smartcomet
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July 13, 2019, 08:44:03 AM |
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Market dominance is a shitty indicator, we all know why, and after Bitwise report we cannot ignore anymore his limitation, but, can still point in the right directions to intresting thoughts about market. Market dominance just broke the peak during Dec '17 (price) ATH, and at 65,2% it is now at the highest levels since April 2017. Another way of looking at the same phenomenon is the following: relative price movements of shitcoins versus BTC over the last 3M 1BTC=1BTC Elsewhere: red, red everywhere. Some obscure random shitcoin in the green, but just a statistical error, I guess. This is truly remarkable. I propose three reasons why market dominance is going north, I ask you your toughs. I list there in the order of market relevance, in my opinion: - Technology has progressed, people studied and has understood better how cryptos work, so they came to the right conclusion shitcoins are indeed...shitcoins. Shitcoins value proposition has since faced and now they are clearly revealed for what they have always been: (kind of elaborate) exit scams by fraudster to transfer your bitcoin in their wallets.
- We are on the verge of an epochal bull run caused by institutional money on the brink on entering cryptocurrencies. Of course the main gateways for this to happen is Bitcoin. I can't see them diversifying their investment into other bitcoins in the near future both because lack of regulations, lack of liquidity and above all security and scrutiny on this coins.
- The more Bitcoin performs versus shitcoins, the more the random investors will be keen on buying bitcoins and abstain to shift to shitcoins, because Bitcoin IS the asset performing. SO kind of self-fulfilling mechanism/shelling point where you don't want to convert your bitcoin into other assets
What are your toughs? Altcoiners have less bitcoin than 5 years before after traded the altcoins for years based on the 80/10/10 rule, then more and more bitcoins go to institutional investors and holders. But if bitcoin dominace goes to 80% or more , maybe there will be a altcoin bull.
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Arriemoller
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Cлaвa Укpaїнi!
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July 13, 2019, 09:12:06 AM |
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three whole marijuanas ??
I can't be sure I'm even alive and typing this post, to be honest with you. Would a picture of my other leg help?
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machasm
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July 13, 2019, 09:16:58 AM |
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Not sure if it was paranoia, or arrogance, I was probably 6 years old - and daring god to prove he existed in my head. I decided since he didn't strike me down, he didn't.
When I was in elementary school I went through a phase where I believed that the entire world was spying on me. I'm pretty sure that at some point everybody (well most liberated westerners with time to kill) contemplates whether or not the world revolves around them, and wonder if they may be the only real thing in the universe. Some have even developed philosophies around the concept, others movies. After having your ass handed to you a few times though, it becomes apparent that we are all just typical spazzes, and that no one is actually that different from anybody else. We all exist, were born into this world crying and against our will, share 99.99% of the same DNA, and not one of us knows what the fuck we are actually doing here. You must be over 30! I don't think that this analysis dawns on you until reaching this age. By the time your my age (ahem over 50) you just don't give a fuck. Have a good weekend WO brothers.
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Arriemoller
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Cлaвa Укpaїнi!
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July 13, 2019, 09:21:05 AM |
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Any of y'all ever get the uncanny feeling like the world -- the entirety of it -- has been created and scripted for the sole purpose to gauge how you yourself will react to it?
When I was a kid, very young - yep. I had a phase where I was convinced people (and things) only existed when I could see them. That is, that when someone left the the room, they disappeared. It was all show, put on for me. I think most people feel that at some point, mostly as kids. I had the feeling everything was a play, like a TV series and everybody around me was just acting. Like that movie, "Truman show" or something like that I think it was called.
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El duderino_
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BTC + Crossfit, living life.
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July 13, 2019, 09:33:12 AM Merited by BobLawblaw (4) |
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I was just looking around and Damn ..... found some RL footage of BoB.....
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kurious
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July 13, 2019, 09:39:24 AM |
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(redacted)
Eek! Jeez, Mic...
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LFC_Bitcoin
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#1 VIP Crypto Casino
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July 13, 2019, 09:47:44 AM |
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Moved a load of fiat from our business account to my personal account. Fuck the tax man, I’m ready to unload the clip & gobble up dat dip.
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El duderino_
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BTC + Crossfit, living life.
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July 13, 2019, 09:54:38 AM |
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Hey guys. WO newbie here. I'm a crypto news writer and my most recent article was at least partially inspired by this thread. Just so you know I'm not a complete hack, I interviewed Elwar a while back about seasteading and bitcoin, before all the drama went down. I'm glad to hear that him and Nadia are doing good and even managed to tie the knot! Anyway, I just thought you guys might enjoy this one. Its more or less about why BTC is doing good while alts are not. I suspect many of you feel strongly about this subject matter already, but you may enjoy it anyway. Would like to hear your thoughts. https://coinclarity.com/all-hail-king-bitcoin-why-btc-remains-1/Thanks and go bitcoin! +1, currently out but not for long
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El duderino_
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BTC + Crossfit, living life.
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July 13, 2019, 09:55:04 AM |
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(redacted)
Eek! Jeez, Mic... It is what it is ...
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Globb0
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Free spirit
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July 13, 2019, 10:06:32 AM |
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It feels so empty without us doesn't it ? No fomo, no hodl hodl all over the place.. No enthusiasm, no attraction, no desire , no newbies , no price changing investors, no love, no hate either.. I could go on, but when will ya realize ? =3 When we are gone?
Can you recommend any good delusional drugs?
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Negotiation
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July 13, 2019, 10:08:14 AM |
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I was just looking around and Damn ..... found some RL footage of BoB..... GIF formate creatable BaBoo
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El duderino_
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BTC + Crossfit, living life.
