Topic: this is just sad (Read 2785 times)

It is not yet the end, I'm still and will always be a bitcoin believer. That is just for now and I know it will recover again. Don't be sad because sometimes it really happens. Just have faith on it, those user who are shifting will go back to BTC.

Yeah, a lot of people have moved their wealth into altcoins recently which is really quite saddening to see as a bitcoin believer.

However, i am actually thinking of doing the same myself because I cannot cop the suspense of the price. I don't have that many bitcoins but i do have a little at least that i care about, as it is still hard earned money.

I'm going to probably try buying a few Ethereum just to hedge against the fork.

But anything that is 70% or less for bitcoin dominance, means something is wrong.

$100 fee? quite dubious.  who would pay $100 when there's so much competition that is orders of magnitude cheaper?

In my opinion (everyone is entitled to his without solicitation, and that's acceptable as long as the opinion is not complete junk)...
1. The reason why people are buying Dash and Ethereum is not because Dash and Ethereum are better than Bitcoin, but because their prices are rallying. If the prices are not rallying, who would care if Dash and Ethereum are better (no, they are not). To say that Dash and Ethereum are better because of so and so is just finding justifications for buying into them.
2. The destiny/future/outcome of Bitcoin depends very much on the Powers That Be, specifically what the VC that invests $75 mil in Blockstream, wants for Bitcoin. Function as currency? Function as payment layer? I believe even if Bitcoin ultimately functions as just a payment layer, its investment prospect remain extremely large. Considering the fact that Core developers said transaction fee of $100 can be possible, this statement we can put into perspective on what the future value of Bitcoin could be. If transaction fee is fixed at 20,000 satoshis and this is equivalent to $100 (or maybe $50), then what may be the price of 1 Bitcoin in the future? $500,000 (or $250,000 for $50 fee)? This could be possible simply because if the price of Bitcoin does not follow the transaction fee, then NOBODY would use Bitcoin and the transaction fee of $100 would not even materialize. For it to materialize the price of Bitcoin will need to be at astronomical level for the whole thing to be commercially viable.

It is completely flawed logic. Marketcap matters in congruence with market Volume. If the average holder can get their buy/sell orders filled at the asking price you have a real market. Furthermore, the average user should be able to sell all their holding without moving the market much if at all. Good luck selling 5 trillion coins at $1 a piece. There are many shitcoins out there where whales have socked away most of the coins and then conduct pump and dumps. In that case, I do agree, paying attention to marketcap would be unwise.

Its not sad, it just means that there's more coins out there now.

Next day ETH is bumping up against its all time high USD.  Dash is a very different coin, way too high though. ETH has a long ways to go...

That's a great call! Yes, ETH and DASH prices was running mad and it is time for some correction. What do you think the support levels for ETH and DASH would be to close the shorts and to go long. What are the chances for DASH to fall below $60 ? I think ETH can correct to 40 or $35 levels and stabilize imo.

But some people still consider to buy alts from its marketplace so it's not obvious.

That was a bit of a panic run, technically we still base on Bitcoin prices so the diversification has stabilized for now.
As long as the sales pitch is don't worry we wont blow up else our lingua franca is in flux and it becomes we have to change the coin we base other coins upon.

(That said owning a bit of each currency is a good hedge)
As long as poloniex doesn't run with the coins or whatever online exchange your using since syncing .... 30 or so wallets and blockchains to your PC is hellish.

Agree 100%, market cap is a meaningless number.
Its good that altcoins exist, its like beta tests for possible new features in bitcoin.

The true sadness is to not just increase the block size and end all that drama ... At least those alts, and I'm not only talking about Dash, are trying to offer something better : governance, fast transaction, anonymity ...

this is partially true, there is no way to figure the exact amount of the money sitting in all the exchange, maybe they are not 16B like the bitcoin marketcap, but they are not only millions either

last time i've checked all exchange combined are sitting on a large amount of bitcoin, more than millions in number, so the real marketcap is not so far away from the one reported in coinmarketcap

So what altcoin price increase ETH dash steem?
Choosing altcoin rather than bitcoin that is true sadness.

The sad thing will be when the pumpsters withdraw their investment in Alt coins like Ethereum & Dash and the sheep are left over with the empty bags. A lot of speculators are spreading FUD about Bitcoin in the hope that people would run to Alt coins and they were fairly successful so far, but this will come down hard very soon. ^sad^

Big hope = Big tears

There goes ETH.



2 for 2 on my calls. Maybe I should get back into trading.

Its not that hard to tell when someone is conning people into buying their overpriced junk coins & the price will decrease as a result.

Overhyping failed ventures & artificially pumping price to unload troubled assets on an unsuspecting public is an extremely common profiteering tactic in the investment world.

Even banks like goldman sachs screw over entire countries like greece using the very same methods.

every gets excited about ethers and then the reality of the high inflation and a a possible extended bear market sets in as there's simply not enough buyers to keep up with supply. 

Looks like dash is crashing.

1/2 on my calls.



(Wonder if eth will do the same.)

This game is almost too easy sometimes.

This is the best response to the question, I can see some people borrowing BTC at 0.25% per day to pump some Altcoins, this can only end one way for them because they can't sustain the price

How did you know about it? Well if that so, its their choice to moved their bitcoin into altcoin. But in my case no problem, since i bitcoin is very progressive and famous currency in the market, then i'll stick to one on it no matter what, it don't really matter for me the value or price of bitcoin (if high or low) as long as im enjoying, happy using it, bitcoin is a trustworthy one and can give me freedom in some many like making some transactions.