This crypto 'crash' has happened every year since 2015

[zionbar]

Wasn't personal. I'm just saying in general, if you think crypto is the future money, you need your head testing.

Because obviously people who think it's the future has some kind of mental block, and are blocking out the slight issue that there is no fucking way the banks and governments would allow it. Well not as it is today, it would simply be for buying and selling, and not over hyped magical money making coin. Like I said, it appears the French are onto it. Start watching others follow suit soon.

I still havent seen a valid argument to why crypto won't eventually replace fiat...?

Its just better. Its faster, has lower fees, and solves so many problems that fiat has.

Before you suggest head checks, think about the people who said "GOLD?! WTF ARE YOU TALKING ABOUT! NAHHH WE WILL KEEP TRADING SHEEP AND CATTLE TO THE END OF DAYS".

So again, me being mentally ill isnt the argument here

 

[mickyfu]

I still havent seen a valid argument to why crypto won't eventually replace fiat...?

Its just better. Its faster, has lower fees, and solves so many problems that fiat has.

Before you suggest head checks, think about the people who said "GOLD?! WTF ARE YOU TALKING ABOUT! NAHHH WE WILL KEEP TRADING SHEEP AND CATTLE TO THE END OF DAYS".

So again, me being mentally ill isnt the argument here

It's faster, has lower fees. Both these two "major" issues with money are man made "issues" man decides the fee, and man decides the time. It ain't really an issue.

I'm still fine walking out of my house and doing my shopping with cash.

I'm still fine sending money for work, that I can do instantly, no fuss, no huge cost.

People just spout "it's faster and cheaper" cause they have heard someone else say it. And that is what keeps the masses feeding the hype train. That and 100% profits in a day. But it will soon come crashing down.

All in all, crypto is about as useful as a pair of five fingered gloves in Nolfork.

 

[DeniX3]

Which Crypto would you guys buy now? BTC, ETH or XRP?

 

[KHer0]

Yeah, because January has always been a shit month in Business.

Amen to that. No matter the type of business.. january is always a shitty month

 

[mickyfu]

Amen to that. No matter the type of business.. january is always a shitty month

Not true. Selling heath related shit isn't.

 

[imoneyboy1]

The total market cap has always taken a hit in January, mainly for two reasons:

1. Lunar new year approaching.
2. Asia being a dominating player in the crypto market.

Just look at these charts.

2015:

2016:

2017:

We all know what happened after January 2017. I'm not saying the market will necessarily explode following this correction/selloff, but good chance the bubble won't burst either.

If you're gonna post "it's a bubble", save it. That's not the point of this thread. The point is, there is more probability of it being the continuation of a trend than being the end of crypto.

PS: I'm not implying you should buy or sell. It's your money. Do what you wanna do with it.

Me? I'm HODLing and accumulating what little I can during the drop.

A great post for the new traders. Now is the time to receive discounts.

 

[Deleted member 969102]

Yeah, today is pretty shitty. My portfolio is "down" medium £xxx,xxx because NEO spiked yesterday, but it's still pretty much equal to what it was a few days ago so I'm not worried.

I still havent seen a valid argument to why crypto won't eventually replace fiat...?

Supply is too low.

1BTC would need to be worth 1m just to match USD, let alone be traded daily and retain its value.

Argument over.

 

[theRevolt]

It's faster, has lower fees. Both these two "major" issues with money are man made "issues" man decides the fee, and man decides the time. It ain't really an issue.

I'm still fine walking out of my house and doing my shopping with cash.

I'm still fine sending money for work, that I can do instantly, no fuss, no huge cost.

People just spout "it's faster and cheaper" cause they have heard someone else say it. And that is what keeps the masses feeding the hype train. That and 100% profits in a day. But it will soon come crashing down.

All in all, crypto is about as useful as a pair of five fingered gloves in Nolfork.

I take this all for what it is , promising to make some quick money nothing more or less so would tend to agree. To me faster and cheaper are an illusion. Did you try sending some ETH last night and see what GAS price you need for it to actually complete in a reasonable time ? Was the same as a CC fee which is pretty instant most places (at least locking in your prices etc. while confirming if needed)...

Think about the downside to, how to you chargeback your crypto ? Sure goes 2 ways, but I'd never buy anything with crypto unless maybe Amazon... With CC I can do chargebacks on paypal and get my moeny back even if they tell me nothing they can do.

