Monitoring the Crypto Bubble

Where do you think we are in the crypto bubble?

  • Total voters
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One of the complaints early this year against bitcoin is that bitcoin design is not good enough, transactions are not quick enough as compared to better designed cryptos likes of litecoin, ripple and ethereum. Yet the price of bitcoin has held up better than altcoins.

Does this argument still stand or has bitcoin somehow evolved to overcome these deficiencies? To survive the hype, bitcoin needs to be functional.
 
sgbuyer said:
One of the complaints early this year against bitcoin is that bitcoin design is not good enough, transactions are not quick enough as compared to better designed cryptos likes of litecoin, ripple and ethereum. Yet the price of bitcoin has held up better than altcoins.

Does this argument still stand or has bitcoin somehow evolved to overcome these deficiencies? To survive the hype, bitcoin needs to be functional.
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Btc 4.4 to 7 transactions per second (actual unknown as never reached 7)
Visa 24,000 transactions per second (next upgrade is 59,000 per second early 2019 as 24,000 was breached multiple times)

Though bitcoin doesn’t need to transact any faster as it’s not a currency. The action is for BTC are in OTC where the whales and institutions trade, the exchanges are for retail users only.
 
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Silicon Valley is selling crypto like it’s on fire sale.

I don’t mean the crypto companies, I mean retail investors. Ie tech workers from Facebook, Amazon, Apple, Netflix and Google.

Many invested a portion of their wealth in Crypto as an alternate semi hedge against shares, as a store of value and because it is cool.

But as Facebook, Apple, Amazon, Netflix and google shares tank 20% to 40% plus many of these people have seen massive drops in their personal wealth, and what they thought was a store of value in digital “gold” has proven wrong. AND they are selling at any price.

Even if you are a true believer, SELL and you can always buy back later.

True believer doesn’t mean you have to be a Martyr
 
'One of the complaints early this year against bitcoin is that bitcoin design is not good enough, transactions are not quick enough as compared to better designed cryptos likes of litecoin, ripple and ethereum. Yet the price of bitcoin has held up better than altcoins.

Does this argument still stand or has bitcoin somehow evolved to overcome these deficiencies? To survive the hype, bitcoin needs to be functional.'

Morning, sg.

One: Bitcoin is a model-T Ford -- but it would be most ungracious of us to beat Satoshi on the back of the legs with a wire coat hanger because his prototype was enormously successful! Bitcoin is slow. But it is 'first-to-market' -- bear in mind how slowly at first any understanding of cryptos was to 'seep through' to the public. So, still, for many folks, 'cryptos = Bitcoin.'

Two: Bitcoin's price holds up in part because it remains significantly the 'gateway': you buy Btc with $$, then trade 'crypto-crypto' on exchanges. It's wonderfully complex, and profitable if you understand the dynamics.

Three: Bitcoin 'functional' Well, Bitcoin has shifted from being seen as a vehicle for micro-payments to being seen as an investment because Governments can't inflate it.

Note: Ripple is not recognised as a 'real' crypto by many many geeks because it is centralised.

Note: Ethereum is much faster, but it is worth noting that it is a very very different thing to Btc
 
'To survive the hype, bitcoin needs to be functional.
At the moment the market has voted that bitcoin is the most functional crypto.'

Good morning, leo.

We have a little bot that tells us Btc dominance. (Its name is 'Unobot') Let me check: 53%

It's the 'Gateway Thang': so many cryptos are largely traded against Btc, so if you wanna get out of many cryptos, you gotta sell them for Bitcoin, and then rush your Bitcoin barrow over to the $$ exit.

[Feel free to ask: if you trade 'contrarian' -- buy those 'altcoins' when the price drops because everyone is freakin' out to get to Bitcoin to get to $$ -- you will make a wallop of profit. Indeed, if you are confident in the altcoin in question, it's a no-brainer.]
 
Note: and because many alts have 'shallow' markets, once selling on 'the low side' is underway, the speed at which those alts drop in price just fires up the craziness. The long timers -- often the devs and original miners of these cryptos, from back in 2013 and 2014 -- just put big bids in real low; pick up big chunks at bargain-basement prices, and they been doin' it for years -- confidence in the long-term of the instruments!!
 
This sounds right, using funny money made from selling Amazon stock to buying cryptos. Since Amazon stock has a lot more to fall, we can expect more selling of cryptos. Losses in crypto will mean even more selling of Amazon stocks. This is going to be a vicious cycle. I guess the silicon valley house will also be on fire sale soon?


Ipv6Ready said:
Silicon Valley is selling crypto like it’s on fire sale.

I don’t mean the crypto companies, I mean retail investors. Ie tech workers from Facebook, Amazon, Apple, Netflix and Google.

