Everything is going as predicted. I'm still 100% invested in cryptos and I can't see anything has changed fundamentally.
We're currently cruising around $500 billion, and there seems to be some technical support around 500 or 490. I don't think that matters that much. Volume doesn't seem to take off when there is price action either, so it's obviously a lot of people and probably whales (if we look at the Tether volume) that are sitting on the fence right now - expecting more regulations, but hoping for some good news.
And the good news is there I believe, if you look carefully. No countries are banning cryptos, and even banks suggest that banning it is ridicilous. South Korea is banning anonymous bank accounts from trading on centralized exchanges.
To that I say who gives a fuck. Because DEcentralized exchanges is not only in the making, but they are here. And they are many, and they make Etherdelta look like a kindergarden project.
And make no mistake, in this race - things are happening fast. Some Bitcoin nodes are all ready running LN on the Main net. And the race by decentralized exchanges is also on.
IDEX is all ready up and running it seems. I haven't tried it yet myself.
Payfair is another exchange in the making
Then there is cobinhood
And there are more. These are however the ones I think will be fully operational the soonest. Cobinhood and IDEX seems to be up and running all ready, but with some minor issues and low volume.
Now, as more people are earning money in crypto currencies - like here on Steemit, and are getting paid in cryptos for the work they're doing. We don't need FIAT deposits on decentralized ecxchanges, because who gives a fuck about Fiat at that point? Sure, we need it this year, and perhaps next year..and we can always cash out a little bit and pay our taxes. But in the long run - goodbye centralized services, and hello wages in cryptos and free exchange of goods and our choice of currency.
You better believe in that, or you might as well sell it all now - because we're in for a ruff ride, and unless you want a heart attack - I suggest you calm down and let the fundamentals work. It takes time, and don't be surprised if we see 300 or even 200$ mcap. It doesnt matter. It's doesnt even matter if we see zero. Because I rather bet on, and have my feet planted on the right side of history than to lay down my arms against the oppressors once again. Take a stand. Money and wealth is a potential bonus. I don't give a FUCK if I have to sell my Tesla. I'll walk or take the buss the rest of my life with a smile on my face, as long as I know that I didn't pussy out on this.
Fully agree, there is nothing wrong with the fundamentals, it is purely FUD and bearish technicals. Actually the fundamentals are better than ever. It would not surprise me if the big companies are waiting for a scalable way to accept cryptocurrencies and this is now around the corner with LN.
Companies like Amazon will know that they will clog whatever blockchain they pick because they will bring so many transactions that NO SINGLE BLOCKCHAIN CAN HANDLE IT AT THE MOMENT. Now LN is soon consumer ready they might announce something.
For the long term I am not worried at all, but because I am all in with investments and earnings as well im afraid to be forced to sell low for living in the short term. It looks like we will get another drop down to around 7 or 8 k.
HODL!
Yeah..the tech will live on regardless. The currency aspect could fail if this is all it takes for people to jump the ship. But again..who knows what will happen. There are so many variables, so at best we're doing qualified speculations.
I mean..theres the tech itself, then there is psychology, market psychology, the currency aspect, business perspective..it's a whole new ecosystem, and to navigate that is literally impossible. So we are betting, taking a more or less qualified guess that this will change the world. If it doesn't, well..as we were then :)
But..make no mistake..I do not fully understand the power of blockchain technology (who does), but I'm 99% sure it will be implemented in almost anything we use in the future.
So being constantly on the lookout for the next Amazon, Google or Facebook (like Steemit for example) is wise. I own 52 cryptos right now, and even though I have carefully tried to pick the ones that I think will succeed, realistically perhaps 10 will. But if "Amazon" or "alphabet" is one of them, I just need that one to succeed.
On a second note..I don't really see how the currency aspect could fail either..Sure, it could be made difficult to use cryptos practically buying goods and services..but p2p investing etc will be the new norm. Everyone will be able to buy "options" in startups etc through cryptos. That will be the new way to invest.
