It seems strange to me to compare two different things because with the same success cryptocurrency can be compared with a gold rush. No one knows what will happen to the altcoins in the future but at this stage it is obvious that they need new solutions and injections of money.
Topic: Why people compare it to 2000's dot com bust if that bust killed most companies? (Read 171 times)
December 11, 2019, 06:23:47 AM
December 10, 2019, 07:43:22 PM
If we look at the number of cryptocurrency in the market that reaches more than 4,500 in the coin marketcap, then it could be a buble burst happening in the cryptocurrency market. Of the more than 4,500 altcoins, in my opinion not many have products and are actively traded on the market so the opportunity for buble bursts is quite large
December 10, 2019, 06:55:59 PM
and most scary part is that those holders hold just to cash out, so the moment it reaches new ATH, most of them will probably sell 100% of their stash
since majority of people hold altcoins with such intent, how they will get other people who will buy it from them?
since majority of people hold altcoins with such intent, how they will get other people who will buy it from them?
For many coins that means they will never reach their ATH again. So if whales pump a coin, they may get some new investors just based on that pump ... but whales will dump early knowing they have earlier holders patiently waiting to dump as well.
December 10, 2019, 04:59:55 PM
Because they want to find out the reason why the market crashed. And I think that it perfectly also fits to the crypto market.
Economy works in cycles. Market was hyped in 2017 and after that big whales took profit and now we are back on low levels. New cycle could begin.
Economy works in cycles. Market was hyped in 2017 and after that big whales took profit and now we are back on low levels. New cycle could begin.
December 10, 2019, 03:07:03 PM
Because it was like that. Actually the ico market is very much like the internet bubble, because back then people were creating websites for every little thing, forming a company around it, and then either going public or selling out to a large corporation. In the ico market, tokens are being produced for all sorts of business sectors, most of which would *never* benefit from the blockchain.
And of course the crash part of it is similar, but that aspect is much like any bubble. People went crazy and poured all their money into bitcoin, drove up the price to $20,000 and then finally the buying stopped and prices fell, triggered panic selling, etc. Just like the internet bubble.
And of course the crash part of it is similar, but that aspect is much like any bubble. People went crazy and poured all their money into bitcoin, drove up the price to $20,000 and then finally the buying stopped and prices fell, triggered panic selling, etc. Just like the internet bubble.
December 10, 2019, 02:58:00 PM
and most scary part is that those holders hold just to cash out, so the moment it reaches new ATH, most of them will probably sell 100% of their stash
since majority of people hold altcoins with such intent, how they will get other people who will buy it from them?
since majority of people hold altcoins with such intent, how they will get other people who will buy it from them?
December 09, 2019, 09:29:35 PM
Quote
the fact that bitcoin makes sense, doesn't mean your altcoin will succeed
the fact that some specific altcoins are going up, doesn't mean your altcoin will go up
Make sense. A lot of investors were attracted and dance with the hype not realizing that the hype is just a trap for their coins. As we look at today, old altcoins particularly those altcoins that are famous before were not successful today. Companies are being deficit because they've chosen the wrong altcoins to support for.
With these, even if some altcoins were being created with possible have a strong use in crypto space, we have to accept that it wasn't like before that investors will gonna support it through out the way.
December 09, 2019, 06:21:06 PM
Do you see something in common? 95 percent of crypto currencies will die off, because of the lack of product, competent management and a well roadmap. The same happened to most companies back in 2000.
exactly, that's why saying "I hold my shitcoins because it's just the same as in 2000's and in some years im going to be rich" is not really a valid statement
most people who invested in dot com bubble lost money and even those that didn't sell lost money because they invested in wrong companies
it is even possible that cryptocurrency that will be biggest hit of next bubble was not yet even started
https://www.lombardiletter.com/companies-that-died-and-survived-the-dotcom-bubble/9106/
it's about how we can invest in the right companies. The same thing already applied in the crypto too and if we back again to the 2014 and we will get a lot of choice to invest in the what we have called that as major project right now while at that time the valuation is still worth nothing.
