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Author Topic: Nothing is dying except the illusion of easy seemless riches.  (Read 283 times)
cryptocrusher
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February 05, 2018, 05:50:51 PM
Merited by HabBear (1), audaciousbeing (1), jseverson (1), Aikidoka (1)
 #1

"Bitcoin is down, crypto is down, everything is down, this is the end, crypto and bitcoin are dead."

How often have you read the above in the last weeks? Let's look at some things in a bit more context here to really understand things. 3 months ago, bitcoin price was around exactly the price we're at today. A year ago it was at about 1k, that's a 600% increase since then. All this crash/correction has shown is that nothing can rise indefinitely and at an ever increasing pace.

Take a step back people and think about things logically, nothing else in the world would offer the same ROI that crypto has for the last year, do not let your greed blind you, the illusion that you could invest and the price would continue to rise without any resistance is dead but crypto is not.

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BelieveInBitcoin
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February 05, 2018, 11:18:05 PM
 #2

As ever, when in doubt HODL.
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February 05, 2018, 11:38:50 PM
 #3

"Bitcoin is down, crypto is down, everything is down, this is the end, crypto and bitcoin are dead."

How often have you read the above in the last weeks? Let's look at some things in a bit more context here to really understand things. 3 months ago, bitcoin price was around exactly the price we're at today. A year ago it was at about 1k, that's a 600% increase since then. All this crash/correction has shown is that nothing can rise indefinitely and at an ever increasing pace.

Take a step back people and think about things logically, nothing else in the world would offer the same ROI that crypto has for the last year, do not let your greed blind you, the illusion that you could invest and the price would continue to rise without any resistance is dead but crypto is not.

I agree with what you've said here. I've read the statement far too many times, and I'm definitely questioning whether or not people were here just for the quick profits or to actually discuss bitcoin, blockchain, and altcoins overall. Of course, I understand that many people saw bitcoin as a way to get rich quickly. However, I just feel that it doesn't make sense that people saw this and instantly jumped into the coin without even learning anything about it. That's pretty much sheer stupidity.

Also, people don't even want to take a look at the growth over time. You mentioned it, and it was definitely a huge amount over the past years. While I was surprised by when the drop came, I'm not surprised by how much the drop took out.

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February 06, 2018, 12:27:27 AM
 #4

3 months ago, bitcoin price was around exactly the price we're at today. A year ago it was at about 1k, that's a 600% increase since then. All this crash/correction has shown is that nothing can rise indefinitely and at an ever increasing pace.

I have seem this statement on the internet. Expert Crypto investors are telling this and that we shouldn't think on short term when investing in Crypto-Currency, but on long one. One of those experts I have seen, told Bitcoin will hit $1.000.000 by 2020. Thinking this way is much more comforting and the most important, it makes sense... So let's see the situation by a positive point of view: It's a good opportunity to buy cheap coins now, and not only Bitcoin, as the whole Crypto market is falling at this moment.

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February 06, 2018, 12:47:31 AM
 #5

The problem is that those who invest in crypto have never ever invested in anything else in their life.
We see this fear and greed very often in trading schools among newbies
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February 06, 2018, 01:01:36 AM
 #6

"Bitcoin is down, crypto is down, everything is down, this is the end, crypto and bitcoin are dead."

How often have you read the above in the last weeks? Let's look at some things in a bit more context here to really understand things. 3 months ago, bitcoin price was around exactly the price we're at today. A year ago it was at about 1k, that's a 600% increase since then. All this crash/correction has shown is that nothing can rise indefinitely and at an ever increasing pace.

Take a step back people and think about things logically, nothing else in the world would offer the same ROI that crypto has for the last year, do not let your greed blind you, the illusion that you could invest and the price would continue to rise without any resistance is dead but crypto is not.
I haven't seen anything about the "death" of crypto as it were, it's often more related to the bubble bursting and the general collapse of everything. But that doesn't really matter as much since it should have been (mostly) obvious that it was bound to happen sooner or later.

The only thing I am happy about is all the people who were driving the costs of GPUs up for the rest of the commercial market in the belief that they were going to make money forever. The more of them that stop buying the cards the better because the prices are insane now.
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February 06, 2018, 02:31:47 AM
 #7

The first reason why bitcoin has risen so fast is that it is important to know that his people are very few and fast.


