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Topic: Is Bitcoin in a DotCom recovery phase? - page 2. (Read 442 times)

Ch1bi

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Quote from: Kakmakr on August 15, 2018, 02:59:17 AM

Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.html

The Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst.

I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt.

Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?

What do you think?

I think coins that provide no value will go the way as those companies in the dot com bubble. The market is recovering slightly and we're seeing that in the price of Bitcoin and the alts as well. However it'll take some time for the alts to regain their value, if at all. I think the market is more rational as far as people having realistic expectations that crypto isn't a get rich quick scheme.

gentlemand

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Re: Is Bitcoin in a DotCom recovery phase?

August 17, 2018, 08:16:25 PM

#26

Quote from: cellard on August 17, 2018, 07:10:57 PM
There are only 2 possibilitites that I see now:

For the second one to arrive though enough alts would have to maintain enough illusion of future utility and value. Despite everything they're all still useless. ETH is the only one being used in any numbers and its only use has been to create more useless alts.

There'll have to be some very impressive conjuring tricks, or some actual results, to fool enough people again. There's probably 2-3 years before another monster bubble which leaves a lot more time for scepticism to marinate.

I know when dollars are in the air all sense goes out the window, but there'll have to be some type of new hook to get alts flying. The top alts at the top of this bubble were even more of a joke than the handful that were around in 2013. People will look back on 2017 and wonder what the hell they were thinking.

cellard

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Re: Is Bitcoin in a DotCom recovery phase?

August 17, 2018, 07:10:57 PM

#25

Quote from: hatshepsut93 on August 17, 2018, 06:50:30 PM
It wasn't a burst yet, merely a taste of it. When there will be a real burst, altcoins will be going to literally zero, and only some top coins will retain some small portion of their value. But this might happen without Bitcoin being in bear phase, it can very possibly happen while Bitcoin will have a bull run, and altcoin bagholders will be abandoning their shitcoins as they will realize that Bitcoin is the coin that works and alts are just vaporware. Also, a good indicator for the state of this alt/token bubble is how accepted the narrative of "blockchain tech" is outside of the crypto sphere. You can see that the skepticism starts growing as many tech experts are voicing their doubts.

There are only 2 possibilitites that I see now:

1) We have already had our "dotcom". Now, most investors are aware that most altcoins are useless crap in which people used to put money hoping to get their BTC x1000 in the next pump of the hour. All these big gains on altcoins are gone and it's better to stay 100% on BTC as we go to 6 figures against USD in the next halving.

2) We only had a small taste of what's to come. Trillions will come in to create a mega altcoin bubble with a very strong Bitcoin as well (probably when BTC is somewhere around $100,000 to 300,000). Considering that dotcom bubble peaked at 6.7 trillion USD, we couldn't have seen anything yet. Then after that, all altcoins die, BTC is crashes to like $10,000-40,000 or so, and then here we go again "Bitcoin is dead" etc.. for a couple of years, then Bitcoin comes back dwarfing all previous peaks and goes to $1,000,000+

See:

Im more inclined towards the second scenario. Mainly because I believe most people were still clueless about BTC + alts, so there will be massive investors in the forms of $trillions which will have to go from that "im going to invest in this alt which will x1000" phase to acceptance "most alts are nonsense and BTC reigns supreme" acceptance phase.

hatshepsut93

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Re: Is Bitcoin in a DotCom recovery phase?

August 17, 2018, 06:50:30 PM

#24

It wasn't a burst yet, merely a taste of it. When there will be a real burst, altcoins will be going to literally zero, and only some top coins will retain some small portion of their value. But this might happen without Bitcoin being in bear phase, it can very possibly happen while Bitcoin will have a bull run, and altcoin bagholders will be abandoning their shitcoins as they will realize that Bitcoin is the coin that works and alts are just vaporware. Also, a good indicator for the state of this alt/token bubble is how accepted the narrative of "blockchain tech" is outside of the crypto sphere. You can see that the skepticism starts growing as many tech experts are voicing their doubts.

weeks65

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Re: Is Bitcoin in a DotCom recovery phase?

August 17, 2018, 06:37:17 PM

#23

Quote from: Kakmakr on August 15, 2018, 02:59:17 AM
Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.html

The Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst.

I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt.

Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?

What do you think?
I believe that bitcoin is the bubble and the bitcoin bubble is breaking, you can see that the market is continuously going down dramatically in the past few days, bitcoin and altcoin prices are constantly falling, so to have To minimize the risk you should only invest in short-term bitcoin at this time. Bitcoin prices will continue to decrease at any time so you need to keep an eye on the market.

strongwarrior238

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Re: Is Bitcoin in a DotCom recovery phase?