While some might have a valid concept it is far from break of dawn in terms of replacing FIAT. I can pay everything with either cash/CC, unless this is the case with crypto it ha not replaced FIAT. You have to keep in mind that change is inevitable so the huge corporations and banks who run all this shit will adapt when they feel threatened and when was the last time you listed on XYZ vs ebay to save fees?

Anyways, see it as a potentially very profitable and legal gamble to make money, and worst case well (assuming you only played with what you could afford to lose) you can at least deduct investment losses.

 

[Herion]

I take this all for what it is , promising to make some quick money nothing more or less so would tend to agree. To me faster and cheaper are an illusion. Did you try sending some ETH last night and see what GAS price you need for it to actually complete in a reasonable time ? Was the same as a CC fee which is pretty instant most places (at least locking in your prices etc. while confirming if needed)...

Think about the downside to, how to you chargeback your crypto ? Sure goes 2 ways, but I'd never buy anything with crypto unless maybe Amazon... With CC I can do chargebacks on paypal and get my moeny back even if they tell me nothing they can do.

While some might have a valid concept it is far from break of dawn in terms of replacing FIAT. I can pay everything with either cash/CC, unless this is the case with crypto it ha not replaced FIAT. You have to keep in mind that change is inevitable so the huge corporations and banks who run all this shit will adapt when they feel threatened and when was the last time you listed on XYZ vs ebay to save fees?

Anyways, see it as a potentially very profitable and legal gamble to make money, and worst case well (assuming you only played with what you could afford to lose) you can at least deduct investment losses.

Crypto likely won't replace fiat, but there are some reasonable use cases.

Consumers might love chargebacks, but merchants don't, and merchants are the ones that decide which payment methods to accept. Fee and speed issues are constantly being solved, and services like BitPay and Coinbase allow merchants to accept crypto with little to no risks. Likely won't be the dominant payment method anytime soon, however, the incentives to use it are obvious.

It also opens up the door for micropayments, which is a pretty big problem in my opinion. For example, Patreon tried, and failed to make their service more profitable by making changes to their fees. Receiving $1 1000 times is a lot more expensive than receiving $1,000 one time. So they adjusted their fees to match that and ultimately had to change it back after backlash. Crypto solves this, and allows them to avoid creating their own virtual currency, which I'm guessing they'll eventually do.

 

[zionbar]

It's faster, has lower fees. Both these two "major" issues with money are man made "issues" man decides the fee, and man decides the time. It ain't really an issue.

I'm still fine walking out of my house and doing my shopping with cash.

I'm still fine sending money for work, that I can do instantly, no fuss, no huge cost.

People just spout "it's faster and cheaper" cause they have heard someone else say it. And that is what keeps the masses feeding the hype train. That and 100% profits in a day. But it will soon come crashing down.

All in all, crypto is about as useful as a pair of five fingered gloves in Nolfork.

And im fine with buying books from the local book store. Doesnt mean the vast majority of people won't prefer amazon buddy.

 

[Bob Ross]

People are simple overreacting. people telling themself they will hold at -10% against and minus 20% they say no fucking way i will sell, then at -30 they sell. So much for the hodl you keept telling youself. Selling now will hardly make you any money!

 

[mickyfu]

And im fine with buying books from the local book store. Doesnt mean the vast majority of people won't prefer amazon buddy.

Come on, is that all you can come up with? Im sure you can do better than that if you give it a try.

People are simple overreacting. people telling themself they will hold at -10% against and minus 20% they say no fucking way i will sell, then at -30 they sell. So much for the hodl you keept telling youself. Selling now will hardly make you any money!

That really does depend if you are in the red or you are in the green.

Also whether you can afford to lose the money you gambled, or you can't.

 

[zionbar]

Come on, is that all you can come up with? Im sure you can do better than that if you give it a try.


That really does depend if you are in the red or you are in the green.

Also whether you can afford to lose the money you gambled, or you can't.

Your arguments are complete SHIT bro I dont even need to try.

Again.

Crypto is -
1. faster than fiat
2. cheaper to use than fiat
3. more secured than fiat
4. easier to use than fiat

whats your argument? that you're "fine with using money" lol.
so like I said im fine with buying crap at the local mall, yet amazon and ecom will absolutely CRASH retail in the next few years...