Bubble is about losers and winners.
December 09, 2019, 05:02:14 PM
Most altcoins and especially newer ones likely never taking off in the future is a big reason why my personal crypto portfolio's mostly dominated by Bitcoin and the other major alts I've picked like Ethereum. While I understand some peoples' plans of investing in tons of coins in the hopes that one might take off in the future, it's indeed rather risky and you might be stuck holding those coins for a while as the current crypto markets just don't look too great at all. A ton of coins that seem genuinely good for investment never take off too. It's pretty hard to pull off a good and profitable early investment.
December 09, 2019, 04:53:14 PM
statistically speaking, most of your (or mine, to be honest) portfolio is probably filled with future-bankrupts. I wonder why i keep HODLing it nevertheless...
I have sold off almost all the shitcoins i held I my wallet, when I started, just like most newbies at the beginning, I began with altcoins/icos, so i had alot of shitcoins that I held/stored in my wallet, waiting for them to boomerang to the top, now we all know that it's not going to happen, though selling them didn't give me anything profitable, but I had to dispose off them to concentrate fully on bitcoin.This crypto market cannot be compared to anything in the past, even if it could have similarities, for example people still compare it with the stock markets and other things, but if you're a bitcoin investor from down the years, you'll know that bitcoin is far different from them and maybe in years to come could be the number one investment plan for any investor.
Good that you sold early, there are many of these shit coins can't be sold again, imagine buying a token for $1 and the value is now $0.003 per token. A $10000 investment in project like Hybrid block is around $50 now, so it doesn't make any sense selling them just hope some of them is going to regain their values
December 09, 2019, 03:34:06 PM
Although there may be some similarities to the 2000s dot com bust, there are some key differences too. First off, a coin doesn't actually need a market or income to just keep chugging along ... unlike companies that kind of go out of business. There are tons of semi-comatose coins out there, with or without developers, not quite dead, and still sold on exchanges. So I'm not sure that most coins will exactly die, just that many will stumble along in a zombie state so long as exchanges exist.
December 09, 2019, 02:37:48 PM
Do you see something in common? 95 percent of crypto currencies will die off, because of the lack of product, competent management and a well roadmap. The same happened to most companies back in 2000.
Well, companies are companies while most of the crypto coins are set up by individuals or groups who don't represent a company. Nowadays that ratio is different, but in the past there weren't all that many companies with coins.Another thing is that crypto coins can't really die off because there will always be one or two exchanges coins trade on. BitconnectCoin for example, a totally busted scam and useless coin today, but it's still traded on a couple of exchanges.
December 09, 2019, 02:17:42 PM
Do you see something in common? 95 percent of crypto currencies will die off, because of the lack of product, competent management and a well roadmap. The same happened to most companies back in 2000.
exactly, that's why saying "I hold my shitcoins because it's just the same as in 2000's and in some years im going to be rich" is not really a valid statement
most people who invested in dot com bubble lost money and even those that didn't sell lost money because they invested in wrong companies
it is even possible that cryptocurrency that will be biggest hit of next bubble was not yet even started
December 09, 2019, 02:15:43 PM
Many people make this analogy or the Tulip Period analogy because people are no longer afraid to invest in new markets. When a general review is made of the people who make this analogy, it is concluded that these people are usually afraid of investing or not making money from this market. Even a person who is really successful and makes money from this market does not make such bad metaphors and never thinks negatively about the future of this market. It is for this reason that I do not care about the opinions of such people and do not take into consideration the suggestions and suggestions made by such people.
People that compare it to tulip period are not the same that compare it to internet bubble. Tulips didn't turn out to be groundbreaking discovery, while Internet did, so there is big difference I think
And in my opinion those that compare it forgot that so many people lost lots of money on the way.
