The State of Cryptocurrency

[trog100]

everyone talks about bitcoin but look whats happening to the rest of the altcoins.. i am hoping that when BTC hits 8000 it will bottom out.. but that is yet to see..

trog

 

[dorsetknob]

Was in my local Town this morning and spotted a Street Begger with Sign saying
" will Accept Bitcoin"

 

[Vya Domus]

Healthy fluctuation , some would say.

 

[dorsetknob]

Healthy fluctuation , some would say.

10 to 15% would be a healthy fluctuation looks more like its hitting 40 to almost 50%
If the Dollar fell that much in just over 14 days >>>>>>>>>>>>>...

 

[silkstone]

The last little rise was a typical bull trap. The market will continue to decline for a while before reaching it's new level and maintain that for a while before the next big pump.

 

[Vya Domus]

If the Dollar fell that much in just over 14 days >>>>>>>>>>>>>...

Nah man , didn't you hear, crypto is definitely the future. Who needs stability.

 

[FordGT90Concept]

The last little rise was a typical bull trap. The market will continue to decline for a while before reaching it's new level and maintain that for a while before the next big pump.

I'm not convinced there will be another "big pump." Too many investors got burned which should make it clear that crypto is a poor investment. I think once the investors finish selling off, it'll go back to like it was in 2016 where only miners are involved based on electrical cost.

 

[Vayra86]

I'm not convinced there will be another "big pump." Too many investors got burned which should make it clear that crypto is a poor investment. I think once the investors finish selling off, it'll go back to like it was in 2016 where only miners are involved based on electrical cost.

Or it may very well continue to jump as it does now because that is what makes a lot of these 'investors' rich - playing the market with big numbers has been a thing for a while now. The news surrounding crypto really is just part of the story IMO. Realistically the only purpose for the current crypto coins today is their function as a vehicle to make a quick buck on. Everyone else with the smallest bit of intelligence has jumped ship or never got on in the 1st place.

 

[mad1394]

Or it may very well continue to jump as it does now because that is what makes a lot of these 'investors' rich - playing the market with big numbers has been a thing for a while now. The news surrounding crypto really is just part of the story IMO. Realistically the only purpose for the current crypto coins today is their function as a vehicle to make a quick buck on. Everyone else with the smallest bit of intelligence has jumped ship or never got on in the 1st place.

You know...somehow I don't consider myself very intelligent for not buying a few bitcoins when I first heard about it

Also @trog100 : video card u gieb?

 

[trog100]

looking at the yearly charts BTC is now back where it was in mid november of last year.. thats the point the price increases went insane and shot up to near 20000 by mid december..

the other interesting thing is where is all the billions coming out of crypto going.. the dollar is down.. stocks are down.. in fact everything is down..

none of it makes much sense.. he he

trog

ps.. i will continue to hodle.. crypto was never a quick buck to me.. i dont own any bitcoin just some eth litecoin cardano and neo.. i am still in profit just not as much as i was..

 

[newtekie1]

Good, maybe all the miners will stop buying up all the graphics cards and pushing prices up.

Heck, hopefully some of them start selling off their cards cheap and I can pick up a good deal on a card!

 

[Vya Domus]

crypto was never a quick buck to me..

Seems to me like that's at the heart of all of this , with the emphasis being put on "quick". I don't see how anyone can currently devise some sort of long terms strategy.

 

[FordGT90Concept]

Or it may very well continue to jump as it does now because that is what makes a lot of these 'investors' rich - playing the market with big numbers has been a thing for a while now. The news surrounding crypto really is just part of the story IMO. Realistically the only purpose for the current crypto coins today is their function as a vehicle to make a quick buck on. Everyone else with the smallest bit of intelligence has jumped ship or never got on in the 1st place.

The market is too small and easy to manipulate.

the other interesting thing is where is all the billions coming out of crypto going.. the dollar is down.. stocks are down.. in fact everything is down..

The economy is finally coming out of the recession that started in 2008. Everything's down because USD is going to start getting more expensive as interest rates start ticking up again. This is bad for investments that aren't government-issued (stocks, commodities, etc.)
https://www.reuters.com/article/us-...ses-after-strong-jobs-data-idUSKBN1FM1KC?il=0

 

[trog100]

Seems to me like that's at the heart of all of this , with the emphasis being put on "quick". I don't see how anyone can currently devise some sort of long terms strategy.

my long term strategy is based on what i saw going on during 2017.. hold and watch prices go up.. things have changed a bit during 2018.. hold and watch prices go down.. he he

i am rather hoping the hold and watch prices go down is just a temporary phase.. he he he..

trog

The market is too small and easy to manipulate.

it is but as a hodler that dosnt bother me too much.. i just hodle through it all..

trog

 

[silkstone]

I'm not convinced there will be another "big pump." Too many investors got burned which should make it clear that crypto is a poor investment. I think once the investors finish selling off, it'll go back to like it was in 2016 where only miners are involved based on electrical cost.

I think you have too much faith in humanity. Greed will take over again at some point and take prices up. That's the bleak outlook anyway.
You never know though, it could all turn positive, a few coins gain more mainstream adoption as the number of real-world uses increase. The coins gain in value while the others die.

 

[trog100]

i dont think crypto has to be pumped up.. the natural trend is up...

what seem to be happening is a few big players commonly called whales.. pick their moments and trigger a panic sell off amongst the small fry who are all too easy to panic..

prices drop and the whales scoop up the small fry and buy the dip.. rinse and repeat..

ether way now the whales seem to have chosen a new bottom of 8000 for bitcoin it will all start to go up again..

each time the whales do this there are less an less panicky small fry to gobble up.. in theory this should stabilize price fluctuations..

trog

 

[FordGT90Concept]

There's nothing "natural" about cryptocurrency. It's literally 99% speculation. Someone could buy a billion worth (110,000 BTC) in crypto to start another bubble. Other people will think it's on the rebound and start buying raising the price until that billionaire is satisfied and they sell out again. Everyone that thought they were going to win gets burned, again. It can happen ad infinitum. The market is too small and is easily manipulated. I don't think that will ever change. Only miners can make a long term profit.

