ITT: People who bought BTC last November. Easier to spot than a vegan in a steakhouse
Topic: What a horrible time for Crypto (Read 1467 times)
ITT: People who bought BTC last November. Easier to spot than a vegan in a steakhouse
As the cliche goes, it's always darkest before the dawn. The timing on this thread is odd, given BTC spiked up over 10% yesterday and most alts have rebounded as well. And every time I get depressed about my crypto holdings and wonder if cryptocurrency will shrivel up and die, I think about the alternative (fiat currency), and start laughing my head off. No chance. For all the trouble crypto faces - and we still have a lot of work to do - it is still far superior to fiat.
There will be some shakeouts in which hundreds of clonecoins and 2nd-rate coins go through a bloodbath. But BTC cannot fulfil all the promise of cryptocurrency itself. Its slow confirmation times (compared to every other alt out there) and innovations like the asset exchanges and various anonymity schemes will all drive continuing and growing demand for a 2nd tier of cryptocurrency behind the market leader. That's not really apparent yet from the market cap records this year, but it's a prediction I'm comfortable with. You just have to figure out the best-in-class alts in niches that hold real value.
For whatever reason (summer vacations and warm weather taking people away from their desks staring at altcoin exchange screens?), the last few months have been hard on crypto. We'll see if fall of 2014 repeats fall of 2013. I think there's a decent chance it will.
There will be some shakeouts in which hundreds of clonecoins and 2nd-rate coins go through a bloodbath. But BTC cannot fulfil all the promise of cryptocurrency itself. Its slow confirmation times (compared to every other alt out there) and innovations like the asset exchanges and various anonymity schemes will all drive continuing and growing demand for a 2nd tier of cryptocurrency behind the market leader. That's not really apparent yet from the market cap records this year, but it's a prediction I'm comfortable with. You just have to figure out the best-in-class alts in niches that hold real value.
For whatever reason (summer vacations and warm weather taking people away from their desks staring at altcoin exchange screens?), the last few months have been hard on crypto. We'll see if fall of 2014 repeats fall of 2013. I think there's a decent chance it will.
If only we were still up over 400% since a year ago. Oh wait...
Not just with bitcoin drops, and not only with all the altcoin scams, but just cryptocurrency as a whole is just extremely 'meh'.
What a horrible time for Crypto. No wonder people have been cashing out of alts and converting BTC to fiat for the past few weeks. No wonder alt market scene's volume is laughable compared to what it was just 2 months ago.
The smart ones dropped crypto weeks ago and is now sitting on fiat waiting for this phase to end while slowly accumulating cheap Bitcoins.
The dumb ones are the one continuously trading large BTC amounts in the alt scene constantly losing money by the day.
I feel sorry for all the noobs now just stepping in to Crypto. Literally the worst possible time..and dont get me started of how much worse its going to get if this 'expected' Bitcoin bubble doesnt come through..
What a horrible time for Crypto. No wonder people have been cashing out of alts and converting BTC to fiat for the past few weeks. No wonder alt market scene's volume is laughable compared to what it was just 2 months ago.
The smart ones dropped crypto weeks ago and is now sitting on fiat waiting for this phase to end while slowly accumulating cheap Bitcoins.
The dumb ones are the one continuously trading large BTC amounts in the alt scene constantly losing money by the day.
I feel sorry for all the noobs now just stepping in to Crypto. Literally the worst possible time..and dont get me started of how much worse its going to get if this 'expected' Bitcoin bubble doesnt come through..
TL;DR
Bitcoin shilling
because the market has dried up.
"come on guyz buy Bitcoin from me at the price i say is the market price"
The last two weeks have shown us downfall for most of the coins including bitcoins. BTC however is recovering fast now. Not a problem anymore.
Not just with bitcoin drops, and not only with all the altcoin scams, but just cryptocurrency as a whole is just extremely 'meh'.
What a horrible time for Crypto. No wonder people have been cashing out of alts and converting BTC to fiat for the past few weeks. No wonder alt market scene's volume is laughable compared to what it was just 2 months ago.
The smart ones dropped crypto weeks ago and is now sitting on fiat waiting for this phase to end while slowly accumulating cheap Bitcoins.
The dumb ones are the one continuously trading large BTC amounts in the alt scene constantly losing money by the day.
I feel sorry for all the noobs now just stepping in to Crypto. Literally the worst possible time..and dont get me started of how much worse its going to get if this 'expected' Bitcoin bubble doesnt come through..
So what bothers you exactly? That Bitcoin isn't jumping. Is volatility better for you than stability?What a horrible time for Crypto. No wonder people have been cashing out of alts and converting BTC to fiat for the past few weeks. No wonder alt market scene's volume is laughable compared to what it was just 2 months ago.
