discuss The crypto market is going crazy!

BaileyUK said:

and your balance is ZERO

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I believe in $ZER

MarketingStrategies.com said:

I believe in $ZER

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You're about the only person that does by the looks of things:
https://coinmarketcap.com/currencies/zero/

The day you get to put the World to rights on a social/economic scale is the same day of Global currencies, Don't try to pretend it's a cart-before-the-horse social/investment . Bullshit,

MadAboutDomains said:

You're about the only person that does by the looks of things:
https://coinmarketcap.com/currencies/zero/

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Small crypto this one, lots of potential.

it's all good chat - there is a thread on here where somebody put his life and soul on bitcoin reaching a $100,000 before this up and coming new year (it was rising to its peak) The thread went on forever, with hyperbole, bit like all the crypto-currency bullshit before and ever since

Any chance whatever run up may (or may not) be occurring is a result of the cryptocurrency conference that took place in Singapore this past Wednesday and Thursday?

Maybe a little "afterglow" from the true believers buying in even more???

Cryptocurrency has created a big buzzword in the recent past. Some call it a bubble which will burst while some are betting big on it while the remaining people like me sit and watch the show!

sbweb said:

What is driving the prices up?

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Artificial pump

Check out how gold kept rising after the 2008 crisis.
https://goldprice.org/gold-price-history.html

Windoms said:

Check out how gold kept rising after the 2008 crisis.
https://goldprice.org/gold-price-history.html

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Indeed. Gold is a solid investment vehicle, crypto is not.

MarketingStrategies.com said:

it's more accurate to consider your money in the bank a pyramid scheme when the bank only has 10-30% of all deposits available for withdrawal at any given time.

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No such problems with cryptocurrencies

Kate said:

No such problems with cryptocurrencies

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Not really.

New monetary and technological platforms are being built as we speak. The companies in the space are choosing to raise funds via coin offerings, basically creating a new stock market. One can argue that there are scams in the crypto market, and that’s true. The stock exchange is full of companies running scams so let’s not pretend we have to shun crypto because it’s the big bad wolf. Do your homework before making investments in anything and you’ll be fine.

Now, to those ignoring what’s happening with crypto...I’m sorry, you’re going to miss the biggest opportunity of your life!

I'm confused. All signs I look for show that crypto is going down the toilet. All the graphs are steadily declining.

Google trends shows that the big hype is all but gone:
https://trends.google.com/trends/explore?date=2017-01-01 2018-09-22&q=Cryptocurrency

@Keith please can you show us some positive signs? I remember watching loads of videos to do with Crypto and the blockchain 2 years ago, they were talking about these new monetary platforms centred around the blockchain... where are they and what is the big impact that they've been having?

Sedo just finished up their crypto domains auction and it was a damp squib.

more people have lost money... gone broke...bankrupt...or even jumped off bridges... than those who made money in cryptos...

keep that in mind folks

MadAboutDomains said:

I'm confused. All signs I look for show that crypto is going down the toilet. All the graphs are steadily declining.

Google trends shows that the big hype is all but gone:
https://trends.google.com/trends/explore?date=2017-01-01 2018-09-22&q=Cryptocurrency

@Keith please can you show us some positive signs? I remember watching loads of videos to do with Crypto and the blockchain 2 years ago, they were talking about these new monetary platforms centred around the blockchain... where are they and what is the big impact that they've been having?

Sedo just finished up their crypto domains auction and it was a damp squib.

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You’re looking at the market highs and assuming it should keep rocketing up. Look back a few years ago when btc was under $2k. If you invested then you’ve still tripled your money. It’s not going to sit at this level much longer.

The main issue for the idol market has been regulation. It’s being resolved as we speak and once it’s ironed out, it’s over. You’ll see hundreds of billions of dollars pumped into the market. Many people will be kicking themselves...

alcy said:

more people have lost money... gone broke...bankrupt...or even jumped off bridges... than those who made money in cryptos...

keep that in mind folks

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Is that a fact? I’d say the people that believed/believe in crypto have made more money than they could’ve ever imagined. I know I have and know others alike.

