Is it still worth investing cryptocurrency in the end of 2018
Now that the crypto market is crashing, and has been crashing for months now, the question that comes to mind: did all those crypto experts actually knew what they were talking about?
Bitcoin, Litecoin, Ether and maxcoins ... what are they actually worth and what is driving the cryptocurrency mania?
Bitcoin, Litecoin, Ether and maxcoins ... what are they actually worth and what is driving the cryptocurrency mania?
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10 Answers
Artem
Upvotes from: JOSHUA 、nanotree
2. The reasoning that cryptocurrencies will go up is simply because they solve A REAL PROBLEM of boom and bust cycles. I explained this to you in your last video. Feel free to continue to ignore this.
3. Gold and silver are not volatile. This is the deception you receive because we deal in fiat all the freaking time. Approximately the same amount of gold would get you a good dinner over the last 100 years. The only reason fiat "seems" stable is because it's acceptable as stable over a short period of time, while in reality there's constant inflation in everything of AT LEAST 3%/year. The problem with your logic is that you're speaking very short term. Compare the stability of gold/silver to fiat over 20 years and you'll see the difference. Again, don't compare them to fiat directly, but something else like a basket of goods or other services whose scarcity has not changed, and you'll see that gold and silver are WAY more stable, ignoring bubbles that are short termed anyway. Buying gold and silver is not a short term act. That's stupid to even think of. It's the long term hedge is why people buy them, again, ignoring speculations and bubbles.
4. Cryptocurrencies have a low market cap, that's why they're volatile. When they rise (which is inevitable upon the next economic crisis), they'll become more stable. Think of it as if a business has the capacity to manipulate 1 billion dollars. By today's numbers that's 0.5% of crypto markets, which is relatively high. If crypto is to reach 5 trillion one day, that billion would be 0.002%, which is nothing and manipulation would not be as successful, and hence the prices would stabilize. Also don't forget that this is new tech, so it still is undetermined how valuable it's intrinsically based on the amount of problems it solves.
5. Gold and silver and cryptos have one thing in common that gives them value: Scarcity. Cryptos don't have intrinsic values and no one claimed that; and is not backed by anything. Show me who said that! That's nonsensical!
6. For the millionth time: The only difference between crypto and fiat is that crypto is not corruptible because it's based on consensus, while fiat is corruptible and no one knows how much a central bank decides to print the next day and change interest rates to cause another economic bust like 2008, which is coming soon. With crypto, that WON'T HAPPEN. If you look at the numbers, you'll see that central banks are printing money to buy commodities and stocks... how disgusting is that? That's exactly what happened during the big depression! Can that ever happen with crypto? NO! Because no one can PRINT MONEY.
7. It's not silly to say that fiat is not backed by anything, because the term "not back by anything" means that it can be PRINTED WITH NO LIMITS, which is HAPPENING! Not only that, but setting the country to infinite debt... all that is because the government is in charge of economics! Cryptocurrencies separate states and economics, which solves the boom/bust cycles problems.
8. Cryptos may not go back up. That's possible. But mark your words and learn from your mistakes if you're wrong. The problem with people like you, Stefan, with all due respect, is that you don't learn from your wrong speculations.
9. The founder of Litecoin, Lee, TOLD PEOPLE that this was mania/bubble. He didn't lie. Where the hell do you get your info from? 10. Nice piece of advice. I'll keep that in mind. Just keep in mind that this is the second wave of bitcoin going up in price. It went up in 2014 and down from $1000 to $200, and back up to 20k and now to 6k.
ken
Upvotes from: JOSHUA 、nanotree
CHARLIE
Upvotes from: nanotree
Dylan
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Nigel
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AOD
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Tyler
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JOSHUA
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WILLIAM
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nanotree
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2. Cryptocurrencies solve the problem of boom and bust cycles and infinite inflation, which you don't seem to understand either
3. Cryptos are in a small market. It's normal for them to be manipulated.
4. Not all cryptos are valuable. There are scams everywhere. However, a virus doesn't mean that all computers are useless.
5. All markets are down, not only crypto.
6. Cryptos go up and down together because they're all tied to the first few currencies, primarily bitcoin, because exchanges primarily provide fiat gateways through these main currencies.
7. The use case of cryptos is clear but you don't know it. Let me tell you what it's: It's separation of state and economy!
8. Complaining about crypto problems? When the internet started in the 90s IT WAS USELESS. Do you really wanna compare what the internet was and what it's now? Seriously? Are you really making the case of "problems" in a new tech?
9. This is not the first time the market crashes. It did in 2014. No one cares. Look at the "collapse" of 2014.
10. Every investment is gambling. There's absolutely not a single investment in the world that's not gambling, because you don't know the outcome. If you know the outcome, it's not an investment. There's a bubble, that's a given. But calling it gambling is plain stupid.
11. Buying a miner or the coin itself is a valid question, and you should do your math and know what's cheaper for you. If you live in countries where electricity is cheap, then it's cheap to use a miner than to buy the currency. The math decides, not doing things in a geeky way or not. If you wanna play the geek game, just use your graphics card and mine Monero or something.