My take:  Bitcoin market dominance to +9000% and shitcoin % to -infinity? Ok I'm in, lol. |
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When I had first come to crypto in early 2017 I participated in the ETH buzz along with other coin pumps. It was views such as yours, JJG's, and many others here that encouraged me to see them for what they were and eventually led me entirely away from the shitcoin buzz never to look back. Feeling rather lucky for that education today. Thanks a lot!
Glad I could help. I too at one point thought that having another coin/blockchain with a differing algo than Bitcoin's could be beneficial. But then I started to realize that at it's core, all people fundamentally care about is a cryptocurrency's ability to be : 1. Secure and scalable 2. Open source, decentralized mining and voluntary core devs 2. Be scarce and deflationary 3. Store of Value 4. Permissionless transfer of value 5. Exchange for fiat (if necessary), high liquidity 6. Popular with merchants and exchanges 7. Buy goods and services with it That's it. You can distill 99.99% of peoples wishes for a crypto into that simple, straightforward list. Any other usefulness beyond that list is inconsequential and wouldn't be missed in the world, at all. Anyone that says otherwise is being disingenuous and head-in-the-clouds. So seen through that lense, is there any real NEED for any crypto other than Bitcoin? The answer is a resounding "NO". |
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Oh boy they do
For sure they can. But why now? The two year pump is over, the hype is over, and they know the mETH heads will double down even in bear market. I watched it happen to LTC when it went from $48/ltc all the way down to $1.20/ltc. The diehards were calling bottoms and still buying all the way down. Then they completely vanished when it bottomed out. Even the original litcoin forum got hacked and went offline. The truth is, none of the shitcoins have demonstrated any real world use cases. So they have zero value to justify their trading prices. None. It's all pure hype and speculation that is unwarranted. That is why many of them will fall to near nothing. |
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Maybe I'm not right, but I don't think that this is the real reason of this dump.
I think the real reason is unsuccessful ICOs which feel lack of money and sells everything they raised to ensure a continuation of their work
The real reason is that whale traders loaded up on ETH when no one wanted it or cared. First by the tens of thousands at $0.50/ETC each. Then loaded up again at $18/ETC for several months (during the whole DAO bug fiasco). You don't think they have plenty of ammo to dump/short ETH into the ground even at the current price? Or just trade for more BTC at this point? Oh boy they do. They can keep this going for quite a while until ETH is back at $18 or lower. The very definition of a massive, coordinated PnD scam. |
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The main selling point of ETH: gone. The only ''unstoppable'' Dapp is that $100k+ cryptokitty  You know it's pretty telling when Vitalik and some of his followers spend a whole Twitter thread pondering if ETH even *has* a valid real world use case. Definitely no SoV use case like Bitcoin. https://twitter.com/VitalikButerin/status/1039534193263296512 |
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Hey, it sounds depressing to compare bitcoin to the dot.com bubble. Just saying.
I don't think blockchain has reached the level of ubiquity and mass fomo dot.com reached during that time. No(fucking)where near that level... yet.
While there are some similarities, you have to admit that people who bought Apple and Amazon stock in the 1990s and held are doing well now. Heck, I remember the days of Darwin, when we used to talk about the R value of Apple stock (the insulation value of the stock certificates when crumpled up and stuffed in your walls) as well as the BTU values of Microsoft stock (how much heat it gives when you burn it). Still funny today. I remember this time period like it was yesterday. Still have a pristine Quadra 700, two Quadra 840AVs, and and IIci sitting in my basement. I don't know why I held on to them. I even have two like new Newton Messagepad 2100s that have wireless cards. Still work great, fun for a laugh. Now all the vintage computer collectors think I am seriously cool. |
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16 Bitcoin Price Predictions from "Industry Experts"1.Gavriel Shaw, CMO at Bitcoin.com:
As a hobbyist trader and self-proclaimed market psychologist, my best guess at the bitcoin price by January is ‘way up’ due to strong market forces and price chart patterns. A break-out appears to be imminent and it will be a very strong bull run. By Jan 1st… BTC at $10,500 and BCH at $1,500.
2.Khaled Khorshid, Co-Founder at Treon ICO:
In my view, we did not see BTC getting dumped nor have we seen it brake it’s crucial resistance points since August 15. I believe, if the SEC approves the BTC ETF by late September, we’ll see the price rally reaching its all-time of high of around $20K before the end of 2018.
3.Alexander V. van Dijl, Financial expert:
At the beginning of this year I predicted a bitcoin value of 150.000. While that seems like a lot today, I believe some firm price movements will take place in the (very) near future. Something big will happen, perhaps a large retailer will accept bitcoin, perhaps adult advertising will accept bitcoin as payment. Something big will happen that will cause the price to skyrocket again. 150.000 is my prediction for January 1st.
4.Ronald Shi, Head Trader/Analyst at Virtuse Exchange:
Bitcoin is often called “digital gold” and we often find a resemblance between the two. The volatility and price action of bitcoin today resembles the same price movement of gold prices in the 1980s. We believe that Bitcoin prices are in its late bear phase and if a Bitcoin ETF being approved by the SEC before October, bitcoin sentiments will turn and creep back to the $10,000-$12,000 range.
