All coins down massively and they just keep falling, is this the end of cryptocurrency forever?
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That is an extremely stupid series of words. The government does not need their own crypto because they can just run a normal payment processor that is literally a thousand times better than cryptocurrency. The reason why cryptocurrency is shit is because you have zero standards for who can read and manage the ledger; if you don't authorise Chinese military intelligence, the mafia and the rest of the world's degenerates to approve transactions you don't need to waste so many resources to try to keep them honest.