Give me a good argument ill actually make an effort bro

 

[vilcakurt]

Alcohol and cigarettes will be the currency of the future. Once that internet goes down, how are you going to buy something with bitcoin? Dollars are just pieces of paper and people will one day realize they have no value.

 

[virtualbyron]

Your arguments are complete SHIT bro I dont even need to try.

Again.

Crypto is -
1. faster than fiat
2. cheaper to use than fiat
3. more secured than fiat
4. easier to use than fiat

whats your argument? that you're "fine with using money" lol.

Give me a good argument ill actually make an effort bro

I gamble a little with crypto but still, I'm pretty sure it will not happen, maybe a crypto owned by the bank and totally not decentralized will replace fiat in a very long time.

Today the banking system rules the world and they will probably not give their ultimate power (print infinite money and ask government and people to pays interest on their "magical money" from nowhere) and the best part is today government need to ask money only to pay the interest, so the next year more interest so more money to print and each years they have more power.

Find someone who has a business model more black hat than that.

 

[mickyfu]

Your arguments are complete SHIT bro I dont even need to try.

Again.

Crypto is -
1. faster than fiat
2. cheaper to use than fiat
3. more secured than fiat
4. easier to use than fiat

whats your argument? that you're "fine with using money" lol.

Give me a good argument ill actually make an effort bro

Yeah your argument sort of reminds me of a thread here the other day.

Someone asked "why don't we have a blackhatworld app"

When asked why, his reason was because of the time it takes to enter the BHW url in the browser.

1st World problems are very real.

Also I'd like to add it isn't faster and it isn't cheaper.

It cost me roughly $100 to deposit $1000 into bitcoin. Cheap you say? You really mean it's cheap, or are we now going into hear say?

Let me list some issues. (Real issues)

Crypto can be used anonymously to fund terrorism, crime, drugs, people trafficking, child prostitution....... Need I go on.

It is very easy to lose your crypto for good. Don't believe me, then check out the weekly threads of "wheres me bitcoin gone".

It's also easy to lose you crypto via hardware failure, theft / hacking ect.......

All the above will come down to crypto having to be regulated and insured ..... there's where your cheaper crypto is going to start costing you.

I could go on, but there's really no point at all.

Come back when crypto is adopted by the majority and used as a currency.

 

[theRevolt]

Your arguments are complete SHIT bro I dont even need to try.

Again.

Crypto is -
1. faster than fiat
2. cheaper to use than fiat
3. more secured than fiat
4. easier to use than fiat

whats your argument? that you're "fine with using money" lol.
so like I said im fine with buying crap at the local mall, yet amazon and ecom will absolutely CRASH retail in the next few years...

Give me a good argument ill actually make an effort bro

1. Last night I tried getting some stuff using ETH, nothing fast about that it ws not even processed before the price rose (even with higher GAS price). So while in theory you might be right, it does not apply in 100% of the use cases.
2. Same example, if you need to pay higher fees to get faster transaction time then is it really cheaper?
3. From which point of view? If I buy from Vendor XYZ, they screw me, what can I do ? With CC its 2 clicks and I get my money back. Of course from a merchant POV just the opposite.
4. Maybe eventually, right now it takes me literally NO time to use my CC even if I have crypto in my wallet it still takes longer than just using my CC

Again while there may be some application for some parts of the technology I do not see this replacing FIAT in a large portion. The best use truly may be for the weed industry that have issues with finding banks (at least in the US). Market adoption will be key here. While saving fees, cutting down your target audience will hurt more than that, otherwise Ebay would long be gone, but all the fee free copycats just had not enough adoption to make it worthwhile using.

Anyways, trying to figure out which coins to buy for some good gains, whether they will be here in 1,2 X years I do not really care for. Just my 2c

 

[11Yellow11]

It's a bubble

 

[zionbar]

Yeah your argument sort of reminds me of a thread here the other day.

Someone asked "why don't we have a blackhatworld app"

When asked why, his reason was because of the time it takes to enter the BHW url in the browser.

1st World problems are very real.

Also I'd like to add it isn't faster and it isn't cheaper.

It cost me roughly $100 to deposit $1000 into bitcoin. Cheap you say? You really mean it's cheap, or are we now going into hear say?

Let me list some issues. (Real issues)

1.Crypto can be used anonymously to fund terrorism, crime, drugs, people trafficking, child prostitution....... Need I go on.

