For the past month i have been trying to explain to people that i think crypto has quite a bit of value to lose yet. I'm often met with enthusiasts blowing their stacks and calling me names.
I understand their enthusiasm and like them i can see the great things that blockchain and crypto will bring to the masses.
However, some of them won't hear any of it and their "enthusiasm" borders on religious fervor. critical thinking goes out of the window!
I also understand that alot of these people may have bought into crypto in the middle of the hype and so can see their investment going down and are praying for it to rise..
Everyone seems to have lost sight of the fact that there had to be major pushback. There have been countless scams, crypto has been blamed for North Korea's nuclear program!!
I don't want to debate the ins and outs of who and why those scams occurred, but we have to realize that a good deal of the price rise was due to hype. Like the dot com bubble crypto will go down, some tokens will disappear and then the real players, the strong will surge forward, much like Amazon etc..
I would say the top ten plus other useful, functional tokens.....Then it will all start over and the sky will really be the limit.
We also have to be weary of central banks and their plans for crypto..
I'd like to be wrong in my assesment of course. My hope is that one or more fiat economies will collapse, as that's what alot in the west are heading for. All who use the fractional reserve lending system. Then we will see huge movement into the crypto space...
it is obvious that not each of the 15'000 tokens will succeed and everyone is aware of the fact that BTC is undergoing a pullback for the last 3.5 months.
What noone can predict is the bottom of the recent pullback, not in price and not in time. so why you by yourself dedicate your time towards spreading FUD comments with random calls like "btc will fall for the next 6months"?
This behaviour shows to me that you are actually one of these desperate people that you have mentioned in this blog post. Seems like you are trying to put yourself into therapy this way.
If you cant bare this correction then another option is to profit from the current situation by shorting BTC. There are several retracement / trendlines and support levels that will help you doing so. These are actual indicators that are way more useful then your random FUD calls that are backed by nothing else but your own insecurity and desperation.
There aren't 15.000 tokens at all. Nearly 2000.
I see by the use of the acronym "FUD", you are one of the blind followers i mention.
I have studied blockchain and crypto's for over 3 years and have been involved in a couple of ICO's. I have been selling P2P BTC, LTC and ETH for over a year and have now included bitcoin cash.
You are indeed one of the blind who worship crypto with religious fervor. I can tell by the way you get angry and revert to personal attacks. I believe in people like charlie Lee, who a year ago told me that if i wasn't prepared to hold LTC at $30 then don't buy it.
I said in all my comment that this is my personal opinion. I watched people just like you pump money into bitconnect then use the sane terms as you have to anyone who dared to state the obvious.
I'm telling people that if they are in crypto for profit in the next year they should be careful and not buy high.. thousands of people listened to people like you and bought BTC at $10-$15k, believing your type of hype. I bought my crypto a long time ago.. I've held BCN for nearly 4 years, don't tell me about crypto or who is desperate, you don't have a clue..
I sell crypto for a living, i don't rely on the price, i make 10% whatever the price is. people buy crypto with fiat, i take 10% of that fiat I'm in it for the long haul but recognize that's what it is.
I wouldn't buy BTC over $5k unless i was selling it immediately that day..
You do what you are doing, i'll do what I'm doing eh? lets see who has done the best by Xmas eh??
We disagree, now lets move on like adults with less name calling eh??
You clearly miss the entire point and instead you are bringing up arguments to debate facts I havent even mentioned. I'm not sure if this is dueto a lack of your reading comprehension or if you are simply ignorant, so let me break it down for you so that it is even easier digestible:
What I am criticising you for are your spam comments that go like this:
Anyone calling such specific targets, not matter if in price or in time, is simply full of shit. While you by yourself bring up any random numbers, you at the same time write everywhere stuff like "TA has no use in crypto.." which shows you not only as an awful hypocrit but also exposes your massiv lack of understanding. Because guess what: the price of crypto is decided by human sentiment, the exact same factor which drives any other market like e.g. the stock market. TA therefor with all its tools is an indicator that runs based on sentiment and is a very useful tool ESPECIALLY during pullbacks by using high-probability targets when going short.
Furthermore you decided (since you obviously didnt manage to bring up any different arguments) to bring up some wild bs accusations:
I really wonder how you come up with the idea that I would hype bitconnect or that I'm a blind permabull, you wont find the slightest hint for any of this bs in my comments.
This pathetic response of yours is truly embarassing and I sincerly doubt in the fact that you are already for 3 years in cryptos or even any other market. I really would recommend you to slow down with jerking off to your NSFW content (who the hell even uses steemit as a porn site) so that some of your blood flows back into your brain.
I'm not going round in one of these stupid arguments where so called "experts" like yourself argue moot points.
crypto is nothing like the forex market. Crypto moves with news cycles, i grant you so can stocks but stocks are ownership in tangible assets of a companyy, crypto isn't.
crypto is either currency or a token of function operating on the blockchain.
