Just a quick video of me musing on the recent events with Bitcoin Cash.
Centralisation vs Concentration
I think a lot of people conflate cryptocurrencies being de-centralised with them being well- distributed.
Even though crypto operates in a free market, in my opinion (based on what I have observed) the majority of cryptos are concentrated in the hands of relatively few people. This leaves it open to pumps and market manipulation. This is going to be par-of-the-course until cryptocurrencies go mainstream. And even then it may just be a different group of whales hoarding the wealth.
It's part of the game.
Something to be mindful of when investing in cryptocurrencies and trying to work out how best to protect and grow your capital.
Strongly agree thanks for the post! Need to learn how to blog the way you do
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Haha!! I am hodling my Bch and btc in equal qtys going forward. They both hedge each other, until the dispute is resolved.
Back in 2013 (when I owned a lot of btc) There are a few bars on the price chart with my name on them :) btc is too liquid these days, and I wouldn’t attempt it even if I could!
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nice
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Thanks for very interesting post. You are a true gentleman!
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Nicely explained but at the end of the day uncertainty wins right !
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Informative post. Thanks for sharing.
These days, there is a talk in the market and i also heard the analysis of bitcoin investors that bitcoin is going to hit $10k this year. i wanted to buy it but i stopped, thinking that it will come down and today it come down to 6k. Now, i don't have any idea whether it will come down or keep going up like rocket speed. Share your experience. When should i buy bitcoin? thank you.
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If I was a betting man I would say a retest of $5k is not unreasonable. The last BTC corrections before at $1,800 and $3k made the RSI hit 30. We are at around 40 now.. :)
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NO NO NO bitcoin will hit 10 000 if Rothschild bank allow them
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Indeed and i agree with you.
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Thank you for the post. it appears that, at this point, the cryptocurrencies market is concentrated in the hands of the few as this video indicates. There's no way by any average person to be able to compete with the mega-computer mining farms. A different algorithm will have to be designed to determine value. Value cannot be the result of who has the most compute power applied. If this continues then crypto is not going anywhere in the end.
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https://steemit.com/@husnainali71jb
/nice post you also see my new posts and upvote it......i also upvote you on your nice post
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Thanks for this valuable information.I think Cryptocurrency market is very risky for new investor.
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Come on...tell us your fanboy coin?! Your out with a profit...everyone loves a shit coin every now and then! ha
As well as crypto wealth being in the hands of the few, human psychology with FOMO fuels the pumps even further when they pump for days with such ridiculous gains!
Waking up, wishing you had planned more ahead of the game is difficult for all of us....but we gotter sleep. Hang on tight, this rollercoaster is getting faster and more erratic!
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yeap.... More or less bang on assessment.
Wish I had gotten more Bcash during the fork. I held 85% of it tho, cashed in 15% a few days for some free money ;)
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Hello, excellent post, I invite you to visit and support my blog, regards
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thanks for sharing information @nanzo-scoop. I hope you always healthy.
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Nice and good job dear
I
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I see it as people who were pro Hard fork abandoning bitcoin for Bitcoin Cash. However, I don't see this lasting for very long. Almost every speculator finds themselves back holding Bitcoin because it is still the main store of value for cryptocoin and almost all if not all of the crypto's are traded against Bitcoin. I am still buying the dips on Bitcoin.
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nice post.
back me vote and comments pls bro
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Totally missed the bitcoin cash pump :( had it on the market too but I just didnt expect it. Like you said no charts can show this happening, you just got to assume it might happen or be there when it happens.
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wow
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Bunch of Bitcoin Drama lol :)
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Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @thejohalfiles valued at 73.20 SBD, based on the pending payout at the time the data was extracted.
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Congratulations @nanzo-scoop, this post is the second most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 29 and the total pending payments to posts in these categories was $1285.30. To see the full list of highest paid posts across all accounts categories, click here.
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is really a great pump... we are hoping for better days ahead..
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This is also one of the reason I feel IOTA is important as they can be better distributed and lesser chances of concentration and manipulation.
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So true..!! I completely agree with your opinion..!! Great post buddy..!! Thanks a lot..!! Keep posting such vlogs and videos..!
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Congratulations @nanzo-scoop!
Your post was mentioned in the hit parade in the following category:
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nice bro
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I could not agree more. I hope most were aware and a few as possible were damaged. Fortunately, I found myself in a very nice position which I took advantage of. Love the vlogs, keep them coming!!
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dont watch marketcap anymore, I really never gonne learnit.. what a crzay world
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Thank you, really interesting post! I also see centralization as one of the bigger problems in the future.
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very good publication, I liked it a lot. You have my vote. Greetings from Venezuela.
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Good thoughts. Supports my view that TA and EW are not applicable in crypto space due to the easiness of manipulation. But many insist on some wave pattern that signal danger or great opportunities, you name it. Of course if they throw out 3 predictions per day, out of random some will become true :)
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I am new to crypto. Delightfully so, I might add. I have entered a world of personal trading, unlike the complicated-to-enter markets, i.e. NASDAQ, DOW.
Personally, crypto has been an answer to a prayer, allowing for an opportunity to invest from the ground floor in many available stocks.
As with any market, one has to do the research to determine the potential growth value of a stock.
A young 18 year-old would do well to invest, starting with his first gig, a few coins every payday into crypto. Those pennies, if monitored quarterly could yield dollars long term, producing another rag to riches story.
Lastly, have you read @jerrybanfield’s new proposal on growing the Steemit community; thus, value of STEEM? If not, here’s the link.
https://steemit.com/steem/@jerrybanfield/steem-budget-proposals-whitepaper
Perhaps, you’ll do a video sharing your thoughts, pros and cons.
Peace.
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Great video. Thanks for sharing 😬
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Enjoyed the analysis. Regarding "who" was involved with the BCH pump, analyst Chris Burniske and twitter user at-notblakenielsen note that almost two-thirds of BCH trading activity took place on South Korean exchanges. (source: https://twitter.com/cburniske/status/929060542886612994)
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manipulators are playing with bitcoin cash
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Very good blog.
Visit CoinCheckup.com | SteemIT - Daily Technical Analysis
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