So the utility of cryptos is so large, that it almost certainly MUST go up. I've analyzed the tech bubble and compared to the amount of todays circulatory money, we must see cryptos valued at a total mcap of 15-20 trillion USD in order to be anywhere near the tech stocks of 2000 in actual mcap size. It was 10% of the entire stock market (world) Cryptos are 0,5%..AND they are currencies as well. It's a system AND investements AND currencies.
In that regard one could even argue that we're not in a real bubble until cryptos are more than 100% of the world stock market, which is of course 150-200x todays price..75-100 trillion USD market cap.
Take your current money in cryptos and 200X it. Now that's a lot of money :)
Doesn't Bitshares even rate a mention? Industrial quality software that has been functioning awesome for almost four years? They coined the term DEX.
Crypto is defs on the rebound, I think this will be as low as it gets for a while, maybe even ever! I chased up many friends to get in on it recently and hopefully they'll be happy too, as all 11 of my friends who just joined bought when it was below 10k!
Great post! I completely agree - the markets have slowed down a bit and are retracing etc., but there is a lot of good news coming in February/March that should rally a lot of coins.
You're right, the current news is relatively good, when compared to some points in the market histroy. I have been looking in to some of those decentralised exchanges and they are a wave ahead of Etherdelta - a great place to get coins but probably the least user friendly exchange on the planet.
I think that we are all on the right side of history for sure, we're early adopters to one of the most disruptive changes in socioeconomic interaction. Thanks for sharing!
It's May 2018. Bitcoin's price has just crashed from USD $42,000 down to $29,000.
It's September 2018. Bitcoin crashes from $87,000 to $48,000.
It's January 2019. Bitcoin crashes from $105,000 to $63,000.
You think this dip is hard?You are right Just wait and hold
Lol the funny thing is it could actually happy :D
:D
i thought tax regulation would be a good thing (NO not because I'm a fanatically law abiding citizen who intends on paying any)
but because that means the end of bull about banning (even government isnt that stupid to slay a gold egg laying goose)
and also I see it as the next step of crypto's becoming truly mainstream the more people get to try using them one way or another the more will understand their true value and the changes to the world they can bring
Yeah..well this is the catch 22 of cryptos. The crypto movement and ideal is that we bypass the current system, and make no mistake, Bitcoin's whitepaper is 100% capitalist. 100% laisezz faire anarcho capitalist. Pure free market. We want the abolishment of the oppressive and violent state power, and we want free transactions peer2peer.
Now, regulations interfere with that vision. But at the same time, no regulations means a much harder fight. It means we would actually have to get rid of governments, and that requires a hell of a lot more than just throwing around memes about hodling IMO. Sure, you can hodle and wait for regulations to appear and sure you'll get rich. But nothing has really changed.
Catch 22 for governments is that they don't want people to do peer2peer transactions. They want control over the currency. Thats the only way they can stay in power. Because once people see that freedom actually enables them and that governments is just a resting pillow that actually inhibits people, they might just don't want to go back.
And as we see more and more people being "red pilles", sure, some are wildly clueless about values and rationality, and call themselves absurd oxymorons like "I'm an anarcho communist" lol..it's like saying I'm I'm icey-warm!, but it means that people are looking for something else. They feel something is wrong. And there is a HUGE redpilling going on these days. The liberal insane left is taking it's last breath. And we might see a lot of nationalism before we see free markets.
But these things cycle too. Even governments grant people periods of freer markets to boost the economy, because they know that high taxes and a lot of welfare state means worse times, because people lose incentive to work and earn. So my guess is that we're looking at a more liberal (in a classical liberal sense) path in the coming years. Sure, cryptos will be taxed, but boy, regardless, it will be a quantum leap into the future, when we are DONE with all this bullshit, and can focus on the way forward.
