People's "trust" in Bitcoin is based on the price and therefore unreliable. If you also take into consideration that people are unreliable themselves when they have money to lose, it's a deadly combination.

Overall, I think that people are never really satisfied.... if they lose they are obviously upset and stressed, but when they profit they are upset too because they blame themselves for not having invested more.

The main problem is that a lot people who entered into crypto haven't had any prior investing/trading experience, so they mess around and lose. Most will lose and leave while the minority profits and continues to stay.

We think similar. In all honesty, I really hope that we don't have to go through this, but looking at the chart and the overall bearish trend confirmation, it makes me believe that we have one big capitulation dump to go through.

People are still too bullish and that concerns me---the sentiment whenever we bottom always has been very toxic where people were expecting much lower lows, and that's something we're missing here.

Remember the sentiment when we hit $31xx? People were speculating about $2k or even sub $1k prices. That's when you know bags are empty and dumb money is planning to buy the dip that they expect will happen, but turns out to not happen.

Whales aren't leaving the market at all, why would they? It's too profitable for them to stick around. Most of the increases and decreases are the result of long or short squeezes on platforms such as Bitfinex and BitMEX.

In Bitcoin we never really had stable growth----pumps and dumps is all we know here. The charts are there for you to look into.... the few months of sideways 'stable' price action are nothing in the grand scheme of things.

That freedom can be severely limited though, especially when governments start to crack down on fiat onramps---if there are no legal fiat onramps, most of the retail and especially institutional capital will not enter.

Instead of pointing out how it would help Bitcoin become more peer to peer because transactions will move underground, think for a second account the ecosystem, the network, development, and so on.

We should be happy that most stable countries haven't gone that far yet, and lets hope they won't ever have to, because I rather see Bitcoin and everything around it grow at current pace in a healthy manner. Much better.

I think that it's safe to say that the far majority of the people here entered into crypto because of the volatility and the money that can be made. Nothing wrong with that. It gives crypto something valuable to attract adoption with.

If there were no bull runs, there wouldn't be as many people here today. I found out about Bitcoin after 2013s bull run and had the luck that I didn't jump in right away, but waited until the price reached below $500 to start buying.

lmao.... had all people know that this would happen, there wouldn't be a market anymore---this market today barely handles a whale exiting a position, so imagine how hard it must have been back then with 10000 times less liquidity.

It's difficult to consider current prices affordable with how we are trending down. Sure, it's more affordable than the price was over $10k, but what if we go to $6k in the coming months? Current "affordable" price will look expensive.

You need a plan before buying Bitcoin, otherwise you will find yourself selling in panic whenever the price starts tanking. I always found dollar cost averaging to be one of the most noob friendly ways of investing in pretty much any asset class.

Historically speaking, dollar cost averaging has always been a profitable practice if you are building up a long term position. I have done the same throughout the years and it worked out extremely well.

I doubt it. It's just one marketing-circus-show where both Ripple and Binance have agreed to a partnership behind the scenes. Nothing wrong with that of course, but I'm quite sure that there won't be much organic volume at all.

All the XRP army cares about is to see institutions adopt it and create massive pools of liquidity for instant settlement of transactions. Time will tell whether or not that will happen, but this partnership is more beneficial to Binance.

Bitcoin has decreased quite a bit, but it took altcoins down with it, and that while people were strongly of believe that the moment Bitcoin's momentum would weaken, altcoins would boom hard but thus far they haven't.

I haven't seen much of an indication that altcoins are going to explode any time soon---the dumb fomo retail money is what made it pop hard and they are still not willing to come back because they are licking their wounds.

I expect Bitcoin to fall deep under the $8k mark in the coming weeks, which I believe will hurt altcoins too. I would rather wait for an altcoin season as confirmation than to jump in right now and lose more value.

They have been running for over 2 years so there must be enough money to be made to still offer this service. I'm sure that the mid to large transactions are easily paying up for what they lose out on with the smaller transactions.

I know a local service that only charges a network fee---the way their business model works is that they profit from price differences on various exchanges, and they pass that benefit to their users for the best value. It might be that coinplaza works similarly.

One is better off using $100 million or whatever greater amount to buy Bitcoin. Buying Bitcoin offers much more potential growth and is extremely liquid, while such domain only appeals to a small number of people.

We're already at a point where a crypto business isn't going to 10x in value, and even if so, that doesn't make the domain itself become worth 10x more. Nothing thus far has beaten the percentage gains of Bitcoin and I doubt that will ever change.

I don't think it's all that bad honestly speaking. I remember a lot of people who were making fun of the panic sellers around $17k, then $15k, then $10k and so on---would they have held they would be slaughtered all the way to $3k.