No matter how you drop your money, it is recommended that you hold it for a long time. Don't worry about it, it is a fall, and the investment in digital currency is different from investing in stocks.
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February 06, 2018, 02:46:38 AM
 #8

"Bitcoin is down, crypto is down, everything is down, this is the end, crypto and bitcoin are dead."

How often have you read the above in the last weeks? Let's look at some things in a bit more context here to really understand things. 3 months ago, bitcoin price was around exactly the price we're at today. A year ago it was at about 1k, that's a 600% increase since then. All this crash/correction has shown is that nothing can rise indefinitely and at an ever increasing pace.

Take a step back people and think about things logically, nothing else in the world would offer the same ROI that crypto has for the last year, do not let your greed blind you, the illusion that you could invest and the price would continue to rise without any resistance is dead but crypto is not.

If you zoom out then you will realize how bitcoin increase in the past years and even just last year if you invested in the earlier months then you would be in profit. There are many people though who only joined crypto recently because of the hype and bought above $10,000 so most likely they are at a loss if they decide to hold it for a long time and did not trade to add more coins to their portfolio. They are in panic mode now because some even borrowed money just to invest in crypto and now they are having problems because their portfolio is down maybe 50% and the bill is right there waiting to be paid.

FUD after FUD and we are back to where we are few months ago. This is why "invest what you can afford to lose" is there to remind every one that if you can't bear to lose it then don't put it in a high risk investment like crypto. All markets has a cycle and we are in a bearish period now so you should always have a back plan in case your plan in crypto didn't work out as what you anticipated. Multiple source of income is the key.
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February 06, 2018, 03:07:33 AM
 #9

The first reason why bitcoin has risen so fast is that it is important to know that his people are very few and fast.


No matter how you drop your money, it is recommended that you hold it for a long time. Don't worry about it, it is a fall, and the investment in digital currency is different from investing in stocks.

You'e right. too many wise guys who have very little experience with investments and think they're going to "crack the code" of the market, day trade it, and get rich quick. Easy money! The reality is, reading the market is like reading tea leaves. It's mostly nonsense. So you're right, invest a little bit here and there when you can, hold for awhile, and wait for the day traders to come back. There's no shortage of them, and we'll see another boom in a year or two. Maybe $50k USD by 2020? Seems crazy, but I think it's possible.
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February 06, 2018, 03:30:35 AM
 #10

the illusion that you could invest and the price would continue to rise without any resistance is dead but crypto is not.

Very well said.
This illusion was partly fueled by the prospect of everyone becoming a Venture Capitalist now that they could invest in ICOs. I think a lot of these people who bought at >10K bought to get onto the ICO train. ICOs giving back 5x returns was almost a constant in telegram, discord and Slack groups over the last few months.

They did this by simply investing in whatever sounded the best without going into the details of the project, team or technology behind it. Those who bought BTC just for the sake of BTC would have done their research and would have come across the golden rule of crypto.
If they didn't bother, then I am tired of parting with my sympathy for these people.

I bought in at the 6K levels and now am back to almost my original investment after those 12X gains on blockfolio. I frankly don't care because I am so much better informed and starting to get the feel of the technology and politics behind it.
Its exciting to be a part of.

I hope these people learn their lessons and we get rid of the people who thought the goose would keep laying golden eggs indefinitely. Next time, Do your own research and stop taking the shortcut of believing Youtube shills.


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February 06, 2018, 03:37:48 AM
 #11

so Fomo is just an illusion of easy seemless riches, this is great statement for Current situation
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February 06, 2018, 02:49:06 PM
 #12

Excellent reflection. Really many people have lost the sanity and logic with all is revolution and what is worse they are carried away by the comments and have tried to get rid of their bitcoin just because "is going down" when really what they should do is wait. As you say, it is greed that causes this.
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February 06, 2018, 02:54:45 PM
 #13

"Bitcoin is down, crypto is down, everything is down, this is the end, crypto and bitcoin are dead."

How often have you read the above in the last weeks? Let's look at some things in a bit more context here to really understand things. 3 months ago, bitcoin price was around exactly the price we're at today. A year ago it was at about 1k, that's a 600% increase since then. All this crash/correction has shown is that nothing can rise indefinitely and at an ever increasing pace.

