Is Crypto Dead?

  • Thread starter Thread starter Deleted member 855230
  • Start date Start date

Is Crypto Dead?

  • Yes

    Votes: 14 16.7%

  • Yup

    Votes: 3 3.6%

  • Pretty Much

    Votes: 18 21.4%

  • I'm fucking brilliant at trading crypto

    Votes: 49 58.3%
  • Total voters
    84
There's no way Bitcoin will be used as currency its to slow already nevermind any scaling or number of forks, also i think its power consumption for proof of work is flawed already

As a online holder of value then yeah can see that possibly

Will we be buying a loaf of bread with a higher cap coin like Verge? I dont think so

will ripple,POWr and some cryptos with real-world uses survive after the inevitable burst , I think so
 
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Crypto is not dead, because its not even fully born, its like half way from vagina now.. I would say its like internet in 1999-2000, people know its here, tech people are already using it in some scale, but most really only heard about it in tv. Real broad adoption is still years ahead and no one says it must be Bitcoin, I would even say there is big chance it will not be Bitcoin. Facebook was not first social medium, Google was not first search engine and Ford model T was not the first car either. Being first does not always mean you will be the winner in the end. Well, Bitcoin still has very strong team and huge community, its development is not finished, there will be Lightning Network.. so who knows, its position is still very good.
BTW did you know that bitcoin has already died 245 times? https://99bitcoins.com/bitcoinobituaries/
Yet this dead piece of nothing is right now traded $11K for 1 BTC.. not bad for dead guy.
Crypto and blockchain are here to stay, but of course there will be winners and losers and I'm pretty sure 99% of those 1500 cryptocurrencies that exists now will be forgotten and many people will lose lot of money, but good projects with real world usage will thrive.
 
Crypto reminds me of 1990s Internet. Lots of people made money. Initial offerings was hip and everyone from the postman to the Wall Street trader getting in on it. Lots of gurus.

It will definitely change the future... but for every altavista/pets.com/webvan there will be few winners like Google and amazon.
 
I did post a little bit of my opinion some time back...

https://www.blackhatworld.com/seo/omg-new-ico-coin.1001100/#post-10725143

... and all the other ICO scams and several altcoin being hacked or with its owners running away (e.g: Fantansy coin or something).

These are just hastening governments to soon regulate the crypto market. It wouldn't be the end... but like the financial markets we've only experienced crashes; and if the government does decide to intervene and regulate cryptocurrencies, we will experience a "cryptocurrency depression" rather than a crash.

In my opinion, I wouldn't say it will make the bubble pop or something. What makes cryptocurrency different from the tulip mania is, during the tulip mania you have to buy a whole bulb or tulip for tens of thousands of guilders. However, in the cryptocurrency, even $100 can still get you a bitcoin, just that it would be like 0.007390 of a bitcoin. And with that you can trade for altcoins. But you can't do that with tulips or the bulbs as you can't buy half a bulb, you need to buy the whole at staggering prices. And the tulip mania bubble popped because traders or buyers decided not to pay; thus causing a dip in price, then a panic selling, .etc. It is hard to happen to cryptocurrency market, especially with the "HODL" mentality. I say the possible outcome that will happen is only like the dot-com bubble - prices will be worst off, but it wouldn't be the end of cryptos; and only a few will emerge like Amazon, Google, or Microsoft. Joke or meme coins will most probably end up like Pets.com.. And perhaps, just perhaps, cryptocurrency will just be another financial market for traders - just like how we have the bond market, stock market, derivatives and futures market, there will soon be a cryptocurrency market (I mean, it is already called cryptocurrency market as of now, but financial institutions still refuse to accept it and isn't regulated yet.). If that happens, I believe 'anonymity' coins would also be banned then as a centralised crypto market wouldn't accept such. ICOs will just be like IPOs but with stringent regulations and background review.

But one thing's for certain. This whole cryptomarket has sparked many innovative technological ideas. Think of SIAcoins, POET, IOTA, GOLEM, Ripple, and many more. Cardano, NEM, NEO, Ethereum are all innovative coins that came out from the roots of Bitcoin to solve its issues (security, .etc). So whether people call this whole crypto a bubble or not, one must remember how much innovation it has brought to us. Even Bitcoin's blockchain technology has been accepted in bank industries. I've read that Asian banks are taking advantage of blockchain technology for data security.