Those who told people to hodl and actually did so suffered a lot last year. People can say they don't care about a 85% drop, but that's nonsense.... if you could have avoided sitting out an 85% drop you would do it in an instant.

In a nutshell: panic sellers were the winners of 2018 while hodlers were the losers.

While knowing the difference between centralized and decentralized networks, it still doesn't make decentralized networks any more useful because in most cases you don't need censorship resistant payments.

People are too paranoid here---who's going to block your local grocery shopping payments? I have never had any of my local payments blocked. I value convenience, which is something I enjoy with fiat, not with any crypto.

Crypto is overhyped as means of payment. It's a store of value and then it pretty much stops. The legacy banking system improves too---I already enjoy free and instant bank to bank trasfers 24/7/365. Business hours are something of the past

Big investors aren't really that different from the smaller fishes in the sense that they don't touch Bitcoin when it doesn't go up, unless they are trying to accumulate, but they have done that well below current prices already.

Following the technicals, there is not much reason to be bullish, more to be bearish---it was the exact opposite back in April this year when the market broke yearly high after yearly high.

People somehow haven't accepted the bearish sentiment yet, which I think they will when they see the price plummets to lower lows. $6k isn't all that far fetched.... unpopular opinion, but what non bullish opinion isn't unpopular on this forum?

I agree with the point that governments don't want people to enjoy economical freedom, but that's not why they are trying to "shut down" crypto. I even doubt that they have such intentions to begin with.

Nearly the whole crypto market disregards the sole reason of why it exists, so what are governments really afraid of? People still trust centralized parties---parties governments can easily exercise control over. They like it more than they don't.

As for people getting rich during a recession, I really really doubt that---recessions generally take down any asset with it, where the speculative assets are being hit the hardest. Bitcoin is a speculative asset too.

As long as there is risk exposure to volatility, which is a legitimate concern for any party transacting in Bitcoin (directly or indirectly), there will be a centralized service used to hedge that volatility risk.

From a business/charity perspective it's more than understandable because all they are interested in is cold hard fiat money. Bitcoin is just an additional tool providing income they otherwise wouldn't have.

It's a bitter pill to swallow for Bitcoiners, but that's just how things are. I'm sure that it will improve in the future where coins will be held longer or actually spent instead of directly dumped for fiat.

Because they know that they don't stand a single chance for the simple reason that they are launching a security. Or they thought to have found a grey area to exploit and for that reason not need the approval of the SEC.

The SEC for a long time wasn't really that active, but that has definitely changed---the freedom security issuers had is no longer there and a lot projects will be held responsible for that. No way the SEC will let you get away with it.

I'm sure there is bias towards the bigger projects, because on paper it doesn't make economical sense to chase after few million dollar projects when there are a lot projects in the +$50 million category.

People have no clue about what doing research actually is---most of people's "research" consists of looking at what exchanges generate a lot of volume on sites such as Coinmarketcap.

The general logic is that the more volume an exchange generates, the more people are trading there. That used to be the case with high volume exchanges, but in the last year or so high volume is a worthless metric.

Things are horribly wrong with this space when an exchange as Coinbase is ranked 50th.... the faith of people in sites such as Coinmarketcap hinders them in making a rational decision.

People are far gone when they trust on third party research....

It's a good alternative as long as Binance doesn't withdraw its support and market makers. I really wonder what would be left of it would that happen, because all other non supported DEXs lack liquidity and use.

Throughout the last years not much has changed at all when it comes to DEXs gaining popularity---Binance thus far has been the most successful one because of how CZ did the marketing for it and the financial support he provides.

Bingo! I see that happen even here on non crypto marketplace sites. The first sign of trust (people think like that) is to avoid new accounts and only deal with older accounts---resulting in scammer offering big money for these older accounts.

People with older accounts who don't often list anything for sale will likely not reject an offer of a few hundred bucks for their account, especially since they can simply create a new one.

It provides scammers easy access to old accounts. By the time people no longer connect trustworthiness to old accounts, scammers will find other routes to gain people's trust and scam them. They are always a step ahead.

We're hovering just over $8.3k now and I expect further declines over the next couple of days. If people are still bullish with Bitcoin behaving like this, they will be woken up in the most brutal way when we dump to $7k.

Improving fundamentals that bulls tend to point at don't help either---the market has to bottom out, and when the trend has turned bearish, it usually comes with a 50-60% correction from the top at the very least, so buckle up.

Close enough is close enough. I'm sure that even if we hit $9k the reaction would be very similar---wicks don't mean anything as long as we don't see an actual close above important moving averages or resistance levels.