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Blockchain is a good technology which will find many uses.
Cryptocurrencies are just products made using the blockchain technology - products that is failing to get any kind of meaningful traction after the bubble burst
Cryptos need blockchain (they are build from the blockchain)
Blockchain does not need crypto at all. More and more companies are developing and using blockchain solutions which do NOT involve any cryptocurrencies at all.
Fools who believe the blockchain means that cryptos will also succeed are mistaken. They often point to the internet development, but completely misunderstand it. The internet was a good technology with many applications - but many of the products put on the internet during the dot-com bubble also completely collapsed because there was no meaningful business behind it. The strong ones - like for example Amazon - had solid business ideas based on normal people's needs and behaviours.
Cryptos clearly do not match needs and behaviours, and will therefore fail just like the more idiotic things that were put on the internet in the 90's.
The internet of course survived and so will blockchain.
Cryptos will die like many early failed ideas on the internet.
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The large hype and bubble with Bitcoin at the end of 2017 means that everyone with access to a computer - and the skills to use a computer - has already heard of Bitcoin.
This also means that anyone stupid enough to believe the hype already has bought Bitcoin. There simply are not a lot of new fools out there to ever pump the price again
The only hope HODL'ers have is to convince - and teach - the mentally retarded to buy Bitcoin, as there are not more normal fools to buy Bitcoin (they already HODL).
And therefore the pump will never happen
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When I warned everyone that Bitcoin would continue to go down in the beginning of the year, all the fools in here would not believe it.
Every post of warning - which came to be true - was not believed.
Now I see a clear change in this forum with many people now agreeing that Bitcoin is in a bad place and unlikely to recover combined with stories of people who are now realizing that they have lost a lot of money for nothing.
And for the fools out there who say "if you do not sell you have not lost anything" - clearly they must be the most stupid of "investors" in the world. Of course you have lost the money, you just don't have the guts to tell your wife yet
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Read the Bitcoin "investors" in this forum and you always see them say the same: "I believe..."
- I believe Bitcoin will go up
- I believe HODL is good
- I believe we will see adoption
- I believe it will go to the moon
and so and...and so on.... and so on
You have no understanding - only belief
Therefore Bitcoin for many people in here is a religion - it is about belief and not about facts and understanding
And religion is an extremely poor investment strategy
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We see it every time Bitcoin goes to a new lower level.
Bitcoin "believers" will hurry to say "buy the dip" and "just wait it will come back"
Reality is that every dip is a new lower level - and after that comes another dip...and another.
In the beginning of 2017 very few people had Bitcoin - and therefore the price could quickly move up as a large number of people with zero financial understanding started buying Bitcoin.
Now a large number of people with zero understanding has Bitcoin and price moves down - there are no more new fools to get into Bitcoin to ever pump it again.
"Buy the dip" is something only fools believe - and as can be seen in here there are unfortunately many fools in here who do not understand that their money is already lost
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"I told you so" comes to mind.
I warned everyone in here again and again in the beginning of 2018.
Get out of Bitcoin as fast as you can to limit your losses.
Everytime so-called "experts" and "investors" in here said to HODL. Bitcoin would soon go to the moon.
Only the most blind and stupid still believe Bitcoin will ever recover.
The sooner you get out, the smaller your loss. If you wait, you can be sure the loss will be even bigger.
Blockchain technology has a great future, but cryptocurrencies - any crypto - are a dead end.
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It is extremely funny to see. Basically every single thread in this forum is the same.
Somebody makes a post, and with 2-3 comments all comments clearly show that the poster have not read (or understood) a single word of what the OP wrote..... Instead comments merely become desperate attempts to talk each other into hope that Bitcoin will rise again.
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Peak - 16 Dec: 20.000$
Dip - 30 Dec: 12.600$
Peak - 6 Jan: 17.100$
Dip - 5 Feb: 6.900$
Peak - 4 Mar: 11.500$
Dip - 7 Apr: 6.600$
Peak - 5 May: 9.800$
Dip - 28 Jun: 5.800$
Peak - 24 Jul: 8.400$
Now we are at 6.200 going down to the next even deeper dip
This is the long and slow death of Bitcoin as there are not really anyone new who wants to use it (let's face it, there is no use at all, only "investment"), and as current Bitcoin-believers are slowly becoming fewer and fewer, the price will continue this long slow death-spiral
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Myspace had 500 million users who believed in it. Their belief drive the value up.
