RE: Market update Tuesday, January 23rd 2018. Slow market as decentralized exchanges are popping up
Fully agree, there is nothing wrong with the fundamentals, it is purely FUD and bearish technicals. Actually the fundamentals are better than ever. It would not surprise me if the big companies are waiting for a scalable way to accept cryptocurrencies and this is now around the corner with LN.
Companies like Amazon will know that they will clog whatever blockchain they pick because they will bring so many transactions that NO SINGLE BLOCKCHAIN CAN HANDLE IT AT THE MOMENT. Now LN is soon consumer ready they might announce something.
For the long term I am not worried at all, but because I am all in with investments and earnings as well im afraid to be forced to sell low for living in the short term. It looks like we will get another drop down to around 7 or 8 k.
HODL!
Yeah..the tech will live on regardless. The currency aspect could fail if this is all it takes for people to jump the ship. But again..who knows what will happen. There are so many variables, so at best we're doing qualified speculations.
I mean..theres the tech itself, then there is psychology, market psychology, the currency aspect, business perspective..it's a whole new ecosystem, and to navigate that is literally impossible. So we are betting, taking a more or less qualified guess that this will change the world. If it doesn't, well..as we were then :)
But..make no mistake..I do not fully understand the power of blockchain technology (who does), but I'm 99% sure it will be implemented in almost anything we use in the future.
So being constantly on the lookout for the next Amazon, Google or Facebook (like Steemit for example) is wise. I own 52 cryptos right now, and even though I have carefully tried to pick the ones that I think will succeed, realistically perhaps 10 will. But if "Amazon" or "alphabet" is one of them, I just need that one to succeed.
On a second note..I don't really see how the currency aspect could fail either..Sure, it could be made difficult to use cryptos practically buying goods and services..but p2p investing etc will be the new norm. Everyone will be able to buy "options" in startups etc through cryptos. That will be the new way to invest.
So the utility of cryptos is so large, that it almost certainly MUST go up. I've analyzed the tech bubble and compared to the amount of todays circulatory money, we must see cryptos valued at a total mcap of 15-20 trillion USD in order to be anywhere near the tech stocks of 2000 in actual mcap size. It was 10% of the entire stock market (world) Cryptos are 0,5%..AND they are currencies as well. It's a system AND investements AND currencies.
In that regard one could even argue that we're not in a real bubble until cryptos are more than 100% of the world stock market, which is of course 150-200x todays price..75-100 trillion USD market cap.
Take your current money in cryptos and 200X it. Now that's a lot of money :)