Cryptocurrency Craze
We are so into cryptocurrency bubble era, how long this will last nobody knows, what happens when bubble gets inflated way too much? It will pop and so many people will lose money. Market cap has gone up way too much and way too fast.
There are so many experts out there and the general atmosphere is that we are in the bubble, it's gonna blow. While bitcoin maximalists say that only altcoin markets will bust and bitcoin will stay strong, in the end nobody really knows what will happen. Are we going to 200 billion market cap, trillion perhaps if this goes ballistic, or we go back down to 20 billion market cap? Again, nobody knows. Strong fundamental intrinsic value of cryptocurrencies keeps me optimistic that the bullish trend will continue, correction is inevitable though.
Altcoins new Bitcoins?
Right now in crypto space new bitcoins are rising up in terms of profitability, ethereum was 20 cents 2 years ago, look at it now, it's a new bitcoin with 1000x profit if you bought at 20 cents. There are so many more out there that could possibly end up being new bitcoins, Digibyte went 40x in 2 months, my largest opportunity to win big, but I sold way to early. Waves went from 30 cents to 3 dollars, opportunities are everywhere in altcoins, people can become very rich very fast, fascinating times we are living in.
The thing about Steem
We are sitting on a fully functioning rising platform with the fastest blockchain with so many great possibilities most people are not aware of. We are not even close to mainstream and our user numbers are going up nicely. Oldtimers here on steemit are used to 10 cent steem price, 13x from that point is a bubble, if the price dumps which is a very probable scenario, long term for steem is still bullish, as long as devs keep on improving the platform and the community continues producing great blogs and we improve user retention. I think we are good in all those areas and we don't need to be scared of any possible bubble pops. So keep on Steeming Steemsters, we are golden!
It is interesting indeed. Looks like this bubble is not ready to pop yet.
Last week I read about Apple approaching a Billion Dollar market cap. There's a bubble that is ready to pop. All cryptos combined are not even 10% of Apple and that is only one company of many. So I think cryptos are not even began to move in comparison to that.
Those 100x, 1000x are happening, is it sustainable, hardly. It is not ready to pop yet but if it does pop I think nobody would be shocked too much. Time will tell.
'so many great possibilities most people are not aware of' - i think this is the huge takeaway for me of this post. sure, want digital cash, a way to pay without a middleman or bank account. i'd love to eradicate having a paypal account but i'm tied to it because i rarely have a full time physical address, for those on the move, homeless, digitally nomadic or even with super bad credit, crypto could be the saving grace also for survival - also, done right, someone could easily develop some tools/apps to help those who get money and spend badly - spend on drugs/alchol because of access but instead teach people about investments, gamification of the receiving of value. the scope of crypto currency for me as i see it is bigger than how much profit someone can make.
lol, sorry i had not had the first coffee of the day when i responded.
Implication for cryptocurrencies are endless, and all the altcoins together with bitcoin became a very robust system. They can hardly go to 0 ever again, whole system is connected, that is why if the bubble pops, we will recover and keep on growing.
that's another area i'd love to hear more people talk about however - 'while the whole system is connected' - what does the crypto ddos look like? - are we globally using resources we can't afford to use to keep the power going to the mining component? how do we scale the power needs to match? - i never hear people talk about the ramifications of the crypto verse on the environment, it HAS to have some as it scales. .. then again, i have no idea of the existing power requirements of a global bunch of ATM boxes. hmm, maybe i should start there.
There are many alternatives vs proof of work mining that consumes way too much energy. Proof of stake will be enough to keep the system going. Ethereum will become PoS, Waves are PoS, there are so many solutions to keep the blockchain going.
interesting. i have much to learn, i'm sure i will have time to deep dive all of this after i start to make my transition to another country! :)
Currently on a missionary task of Steemizing my surroundings. :) Nice article, upvote & follow.
I cant believe bitcoin is up by more than $1000 within 1 month.
I wonder how the altcoins will react if bitcoin keeps this momentum.
Altcoins would dump whenever bitcoin goes up, however, they remarkably hold these days. Strange times.
it will be scary when this bubble pop but if it is really a bubble, it should pop sooner than later
Daily charts clearly show it is a bubble, 4 months from 30 bill to 90 bill market cap. That is insane, or people finally started to realize the power of the blockchain technologies. Then this is just a start :)
We're in final stages, 20% price increase daily.
wonder what the future holds for us... until then, enjoy the ride :)
Precisely :)
interesting.
nobody knows about its future
It will be fun to return to this blog post 2 months from now and see how our concerns were founded or unfounded :)
which bubble? :D
Crypto bubble. Price bubble. It inflates and can't sustain itself, it pops, people cry :)
We will see, whether there is any bubble .. or just bubble gum :D
veri unterest and good amazing
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