After the Bust, Are Bitcoins More Like Tulip Mania or the ...
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Dash Competitive Basket Index for Monday, 28 October, 2019. Better. And let's take a step back and look at real world use.
Better than yesterday (again), but still nothing to write home about. We’re still in the top 20, so that’s something. Since Thursday, Dash gained 17.9% in dollar value. That certainly helps the buying power of the monthly Treasury. Everybody gained dollar value except the stable coins. All three of the moving average numbers went up again. But let’s look for just a moment at real world use. Let’s be totally honest here, sooner or later, real world use of the actual crypto products HAS TO MATTER. Otherwise, crypto really is just another tulip mania like Jamie Dimon says it is. Jamie Dimon is wrong. Fundamentally, foundationally, bedrock level wrong. Somebody is going to become wildly successful at offering the unbanked and underbanked access to honest, simple, person to person digital cash. Duh….that’s Dash. So let’s look at real world use numbers. When Dash got started in early 2014, LiteCoin had 8-10x the number of transactions that Dash had. Ever since then, Dash has been gaining on LiteCoin. Look at the transaction numbers on the chart below. We regularly beat LiteCoin. Why are we not crushing LiteCoin? In terms of features, governance, innovation, community support and number of transactions, we ARE crushing LiteCoin. For the previous 7 day time frame:
Dash outperformed 7 of the 18 coins ranked above us (39%). The 30 day SMA* is 31.2%.
Dash outperformed 5 of the 10 coins ranked below us (50%). The 30 day SMA* is 33.3%.
In total, Dash outperformed 12 of the top 28 coins (43%). The 30 day SMA* is 32.0%.
Bitcoin dominance dropped 6/10’s after yesterday’s enormous gain. (67.1%).
5 of the top 28 coins beat Bitcoin (17.9%).
25 of the top 28 cryptos were in the green (92.6%).
Reminder: Cost Averaging In Makes Volatility Meaningless - It's Not "Buy the Dip", that's for Speculators
So the top post on /btc now is "Buy the Dip" with some sad comments about losing money amid this down market. People let's not forget cryptocurrency is NOT I repeat NOT a stock. It's not meant for speculation. If you're just here because you have a free Lambo dream I beg of you to leave now, go to the stock market; come back when we've made a bigger dent in the world and you need crypto to buy something you want. Now you're just encouraging a market of wild swings which only day-traders love, while frightening everyone else away. Crypto won't win because it's attractive to day-traders. It also won't win betting on FOMOs treating it like the next Tulip mania. Crypto as a currency will win because it's honest and transparent. The rules can't change from underneath you. If they change at all you'll be very aware and have plenty of time to make adjustments. It won't be a few men in a meeting that suddenly decide to increase the money supply. When you cost average in you don't make a lot as much but you don't lose a lot either. That's key. Say you have a goal to buy $1,500 of cryptocurrency per year. Instead of trying to be the Wolf of Crypto Street and pick your favorite coin and alts to double/triple your money or whatever just buy a set amount every day. So that would be about $4 per day. There will be up days and down days, but over the entire year volatility wouldn't mean you panic when the market goes down and be pressured to sell. If cryptocurrency goes up overall year after year (we know it should because it can't be arbitrarily printed), then you will ultimately come out UP. Remember Bitcoin was about $1,100 in March 2017. It was $400 in March 2016. So we're almost 7x up from a year ago and 18x up from 2 years ago, amid the sob stories. (I'm using Bitcoin (BTC) because the market follows it for now) I implore everyone, please, do your buying more in line with this strategy. The more of the market that does the more the volatility will smooth out. Right now it's just a game of who can get lucky, read charts, and/or control their greed/fear emotions in a swinging market of volatility, scaring many away while naysayers correctly say currencies shouldn't be that volatile. The volatility will go down naturally as the entire space gets larger, but we can either stay in choppy waters slowing adoption until we get there or steady the ship much sooner and really win, not with speculation, but by actually competing with fiat.
01-28 18:43 - 'I'm gonna post this in every r/news thread because it seems people here don't understand the most basic facts about "cryptocurrencies". / Cryptocurrencies are not always meant to function like traditional currencies. They're ca...' by /u/Acrimony01 removed from /r/news within 35-45min
''' I'm gonna post this in every /news thread because it seems people here don't understand the most basic facts about "cryptocurrencies". Cryptocurrencies are not always meant to function like traditional currencies. They're called currencies because they're tradeable.
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets
All that means is they're digital assets that can be traded from one party to another without the need of a middleman. It doesn't mean they are a currency meant to buy lattes and pay your friends. Some of the most interesting cryptos are ones that people will not even realize they are using. There are many classes of coins/tokens. Which can do a lot of different things. An absurd amount of things.