2.It is very easy to lose your crypto for good. Don't believe me, then check out the weekly threads of "wheres me bitcoin gone".

3.It's also easy to lose you crypto via hardware failure, theft / hacking ect.......

4.All the above will come down to crypto having to be regulated and insured ..... there's where your cheaper crypto is going to start costing you.

5.I could go on, but there's really no point at all.

Come back when crypto is adopted by the majority and used as a currency.

Ok awesome finally you stopped being cynical and wrote some real arguments

Added numbers so I can reply to each one of them.

1. Thats not entirely accurate, some cryptos can be tracked. Nevertheless, I failed to understand the argument here? you're saying that ppl will use crypto to do bad shit? I mean these things still happen (child trafficking and such) without crypto... not a reason to avoid new tech just because some ppl will use it for the wrong purpose.

2. NOT TRUE. its 'very easy' to lose your cash... I just lost $100 bill a few days ago and have no clue where I dropped it...? I never lost 1 crypto... just because ppl are dumb and send their crypto to the wrong wallet doesnt mean its a tech flaw? its human error.
If you sent a wire transfer to the wrong person does that mean that the wire transfer system is flawed, or that you're an idiot? (not you the person who transferred the money...)

3. I had a credit card fraud not a while ago where someone used my card in Arkansas. True story. did you ever have your credit card used by an unauthorized person? cuz im sure 90% of the ppl here have... crypto is more secured than your credit card 100%.

4.all of your arguments have to do with people and not with the technology....


Bottom line - crypto is more efficient, secured, and faster to transfer than fiat. period end of story.

 

[theRevolt]

Crypto likely won't replace fiat, but there are some reasonable use cases.

Consumers might love chargebacks, but merchants don't, and merchants are the ones that decide which payment methods to accept. Fee and speed issues are constantly being solved, and services like BitPay and Coinbase allow merchants to accept crypto with little to no risks. Likely won't be the dominant payment method anytime soon, however, the incentives to use it are obvious.

It also opens up the door for micropayments, which is a pretty big problem in my opinion. For example, Patreon tried, and failed to make their service more profitable by making changes to their fees. Receiving $1 1000 times is a lot more expensive than receiving $1,000 one time. So they adjusted their fees to match that and ultimately had to change it back after backlash. Crypto solves this, and allows them to avoid creating their own virtual currency, which I'm guessing they'll eventually do.

Theoretically a valid point, but if none of the merchants were to say offer CC, then 1 smart one would do that do steal all the other's business.

Ok awesome finally you stopped being cynical and wrote some real arguments

Added numbers so I can reply to each one of them.

1. Thats not entirely accurate, some cryptos can be tracked. Nevertheless, I failed to understand the argument here? you're saying that ppl will use crypto to do bad shit? I mean these things still happen (child trafficking and such) without crypto... not a reason to avoid new tech just because some ppl will use it for the wrong purpose.

2. NOT TRUE. its 'very easy' to lose your cash... I just lost $100 bill a few days ago and have no clue where I dropped it...? I never losed 1 crypto... just because ppl are dumb and send their crypto to the wrong wallet doesnt mean its a crypto flaw?
If you sent a wire transfer to the wrong person does that mean that the wire transfer system is flawed, or that you're an idiot? (you = the transfered the money...)

3. I had a credit card fraud not a while ago where someone used my card in Arkansas. True story. did you ever have your credit card used by an unauthorized person? cuz im sure 90% of the ppl here have... crypto is more secured than your credit card 100%.

4.all of your arguments have to do with people and not with the technology....


Bottom line - crypto is more efficient, secured, and faster to transfer than fiat. period end of story.

2. You are in the US right ? Pretty much cashless society (yes I know some places take cash only), even if so whats the chance you walk around with 1,10k etc and lose your wallet?
3. Yup had that too, so what ? Tell your bank you will get all your money back , new CC and all. Never ever use your debit card with PIN and you are golden. I don't give a shit if that happens with the CC just rinse and repeat. While you are right that CC fraud is rising (skimmers etc) usually has no impact on the user if played smart

Anyways, opposing views on all this and time will tell. In the end I doubt anybody here truly cares about this shit unless it makes them money NOW. Sure if you got tons of money laying around this is a nice long term gamble as well.