Bitcoin is down 50 per cent since 2017, and few other cryptocurrencies are much better off

[asus killer]

32 minutes ago, Vode said:

All of Crypto is up multiple times from 1 year ago...

my house is burning down, still it's better than last year when i didn't even had a house. 

[Vode]

29 minutes ago, asus killer said:

my house is burning down, still it's better than last year when i didn't even had a house. 

If you put 1000 bucks into BTC a year ago you‘d have around 6k by now. 

 

Your analogy doesn‘t really work.

[The Benjamins]

30 minutes ago, asus killer said:

my house is burning down, still it's better than last year when i didn't even had a house. 

If you think this is a issue, NEVER invest in stocks, they all do this.

[asus killer]

Just now, The Benjamins said:

If you think this is a issue, NEVER invest in stocks, they all do this.

wasn't bitcoin's in general supposed to be the anti establishment thing, against the currency manipulation bullshit, against big banks, stocks, etc created to avoid another crash like the 2007... so now they are just a normal stock, i'm confused

[bcredeur97]

it goes up, it goes down.

it's a relatively new market. It's going to have large swings. In general since it started the trend has been upwards. Until that changes can't really say much about it...

[The Benjamins]

4 minutes ago, asus killer said:

wasn't bitcoin's in general supposed to be the anti establishment thing, against the currency manipulation bullshit, against big banks, stocks, etc created to avoid another crash like the 2007... so now they are just a normal stock, i'm confused

Who told you that?

 

It is just a decentralized currency, obviously the people that hold most of it can control and manipulate it.

but if you look at BTC trend, it only been on the upward trend. it has spikes and corrections when the media goes crazy and a big hype train starts running down the tracks. but Over all it has yet to stop its growth, and it is NO WHERE NEAR the size it needs to be to even be close to the top 10 currencies. Even if 1 BTC was $100,000  USD the market cap would still be less then USD.

[BuckGup]

3 hours ago, Antistatic12 said:

It could be a proper market correction, or maybe it is the end. Who knows.

I'm surprised I haven't seen a FortniteCoin, also where is LinusCoin?. Is LTT still working on it??

It’s actually pretty stable now and the high price hike was a combination of the fork that happened last June and uneducated buyers inflating the price then getting scared causing a crash

[Vode]

19 minutes ago, asus killer said:

wasn't bitcoin's in general supposed to be the anti establishment thing, against the currency manipulation bullshit, against big banks, stocks, etc created to avoid another crash like the 2007... so now they are just a normal stock, i'm confused

Bitcoin is a finite resource, immutable and censorship resistant. It‘s a store of value, a commodity like Gold.

 

Price can crash like any other commodity. But it can‘t be shut down, you have complete control over your own balance and can do with it whatever you want. 

 

These are the key points which the banking system can‘t and won‘t allow.

[asus killer]

1 hour ago, The Benjamins said:

Who told you that?

 

It is just a decentralized currency, obviously the people that hold most of it can control and manipulate it.

but if you look at BTC trend, it only been on the upward trend. it has spikes and corrections when the media goes crazy and a big hype train starts running down the tracks. but Over all it has yet to stop its growth, and it is NO WHERE NEAR the size it needs to be to even be close to the top 10 currencies. Even if 1 BTC was $100,000  USD the market cap would still be less then USD.

i was under the impression that was the case, well...

 

you can't say it "only been on the upward trend" when it is in free fall since january, i do understand what you say but you are bending or "trumping" the truth

[DrMacintosh]

6 hours ago, Kukielka said:

"It's a Bubble! It's a bubble!"

You see that in the middle there? That was the Dot-Com crash, look where we are now

And nobody realizes that that graph is not sustainable. 

 

“Unemployment is down and wages are up! We are doing the right things!” I laugh at anyone who thinks that. It’s all going to crash and take the housing market with it. 

[The Benjamins]

52 minutes ago, asus killer said:

i was under the impression that was the case, well...

 

you can't say it "only been on the upward trend" when it is in free fall since january, i do understand what you say but you are bending or "trumping" the truth

Fair enough, It just annoys me when people/articles make it look like its nose diving.

 

yes its on a slight downward trend for the past few months, but nothing major.

[Brooksie359]

4 hours ago, DrMacintosh said:

And nobody realizes that that graph is not sustainable. 

 

“Unemployment is down and wages are up! We are doing the right things!” I laugh at anyone who thinks that. It’s all going to crash and take the housing market with it. 

Yeah there will be recessions just like there always has been in history but then the economy recovers and begins to trend upward again. Over the long term it increases and always has thought history. Yeah it might go down in the short or medium term but of you are talking about 20+ years it will trend upward. 

