https://i.imgur.com/TSr5w6s.png
Topic: Is the Era of P&D Over for Crypto 'Blue Chips'? (Read 3906 times)
nothing, but nothing, presently justifies its valuation. there's no more usage than there was a few months ago.
at the same time when you look at figures like coinbase published recently about new users and the japanese banks applying to create crypto exchanges, the weight of newcomers might well cancel out the possibility of major dumps.
it depends on whether they keep on coming and we end up with an eternal september situation. but sooner rather than later all these coins need to actually deliver something tangible.
and thread titles reminds me of two phrases - 'this time it's different' and 'new paradigm' and we all know what happens next when they're thrown around.
Yes no doubt the new comers are the main reason to make the bitcoin price from any dump as we know that the bitcoin price is determined by the number of its users and the people adopting and accepting the Bitcoin now are the main reason for the price to cross $2400. Hurrah! at the same time when you look at figures like coinbase published recently about new users and the japanese banks applying to create crypto exchanges, the weight of newcomers might well cancel out the possibility of major dumps.
it depends on whether they keep on coming and we end up with an eternal september situation. but sooner rather than later all these coins need to actually deliver something tangible.
and thread titles reminds me of two phrases - 'this time it's different' and 'new paradigm' and we all know what happens next when they're thrown around.
A really honest article sharing first hand experience and expectations that starts out looking like more unequivocal evidence for continued massive fiat money flow into crypto, but that ends up being an extremely well balanced and down-to-earth look at Bitcoin and crypto in general. A must read IMO.
http://www.zerohedge.com/news/2017-05-29/one-professional-investors-take-bitcoin
Zerohedge is an alternative financial media heavyweight outside of the crypto "ecosystem".
Let the comments come in, but let's keep them backed up with rational arguments - there's lot's here to be seriously debated, and childish memes and cheeky one-liners are a thing of the past for serious crypto "shareholders".
One of my initial comments goes to the idea that the supply of virtual currencies is infinite, to which I would suggest we add the words "safe and secure cryptographic" and then reconsider whether the supply of safe and secure cryptographic virtual currencies really is infinite, even theoretically.
Just one of many very interesting points made.
What do you think? Just another pump and dump? Across the entire complex? Or a full on panic sell by recent fiat buyers who know very little, bought at the highs and are now selling at panic lows? For the rest of us who've been around the block a couple of times and know better, just remember, this will be seen as a blip.
https://i.imgur.com/kVh4p5H.png
At this stage, buy, hodl and continue to steadily buy (cost averaging) seems to be the best approach. And perhaps a gamble on some old alts and blockchain 2.0 projects if you have real money to invest.
Some thoughts on were this can go (please disregard the attacks on WS, focus on the potential): https://libertyblitzkrieg.com/2017/05/25/a-new-financial-system-is-being-born/
Some thoughts on were this can go (please disregard the attacks on WS, focus on the potential): https://libertyblitzkrieg.com/2017/05/25/a-new-financial-system-is-being-born/
Great article, attacks and all! A must read. Thanks.
At this stage, buy, hodl and continue to steadily buy (cost averaging) seems to be the best approach. And perhaps a gamble on some old alts and blockchain 2.0 projects if you have real money to invest.
Some thoughts on were this can go (please disregard the attacks on WS, focus on the potential): https://libertyblitzkrieg.com/2017/05/25/a-new-financial-system-is-being-born/
Some thoughts on were this can go (please disregard the attacks on WS, focus on the potential): https://libertyblitzkrieg.com/2017/05/25/a-new-financial-system-is-being-born/
While a fair argument is presented, the op makes an argument as if the people will just make rational choices when it comes tot heir money and anyone that has seen a person buying something out of impulse knows that is simply not true, there are always going to be pumps and dumps.
I think the assumption is that the more price increases, the less feasible it is to manipulate price, and as more and more fiat comes into crypto causing the subsequent revaluations of the best issues, manipulation will be much less likely in those issues reaching "fair value". The crux of this thread deals with whether there is currently appreciable fiat coming into crypto, just how big it is, and its sustainability. If those questions are answered in positive, then the question then revolves around the resulting effects: whether it brings stable prices and the end of P&D for those "blue chips", or not. We all know it will happen, the question is when, and I postulate that it is happening now with the best of the best. Second tier and third tier issues will have to wait (and, as I've said in this thread before, they will still be susceptible to P&D while they wait their turn . . . those that will survive, that is). By no means do I suggest that human nature is going to change! Not even with the manipulators whose greed will probably get more than a couple turned on their heads trying to "pump" the impossible, or just selling way too soon and then chasing at minor tops, etc. Human nature change? Not in the least! And not with the manipulators either! In fact, I expect to hear stories about whale accounts blowing up! To be sure, we will still see panic buys and panic sells - just look at Apple's long term chart for an example - but it won't be due to coordinated manipulation since it will simply be too costly to do so.
Those are the questions being addressed in this thread, and the better we can answer them, the more appropriately we will be able to position ourselves. For example, what would be the best strategy now for the average crypto enthusiast to employ with the very best issues? Sell and wait for a 70-80% pullback, or simply buy and hold? When was the last time we saw a 70% + pullback in BTC? Does anyone think that will ever happen again? (BTW, that wasn't market manipulation either - it was simple mass psychology taking fear to an extreme - human nature - but not manipulation, which is a very different thing).
The world is changing rapidly, what we are proud of 10 years ago looks outdated, I'm sure today is the era of cryptocurrency that will overcome the traditional financial system.
While a fair argument is presented, the op makes an argument as if the people will just make rational choices when it comes tot heir money and anyone that has seen a person buying something out of impulse knows that is simply not true, there are always going to be pumps and dumps.
Looking at the potential of crypto networks, I would say we still have 10-50x ahead, generally speaking.