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July 13, 2019, 10:10:58 AM |
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vroom
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a Cray can run an endless loop in under 4 hours
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July 13, 2019, 10:21:04 AM |
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It feels so empty without us doesn't it ? No fomo, no hodl hodl all over the place.. No enthusiasm, no attraction, no desire , no newbies , no price changing investors, no love, no hate either.. I could go on, but when will ya realize ? =3 When we are gone?
Can you recommend any good delusional drugs? I think ya fellas do not need anymore drugs, ya are drugged out enough already. So do not judge me by your way of junkie living because i do not belong in your junkie category. says the man with the gas mask
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LFC_Bitcoin
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#1 VIP Crypto Casino
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Stop engaging with the lunatic guys
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Cryptotourist
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July 13, 2019, 10:51:39 AM |
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Sooo, you come out of the blue asking strangers for life changing money for yourself & your buddies, with the promise of doing something you absolutely cannot do - no guaranties of it anyways - and we just have to believe you in good faith & give you all our hard earned money in a blink, just because you wore a gas mask & printed some dominoes. Cherry topped with a deadline also. Yes, we are truly lunatic. Get lost.# Morning my WO brothers. For the next 1000 posts I will try not to shit post as much.
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nutildah
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Morning my WO brothers. For the next 1000 posts I will try not to shit post as much. "Show me a man who has never shitposted and I will show you a man who has never truly lived." - anonymous Actually I can think of one: satoshi. But he may not have been a single person anyway, so... Man, my fuckin nads have been itching something fierce these last few days.
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AlcoHoDL
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Addicted to HoDLing!
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July 13, 2019, 11:11:21 AM |
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I came out of the blue asking for financing.
Exactly. Now get the fuck out of here.
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Cryptotourist
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July 13, 2019, 11:19:16 AM |
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~We can buy your ass !~
Oh no, he has the CW syndrome. My ass can get quite expensive though, as it's not for sale. Come to think of it, I'll probably be OK with 100.000 BTC. If you really really want it that is. I wouldn't. It's hairy. - Disengaging with this moron -
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Cryptotourist
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July 13, 2019, 11:52:22 AM |
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- Hill Billy TA analysis -
I've been kinda bearish in my prediction for Mic's Q3 game, comparing with the $500-$1000+ range of the past. The more we move forward, the less chance I give it that we might visit again $7k or $8k levels. I feel that it would take a great deal of bear momentum, and it's just not there, cos we are in a bull fucking mode & global parameters are different this time. As for $2k or $3k, or even $4k, my belief is that never ever again.
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Wekkel
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yes
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July 13, 2019, 11:56:20 AM Last edit: July 13, 2019, 01:08:09 PM by Wekkel Merited by fillippone (1) |
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Market dominance is a shitty indicator [...] [...] - Technology has progressed, people studied and has progressed in the understanding of the cryptos and came to the right conclusion shitcoins are indeed...shitcoins. Shitcoins value proposition has since faced and now they are clearly revealed for what they have always been: (kind of elaborate) exit scams by fraudster to transfer your bitcoin in their wallets.
- We are on the verge of an epochal bull run caused by institutional money on the brink on entering cryptocurrencies. Of course the main gateways for this to happen is Bitcoin. I can't see them diversifying their investment into other bitcoins in the near future both because lack of regulations, lack of liquidity and above all security and scrutiny on this coins.
- The more Bitcoin performs versus shitcoins, the more the random investors will be keen on buying bitcoins and abstain to shift to shitcoins, because Bitcoin IS the asset performing. SO kind of self-fulfilling mechanism/shelling point where you don't want to convert your bitcoin into other assets
What are your toughs? My toughs? 1. I think more non-retail money (increasing constituent, now) seeks the safer bet, along with the liquidity of the largest player / market in crypto. 2. The feedback loop. As long as alts whither and dominance increases, it only reinforces the trend. For now, at least. There is a tendency to call all coins other than Bitcoin 'shitcoins'. To me, it seems mostly like NPC herd behaviour I'd rather make a distinction between: In my vocabulary, shitcoins are coins that serve no purpose, have no vision or (attempt to any) solution. We are in the process of saying goodbye to front_left_tooth_coin, not_solving_even_non_existing_problem_coin (Autorship, I am looking at you...), pump_and_dump_copy_paste_coin and all other projects that were stamped out of the ground and will be put back in that same ground soon. If anything of the numbers in Market cap is still representing shitcoins, it will be pressed out from it like a lemon. Good riddance. This is to be separate from chance coins. Projects that try to solve an existing problem or create new possibilities. High risk, many will fail, but the label 'shitcoin' would misrepresent these projects. And it would be very close minded to think that such new and innovative (but failure prone) projects won't be initiated in the future with only Bitcoin remaining. Perhaps in once sector (store of value) the competition will be very stiff, but there are many more aspects to cryptocurrency and DLT tech that are and will continue to be explored. Not meant as shilling and basically a random mentioning of some projects to color my thought of separating 'chance coins' from 'shitcoins'. - Ethereum: vehicle for the shitcoins that will deflate, but a programmable decentralised machine has something to it
- EOS/TELOS: more centralised (in computing sense) but more powerful. I can imagine this grabbing a spot for dApps that do require accounts/management/high TPS
- Nimiq: a payment solution with full blockchain capabilities, light weight (so some compromises on decentralisation) but excellent for small and fast payments. Nothing exciting in terms of standard POW blockchain, but it has something no crypto had: easy user experience.
Again, I'm not mentioning these projects because I think they will 100% rule the world. I mention these as examples of how time, money and creativity seeks opportunies, time and time again. Just like we do not call all companies with venture capitalist investors 'shitcompanies', I won't call all cryptocurrency projects 'shitcoins'. 'Shitcoins' and 'chance coins'. Remember this. edit: giving up on this shitty markup language from the 2000's [/list]
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