This thread's audience is obviously a 'developed nations' one. From our perspective yes, Crytpo's use case as currency make absolutely no sense (yet), we tap our Visa card to pay instantly with no fees and no fraud liability, hard to beat. As a store of value however there is a very strong use case in the western world. Of the top my head, it is estimated that 10% of our GDP is in off shore havens, think about that i…
No fees? Visa and MasterCard are making off like bandits as we move from cash to card.
haha, depends on the card you agree to sign off to :)
A lot of emotion with LTC. People are downloading Coinbase and buying LTC simply because it is the cheapest on Coinbase. This is definitely a bubble, really cant deny that anymore. All emotional, non-rational behavior.
Sorry to break it to you, this is not "new" money pouring in. This is a very well orchestrated and calibrated pump.
I'd be curious to see any sort of proof (or, for lack of direct proof, something pointing the finger in this direction) in this.
This thread's audience is obviously a 'developed nations' one. From our perspective yes, Crytpo's use case as currency make absolutely no sense (yet), we tap our Visa card to pay instantly with no fees and no fraud liability, hard to beat. As a store of value however there is a very strong use case in the western world. Of the top my head, it is estimated that 10% of our GDP is in off shore havens, think about that i…
Africa is actually more sophisticated than the US in many ways regarding fintech
Anyway, this is a straw man. Who is saying cryptos are useless? People are saying that they are a bubble, that the valuations are irrational.
Can someone familiar explain why cryptocurrencies aren't a bubble? They both seem to exhibit similar characteristics. Clearly, are shown by the site here, these aren't nearly as liquid as fiat currencies, nor are they really used to purchase anything. So... What is it? EDIT: upon thinking about it, MLM wasn't the term I meant.
It is definitely a speculative bubble. I think we are in a similar position as 1998. The technologists can see that [the Internet]/[cryptocurrencies] are very interesting technologies, with the potential to change the world. But retail investors are pouring in, without any understanding of the tech, and inflating both good and bad [companies]/[coins] in a pure speculative frenzy. If I had to bet, there is still lots…
I read somewhere that people are leveraging huge sums of money on crypto which may explain how it is going up by so much and so fast. If for whatever reason we start to see even a small downward trend then these people will be forced to sell their position and the whole thing will come tumbling down.
I locked in gains with LTC a few weeks ago like a rube thinking there was going to be a correction :( Locked in some good gains but missed on 70 thou plus USD....sigh...gotta keep trying though right?
That isn't the way to look at it. Suppose LTC breaks $1000, or even $500. I'll have "missed out" on a lot. But I locked in gains, so I'm net ahead. Timing gambling like this is a fool's errand, in my view.
100 pc agree, it's hard not to fall into the FOMO trap.
It is definitely a speculative bubble. I think we are in a similar position as 1998. The technologists can see that [the Internet]/[cryptocurrencies] are very interesting technologies, with the potential to change the world. But retail investors are pouring in, without any understanding of the tech, and inflating both good and bad [companies]/[coins] in a pure speculative frenzy. If I had to bet, there is still lots…
I think the big question here is what the crash will settle at for the big 3: BTC/ETH/LTC. Thoughts?
A lot of emotion with LTC. People are downloading Coinbase and buying LTC simply because it is the cheapest on Coinbase. This is definitely a bubble, really cant deny that anymore. All emotional, non-rational behavior.
Is this the reason why? I've been scratching my head all day as to why LTC would pop today beyond the fact that the BTC rally cooled and people saw LTC as cheaper and thought "hey, thats cheap, let pump it!".
Until a week or two ago the correlation between LTC and BTC was very loose, but it seems that now that BTC is cooling off other coins are warming up... But LTC has been doing pretty good for a year, so who knows... Definitely seems that people are buying more LTC because is cheaper. Maybe in the hopes that one day is going to be as valuable as BTC (of course that's not happening).
This thread's audience is obviously a 'developed nations' one. From our perspective yes, Crytpo's use case as currency make absolutely no sense (yet), we tap our Visa card to pay instantly with no fees and no fraud liability, hard to beat. As a store of value however there is a very strong use case in the western world. Of the top my head, it is estimated that 10% of our GDP is in off shore havens, think about that i…
Africa is actually more sophisticated than the US in many ways regarding fintech Anyway, this is a straw man. Who is saying cryptos are useless? People are saying that they are a bubble, that the valuations are irrational.
Totally Kenya's mobile payment system evolution from SMSing minute refill codes, to an actual legally recognized form of payment is the original Blockchain in my mind :)
But that is exactly my point, in that market , there is demand and need for innovation that means crypto (while inflated right now) is here to stay.
People who call Bitcoin a 'Ponzi scheme' , type of plant or apply whatever reduction on a very complex and innovative product are just mind boggling to me.