Three seasons later into "It's always sunny in Philadelphia" and I run into this fun scene which again got me thinking about cryptocurrencies and the current trend.
The fear that "everything is going to 0" is not something that people should just brush off and ignore or not talk about just because they are invested into something. It's not something that hasn't been brought up in the past and through the last two ups and downs of Bitcoin that I've been a part of main stream media sure have liked putting it in our faces. Now I'm not gonna tell you that all of your "shitcoin" investments are going to survive and history has proven that many of them will eventually die off due to many reasons such as the team never having intended to go ahead with their initial plans, the bear market being too rough and killing off any development or their main idea maybe just not really requiring a blockchain to begin with. I am sure that there are many blockchains out there that also are way outdated and do not have a chance at developing themselves to match the current next generation ones such as Steem.
The implication that things can go down to 0 is rough for a lot of people and especially new investors that did not have a clue what they were putting their money into. Even though most of the ones that joined the hypetrain of late 2017 have at this point either cashed out at a phenomenal loss or are just holding and have already quit the scene to maybe return the next time they happen to hear about the hype, there are also many that rely on the income of crypto. Imagine how many companies got into mining this year and buying a lot of hardware and mining space and wasting so much electricity while trying to hold off on most of the coins they mined. They are now at the phase where they will have to either start selling the coins they have mined to pay for the current electricity bills or they will have to dig a deeper whole into their own pockets to invest more money into it hoping that this thing they don't really understand completely will have a comeback at one point in time.
Now imagine you are an investor that is looking to get into Bitcoin and say you have almost an infinite amount of fiat to do so. Would you just blindly invest hoping that this was indeed the bottom and that it's just profits from here on out or would you try and use that fiat you have to push the price further down through futures and shorts knowing that there are still a lot of holders that will be pressured to sell to you because you are killing their hopes and dreams. It's quite a psychological thing, markets. In the same way as they jokingly explain the implication in the clip above where you are out in the middle of the ocean with no escape a lot of investors are starting to feel the same way in the cryptocurrency space as well. For many of them there is not even enough liquidity anymore even if they decided to get out completely, they have invested themselves so deep into a currency over time that all they can do at this point is to just try and survive while maybe selling off parts to live off of.
Needless to say the current investors know all this, they know that these cryptocurrencies are scarce and that the only way for them to get bigger bags is to push prices down further to get the inexperienced investors and lucky early adopters to sell and give up. Same thing happens here on Steem, even though many may not have invested their money into it they have instead been lucky and used their activity and effort to receive a lot of rewards but many of them also will rather just trade at any given price than see it go down to 0. Here it's a lot different because there is no initial electricity initial investment in place and that's why Steem can be one of those currencies that can easily go 90%+ down from all time high. The reason the same thing can happen with other alt coins even though they require some fiat or electricity investment is because a lot of its market share has been created from profits that bitcoin has brought these investors.
There are a lot of factors involved here and crypto is of course like no other asset class in the history before since it can be traded 24/7 all across the world and if you think about it there are a lot of big fish that can suddenly have their meals taken from them from bigger fish at any point in time without them having full control over it. That's what makes the crypto markets a lot more interesting to follow than traditional stocks.
To those of you still wondering if you should sell because you think it can go much lower or down to 0... I will just advice you that you look at the fundamentals, current centralized competitors that exist out there and if this thing we all are using daily truly does need a blockchain to exist. Imagine if Steem was a bank and all the while we've been posting and investing the company Steemit would have been gambling with our funds off-site without us knowing and the brutal bear market would have caused a bankruptcy which would lead to none of us getting any of our funds back. Sounds crazy right? Well, unfortunately that is a reality for many people around the globe.
I always knew steem was a long term thing, since I joined (I joine when it was at its peak) it has gone down and down and I have almost lost sensitivity to it... I just keep going, and sharing and engaging with everyone... if this works, it will be an asset for my art, if not I will have engaged and got to meet an audience that was not anywhere else. The problem is when you rely on crypto as your income... I struggle and I would thank that but I'm aware it was not sensible to trust it that way, yet.
Hi acid. This will work out just fine. I am more positive than ever and looking forward to the end of January. The Bakkt and Fidelity influence is going to change everything as we know it.
https://steemit.com/blogs/@ustaadonline/how-are-women-shocking-fresh
This is by far one of my favourite moments of television. Everything about this scene is perfect. Its such a shame none of my friends can appreciate the comedic gold, and unique beauty of this show. Dennis's face when he says the second implication is flawless. This is without a doubt my new favourite comedy show.
I think the 0 should not exist in our mind. I try to be always positive even if things look very bad lately. I have hope that everything will work our the way we wanted and things get better with the time. Beside that we should always try to find new opportunities, so if one door is closed the others will still remain open.
Tbh, if steem's price really go down lower than 0 - then I will just move on with my daily life.
At least, I got many valuable things on Steem, other than Steem and Sbd!
Picked up 131 steem for around 50$ happy as a clam! My plan is 50-100$ each month at these prices and I will be a rich man one day!
Doomed + Best show ever !
Only the best writers can get away with something like this, and Sunny has not only gotten away with stuff like this, but fucking excelled with things like this for more than a decade. Truly the best written and performed comedy of this generation. Even if you don't like the show, you have to admit they've more than earned their spot among the greatest comedic creators of all time... it's just brilliant to walk that fine line consistently for so long without even a hiccup in quality.
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What do you think will happen if steem hits 0? How will it affect the community other than possibly nobody using it.
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One of attractive factors of Steem is that unlike a number of other cryptocurrencies in the market, it is already being deployed and used in its underlying blockchain. Many other blockchain cannot say the same as they remain in development with no use case at this point. However, Steem has built the largest ecosystem of DApps with active users over 300. While Ethereum can say they have the largest or EOS the fastest, we have the most adoption. Unless we all stop tracking our fitness on @actifit or stop playing @steemmonsters, Steem will not go to zero.
Not to be negative; but, STEEM on so many levels is defunct. Many of the exchanges which support this asset are non-functioning, in maintenance mode for weeks. That's not anything one can build an investment portfolio with.
People with wealth don't invest in things that aren't showing any potential for thriving.
I have to admit it was a bit befuddling to hear one of the main, ahem, promoters of STEEM, tout the future of BTC in a recent post; while succinctly, though briefly, explain why Steemit is 'failing' (my interpretive word). I won't name names; but, I will say, it speaks volumes to what those behind the scenes must be 'thinking'. Btw, I think that post was deleted.
Peace.
How do you like proof of wallet, now?
I never get when people talk about crypto going to zero. Yeah, some shit coin or some dev team without enough resources could fail and the coin could go to zero...but Steem is already here. There could be issues...but even in the worst case, if Steemit runs out of money, we can actually continue to exist without them. Steem won't go to zero.
I suppose technically Bitcoin might go to zero...but what are the fucking chances? I think they're damn near close to zero. Even in catastrophic circumstances, it will only go down extremely, never to zero.
It is useful. It a bit more than some, but cheaper than using a bank to transfer funds.
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i still haven't seen the season 10 bloopers
it's like being by the executioner. Knowing he can throw the switch at any time. But he won't. But he could