According to Binance, there was no raid. It's debatable if they even have a Shanghai office.

It's also kind of moot ... market overreacted to China making a positive blockchain announcement previously. Then backtracked when it became clear that China was referring to just the blockchain, not specific crypto projects.

It came across as simply a way for whales to temporarily manipulate the market to me. News which shouldn't have made a difference = 3K hike. So when it became clear that folks were misreading China's intentions, 3K retrace. And of course alts get smushed both times.

Low volume doesn't mean a token or coin is bad from a technical standpoint. Or even from a developer or real-world use (in theory) standpoint. However it typically means nobody cares about the thing, and it's kind of risky to use it for speculation as there isn't much of a market for it. Also depends on how low volume is defined... if it's 100-500K/daily, that's still okay-ish... if we are talking about $100/daily, that's problematic.

And yeah, high volume doesn't mean a bad coin is automatically good either. Problem of course is that so much volume is faked to begin with. There are a number of coins where I had to do a double-take on volume, wondering how such a low ranked coin (and a coin nobody has heard of before) was pulling in some insane volume numbers. Then I checked the exchanges... usually such coins aren't on a top exchange... more like exchanges it's wise to purposely avoid. It's clear in those situations that volume is fake or all wash trading.

Typically BTC dominance results in the alt-btc ratio going down, but the alts still increasing in fiat value. However usually that fiat increase is less than whatever btc has increased by. So it's sort of profitable, just not as profitable as holding BTC.

Of course there are exceptions, like 17/18, when alts outpaced BTC. Or when coins do their own rise, such as ETH did years ago.

Over the summer we kind of saw what you referenced though. Alts decreased in both their btc ratio as well as fiat, which was a little odd. Actually alts crashed regardless of which way btc moved, up or down, alts went down in both fiat (not that odd) and their btc ratio (which was a little odd). Perhaps the latter was related to ETH doing poorly, sometimes if ETH does well, alts follow suit.

A logical real world use for Dash is as a currency in 3rd world countries suffering from hyperinflation. But... I expect many simply use BTC instead, as it's more popular. Quite often we see coins tout how they can be used as a currency, but they don't mention the fact that BTC can be used as well. Or LTC, or sometimes half a dozen coins. For Dash to catch on, it'd need to be the only coin merchants accept.


But besides all of that, wouldn't a stablecoin make the most sense to use as a currency? Dash/BTC may be less volatile than fiat in some countries (as hard as that is to believe), but Dash has lost like 95% of its value. Who wants to use a crypto that can tank so badly as a currency?

I don't mean this as a knock on Dash, as the entire market is down. Just wondering aloud as to real world usage -- crypto is meant to be used as a currency (or for many coins that is their purpose). But volatility sort of destroys that purpose, so considering that, what is the real point to the coin besides speculation?

Although these sorts of numbers are useful in regard to decentralization (or lack thereof), it gets tricky when we say such and such coin is owned by whales by a certain percentage. Unless somehow they can differentiate between exchanges and holders, there isn't an easy way to know how many addresses own exactly how many coins. Sometimes a couple of big exchanges will hold an inordinate amount of a coin (especially for smaller alts). But that doesn't mean it's just one giant whale, could be hundreds or thousands of smaller holders who just idiotically keep their coin sitting in an exchange.

I wouldn't really worry about the price of ETH unless it falls significantly in relation to the price of other alts. Such as ETH drops to number 5-10, while tons of other alts zoom ahead. And based on this market, that seems extremely unlikely to happen even in a pump/dump scenario.

I don't keep track of their telegram channel, but did notice they posted something on twitter a couple of weeks ago. So had hoped they were sorta, kinda, still around.

I see no reason why they couldn't get the coin on another dinky exchange or two. Crex, or yobit, or something like that. They are lousy exchanges, but at least they may be exchanges folks sometimes use.

If you consider this a booming market, I'd hate to see what you consider a bear market.

As for 2020, BTC would be the logical choice for top crypto due to the halvening, but who knows really. Perhaps the big coin next year hasn't even been released yet.

That's pretty much it. Nobody can say what coins will provide 2x in a year. Some coins may do better than that, some worse... a lot worse. And as you mentioned, that can happen in a week. Or occasionally in a single afternoon.

For example, Doge typically does the 2x thing at least once a year or so, but that requires knowing where the bottom is. Get in at 20, sell at 40, sounds great. Until you discover the bottom was actually 10 and it instead peaked at 20. Many coins are like that, plenty can do the 2x thing but you need to be psychic to determine where the buy-in point is. Guess wrong and even if the coin spikes 2x, you may still be at a loss.

Are the devs for this coin still around at all?

Curious if they plan to get the coin on any other exchanges? Ideally not a dinky exchange that requires KYC just so folks could buy/sell like $20 worth of coin. There are plenty of dinky exchanges that don't require KYC... if going dinky, at least go with a bad exchange that is easy to use.

The problem is although bitcoin was created with the intention of being a currency, it really hasn't worked out that way so far. And the issue isn't just adoption, or speed of transactions, or fees (which are still pretty big hurdles). It's volatility.

Do you really think an everyday person not involved in crypto (or even those most who are), will use btc in the same way they use fiat? Ever?

Unless BTC hits a certain level and stays there for years, with huge money backing it to prop up the price, I don't see it ever occurring. Nobody wants to buy a TV at 1K then find out 2 months later that same amount of btc is now worth 5K... or a year later is 20K.

