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Is anyone else starting to become a bit worried? mod note in first post

Autochange

Bear markets
Fud
Regulation
Wall Street manipulation
The supposed tether ticking time bomb

What are your thoughts? Have you cashed out? Have you been buying the dips?

MOD NOTE:
Its good to see healthy debate and discussion taking place and I am sure every supporter of cryptocurrency and blockchain can agree that the contrarian viewpoint is worthwhile reading, if only to act as an anchor and help prevent investors from getting carried away in an echo chamber of "everything is wonderful, just keep going"

However, there have been a few reported posts recently which I did not action as I wanted to see the thread level out itself rather than start forcing viewpoints and I have been in two minds about that decision.

I'm not going to single any posters out but I'm going to ask that all posters read the forum charter and I want to point out that it was established years ago in the Television forum, that dropping in on a forum to tell the followers of that forums topic (in that case a particular tv show) that it was all crap and only idiots watched it etc etc was the exact definition of being a dick and attempting to troll. I know this because I was the mod of the forum at the time. Now look at the forum charter again.

There is pretty much one rule on this forum : if you cannot discuss in a civil manner, and I mean discuss, not soapbox or attack, then you have absolutely no business posting here and I have no qualms about removing your ability to do so.

This forum is for people that have in interest in cryptocurrencies, blockchain and their application to financial investments. that can be positive or negative but if you really feel the need to start pulling out memes / hiding insults in imaginary hashtags / attacking personalities or just generally being a dick there are other forums you can post in where I will let the local mods determine if it is within the scope of allowable behaviour. Here, it is not.

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grindle

smacl wrote: »

I notice av software is increasingly start to report mining apps and services as suspicious.

xmr-stak is routinely hidden inside malware these days, there's a fair reason for flagging it.

I just wish they'd listen to me when I say "YES, YES FOR CHRIST'S SAKE I WANT TO INSTALLLLLLLIIIIITTTTTTTT!!!!!"

But they keep bugging me unless I make an exception.

smacl

Windows defender also started flagging minergate in january and I'd expect more to get added with on going Windows updates. Sneaking mining into your corporate work network doesn't seem smart regardless of ethics.

Thargor

You're never going to mine enough nowadays to make it worth destroying your career, back in the day though I might have risked it.

JohnnyFlash

Is there anyway of knowing when the good folks in Tether are about to launch more of their coins? Some people do have the inside track, as there’s always a massive pump before they do, and then another pump when they actually get launched. It’s mad how such a shady operation can have such an impact on the entire crypto space.

Be nice if you could have the inside track. Make 20% and cash the hell out..

grindle

You'd have to keep your eye on OmniExplorer.info for the birthing of new Tethers.
If there is insider trading going on (very likely) the pump will have already begun before the Tethers are created.

Chancer3001

Saw a graph of the lessening of traffic across all the exchanges over the last month.

Coinbase , all the deltas, binance etc etc

All their traffic was down a good 30-50%...

That's terrible news as it means new money coming in is less and less.

Leaving just us in the game. The small fish get completely screwed by the whales (I'm not a fishmonger I swear !)

That has me worried as much as anything.

Fresh money is needed to boost the market

garrettod

Chancer3001 wrote: »

....Fresh money is needed to boost the market

That's very true, but the amount of negative publicity that the entire crypto currency world has been receiving in recent months, has scared people off.

Add to that the recent volatility in the markets and the significant losses incurred by newer investors, some of whom have probably crystalised their losses and left the market, then told everyone they know what a terrible experience they have had.

Then finally, there's the issue about how slowly cryptos are being adopted as a method of payment, for day to day transactions. The average "Joe Soap" probably thinks, eh sounded like a great idea when I heard about it 1-2 years ago, but it never seems to have taken off, so mustn't be any good.

The industry needs to be doing a lot more to inform the general public of the potential benefits of using cryptos, then start to evidence it for individual consumers, imho.

Dades

Chancer3001 wrote: »

Fresh money is needed to boost the market

So, new people to buy into magic beans and get the graph moving up?