August 17, 2018, 05:07:55 PM

#22

Quote from: Kakmakr on August 15, 2018, 02:59:17 AM
Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.html

The Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst.

I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt.

Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?

What do you think?
I think that the recovery period is over from 2017, you can see that 2018 is a year of continuous decline in bitcoin prices, the market is gradually in crisis as bitcoin and altcoin prices are constantly falling. . Therefore, I believe that this time you should only short-term investment and trading on bitcoin in order to minimize risk.

BCSHonda

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Re: Is Bitcoin in a DotCom recovery phase?

August 17, 2018, 05:02:24 PM

#21

Quote from: kevoh on August 17, 2018, 02:25:07 AM
Quote from: aoluain on August 15, 2018, 03:55:11 PM

The sad reality of this is that many of these so called useless altcoins will be worth zero satoshis if there is ever any attempt to liquidate back into bitcoin!

Coins that are no longer desirable are soon removed. And things that do not have any applications for life need replacing. As long as it exists, it is only costly to maintain. Influence the whole market.

kevoh

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Re: Is Bitcoin in a DotCom recovery phase?

August 17, 2018, 02:25:07 AM

#20

Quote from: aoluain on August 15, 2018, 03:55:11 PM
I also think the alt coin bubble will burst, there is indeed far too many
alts going nowhere. I have mentioned in a thread about the idea of
liquidating useless alt coins back into something usefull like Bitcoin.

There will be a benefit to altcoins dying, it will result in an increase
in bitcoin market share.

The sad reality of this is that many of these so called useless altcoins will be worth zero satoshis if there is ever any attempt to liquidate back into bitcoin!

Kakmakr

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Re: Is Bitcoin in a DotCom recovery phase?

August 17, 2018, 01:46:25 AM

#19

Quote from: rccirfan on August 16, 2018, 11:04:26 AM
New technologies that shift the paradigm take a long time to really understand. The narrative around bitcoin is still really hard to grasp. Really the only metric we have for most cryptocurrencies is the price, and price is such an imperfect metric. What does actual utilization look like? That’s really the struggle for crypto right now.

This is actually what sets Bitcoin apart from it's rival Alt coins. Bitcoin is currently backed by a much larger network of users and merchants that supports it, but these Alt coins are built around 1 or 2 solutions and a small network of merchants and users.

The Bigger companies during the DotCom bubble had a stronger user base and focussed on multiple applications and solutions. The smaller companies was mostly hyped and built around single solutions and when the economy started to collapse, they took the biggest damage and they could simply not recover.

bintangkejoraku

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Re: Is Bitcoin in a DotCom recovery phase?

August 16, 2018, 11:47:17 AM

#18

there is no recovery phase at this time, even the bear market continues to this day. Bitcoin prices are still not safe, bitcoin prices can go down very far at any time.

rccirfan

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Re: Is Bitcoin in a DotCom recovery phase?

August 16, 2018, 11:04:26 AM

#17

New technologies that shift the paradigm take a long time to really understand. The narrative around bitcoin is still really hard to grasp. Really the only metric we have for most cryptocurrencies is the price, and price is such an imperfect metric. What does actual utilization look like? That’s really the struggle for crypto right now.

Ctn

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Re: Is Bitcoin in a DotCom recovery phase?

August 16, 2018, 10:40:54 AM

#16

Somehow I don't see any significance of the bitcoin and altcoins comparison here. Bitcoin gets hampered with altcoins for sure but the intensity of that happening has got very much less possibility. I mean bitcoin no matter what always receives the first investment or first hand and then people divert themselves to the altcoins. Most of the time people get scammed with the altcoin investment and then finally they come back and sit into bitcoin only. Thats how this happens or works really, and I see no threat to the bitcoin at all.
Its not recovery phase but the usual cyclic change in the bitcoin and other currencies that we see every year at the end of Q3-4 period.
Thats just my opinion here.

Theb

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Re: Is Bitcoin in a DotCom recovery phase?

August 16, 2018, 09:09:54 AM

#15

Bitcoin also took a big hit from this bear market its just that it is considered as a safe haven for a lot of traders during the bear market that is why the gap from other cryptocurrencies is getting bigger as a lot of traders/investors are pulling out there money from altcoins and putting it in to BTC. But for altcoins being left out by BTC when it recovers, I don't think that it will happen even though the gap has widened this altcoins won't be left out, and maybe by the time the market is about to recover holders who have bought BTC as their temporary shelter might buy back their old cryptocurrency holdings as they know that a BTC price rally will signal the whole market to go on a price rally too, just like what happened last December.

