Bitcoin drops like this, Sell everything else

May 19, 2021 619 Comments

To all new Crypto people thinking their alt coin will stay strong, Bitcoin is always the leader, and when it drops so does everything else no matter how good a project you think it might be.

See you again next crypto cycle πŸ»πŸ˜΄β„οΈ

4309 PARTICIPANTS SELECT ONLY ONE ANSWER
VOTE VIEW RESULT

comments

Want to comment? LOG IN or SIGN UP
TOP 619 Comments
  • Plaid
    platypus01

    Go to company page Plaid

    platypus01
    Crypto is modern day tulips. Let me know last time anyone used any crypto to buy groceries. Bitcoin has been out for 10+ years what kind of adoption has it received in all those years ?
    May 22, 2021 64
    • SAP / Product
      Ο€

      Go to company page SAP Product

      Ο€
      @Plaid Bitcoin yes. Chinese mining centralization could threaten the Bitcoin, we can agree on that.

      But the discussion was around crypto in general. And it is why I think Proof-of-Stake consensus will help the adoption of decentralized blockchains.
      May 26, 2021
    • Agreed on the world moving to proof of stake although that has it’s own set of issues.

      I think blockchains will also need to start figuring out how to stay secure as quantum computing becomes mainstream over the next 10 years or so. Given that it is difficult to change the chain once created I worry quantum computing will wreck some chains before they change
      May 26, 2021
  • Cigna
    Blckrippin

    Go to company page Cigna

    Blckrippin
    Bull markets make you rich. Bear markets make you wealthy
    May 19, 2021 15
  • There's no way we'll ever see BTC above $100K as China will not allow it. They are already announcing plans to stop mining and trading of BTC..... They want to develop a digital Yuan that they can control and is centralized. Hence why without Chinese government's support, BTC will always be held back and suppressed on a global level.
    May 22, 2021 28
  • Amazon
    bluphone

    Go to company page Amazon

    bluphone
    If you’re in crypto, get out now. Cut your losses. Governments are finding greater ways to regulate and restrict the use of crypto currencies. This isn’t a bear market. This is smart people dumping crypto because the death knells have started ringing. These currencies still continue to go lower. Cryptidiots, who are essentially running a Ponzi scheme with your money at risk, will always try to convince you otherwise. Think with your brain, not your heart. If you stay in, it will be a get-rich-quick scheme - but just not for you.
    May 22, 2021 21
    • Plaid
      platypus01

      Go to company page Plaid

      platypus01
      @facebook this is the reason why people try to justify bitcoins usefulness because of the amount of fiat dollars they have invested in it.
      May 23, 2021
    • @Plaid lol. I just don't want people to panic sell and lose out. And smart money controls the markets not these retailers who are clueless what to do and are looking for advice on social media.
      If you don't believe in crypto, fine by me. I am not going to convince you. But if you bought the top and want to sell now because people on the internet are panicking, that is a bad choice.
      May 23, 2021
  • I agree, although I think after this round ETH might switch to be the market leader as it switches to POS and environmental impacts of crypto become a bigger talking point
    May 19, 2021 13
    • Bitcoin can’t be used as a currency the transaction limits are way too low

      @datboy - if people tried to buy half the currency the price would skyrocket making it way more expensive than you think. Getting half the compute power feels a lot easier given half already sits in China and the government could take it. A computer virus could also infect a bunch of retail people to help get 50% of compute.
      May 22, 2021
    • @capitalone - you should read up on the lightning network. It is a 2nd layer solution for bitcoin with the capacity to have the entire world transact on it with quick, near zero fee transactions as the network grows.

      And sure, I see your point. One thing is, China doesn’t have half of the hash power of the network, estimates are more like 25%. But the bottom line is, in a POS system the most wealthy members on the network hold the most influence - meaning it is more centralized. Whereas in POW, mining groups with the most hash rate have historically been unable to hold any influence over the network.
      May 22, 2021