Bitcoin Cash Plummets 18% Overnight: What Triggered the Massive Drop?
You can see that the market is controlled by the hands of few actors. A simple dispute between two camps and one more coins will be created from the split.
Personally, I don't care about BCH and Bitcoin ABC!
Source of shared Link
Yeah it’s rough watching everything tank. I wish we could be independent of BTC. One day maybe...
what do you mean by being independent from btc?
having it own fiat pairs? it won't do jack shit to rempve bitcoin influence from the price.
The solution is to remove from the Bitcoin standard and pegged to multiple stablecoins, fiat pairs, and precious metals to create stability in the market.
That won't bring stability in the market. It would just create fake peace and centralization. The Bitcoin standard is needed and can't be replaced. Ofcourse another crypto can replace it but it would be called ___Standard. It the crypto reserve asset of the crypto economy like how USD is. What you might be asking is another reserve asset for the cryptoeconomy and that most likely points to USDT(or like minded stablecoins or Eth). It still won't replace the Bitcoin standard but gives more options and slower effects.
Also you should read the book The Bitcoin Standard while it has some bias to other coins it talks more about the economy and how bitcoin is related to it. It an amazing book that taught me alot.
I love reading, maybe this book can provide a fresh perspective. I'm just tired to see the whole market drained by BTC.
Yeah it kinda of sad seeing it but it just how the market works. More pairs which are being adding are making those effects weaker ie eth and fiatcoins. However it will never go away(it might be replaced with another coin though-but). As the market grows you notice the effects each time will get weaker(happening now) but still be there. It still a new market after all.
I agree.
Why do you feel this way @sames? So you think all crypto is going to be forever linked to BTC? That none will ever gave independence and. E able to determine its own path?
It might not be Bitcoin but another asset may replace it. Markets need a common asset that ties everything together. Before it was gold, now it usd and for crypto it Bitcoin. There no such thing as independence. Your just going to swap one common asset for another. I do hope it not Usd bc that would suck. I much prefer bitcoin to be that asset.
I get what you are saying. Makes sense.
It sucks that the market only thinks to be pegged about Bitcoin.
Yup. It’s unfortunate and so reactionary to any news or FUD.
Yes, it was a real blood bath yesterday for all crypto. My portfolio was down like 19 percent, everybody lost yesterday, lets hope we have a better day today
The crypto market this year suck, flat and boring but the development is advancing.
The secret is hodl, as I ve said the decline in value is just book value... as long as you don´t sell your coins, you won´t have losses.. The hodl will be the right move and later you`ll have all your blessings based on the virtue of learning to wait!
Hodl is a philosophy like other, in a bear market is not always the best approach.
The drop was so drastic just overnight and crashed. It is amazing how a sudden drastic move between people could ended up the going down plunge.
The cause is the civil war from Btrash.
and it does not have paragliding
Bitcoin is thrown from the neighborhood, prices are slowly decreasing
What do you mean exactly?