Hi all, crypto sludge here.
What a day ha? The markets are bloody , red and salty, almost everything took a 20% and up hits.
I really don't wan't to go over all the FUD and bullshit i saw today, i want to try to focus on the good things.
Except price, nothing changed., 1 year ago it was 10x less. The technology is still here. The idea is still here.
I am actually very happy to see Alts dropping in price vs BTC (specially bcash and XRP - I guess not Flippening ha Roger? LOL).
On the up side BTC got tons of awesome stuff on the horzion
- Segwit gets adopted more and more which will lower TX fees.
- LN is rolling out already on Mainnet
- Privacy focused changes via TumpleBit and ZeroLink
- Sidechains
- Schnorr signatures
- ETF's
- Decentralized Exchanges
Lunar New year. basically it's the Asia's X-mas. People are cashing out to buy presents, plane tickets, train tickets you name it, we know how strongly the BTC addoption is in Asia, so we can't be really surprised to see them cash out a bit.
its actually funny, but BTC has dipped in the last 4 years on January as well.
So don't worry, even if we are entering a cold winter, it doesn't matter. The technology and the idea BTC stands for - to change the world and give us back our financial freedom is still here and it's stronger then ever. By the time we finish, we won't give a fuck about the BTCUSD price, because we could simply use BTC to pay for the things we want.
So to all my Crypto buddies all i can say is :
AND!
Watch the markets, If you start to see and hear people REALLY start to panic, consider to buy in!
At time like these is when the REAL gain's are made - when you buy the blood off the streets, not when you FOMOing with the herd, i know i got a bag of fiat ready, and i am looking for fire-sales :)
Trade ON!
Crypto Sludge
Don't be scared, HODL. The fundamentals are there. Just needs to get over the seasonal slump over January
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Bitcoin is dying and its dragging the entire market down with it. The markets are literally joined at the hip with BTC, and when BTC falls because people have realized how slow and unreliable it is, the larger market ( the new money, people who have been in the game for less than 5 months) panics as they believe that bitcoin IS the market, and if bitcoin fails, then everything else does. This is part of the issue when people like Warren Buffett go on record saying that "Bitcoin is a bubble and will burst" That part is true, for the most part, not many people are willing to pay $36 for a transaction, especially one that takes an hour or more to confirm, and even more so when the developers make little attempt to fix the BTC network -
But when everyday people hear things like this is causes a massive amount of irrational fear...coupled with news from South Korea which was false, as well as news from traditional outlets that claim the market and Bitcoin are constantly dying. We risk going into a free fall in prices within the next few weeks if people don't stop spreading false information. The market dropped by 30% just on false news and an assumption that Korea MIGHT POSSIBLY COULD BE MAYBE be banned from the markets. What would happen if over a 3 day period Fox News and CNN falsely reported that "Bitcoin" was going to be banned in the US, without any proper sources to back it up? The market would implode all based on a rumour. This is why its VERY important to not follow false channels, or people looking to hype coins, its causing the market to expand in a direction that it shouldnt be going, which is the hype, pump, dump and the market is burning scenarios. This has a lasting effect on the human mind, and we'll pay for it eventually.
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What on Earth makes you think bitcoin is dying, it's price vs USD might be going down, but the tech is working as intended. hur dur its slow, hur dur 36$ for transaction - its a global, open source, immutable, censorship resistant, decentralized project in it's infancy stages and it's already working better then most of the the traditional systems, and empowers the people who use it. What you are saying reminds me of the "experts" of warren's buffets caliber that look at the internet over 14.4k analog modems and laughed. Who's laughing now? , honestly if i could care less about the price of BTC vs USD, i would. 1 BTC still worth 1 BTC and that is what's important to me. And yes i trade crypto, but i don't trade crypto to get more USD, i trade crypto to get more BTC!
And about the devs not working to improve the network, did you actually read my post? We got ground breaking tech coming in to BTC miles ahead of anything any alt coins are pushing, Does it take time? Fuck yea, its a 200 billion network (haha 195 now :D) i sure as hell want everything to be properly tested before they roll any change out.
Just look what happend with the S2X fork they tried to push down our throats, it would have hanged the network on the 1st fucking block.
They want to spread FUD? go ahead. we need the network and the community to go threw all of these stages to understand how rediculas it is, and work out an immunity for it. So yea it took us 5 times of "China BAN bitcoin" to understand bitcoin will survive without it. So it will take us 4 more "Korea BAN bitcoin" to understand the same. Fine by me, let the blood and tears shake down the clueless nubs that bought it for the "quick get rich".
Bitcoin will live on fine without them, and they will crawl back in at the first second.
my 2 cents.
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HAHAHAHAHAHA
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Buy the dips and HODL.
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Well done for spotting that annual January pattern. We see the future by looking at the patterns of the past. Life is cyclic like the tides and the Moon phases, we are all slaves to the rhythm.
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Can't take the credit, it was spotted by others first and it's not a new thing. I do agree that previous events are not 100% an indicator for the future, but we as humans do tend to be cyclic in everything we do :D
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Your words are like fresh air after suffocation !
Bravo , you gave me courage to continue my path as a cryptio hodl ; i invested 8k and hope it will gain momentum and profits by December .
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Glad i could help, always remember the big picture, and why we are in this :) It's our future damn it!
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