Take a step back people and think about things logically, nothing else in the world would offer the same ROI that crypto has for the last year, do not let your greed blind you, the illusion that you could invest and the price would continue to rise without any resistance is dead but crypto is not.

There could be a spike of price but it is not until forever, there should be correction and it already happen. Rather than taking the panic on the dropping price of each cryptocurrency, we should be calm and find ways or strategy not to get affected too much on this drop. Yes i agree with what you said since there the increase in price is not forever but it could not kill cryptocurrency.

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February 06, 2018, 03:09:47 PM
 #14

the illusion that you could invest and the price would continue to rise without any resistance is dead but crypto is not.

Excellent way of putting it. Take note though, that the people declaring that crypto is dying are the same people who panic at $1k drops. Bitcoin has been declared dead far too many times since the end of last year ever since its growth stopped, when we were in clogged network apocalypse. Yet, pretty much everything is still in a much better place than they were a year ago.

What creates these expectations is the mentality of crypto being a get rich quick scheme, which it really isn't. It's increasingly looking like a bear market is upon us, and one advantage that could bring is to drive out the people who only want to make a quick buck.

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February 06, 2018, 03:21:23 PM
Merited by jseverson (1)
 #15

It just shows how little of the population truly understands bitcoin and its economy. The 20k peak probably attracted lots of people who dont really know what they're doing and are just in it for the quick buck. They're obviously most susceptible to fuds. The reality of the situation is a sudden growth is never sustainable. Every time it would happened there will be a correction. Enjoy it while it lasts but dont panic when it ends.

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February 06, 2018, 03:51:03 PM
 #16

"Bitcoin is down, crypto is down, everything is down, this is the end, crypto and bitcoin are dead."

How often have you read the above in the last weeks? Let's look at some things in a bit more context here to really understand things. 3 months ago, bitcoin price was around exactly the price we're at today. A year ago it was at about 1k, that's a 600% increase since then. All this crash/correction has shown is that nothing can rise indefinitely and at an ever increasing pace.

Take a step back people and think about things logically, nothing else in the world would offer the same ROI that crypto has for the last year, do not let your greed blind you, the illusion that you could invest and the price would continue to rise without any resistance is dead but crypto is not.
It is true, BTC couldn't be increasing all the time, otherwise it would mean, that it's just a bubble and now its time is up. But such situations, we've been through at least 2 times already only show the potential of this cryptocurrency, because it always recovers and it will rise again. And this crash now is the opportunity for investors too.
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February 06, 2018, 06:04:53 PM
 #17

In fact that's why I think corrections are sometimes a great thing for cryptocurrencies. Greed people leave the market faster, once they realize the easy rich system is in fact not that easy. Believers will stay here and this is these people who truely support cryptocurrencies and help these to progress.

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Edraket31
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February 06, 2018, 06:16:52 PM
 #18

You are right, we are just expecting much that we can be a millionaire in just a couple of days or months, it is not that easy to become millionaire unless you have a million dollar that you can invest here since it is easy for you to earn that amount too. In other words, let us not expect more than the reality, based only on the reality how much it can give and don't be too greedy about money.
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February 07, 2018, 09:26:09 AM
 #19

"Bitcoin is down, crypto is down, everything is down, this is the end, crypto and bitcoin are dead."

How often have you read the above in the last weeks? Let's look at some things in a bit more context here to really understand things. 3 months ago, bitcoin price was around exactly the price we're at today. A year ago it was at about 1k, that's a 600% increase since then. All this crash/correction has shown is that nothing can rise indefinitely and at an ever increasing pace.

Take a step back people and think about things logically, nothing else in the world would offer the same ROI that crypto has for the last year, do not let your greed blind you, the illusion that you could invest and the price would continue to rise without any resistance is dead but crypto is not.

Totally agree! People are drunk on the thought of easy (well, relatively easy) earnings. Guys, be sober! Crypto is not a panacea, it's a risky and unpredictable market. Be ready for "easy come easy go".
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February 07, 2018, 10:00:44 AM
 #20

Being possitive in all this news is really what the community should think. Unlike the newcomers that did not understand what crypto currency was where really making a fuss out of it because they buy at peak of the bitcoin rally that results to dump.

For new comers, always keep in mind the buy low sell high quotes of most traders in the crypto currency if you really want to make a profit.

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