๐ฏWinter SALE for Cryptocurrencies! ๐ข - 70% OFF! - ๐ Why it's a great time? ๐
Hello Steemit friends,
Whooaaa! What a ride! The whole market faltering in big double digits.. and is going down further.. the first real bloodbath of 2018! And to be honest the first real crash i'm consciously experiencing.. funny thing about that i'd started writing that post about 2 weeks ago and delayed and now i must use even stronger words to describe the event in front of my eyes..
For all who missed my presence the last weeks.. i'm back again but currently with a much lower frequency of posting but will continue in shorter cycles if possible.
Are you nervous, stressed or panicking? ๐
I hope not! That might sound ridiculous to you, but currently i'm feeling quite well if not to say (sometimes) happy because of the event. Because i was even angry to see the ten, twenty or forty baggers of the past when i was not in the crypto space and i was fearful when EOS jumped over $10 so fast and build a billion market cap just with a test environment on the market.. means i was nervous and stressed before the bloodbath event but not now. I didn't sold a single coin because of the price drop.
Technology is constantly growing ๐
Think of a invisible chart curve, which nobody reveals on coinmarketcap.com or other websites and which is contrary to price.. BUT WAIT A MINUTE.. just one, look at the growing node network for Lightning Network to give you a picture..
CLICK IMAGE
You see the increasing number of nodes and it's obvious there is worldwide interest to establish these payment channels with Lightning Network (almost zero fees, instant transaction). At some point it could grow exponentially like the Internet did. It's currently very early for LN and other blockchain projects. But ebay rumors are out now and maybe we see the first major adoption by a big company in 2018.. just imagine if Steam will come back, followed by others who just waited for the right time..
qualitative chart of crypto market vs. technology growth - V-point is the crossroad between undervalued and overvalued
These contradictionary curves are similar to a price-earnings ratio in stock market. Bad news could be the best for an investor who recognized the fundamental value in a company which was beaten down by Mr. Market. If you know the P/E15 line (Peter Lynch) and look a the crossing parts you can imagine how i look at the technology level vs. price development. The wonderful thing ๐ about blockchain technology or technology at all is.. IT GOES ALWAYS UP because it is a basic need of mankind to grow and makes companies and products behind more and more valuable!
Steemit a bit decoupled from the pack ๐ช
STEEM showed strong resistance in price the last weeks despite the crashing market. Now that's a clear sign for me of a strong community and application, combined with the smart decision of the power up/down system
That's the difference between real usage and a worthless token.. (s. more down below). But now the Bitcoin gravity worked even on STEEM like a sea anchor.. but i think STEEM can quickly recover after the firesale.
๐ฒ Cryptocurrencies on Sale NOW! Up to 90% OFF! ๐ฒ
For me that's wonderful opportunity to pick up great projects, companies on sale! Bitcoin right now at $6,835. That's 66% off from the December 17th all time high at about $20,050. Really!, i don't fully understand such firesale prices currently but if someone needs the money.. it's ok. But i cannot imagine to sell one of the great developing projects at a price low than that now, especially if you know that they will hit some important milestones on their roadmap in 2018.
Running away saved many lifes in the past, bears, wolves and maybe mammoths threatened our lives in times we lived in caves and fought with our bare hands or wooden clubs. But in investing it's often connected to fatal losses if you're becoming one sheep in a huge running herd. So my general advice to myself is
think before acting my friends and talk to yourself and ask some questions before make any decision:
What are the fundamentals? ๐ญ
.. or the disconnection between emotions and reality i would call it. Because we are always driven by our emotions we should influence ourselves in a manner to make better decisions.
Questions are:
Why i bought a coin?
(normally for long term investment, because i believed in the product, management/team and markets)Is this coin a real currency, infrastructure blockchain or just a token?
(i think there is often a misconception if you just look in to coinmarketcap.com and see all the coins side by side. It paints a picture of equality but there are certain types of projects, incentives, long term goals and the value is NOT PRICE!)Has this coin a real value?
(for a currency like Bitcoin is it a question of store of value, real world ๐ payments, merchant adoption, for a token it could be the transfer of value between users of the ecosystem or even the share of revenue on ticket sales to name examples, infrastructure projects like EOS build a OS for future dApps and can grow massively in value)Is the current market value appropiate compared to the fundamentals?