Traditional Coins: Bitcoin, Litecoin
DAG Coins: IOTA, Raiblocks
Supply Chain Coins: VeChain, Waltonchain, Modum
Privacy Coins: Monero, Dash, ZCash
Edit: Anyone who's researched the most basic facts of crypto knows that bitcoin is not private. You all are reading news from the early 2010's at this point.
There are dozens more categories. Including things like [Credit]1 , [Debt]2 , and [Shit that's so complicated I can't even explain it]3 . The key is that they are easily tradable from you to me. I can send anyone on this board crypto right now. As long I know where to send it. That crypto goes way beyond cash and currency. Some of them could represent anything. From dividend payments to debt. Say Apple decided to come out with a coin called APPLE. That APPLE coin would distribute you profits based on how much you hold (Like a dividend). Then you could trade APPLE for GE. Without a broker. What if you could buy a house without a title company? Or send money to your family in a foreign country with no fees? There are millions of problems that crypto can help solve. Some of them don't require a token and just need a blockchain. Some of them CAN use a token, and that coin/token can have tremendous value. That's what cryptocurrencies are. They're not stocks, real estate, bonds, or commodities. They're a whole new thing. They have different parameters. They act different. They have different markets. The reason Bitcoin(BTC) and Ethereum (ETH) are so dominant is because they are the de facto trading commodity in the crypto space. Everything is CoinX/BTC or Coinx/ETH. You need these coins to get in the game. [Bitcoin is dying.]4 It's having trouble scaling and facing internal (the bcash war) and external (governments, whales) pressure. It's continued to lose market share to ETH and several new up and comers that can do even more. Crypto is rapidly changing. People are moving away from power intensive Proof of Work protocols to Proof of Stake variations. We now have DAGs entering the fray, which have hypothetical feeless and instant transactions that could potentially power a whole new ecosystem of payments and devices. The world of crypto is exciting and interesting. It's volitile and dangerous. But it's not a ponzi scheme. It's not a scam. There is real money being made. Real companies are embracing it. Real interesting ideas are being constructed and executed. You have basically two choices. You can get interested and learn, or you can pretend it's not real and ignore it. The latter group has been proven repeatedly wrong. Those mistakes could possibly be fatal for certain businesses. As for the "bubble" talk. Crypto bubbles pop all the time. Bitconnect (an infamous scam) was annihilated this week. Bitcoin itself is bleeding badly and continues to lose market share. Coins like Vertcoin rocket up to the top 20 only to fall below into the 100s based on overhype and "flavor of the month" style thinking. It's complex international market that never sleeps, always surprises and is difficult to predict. One thing is for sure. Regardless of whether you believe in crypto or not. The people calling it "all a ponzi", "tulip mania", or "drug currency". Those people are fucking morons who have done no research. They're also incredibly abundant here. Crypto may be speculative, but you bet your ass people are going to speculate with twelve figure companies like Microsoft, IBM, Bosch are creating entire legions of personnel and resources dedicated to developing them. Each coin has a unique user base, application and potential. Some of them have serious challenges. Some of them have serious flaws. The activity in China, Korea and Japan is extraordinary. Some cities are positioning themselves to be "crypto capitals". There is even speculation that countries like China will "anoint" blockchains to be standardized and used throughout their economy. Cornering the market and dumping spectacular amounts of cash into certain coins. The rabbit hole goes even deeper when you get into ICOs, deep chart tokens, whale manipulation, governmental relations (Chinacoin), investor theory (going beyond coin fundamentals to coin perception and marketing), taxes, complex ecosystems (ERC20 tokens), cold storage, exchange politics, and dozens of other hot topics. I hope that clears some things up. I also suggest reading and visiting the communities behind some of the coins I've listed. Edit: added some details and fixed some spelling. Please feel free to repost this, or correct me. ''' Context Link Go1dfish undelete link unreddit undelete link Author: Acrimony01 1: *ell*b*oom.*o/ 2: www.sa*tl*nding**o*/ 3: dist**c*0*.io/ 4: https://coinmarketcap.com/charts/ Unknown links are censored to prevent spreading illicit content.