5.Luke Lombe, Head of Blockchain at PlayChip:
We’ve been in a strong bearish trend for all of 2018. Institutional money has been accumulating during the lows and I expect some positive developments on the ETF front within the next 6–9 months. If we can break the back of this bear run and push past US$8500, by January 2019 Bitcoin should be around double where we are now = US$12600.
6.Eric Brown, Founder and CEO of Aliant Payment Systems:
My Bitcoin price prediction for 1 January 2019 is $23,000.We were practically at this price once, and we know what it takes to get it back there. We are very much in the infancy of this type of currency, and as technology grows, so does the value of the currency. The future is technology and Bitcoin is the currency of that technology.
7.Hans Battle, Co-Founder and CFO of Incremint:
$10,000 — “After a period of obvious, frenzied speculation, we’re now seeing a pickup in requests for our escrow services in bitcoin for actual commercial applications. This will provide a floor in underpinning bitcoin’s value
8.Sam Russell, Co-Founder / EVP Strategy and Innovation at WORBLI:
If the fundamentals on Bitcoin positively change in September with the upcoming proposals for an ETF approval by the SEC, we can expect buying pressure to increase pushing price up to previous market structure highs of $11,400 testing resistance in that area. Should that happen, Bitcoin would effectively change in trend. My guess — 17,000 USD.
9.PK Banks, Co-Founder at CBlocks:
Using a very conservative and reasonable framework, it’s easy to see that bitcoin is currently undervalued, relative to its historical average. Bitcoin typically trades in a range of about 1.30 to 1.75 times its 200-day moving average (200 DMA). 9,420 within the next 4–5 months is easy to achieve, when bitcoin mean-reverts to a 1.25–1.40 200 DMA.
10.Collins Brown, Co-Founder at Market Protocol:
$14,000 BTC/USD. Bitcoin has shown a tremendous amount of resilience relative to the rest of the market as prices have declined. As we continue to work through this bear market, sentiment will eventually turn and BTC will be the largest benefactor over a short time horizon.
11.Kyle Fournier, Crypto Analyst at CryptoManiaks:
On January 1st, 2019, I expect the price of Bitcoin to be about $10,000.
Bitcoin and the crypto market go through clear cycles of bull markets followed by bear markets. Vitalik Buterin, the creator of Ethereum, tweeted on July 31 of this year saying that we’re at the tail end of this crypto bubble. Bitcoin will soon start to gradually climb back up.
12.James Stefurak, Founder at Monarch Research:
Our year-end bitcoin target is $7700. Two main sources for this demand-
1) Tariff tensions increase the need for faster executions for import-export businesses
2) inevitable approval for a bitcoin ETF, probably within twelve months.
13.Kyle Asman, Co-Founder at BX3 Capital
I believe Bitcoin will hit $24,500 by the 1st of the year. When the Bitcoin ETF gains approval toward the end of September, Bitcoin should be around $7,000 and will see an increase of about 350% like the gold ETF did when it gained approval. The price of Bitcoin will continue to move higher throughout 2019.
14.Sam Olmsted, Consultant for Pelicoin:
At the beginning of 2019, Bitcoin is expected to hover right above $10,000 per coin. As global currency markets like that of Venezuela see hyperinflation, confidence in Bitcoin and other cryptocurrencies will increase and raise prices.
15.David Hanson, Co-CEO of gaming distribution platform Ultra
I believe bitcoin will see a slight price recovery, rising to $8,500 by January 2019.
Following the SEC’s rejection of the Winklevoss ETF last month, the price of bitcoin and other cryptocurrencies fell, however the effects of that will not be long-lasting. Similarly, I believe that the SEC will reject all ETFs for the rest of the year, but this will not cause the price of bitcoin to crash.
In fact, it will be beneficial to investors and encourage them to revert to the fundamentals and think long-term, as opposed to speculating in the short-term.
After bottoming out at $5,400, bitcoin will go sideways for a few months before recovering slowly and climbing back to $8,500.
16.Danny Scott, CEO and Co-Founder at CoinCorner:
Based on our existing data combined with industry trends, we predict the price of Bitcoin will level around $15,000 by 1st January 2019. We take this view as the industry is growing at a healthy rate, with the retail market developing steadily and considerable new interest from high net worth individuals and institutions being recorded. The media always trots out the "Bitcoin experts" during and right after a blow off top to predict when a new bull trend will start. Saw the same thing in 2014. Since they are almost always wrong, I'm starting to believe that many of these so called "Bitcoin experts" are being paid to shill for Bitcoin by the whales. 'Cause whales want you to buy Bitcoin during a downtrend. Never during an uptrend (except near the next blow off top). |
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How did Bitmex supplant Bitfinex as the latest and greatest exchange scam dujour?
I can't keep up.
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All I know:... bitcorn is a trillion times better than Amazon
Umm, Wat? Apples and Hammers. Yep. One is massively over valued and being subsidized by the U.S. govt and CBs in exchange for spying on users and selling their private data... The other one is... er, ok I got nothing  |
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Are they deifying him or trying to stab him Julius Caesar style? "Et tu, Brute?"  |
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<lots of worthless looking books>
I've read only four.
four more than me.... A few on that list are good: Outliers Rich Dad Poor Dad The Power of Now The Subtle Art of Not Giving a Fk ... but the rest are shit |
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Let's see.... traders sold in May and went away, market went flat.... ...now they're back from summer break... and market is moving again... ... and no one can see the correlation. Hmmm. |
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