WTF is now wrong, all cryptos down?
- Thread starter jorge
- Start date
I asked the same already in this or another thread, so why not again... would you be so kind and share the reasoning behind this highly probable scenario, what exactly should happen to make this outcome possible?
the bitcoin standard by ammous.
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861
if this would be the case, why︃ did it not happen in 16 years and counting? Lindy effect at play here as︄ S curve model of adoption.
Also liquidity is becoming more fragmented outside bitcoin. So less︅ likely for anything new to succeed.
We have by now a gazillion of these new︆ shiny fast super hyper tangle hyperloop unlimited transaction staking blockchain projects. None of it delivers︇ anything significant.
We are left with stablecoins (and generating yield from them, aka lending/borrowing), gambling︈ and Bitcoin.
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861
if this would be the case, why︃ did it not happen in 16 years and counting? Lindy effect at play here as︄ S curve model of adoption.
Also liquidity is becoming more fragmented outside bitcoin. So less︅ likely for anything new to succeed.
We have by now a gazillion of these new︆ shiny fast super hyper tangle hyperloop unlimited transaction staking blockchain projects. None of it delivers︇ anything significant.
We are left with stablecoins (and generating yield from them, aka lending/borrowing), gambling︈ and Bitcoin.
Can you name a few of these superior tech projects your implying here?
new shiny tech is moot as its not a predictor of successful adoption by any means.
Theres countless example in adoption history︀ having inferior tech winning.
A truly decentralized currency can only be invented once, and it︁ has been done in the form of bitcoin.
No other project can ever replicate this︂ decentralized organic slow growth ever, no matter what is being claimed. It would be instantly︃ killed, coopted etc.
Its like with the wheel, it can only be invented one time︄ only.
Next future form of money might be coming way later down the road maybe︅ 100s of years after our time, when humans are an interplanetary species etc.
new shiny tech is moot as its not a predictor of successful adoption by any means.
Theres countless example in adoption history︀ having inferior tech winning.
A truly decentralized currency can only be invented once, and it︁ has been done in the form of bitcoin.
No other project can ever replicate this︂ decentralized organic slow growth ever, no matter what is being claimed. It would be instantly︃ killed, coopted etc.
Its like with the wheel, it can only be invented one time︄ only.
Next future form of money might be coming way later down the road maybe︅ 100s of years after our time, when humans are an interplanetary species etc.
I second this. Great book. Also "Broken Money", by Lyn Alden is a worthwhile read too.
Bingo. This is a great example of "second-system syndrome" (https://en.wikipedia.org/wiki/Second-system_effect).
Bingo. This is a great example of "second-system syndrome" (https://en.wikipedia.org/wiki/Second-system_effect).
So we are entering into a debt crisis.
As you can see Trump already is implementing import tax and starts battling economicly with everyone.
In a debt crisis at the beginning USD gets very strong for a short period of time since nearly noone is able to take new debt and existing marging needs to be delivered expacially in a higher inflation scenario︀ where interest goes higher instead of down.First divergance in history of USD already happened that︁ FED cut interest rates by 100 points and the 10 year went up by 100︂ points meaning they are already predicting high rising interrest rates.
The date end of march︃ comes from a fibonacci ciricle chart which delivers timeframes.
End of march is the latest︄ date of a specific fibonacci circle which ALWAYS causes a heavy drop based on past︅ history.
Of course if its going to be caused by debt crisis or a new︆ war in middle east thats something i can't predict however i can tell there are︇ bigger movements ahead and the debt crisis is more and more obvious but does not︈ need to be the offical trigger to start the sell off.
Also billionaires would not︉ hold so much USD cash in a high inflationary envirement when not beliving that there︊ will be a big shortage of liquidity where cash will be king.
As you can see Trump already is implementing import tax and starts battling economicly with everyone.
In a debt crisis at the beginning USD gets very strong for a short period of time since nearly noone is able to take new debt and existing marging needs to be delivered expacially in a higher inflation scenario︀ where interest goes higher instead of down.First divergance in history of USD already happened that︁ FED cut interest rates by 100 points and the 10 year went up by 100︂ points meaning they are already predicting high rising interrest rates.
The date end of march︃ comes from a fibonacci ciricle chart which delivers timeframes.
End of march is the latest︄ date of a specific fibonacci circle which ALWAYS causes a heavy drop based on past︅ history.
Of course if its going to be caused by debt crisis or a new︆ war in middle east thats something i can't predict however i can tell there are︇ bigger movements ahead and the debt crisis is more and more obvious but does not︈ need to be the offical trigger to start the sell off.
Also billionaires would not︉ hold so much USD cash in a high inflationary envirement when not beliving that there︊ will be a big shortage of liquidity where cash will be king.
no you have BRICS implementing a virtual currency backed by︀ gold and western countries implementing virtual money backed by nothing including BTC.
Guess who will︁ win the battle ?People don't understand what it means for western countries having to pay︂ the surplus of export from BRICS via physical gold.
Guess who will︁ win the battle ?People don't understand what it means for western countries having to pay︂ the surplus of export from BRICS via physical gold.
T
thomasparra
Guest
According to official data, US alone holds almost 2x more gold than China and Russia combined. The West (or Europe alone) as a bloc holds way more gold reserves than Russia and China.
