Oldfags of biz guide us

lower today. maybe 6-6.2. this was completely predictable.

Cryptocoins are not a market dumbfuck, it's a ponzi scheme

And yes it's happened many times before and people are always losing money in scams like this

This is where we separate boys from men. Grow some balls or get the fuck out of crypto.

Come with me OP
We can be young men together again
Take a leap of faith. Come with me...

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>this is very similar to the Mt. Gox crash

Nope, it's not.

Mt Gox -> BTC got stolen

January 2018 onwards -> people noticed that the BTC network cannot function as a global currency

It's fundamentally very different. The decade-long idea of BTC as a future currency lost all credibility.
BTC holders are already being laughed at. In 20 years BTC will be one of those curiosities like electric shocks used as treatment in the 19th century.

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Its only a ponzi if the coin has no use outside of being a "store of value"

oldfags dumped on us, told us to hold and now are laughing at our pain and suicides
fuck oldfags

It kinda reminds me less of the 2014 crash and more of something like the China FUD dip but on a massive drawn out scale.

I see the same sentiment occuring and believe or not there were people refusing to buy at the bottom of those dips insisting is was 'the end'.

2014 felt more like a shitcoin pump and dump, it went from $100 to $1000 in almost a month.

Likely will take less time. People often forget 2013 when BTC corrected a lot and then went on to 1200 in 2014. There's a chance that this could be the same thing. There's more interest and visibility, and if ETF's are ever approved by the SEC which is highly possible this year, expect everyone to FOMO back in. These are the main reasons i'm still hodling, and I'm looking at this as an opportunity to finally get 1BTC.

The dif being that during the China FUD, we all thought that since institutional money
and the Normies haven't got in, BTC will inevitably go up

This time however, I am not too sure.
Too many Normies got burnt and if you haven't dump your bags on them in Jan.
It is too late now

It's over
The whole crypto thing

Gox, dotcom, 2007... make your call.

the majority of BTC and crypto owners know it has no value. it's just an international casino. and for that function it has done very well.

I love it how Bitcoin sites are desperately trying to keep the price up with false news.

In Finland we have a BTC market for middle-aged normies and their site is always full of bullshit like "Lightning Network already complete and implemented, the dip is just because of lies from China."
"Dip over soon" and then it dips further LOL.

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I still think it's got another rally in it, either that or at least some volatile sideways activity that can be traded.

It'll go to 2k, I don't know if it'll ever fully recover. The days of 12k+ are over.

When the ICO alts start hitting project goals and there is still no price action, bags are going to be dropped en masse.
Of a lot of them will exit scam or collapse too.
Altcoins.

if you can't hold for a decade you probably should find some other investments

the days of moon mission are ogre

Now, think of the fact that there are guys out there that paid 19k for Bitcoin just a few months ago.

Makes you smile doesn't it. Unless you're the guy.

This

The whole thing is a joke and people are finally waking up

this is why team mini sucks
this faggot thinks crypto is a scam
still on Jow Forums
fuck team mini
PB FTW

I feel you user, I fucked myself over by buying at the peak too. I’m down 80%+

Fortunately, I managed to stumble into a pretty nice whale circle through sheer luck. The general consensus is:

-the bear market will last for about another year. The bottom will be around $100B market cap with $140 eth and $3/4k btc

-2020 will likely see the next huge boom

-Now is the time to really accumulate. On a weekly/monthly basis drop a certain percentage of your income into solid projects

Apart from that, all we can really do is wait. Hodl strong, friend

It's fucking sad

Lying scammers just trying to keep their ponzi going

Something I do remember about all of the previous bear periods is how quickly the sentiment can 180 when things turn even slightly bullish.

we're going to 3k. If youre asking questions like this please take the time to educate yourself. Look at @Swenlink's 2014 fractal projected onto this current chart....and look into wyckoff's work and see why we are going down.

Why would it recover now that it's been proven BTC can't function as a currency?
Did you forget about the slow confirmations and $50 transfer fees? It was all because the network had too many users. That was like less than 0,01% of the world population and it completely ruined Bitcoin. Global currency my ass.

Wait so you can predict the future by drawing lines on charts?

I can set up a meeting with the CEO of Goldman tomorrow, this is fucking HUGE.

Oh I agree. This is a good cleansing to get rid of all the shit. For those of us who work it's a great opportunity to buy more and ride the second wave even if we have to wait a few years. I'm just admitting there's a possibility this is a rather large pullback before even newer highs, but eventually a giant crash is going to happen. People are still hoping, so I can see it going either way.

>Did you forget about the slow confirmations and $50 transfer fees? It was all because the network had too many users.

You think that's the reason Bitcoin is crashing? The crash has literally nothing to do with Bitcoins functionality.

The delusion of cashies.
To accommodate visa's current volume alone would require 3GB blocks right now ie. totally ridiculous.
2nd layer is the only practical solution.
LN for the win.

We will capitulate to 3k sometime this year. Average your buy down

I have a bit of exposure to alts to hedge my bets in the event of a sudden take off, but I'm going into hibernation mode otherwise :)

yeah BTC cant scale. LN wont fix that.
That and that 80%+ is mined now is the difference to 2014. It has reached its peak regarding what was technically possible for it and with full mainstream attention. That was it. Get out while you can.