(undervalued, overvalued - sure, not easy to answer, i often bend my mind to stocks and underlying value in companies and ask the question Does that makes sense? - maybe a multibillion dollar valuation for a utility token without much value could makes absolutely no sense, otherwise a coin for the next blockchain Windows could be still undervalued..)Situation for the coin has changed?
(if yes, for the negative and can that be fixed? If yes everything is fine!)What are the future prospects of the coin?
(already alpha, beta product launched? big exchanges? pace of progress? met promises?)After answering the questions to myself which is sometimes just a inner game in seconds or a research on Google i'm often satisfied with my decision and calm down. Everybody fears something, but for mit the big red numbers of coinmarketcap.com are now a welcome present not a threat to my portfolio, because i ask a last question?
Are there any coins i wanna invest now with a price drop of 50, 70 or even 80%?
Because in any bad situation there is always something good!
So i look through my small portfolio and what may i add to a position or remember why i bought a coin or which i passed because it was just too expensive or for a specific reason. Following a sample section of my spreadsheet to keep track without the numbers. Such bookkeeping helps not fall prey to any emotions and just look at the numbers and real reasons.
Currently i would if i could add up to Bread (BRD), EOS (EOS), STEEM POWER, Bitcoin (BTC), TenX (PAY), Pundi X (PXS).. but there are many more and it depends always on YOUR CIRCLE OF COMPETENCE and not mine. The market is beaten down nethertheless still up year-to-year.
My recommendation (to myself)
๐ง Just listen to the following music ๐ถ , do your daily work, don't panic sell like so many do nowadays..
Voyage 2 (Chillwave - Retrowave - Synthwave Mix) - by SoulSearchAndDestroy
if you really believe in the technology ๐ก, in the future of blockchain and cryptocurrencies.. if you know you bought really valuable assets which will grow soon.. ๐ BECAUSE IF YOU SELL NOW.. ๐ฏ others will buy at firesale prices and add up to their already HUGE POSITIONS.. ๐ฐ๐ฐ๐ฐ banks, lying FUD makers ๐, rich investors.. BECAUSE THAT'S ALSO A GAME of new wealth distribution.. ๐ฐ BUT ONLY IF YOU.. think before you act.
I don't know how low we can get, but Bitcoin is the defining element currently. Maybe we see $5,000 and lower or we fly like a sling shot right back to the top, nobody knows.
But i'm confident that we live in one of the most exciting times of the Internet and that the Internet of Value is something unique with huge impact for our lifes in the not so distant future.
๐ If you like the read please follow me, vote me up and resteem! ๐ Thank you !๐
see also my other posts
Exciting times ahead steemit friends!
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@onetin84 sir...
Actualy....Digital money can make us rich to deal with ourselves. I genuinely trust that. Be that as it may, what I additionally accept is that it will influence us to sufficiently fit to serve the penniless also.
It is absolutely difficult for all to give. Every one is battling in their own specific manners. In any case, that is the magnificence of life is it not? One who has seen the intense time will identify towards the one enduring. Such a one when independent can promptly consider helping other people. When I put in endeavors to gain, I should put in little endeavors along to share.
One might be poor out of absence of education, another might be expected life's weight of overwhelming obligations, another might be out of sheer apathy and some might be not able meet the sudden needs of life. In any case, the truth of the matter is same. They all need assistance. From numerous points of view it can be tended to....
Yes, that is a wonderful opportunity and is a good reminder.. thank you! Just look here on Steemit, it is the perfect demonstration of that peer2peer principle. I remember a family a month ago who asked for donation here on Steemit for a wheelchair for their disabled child.
You can then give a full upvote or multiple if you have enough Steem Power (like i did) or make instant transaction with your wallet. Me and my wife often discussed the issue with charity organizations or simply the middleman and that was sometimes the reason we didn't participated.