Now is the time to load up before the market checks out.

Keith said:

Now, to those ignoring what’s happening with crypto...I’m sorry, you’re going to miss the biggest opportunity of your life!

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And biggest tulipmania too
Crypto is an even better way than domaining to lose money. Yet domain names are more tangible than cryptocurrencies: they can be used for something (make money).

Unfortunately I see lots of speculation and not enough value. And a huge waste of electricity.
In Iceland mining will soon consume more electricity than all households in the nation. That is insane.

Any gold mine will eventually run dry.

Kate said:

And biggest tulipmania too
Crypto is an even better way than domaining to lose money. Yet domain names are more tangible than cryptocurrencies: they can be used for something (make money).

Unfortunately I see lots of speculation and not enough value. And a huge waste of electricity.
In Iceland mining will soon consume more electricity than all households in the nation. That is insane.

Any gold mine will eventually run dry.

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If you follow what’s happening as crypto evolves, mining is becoming a thing of the past. And as with domains, crypto, or whatever - don’t invest if you don’t know what you’re doing.

MadAboutDomains said:

Indeed. Gold is a solid investment vehicle, crypto is not.

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Gold is not an investment, it's Security & the most reliable form of monetary liquidity.

The point of gold is making money is one thing. Keeping what you have is another (SECURITY) preservation of wealth. Securities cannot be manufactured out of thin air, End of story there is no debate on that.

The technology behind Blockchain works 110% - if CryptoCurrencies worked as security or money Blackrock would have them, they control 30-35% of the Worlds assets - They dont. Not to mention 100s of thousands of family offices that hold the rest of the worlds wealth, Do they contain "crypto" or any source code that is "going to the moon" > Point blank NO.

Tokenization of assets works (security tokens) can work, Will work. This fake "market-cap" ICO thing is a total embarrassment how anybody actually gets the words out their mouth is extremely absurd/laughable.

I said this in December when prices we're at it's All time high, nobody listened everybody got burned. Good luck to those who are chasing "fresh money" in to get their money out. You'll need more than god on your side

Keith said:

Is that a fact? I’d say the people that believed/believe in crypto have made more money than they could’ve ever imagined. I know I have and know others alike.

Now is the time to load up before the market checks out.

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like i said...most people...

there was also those who made money as u say...

imo those who lost number more than those who won .. but thats a stat neither of us may ever be able to prove...it no one in the world for that matter

MadAboutDomains said:

Indeed. Gold is a solid investment vehicle, crypto is not.

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The future is gold on blockchain. Gold is money, even in the USA, gold/silver are the only legal tender, per the constitution. The money we use is technically illegal. China, Russia, Middle east and others are preparing it. Blockchain can transfer ownership of the gold money, but only in theory. They wont let anyone 'redeem', instead it would just be a representation of their provable physical supply.

Blockchain makes for a unit of accounting with immutability, transparency, speed and safety. Never before has anything existed to account for gold transaction in such manner with the transparency that blockchain does. No country can attack the value of their money, as people do today, because it will truly be backed by something, something widespread and distributed over 5000+ years, something that EVERYONE is forced into using. Forced is a strong word, for something that is going to be GREAT, but many powers that be would not like this to happen, though it will, and they are preparing themselves for it too.

Any other blockchain crypto won't work, backed by nothing. Because the value isn't stable, it's more perceived. I understand gold value is perceived too, but since it's so distributed, it cannot be manipulated or attacked so easy, especially while the whole world is in agreement while using it. With gold, you can't merely abandon your failures, because while everyone else is using it, they won't accept any crypto that has no backing.

Tax directly on transaction, small amount paid to miners. They can set their chains up anyway they want. It would be in their best interest not to mess around, because everyone can see what's going on. If they fiddle with their core, their currency value would go down respectfully in an instant.




$214,000,000,000 Aug 2018 US budget deficit.
228,550 gold eagles sold in all of 2017.
Today's gold price ~$1200.
Today's value of ALL 1 oz gold eagles sold during 2017 = $274,200,000
= 780 years worth of 1oz gold eagle sales to equal Aug 2018 budget deficit!