Many invested a portion of their wealth in Crypto as an alternate semi hedge against shares, as a store of value and because it is cool.

But as Facebook, Apple, Amazon, Netflix and google shares tank 20% to 40% plus many of these people have seen massive drops in their personal wealth, and what they thought was a store of value in digital “gold” has proven wrong. AND they are selling at any price.

Even if you are a true believer, SELL and you can always buy back later.

True believer doesn’t mean you have to be a Martyr
Click to expand...
 
inmizu said:
One: Bitcoin is a model-T Ford -- but it would be most ungracious of us to beat Satoshi on the back of the legs with a wire coat hanger because his prototype was enormously successful! Bitcoin is slow. But it is 'first-to-market' -- bear in mind how slowly at first any understanding of cryptos was to 'seep through' to the public. So, still, for many folks, 'cryptos = Bitcoin.'

Two: Bitcoin's price holds up in part because it remains significantly the 'gateway': you buy Btc with $$, then trade 'crypto-crypto' on exchanges. It's wonderfully complex, and profitable if you understand the dynamics.

Three: Bitcoin 'functional' Well, Bitcoin has shifted from being seen as a vehicle for micro-payments to being seen as an investment because Governments can't inflate it.

Note: Ripple is not recognised as a 'real' crypto by many many geeks because it is centralised.

Note: Ethereum is much faster, but it is worth noting that it is a very very different thing to Btc
Click to expand...


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Ipv6Ready said:
Even if you are a true believer, SELL and you can always buy back later.

True believer doesn’t mean you have to be a Martyr
Click to expand...

Poor advice IMO. For the reasons that have been discussed countless times before.

I’m buying and dollar cost averaging.

@sgbuyer , I didn’t think your comments could get any more retarded but I guess you’ve proven me wrong. You’re a fkn numbnut mate.
 
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mmm....shiney! said:
Poor advice IMO. For the reasons that have been discussed countless times before.

I’m buying and dollar cost averaging.

@sgbuyer , I didn’t think your comments could get any more retarded but I guess you’ve proven me wrong. You’re a fkn numbnut mate.
Click to expand...

I've removed my comment. I see no point wasting more time on this.
 
with 94/100 top https://coinmarketcap.com/
moving down, must be very sick like butterfly in stomach
to be watching California burning, like a reset in the lenders in housing
while the people there lost everything
 
'with 94/100 top https://coinmarketcap.com/
moving down, must be very sick like butterfly in stomach
to be watching California burning, like a reset in the lenders in housing
while the people there lost everything'

Good morning, alor.

I may speak only for myself: nope. Absolutely not.

And I can tell that the guys in my alliance are also perfectly calm.

Why? A number of reasons. One is we've typed our fingers to the bone explaining "Don't invest more than you can afford to lose"

And: check my posts above: if if if you are a long-timer, then you understand that 2018 is both the cooling from the 2017 spike, and the Year of The Big Guv Push-Back (and that thing about Silicon Valley guys bailing -- that's new, related to the GFC). There is nothing unexpected happening at present.

But here's the biggie: what astounds us, alor, is the backwards-thinkingness of . . . almost everyone! It's like watching baby bunnies charging a buzzsaw: price goes up and up, and these folks just keep on piling in.

What we do is: stand waaaaaaaaaaaay back, Sell on the spike. A bit. Then some more. And as much as you're gonna sell well before the top. Then we wait. For months and months and months and months -- for over a year and a half after the 2013 spike.

Then you toddle down to the Bitcoin shop, and start buying back in.

And I bet that that is what the experienced bullion traders here also do!!
 
inmizu said:
'It’s easy to confuse the notion of intrinsic quality with intrinsic value.'

Morning, shiney. I accept this distinction in a philosophical sense. But surely if 'we value objects because of their intrinsic qualities,' then 'value = quality.'

And for the purposes of our discourse here: if cryptos have the utility of (among others) seamless international transfers, then may we work on the basis that this intrinsic quality = an intrinsic value?
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No. Because value is entirely subjective it is assigned by the individual.

It’s important to establish that difference because if we assume anything has innate value then we run the risk that groups of individuals in society with shared values can use the power of the State to impose their values onto others.

That doesn't mean that shared values don't exist, it simply means that when groups of individuals share a value, such as a love of fine art, it is immoral to force others into complying with those values.
 
inmizu said:
A: cryptos perform a particular function particularly well.

B: cryptos have endured as an instrument of political expression.

A plus B = $$
Click to expand...

Because cryptos possess certain qualities that are inherent ie purposely designed into them which are set up to achieve a purpose, some individuals assign value to them and are willing to buy them as they value the $$ they hold less than the crypto they don't own.
 
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