A Quick Monday Morning Reminder: Every Time Someone SELLS in Despair... There's a BUYER!
As everyone churns around in "we're-all-gonna-die!" despair over the state of Bitcoin, Steem and the cryptosphere... I just wanted to throw this quick Monday morning reminder out there:
There is almost always two sides to every story.
What we're experiencing here is no exception.
Time for New Beginnings
So please do keep in mind that for every person who decides to bail out of their Steem, Bitcoin or whatever they might be holding... there's a BUYER taking on those coins.
At this point, that buyer is usually a long-term value investor who's scooping up bargains at so-called "firesale prices."
Whereas these "value investors" might be doing their best to *"time the bottom" of the market, most of them probably realize that buying Steem at 23 cents, or Bitcoin at $3,200 still might have some downside risk, so they are unlikely to be looking to "bail out" in the short term.
Which also means that every time one of these "value investors" snap a 10,000 Steem "lot" on one of the exchanges, a little bit more "downside pressure" comes out of the market.
That doesn't have anything to do with the "value" of any given cryptocurrency, that is simply the "physics" of market dynamics.
But Couldn't it All Go To ZERO?
I've occasionally seen that idea floated about... that the entire crypto industry will just decline into obscurity and be forgotten at "value = zero."
Of course, that idea is usually purveyed by those who stand to lose the most from the success of blockchain technology and cryptocurrency. It's a bit like carriage makers spreading the idea that automobiles would "never become a serious thing." Or the Post Office stating that "people will never use email on any scale."
That said, if this were 2015, I might actually see that as a possibility on the table for discussion.
But this is almost 2019, and by this time there are so many resources and so many people and so much investment in this gig that we have moved beyond the point where it is just going to go away.
Doesn't mean there won't be a tough road ahead... but "go to zero?" That option has moved into the realm of just about impossible.
Well, that's all for now! I'm back to my morning coffee, and I invite you to have an awesome week!
(And no, I am not an "investment expert" and this is not "investment advice!" I am just sharing some bits and pieces I observe as COMMON SENSE.)
Comments, feedback and interactions are invited and always welcome! Because social sites RUN on the social aspects!
Towards new horizons...
(As usual, all text and images by the author, unless otherwise credited. This is original content, created expressly for Steemit)
Created at 18117 09:00 PST
On the other hand, every unbacked fiat currency absolutely will go to zero. As close to mathematical certainty as death and taxes :-)
The eternal cycle of birth, life, decay, death... I don't see the world going 100% crypto, though, at least not for a very long time. But I can see the return of a limited gold-silver-bronze-copper coin/token system.
A dystopian future where a tiny chip implant, with all your medical, work, school, and bank records, is required of every person wanting to join the world socialist system offered to replace the collapsing national fiat currencies - it's so close I can smell it. Each month your basic income stipend is renewed and you spend it simply by swiping your implant past a reader. Unless, of course, your social credit score is too low because of anti-social activity, thoughts or deeds (in which case your chip is switched off by the central computer). Then you can no longer purchase anything or enter any building or transport.
That is why I hope some decentralized crypto survives and thrives. I don't want to live in a (human) zoo,
I guess we are being subtly "prepped" for that dystopian future through the entertainment industry, with all those rather bleak future sci-fi series and movies where people live in complete "safety" but everything is monotone and colorless.
Thousands of people in Sweden are embedding microchips under their skin to replace ID cards
https://www.businessinsider.com/swedish-people-embed-microchips-under-skin-to-replace-id-cards-2018-5
China has started ranking citizens with a creepy 'social credit' system
The program is due to be fully operational nationwide by 2020, but is being piloted for millions of people across the country already. The scheme will be mandatory.
https://www.businessinsider.com/china-social-credit-system-punishments-and-rewards-explained-2018-4
Yup @onceuponatime, the smell is closer than you may think. It's so close that it actually stinks. };)
It may not go to zero, but will it ever go back to the highs of this time last year, that's what I keep asking
I think very likely it will.
And just like the post-2002 tech stock recovery, I believe it could be 6-8 years before we see those levels again... we may be in for a very long slow gradual 20-25% a year increase.
BTC hit $1200, and crashed to around $200. It took a couple years, and now it has spiked to $20,000 and then plummeted... to $3000-ish. I see more upside than downside here in the long term.
I am hanging around, there's no where else to go :)
Indeed, not a lot of alternatives... and I'm not particularly hot to trot to go back to Facebook.
I still check on Facebook as apart of a few groups to do with my diet. Its all its good for.
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I don't think the sky is falling and I don't think crypto is going down to zero, but dang, I wish I had some "expendable" cash because I'd be scooping up Steem, BTC, and others at these prices - then HODL.
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