Things are out of whack...look at the smart money.

Keith said:

You’re looking at the market highs and assuming it should keep rocketing up. Look back a few years ago when btc was under $2k. If you invested then you’ve still tripled your money. It’s not going to sit at this level much longer.

The main issue for the idol market has been regulation. It’s being resolved as we speak and once it’s ironed out, it’s over. You’ll see hundreds of billions of dollars pumped into the market. Many people will be kicking themselves...

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Interesting take on it. You mention about me looking at it expecting the price to be rocketing up and then you said that I shouldn't expect it to stay at this level for much longer... but then you said that it's not going to stay at the current price, so even you're expecting it to rocket up and become exciting again.

I'm not sure that regulation of crypto is going to make it popular again. The regulation needs to be there, certainly, because from the articles I've been reading, the price was artificially inflated during the hype last year https://www.nytimes.com/2018/06/13/technology/bitcoin-price-manipulation.html. It wasn't necessarily because of demand for the currency, but artificial manipulation within the markets from the marketplaces that had the means to do it and stood to make money from it. It was a free for all, which might go somewhere to explaining why the price rose so high.

The initial surge in December 2014, when bitcoin first came out of the woodwork it was with tepid media coverage, it was still largely a dark art and the price wasn't high enough to impress people. Then in 2017 it really went mainstream in the media, thousands and thousands of articles every day fuelling the hype because of the rocketing price, there wasn't a single news outlet that didn't cover the price of bitcoin. However, I can't see there being the same degree of media attention for crypto again in the same way, it's no longer new or exciting.

If there is a next time that the mainstream hype machine revs up regarding crypto again, lots of people have already dabbled in it and lost money or didn't get out quickly enough. In the mean time there are plenty of people sat with their hard disk filled up with the entire block chain of their chosen almost worthless and useless alt coin, staring at a number in their wallet that's connected to a decentralised network that charges unpalatable transaction fees that take a long time to clear. I just hope that for their sake that if the markets do pick up again that they're able to remember where they stored their access keys.

You could conclude that it was only popular because of the price and the media hype surrounding said price. It appears to me that the masses piled their money into bitcoin and other alt coins in 2017 thinking that they could make a quick buck, but most didn't... they did only if they were already in the market and sold before the hype faded away. If you were already in the market then you did well, and the media were all too happy to tell everyone about it and show us the "bitcoin millionaires" - but so what, that's no good to the average person now, we've seen it before and the plunge from the highs of December 2017 isn't an enticing factor either.

I personally think that it's had it's time, for the masses anyway imho

JayT said:

The future is gold on blockchain. Gold is money, even in the USA, gold/silver are the only legal tender, per the constitution. The money we use is technically illegal. China, Russia, Middle east and others are preparing it.

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On this point, people have been saying this over and over for years and years. If you look into who's saying it, they normally that have an interest in metal exchanges, or another type of exchange (crypto), or an idea for some startup up to "solve" the problem or a deal on in some interest of theirs. They have been saying this for YEARS and YEARS. They bang on and on and on about how fiat currencies aren't backed by gold and that they're not real like gold and that other countries are planning to bring back gold backed currencies and that the US dollar will be worth diddly squat, that gadaffi was killed because he wanted to create a gold backed currency, Russia is buying up all of the gold in taking from the federal reserve or some other bs. So what, we're all going to convert all of our money into gold or crypto gold? That's a better bet than just living your life in fiat money?

MadAboutDomains said:

Interesting take on it. You mention about me looking at it expecting the price to be rocketing up and then you said that I shouldn't expect it to stay at this level for much longer... but then you said that it's not going to stay at the current price, so even you're expecting it to rocket up and become exciting again.

I'm not sure that regulation of crypto is going to make it popular again. The regulation needs to be there, certainly, because from the articles I've been reading, the price was artificially inflated during the hype last year https://www.nytimes.com/2018/06/13/technology/bitcoin-price-manipulation.html. It wasn't necessarily because of demand for the currency, but artificial manipulation within the markets from the marketplaces that had the means to do it and stood to make money from it. It was a free for all, which might go somewhere to explaining why the price rose so high.