The smart ones dropped crypto weeks ago and is now sitting on fiat waiting for this phase to end while slowly accumulating cheap Bitcoins.
The dumb ones are the one continuously trading large BTC amounts in the alt scene constantly losing money by the day.
I feel sorry for all the noobs now just stepping in to Crypto. Literally the worst possible time..and dont get me started of how much worse its going to get if this 'expected' Bitcoin bubble doesnt come through..
A horrible time for crypto was those few days that all altcoins were falling but that is over for now. They have started bouncing back up and slowly growing.
People are too impatient here that's the issue. Otherwise nobody would ever sell a coin that he invested in earlier (to hold) just because the price went don't temporarily.
I feel sorry for all the noobs now just stepping in to Crypto. Literally the worst possible time..and dont get me started of how much worse its going to get if this 'expected' Bitcoin bubble doesnt come through..
I was buying American stocks starting November 2008, and buying Canadian gold exploration juniors in March 2009. Would you have felt sorry for me then?
If only we were still up over 400% since a year ago. Oh wait...
It's the summer. I wouldn't be surprised if we see a repeat of last Nov in the next couple of months. Even if it isn't as drastic, coinmarketcap will certainly look a lot greener in a couple of months than it does today 
last summer was the same? i was not here around like this year
edit...oh you are form this year lol
free electricity kills cryptos?
this is right, free power with giant farm, then can mine forever(if they made roi of course), nothing to lose
I'm mostly talking about new traders coming in.
Pro traders will always make money regardless of the market situation.
Noob traders 5-6 months ago could lose 50% of capital one day, and literally make 200% ROI the next. Before you can shrug a 50% loss knowing in just a few days you can make it all back and then some. Today, such a feat is nowhere near as easy.
Nowadays ROIs smaller and trades overall are riskier. I miss the 3000+ BTC pump days.
Bitcoin pls reversal soon..
Pro traders will always make money regardless of the market situation.
Noob traders 5-6 months ago could lose 50% of capital one day, and literally make 200% ROI the next. Before you can shrug a 50% loss knowing in just a few days you can make it all back and then some. Today, such a feat is nowhere near as easy.
Nowadays ROIs smaller and trades overall are riskier. I miss the 3000+ BTC pump days.
Bitcoin pls reversal soon..
It's the summer. I wouldn't be surprised if we see a repeat of last Nov in the next couple of months. Even if it isn't as drastic, coinmarketcap will certainly look a lot greener in a couple of months than it does today
lol not if you invested in NLG at the start. TBH never seen anything like it, it's now officially the top country coin.
Question is for how long.
I have never seen any country coin last longer than 6 months before it go bust.
HUm.....
BBQcoin, Feathercoin, Litecoin, Primecoin, Peercoin... should I go on?
The sellers you are talking about are panic ones. They have no idea how market works nor they have experience with bitcoins/crypto
free electricity kills cryptos?
lol not if you invested in NLG at the start. TBH never seen anything like it, it's now officially the top country coin.
Question is for how long.
I have never seen any country coin last longer than 6 months before it go bust.
there wasn't country coins before...
I think its a fine time to enter crypto. anyone interested in swing trading or shorting bitcoin well its had % change swings of 25% or more in the past week. without any real news to say its going one way or the other.
Anon is mostly figured out through cryptonote, XC, or Dark for anyone who cares about hiding their tracks.
Decentralized marketplaces are in their infancy. (bitshares, Aero, and everybody else trying to get something off the ground)
we're seeing app based blockchains (gameleaguecoin, mangocoin, hyper)
we are at the beginning of commodity backed coins (uro's billion dollar backers with their urea, cann's 4acre grow operation)
Aren't you guys happy we moved on from meme based coins? Maybe I'm blind but the rampant copycloning seems to have tapered off. every coin was a meme, then every coin was a country, then every coin had a color then every coin was pos then every coin was ipo then every coin was anon then every coin had a new algo, and every algo had a plain & pos & anon & ipo release. We will still see these things.
I'm happy that the devs have continued to innovate theres a million ideas being kicked around. Theres tons of open source code to do some really innovative things I cant wait to see what they turn out to be!
Top 10 at bittrex $300,000 in trades in last 24 hours
Poloniex last 24 hour trades $150,000
Top 10 at Bter $275,000 in trades in last 24 hours
13.4 million worth of bitcoin have changed hands in last 24 hours.
Maybe your just depressed, and yeah theres been some crap in the past months. I dont see any reason people shouldnt be positive overall... Blockchain tech works, its being adopted, maybe the coin your involved in wont be there in the end, but some form of it will!
