Monitoring the Crypto Bubble

Discussion in 'Digital Currencies' started by Bullion Baron, Dec 12, 2017.

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Where do you think we are in the crypto bubble?

  1. Very early (years left to run)

    19.8%
  2. Around the middle (could still run for months or a year)

    45.3%
  3. Very late (could end within days/weeks)

    22.1%
  4. It's not a bubble

    12.8%
  1. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    If you are talking an investment value yes, no issue. There are thousands of different stocks, ETF and 190 fiat currencies, so there is nothing stopping creation of 1000s of crypto

    But if you are talking everyday money. What you wrote is absolutely not workable.

    Say one went to Coles for weekly shopping.

    Do you expect each price label to have thousands different value in each cryto? ie every single product will have 1000 different prices.

    So in an aisle of 1000 different products at a supermarket, that each item will have prices in 1000 different cryto

    Do you expect that people will be ok that a price one sees on the price booklet says 1.5 x coin/token, but since the person doesn't have that coin/token, when at the cashier ten minutes later the person have to convert the crypto iat an exchange, which mean until one buy and pays, one doesnt know how much one is actually paying?
     
    Last edited: Aug 22, 2018
  2. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I wasn’t talking crypto as a replacement for money
     
  3. inmizu

    inmizu Member

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    'Do you expect each price label to have thousands different value in each cryto? ie every single product will have 1000 different prices.'

    [EDIT: 'all shops will gravitate to one crypto and have the price of coffee, fuel, steak listed in one mainstream crypto']

    I hope this is not getting acrimonius. I am trying to help, not argue. I sure do take your point. By the same token, we have, apart from the national fiat in each case, things like fly-buys and In-Store Credits. These are effectively other 'currencies.'

    But a prototypical solution to the problem is already in use: you have a debit card. 'Behind' the debit card is a real-time cryptos-to-fiat exchange algorithm. You swipe you card. The cost comes out in fiat. But it came from cryptos.

    Perhaps what I'm most focussed on, though, is my conviction -- held by plenty of bullion bugs -- that national fiats face an extremely uncertain future. When I was a kid, there were three brands of toothpaste. Now there are three hundred. Who knows what lies ahead!
     
    Last edited: Aug 22, 2018
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  4. sodl

    sodl Active Member

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    There are some cryptos out there that have the problem solved that you are talking about.
    So you have one cryptos and buy their coin/token and load up your wallet. Then you can buy something online or in a physical shop or withdraw cash from an automatic teller machine (atm) or pay someone in any fiat currency anywhere in the world to their bank account all from your one wallet which simply converts from your coin/token, for a small fee, to whatever crypto or any countries fiat currency. I think also your coin/token may be even able to convert to pay a person in commodities tokens/coins also , gold,silver,oil etc. I do not think they will cover all cryptos but certainly many of the main cryptos. Maybe in time they could convert to most cryptos , including cryptos that buy/sell shares in the skock market.

    The person you are buying from or sending crypto or fiat has no clue what crypto or fiat currency you hold.

    I will look up names of some of these cryptos I am talking about and post them at a later time.

    Also with new technology pretty soon you will be able to make direct payments across different blockchains. eg from BTC > ETH , BTC > LTC . At the moment you need to exchange one coin/token for the other. In time this will make many crypto exchanges extinct. The space is constantly evolving.
     
    Last edited: Aug 22, 2018
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  5. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    MCO is an example of a multi-crypto Visa card and wallet, it allows you to transfer, store, sell, buy and convert crypto, it will also allow purchases like a regular Visa card, there are loyalty and user incentives like other cards.

    Currently there are 5 supported crypto and their own stable coin USDM.

    EBB7049C-8046-4DA5-9A40-5411720AB7F1.png

    The vast majority of crypto are not designed to replace fiat currency but are tokens exchanged to enable access to the protocol.
     