The initial surge in December 2014, when bitcoin first came out of the woodwork it was with tepid media coverage, it was still largely a dark art and the price wasn't high enough to impress people. Then in 2017 it really went mainstream in the media, thousands and thousands of articles every day fuelling the hype because of the rocketing price, there wasn't a single news outlet that didn't cover the price of bitcoin. However, I can't see there being the same degree of media attention for crypto again in the same way, it's no longer new or exciting.

If there is a next time that the mainstream hype machine revs up regarding crypto again, lots of people have already dabbled in it and lost money or didn't get out quickly enough. In the mean time there are plenty of people sat with their hard disk filled up with the entire block chain of their chosen almost worthless and useless alt coin, staring at a number in their wallet that's connected to a decentralised network that charges unpalatable transaction fees that take a long time to clear. I just hope that for their sake that if the markets do pick up again that they're able to remember where they stored their access keys.

You could conclude that it was only popular because of the price and the media hype surrounding said price. It appears to me that the masses piled their money into bitcoin and other alt coins in 2017 thinking that they could make a quick buck, but most didn't... they did only if they were already in the market and sold before the hype faded away. If you were already in the market then you did well, and the media were all too happy to tell everyone about it and show us the "bitcoin millionaires" - but so what, that's no good to the average person now, we've seen it before and the plunge from the highs of December 2017 isn't an enticing factor either.

I personally think that it's had it's time, for the masses anyway imho


On this point, people have been saying this over and over for years and years. If you look into who's saying it, they normally that have an interest in metal exchanges, or another type of exchange (crypto), or an idea for some startup up to "solve" the problem or a deal on in some interest of theirs. They have been saying this for YEARS and YEARS. They bang on and on and on about how fiat currencies aren't backed by gold and that they're not real like gold and that other countries are planning to bring back gold backed currencies and that the US dollar will be worth diddly squat, that gadaffi was killed because he wanted to create a gold backed currency or some bs. So what, we're all going to convert all of our money into gold or crypto gold? That's a better bet than just living your life in fiat money?

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Fiat money, as it is, isn't sustainable. It is destined to fail by hyperinflation at some point in time. Mathematically, it cannot work in the long run. It was doomed from the start. Look up the theory of compounding interest. Look at inflation chart for failed currencies like the mark ~ww1. Everything was fine, until it lost 90% of it's value in 3 months. And this is how hyperinflation almost always happens, long time coming, fast when it does.

There is almost 23 trillion in debt in the usa alone. There is only 1.4t actually dollars exist, and ~14 trillion that is tied up in markets like stocks, CDs, Bonds etc. All the money can go 'poof'. How to repay 23 trillion, without printing more? Or will all those obligations just disappear? That's called a default, and never good.

JayT said:

Fiat money, as it is, isn't sustainable. It is destined to fail by hyperinflation at some point in time. Mathematically, it cannot work in the long run. It was doomed from the start. Look up the theory of compounding interest. Look at inflation chart for failed currencies like the mark ~ww1. Everything was fine, until it lost 90% of it's value in 3 months. And this is how hyperinflation almost always happens, long time coming, fast when it does.

There is almost 23 trillion in debt in the usa alone. There is only 1.4t actually dollars exist, and ~14 trillion that is tied up in markets like stocks, CDs, Bonds etc. All the money can go 'poof'. How to repay 23 trillion, without printing more? Or will all those obligations just disappear? That's called a default, and never good.

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And what, you want to preserve your personal wealth for when this cataclysmic event happens?

MadAboutDomains said:

And what, you want to preserve your personal wealth for when this cataclysmic event happens?

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The most famous story in the history of UK Banking. Brown sells of 1/2 gold reserves. Credit Crises happens. Central bank then turns to printing money aka Helicopter Money as the CB has no other asset that provides instant liquidity

QE and "Crypto" has a lot in common, both are created out of thin air

https://www.telegraph.co.uk/news/po...f-the-UKs-gold-reserves-cost-UK-5billion.html