This is a healthy period of time that slowly kills all the bullshit that accumulated in the space. I think the bear market will last longer because you have more people that continue buying the dip.
The bigger the pump the more people to flush out during the dump.
Its great to see that bitcoin get redistributed from speculators to hands that understand the underlying meaning of the technology. Those strong hands will push the next pump even higher.
Once you understand why bitcoin is so different its hard to sell.
Very well said, I agree. How long did it take you to go down the rabbit hole from thinking bitcoin is the king, to thinking an altcoin will beat it out, to coming back full circle and thinking bitcoin will be king? That is the cycle most (including myself) have gone through anyways. :)
I don't know I keep moving on that circle in a 3 month pattern xD
I am personally a much bigger fan of the ability that blockchain as technology can bring on a governance level of any industry.
That's why ICOs and alts are far more interesting. The idea that leadership is done via a meritocracy base on the benefits to the ecosystem and intelligence that can be fairly measured amongst all participants in the system on 100% transparent system is the big thing here.
Bitcoin is competition to the global banking system, but
alt coins, once they better designed and faster are competition to democracy and capitalism.
Right now I am with the alts in my rabbit whole journey. :D
Ah, so you have a ways to go still. :)
Though there will certainly be room for several different kinds.
I actually think bitcoin's biggest draw is as digital gold currently. Though at some point it might make a run at the payment sector as well. At the end of the day these things are just software, so what one can do others could also feasible end up doing as well.
Which is one of the main reasons I have circled back to bitcoin on my journey.
There are always ways to go. The argument against bitcoin is that usually big disruptive technology is never implemented by the first mover, as there is too much room for learning. Usually what happens is that a smaller system that can more easily adjust learns from the mistakes the first mover did and also makes use of the more prepared public.
That said, social consensus so far has resulted in the best decisions from all coins, and if any new technology comes to be, bitcoin can always adopt it.
But I´d say Bitcoin will be the digital gold and probably have the biggest market share, but it won't be the most interesting coin or that one that will have the greatest impact on society.
I agree. One of the fabric/platform chains will. It's just tough to tell which one that might be, it likely doesn't even exist yet.