 

[Sasqui]

Good, maybe all the miners will stop buying up all the graphics cards and pushing prices up.

Heck, hopefully some of them start selling off their cards cheap and I can pick up a good deal on a card!

I was going to wait as well but ended up flipping at least 8 graphics cards on eBay after patiently waiting for stock to show up on Newegg. Yes, there was a time, just theis past Dec when they were selling for 40-50% premium on eBay, even over the jacked retail on Newegg. That's no longer the case. Retail prices are now higher than eBay ones. I still have a pretty big balance from buying ans selling cards, GTX and Vega when it was profitable, Yea, I'm part of the problem, lol

In any case, the market has been flooded before with cards... and retail went down too when Bitcoin dropped about 2014/2015

 

[trog100]

There's nothing "natural" about cryptocurrency. It's literally 100% speculation. Someone could buy a billion worth (110,000 BTC) in crypto to start another bubble. Other people will think it's on the rebound and start buying raising the price until that billionaire is satisfied and they sell out again. Everyone that thought they were going to win gets burned, again. It can happen ad infinitum. The market is too small and is easily manipulated. I don't think that will ever change. Only miners can make a long term profit.

it took five years or so for bitcoin to get where its at.. which does kind suggest your thinking is wrong.. but i aint gonna convince you and you aint gonna convince me.. best we leave it at that..

we both agree that manipulation is going on.. its just the who and why we differ on..

trog

 

[FordGT90Concept]

Where it was in 2016 is where it should be. 2017 was speculation driven. Reasons for speculation I can quickly name:
1) a few very wealthy investors making big buys creating a false confidence in the market
2) exchanges inflating the value of it by claiming its worth more than it really is
3) fear of missing out
4) actors in China shuffling BTC around to make it look like the market is more liquid than it really is

The manipulation is everywhere and they're all in it for themselves. At the end of the day, it comes down to electricity which is what it was in 2016. Whenever it goes higher than that, it's a bubble.

 

[trog100]

i think greed and fear of missing out has driven it up all on its own.. the big players make big sells at the right point down it goes to a controlled and predetermined level in this case 8000 which i rightly guessed at.. then the big players make their big buys to halt the panic sell off and up it all goes gain..

take note the whole lot has re-gained %60 of its losses in the past couple of hours.. i also think the big fat controllers needs to let everything go up a fair bit else they really will destroy confidence in the market something i dont think they want to do..

we differ in one way only.. you think its one huge ponzy style scam.. whereas i think crypto really is the future and we have to get with it like it or not..

also at what point investment becomes speculation i aint exactly sure..

trog

 

[Space Lynx]

i think greed and fear of missing out has driven it up all on its own.. the big players make big sells at the right point down it goes to a controlled and predetermined level in this case 8000 which i rightly guessed at.. then the big players make their big buys to halt the panic sell off and up it all goes gain..

take note the whole lot has re-gained %60 of its losses in the past couple of hours.. i also think the big fat controllers needs to let everything go up a fair bit else they really will destroy confidence in the market something i dont think they want to do..

we differ in one way only.. you think its one huge ponzy style scam.. whereas i think crypto really is the future and we have to get with it like it or not..

also at what point investment becomes speculation i aint exactly sure..

trog

The fact the currencies are even controlled by central "big" actors is exactly what crypto was meant to defeat... lol. I'm staying far away. My money is safe and sound in a bank, no risk. I'll keep it there thanks. lol

 

[FordGT90Concept]

also at what point investment becomes speculation i aint exactly sure..

Speculation bubbles form in response to investment. That is to say, investors are buying at a price that makes no sense in anticipation others will do the same.

 

[Noyand]

https://www.chaingers.io/en/index.html
well of course when money gain isn't involved people don't feel like getting into it. They are asking gamers to help, but gamers aren't the one with the most leverage on this. goal n°1 should have been reached in a matter of seconds. (getting 100 miners).

 

[the54thvoid]

Speculation bubbles form in response to investment. That is to say, investors are buying at a price that makes no sense in anticipation others will do the same.

This is the absolute binary truth. Investment is the act of inputting your cash (in normal terms) into a product you feel, based on promise of anticipated performance, will increase its worth. So, I invest money into, lets' say Nvidia because their work in AI is looking pretty solid (I was going to buy shares when they were at $95, they doubled in a year). The more people invest, the higher the share price goes (scales of demand in the investment world). Speculating is hand in hand with investment whereby you speculate on a products worth or where its value will end up.

People consistently confuse cryptocurrency as a real mathematical solution and a value based commodity. It is the former, not the latter. The fact that people mined it at the beginning is very cool. Then however, bigger, richer people started buying larger mining rigs. Then the price of each coin increased as the pool slowly diminished. Then before you know it, wankingly rich turd burglars of companies and investors starting creating monstrous mining farms, thus increasing the BTC rarity and increasing the value. This is accompanied by sudden investment from people sniffing a ballooning value.

It is the investors buying into BTC, not the miners that have destroyed our graphics card market and destabilised the product. As the value of crypto has increased, more 'coins' appear and more people create ideas to sell (go google 'prodeum'). This lazy ass get rich mentality is what deserves our anger - not the mining, per se. All that being said, the power usage is unnacceptably high for working model so crypto needs more efficiency and it is those coins that will become more 'valuable', I think.

@R-T-B, you must be getting tired of all this