I have heard a lot of people crying that cryptos will die or go to zero one day,
But I don't believe them. Ask your self this simple question? Why is that big institutions are investing millions of dollars in cryptos?
Cryptos is a long term investment, Just take a moment and think about cryptos in five years time to come?
I want to hear from the community members, What actually Gives you confidence about cryptos at the moment?
Share your thoughts so that we can motivate other members.
It's not cryptocurrencies that bring me confidence, but the innovation behind the cryptocurrency which I think speaks for it self. I think blockchain is an excellent solution to age old problems, that not only we face financially, but as a society. The blockchain makes ledgers publicly accessible and transparent. Everything upon the chain is uniquely recorded for the record. I personally see my investment being in the blockchain, not cryptocurrencies themselves. Just my two cents. |
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From what I have seen so far in this forum and other crypto platforms, most of us want fiat eliminated. But let us not forget that there are still situations whereby we can't use crypto except fiat like in rural places without computers or even internet facilities.
Quite right my friend! Regardless of the trouble people say it causes, there are some scenarios where physical fiat money is the only option. The sad truth is that not everyone is fully connected yet. There are now more people than ever before with access to a smart cellular phone. There are even more who now have access to a basic mobile phone device. To eliminate fiat completely would be a complete disaster. A first world country may indeed be the first to have a cashless society, somewhere in the distant future maybe. As of now, not so much. Fiat isn't going anywhere, anytime soon. One day in the future, once everyone in society is properly educated and rightfully equipped, then maybe fiat will be discarded and digital cryptocurrency will be the replacement. Maybe... Let's not forget about the mom and pop stores who haven't made it into the digital age yet, which to them crypto may be likened to something out of Star Trek. What about the street vendors, or the ordinary Joe's who just want a cup of joe before work? I don't think crypto fits their forte, at least not in it's current form. It would need to be more "User Friendly". |
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The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
Seems like pretty good reasons to me why they don't trust it. We should also consider that this technology is a real disruptor to the current economic industry. Cypto is beginning to be considered what some might call, "dare I say", "dangerous!" Crypto really throws a wrench into the plans of modern day finance. However, it is quite a useful technology that many seem to be adopting slowly over time. |
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Well, you are certainly right about the predictability being one of the main reasons. Another may be that if it isn't being used by the mainstream public, like celebrities, entertainment, media, etc, people won't tend to care much for it. It wouldn't be until national attention is brought to it, that it will ever be freely accepted.
Then again, there are those who are technically illiterate, who may never hope to use such sophisticated technology, at least until a "User Friendly" version becomes the standard. Though it may seem simple enough to understand crypto by the members within this community, luddites on the other hand, will always stray away from innovation. There will always be People who simple may not trust the technology.
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Yes, if anything, this only reassures us the stance Bitcoins taking upon gaining worldly exposure, being that it has made it's way seemingly into pop culture. Though, Im not sure whether this mention is either good news, or perhaps bad news for cryptocurrencies  Was it an outright bash against Bitcoin, or possibly an analogy to the recent change in economic "times", like the way we communicate and transact with fiat?
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Maybe someone will start a crypto university oneday, possibly a decentralized platform to learn about blockchain technology and Bitcoin protocol. I think lack of knowledge is the reason that many people don't gravitate towards cryptocurrency. Many see it as a risky investment, based upon its volatility.
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We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized
The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government
But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?
Decentralization is the next step in the digital age we're in. We live in times where, privacy is coming to an end (whether you believe it or not). The more sophisticated the technology, the less privacy we will have. Of course, if you trade your freedom for security, you will end up with neither. I think ye ole Thomas Jefferson (rest in peace) mentioned something to this effect. Forgive me If I have misquoted him. Decentralization is needed, but only to a certain degree, to much will cause anarchy, to little is considered tyranny. |
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How long time will take the markets go high ? What are your ideas about market cycle ?
This market getting worse day by day so what should I do for it? Should I wait for more time?
I think it will take a bunch of regulatory guidance to see the market slump dissipate. If the Bitcoin ETF would have been accepted, the good news alone would have caused a decent uptrend, how much exactly, I don't know. The world would have to announce a complete acceptance of cryptocurrencies by tommorow, if you ever want to see the price reach $19,000 anytime soon. In other words, there is no choice but to wait, unless your impulse is to short your shares. Just my two cents. |
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I think that many who have not used the "drawdown" of the cryptocurrency market and have not invested in it, will regret it when the market starts to grow again by the end of the year! I think that the current dynamics of the market, when it significantly "sags" from the beginning of the year in relation to the January highs, does not stand out from a number of conventional cyclical phenomena. I see that the cryptocurrency market is cyclical, and, despite the current decline in the market relative to January, if you look in relation to last year, we see the growth of the market! And what do you think, you too, as I see the prospects in the development of the crypto-currency market or think it is a collapse?
