Girl Gone Crypto - Cryntro

[lurker10]

Bitcoin maximalists are running scared, so funny.

stuff like this deserves to be called out if it was regarding bitcoin too. after 2014/15 i think everyone here is hyper attuned to potential bear market horror again.

alts have had a pretty smooth run upwards with no lengthy troughs. maybe they won't but all this is ringing so many classic alarm bells it's almost too obvious.

World changing technologies all together priced at 15 billion dollars, which is a valuation of one big (not the biggest) corporation, is ringing alarm bells?

[European Central Bank]

World changing technologies all together priced at 15 billion dollars, which is a valuation of one big (not the biggest) corporation, is ringing alarm bells?

when the non bitcoin portion goes up several hundred per cent in a month or two, yep. and when the bitcoin price rises when certain exchanges are in turmoil. it's never been easy to tell what bitfinex is doing, even less so now.

barely no one is using bitcoin still, let alone anything else.

[anonymoustroll420]

BTC as a store of wealth, LTC as a means of faster payment, and XMR for anonymity. The rest are useless so far.

Even though litecoin has a smaller block time, the security of each block is less than Bitcoin. You would still need to wait 10 minutes to get a similar level of security to a 1 confirmation Bitcoin transaction, then it would take 10 minutes of work to undo the transaction.

XMR cannot scale well at all. Transactions are 10x the size of Bitcoin's, and currently XMR nodes use around 1.5TB bandwidth/mo with default settings. This problem is so bad and has a huge centralizing effect that XMR devs want to introduce sharding to deal with it. In any case coinjoin and confidential transactions both bring privacy similar to BTC. Joinmarket will be awesome when it matures more.

If only we had a malleability fix for Bitcoin. Then we'd have LN - instant transactions, low fees, better privacy, scalable smartcontracts, and cross-blockchain payments. Bitcoin would be supreme, there would be little reason for any other altcoin to exist.

[cellard]

You shouldn't call them out like that, essentially people with enough money in pockets when start buying any coin off the market as a natural consequence price will pump.

Thats called a speculative bubble

Of course I should call them out. People who are investing in [X] or promoting [X] solely or primarily because it has made them money are greedy idiots. They don't care about any fundamentals that crypto was built upon.

Do I know this is a bubble formed by firstly whales and secondly the community (community with buy power starting from $10 up to $10,000 and above that considers whales which in turn they have their sizes) and there is actually no use cases for such an altcoin in the real world?

The market capitulation of altcoin is in a crazy bubble.

What could ETH do when price was under $7 and what it can do now that price is 10 folds?

Nothing.

what will happen when people start trying to take their profits out?

Imagine the panic triggered if the SEC suddenly were to approve the appeal (the reason for rejection is nonsensical is anyways). Altcoins would plummet into an abyss as people run to save their wealth.

I hope im wrong, but I think the current bubble is mostly triggered by the SEC re-considering the ETF, and I think they didn't re-consider it themselves, this is just the Winklevoss being insistent. Nothing has changed so the ETF will fall again which means the price will probably crash then recover finding a new floor. As this happens, some alts will fly, possibly LTC, and maybe ETH goes even higher.

People just love to speculate and to make money without working, this is why I think altcoins will never disappear, people love the crypto casino. Making a great trade feels too good.

[European Central Bank]

I hope im wrong, but I think the current bubble is mostly triggered by the SEC re-considering the ETF, and I think they didn't re-consider it themselves, this is just the Winklevoss being insistent. Nothing has changed so the ETF will fall again which means the price will probably crash then recover finding a new floor. As this happens, some alts will fly, possibly LTC, and maybe ETH goes even higher.

i really can't believe professional traders would be stupid enough to fall for that hopium. then again maybe the small fry are and the traders are feeding off them.

i think it's more like the US marshal auctions. it can only have that market effect once.

[lurker10]

World changing technologies all together priced at 15 billion dollars, which is a valuation of one big (not the biggest) corporation, is ringing alarm bells?

when the non bitcoin portion goes up several hundred per cent in a month or two, yep.

barely no one is using bitcoin still, let alone anything else.

15 billion doesn't mean that much real dollars is invested. It doesn't take a lot of effort to move small caps hundreds of per cent. I believe we'll see more significant moves over the next few months before this rally is out of steam, which is going to make a few more Bitcoin maximalists sad and cry.

[Denker]

You shouldn't call them out like that, essentially people with enough money in pockets when start buying any coin off the market as a natural consequence price will pump.

Thats called a speculative bubble

Of course I should call them out. People who are investing in [X] or promoting [X] solely or primarily because it has made them money are greedy idiots. They don't care about any fundamentals that crypto was built upon.

Do I know this is a bubble formed by firstly whales and secondly the community (community with buy power starting from $10 up to $10,000 and above that considers whales which in turn they have their sizes) and there is actually no use cases for such an altcoin in the real world?

The market capitulation of altcoin is in a crazy bubble.

What could ETH do when price was under $7 and what it can do now that price is 10 folds?

Nothing.

what will happen when people start trying to take their profits out?

