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RE: Why HODL?
You have to remember that every crypto is falling sharply as well but I do get the cult part and often think that Steem will have finally "made it" when such posts aren't on trending even if Steem price itself would be falling. Quality content should matter more here, not "Please buy Steem now when it is cheap, this is not financial guidance though" posts. It just irks me as well and makes me want to jump the ship rather than aboard it.
I guess the biggest shareholders don't see it that way though.
Otherwise bid bots wouldn't been allowed to exist in the first place
Superb comment thank you, I think very much the same way.
Though not all cryptos are falling you see, this from bittrex today.
PAX
Biggest % Gain
Paxos Standard (PAX)
24.19 BTC
11.6%
NEOS
Biggest % Gain
NeosCoin (NEOS)
5.29 BTC
40.9 %
BSV
Top Volume
Bitcoin SV (BSV)
1082.81 BTC
10.7 %
I'm talking about the overall trend, not about little bumps up that some coins might have every now and then before again following BTC down.
I hear you my friend, and yes, it is all a big con, as long as everything remains tied to the ex fakebook founders the Winklevoss twins bitcoin.
Well con is stretching it as well as Winklewoss twins "owning" bitcoin.
This cycle has happened before, and will probably happen once more, after that crypto will probably be in wide use daily and won't have such volatility as it does now.
The tech is here to stay, products are being built, UI's are getting better and easier to use, financial markets are busy building ways for corporations to get involved legally and safely.
The correct time to give final judgement for this tech is in +5 years. Will Steem still be operating in any meaningful state? I hope so, but I'm sure Bitcoin and Eth will be in a very impactful way to whole humanity. Just like Internet, Crypto will be as big.
How much value does trust have? We're about to find out. But I'm sure it will be worth more than one company like Uber.
We can't forget that change takes time, Internet had easier time, it only made our means of communication better. You could send and receive information easily and fast but crypto is asking people to adopt whole new mindset. It will be internet's funny money for many people for a long time still, it's just so utopian thought. A currency backed by no central authority? That's something that hasn't existed before. It will take some time for everyone to come to terms with it.
Personally I see it as a next evolutional step. Nothing more, nothing less.
However, I think dumping will probably continue, perhaps even down to 2,5k per btc or even to 1,8k. I wouldn't be too eager throwing fiat in right now, but if the fever is too consuming. Dividing it for weekly buys is a good idea. But those who can't stomach big drops should just wait for some signs of bull market coming back, even if it means not getting the absolute best price. In long term it won't matter.
You know, this comment could well win you some steem? Right about here https://steemit.com/conspiracy/@shepz1/meme-me-your-best-conspiracy-fact-or-just-tell-me-your-favorite-false-flag-competition
Haha, sure, why not. I'll post it there as well. One more "crypto will actually be adopted worldwide" conspiracy theory :) There's never enough of them.
Here, made some more editions that I think you might like:
https://steemit.com/conspiracy/@igster/re-shepz1-meme-me-your-best-conspiracy-fact-or-just-tell-me-your-favorite-false-flag-competition-20181125t171758856z
LOL, no comment.
By the way http://fortune.com/2017/12/04/winklevoss-twins-bitcoin-billionaires/ :-) Have a superb day.
I know all about it. Doesn't mean bitcoin is theirs in anyway. That's the beauty behind this tech. Even more splendid day for you :)