Bitcoin Forum

This is obviously a bear market now.... Guess we just should go save up for purchase after months :-X

Way too early for a bear-market. This is all a slight healty pullback.

Well before bear, all market goes to hype normally, which is observable for coins like ltc dash xmr.
This is a bear, if not how many percent drop would it be a bear? I would not invest in any single high market cap coin now

Just know - while you are going to work, other people will be putting themselves in a position to get rich and secure their financial future by investing in cheap gems during this "bear market" you speak of  ;)

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Reality struck upon the cryptocrap market. Inflated dreams coming to an end things bleeding slowly to death. 3-5 coins will survive

Coins without real world use will die off, yes. But you're saying most of the coins with real world use, active developers, good communities are just going to die because of a correction? Blockchain tech is the future as well as crypto currency, I don't think it's going anywhere, experts  in finance would agree. The doom and gloom around here during every correction gets old.

Blockchain tech is much hyped up. Blockchain as a buzzword or as a technical implementation is used in order to attract money from every source. In 99% of the cases there is no need to have a blockchain or a tradeable public token in the first place. All that dapp talk for things that really do not need to be decentralized. You can dapp something and pick up 100  million in a week or you can make regular software and beg for money everywhere. Look at the bitcoin uncensored video with the Tezos guy. Sweating like an idiot not being able to come up with 1 single viable usecase....and what was the ICO?? 250 million???

The direction of the market does not shape my thoughts it's the bullshit machine, just like in the dotcom bubble, that surrounds and frames blockchain as the next big revolution that shapes my thoughts about it. It's full of empty promises and fairytail usescases that will never lift of. 99% of the coins are directionless and pointless scams without even having a working usecase that solves a real world problem. Even a fanatic like Vitalik is worried about that. The irrational boom in markets do not validate the legitimacy and useability of a coin or platform, it merely underlines the lack of knowledge and lack of rational thought of the people throwing money at this. Blinded by the bitcoin story, inherently afraid to miss the golden ticket. And sure...I bought all that crap in the beginning. But once you start to educate yourself instead of looking at a graph all day and parot the blockchain profets it becomes clear quite fast what kind of inflated hype this is.

As said. Tulips and madness everywhere.....and a lot of blockchain profets preaching blockchain as a miracle to fill their own pockets. Tulips were useless in the end and so 99% of the coins will be. The ponzi need to be fed new liquidity and the latter is not around the corner. There will also be no mass adoption due to the lack of a usecase for the mass.

That said. It's an ideal time to earn money from people believing all this crap...

Well this kinda sucks i am down 30%.
But, bot planning on selling. I think we will go up.

Just some stupid icos without a product creating a bubble. We put more than a billionaire n dillars in non existent things

Only bitcoin has value as digital gold, established. Others need to prove. There are good concepts thought, just need to prove to consumers/business they can help solve a problem

I am bullish long term. Short term: maybe another 10% down, then we go up.

Yes,
Some stupid icos appeared from nowhere asking for other people money,indeed longterm for bitcoin always bullish.a healthy pullback always happened after long run bullish market,it happened because the pumper need to reload their amunition tp start pump it again.
It will die if noone supporting this or a system itself not active (die).

And many country tried to make a regulation for cryptocurrency,lets hope the best for cryptoworld because we're crypto ancestor lol,
So we can talk to our grandason that we're the one who's helping them to tell the world cryptocurrency is real.

Crypto market is up 600%. OMG WE ARE ALL GENIUSES

Crypt market has 20% pullback

OMG LETS ALL KILL OURSELVES BEAR MARKET

Fucking kek

Hey sorry for intruding . Correct me if i'm wrong , but isn't this market drop actually a good thing ? Isn't this a healthy correction + an opportunity to invest in some coins like real cheap ?

Seriously? It's probably a good sign to stay out. Besides what is cheap when all is still an overhyped and insanely overvalued bubble

i think we are going too to see a bigger bear market,think is just the beginning..

This is a great time to buy. It's only a matter of time before everything shoots back up again.

There is a major correction in the market right now. Crypto market cap dropped from a peak of 115 B to 90 B. Thats 21.7% down. I dont think it will go much lower. It is a great time to buy everyone. :)

Buying cryptos is like buying stocks at the moment:
Buy them and take a long, long peaceful sleep.

Bear market, at the inverse of what you are saying, is the right time to buy devaluated coins and make a nice profit when it will have recovered.

Altcoins have increased their values incredibly strong the first half of this year! This rise was absolutly crazy.
And there's definitely not any fundamentals behind that. Don't make the mistake and think you saw some huge influx of use adoption. That is definitely not the case. Zero!
So yes I agree this could be the beginning of a much longer correction many bears are waiting for.

It's the time to invest in Shift. Thank me later ;)

Nice post! Did you come up with that?
Unfortunately I have to agree with you and some others on this thread.
I think we are going lower. I hate that we are but we are.
Look at Strat. The price action there is a very bad sign.
How am I so sure?
I am involved in crypto again for the first time since 2014.
This guarantees that we are going down, sorry guys.
Laugh if you want but I have been through this many times and I have a real gift for market timing, lol.
It's going to be a slow bleed out.
Look at the LTC chart, I think we are at feb 02 2014 right now.
I think we will break all time highs again, but the year will be 2020.