I don't care what you think about how long I've invested in crypto, you know nothing of me. I was buying things online with BTC when it was $2.
there isn't porn on nsfw, if you call that porn you've been sheltered. And so what, if i want to jerk off to donkeys its up to me and i don't fear who knows about it. Your childish attempt to embarrass me shows your worth I'm afraid and i think I'll mute you as you are just a clown.
If you think the stock market or forex operate like crypto then you really are a newbie.
When i need to take advice from a novice like yourself i think i will retire. i was trading when you were shitting yellow>>
Like i said, i sell crypto P2P so don't care about price..I get 10% whatever..Bye now, have a great evening..
You said there are 15,000 alts..there isn't.
15000 is simply a big number used by me to express a large amount of tokens, I dont get it why you are picking on this number and that I even need to explain this
also I find it hilarious that you still try to avoid my main argument which is that you are being pathetic with spamming your fud calls like "BTC will drop to XY / BTC goes down until YX". Instead you are argueing about numbers of symbolic character (15000) or even argue about your porn consumption which I couldnt care less about but has been a suitable metaphor to question your mental capability.
By posting your random and therefor worthless FUD calls you really make me doubt in any of your trading experience, specially since you seriously try to dismiss TA for cryptos.
So imagin you do your research and you come to the conclusion that 98% of all analysist aim at a certain trendline / resistance or retracement level, would it blow your mind if BTC exactly jumps of from this level? All it takes is to do your research on a daily basis and you already have an increased probability of trading succesfully. Of course there can come some breaking news or e.g. a Mt Gox sell off but thats the reason why noone has a 100% success rate
OK, you said 15000 by accident. I accept that. Bit ironic the comments you make about me now.If your argument is I'm spamming, show where i have produced spam? I haven't, just comments that you don't like so you call them spam.
I've looked at your blog and its just resteeming of others "work". My comments aren't aimed at you. You are in the bracket of sheeple, you listen to others.
I know exactly what indicators are, like i said they apply to a different market with different trends. Again, i was just alerting people to the fact that crypto is going to drop. That's due to real reasons, not lines on graphs. Its based on movements in the hardware markets, like mining equipment etc. Its based on things like Mt Gox. Why do you think they sold that huge portfolio off? Because they thought it was going to increase in value. The scams have been a targeted campaign by banks and governments to scare the public. whales were employed to speculate and drive the price up and dump it, for the same reason
It would suprise me if bitcoin doubled in the next month. however it wouldn't suprise me if it halved in value.
I'll give you 2000 bcn if bitcoin is over 18k by xmas. You want to take that wager? Time to put up or shut up. Put your money where your TA is, so to speak??
FUD stands for fear, uncertainty and dread. Who did i scare? we're supposed to be adults. I'd rather scare people anyway rather than fill them with false hope.
have a great evening.
I havent said 15000 by accident but as stated already just to illustrate that you need to pick a few winners out of this big pool, are you serious about this or just pretending that you dont get it?
Also it seems like you try to convience about the actual btc trend, what gives you the impression that I'm pumping btc and that I expect new ATH any time soon? I never stated anything like that, what I'm doing is criticising people for bringing up random targets (no matter if bullish or bearish, I'm having the same situation with @salahhudin2004 which is spamming the exact opposit and being a pathetic perma bull). I have a huge problem with such people since the majority of crypto investors are not experienced enaugh to make their own decision but are more likely to follow any person that provides them news which supports their hopes and wishes.
So no worries, I am very aware of the present situation, but only of the PRESENT situation. I do not care what the price might look like in days/weeks/months because its worthless anyways. I reevaluate the market on a daily basis and try to make money on the ways up AND down. Again: I'm not argueing with you about the BTC trend, get this piece of information into your head already.
The last part of your post is a bit scary. I don't agree with you that it would need a fiat or two to collapse but still, that would be a bad situation.
I do believe that you are correct in that many cryptocurrencies have a long way to fall still. Many had such high hopes in January when it seemed nothing could stop the trend but now we have to be more realistic and see this space without rose colored glasses.
I'm with you on that..
the main fact is that bitcoin was created not for trading but as an alternative to fiat currency so that large sum of amount could be easily send or recieve at any time or any place on earth. once more people understand about this technology then there will be mass adoption in bitcoin and so shall the price we see now will be 10 times more at that time.
No. satoshi's vision was a payment currency. its turned into a storage of wealth and will never be used for small payments in any big way..
I have said that.."When" it is adopted and "if". Bitcoin "could"go very high eventually.
Your view is that of an idealist. Emerging nations will adopt it mainstream first...They have a real need.