I agree with your sentiments regarding would-be investors missing out on a solid opportunity to share in on the innovation. However, your analysis of the market is acurate but a bit short sided, you're spot on with noticing that there is a cyclical trend, but you seem to stop halfway at arriving to the cause of these trends. The cyclical trends will change, because the factors that are causing them, themselves are starting to change. In a market that is so easily manipulated, it will soon see itself, self correcting. This year, regulators have their eyes set on the market and they won't stop until the market is safe, stable and regulated. The bubble is popping, the $19,000 inflated high was too good to be true and was bound to topple. It was way too soon, especially in an unregulated market, I am surprised it ever made it that high before crashing. |
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I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.
Well, they sold today at at the dip near the $4000 double bottom.
The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.
If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.
It's a relatively new market, that hasn't even been regulated yet. Generally speaking, unless you understand the innovation, or were here since the beginning, chances are you wouldn't understand Bitcoins true worth, regardless of being a casual investor or veteran. If you don't have a clue, Bitcoin becomes just another get rich quick scheme some are looming to cash out on. Casuals are a necessary evil, because without curiosity, there would never be any real growth. The name of the game is supply and demand my friend and she takes no prisoners. |
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The regulations will happen, it was never a matter of "if", but "when". The market isn't necessarily a black one, but it's not necessarily an official one either. This is where regulators come in. Hopefully, without impeding innovation, a compromise will be made between parliament and crypto, one that guides investors safely without being too overbearing.
I think blockchain is the future, it is in high demand. Of the market is to ever be a fair one, without major price manipulation, then some bit of regulation is neccessary. Think about how a vaccine works, they usually put a little bit of the ailment into it, in which they seek to cure. When injected, the body adapts and forms natural antibodies to the disease.
A little bit of regulation is good for the entire body of the crypto scene. We need just enough to build up a strong compliant foundation, because too little of it will result in chaos and too much of it will result in anarchy.
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not because i think dumps are over, they are still going on. but i say this because now after about 8 months people have finally accepted the fact that the altcoins are getting dumped.
so far, for instance a month ago, if you asked them "is this the bottom" then they would have said yes, and expected the price to rise up soon to the moon,... then they got dumped on while bag holding.
but now that they have accepted the inevitable the dumps can go on more smoothly and we can reach the bottoms so much faster because bag holders are letting go of their bags now.
and we all know that in order to rise back up price needs to hit the bottom first.
Yes, the market is recovering, the price is stabilizing and self corrections are being made every week. We've really come a long way here in the crypto scene. Things may look bright for cryptocurrencies future, as many speculaters who joined the party late, still seem to be interested, despite whatever bad news Bitcoin has been facing as of late. The say the road to recovery is often a long one! |
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Coinbase tries hard to convert bitcoin into a central currency and then has control over it "Bitcoin Central Bank."  After the possibility of using Bitcoin to buy gifts[1], now comes this system, I would like to quote this parts The patent cites the issue of customers being required to compromise on the security of their own private keys
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The system allows for administrators to freeze all processes using what is described as “freeze logic,” presumably in the event that a user reports that they are being hacked or their identity is being assumed In short, the new system is similar to its trading platforms, perhaps the new system is preferred by governments. [1] wegift coinbase giftcards Companies like coinbase are neccessary for Bitcoins growth and adoption. Even though it's a contradictory point from the original idea Satoshi proposed, if you like seeing the price rise ever more, this is the only viable option. Exchanges like Coinbase are in fact centralized, without some centralization, the foundation would completely crumble. Order without freedom is tyranny and vice-versa, freedom without oder is anarchy. The problem was never about centralization, just a complicated struggle for balance. |
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Many European ICOs recently that I saw, they all state in their ToS that the US citizens can't participate. Why?
Disclaimer: "I am not a financial advisor or legal professional. I'm present here posting only to state my opinion. Please seek a professional in your jurisdiction for any financial or legal advice." Simple, the U.S has agencies within place to protect their citizens wellbeing from fraudulence and other thievery. The United States SEC (Securities & Exchange Commission) has tough policies in place that make offering of securities illegal, unless registered and successful approved with their agency first. ICO'S who offer tokens as utility, are usually deemed as securities because the token may offer a dividend or other incentives with the promise of profit. This domain of security falls within the realm of the SEC. In order to avoid a tiring legal battle with the U.S, other countries wherein the ICO'S are held consult with their legal teams to design disclaimers for would be investors whom are looking to invest in their company, dissuading them from participating. |
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Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?
An exact answer cannot be reached for this question. A countries laws, policies, regulations, etc, are subjective, being withheld within a countries jurisdiction. Each countries rules will of course vary. However, small countries are usually molded after bigger countries and for the case with most countries, the U.S is usually the leader in terms of decision making. So naturally, other countries may use a format similar to the U.S, or perhaps await there decision upon a troubling matter such as this. |
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Hello everyone!
I am talking to quite a few people who are investing in crypto and notice that very few have a broader investment spectrum. People either focus on ICOs, some small caps, others play it safe and stick with the high caps or established projects.
But hold on, is the later really playing save? In my view, even with high caps you will still be massively exposed as you have all of your eggs in one basket. Namely in the same market. Different eggs in size and colour but all eggs. If the basket falls, your eggs still get crushed.