The word 'will' has no place when talking about trading.

> The crash has literally nothing to do with Bitcoins functionality.

It had everything to do with Bitcoin's lack of functionality.

lol team creme confirmed for braindead and retarded

I bet less than 1% of people who bought and then sold Bitcoin actually even tried to make a transaction with it.

kek, now the newfags want to hear from oldfags, after months of shitposting about what talented day traders they are. the irony is rich, THE IRONY IS RICH, GET IT? RICHER THAN NEWFAGS

I've been buying the dips for a while. still at quite a loss, as the dips keep getting deeper.
hope you're right and the bull will return

trips to confirm. Dubs to double confirm

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If the coin had a practical use case less people would have dumped it and the downtrend would not have been as harsh. Its fairly simple.

BTC, as it stands right now IS a ponzi scheme. It has no reason to exist over something like Monero for example.

Complete bullshit. The coin is worthless, all you're doing is manipulating a market of numbers.

This is why it's so hard to people to put the 'buy low' part into practice.

If you believe this guy now, you would have believed him in late 2014 too.

>January 2018 onwards -> people noticed that the BTC network cannot function as a global currency

I'd say earlier. It really hit me when I was trying to exit in December into gold and it took a week to get the BTC transferred no matter what fee I stuck on. BTC is shit as a currency.

This seems like just another day to me.

The problem is the decreasing vol and interest, which will be the death of us.

fuck off Jow Forums you laughed at me when I made this post in december
you deserve this

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Are you really such newfags?
Since 2017 people were in constant fear of bubble bursting. Daily. Everyone knew this heppning is about to come.
----------------------------------------
Peanut butter
We nut in your mother

big issue is also this insane volatility.
it doesnt let you sleep when you check you portfolio 20x a day.
its heavy mentally and psychological. no sane person wants to endure that for sustained periods of time.

also:
ecological disaster
no central bank backing
deflationary supply (which makes ur “investment” into a gamble)
easy to copy paste monopoly money coin
backed by eventually nothing, worse than tulips

only pros: blockchain, decentralized ledger
that has killer use but i dont see it with btc but more in industry use and not in internet monopoly money.

so what's your advice? what is the buy in target this time?

So what's the buy target faggot i know it should be around 3-4k but then again I am a September buyer this is my first crash all i know is i am still up x3 from my initial already cashed out will enter back in but i dont know if 4k will be possible although you cant compare the old times of bitcoin to 2018 we have lighting network and alot of infrastructure being built to be delivered this year shouldn't this pump up the price?

there will be a dip down just as steap as the spike to $20k was
then the price will double and another bull run will begin
it will be extremely slow at first, build will gradually build up for the coming 3 years

youtube.com/watch?v=3-Ml8oAVqUc

>no sane person wants to endure that for sustained periods of time
Please god help me I've been stuck in this surreal anxiety attack checking the Bitcoin prices since late 2016.

are you some kind of fucking autist? trade with the trend, not against this.
Ive been telling people this since 14k just to get called a brainlet and a poorfag, and now newfags are asking for help. its fucking hilarious. just quit and get a job

there was tons of good news in 2014, none of it matters
I don't even bother with news I watch the psychology of the market
lightning is the shit but it will take time to build up confidence. nobody is ready to put his millions in this just yet

3GB blocksize limit isn't even that ridiculous.
1GB blocks can be run NOW on a $4,000 machine. Even 1/3 or 1/10 of VISA level would be huge for cryptocurrency.
1MB blocks simply can't support a system outside of a few niche websites for NEETs online.
Bitcoin Cash can scale onchain. Specialized UTXO validation hardware and write-once read only optical storage can eventually get us way way way past 1 MB. 1MB is a joke!!!!

the market's already down to november levels though, isn't the dip supposed to be over?

>isn't the dip supposed to be over?
kek. Sometime in the next 9 months or so is the bottom of the dip. then you get to move SIDEWAYS. That's the good news. Once you reach the real bottom, there is no more loss. Only sideways and you move up very very gradually for like 2 years. So the people saying 3 years aren't wrong if you're tring to get back up to the all-time high. But if you're just waiting for the bottom to buy back in, it's less than a year of waiting left.

>But but but but it's a commodity not a currency!

You fucking retards. It's a bunch of bits shared by a network of computers. It has absolutely no purpose except wasting huge amounts of electricity.

I dont think Bitcoin will bounce back this time. Coins that have some kind of actual use will be the ones to start a new bubble. Bitcoin is old and outdated. It will go up. But I doubt it will ever get to the point it was in December ever again. We will be too focused on some DAPP social media page (Steemit) or some kind of interesting idea that goes viral and is based on EOS or ETH. And THAT will cause the next boom.

Sad thing is, there is no real reason for the coin to go up in value just because of adoption. Thats the issue, when crypto booms and everyone begins using it for some cool new thing. People wont buy large amounts of the coins, they will just get what they need to use it. Nobody will HODL. It will just end up being an intermediary to utilize functionality.