I am sure China and Russia have much more reserves than disclosed, besides it does not not account for individual gold ownership and we know that Asians are heavy gold holders but at the end of the day I highly doubt that the the balance is in the favor of the BRICS.
According to official data, US alone holds almost 2x more gold than China and Russia combined. The West (or Europe alone) as a bloc holds way more gold reserves than Russia and China.
I am sure China and Russia have much more reserves than disclosed, besides it does not not account︀ for individual gold ownership and we know that Asians are heavy gold holders but at︁ the end of the day I highly doubt that the the balance is in the︂ favor of the BRICS.
I am sure China and Russia have much more reserves than disclosed, besides it does not not account︀ for individual gold ownership and we know that Asians are heavy gold holders but at︁ the end of the day I highly doubt that the the balance is in the︂ favor of the BRICS.
Lots of them, not a few. Ethereum,︂ Cardano, Solana, Cosmos, Monero. In fact, many shitcoins are technologically better than BTC.
Adoption is︃ not a solid premise to call BTC a hard currency or digital gold, because a︄ new angle or gimmick can make people drop BTC and adopt the next shiny thing.︅
Say Amazon starts accepting cryptocurrencies for payment. But they only accept Solana. Well a lot︆ of Amazon buyers will then get Solana for the first time, the speculators would watch︇ SOL moon and they'll jump on the new bandwagon. So that's one possible scenario where︈ BTC is usurped. But it can happen in all sorts of ways.
Unlike gold, which︉ is a natural resource found across the universe for 7 billion years*, not a piece︊ of code written by a human that will be old fashioned like the radio in︋ no time. BTC code already looks old and it's only been a dozen years or︌ so. Technology is a bad platform to use as a store of value. And a︍ store of value is not what BTC was designed to be.
Yes a truly decentralized︎ currency can only be invented once, but that doesn't mean the BTC as the first️ can't be usurped. Social media can only be invented once, but where is MySpace now? Even Facebook looks vulnerable to getting surpassed by competitors these days.
*Even gold looks precarious, lab grown diamonds have caused the price of diamonds to drop in value, and there is talk of lab-grown gold coming. Something to watch out for.
Adoption is︃ not a solid premise to call BTC a hard currency or digital gold, because a︄ new angle or gimmick can make people drop BTC and adopt the next shiny thing.︅
Say Amazon starts accepting cryptocurrencies for payment. But they only accept Solana. Well a lot︆ of Amazon buyers will then get Solana for the first time, the speculators would watch︇ SOL moon and they'll jump on the new bandwagon. So that's one possible scenario where︈ BTC is usurped. But it can happen in all sorts of ways.
Unlike gold, which︉ is a natural resource found across the universe for 7 billion years*, not a piece︊ of code written by a human that will be old fashioned like the radio in︋ no time. BTC code already looks old and it's only been a dozen years or︌ so. Technology is a bad platform to use as a store of value. And a︍ store of value is not what BTC was designed to be.
Yes a truly decentralized︎ currency can only be invented once, but that doesn't mean the BTC as the first️ can't be usurped. Social media can only be invented once, but where is MySpace now? Even Facebook looks vulnerable to getting surpassed by competitors these days.
*Even gold looks precarious, lab grown diamonds have caused the price of diamonds to drop in value, and there is talk of lab-grown gold coming. Something to watch out for.
the market doesnt agree so far and most likely wont in the future.
You claim "technologically better" but in what areas? ex monero, all are in search of a problem and have a bad product market fit. Monero has a use case but its use case being integrated into bitcoin (lightning, fedi, cashu) etc etc.
again circling back to the layer thing akin the internet layer.
No, its as strong as ever. The︂ lindy effect confirms it to stay.
they accept all kind of shitcoin (local︇ fiat currency by cards).
But theyd be braindead to accept a non-working chain like solana.︈
its not in a digital (prison) world, in which we are︎ moving into.
These are products. Bitcoin is the base layer of money and more akin to smtp, https and such.
diamonds are a bad thing anyway, its not good money at all it has serious︀ shortcomings being fungible, recognizable. Debeers might disagree. 😉 They should point on durability tho, also they︁ are not rare so much either.
You claim "technologically better" but in what areas? ex monero, all are in search of a problem and have a bad product market fit. Monero has a use case but its use case being integrated into bitcoin (lightning, fedi, cashu) etc etc.
again circling back to the layer thing akin the internet layer.
No, its as strong as ever. The︂ lindy effect confirms it to stay.
they accept all kind of shitcoin (local︇ fiat currency by cards).
But theyd be braindead to accept a non-working chain like solana.︈
its not in a digital (prison) world, in which we are︎ moving into.
These are products. Bitcoin is the base layer of money and more akin to smtp, https and such.
diamonds are a bad thing anyway, its not good money at all it has serious︀ shortcomings being fungible, recognizable. Debeers might disagree. 😉 They should point on durability tho, also they︁ are not rare so much either.
we cant know if thats true at all. Theres no way to︀ verify this.
So id say they are just bluffin.
Another use case where bitcoin shines.︁ Its very easy for everyone to see and verify holdings. (an underappreciated use case as︂ of today).
So id say they are just bluffin.
Another use case where bitcoin shines.︁ Its very easy for everyone to see and verify holdings. (an underappreciated use case as︂ of today).