As for stablecoins, I agree that they weren't designed to be used as an everyday currency for purchasing goods. However, in theory, they would be very well suited for that task IF the SEC allows it, fees are less than what credit cards charge companies and transaction speed is at least in the same ballpark as credit cards. Lots of IFs, but it's one of the real ways crypto could hit mainstream.  We could argue however that at that point, such a coin may not even be considered a real cryptocurrency, or at least not a decentralized one, as I expect it'd have to be centralized somewhere to maintain its price.

 Complete decentralization is a myth. However 'good enough' decentralization is probably closer to reality. At least for BTC and some coins. For smaller cap coins decentralization may be a myth however, as the rich would centralize ownership of POS coins, while the poor would only be a small fraction. Just the way it is.

Odd choice. I can't speak of the coin, as until now I never even heard of it before. As with most new listings, I am skeptical in regard to the merits of the coin itself ... I tend to think it has more due to volume.
No clue how much is real and how much is wash, but I'm seeing: $264,589,013 USD. That's not too shabby.

Binance is probably looking at fees there... so profitable for them to list.

Stablecoins could in theory lead to crypto adoption, but there are some big IFs. First, what does the SEC think about it? Secondly the fees need to be less than credit cards/paypal, as otherwise why wouldn't the company just be better off using fiat?

But if those two things (especially the SEC) can be worked out, then yeah, I think stablecoins make the most sense in regard to both company and user adoption. Also makes the most sense for 3rd world countries w/ hyperinflation.

The bounty/KYC situation is nonsensical. If a bounty campaign wants KYC, I simply forget about it. I was referring more to exchanges, which in itself is pretty terrible ... especially for the smaller exchanges. I'm not sending my license/photo and personal information to a smaller exchange in some little country somewhere, the risk is simply too great. I'm not even fond of sending it to a large exchange, but there the risk/reward situation leans towards reward. But as things are now, we are supposed to send that info to each and every exchange too -- there it seems they could streamline the process and make things safer.

As for bounties requiring KYC, there really isn't a solution. Well, besides simply ignoring them, that is. I see little point in even bothering for bounties/airdrops, most are lucky to pay out anything at all.

What I don't understand is why a bounty or airdrop would even require KYC. There is no risk of money laundering, as no funds are exchanging hands. If it's a tax situation, it's equivalent to the govt worrying about a $5 bounty ... it'd be like requiring tons of forms to fill out, passport, personal info, for a free t-shirt giveaway somewhere or when McDonalds gives away a free burger. So beats me why bounties feel a need for KYC unless they want that info because they think it'll also mean folks will invest in their ICO/IEO. Or they want that info to resell it.

Personally I think the KYC situation is pretty ridiculous. I understand the reasoning for it, but the idea that everyone involved in crypto needs to provide a ton of personal information to every exchange, every bounty, every single time they want to do anything with crypto, is too big a risk.

What should be done is some sort of KYC standardization and communication between exchanges or some central authority. Such as if you pass KYC at Coinbase, Gemini, Binance (or whatever large exchange), you are done. Do it once, at a single exchange and you pass KYC for all of them... no need to send your license/passport to every other exchange too nor do they get that info, just a confirmation that the person passed KYC. Minimizes risk at least somewhat.

I'm not sure it's even possible to avoid FOMO... it's just part of the game. The trick is figuring out how far along a pump is. For instance, those who had FOMO issues when BTC was on its previous run in 2017, saw it go from 1K to 5K and panicked and invested more than they should, did quite well so long as they sold at 20K. It's all about determining where the tops and bottoms are.

And of course that's close to impossible to do, but if you get semi-close, you'll be fine. A better way to phrase things is not to fall into the FOMO trap during a ridiculous situation, like a coin just increased 20x ... that's probably not the ideal time to make your entry point. It's useful to track where a coin pumped from, what the low point was, and then you know where whales gobbled up coins and how much profit they are making. If it's some insane amount, walk away. If it's early days still, it's something to consider (still no sure thing, but at least you have a fighting chance).

As others have stated, doge is a decent coin if you want to ride the waves... and know when to get in and out. I'm not so sure I'd call this 'investing' however. I wouldn't suggest anyone put a large amount into doge and plan on sitting on it ... expecting it to outpace btc longterm. But if anyone wants to throw a small amount into it, and sell during one of its pumps, that's fine. Problem of course is determining where the buy-in and sell points are...

The problem with BAT is the KYC requirement. I can't see it catching on with the general public if that KYC requirement remains in effect. Now crypto folks may be used to KYC (although I expect many still hate it), but everyday folks aren't going to hand over their license/passport + personal info for like $5-10 worth of crypto. The only ones who might are in 3rd world countries, but the rewards strangely vary by country ... so those who might actually be interested probably can't get the rewards in the first place.

They also have the problem that if they do happen to manage to get a larger userbase outside of crypto circles, it'd cause some pretty heavy selling pressure. They'd have to convince the everyday person to hold their BAT, not sell it immediately. Not impossible, but it's kind of like a double-edged sword situation.

I'm not an artist (not a surprise to anyone seeing this submission), but figured I'd try my hand at it. Here is what Poser and someone with no artistic talent can throw together:




bc1qp639cpcmrchpyldwnwtfjvn9rhkhhq9w5efxk8