I think you rely on too much technical analysis Haejin but you have more trading experience than I do. The fundamentals are still solid, there's nothing i can think of to truly be worried about other than quantum computing.
This price drop is great for the cryptospace, i hope it continues to sub 3000, this will allow more normal folk to get in and have a chance of accumulating at least a bitcoin.
Yes, this correction is very healthy.
BTW am I seeing what's in my head or is BCH itching on that inverse corelation?
Did you somehow mean BTC has solid fundamentals??? If you did mean that, I'll give you the benefit of the doubt and tell you that you are uninformed because the alternative scenario is you being a plain retard.
BTC has the weakest fundamentals in all of top 50 (maybe even top 100) cryptos. It's a piece of junk running on first mover advantage. Finally the age of BTC dominance is coming to an end and I'm really happy. I'm not a TA guy. I'm a fundamentals guy. Saying BTC has fundamentals is like saying JC Penny has solid fundamentals.
Hilarious how you're turning this into a personal attack. Talk about biased. I'm coin agnostic and diversified idgaf.
Wish you would have elaborated on the fundamentals more. Bitcoin does have the "first mover advantage" and it being the "netscape" of cryptos is most definitely plausible. We all measure things differently, don't be butthurt others don't see it your way. I certainly don't and am always learning.
I was pointing out your uninformed and incorrect assumption about BTC having solid fundamentals. I do have to assume that either you haven't done enough research or just plain dumb. I gave you the benefit of the doubt.
I'm not butthurt. I simply see the facts. You can't flex the facts. BTC has higher than VISA Tx fees. Transaction times can even take days while Dash (and PIVX) offer 1.3 second transactions for almost 1/100th the cost. BTC has ZERO governance while many coins have built in governance structure. BTC community is toxic, full of censorship and doesn't even stick to its promises. BTC has no privacy functions. SegWit can compromise security and has done little to solve the scaling issue. Year 2017 had negative BTC merchant adoption which had NEVER occurred in any popular crypto.
BTC has no solid future roadmap. It has no Ease of use features such as user names. All these problems have already been solved by other coins and anything BTC can do, Alt can do better.
This is the objective reality of BTC. Either you weren't aware of the facts or you are just a retard. I'm just stating the facts.
You're looking at the protocol layer of BTC there will be layers built on top of it like lightning network that will scale to insanely low fees and instant transactions.
Segwit was an implementation to easily add in Lightning networks along with its benefits of reducing the amount of data signatures take on each block. Go into Vertcoin slack channel and talk to their dev if you don't believe me. He constantly is testing lightning networks.
The governance issue is a real issue. Which is why I diversify into others like Tezos. But is there a governance system for Dash and Pivx? Also how does it work because just voting isn't enough of it requires a hardfork still.
You seem to really like dash and pivx which leads me to believe your tribalism mentality has caught you. I like them as well but dash is already having issues with their privacy features and if that's what you care about then Monero has already proven to be the best privacy coin (it was the only untraceable coin during many raids on the darknet)
Also if bitcoin has no privacy feature then why are the hackers of the Equifax hack Asking for BTC rather than Dash/PIVX??? It's because the best way to privacy is offchain. It's better for these hackers to hop on a foreign exchange and mix their coins through it.
Wish you gave me a better argument to change my mind. Will still upvote you for your engagement
There are coins that are working on/already completed working on many improvements on the protocol level. That's an edge over BTC.
https://steemit.com/bitcoin/@modprobe/i-looked-into-segwit-and-here-s-what-i-saw
Above is a very informative post that received many upvotes. Please read it. SegWit won't do anything significant for scaling. Lightning networks are not a protocol level developments.
Dash was created for the sake of governance, privacy and mass adoption and PIVX went don't fix it if isn't broke path. Dash has perfect governance. Bitcoin had years of conflicts and still couldn't properly solve scaling problem. There are 1MB,2MB,8MB block groups while Dash solved the entire issue in matter of hours and already on the way to 400MB blocks. That is efficiency and competence which is why I love Dash (and PIVX copied it so.... love them too.)
XMR transaction upto 2016 was broken. It was an unintended scam till 2016.
https://www.dashforcenews.com/blocksci-paper-highlights-blockchain-traceability-issues-potential-future-risks-dash/
https://www.dashforcenews.com/bitcoin-abc-lead-dev-2017-is-the-first-year-with-negative-bitcoin-merchant-adoption/
https://www.dashforcenews.com/5-things-casual-investors-missed-dash/
https://www.dashforcenews.com/why-the-crypto-world-is-a-loud-hostile-place/
In the case of hackers: https://www.dashforcenews.com/imbeciles-guide-ransomware-attack/
BTC is easier to acquire with Fiat.It's name is known by a wider audience. Dash has never had its privacy broken. It will never require a BCH,ETC style Hard Fork because Dash was built from the protocol level to prevent that.
Also BTC has unpaid nodes while Dash pays the masternodes which is a model copied by so many other coins. BTC is simply a terrible long term investment. Dash isn't the only coin I'm a fan of. I love NEM, NEO, Factom,Bytom and many more. I look for the tech instead of sentiment behind the project.
Fair enough, it seems you have a philosophical disagreement with how things are implemented. You would prefer things changed from the bottom up(at protocol level) rather than built on top of.
I wonder if trusting only whales with masternodes to govern for the rest of us is the best solution over say, electing witnesses/representatives like steem/ark etc. But incentive wise it could be better. Thanks for the info will continue to look into Dash more.
I'm kind of obsessive with fundamentals.
Quoting The Revenant - Movie: When there is a storm, and you stand in front of a tree, if you look at it's branches, you swear it will fall, But if you watch the trunk, you will see it's stability.
I'm a fan of efficiency and I consider 3 factors that should decide who gets a say:
#1 Technocracy - Who are already good at their game. Eg: @haejin
#2 Meritocracy - Growth potential/self-development/learning and proving themselves capable Eg: The Big Short guys from the movie
#3 Skin in the game.
I don't give a damn about decentralization. I want the highest level of performance. If decision makers fulfill above criteria they will produce results. Results is what I care about.
You need 1000 Dash or 10,000 PIVX for a masternode. There is incentive for them to be good decision makers. So they either already good or they learn or they burn. Plus the community will keep a keener eye since the masternodes have their perks.
Dash and similar systems has no risk of growing into a tragedy of the commons. Please read the following article: https://www.dashforcenews.com/bitcoin-disincentivizes-community-harmony/