That's a stark reality. As the thread title says, I've become a bit worried, even though I'm only in a bunch of alts now in case of a moonshot.

JohnnyFlash

Dades wrote: »

So, new people to buy into magic beans and get the graph moving up?

That's a stark reality. As the thread title says, I've become a bit worried, even though I'm only in a bunch of alts now in case of a moonshot.

The miners and the exchanges need to have fiat to buy new equipment, pay for electricity bills, pay staff etc. Where is that money in the crypto eco system? I’ve heard of otc and dark pools, but there must be very little liquidity at this stage, now that the frenzy of small punters loading up a few hundred quid into kraken and GDAX has dried up. That’s why I’d be worried ab0ut the exchanges that offer a fiat platform - surely they are a natural exit back out into ‘real money’? And the child porn and drug dealing sites have moved to a coin called minero according to coindesk.

lifeandtimes

Dades wrote: »

So, new people to buy into magic beans and get the graph moving up?

Magic beans? What are you on about?

If you are in on some alts I hope they are ones that can be used for transactions or it may just be a waste of time.

Some coins are fighting for real world usage and are currently being used.

Brad from ripple put out a good tweet today, he said sending 20 dollars internationally was pointless as it gets eaten up in fees, 50/c not even a chance. With cryptos you can send them internationally instantly free of charge to another wallet. No middle man.

Currently to send money internationally you need a bank account that you have to sign up for, provide documentation of identity and deposit funds etc and so does the person who wants to recieve the funds, them the transfer itself can take days, especially over weekends and then there's the cost of the transaction either there and then or in quarterly fees to your bank.

With cryptos there's none of that, you can download your wallet and send the coins instantly to the other wallet, not to mention no limits on withdrawals or payments

It just makes sense

Dades

lifeandtimes wrote: »

Currently to send money internationally you need a bank account that you have to sign up for, provide documentation of identity and deposit funds etc and so does the person who wants to recieve the funds, them the transfer itself can take days, especially over weekends and then there's the cost of the transaction either there and then or in quarterly fees to your bank.

With cryptos there's none of that

I had to provide documentation of identity on a couple of exchanges to even buy XRP, and deposit funds in one of them. Both the exchange and the wallet also take their cut on transactions.

I'm not saying crypto won't be a really handy way of transacting, but it ain't the free lunch people claim it is yet. And until it (or any crypto) cuts out the value swings it cannot be a serious replacement for currency.

grindle

Dades wrote: »

I'm not saying crypto won't be a really handy way of transacting, but it ain't the free lunch people claim it is yet. And until it (or any crypto) cuts out the value swings it cannot be a serious replacement for currency.

If it nears fiat-threatening stages (big big if) it will have reached it because people are transacting with it - not everybody is going to have to go to an exchange to buy it, a lot will have received it from people buying something from them. I've tipped crypto to many newbies who've never owned it on various subreddits and they'll only have to go the exchange route if they want to sell it.

The stabilisation is going to take a long long time to reach.

Bob24

garrettod wrote: »

The industry needs to be doing a lot more to inform the general public of the potential benefits of using cryptos, then start to evidence it for individual consumers, imho.

I think what’s needed it to show widespread practical uses.

JohnnyFlash

Dades wrote: »

So, new people to buy into magic beans and get the graph moving up?

That's a stark reality. As the thread title says, I've become a bit worried, even though I'm only in a bunch of alts now in case of a moonshot.

This.

The December money has dried up. It's gone. There's a huge amount of alt-coins that are out-and-out scams - Tron, Vechain, Walton, Dentacoin etc. Big talk about roadmaps, teams, and advisors, but it was always about getting people to send them ethereum so they could liquidate as soon as possible. That Litecoin dude was very clever.

There might well be companies exploring the use of blockchain technology, but this ICO thing was always a way of getting people to hand over money for nothing more than a fancy website and the promise of making a fortune. The coins they generated out of thin air gave you absolutely nothing only a chance to speculate during a pump and dump orchestrated on discord or telegram. Ponzi, pyramid, sweepstakes - whatever variation on that works for you.

