You are the 1%
Before I say what I want to say in this post, I want to make it clear that this is not directed at Steem only but for the whole cryptocurrency market in general and especially the currencies with the biggest market cap at this moment.
People are going to tell you what you are holding right now is useless, they won't understand it, they won't want to know more about it cause these people have already made up their minds. They've listened to media which selectively announces the bad activity and how much these currencies have lost value more than what this innovation has accomplished so far. Not many are going to tell you the truth, even worse they will lie to you on purpose because they've made up their mind instead that this is going to go up so much the majority of people unaware will never be able to comprehend. Many understand that this is the re-invented internet on steroids, anyone anywhere in the part of the world can get a piece of this if they had made enough research and gone through the effort of either earning some crypto or buying it through the very low amount of exchanges in existence at this time allowing it. I say low because if you compare it to how easily you can buy Paypal credits or League of Legends ingame currency or Spotify credits, we are not yet at that level. This also depends on countries and parts of the world of course, but even those that went through the effort of buying coins and I am sure the majority may have gotten in at the last hype train - they have probably not held for long and recouped their losses considering the brutal markets.
Why are these markets so brutal? With finite amount of coins to ever exist people can not just endlessly buy it, they have to figure out other methods of acquiring these from people who bought them back when these new and powerful people either didn't understand or didn't care enough to look into it deeper. Manipulation. Who's the best at manipulating markets? The times of crypto whales doing it are coming to an end as the old masters are entering the markets, those who have been manipulating for years and only being slapped on the wrist for it.
I recommend you watch this video I stumbled on today, it should give you an idea of what is going on in the markets today.
I often ask myself, in 10 years or 20 years, what are the things that I would wish I had done.
The last time I made large investments was in 2008 during the financial crash. The FTSE was plummeting and everyone was saying how the whole financial system would collapse. I kept buying as it went lower and lower.
So when it comes to crypto, I get the same feeling, the same crowd mentality where people are now starting to question their choices and some are pulling out their money to wait it out.
Even the big crypto holders are starting to look worried, we have top projects running out of funds.
These are interesting times, when you look back in 10 or 20 years, what would you wish you had done?
PS. here's the FTSE100 charts
I believe in the future of the technology given the potential it has to disrupt many industries and to provide access to many around the world. Things are getting better but just like in the normal course of business, many will fail.
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Manipulation at its finest. But there is one more thing, people are afraid of new technology.
The video of that is even better because of the way the woman gasps and is startled by the technology sign :D
lol, what a great gif hahaha
Lol. Funny gif
I wonder why people don't even want to take the time to at least understand new things before forming an opinion
hahaha you made me laugh so bad buddy :)
Well, these are the type of people who would say unpretensiously..."hey we´ve got to dump our holdings before it´s too late and before the value goes shitty! " and then when the market has the massive dumping that´s the time the buy back....
At this bear market, anyone who believes strongly on his portfolio would take the risk of hodling all.... because the value right now may be sinking, but everyone should have the mindset that these values are book values only for as long as one does not go panic selling, he wouldn´t realize losses... I would go long-term and wait for the market to recover...
One should not forget, the crypto whales are watching every move of the market...the more shaky, the more they anticipate massive pumping ... and surely they will take their chance.
The whales that buy cheap on OTC and dump on major exchanges all while taking on short positions on Bitmex just need to get burned BADLY a few times and the downtrend will stop.
"Rather than listening to what people are saying, look to what they are doing..." (min 4:07)
This to me says it all, but general public don´t have the means and don't even care to see things that are in front of their eyes.
What do we got to do to get you to make some dtube videos Acid? I don't get to watch your stream anymore cause dlive is a douche, so I don't get my Acidyo show anymore...
I haven't had access to my desktop PC in some time that's why there's been way less streaming or making videos. I'm super busy nowadays since there is so much going on with projects and new dapps on the network but hopefully will have some more time to get back to that soon. Thanks for asking!
You'd think things would be pretty dead around here considering the prices but people are more busy than ever. :D
Haha, that is because we dont care about price we care about blockchange. Well, keep working hard, I'll keep an eye out.
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I've tried to explain this to a couple of guys for a while now. I've seen this trend and understand how it works. People with big money don't want to buy in at the top, so they have to drag it down before putting their funds to it.
When you look at market trends over the long term, and the moves financial systems are putting in place to be able to trade crypto, all I see is potential. I haven’t paid attention to mainstream media in years, though, so I guess my perspective is less influenced by FUD in general. I like it that way.
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I don't know if it is true or not, but I will not believe what people days. I will just believe their a tions, and I think thats cryptocurrency es are here to stay.
I have followed you recently because I think that you are one of the biggest assets of the steem community.
I did watch the video.
And you know the news is always the news but one thing is important just look at what they are doing.
We go crazy and sell and they buy it.
Less bitcoin for us and price will go crazy.
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