[0094] Cryptocurrency Trends for 2018: Lag, Lock Outs & Traffic Jams
There's something new to factor for when trading cryptocurrency. And it's not the massive dumps made by Wall St.
It's "lock outs".
This morning when I went to make some trades over breakfast, I was greeted with the 'customary greeting' telling me that the #Ethereum network was snowed under. And not very useable.
Lock outs from exchanges for new accounts, heavy network loads on websites and heavy traffic on the #Bitcoin and #Ethereum networks are something of a trend in cryptocurrency.
#Cryptopia has shutdown the #Dogecoin and #Litecoin trading pairs, presumably because they have made a huge mathematical mistake with them that only showed up when there was massive trading volume. #Binance announced the other day they were under strain to cope with the 250,000 new sign ups per day. People selling exchange accounts on eBay...
Madness. And cryptocurrency is not even a mainstream trend yet. Imagine when it becomes the next yo yo craze and everyone is walking the dog and going around the moon?
Expect more 'massive scaling issues' in the first half of 2018.
Being unable to trade will be a major issue in the first half of this year, so don't get your heart set on trading the spikes and dips at the leisurely pace you are used to. Due to the heavy loads, it now will pay you to be decisive on the trades you do make and more of a HODL'er when you successfully make them. As buying and quick selling make leave you open to a big mistake.
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DISCLAIMER: This article is written by an amateur investor and is offered purely for information purposes. This is not financial advice and you should always seek the advice of a finance professional.
Thank you for your take on this, I noticed today as I tried to get ETH that everything seems to be under maintenance from the overload of new users, myself being one of them. Especially with some sites not accepting new registrations like Poloniex and Bittrex. Hopefully, everyone working on the trending issues are able to restore access to their sites and keep up with the volume of new users.
I think you can expect heavy traffic for quite some time. But there is an opportunity in it. Look around at some of the newer exchanges that are popping up and maybe get in on the ground floor of their coin offerings. I also predict that one of the newcomers will overtake the established exchanges because of this issue.
Speaking of traffic, Atlanta traffic so horrible!!! Lol :P