I'm ashamed. Embarrassed. I don't want to tell people I dabbled in crypto. The main reason is the weakness and lack of faith within the crypto community itself. It hamstrings itself at every opportunity; shorts constantly, can't sustain bullish activity for more than 5 contiguous minutes. What are you doing?? Collecting 1% and day trading. Recent studies show that the amount of crypto press multiplies in times of negative activity , and despite claims of market manipulation, the far greater threat are your weak , trembling hands that hit the sell button every time you see green. Pathetic. If crypto fails it is because it failed s a cooperative community. The worlds premier financial services disavowed. Of course this is a threat to government , and they may play a role , but it is small; crypto is still of and by the people involved. Failure to maintain BTC above 4k when an ASIAN session set it up to get there is also pathetic. They (those involved in mining) have had to sell machines for scrap but have more confidence in an overall positive outcome than the trembling westerner. Your kids still want crypto for Christmas. Kids tend to be pretty smart , being not far removed from education, at this point taught coding in school, and may have greater insight than the fools destroying the concept of something anti-globalization. What is especially galling is that the weakest hands are the ones otherwise subject to a fractional reserve banking system in countries like the U.S. for example, that are trillions of dollars in debt. There is a day coming worse than '08. And when it does the government will bail out banks again , because the banks are so greedy they lend out money that doesn't rightly belong to them , and when the machine breaks the Federal reserve PRINTS MONEY. WAKE UP AND DO SOmETHING!!!!! RAISE THE BAR FOR ONCE. No, 2017 is unlikely to repeat in that it will not be a parabolic rise in just a few months, but rather a slower yet permanent rise if you would simply allow it to happen. By you I mean EVERYONE involved in finances at all who can see their reflection in the mirror. If this was a team , you went undefeated in '17 only to lose every game in '18. I'm the guy yelling in the locker room , because I cannot and do not understand such behavior and do not want to. This IS a community , and while everyone wants to make money , it is painfully obvious that the self inflicted wounds just keep on coming. YOU just failed to break a 4k barrier for BTC - forget metrics that is ALL psychology , and it happened because you short sold and ran. Enjoy your short term capital gains tax. Finally, why in the f%$% does every other major coin have to be directed by Bitcoin? Are people just too stupid to understand the differences in fundamentals and use cases?? One ring to rule them all, and it's that one?? Equally pathetic. Tax headlines scare you off?? You suck. Bad press? You suck. Do some research . The bad press is a ploy by big money to get YOU to sell, you , the guy who gets hurt , so that the absurdly wealthy can buy in cheaper. Fortis Fortuna Adiuvat. ** I am not a financial advisor and the above should be construed as a rant.**
BTC has no utility: Transaction speeds are slow, fees are high, mining is terrible for the enviroment, miners control most of the bitcoin = centralization. It's overpriced even at $3000 USD. Unfortunately the alts are drug along with it for now, that means there are a couple crypto's that are severely underpriced. Load up on those and hold them until their use case is realized. Which may not be for a couple years . If you can't afford to tie up your money for that long or even lose it for that matter, than maybe you shouldn't invest it. Nobody is getting rich overnight, if it were that easy everyone would do it. Sounds to me like you lost a lot of money, you didn't do your own research, and you're the weak hand
Cryptocautious
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@Altcoin_J, I have taken losses. If my initial foray were my only foray , you would be right on the mark , but it was not. I made mistakes initially, hell even bought from coinbase at relative high's.
That is not to say that I didn't learn from my mistakes (the first of which was believing I was smart enough to outsmart the market), undergo said research , found cause for long term belief in coins that don't require half of my city's electric grid to mine. I have written articles specifically about mining , declining returns thereof , the slow speed of BTC , etc. I respect your point of view , but take exception to the pejorative comment. I do also understand what centralization means , and have undertaken studies in current banking systems (i.e. U.S. fractional reserve.) Best of fortune to you.
FranciscoLisboa
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@ChrisGettling
"and despite claims of market manipulation, the far greater threat are your weak , trembling hands that hit the sell button every time you see green. "
No. It's not our hands that tremble.
No matter how much thousands dolares we invest, no matter how right is our TA or research we may do, no matter if the coin is usefull, decentralized, mined or not, the fact is that we cannot fight that army of many hundreds of millions which trade all coins, in all Exchanges around the world almost SIMULTANEOUSLY. Those millions are the ones that makes the prices going up or down.
We just can not win. We are small fish in a large aquarium where big sharks rule. What we can do is just hide behind an obscure rock in the bottom of our aquarium and expect the sharks to find one of our disoriented schoals and while they are eating many of us, the survivors can collect some leftovers falling from their large and greedy mouths.