Awesome reply. I agree. This is a great time. You want to buy low? Buy now.
Will there be some consolidation? Are they too many coins and too much junk? Yes, probably. So pick winners. Avoid pump-and-dumps. Take some time to really understand what you are buying.
Not just with bitcoin drops, and not only with all the altcoin scams, but just cryptocurrency as a whole is just extremely 'meh'.
I agree. I think education would have been necessary but it looks like everybody is happier with just making crowds happy.This "be happy, be friendly be with us BECOME RICH" is what's hurting them all in my opinion.
There is at least one coin which would deserve more recognition but it's lost is a sea of apparent evolution.
lol not if you invested in NLG at the start. TBH never seen anything like it, it's now officially the top country coin.
Question is for how long.
I have never seen any country coin last longer than 6 months before it go bust.
there wasn't country coins before...
I think its a fine time to enter crypto. anyone interested in swing trading or shorting bitcoin well its had % change swings of 25% or more in the past week. without any real news to say its going one way or the other.
Anon is mostly figured out through cryptonote, XC, or Dark for anyone who cares about hiding their tracks.
Decentralized marketplaces are in their infancy. (bitshares, Aero, and everybody else trying to get something off the ground)
we're seeing app based blockchains (gameleaguecoin, mangocoin, hyper)
we are at the beginning of commodity backed coins (uro's billion dollar backers with their urea, cann's 4acre grow operation)
Aren't you guys happy we moved on from meme based coins? Maybe I'm blind but the rampant copycloning seems to have tapered off. every coin was a meme, then every coin was a country, then every coin had a color then every coin was pos then every coin was ipo then every coin was anon then every coin had a new algo, and every algo had a plain & pos & anon & ipo release. We will still see these things.
I'm happy that the devs have continued to innovate theres a million ideas being kicked around. Theres tons of open source code to do some really innovative things I cant wait to see what they turn out to be!
Top 10 at bittrex $300,000 in trades in last 24 hours
Poloniex last 24 hour trades $150,000
Top 10 at Bter $275,000 in trades in last 24 hours
13.4 million worth of bitcoin have changed hands in last 24 hours.
Maybe your just depressed, and yeah theres been some crap in the past months. I dont see any reason people shouldnt be positive overall... Blockchain tech works, its being adopted, maybe the coin your involved in wont be there in the end, but some form of it will!
good post, especially on this part :
Quote
we're seeing app based blockchains (gameleaguecoin, mangocoin, hyper)
This things will bring crypto to the mass
The dumb ones are the one continuously trading large BTC amounts in the alt scene constantly losing money by the day.
Uh no...
Traders are catching 35% 3 day moves in LTC... or a 50% 3 day move in BC.
Actually, pro traders almost never stop trading and don't "lose money"...
They tend to break even in soft markets by constantly capturing that spread...
And are then very well positioned for market rallies.
Now with swaps and endless other derivatives on the way at Bitfinex, etc...
There will always be a way to make money.
Sitting on the sidelines just makes one out-of-touch.
Not just with bitcoin drops, and not only with all the altcoin scams, but just cryptocurrency as a whole is just extremely 'meh'.
What a horrible time for Crypto. No wonder people have been cashing out of alts and converting BTC to fiat for the past few weeks. No wonder alt market scene's volume is laughable compared to what it was just 2 months ago.
The smart ones dropped crypto weeks ago and is now sitting on fiat waiting for this phase to end while slowly accumulating cheap Bitcoins.
The dumb ones are the one continuously trading large BTC amounts in the alt scene constantly losing money by the day.
I feel sorry for all the noobs now just stepping in to Crypto. Literally the worst possible time..and dont get me started of how much worse its going to get if this 'expected' Bitcoin bubble doesnt come through..
What a horrible time for Crypto. No wonder people have been cashing out of alts and converting BTC to fiat for the past few weeks. No wonder alt market scene's volume is laughable compared to what it was just 2 months ago.
The smart ones dropped crypto weeks ago and is now sitting on fiat waiting for this phase to end while slowly accumulating cheap Bitcoins.
The dumb ones are the one continuously trading large BTC amounts in the alt scene constantly losing money by the day.
I feel sorry for all the noobs now just stepping in to Crypto. Literally the worst possible time..and dont get me started of how much worse its going to get if this 'expected' Bitcoin bubble doesnt come through..
The community will miss your educated insights. Good luck with the alternative market investments - I suggest picking up some rhodium. http://www.ebay.com/itm/Rh-On-the-Rise-1-oz-Rhodium-Bullion-999-Pure-Rhodium-Bar-with-Assay-/301259331860?pt=US_Other_Metals&hash=item4624749914
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