[mr moose]

11 hours ago, The Benjamins said:

 

10 years lol, go look at it again, It had a 1 year spike with values of around the same before and after. it didn't even need to recover.

 

Also the title is very miss leading, just look at the growth it had over 2 years, yes it had a spike and correction but over all it is FAR higher then it was 1.5 years before.

 

Its been on a slight decline for the past few months but nothing to be alarmed about. Call me when after a correction it is less then before, because in the history of BTC it has never done that.

 

https://blockchain.info/charts/market-price?timespan=2years

Read my post again, I gave the exact accurate enough figures.

[DrMacintosh]

3 hours ago, Brooksie359 said:

Yeah it might go down in the short or medium term but of you are talking about 20+ years it will trend upward. 

And you can’t credit anyone with making that happen. The market has a tendency to go up, but there is no law in economics or otherwise that says the economy must trend upward in the long run.

 

People would rather not have recessions. You can’t escape the business cycle, but recessions are generally the result of unregulated speculation. The very heart of what Crypto is, and that is why both respective economies ultimately crash. 

[mr moose]

3 hours ago, Brooksie359 said:

Yeah there will be recessions just like there always has been in history but then the economy recovers and begins to trend upward again. Over the long term it increases and always has thought history. Yeah it might go down in the short or medium term but of you are talking about 20+ years it will trend upward. 

Exactly, if history has taught us anything, it is that the economy always grows long term and quality of life always improves. Any one who thinks otherwise should start reading about history.

[Cyanara]

16 hours ago, The Benjamins said:

This is the worst article ever. No graphs of price over time, no price information at all. We just have to trust them at their word. lol

Did you look at the links under the graph where it says source?

13 hours ago, suicidalfranco said:

> looks at list

> only 1 coin mineable with GPU where it still makes sense

> OP makes it about gamers

 

Yep, i'm in LTT forum alright

And the soaring video card prices during that same time period were just a total coincidence? Higher profit margins on mining would have made consumer grade gear seem much more viable, and I doubt everyone trying to get into the next big thing put a whole lot of thought into the maths and sustainability behind their decision. Kind of the reason bubbles happen.

14 hours ago, mynameisjuan said:

Its peak was in Dec 2017 when it was what, 20k? So down 50% still leaves it quite high. 

 

But it leaves a good click bait title. 

I mostly copied the title from the original article because I was tired. And they would have used it because Bitcoin is the one cryptocurrency everyone has heard of. This isn't about the long term viability of cryptocurrency, just a powerful visualisation of a recent boom and bust cycle. Bitcoin is only 1/50th of the graph.

[Brooksie359]

12 hours ago, DrMacintosh said:

And you can’t credit anyone with making that happen. The market has a tendency to go up, but there is no law in economics or otherwise that says the economy must trend upward in the long run.

 

People would rather not have recessions. You can’t escape the business cycle, but recessions are generally the result of unregulated speculation. The very heart of what Crypto is, and that is why both respective economies ultimately crash. 

This has been the case for the last century. It may not be a law but it is a well tested theory and most economist agree that over the long term the economy and stock market is an upward trend which is why there is inflation over the long term as well. 

[The Benjamins]

9 hours ago, Cyanara said:

Did you look at the links under the graph where it says source?

And the soaring video card prices during that same time period were just a total coincidence? Higher profit margins on mining would have made consumer grade gear seem much more viable, and I doubt everyone trying to get into the next big thing put a whole lot of thought into the maths and sustainability behind their decision. Kind of the reason bubbles happen.

I mostly copied the title from the original article because I was tired. And they would have used it because Bitcoin is the one cryptocurrency everyone has heard of. This isn't about the long term viability of cryptocurrency, just a powerful visualisation of a recent boom and bust cycle. Bitcoin is only 1/50th of the graph.

Do you meab this useless thing i was already talking about?

http://mobile.abc.net.au/news/2018-06-18/the-biggest-cryptocurrencies-are-having-a-really-bad-year/9869314?pfmredir=sm

 

They had no real info. Just a few points of data that backed their story.

[mr moose]

9 hours ago, Brooksie359 said:

This has been the case for the last century. It may not be a law but it is a well tested theory and most economist agree that over the long term the economy and stock market is an upward trend which is why there is inflation over the long term as well. 

Last 3 centuries actually.    The first steam engine (atmospheric engine) was used to pump water out of mines in 1715.  Making mining a huge growth industry with mass migration of workers.   It's all up from there.

[Brooksie359]

9 minutes ago, mr moose said:

Last 3 centuries actually.    The first steam engine (atmospheric engine) was used to pump water out of mines in 1715.  Making mining a huge growth industry with mass migration of workers.   It's all up from there.

Yeah since this was about stocks I thought it was necessary to limit it to when the stock market existed.