Imagine the panic triggered if the SEC suddenly were to approve the appeal (the reason for rejection is nonsensical is anyways). Altcoins would plummet into an abyss as people run to save their wealth.

I hope im wrong, but I think the current bubble is mostly triggered by the SEC re-considering the ETF, and I think they didn't re-consider it themselves, this is just the Winklevoss being insistent. Nothing has changed so the ETF will fall again which means the price will probably crash then recover finding a new floor. As this happens, some alts will fly, possibly LTC, and maybe ETH goes even higher.

People just love to speculate and to make money without working, this is why I think altcoins will never disappear, people love the crypto casino. Making a great trade feels too good.

What bubble are you talking about? Bitcoin is far away from being in a bubble! It's rise because of demand, because people need to buy BTC to get some alts, and people who shift some of their profits from alts back into BTC.
I can't see any relation to the ETF review here. Not yet!

[Red-Apple]

potential bear market horror again.

what you call a bear market had a reason called Gox and willi-bot. and only because it happened once doesn't mean there is a potential for its repetition.

alts have had a pretty smooth run upwards with no lengthy troughs.

...for a short time, again, like previous times when there was pumping going on.
price of an altcoin going up and staying up because you have enough money to put up one buy wall which is 6500BTC big doesn't mean that altcoin has a healthy price.

and considering how screwed and obtuse certain bitcoin exchanges are, i'm not super confident in bitcoin's price either.

the same is true about altcoin exchanges and even worse. we have one big altcoin exchange and the rest report mostly fake volume only to stay relevant and not lose so many customers.
right now poloniex is the equivalant of 2012 GOX for altcoins as far as market dominance goes.

[Xester]

World changing technologies all together priced at 15 billion dollars, which is a valuation of one big (not the biggest) corporation, is ringing alarm bells?

when the non bitcoin portion goes up several hundred per cent in a month or two, yep. and when the bitcoin price rises when certain exchanges are in turmoil. it's never been easy to tell what bitfinex is doing, even less so now.

barely no one is using bitcoin still, let alone anything else.

If bitcoins value is increasing and even bitfinex will close down it is still okay since bitcoin can survive without bitfinex. The bitcoin market is going strong and it will climb and overcome all challenges that the network is experiencing. So to say that no one barely is using bitcoin is a false concept. Just look at Japan as an example you will be surprised as how their country accepts and adopts the use of bitcoin as a form of payment.

[Kprawn]

The moment you see banks showing a interest in some Alt coins, then you should avoid it like a plague. I bought some Ripple in the beginning,

until they aggressively started promoting it by pushing people to link their social media "to get some free coins" and then I realized why it was a

bad idea. The funny thing is when these Alt coins will come down hard and the shills and trolls start crawling back into the Ass cracks they came

from. 

[Chris!]

Of course I should call them out. People who are investing in [X] or promoting [X] solely or primarily because it has made them money are greedy idiots. They don't care about any fundamentals that crypto was built upon.

I keep getting emails from certain blogs about bitcoins that keep saying how much they love Ethereum. That's wonderful. I don't. That's why I was added to a mailing list for a blog about bitcoins. If you are deviating to only talking about alts then I'm really not interested. Some have potential but I'm not invested in any of them. I do a little altcoin trading here and there to take advantage of wild swings but I would never hold 95% of alts. Ethereum is one of them. I don't agree with any of the fundamentals of Ethereum. Saying it's great because you've earned a lot doesn't mean it's going to be useful in the future (or now).

A lot of banks are in on Ripple. Again, another alt I'll never touch. I don't want a centralized currency, that's why I went with bitcoins. Why wouldn't I just use fiat and I wanted someone to be in complete control of my money?


*pop*

[European Central Bank]

https://www.reddit.com/r/ethtrader/comments/68ke0l/eth_daily_discussion_01may2017/dgzdfio/

buying eth with a credit card loan. does that remind you of a certain time in bitcoin's history? and many people remember what happened afterwards.

[Sniper44]

The moment you see banks showing a interest in some Alt coins, then you should avoid it like a plague. I bought some Ripple in the beginning,

until they aggressively started promoting it by pushing people to link their social media "to get some free coins" and then I realized why it was a

bad idea. The funny thing is when these Alt coins will come down hard and the shills and trolls start crawling back into the Ass cracks they came

from. 

as a cryptocurrency and as a project in blockchain technology field you are 100% correct. but these coins are not coins they are short term investments. the advertisement calls them as real things because that is how you get people to invest their money in it, if you say we are just pump and dumping it nobody would come near them.

but people need to understand the game. pull the curtains aside and see behind them. then when you saw past all the deceit you can make a lot of money and laugh at the pumpers whom you dumped on not the other way around.

[Weatherby]

i really can't believe professional traders would be stupid enough to fall for that hopium. then again maybe the small fry are and the traders are feeding off them.
i think it's more like the US marshal auctions. it can only have that market effect once.

Do you really think that the market is not moving according to favorable sentiments rather than substance.There is are no professional traders here ,the market always swings according to the good mood it creates because of the positive news else where and it reacts badly with the negative news and it wont change soon.It all happens when some techies holds a large amount of coins worth millions .

