An Emotional Response to the Cryptocurrency Market Crash
Please have a look at this BTS price orders..
We have so many TA gurus who kept on predicting the rise, but we seriously need some TA gurus here who will also be able to predict falls/crashes and can warn us before we start to make big losses.. at this point I totally stopped trading and decided to settle down with HODL strategy..
All these hacking and regulation related news have really shaken the market and not to mention the sudden ghost of Empty Gox keep appearing every now and then..
But hey I thought Ripple was the favorite of banks and now I'm thinking if the banks have also turned their back on their so called favorite Cryptocurrency..
I will not blame the hackers for anything because they are whole heartedly doing their "job"
I won't also blame the government because it was their long-term objective to anyhow have their control on cryptocurrency and they are also doing their job nicely.
I won't also blame the bankers because they were also trying to make their competitors go weak and they are doing their job fine..
But I will definitely blame any crypto investors because we failed to do our job properly..
When our seniors have warned us not to get involved with Ripple, Tether, or even Bitconnect.. a lot of us ignored those warnings and went ahead.. Now look how badly the market is shaken.. its because we failed to play our role while governments and banks played their best..
Its almost 3 months since the crypto crash from the market's ATH and it keeps falling and falling.. I know many of you will say this is common in crypto market.. but something just don't feel right to me..
And I'm also worried about the future of Steem. What kind of future do we have here on Steemit.. There is no implementation of the original vision of Steem's creators.. instead the blockchain.. or rather say Steemit.com the social media is totally going in a different direction.. perhaps in the future this place will have no need for human interactions as more than half is already being controlled by BOTS or lets say owner of those bots.. I just hope Steem / SBD tokens manages to stay above $2.
And so I say no more.. We are in a bad state now, especially if you are totally dependent on Crypto for your day to day expenses, so I wouldn't ask you to upvote this post, rather use it for self-voting, however, if you have some VP to spare, please consider upvoting this post. Thanks
This is a pretty good post and I think you have valid concerns. I think we will see extreme highs and lows in the crypto market for the next 7-10 years as the new economy matures. I'm in a HODL pattern too. The massive swings are part of the growing process, I believe.
With all these regulations and hackers stealing crypto every now and then.. and scammers like Mt.Gox stealing money from their customers and then declaring bankruptcy and dumping huge quantity of BTC in just one day and now we hear the latest from Alphabet to ban any crypto related ads on their Google.. do you really see this industry has room for growth in the next 7-10 years? A great deal of people were in crypto because of its anonymity but now that people will be forced to verify their identity before they could buy or sell crypto with fiats and also the tax from every transactions is definitely making the market drop.. if things continue to fall like this, many miners would stop their rigs and asics as they will be burning more in electricity and less in revenue.. I personally think if we can manage to trade commodities with crypto directly, without the need for exchanging them for fiat and then pay bills only then regulators won't be able to regulate crypto but then again the volatility :(
My friend, you are not going to like this reply.
The governments will regulate crypto and there's no getting around it. In this modern age of AI, robotics, and constant monitoring there's no hiding from any entity who "really" wants to know what you're up to and what you have.
The blockchain industry will boom over the next decade and there will be winners and losers in the game. Blockchain Developers will become very rich. Some will become quite famous.
Certified Public Accountants will see their work being done by computer programs and their jobs will eventually be eliminated.
ALL DATA on the Internet will be stored via corporate built centralized blockchains so that they can prove EVERYTHING. They will do it so they can't be caught lying by their governments.
The beautiful intentions of blockchain (anonymity and freedom) will be exploited and turned into weapons against those very intentions. It sucks, but it's true.
In the mean time, invest what you can in what you believe are good blockchains...whichever one's those may be. And may the odds be forever in your favor...
Coins mentioned in post:
Sadly, I Ignore the instruction from those gurus & Invested in Ripple. I thought It's a great project. But I was wrong. I am not gonna sell my ripple in loss untill the end of this year. let's see if they can recover my loss. I bought them on $2.1 :)
Upvoted!
Don't worry about the price of steem. Steemit is a great project & many investors are coming to invest on this platform.
There is only 1 problem right now which is the new account creation process which is taking too long.
Many people wants to join this platform but they are waiting for even months for their account. They are not getting confirmation email from steemit. If they (steemit) can manage to find the solution for new accounts & this platform will get success in Months & Many Investors will come and invest in this platform. And then you will see the price of steem will rise again. And I am not seeing steem at below $2.
Upvoted by the way! But that Upvote not gonna help you because of my low steem power :)
Oh? But what will be situation of steemit in future would you guide me please? @skreza
I can not guide you.. because I'm in a position where I need somebody to guide me first
Hi @skreza Bro :) can you tell me the difference between two currencies steem and steem dollars ?
Steem and SBD ate both cryptocurrency like Bitcoin.. You can buy or sell just like Bitcoin.. BUT you can mine Bitcoin using highly specialised hardware and burn lots of electricity. But mining Steem or SBD doesn't need hardware but through upvotes.
Now there's a twist.. not all upvotes are same.. someone who converts their Steem into Steem Power will have more values in their upvotes. The more Steem Power you have the more influence your upvotes will be.
ripple is the scum of the earth, pls dont believe what they say. too many lies already.
I was never in favor of Ripple.. only because of the name Mt.Gox associated with it. The founder of Ripple was the co-founder of Mt.Gox.. now look how Mt.Gox is dumping BTC making the market fall so badly..
And did you know the founder of Ripple is the richest crypto billionaire.. now guess where his wealth came from :p