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  6. inmizu

    inmizu Member

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    'Also with new technology pretty soon you will be able to make direct payments across different blockchains. eg from BTC > ETH'

    Hey, sodl!. My eyes have become a real problem, and I recently had to bail on a big project (undertaken for the GRS guys), which involved 'DEXes.' And on some of these DEXes, they are trialling atomic swaps -- which is what you're talking about. And I did in fact blunder through a couple of atomic swaps on BarterDEX.

    'In time this will make many crypto exchanges extinct.' We use the terms 'CEXes' and 'DEXes' -- centralised and decentralised exchanges. It will make CEXes extinct. DEXes are the future (though slower coming than I thought . . . ).

    http://www.marketoracle.co.uk/Article62196.html
     
    Last edited: Aug 22, 2018
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  7. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    I was replying to general view, not something specific from anyone.
     
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  8. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    The general view is mistaken.
     
  9. Lunardragon

    Lunardragon Well-Known Member Silver Stacker

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    Nano XRB has wow...
     
  10. dozerz

    dozerz Well-Known Member Silver Stacker

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    wan is also up 40% from the low last week, are some alts on the recovery?
     
  11. Soprano16

    Soprano16 Well-Known Member Silver Stacker

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    As someone who owns some of these coins that are enjoying a nice little pump, I have no real faith in it continuing because the overall marketcap hasn't changed at all

    Until new money comes in, this is all just smoke and mirrors
     
  12. dozerz

    dozerz Well-Known Member Silver Stacker

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    youre thinking too logical, price doesnt follow logic in crypto markets. most "experts" are saying the ether recovery will signal the start of alt season and it hasnt moved.
     
  13. Soprano16

    Soprano16 Well-Known Member Silver Stacker

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    There's certainly several coins that I would consider to be well over sold (Nano, WAN, ICX etc) so I think people are realising that and starting to accumulate, but I don't think it's going to turn into a massive boom

    Would love to be proven wrong, and I plan on buying more very soon myself, but until the overall MC starts to actually move I don't see it happening
     
  14. inmizu

    inmizu Member

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    +1
     
  15. inmizu

    inmizu Member

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    'But now a global crackdown has begun, and it could ultimately mean the death of the entire sector.'

    http://theeconomiccollapseblog.com/...n-unprecedented-crackdown-on-cryptocurrencies

    I imagine that this guy has a little backpack of anti-depression meds that get piped directly into his veins. Every day, year in year out, his world is collapsing blowing up breaking down decaying rotting spinning out of control. If he say cryptos are doomed, we're likely over the worst.
     
  16. inmizu

    inmizu Member

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  17. leo25

    leo25 Well-Known Member Silver Stacker

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    Looks like the final leg down is starting. This could get nasty. I'm hoping the market cap won't go lower then 110 billion, but the market is still VERY over heated so who knows where the true value is.
     
  18. dozerz

    dozerz Well-Known Member Silver Stacker

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    will this get deleted?

    seems to be following some ta pretty closely, target of support is 5900. maybe some expert can tell us what type of pennant this is?

    [​IMG]
     
  19. Peter

    Peter Well-Known Member

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    Bitcoin investors are getting their digital butts kicked lately. Hard. Bitcoin prices have plunged more than 20% in the past two days.

    Ethereum, Litecoin, Ripple and other cryptocurrencies have suffered similarly large drops. The reason for the latest pullback? A Business Insider report that investment banking giant Goldman Sachs (GS)may be dropping plans to launch a crypto trading desk.
     
  20. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Not all investors. I consider myself an investor but I dont have a single coin of anything since November 2017

    Way too expensive at the moment and way too many dreams of next moonshot.

    The next boom wont occur, until all the holders have given up and the coin drops to less than a thousand.
    At the stage the pumpers needs to come back and drive the masses to nirvana, so the investors can buy in on the moonshot to get off before crashing again leaving the masses holding the hot potato.

    Just like PM without frenzy of masses and pumpers, there is no point investing in PM or Crypto
     

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