As mentioned before, I am trading stocks for over a decade and crypto since last year. I also agree that is easier to trade stocks, simply because the volume is so high that a few whales or big investors cannot influence the market as easily by dumping their shares. The stock market is also much more regulated, if someone is being caught doing washtrading or spoofing the consequences are dramatic. In the crypto world manipulation is something that poses a constant threat. Just look at the market now, the recent dip is not tight to any event, news or even fud. 25 billion just disappeared and people are wondering wht‘s going on.
Long story short, it‘s great you have a diversification plan but also think about moving assets from crypto to fiat, stocks or raw materials and precious metals.
What is your view on that?
This is a very ignorant post. You automatically assume that everyone on this board comes from a financial viable backround. Not everyone here is from first world countries. The crypto community is a very diverse community, being made up from people around the farthest reaches of the globe. Crypto is all that some people have to look forward to. It brings a somewhat decentralized structure that opens the gates that were previously closed to many, who have little to almost no access to other forms of investments. Many platforms for investment have a high bar/threshhold set in place that many can't reach, do to lack of income. This is what makes crypto unique and somewhat universal. It gives the poor somewhat of a fighting chance, even if it's a small chance. Many are from poor foreign 2nd and 3rd world countries, who feel blessed to even have the opportunity to earn in this community. For some, this is the only basket of eggs available. Before they didn't even have a basket to put there eggs in. This isn't an attack on your character brother, I am just saying, there's more to the story than meets the eye. |
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No need to panic and point fingers at each other. Its neither the newbies or the HODL'ers making the market crash. The market is crashing because of the self corrections. There is a pretty good chance the price will never reach $20,000 again this year. If it does, it wouldn't be organic. |
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Anyone whom was involved with Bitcoin before its timely mainstream adoption, who held on to their stakes for life, is most likely a crypto millionaire, or quite close. I remember when Mt. Gox was one of the only main exchanges, I knew of Bitcoin then, but failed to see the innovation, as I thought it was just another alternative to E-gold, it was probably around $1 a coin then, if I'm not mistaken. The Next thing I knew, it would rise like a Phoenix from the ashes. By the time I wanted to get in on the trend, I was a day late and a dollar short. |
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the dominance level of bitcoin was close around 55%,
wrong! "dominance" of bitcoin is still up there near 100% as it has always been for years and that has not changed that much. maybe it dropped to 95% at some point but it is still up there. what you are quoting is not "dominance" it is market cap share which is meaningless and only coinmarketcap.com calls it falsely "dominance". It simply means more people are getting their money away from altcoins and moving them to BTC for multiple possible reasons.
wrong again. traders aren't going to pull their trading funds out of the altcoin market just because they are getting dumped. traders know well enough how to make money in that market from the pump and dumps and their funds will remain active there. the reason why the market cap share of bitcoin is increasing is the same reason why it was decreasing. because altcoins market cap is fake and easy to rise so also easy to drop. when a coin has 100 million coins in fake circulation and its price goes up $1 its market cap goes up 100 million. but when bitcoin price goes up $1 its market cap only increases ~$17 million. for instance when ETH got dumped another $100 down to $300 range it simply lost $10,125,000,000 ($10 billion) market cap in a blinking of an eye. same with XRP. a $0.2 dump meant it lost $8 billion market cap. this is how fake market cap is! and this is why it shouldn't even be used in first place to compare them. correct, my sentiments exact. The over inflated market prices of altcoins are beginning to finally deflate with the current downtrend we've been experiencing these last couple of months. It may also be the reason that an ETF may not be approved any time soon. The market is wildly unregulated and subject to heavy manipulation. Imagine if satoshi actually wasn't altruistic and decided to cashout? |
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Nvidia abnoicned absolutely dismal sales related to crypto chip sales today after market close. This is another sign to me that the bear market is not reversing any time soon. Bitcoin is in a sustained decline, and I view the culprit as the stupidity and hype that sent it to $19,000 in the first place. It was unsustainable and it has now very much poisoned mentality as crypto continues to fail to prove a suitable replacement to digital fiat and traditional centralized payment processors.
Specifics on Nvidia's release:
Last quarter, they posted $289m in crypto-related alchip sales, which is really a small percentage of their overall revenue. Despite that, they projected sales of only $100m this quarter, which at the time they made the prediction sent their shares down (despite it representing such a small portion of revenue). Today, they reported only $18m in crypto-related chip sales. Shares are now getting whacked in after-hours trading, which frankly messes no sense because they beat expectations on over all revenue and profit. Just shows that the idiotic crypto mentality has creeped into traditional investing.
I think you nailed it! This period feels like one of self correction. I personally think that the $19,000 mark was highly inflated. This was before the worlds governments started issuing heavy regulatory policies regarding crypto. The SEC had put their engine into high gear this year also. The more the regulators issue their statements, the more I think the price will self correct, especially with the potential of an ETF approval before the end of the year. |
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