Or is it good 'mourning'.
....................................................................................................................................................................
Another day with Steem still less that $2.00.
BitCoin is hanging at Six Thousand ish.
Could be worse I suppose.
I've been wondering if the YUGE run up in the price of Bitcoin we saw earlier, when it almost hit $20K, was an aberration?
Tether was was pumping bitcoin like crazy. The supply was inflated to an insane amount. The price went up, as it does in all pumps. Then came the dump...now everything is assimilated?
Just a thought.
Remove the effects of the market manipulation, the 'pump', and what do we have?
A pump is as form of theft. Those who profit do so at the expense of others who loose. No new wealth is created.
Perhaps the new technologies being developed in the crypto-space is creating new wealth and we're seeing a return to organic growth rather than market manipulation?
One can only hope.
A lot of people got in during the hype last year, made a little money, then got out when media started screaming bubble. Anyone who actually cares about blockchain stayed but a lot of people didn't even know what they were getting into last year, they just saw dollar signs and wanted in for a short period. They'll regret getting out in a few years.
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Organic growth is preferred...just have not seen much of that lately!
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@everittdmickey All just left in the market is those shit bulltraps.
I hope soon this storm ends.
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right now the crypto market is so small that any wealthy individual or institution can easily manipulate it all they like, there are guys who could buy all the bitcoin and you only actually need to buy or sell only a small fraction of it to manipulate the price.
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yup...but it's getting bigger and thus more difficult to do.
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I don't wish to dampen your enthusiasm for that model...but...
This doesn't even include banking institutions, hedge funds etc...
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I don't get your point.
What has that got to do with anything?
(and don't forget that the reptilian Zril overlords have way more money than the rothchilds do).
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A total market of 257 billion means that the big financial players can manipulate that size of market (it's small), as they wish...
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of course. That's how the Vril manipulate the earth's glow bull economy. They have the combined resources of 297497833986 different star systems to draw from. Each world has a shell organization, similar to 'feed the children' on earth, which run vid-commercials.
"help the starving aboriginal population on earth. for only seventy three (local currency) you too can help a starving child.
Then they use that money to manipulate our economy.
Dastardly.
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interesting perspective... I just use math...
😂
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something something something..
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only a little, look at how Bitcoin shits the bed every time Mt Gox does one of their little sell offs.
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yup..that would be part of it.
When the Mt. Gox trustee 'sells off' it injects more bitcoin into the system thus causing the price to fall.
The difference being that those bitcoin are REAL
Tether is fake.
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And that's before JerryCoin. Another problem is the sheer volume of alt coins and the ease of creating them, its like when they came out with too many knock off beanie babies and Pogs, the market for each one is diluted. Or like the same thing that happened with sports memorabilia.
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yup...
which is why for a 'coin' to succeed long term it MUST have some inherent utility.
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that would be a good start
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If you wake up healthy it is good moning. Crypto will bounce back soon
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Did the btc price crash not coincide with the USA making it legal to speculate on btc without actually having to own it in January? I am going to research this a little tonight.
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dunno about that.
I especially don't know about 'make it legal' as if 'everything not mandated is prohibited'.
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