Holy Crap! What's Causing the Massive Sell-Off in Crypto?
I was just leisurely browsing through Coin Market cap and saw insane declines on all the coins. Steem down to $.60! I'm looking around for news or rumors that could cause such sell-offs and most are saying it's the upcoming Bitcoin Cash hard fork.
Why?
I can understand Bitcoin affecting the overall market but a hard-fork of Bitcoin Cash? WTF? There has to be something else at play here.
Have you checked the stock market? BTC often follows the same trends. This may also be compounded with fork FUD.
But that's not important at this point. What's important is a certain user boosting unexceptional content to an exceptional degree. That user is you, @adonisabril.
Exhibit A
In the anti-abuse, we call that bid bot abuse and that is precisely why you are being flagged. There are far more worthy posts in the respective tags. I also noticed you are powering down so I am skeptical that you have a care about this platform. I will be auditing your blog now. I hope what you have done here is a one-off incident because, if I find more, I will coordinate campaigns for reward removal and the blacklisting of your account.
This post offers hardly any value or insight. You should be more careful about what you promote in the future.
@steemflagrewards
Boosting to an exceptional degree? are you kidding? Are you looking at what's boosted to $400-$500 on trending? And I power down without putting said money out to the exchange. IT's being spent "boosting" posts. Why don't you do your research before jumping to conclusions? Are are you such an idiot that you can't?
Have you seen 2K-3K word posts I post and gathering only responses like "great!" "Cool!" etc. I post this "unexceptional content" and it has a myriad of real responses that have more words than what I actually posted. i.e., ENGAGEMENT! Way more engagement than so-called "exceptional" content. Judgemental morons like you need to open your eyes.
Sometimes the $400-500 makes it under the radar of those willing to moderate content around here.
That or people are scared of the bad whales and will do nothing. We know sometimes whales are prone to retaliate versus accepting criticism like an adult.
I'm working on a technical solution for that. Because bad whales behavior can be cancerous and should be addressed. It may or may not work but hell if I'm not gonna try.
I think there are certain patterns we all, irrespective of stake, should observe if we are at all concerned with collective success.
One of those is being mindful to not boost mediocre posts to Trending as often that is one of the first places new users will see and we don't want to show our ass. Do we???
Posted using Partiko Android
Why don't you address their(whales) circle jerking or are you not aware that's a far more toxic behavior than bot use.
P.S. Why don't you blacklist yourself for trying to "censor" a platform that isn't supposed to be censored? You're doing this platform more harm than good.
Oh... You're another "flags are censorship" people. Do you think words are violence, too?
Bottom line, you got caught up and called out for boosting a shitpost. That's all there is to it.
Just own up to what you are doing and stop trying to justify it. You have zero ground to stand on. What you did was fucked. Period.
If I was taking you to court for shitpost boosting, do you think we would lack evidence? Just scroll up.
You really want to keep arguing about it or do you think it would be better for you to save face and admit your wrong doing?
This is not about censorship. It's more about addressing people using bots to boost low effort user contributions.
This also compromises people actually willing to bust their ass to produce exceptional content without giving up their hard earned liquid Steem / SBD to bot owners.
Not cool, dude. Anyway, you spin it.
Posted using Partiko Android
Then address bots. Go after their owners. Back up your words and your resolve. Own up.
And really. Who are you to judge content? How do you measure what's good? Length of words? Pretty pics? Or did you forget engagement?
I wonder what's all your motivation behind all this...oh I get it. You want to be on the Trending page without the use of bots. Well buddy, you me and the rest of what's left in this world. How do you do that hmm? Exceptional content?
Just hodl guys! also check this article out along with sphtx you will see more good alts to hodl.
http://www.hodlerxl.com/sophiatx/sophiatx-the-blockchain-for-business/
Flagged for bid bot abuse @steemflagrewards
The BCH Hashwar that will start soon is influencing Bitcoin. https://cryptocoach.cc/2018/11/14/bitcoin-is-evolving/
Posted using Partiko Android
Could all be based on fear? I have been following the crypto market only for 2 years, but been following the stock market since 1989. Yes you can have a massive fear in stock market and the stock can fall insanely like we are seeing now. But then it is normally a reason for the fear. And as u ask, what fear is the reason now? Is it doubt on the crypto market and its future? Or is it just a correction in the market that will be lasting for some time before it will raise again!
Posted using Partiko iOS
Usually there's a trigger and I don't know what triggered the sell off.
I don't think it has anything to do with Bitcoin Cash . It is a manipulative dump which has triggered a lot of shorts. The speed indicates it is mostly an electronic move (ie sell orders being executed automatically as price points are hit). It has dropped down just a tad below the Sep 2017 pre-boom low; so if it can recover over the next couple of days up to the previous sideways trading range and this becomes a false breakout that would then actually be a very bullish sign. If it busts though 5200 levels and convincingly breaks down then it is anyones guess how low it goes before it hits bottom. A real breakout needs time not just price to go with it.
Think about it ; if you had a few million in bitcoin after weeks of sideways trading with tightening volumes you could just dump on the market and sell, cause panic and trigger everyone's electronic sell orders , then just buy them back 4 hours later at a 15% discount. This kind of manipulation is exactly why the ETF's for bitcoin keep getting rejected.
Yeah, but it doesn't look like there are any buying back going on.
This is honestly a great positive review of the market. I really hope you are right as you make a lot of sense!
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I would have to say I too don't think the hard fork of BCH is what is causing this. I am sure that the hardfork had some affect but it was not what set the dump off. Very curious how quickly the decline took place.
It's just weird. I know pump and dumps happen but why today and how come all the coins got affected.
Cryptos are just still way to over valued compared to use case... it’s all speculation 😀
Speculations that we bought into.
That’s the truth 😂
Posted using Partiko iOS
!rabbit for your lack of effort.
Sourced from giphy.com
This post has receive a 25.00% upvote.
I noticed it right after the worst part happened lol. I think Binance going down for upgrades might have caused some FOMO due to the large volumes Binance handles. Could be one contributing factor. Also the BCH fork. BCH has managed to stay in the green during this.