FreeEarnsActivist

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Re: Is Bitcoin in a DotCom recovery phase?

August 16, 2018, 09:02:30 AM

#14

I like this theory, we've had a huge bubble which bursted and we're back to normal development levels.

paynercash

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Re: Is Bitcoin in a DotCom recovery phase?

August 16, 2018, 08:32:31 AM

#13

Quote from: PIMPdev on August 15, 2018, 12:31:42 PM
I told that bitcoin is not the bubble and get will rise from the Ashes like you have said, but for now we're having only suffering and we've been on the bitcoins grave. And who knows how long it will last.
Every difficulty has a solution. Anything can be done just as you believe it will be. Rest assured an electronic money market based on blockchain technology is quite okay. And it's hard to think like you think, live and think positive will be okay.

Dontme

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Re: Is Bitcoin in a DotCom recovery phase?

August 16, 2018, 07:33:01 AM

#12

Quote from: Kakmakr on August 15, 2018, 02:59:17 AM
Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.html

The Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst.

I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt.

Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?

What do you think?
I think so, hopefully the this will be the start of recovery of bitcoin and will be the start of recovery of all coins since we are now entering the most a waited BER months. I believe bitcoin will make us again happy.

Kakmakr

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Re: Is Bitcoin in a DotCom recovery phase?

August 16, 2018, 07:27:28 AM

#11

Quote from: gentlemand on August 15, 2018, 04:27:55 PM
Quote from: eternalgloom on August 15, 2018, 06:51:55 AM
From the article:
Quote
Despite bitcoin's aspiration to be a safe haven asset, the cryptcurrency has not seen a rally with the stumble of the Turkish lira.

Now this is also something I'm curious about, I mean we did see an increase in volume on Turkish Bitcoin exchanges, but this hasn't resulted in the overall increase in price.

Why the hell would the average Turk bother when they can go and get some Euros or Dollars? It just doesn't make any sense if you're talking about serious wealth preservation. Bitcoin is no more than a plaything. It's not any type of safe haven and won't be for a long time.

It's the same as Greece and Cyprus. I'll bet at least 10 real Greeks or Cypriots bought Bitcoin during their crises. The rest of the associated rise was the same old pumpers using it as an excuse to get excited.

I will disagree with you on that. I personally helped a lot of people from Greece, when they asked for help on public forums and one organization even employed more people during that crisis to help with the adoption phase. < Paxful>? https://bitsonline.com/greece-bitcoin-economic-turmoil/

The thing is, we are steering off-topic with this discussion now, because I want to hear your opinion on Alt coin surviving in a DotCom type of scenario.

gentlemand

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Re: Is Bitcoin in a DotCom recovery phase?

August 15, 2018, 04:27:55 PM

#10

Quote from: eternalgloom on August 15, 2018, 06:51:55 AM
From the article:
Quote
Despite bitcoin's aspiration to be a safe haven asset, the cryptcurrency has not seen a rally with the stumble of the Turkish lira.

Now this is also something I'm curious about, I mean we did see an increase in volume on Turkish Bitcoin exchanges, but this hasn't resulted in the overall increase in price.

Why the hell would the average Turk bother when they can go and get some Euros or Dollars? It just doesn't make any sense if you're talking about serious wealth preservation. Bitcoin is no more than a plaything. It's not any type of safe haven and won't be for a long time.

It's the same as Greece and Cyprus. I'll bet at least 10 real Greeks or Cypriots bought Bitcoin during their crises. The rest of the associated rise was the same old pumpers using it as an excuse to get excited.

arpon11

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Re: Is Bitcoin in a DotCom recovery phase?

August 15, 2018, 04:20:46 PM

#9

Quote from: Kakmakr on August 15, 2018, 02:59:17 AM
Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.html

The Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst.

I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt.

Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?

What do you think?
I think bitcoin is quite different from the dotcom bubble that happened some years ago. I have tried to understand how this cryptocurrencies market work and one thing that I have learned is that bitcoin and altcoins are the future of our capital and money market.

aoluain

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Re: Is Bitcoin in a DotCom recovery phase?

August 15, 2018, 03:55:11 PM

#8

I also think the alt coin bubble will burst, there is indeed far too many
alts going nowhere. I have mentioned in a thread about the idea of
liquidating useless alt coins back into something usefull like Bitcoin.

There will be a benefit to altcoins dying, it will result in an increase
in bitcoin market share.