Then came facebook - and Myspace was totally abandoned and the value of the "belief" dropped like a stone
Bitcoin is the same - when something better comes around, belief will crumble and Bitcoin will be abandoned like Myspace and investors will have zero value. And Bitcoin will indeed be abandoned as it has again and again proven itself completely useless for large-scale practical applications.
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Peak - 16 Dec: 20.000$
Dip - 30 Dec: 12.600$
Peak - 6 Jan: 17.100$
Dip - 5 Feb: 6.900$
Peak - 4 Mar: 11.500$
Dip - start April, we are at 6.700$ and still declining.....
HODL together with "buy the dip" is the worst strategy - guaranteed to destroy you money.
If you feel lucky, try buying the dip and make absolutely sure you sell at the peak - but then you might as well also be playing at the casino.....
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The full article is linked to below, an excellent read if you have the time. The short concluding parts: Following the “herd,” has always ended badly for investors. In every full-market cycle, there is an inevitable belief “this time is different” for one reason or another. It isn’t. It has never been. And this time will not be different either. However, what has always separated out the great investors from everyone else, is they have acted independently of the “herd.” They have a discipline, a strategy and a driving will to succeed. They don’t “buy and hold.” They buy cheap and sell expensive. They avoid losses at all costs and they deeply understand the relationship of risk to reward. They are the “non-stupid.” These are the ones you want to follow. Not the ones screaming at you on bitcointalk telling you to “buy, buy, buy.” The full good article: http://realinvestmentadvice.com/5-universal-laws-of-human-investment-stupidity/ |
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Bitcoin is just like any casino or lottery - it is a tax on stupid people who fundamentally do not understand that this is a game they will lose. It is tax on low intelligence.
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If you look at the total developments - and not at the wild volatility from day to day:
December on average was around 15.000$ for BTC
Peak was in December where BTC was at 20000$
January was on average around 12.500$
February was around 10.000$
March was around 7.500$
It is not difficult at all to see where this is going......
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"FUD" screams many in here - they are so afraid that negative news will further increase their losses on their Bitcoin "investment".
They desperately hope that by screaming "FUD" the price will magically be pumped again.
But what they call "FUD" is often just plain old truth and facts. And no amount of screaming will change reality.
Reality is that Bitcoin has proven beyond any doubt that it does not work as a currency.
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A very very good explanation as to why BTC will crash even though blockchain is a good tehnology. If you do not want to read the full link below, here is the key part of the comparison: " … imagine that someone had found a cure for cancer and posted the step-by-step instructions on how to make it on-line, freely available for anyone to use.
Now imagine that the same person also created a product called Cancer-Pill using their own instructions, trade marked it, and started selling it to the highest bidders.
I think we can all agree a cure for cancer is immensely valuable to society (blockchain may or may not be, we still have to see), however, how much is a Cancer-Pill worth?" Clearly Bitcoin is like cancer-pill - and we have already seen thousands of new coins (cancer-pills) appear. Eventually their price will be almost zero. The full explanation can be found here: http://www.mrmoneymustache.com/2018/01/02/why-bitcoin-is-stupid/ |
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The continuing decline where Bitcoin goes to deeper and deeper levels is very clear. If the pattern continues, the next bottom will be on February 20 where it will drop below 4000. Continuing, then the next bounce will only reach up to around 7000, followed by an even deeper drop.....  |
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This is how many Bitcoin people in here are arguing:
I saw some people buy a can of Coca Cola for 2000$ just a month a ago.
Now I can buy a can of Coca-Cola for only 500$, it is cheap!!
Bitcoin is not cheap at 6000$. It is make-believe toy money with no real value apart from some novelty value for people who like to have cryptos for fun.
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