In light of the recent run up in value, global news headlines, and the usual bubble comments throughout the media and financial news. I thought it would be prudent to have a logical discussion on the value of bitcoin. I would like to debunk some of the bitcoin bubble ideas. This particular post on the website Zerohedge.com (http://www.zerohedge.com/news/2013-11-27/spot-difference) caught my eye in particular. Featuring this picture http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/11/20131127_bubbles_0.png Zerohedge compares historical Tulip mania, the South Sea Company Bubble, the .Com bust, and now... Bitcoin. While many people would view that image and see many similarities with Bitcoin, I would like to provide some counter points for them to consider. The following are some larger charts of the bubbles provided by Zerohedge: South Sea: http://www.digitalfinanceanalytics.com/blog/wp-content/uploads/2013/11/SouthSeaBubble.png Nasdaq: http://azizonomics.files.wordpress.com/2012/01/nasdaq-bubble.png Bitcoin: http://i.imgur.com/lgGW2vB.png Did you notice anything? Yes they do look similar. But if you took note of the dates on the bitcoin chart, you would see Jan 2011 - Nov 2011 provided. But wait you ask, I thought the media said Bitcoin was a bubble which was bound to burst. The following is the full bitcoin chart. http://i.imgur.com/ZKliuQg.png Even if you buy at the peak of the "bubble," it seems you can still benefit. I am not saying it will go up forever, please understand this. I am saying that Bitcoin is very different than the other bubbles provided. Not only does it make for an excellent unit of exchange through the blockchain, but it provides a method to store wealth independently from the banking system and government reach, a true breakthrough in the concept of money. Gold is commonly compared to bitcoin, and while it has similar monetary properties it has important differences. As a purely electronic form of money it can be transported across borders without confiscation. It can be sent across the world without interference from banks or governments. Gold must be protected with significant cost, and transportation is quite difficult if moving any significant distance. (http://www.bbc.co.uk/news/world-asia-25013393) Many believe gold is superior because it holds "intrinsic" value, but what really is the "intrinsic" value of gold? Most gold is not used for industrial purposes, (http://www.visualcapitalist.com/portfolio/the-gold-series-uses-and-demand-part-3), but instead is classified for Investment or Jewelry use. As both the investment qualities of Gold and the jewelry value of gold are very much subjective, I cannot state that there truly is Intrinsic value to gold. Be that as it is, I still own some gold as well as bitcoin as I believe both have their place in an investment portfolio. The South Sea Bubble and the Nasdaq bubble are both very different than bitcoin because Bitcoin is not a stock of a company. Obviously the NASDAQ is not a stock but the companies within the index consist of stocks. In any company there is the option to issue new shares, many of the companies in the .Com bubble had little or no earning... (hello amazon today http://www.google.ca/finance?q=amzn&ei=qyOYUvj4HuWtiQLIQA). The comparison between Bitcoin and stocks is meaningless as they are fundamentally different. Bitcoin is more of a commodity/currency than a stock in many obvious qualities. While I can not tell you what the price will be tomorrow, I can tell you that Bitcoin has started a movement. It is true monetary freedom, and while the price in fiat is volatile, I know exactly how much BTC I own when I go to sleep at night. I'm happy to own my piece of something bigger than a company, a true monetary community. I'm happy to share this experience with all the other bitcoiners out there. Have a great weekend and enjoy watching that chart (if that's what you're into).
This chart shows a comparison of price developments during the tulip mania in 1637 and the current bitcoin bonanza of 2017 Tulip chart bubble. From Dutch tulip mania in the 1630s to the Icelandic boom and burst of the early 2000s, the A bubble pattern is one of the most intriguing patterns around. This chart could explain why the bitcoin bubble hasn't fully burst. McClure.Desperate bankrupts threw themselves in canals. Bitcoin v tulips Lex analysis:. Why today's ... Crypto entrepreneur and investor James Todaro says five Bitcoin charts show the leading cryptocurrency is past of the point of being just another Beanie Babies bubble. Todaro, CEO of MedX, a blockchain powered global healthcare market and managing partner at Blocktown Capital, an investment fund for blockchain-focused ventures, outlines how Bitcoin’s 10-year run has outpaced […] Bitcoin Mania Too Much Like Tulip Mania. Throughout history there were people willing to pay any price for an investment just because it’s “a hot investment” and everybody thinks it will continue to soar in price. Take Tulip Mania as one example. Tulip mania is a period in the Dutch Golden Age during which contract prices for some bulbs of the recently introduced and fashionable tulip ... Related: What is bitcoin? Tulip mania . In the early 17th century, speculation helped drive the value of tulip bulbs in the Netherlands to previously unheard of prices. Newly imported from Turkey ...
Jamie Dimon, JPMorgan chief executive, says the enthusiasm for bitcoin is worse than Dutch tulip mania in the 1600s. But is the comparison between the two fair? But is the comparison between the ... This video is unavailable. Watch Queue Queue. Watch Queue Queue Queue Dec 15 – Demelza Hays, a cryptocurrency researcher at Incrementum and the co-author of their inaugural Crypto Research Report, discusses comparisons between bitcoin and the 17thcentury tulip ... When a tulip bulb cost as much as a house: The Tulip Mania of 1637 - Duration: 12:25. The History Guy: History Deserves to Be Remembered Recommended for you #Bitcoin fake out breakout? Is BTC due for a major correction? Many are calling for a massive pullback, but the truth is this 2020 market is not like the 201...