Any payment system will be with currency that has no fee...
wrong, the lightning network just went live and it could actually turn btc into a small payment currency.
I already had to deal with your inexperience and ignorance, but from an investing point of view you really dont want to dismiss this piece of information. Keep an eye on its development since it could suck out some marketcap of alts that have been designed to serve this purpose.
OK of course it will. when all BTC developers have basically rejected that and thats why we have bitcoin cash. catch up, eh?
There are developments of crypto as small payment and a company today announced POS system,( handheld) in the Autumn which is for bitcoin cash, Doesn't rely on any confirmations and will have a wallet that converts crypto to fiat..
You want to keep calling me names. Clever.
Are you following my comments? seems like it. I'm flattered.
Why would you use satoshi to pay for goods or services when it could be 10X value in 2 years?? Its wealth storage as developers took it away from payment system of satoshi's vision. its why they forked and made bitcoin cash..
Why did you not reply to this? Because you realized your mistake.?
You talk about my ignorance yet you can't differentiate between BTC and BCH..
because there is nothing to argue about; lightning just hit the mainnet
but as you have proven yourself to be a Bitcoin cash fanboy I have bad news for you buddy, the rescent progress of BTC is the beginning of the end for your trashy altcoin. (also BTG is meant as a store of wealth, get your shit together already)
You're a straight up and down fool..I expect you say XRP "isn't a real crypto"...
You have nothing of value but inane arguments. Go away, my time is more valuable than this. Ta ta
you can assume and bring up whatever bs you like, I'm everytime curious what you come up with next, you are so creativ ;-)
and no worries, I'm sharing your love for xrp <3
but I'm going to remind you once bitcoin cash hits rock bottom, see you then!
And my "shitty altcoin" is doing nicely..$1000 last time i looked. Out performing BTC
I'm sure the hype had a lot to due with the rise in Cryptos. Honestly, I am not suprised that the worth of the cryptos have gone down for the time being. Good time to get in! I have faith, plus I am not afraid to lose.
Same here. Its still falling so i'd be patient to get in...I bought LTC at $28 in august i think!! Bitcoin was still a couple of grand....
Lots of hype and greed in 6 months eh??
oh yeah, i have friends that let it hit them hard emotionally. I tried to expect this sort of outcome. It seems normal
thanks for the vote btw and
imo the cryptoplebs ... (its not meant demeaning, just an easy collective name for people who just found out it exist , in the last two or three years or so, and venture capos who throw heaps of money at it since its easy to manipulate as "a niche market) have a lousy habit of using the same old statistic methods used for shares, oil, bonds, fiat forex and about every kind of trading since the 20s ... where i think its idiocy to treat grainprices with the same methods as currency and even currency pairs on the same dataset over 100 years regardless of situation and about 10000 other factors with crypto being new and BTC actually being the first actuall application of blockchain technology being older than some peoples kids (by a few years now) they do the same ... while BTC was supposed to be the decentralized dollarkiller (as it can hold the same value as the total amount of dollar in the world or even more depending on the value of the last satoshi) LTC got "invented" ...(lets not say copied) as the silver to btc's gold with the extra perk that the algorithms were supposed to favor cpu miners after people who had plenty already started to build gpu farms
now there's a token war going on which makes it even more difficult .. you cannot compare BTC to Steem of flixxo or whatever in any way, nor can you compare it to the "lesser" coins (qua dollarvalue) like zec or eth/etc since the backing is different, steem is supported by a social network where people actually sell off monthly as a means of extra income, which makes it closer to a currency while BTC is an investment more like
all of this is built on top of blockchain - "tek" ... i think the picture isnt clear to many and thats why you d get flamed a lot ... i have seen since it started the end of the cryptoworld many many times, every time some regulation passes you can rest sure the mastodons of money pounce on it because so far it has been driven purely by flight(from fiat due to encartainty) to fud (back to fiat due to panic and 'the end of the world')
if one thing id say its highly unlikely to expect it to reach previous heights in the short term, but its just as unlikely that its the end of the world too. Too many peope have too much money in it. The tek is being picked up by wallstreet 1%ers which means regulation is inevitable.
Hence : a campaign to push some idea into politicians heads (you dont need intelligence but common denominator charisma to be elected)
that you don't tax a transport company 60% of its trucks and you dont cut half a cow from a farmer when he trades it for a horse, but you charge them on the income they have at the end of the year
in dollar
that would be useful ... spam your local MEP or congressman :p
Free speech is either absolutely free or it is not at all. It was meant to be free for everybody : how can anyone grow up in a nanny state?
You are correct. crypto price at present is driven by news. It's pure confidence.
We have a way to go. I think the most helpful historic indicators are from the dot com bubble and eventual emergence of a few huge companies like Amazon, Facebook etc..
Net neutrality is a must for any of this to work....