People are asking me how low crypto will go. The pain is very real and at the end of the day as with any market the coins are only worth what someone is willing to pay for them or what you are willing to pay for them. 95% of crypto is speculation. Despite having utility even the coins that would seem to be poised the best haven't done well in this market. Steem for instance has dropped over 96% of its value when back when it had 100% inflation it lost 98%. You would have thought it would have been more insulated than that.
Another interesting fact is that at the beginning of 2017 Litecoin was worth $4. Does it work any better now? Actually...... Yeah.... they got the fees down on it. It also got added to Coinbase and Gemini since then as well. How low will it go? I'm not sure. I will let you know how low it goes in 6 months.
This will strengthen your resolve: https://www.newsbtc.com/2018/11/23/the-crypto-bubble-hasnt-burst-it-hasnt-even-begun-yet/
For sure we'll go up again. When? No idea, no-one does! But if you can buy in, play a five year plan and only take small profits now and again, i'm pretty sure your future self will be offering high fives and hugs to your past self!
It will be a brutal path for sure.
I think we we were all aboard the hype train after the last run and everyone was hoping for a repeat! I don’t think the crypto market needed that much value to begin with for the projects we have to run and show value, like you said it was mostly speculative value! But now that projects don’t have these crazy values they need to put up or close up shop
Posted using Partiko iOS
The sad thing is 95% of the ICOs were just scams. It was sad for me to see people putting money into nothing more than crappy ideas and a poorly written white paper. Most of them have likely liquidated at this point and there isn't a lot left to sell hopefully.
I don't think 95% of the ICOs were just scams (considering the amount invested, not the amount of projects). Many of them were just too ambitious and not feasible on the Ethereum blockchain (currently). Say Golem Project or SingularDTV, two of the projects I was enthusiastic about.
Though maybe not a great investment, Bancor showed to bring some interesting innovation. Still one of the bigger ICOs raising lots of money.
Well the whole time when those companies were raising that much money saying they were building on the Ethereum blockchain I was labeling them as scams because how does someone like me know that it wasn't going to be capable of what they were saying and I don't have people giving me millions of dollars to figure that out. It was silly
Any interesting projects you got to know being at the EOS hackathon?
There is certainly still some upswing to be seen in smaller projects being built on EOS, even in a bear market...
There wasn't anything that impressed me a ton that was submitted in the hackathon. The buzz outside of the actual hackathon competition was related to games build on EOS. I'm working on a game as well.
Any tip on the game you are working on? :)
Mainly just a multi player game that is a game of skill. I won't touch anything that would be considered a game of chance to avoid the gambling label and it is multi player because if people went against bots they could say things were rigged ....etc.
When you have any invitation link ready, do send it so I can test it! Curious...
Hopefully I will be getting it done soon and I can bring in some BETA testers when it is on the testnet.
Hope it will come up like never before
Posted using Partiko Android
BTC price isn't purely speculation... Same goes for Steem.
BETA Feature
Congratulations brianphobos, you brought 1 referral(s) using the @share2steem referral program !
You reached LVL 1 and earned 0.025 SBD !
Move to LVL 2 by bringing 5 referrals on @share2steem !
!tipuvote 0.025
Check the achievements list on https://share2steem.com !
This message is generated automatically.
BETA Feature
Congratulations brianphobos, you made your first post using Share2Steem !
You reached LVL 1 and earned 0.025 SBD !
Move to LVL 2 by making 3 posts in 3 days !
!tipuvote 0.025
Check the achievements list on https://share2steem.com !
This message is generated automatically.
This post is supported by $0.03 @tipU upvote funded by @share2steem :)
@tipU voting service guide | For investors.