December 09, 2019, 01:47:35 PM
Do you see something in common? 95 percent of crypto currencies will die off, because of the lack of product, competent management and a well roadmap. The same happened to most companies back in 2000.
December 09, 2019, 01:09:37 PM
I have doubts myself to the altcoins I have tried holding for years some of them were already de-listed in the exchanges while I was ready to dump them. Now I'm not even sure if the team are still able to make it, I can see the telegram channel are empty.
If the projects are going to make it for the next bullrun, I will still be keeping them after all its already there and might just keep them while I'm going to keep earning and trading until another bear market will come. The tokens that survives today I guess will also survive the next bear market.
December 09, 2019, 12:58:24 PM
So I sold all my investments. I only made a purchase plan for Bitcoin. I want to invest in ICOs again. However, Exchangeler is now organizing these works. There are many conditions for joining IEOs. Even if you have money, you can't join.
December 09, 2019, 12:46:29 PM
statistically speaking, most of your (or mine, to be honest) portfolio is probably filled with future-bankrupts. I wonder why i keep HODLing it nevertheless...
I have sold off almost all the shitcoins i held I my wallet, when I started, just like most newbies at the beginning, I began with altcoins/icos, so i had alot of shitcoins that I held/stored in my wallet, waiting for them to boomerang to the top, now we all know that it's not going to happen, though selling them didn't give me anything profitable, but I had to dispose off them to concentrate fully on bitcoin.This crypto market cannot be compared to anything in the past, even if it could have similarities, for example people still compare it with the stock markets and other things, but if you're a bitcoin investor from down the years, you'll know that bitcoin is far different from them and maybe in years to come could be the number one investment plan for any investor.
December 09, 2019, 12:03:11 PM
Many people make this analogy or the Tulip Period analogy because people are no longer afraid to invest in new markets. When a general review is made of the people who make this analogy, it is concluded that these people are usually afraid of investing or not making money from this market. Even a person who is really successful and makes money from this market does not make such bad metaphors and never thinks negatively about the future of this market. It is for this reason that I do not care about the opinions of such people and do not take into consideration the suggestions and suggestions made by such people.
December 09, 2019, 11:59:22 AM
I mean, most crypto bulls compare (with a lot of hope) current downturn to internet dot com bubble from 2000 https://en.wikipedia.org/wiki/Dot-com_bubble
I agree it seems similar, but are you aware most of those companies actually never survived it? They actually bankrupted and never restarted and people who invested in them, actually lost everything.
If you are holding your favorite alt - are you sure that this is alt that is in lucky 1% or so of the companies that are going to get through all this? Google was created after the bubble, only very few companis were at the top of the bubble, then went down and surived it (like Amazon did).
So chances that you are holding those lucky tickets are actually pretty slim. That includes me too unfortunately so I'm not here to spoil your mood, just trying to explain one crucial thing:
the fact that bitcoin makes sense, doesn't mean your altcoin will succeed
the fact that some specific altcoins are going up, doesn't mean your altcoin will go up
statistically speaking, most of your (or mine, to be honest) portfolio is probably filled with future-bankrupts. I wonder why i keep HODLing it nevertheless...
I agree it seems similar, but are you aware most of those companies actually never survived it? They actually bankrupted and never restarted and people who invested in them, actually lost everything.
If you are holding your favorite alt - are you sure that this is alt that is in lucky 1% or so of the companies that are going to get through all this? Google was created after the bubble, only very few companis were at the top of the bubble, then went down and surived it (like Amazon did).
So chances that you are holding those lucky tickets are actually pretty slim. That includes me too unfortunately so I'm not here to spoil your mood, just trying to explain one crucial thing:
the fact that bitcoin makes sense, doesn't mean your altcoin will succeed
the fact that some specific altcoins are going up, doesn't mean your altcoin will go up
statistically speaking, most of your (or mine, to be honest) portfolio is probably filled with future-bankrupts. I wonder why i keep HODLing it nevertheless...
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