There is no reason for the average user of steemit to have steem power. In fact its completely pointless if you are a great content creator you can earn money regardless. Steem power is only for people who want to promote and moderate the platform honestly.

I followed the charts daily from end of 2012. Completly normal. I expect it to go to 4000$ to be honest

B..but my anonymity
>need a bank account to use an exchange
B..but fuck the government
>pays capital goys tax

I sold in december so I'm actually gradually moving in again (about 15% now)
last time it took a year but this pop is much much slower than the last one nobody can tell
I was wrong about the velocity because there are way more exchanges now slowing it down.
nobody knows people are much more aware of it too but at the end of 2014 nobody was talking about bitcoin anymore.

So the old saying no amount of bad or good news can change the trend of a market is true, 2 years to accumulate sounds good to me last time i accumulated 2 months to reach an ath of 60k , i can't even imagine the amount of gains I'd get with 2 years of accumulation

You're saying the bleed is actually slower this time? It feels really quick. I thought we'd take a full year at least to reach the bottom if it's around 4k but at this rate we could be there in a month or two.

Watch the charts from 2014 to 2016 it looks exactly the same

Nor when speaking of capitulation - you absolute faggot

It is another day, you absolute faggot.

I first bought btc around 2011-2012. But i started to "invest" when it was around 800 on early 2014. Its much faster and bloody this time. It definitely feels like that, lots of false hope. like "overstock is starting accept bitcoin the price surely will go up". There was a bull trap in the summer of 14 that took us back up to around 750. People were waiting for that as a signal for a reversal. Then it corrected back to 450. And then it went down to 270. After that people were seriously friggin out. Thats when the bitcoin is death articles started to really pop. We then have capitulation that year on Dec. And people were angry and done with bitcoin and rage quiting. Little did they know that was the bottom.

So in short, there still a lot of hope out there. Price is still high. Honestly until we hit at least 2k I still believe people have too much hope on bitcoin.

well it felt faster but maybe that's because I remember pic related vividly

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I think it's actually slower, it's just we're in the second dip of the crash and will likely bounce back up and bleed down from there.

That trip from $700 down to $290 and then back up to $600 in 1 week looks brutal.

this time is much faster, just look at the charts, that guy is full of shit. the price was down 40% from the ATH (1300) back then We are down almost 75%. In a way this is good news. you want this shit to reset as soon as possible. But desu people need to start losing in hope in order to get a reversal. And that takes a lot of time. There still a lot of hope

This crash isn't anything like the previous crashes. So comparing it to them is absurd.

It is however, crazy similar to the dot com crash in the 90's. The market trends. How people talk about it. Everything.

So, if history repeats itself, crypto won't die. But, the hyper-volatile market with moon missions and over night riches is long gone.

There were gems like Amazon, Ebay, and Netflix hidden among all the shit back then. There are gems among all the shit now. If you watch the market, do a butt load of research, and invest wisely you'll come out of the crash in a really good position.

Don't get caught up in the "it's the end of the world" FUD, because it isn't. This might one of the greatest opportunities to become wealthy you will have. Take it or end up like one shit head boomers or gen xers that say "man, I wish I invested in amazon when it was $1".

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what coins do you hold? help your bizbros out

>So, if history repeats itself, crypto won't die. But, the hyper-volatile market with moon missions and over night riches is long gone.

Why? Penny stocks still exist and behave almost the same as crypto. Why wouldn't super volatile small-cap shitcoins continue to exist?

>spells it out

J O O B I L A T I O N

Most penny stocks actually have cash flows and growth which makes them much easier to value.

>But desu people need to start losing in hope in order to get a reversal. And that takes a lot of time. There still a lot of hope
absolute truth

People thought the internet couldn't scale, either.

If EOS dies / turns out to be a scam / Dan falls off a cliff and explodes, that would be it for me. I would then pull out all money from the market and wash my hands of this entire thing.

Bottom line here is that, we might need to come to grips with the idea that mass adoption may not actually have a huge effect on a coins value. If a lot more people spend and use the coin, volatility would be much less.

Who oldfag and buying EOS here?

I would seriously not hold ANY fucking alt during 2018
however good your fucking alt might be it's going down
this has nothing to do with rationality

What would even be the catalyst for BTC to go back to December levels? You now are reminded that Tether exists.

Unfortunately I have genesis addresses for my alt, which means I literally can't rebuy back in later with the same benefit if I sell, so I'm basically forced to hold. The pain is killing me.

dude dont be an idiot. if you have all your money in a shit coin and you know it then you are going to get rekt. Dan Larimer is notorious for dumping projects.Just look at the coins during the crash of 14. Almost all of them are abandoned or almost gone

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>Amazon allows payments in Bitcoin
But really there are plenty of things that could make it go back up. There wasn't a single reason for it to go that high in the first place.

> being this much of a butternigger
Enjoy holding bags your whole life

well then, just like dogecoin and so many others it will rebound, but probably in 2020-2021

Dont hold any alts. Only hold a proven coin like BTC, ETH, BCH and maybe LTC, XMR, and XRP. Its not time to fuck around with products that dont exist yet