missing logic in people's expectation of crypto prices
I'm gonna make my point simple, in few words, cause I believe we all need to think about this issue. no one os eligible to bring up a manifest for our crypto enthusiasm, but we all as part of the ecosystem should try our best to build a mature atmosphere for sustainable growth.
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point 1.
crypto is not a commodity in its essence. there should be a use, application, need, reason for its existence.
when we treat crypto only as a speculative asset, we demolish its potential to serve us as an innovation.
point 2.
we should hold cryptos which we understand their philosophy, application and mechanism. the white paper, algorithm, blue paper etc.
you should breathe in the ecosystem to adopt it.
point 3.
rational price expectations.
Bitcoin to the moon,
ethereum to the moon,
STEEM to the moon.... why???
just because I hold 5 bitcoins I pray for $100,000 BTC, and then what?!
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I'm gonna opt out of BTC and enjoy my $500,000 in Barbados islands?!
Ironic but this is exactly what we have witnessed over last year.
Point 4.
we should implement blockchain technology and its dApps in our life and business more. one step at a time, we should engage more, so in a long run, decentralisation pays us back in mode of quality of living, better wealth distribution, higher incomes, more secure assets, easier financial transactions etc.
we have to adopt the idea of cryptos in our real life and business. not only holding tokens in our wallet.
A lot of "we have to"... Using your own words: Why?
What happened last year was a bubble. Same happened in 2013 and will happen again. When the large majority of ppl are on the move with something like BTC rest assured it is ONLY a matter of supply and demand and typically extremely highly speculative. Now... Why should that be regarded as something wrong? Imo it's just another motive.
Frankly... I personally welcome the volatility as it gives me 10-fold amount of opportunities to trade these markets.
The funniest is to read news like "is ETH dead" and then look at someone drawing conclusions based on intraday hourly charts.
Now... I think the crypto environment (hate the word ecosystem) is only at it's early "baby stage". All the practical developments will happen through a natural urge to develop something new. It won't happen by "we have to".
you probably prefer McAfee statements. I like the way you comment, so I will follow you so I can learn more from you. :)
I appreciate your comment and I see you have a point here, though I disagree with some:
the term "we have to" shows my suggestion, it's not a fact, not a must etc. it's the way I believe behaving will help the ... ecosystem!
and the ecosystem:
crypto and blockchain have brought us new environment with too many parts and members and players interacting each other. there are certain rules for this new atmosphere and many are yet to be discovered, so I like to call it an ecosystem.
I agree, chaos is a ladder! I do trading myself. maybe I missed explaining the problem: some are trying to become rich, only HODLING it's possible, but it's not helping the crypto thing! because once they get wherever they want, they will become the seller-push to bring it down again. they don't adopt the technology. it's not BAD, but it's not good either!
Thank you for your reply.
McAfee represents the ultimate bull for me. For his vision to become reality a similar technical bubble vs the long term trend needs to develop as was seen in 2012-2014. All ok and to some probability possible for it to happen, but rather than counting on it I prefer to take a tad more modest approach regarding long term trending for the expected value. Even in the modest scenario most probably over 10% monthly returns even for holders sounds like a total abstraction to anyone entering this world especially from trading / investing into more traditional asset classes :D
McAfee delivers one solid key fundamental tho. The global banking system is imo already practically belly up. Bankrupt. That means that institutional money will sooner or later heavily allocate into cryptos (most probably the few liquid ones) and when that happens we are very potentially dealing with a situation McAfee is basing his vision on.
great explanation, now I know more about how you look in to crypto.
I still prefer to see people adopting the technology, in their life and business, rather than holding crypto for speculating. there is nothing wrong with it, like holding stocks at NASDAQ to become rich, while it helps the companies developing faster, too.
I'm not with McAfee... honestly...! neither technically nor fundamentally!
anyway, glad to meet you here, we will keep contact hopefully
Hi!!! I agree!!! I post sometimes articles relating the same subject. I m surprised to read your article as long as it is a rare thematology! Most people cannot understand these realities concerning the Cryptosphere and its essence. They almost destroy the whole concept of a new independent economic system liberated from the third-party obligation and from the absolute power of the institutional money which is the main reason of slavery and wars. Most people dream of a BTC high price to exchange it immediately against fiat money while they claim the decentralization and the privacy but they don't hesitate to pass the KYC and wait impatiently the... SEC approval for ETF... because likewise, they expect the BTC to the moon just for selling it for dollars... And then they talk about massive adoption of cryptos etc... but how? This massive adoption is not going to happen through the exchanges and the speculation which is the 90% of the actual utility of the BTC and altcoins nowadays... Missing logic, yes! And no rationality in the horizon... Thanks, I upvoted resteemed and follow you! Have a nice Friday and great articles like this one!!!
thanks for stopping by and your comment
maybe we are pay off our part to create the logic and culture of crypto 😀
Great article and thanks for sharing. Has a lot of great talking points.
Great article and
Thanks for sharing. Has a lot
Of great talking points.
- pheonixdown-dee
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Please upvote me please i am new on steemit please upvote me
stop begging for few cents
go and create something worthy
Since I am quite novice at crypto & steemit, it was really useful and instructive for me.
Nima thanks for being here
Steemit and STEEM blockchain need talent people like you to step in to maturity.
good luck 🍀
i wish the same too. perhaps if btc to the moon, we can meet up at Barbatos Island.
hehe but i prefer to steem on and make constant money 😎
This is especially important for community driven crypto currencies.
thanks buddy :)
I could not agree more, until we start using blockchain technology in our lives everyday we are not going to unlock the true power of this technology, this tech can truely change our world, if we can get the world to look past the financial icing that's hiding the color of the cake Satoshi Nakamoto baked for us we will unlock things with it that we only dream about...That's my belief.
well said 👏👏👏
Crypto is still a alien like things for major portion of population...last year most of the people invested in crypto just because on some review or youtuber that told blah.blah ..blah coin will go to the moon without doing any technical analysis.
Blockchain and cryptocurreny is a technology , it has purpose and meaning, how it can solve real life problem...then only anybody's crypto investment will be successful and can make money.