Sure, there are always scammer in peer2peer communication, but you can directly try to verify that without a middleman who often don't want that and leaves you in the dark. But we see that phenomen in these countries who were robbed by Western Union with ridiciulous double digit fees. Our family also made the experience with money transactions to russian family.. always the middlemen took a huge cut.. and built another temple of glass and steel to show their power.. so cryptocurrencies have a very important social function in this world, like the funny Doge also proved.
For poor countries cryptocurrencies are real money for daily payments, and a few in the first world who learned to live even with just a few merchants who accept it. But i see the transformation soon with all the bridge builders who arising from ICO's like TenX, Bread, Pundi X. These companies connect the physical with the crypto world teach people how to adopt digital cash in their daily lifes.. in the moment they recognize how money can work without a middleman, they will be surprised how long they accepted these artificial slowdowns and fee monsters by banks. But that just happens if the same problems are solved in not just in STEEM, which did it from the start.
The biggest sale i have ever seen in my life just keep buying this is the right time :)
oh yes, by just keeping the many developments in mind for this year alone. Very important to me the scalability issue (Raiden for Ethereum, Trinity for Neo, Lightning for Bitcoin and others) and establish appropiate regulation framework which works for both sides and let the technology unfold their full potential for mass adoption. Regulators should help to avoid scams and support good projects and usage of cryptocurrencies. Both could create a good leverage for the whole market. No country would be stupid to not participate in the race. The market shows first signs of recovery now, let's see tomorrow. Thank you!
The central banks would always feel threatened by cryptocurency market. Truly in life whatever is doing well without any form of centralised checking system would always be a threat to centralise controlled systems which would always seek to control that system. (story of central banks and crypto)
yes, because mankind build such structures in hundreds of years in time and people are now enslaved. The truth of such peer2peer exchange of value it works without the middleman like giving something from hand to hand, naturally like intented, like communicating. I would not say that banks are useless, but the exaggeration in wealth robbery by central institutions is mind-blowing and is not the real function of such intermediaries, but most of the people take that for granted and simply accept zero interest rate for their deposited money, high fees for almost no service, delays in transactions, controlled like babies by their parents.. because many simply accept it. But with self consciousness, responsibility and the right technology it could be a much much more interesting and better world.. if you want.
Thank you!
The national banks would dependably feel undermined by cryptocurency showcase. Genuinely in life whatever is doing admirably with no type of incorporated checking framework would dependably be a risk to concentrate controlled frameworks which would dependably try to control that framework
The thing is, it's already unstoppable. Whether they would prohibit Bitcoin or not, the blockchain takes care of itself, millions of nodes are already established worldwide. It's impossible to stop them, they are simply running forever. I see a symbiosis of regulated frameworks and cryptocurrencies. But the total control is over for the benefit of many people in the world and the banks and governments itself.
When you have no money to add to your portfolio- sales are literally torture
True, i'm in the same position ๐ .. but if i could
It makes me wanna sell all my things and live in a box with my little bitcoins
@onetin84, Absolutely you discussed huge topic in this moment. Lot of peoples really disappointed currently coz crypto market going to the bullshit hell. As me time to buy dip and keep HODL now. After start crypto gain we can trade in without any risk and multiple earnings. I most believe steem token. After get some decisions of Centralized banks and governments crypto shown crash. Yo were nicely analyzed there and told don't be upset. Clearly showing high movement after coming out SMTs.
Followed/ Upvoted.
You mentioned another great development with SMT.. that's the kind which will eventually lead to millions of different tokens for exchange between people. Many argue of the dilution with growing number of coins, but i think we'll see a power distribution curve like Antonopoulos described with some leading coins and a huge tail of thousands and millions.. each with some small use case. Thank you.
๐ useful
as they said "buy when it law and sell when it high" that is the rule.
I already followed you ๐
yes, old trading rule, but it's almost impossible to time the markets. We saw the parabolic rise but at $20,000 nobody exactly knewed that we would fall to almost 1/3 of market value in such a short time and nobody knows if all the price predictions of 30k - 60k for Bitcoin will ever emerge in 2018. Andreas Antonopoulos predicted 3-4 more bubble til mass adoption. Now that was one of them and in theory we should 2-3 more in the future. Thank you!
As you said, the reception time
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Not exactly panicking but like you said Crypto currencies are on sale I am in that kind of mood ;)