High Transaction Fees + Long Transaction Times
Due to increasing transaction fees and times, the dark web is increasingly turning away from Bitcoin. And that's got me wondering if over the long term the conditions might be ripe for that mother of all crypto current events, the great Flippening.
Source: http://www.altcointoday.com/darknet-done-bitcoin/
And while it's true that the dark web isn't necessarily adopting Ether to replace Bitcoin, they're legitimate questions about whether the move away from Bitcoin in these circles will be enough to tip the scales.
Now, many people will argue that the dark web is a very small percentage of the overall adoption of Bitcoin across the general public. That may be true, but the fact is that it doesn't need to be so drastic to change the balance all by itself. It just needs to be big enough to trigger a general selloff.
Will The World Flip Its Way To The Flippening?
Another interesting factor to add into this equation is the idea that a lot of the new investors and space are not so much invested in the concept of crypto currencies as they are just interested in making a quick dollar.
If at some point during this volatile period, these speculators — you're just looking to flip crypto as quickly as possible for a big payoff — begin to believe that Bitcoin is going down and that Ether is rising rapidly as the next big thing where huge gains can be made quickly, they might try to jump on board and ride the wave to the point that the Flippening becomes self-fulfilling prophecy.
A Perfect Storm?
It's not entirely out of the question that these two things could combine.
If there's a reversal in the demand for Bitcoin on the dark web, which causes a gradual decrease, speculative investors might decide that there's no more value to be gained there and go looking for that next big thing.
Stay tuned.