Just my opinion though...
Click to expand...
To add on... if you want to see how strong the "HODL" mentality is just look at the recent crashes. Despite all the mass selling and BTC's price breaking through the 10K support line, it still manage to stabilise and recover later. The HODL mentality lessen the panic selling effect. And mind you this is an unregulated market, yet it survived. My banker friends told me when such occurrence happens in the futures market trading will be halted or suspended for the day or indefinitely; and for the stock market, the company of the affected stock can call the exchange to execute a 'trading halt' (or the SEC can call for a trading suspension) for the day or till an indefinite time. I say the cryptocurrency market may collapse if those huge (and I reall mean HUGE) whales or people who owns a huge percentage of BTCs or altcoins mass sells them all at once (not just one whale or dominant player, it needs to be multiple or more) only then will the cryptomarket collapse.

And yes, just my opinion. Don't take my word for it as I'm still learning. And I apologise if it offends anyone. Maybe I'll ask my haunted doll for some revelation. Nah just kidding... this is me sleepy. Gotta go have my nap now.
 
Last edited by a moderator:
Sophie said:
I did post a little bit of my opinion some time back...

https://www.blackhatworld.com/seo/omg-new-ico-coin.1001100/#post-10725143


To add on... if you want to see how strong the "HODL" mentality is just look at the recent crashes. Despite all the mass selling and BTC's price breaking through the 10K support line, it still manage to stabilise and recover later. The HODL mentality lessen the panic selling effect. And mind you this is an unregulated market, yet it survived. My banker friends told me when such occurrence happens in the futures market trading will be halted or suspended for the day or indefinitely; and for the stock market, the company of the affected stock can call the exchange to execute a 'trading halt' (or the SEC can call for a trading suspension) for the day or till an indefinite time. I say the cryptocurrency market may collapse if those huge (and I reall mean HUGE) whales or people who owns a huge percentage of BTCs or altcoins mass sells them all at once (not just one whale or dominant player, it needs to be multiple or more) only then will the cryptomarket collapse.

And yes, just my opinion. Don't take my word for it as I'm still learning. And I apologise if it offends anyone. Maybe I'll ask my haunted doll for some revelation. Nah just kidding... this is me sleepy. Gotta go have my nap now.
Click to expand...
Hello @Sophie I'm going to take the chance to derail my own thread. I was wondering how the haunted doll acquisition has fared for you. Still alive, unless it's the doll typing? Any strange occurrences?
 
queenjude said:
for every altavista/pets.com/webvan there will be few winners like Google and amazon.
Click to expand...

I think it will be kinda the other way around actually, for every EVENTUAL Google or Amazon that springs from the crypto pool (or rather the crypto mess that is now) there will be thousands of altavista/pets.com/webvan, costing "investors' " bankrolls in the process.
And this is supposed to be "an opportunity for the poor, ordinary people to gain wealth and independence from the greedy banks" somehow...
 
WebMinati said:
still people are making millions out of it :O
Click to expand...

Where are those millions coming from though?
And how many are those people making it? If everyone does what they do, will ALL the people suddenly make millions?
 
The problem with asking in places like this is everyone that's invested is going to say its the future and everyone who hasn't is going to say its a bubble, hard to get an unbiased opinion.
 
jamie3000 said:
The problem with asking in places like this is everyone that's invested is going to say its the future and everyone who hasn't is going to say its a bubble, hard to get an unbiased opinion.
Click to expand...
So by this logic, only people that post in crypto subthread are people who are wholly supportive of it? I find that preposterous!
 
jamie3000 said:
The problem with asking in places like this is everyone that's invested is going to say its the future and everyone who hasn't is going to say its a bubble, hard to get an unbiased opinion.
Click to expand...

I have a fair bit "invested" (it's on red really) and let me tell you it is a bubble and gambling.

Where have all the '$40k by January' crypto kiddies gone? Acting all Wall Street giving out their financial advice, safely from their bedrooms in mummy and daddies where they pay no bills and don't even know how to use a toaster.
 
WHERE are you from guys ? India ? Pakistan ? Crypto Never died :)) lol too many country accept crypto as payment , in my country i can pay my Bills ( all my Bills ) fly ticket i can buy many daily stuff with crypto ...
 
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