You can see what the governments do..they inhibit. We could all ready see amazing projects come to live and lambos being driven to a much larger extent..but we have to wait for the thieves in power to regulate first...its ridicilous.
Great post. Yes, be on the right side of the history. Anyway crypto is here to stay. Here is the reminder why some of us are in crypto.
If people just leave the ship at this point, it's over anyway. We don't deserve freedom. But, as a 36 year old, I'm not getting any other chances like this in my lifetime. This is the only opportunity we have in our lifetime to transfer wealth BACK to the people. Not by stealing from other peoples hard work, but to say fuck you to the banks and governments, We don't even NEED your shitty money. We issue our own currency now, and those willing to bet on that will become the new elite.
You old dinosaurs are done for.
But, if this is all it takes to scare people away from cryptos. Not even the threath of jailtime or even fines..just some regulatory BS and some taxation which they cant even have control over...it's not going to happen people. We are just not worthy of freedom if this is all it takes.
I don't know jack about crypto - but the attitude is where we all need to be...
But you earn cryptos on Steemit, so you must know something?
lol - yeah - that was more by accident, than design !😂😂
When say I don't know' jack '- I mean in comparison to the things I read on here..
I'm as techy savvy as your average retarded rock - that has learning difficulties.
Haha. What do you do with the Steem you earn here? Don't you have a plan to invest some of it in something else? Or perhaps you are waiting for an opportunity to purchase things with Steem? But either way you need to be able to transfer Steem to exchanges or addresses. If you don't know how to do that yet, you should play around a little with some very small sums. Looks to me like you've got a decent amount of Steem :)
I'm living in Se asia (from UK) - I have an exchange here, so pull out a few dollars. -
I joined to make $10 dollars a day - seriously - a massive difference to quality of life here with 10 buck a day extra! lol
Apart from my small withdrawals, (and a great life with the extra $ from here!), I'm happy to 'hodl'.
No stress.
(hodl? - I'm getting with the technical terms, already!)
Haha. Awesome brother.
I'm not sure if you know the answer to this, but I'm spamming my contacts!
Cheers..
https://steemit.com/blog/@lucylin/a-techy-dunce-asks-a-question
I fuck belive in what you said, but to be honest I'll HODL till 2022 even if btc get less tham $1.00 haha
lol. You fuck-believe in what I said? How does that work? :D
Coins mentioned in post:
The fact that more and more people are able to properly earn and accept payment in crypto is making the whole thing more viable in my eyes. I'm relatively new to the space and am by no means a financial or technical expert, but if I can request and receive payment for the freelance/remote work I do for the foreseeable, then that is what I'm going to do.
I believe in the currencies, I believe in the technology and I believe in the people and communities surrounding them! They empower us to think globally, but act locally. Long live crypto, and long live blockchain!
This is a great article. I agree the fiat system is broken and it's eating itself. A decentralized blockchain system is the future. I believe we will see some major changes coming 3 - 5 years from now.
This post has received a 1.94 % upvote from @booster thanks to: @scandinavianlife.
HODL! Cryptos are here to stay 😊
good See my posts with events related to crypto @trzynasty1388
This post has received gratitude of 3.50 % from @appreciator thanks to: @scandinavianlife.
Excellent article and explanation
There are already several decentralized exchanges I think. Etherdelta is probably one of the most common and often used one, but you can just trade ETH and eth based tokens.
Another one I am used to is Waves dex, where you also can trade bitcoin, waves, eth and other stuff. I agree, the trend will go to decentralized exchanges in 2018 with several new projects coming up
Hey @scandinavianlife, great post!
It will be interesting to see how governments and central banks react to this investing climate. I think things will be smooth sailing until big time investors get burned on a project and lobby for more regulation.
Ryan
Hello Scandinavianlife , You know this market situation from last 2WEEKS has made me feel in bed , Its really hard to survive in such situation. I have lost a huge amount. I didn't HODL :( I was in a hurry. But I have learnt a very good lesson from this market crush. Will play better next time.