When people are buying eth for $300 or ltc for $50 and knowing they are going to be rich it's over.
Most people need to be punished and have their money taken, bulls and true believers will ride this thing all the way down as always. Then when it's over and their money is gone a new phoenix will rise from the ashes and we do it all again.

That being said I'm still buying some stuff (tenx) because trading this stuff is fun and hey, you never know right? Plus I'm fine flushing the money i'm playing with down the toilet.
And you are never getting my btc, I'm keeping them no matter what.

Too early to stop working imo.

The way I see it, every dollar i earn is basically doubled by investing in crypto!

Not lately of course but over long term it's dope

Already did  ;D

Why Shift? :D

Oh god...the shills come and plug the next scamcoin.

Only if you invested in the wrong altcoins. The increase in the total market cap for the first six months of this year was incredible, a correction is inevitable. The shyte coin investors won't survive.

Its time to buy

Nice to hear this and I am thinking we are not yet in bearish markets because most coins support level has not been Breaking. We should hope for medium ranging markets in days to come. The cryptocurrency market is still in infancy stage and we need alot of upward movement than down ward movement. Though many traders has become rich through cryptocurrency trading and many has also loses they investment I think the opportunity is great and reward for buy now is very high. Buy! Buy!! And buy now!!!

I respect the opinion of everyone in this thread, they all have their points. But my opinion stands strong - the only people losing money are the people not capitalizing on this opportunity.

True!! Just be careful to conclude (or to imply) that the concept is not really disruptive, because it is.


LOL!!! I can't believe people put that kind of money just because of the name "Tim Drapper", basically that was it. Anyone reading that WP would realize there is lots vague statements and empty promises such as: bitcoin can't scale and ethereum fucked up in dao, therefore tezos is the future because tezos can do all of that. And what about they buying sovereign land if they cap what they capped now, or starting a bank business? I think these parts of their WP passed unnoticed.

On a last note: smart contracts are hyped but their potential is all real.


Not true. DAO is a very desired kind of organization if we consider how many people worldwide are excluded from the economy. Just imagine a world where anyone can have a share in a company, regardless the size or location of it, and receive dividends without any trickery, dilution, etc. That's just one use case.


Agreed. But blocking crowd-sales to happen would be the same as curing a broken finger by chopping off the whole arm. By your own line of reasoning, the fomo surrounding ICOs also do not prove that all companies are bad or that the idea itself is bad (the same way it does not validate the company or the process of crowdfunding.)

Look, this is just a healthy correction.
So many coins pumped 10x = 1000% which is madness
So 30-40% is a normal correction

Yes, agree. If it is bear market, why  u should go to work and not take advantage of d falling market to get double your investment and get rich when bull take over?  It is not wise.

Agreed, but then let's just adjust the 99% shitcoins to 90 or so. And yes I also agree that smart contracts have potential, but imho that potential is way overstated/inflated. The whole DAO thing sounds to me like the new uber & airbnb talks some years ago. The mass will profit. In think capitalism realism will eat and integrate it entirely in such a way that it is still not all inclusive. We had that promise of total inclusiveness several times at the moment of nee technological adaptions.

What kind of comment is that?! It's obviously stated on his rank that he is a newbie. Should you have better knowledge, perhaps you could give much better constructive comments to share or just say nothing.

Because there are some here who actually work and just do trading as part time, and receive their monthly pays in their own currency and pay their bills too. If you quit your job and focus on trading and the altcoins are all in red flags right now then where would they get their money from. A friend once told me if the altcoins would all turn to red on the trading sites, stay out of it and return back after 6months or more. Do long term trading especially if your new to trading, which was what I did. I bought coins which have low value and just left it until now.

Buy low, sell high.....   Don't catch a falling knife unless you're a swing trader....

This bear market, if it's a bear market, won't last long in my opinion. It's a growing market and we will rise again in the long term.
Btw only good project with real usage will survive and those recently overhyped may hurt a lot.

Let's wait and see. Meanwhile i'm enjoying some cheap coin.

Good watch to put things in perspective

https://youtu.be/SMEOKDVXlUo

Yep, and that's where a lot of people will get burned. Pretty sure that only a miniscule amount of projects will even survive the next 2-3 years.

Correct !  ;)

I like how everybody keeps repeating this "only a few projects will survive" without providing any reasoning as to why. Wrong. Most of these projects will survive. At best, what will happen is a huge correction for the "overhyped" projects. But they will not die. This market is way too small right now at $100b market cap and the game has just began.

"only a miniscule amount of projects will even survive" is false. These coins are no longer "cryptocurrencies" but more like "equities", similar to a stock market.

New coins/tokens hit the market daily in big numbers, so while it's true some old ones will die, even more new ones will hit the stage...

There's hundreds if not thousands of coins. Of course a lot will be dying out over time. There are a lot of inexperienced people jumping in with half arsed ideas an no plans on how to properly implement and scale them after all.
That doesn't mean that there won't be many projects left though. There are almost certainly going to be a few dozens of large projects that will be here to stay.

If you dont want to invest in new coins, invest in undervalues older ones, with proven track records and solid ideas.

Theres plenty out there that have very high potential.