[lurker10]

https://www.reddit.com/r/ethtrader/comments/68ke0l/eth_daily_discussion_01may2017/dgzdfio/

buying eth with a credit card loan. does that remind you of a certain time in bitcoin's history? and many people remember what happened afterwards.

Taking a loan to speculate is insanity, credit cards are for emergencies, that's my POV.
This doesn't imply that they can't get it right one time and make a profit because the crypto bull market is progressing.
There is a very good reason bull markets are called climbing a wall of worry, you're worried this is a bubble and you're hesitant to buy into it, these are emotions of any bull market. Since we are in uncharted waters with these world changing technologies, we don't know where this is going to end. Thanks for the warning but people are going to do what they always do, including taking loans to gamble.

[Lauda]

Do you really think that the market is not moving according to favorable sentiments rather than substance.There is are no professional traders here ,the market always swings according to the good mood it creates because of the positive news else where and it reacts badly with the negative news and it wont change soon.It all happens when some techies holds a large amount of coins worth millions .

The market around Bitcoin and especially around altcoins is not regulated enough. Whilst some will argue about the benefits of this, it is clear that it also comes with certain negatives. One of which is stability (as I'd expect more of it were there more "professional traders" in the game).

Taking a loan to speculate is insanity, credit cards are for emergencies, that's my POV.

Investing with loans into something that is known to be far volatile than traditional currencies is something that only an idiot can do. This is also a perfect example of the real reasons behind the price rise in the altcoins, i.e. pure speculation. In this example, that person did not buy [X] altcoin because he believes in any or it (or cares about the initial idea behind cryptocurrency). He bought solely because he thinks/hopes that the price will increase.

I keep getting emails from certain blogs about bitcoins that keep saying how much they love Ethereum.

You can't be in Bitcoin for the right reasons and love ETH at the same time. They are mutually exclusive (one is decentralized, the other is a centralized bail-out coin). ETH pump campaigns have been going on for a while in the Bitcoin subreddits (i.e. SPAM being sent to a lot of users).

[Juggy777]

This video came across my attention and seems to be decent enough for sharing: https://www.youtube.com/watch?v=fUVTb8-i93s
This video both mentions Bitcoin & alts, more specifically the current nonsensical altcoin bubble that we are in. If you're around here, show yourself. There are lessons to be learned and Reddit is most certainly one of the worst ways of learning from.

"It went from 12 to 60 dollars. That's why I love it, that's why I believe in it, that's why I tell all my friends about it. If you want to make money invest in Ethereum"

A classic example of what one hears about [insertAnyAltcoin]. In the case of ETH, this is the only reason for touching it (remember when it was about the DAO & dapps, now it's provably fair gambling, et. al.?). Most of the alts are both trying to create problems and offer solutions for them.

The story in the video is the sad reality, people just don't understand Firstly what a crypto currency is, then they prefer to take information from those who absolutely have no idea about it and they make rash decisions. A classic example is one coin, since I have never believed in alts and I don't care how much high they go, they will never be what Bitcoin is to me. So coming to onecoin-much-scam I had advised people I know not to take, but their so called financial guy said it was safe and what happenes next we all know, arrest,scam and that's why I have always made it a point to tell people to come to this forum read and understand before making any stupid decisions, but fools will remain fools, can't help it.

[Kprawn]

The moment you see banks showing a interest in some Alt coins, then you should avoid it like a plague. I bought some Ripple in the beginning,

until they aggressively started promoting it by pushing people to link their social media "to get some free coins" and then I realized why it was a

bad idea. The funny thing is when these Alt coins will come down hard and the shills and trolls start crawling back into the Ass cracks they came

from. 

as a cryptocurrency and as a project in blockchain technology field you are 100% correct. but these coins are not coins they are short term investments. the advertisement calls them as real things because that is how you get people to invest their money in it, if you say we are just pump and dumping it nobody would come near them.

but people need to understand the game. pull the curtains aside and see behind them. then when you saw past all the deceit you can make a lot of money and laugh at the pumpers whom you dumped on not the other way around.

The same goes for technologies that are marketed as "Blockchain based" ..... In the early days, people saw labels like, "Intel inside" and they

associated it with quality, but some of the Intel chips was clunky and had "heat" issues.... so a label means nothing and more so with these

private ledgers that are labelled as "Blockchain based" .... They riding the "Blockchain" hype... but their implementation is "centralized" and a

cheap imitation of the original Bitcoin. Avoid them at all cost... 

[aarturka]

Ethcoin is crap, Butterin said himself that it was created to shake down sheeple...

[Chris!]

You can't be in Bitcoin for the right reasons and love ETH at the same time. They are mutually exclusive (one is decentralized, the other is a centralized bail-out coin). ETH pump campaigns have been going on for a while in the Bitcoin subreddits (i.e. SPAM being sent to a lot of users).

I've got to be honest when I saw price increases I was intrigued. So like any investment I started doing some research. After about 5 minutes I realized that I would never be investing in a centralized currency. Why wouldn't I just keep Canadian dollars that are controlled by a government I can vote for rather than some developer from where ever that can change anything he wants at any point. That sounds awful. Smart contracts are a good idea, but he didn't get it right.