We hope so. Try to hold your coin and do not sell it. every coin will soon be pumped. All we need is to hodl hodl and hodl. I have just lost 1 bitcoin from trading but I will still keep my coins and do not sell it
Looking at the potential of crypto networks, I would say we still have 10-50x ahead, generally speaking.
As promised, the answers for what eventually happened to the “parabolic” teasers I posted yesterday and who they are.
Putting things into context is always extremely useful. Nonetheless, in spite of the evidence and comparisons I’ve presented, the main question of this thread as to “where we are in crypto in terms of longer term context” still remains largely unanswered.
I’d love to hear your opinions, both pro and con. Are you more convinced than ever?
https://i.imgur.com/qe1R2RC.jpg
If you’re interested in taking a closer look at these examples on you own, or any other you may prefer (an interesting side note is that many a top gainer going into 2000 no longer exists so you won’t be able to find them here . . . anyone got any ideas about your favorite crypto Studebakers? ). Here’s the link: https://www.investing.com/charts/real-time-stocks-charts
I really think the era of pump and dump is over and the day Chinese lost control of decided when price of bitcoin should go up or come down was the day that circle stop. We the bitcoin enthusiasts has try to tells people around us to see bitcoin as a currency of future and now they are regretting not investing earlier.
The pump and dump era is over for bitcoin only and this is good news.
Unfortunately there are hundreds of altcoins and lots of crypto "gamblers" and "investors".
They all feed the pump&dump "business".
Total market cap is still less than 10 percent of Apple’s market cap. That’s just Apple, and just to name a very famous case that is often cited when making relative comparisons of public companies. Now, put Apple into the relative context of a 13 trillion dollar M2 money stock just in the US (more than 50 trillion developed economies combined money stock), and it’s just a drop in the ocean.
https://fred.stlouisfed.org/series/M2
https://en.wikipedia.org/wiki/Money_supply
This image is perfect to show the current state of things (well, this image is now outdated, but it still shows that bitcoin is tiny compared to the sea of actual potential money that could jump in)
http://image.ibb.co/g8OMYF/money.jpg
Current Marketcap for Bitcoin is a bit under 40 billion, so it shows how Bill Gates net worth is bigger than the entire Bitcoin Marketcap which is nuts. The potential for growth on Bitcoin is still huge.
Im not sure about altcoins, but im sure they will go way higher too because everyone wants to get on "the next bitcoin" and people will not only buy bitcoin, but other cryptos as well, but I dont see bitcoin stopping from being #1. The banks are pumping ETH a lot tho.
And with altcoins included, the total market cap is right around 80 billion right now, equaling Bill Gates. As you say, just nuts. Especially when you put Bitcoin's "square" next to what it's really competing to be a small part of, i.e. Broad Money. There's room for growth!
If we accept the assumption that mass adoption is all but certain for BTC, then I think we can do the same for a limited number (let's say the "Dow 30" of crypto
) of alts, and I think quite justifiably since there will be many niches to fill. All the top coins have demonstrated that they think "blockchain" success means niche specialization by their own targeting of niches. In short, I believe it's a niche game, and one of the keys for the investor is identifying who's going to be #1 in each niche. Bitcoin's got the store of wealth niche, but other's might make a claim on that territory as well, thereby illustrating crossover strategies at work with some even going so far as to shoot for one-stop servicing, but I'm not sure as to with how much success (perhaps more likely a few more years from now). Bitcoin is to the Bank, what Litecoin is to the Savings and Loan types of analogies are often heard these days. Those are two slightly different but very similar slices of the market. Beyond that you've got for profit concepts from secure contracts to online currency exchanges, even social networks, all based on blockchain technology that "shareholders", as they're sometimes called, actually own, and that's extremely liquid. When you think about it, it's a marvelous example of private incentivized innovation. 
I really think the era of pump and dump is over and the day Chinese lost control of decided when price of bitcoin should go up or come down was the day that circle stop. We the bitcoin enthusiasts has try to tells people around us to see bitcoin as a currency of future and now they are regretting not investing earlier.
The pump and dump era is over for bitcoin only and this is good news.
Unfortunately there are hundreds of altcoins and lots of crypto "gamblers" and "investors".
They all feed the pump&dump "business".
Total market cap is still less than 10 percent of Apple’s market cap. That’s just Apple, and just to name a very famous case that is often cited when making relative comparisons of public companies. Now, put Apple into the relative context of a 13 trillion dollar M2 money stock just in the US (more than 50 trillion developed economies combined money stock), and it’s just a drop in the ocean.
https://fred.stlouisfed.org/series/M2
https://en.wikipedia.org/wiki/Money_supply
This image is perfect to show the current state of things (well, this image is now outdated, but it still shows that bitcoin is tiny compared to the sea of actual potential money that could jump in)
Current Marketcap for Bitcoin is a bit under 40 billion, so it shows how Bill Gates net worth is bigger than the entire Bitcoin Marketcap which is nuts. The potential for growth on Bitcoin is still huge.
Im not sure about altcoins, but im sure they will go way higher too because everyone wants to get on "the next bitcoin" and people will not only buy bitcoin, but other cryptos as well, but I dont see bitcoin stopping from being #1. The banks are pumping ETH a lot tho.
So you will be showing random pictures of bubble-aftermaths?
It would be more interesting to know the future (bubble tops).
It would be more interesting to know the future (bubble tops).
You'll have to read what's come before in this thread, first to get situated, and then for the answer to your question, which you'll discover was a little out of touch with the subject being discussed - bubble tops are the antithesis of what is being proposed here.
So you will be showing random pictures of bubble-aftermaths?
It would be more interesting to know the future (bubble tops).
It would be more interesting to know the future (bubble tops).
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