There's obviously industries where the use of blockchain may become a reality. Banking, insurance, utilities. But even then there's the thinking that it remains a solution looking for a problem. And the Microsoft Azure or IBM hyperledger allows those industries to look at the genuine practicalities of its implementation, without having to wildly speculate on companies who felt an ICO (and HODL, Lambo, Moon) was the way to demonstrate their tech.

It's all going to collapse. Tether printing magical money to keep the price of bitcoin up isn't going to save it.

lifeandtimes

@johnnyflash

Can you provide some evidence that these coins are all scams and have no practice use at all?

Tether at the moment has a big question mark over it but as of last month there was an investigation done to say it may have enough reserve in a puerto Rican bank to back itself up (but as they can't be subpoenaed we can't find out) and yesterday they released 300 million tokens, I mean with all the criticism around them would they really want to be bringing more attention to themselves?

NB: I don't trade with tether as I've no need to too so ive no affiliation

smacl

Dades wrote: »

So, new people to buy into magic beans and get the graph moving up?

That's a stark reality. As the thread title says, I've become a bit worried, even though I'm only in a bunch of alts now in case of a moonshot.

I think this depends very much on the time frame you're looking at. As I see it, one of two things can happen. Firstly block chain disappears as a failed technology. Secondly it becomes established and provides genuine utility and hence value. If the second happens, new money will follow as a matter of course and with it no doubt further bubbles and busts. My guess is that the second will happen and the time frame will be a number of years at which point we'll be looking at new people and new money. Again, just reading tea leaves and a few tech articles, but I think block chain is going to take over physical asset management and can increase the market hugely if transaction costs become tiny. Cheap, fast and easy tracing of food and pharma products, proof of ownership of common goods that get stolen (e.g. phones, tools with serial numbers etc..) The list goes on, but the application for huge, decentralised, secure, open ledger style databases is enormous and goes well beyond payment and the financial arena. Also a guess as to which tech will succeed here, but the one which meets scalability, performance and cost requirements while being open, robust and proven across the widest number of use cases has to be a front runner. Of the current crop, this looks like ETH, and if we see a continuing decline, I for one will be buying back in.

unkel

smacl wrote: »

block chain is going to take over physical asset management and can increase the market hugely if transaction costs become tiny. Cheap, fast and easy tracing of food and pharma products, proof of ownership of common goods that get stolen (e.g. phones, tools with serial numbers etc..)

Good ideas. I'm off to work on some ICOs :pac:

garrettod

Bob24 wrote: »

I think what’s needed it to show widespread practical uses.

Agreed, and said much the same myself a few posts earlier.

I think part of the problem is that the businesses behind the crypto currencies have had it far to easy, with regards to accessing funds for investment. They have a concept, produce a white paper and a website, mention that they are having an ICO and the cash just rolls straight in..... they've not had to work particularly hard to convince and show people how good their product or service is etc. This probably needs to change, to get them back to showing people what they can do, not just telling potential investors about their dreams. Is it any wonder that there are more and more comparisons to the DotCom Bubble ?

lifeandtimes

garrettod wrote: »

Agreed, and said much the same myself a few posts earlier.

I think part of the problem is that the businesses behind the crypto currencies have had it far to easy, with regards to accessing funds for investment. They have a concept, produce a white paper and a website, mention that they are having an ICO and the cash just rolls straight in..... they've not had to work particularly hard to convince and show people how good their product or service is etc. This probably needs to change, to get them back to showing people what they can do, not just telling potential investors about their dreams. Is it any wonder that there are more and more comparisons to the DotCom Bubble ?

Very fair point.

As with most investment opportunities, prospective investors are shown the product working and what it can bring, icos dont really do that which is why they have been banned from social media etc, not because they are all dubious scams but because people can be really stupid and just put all their money into something with out reading up on it anbd in turn can then be scammed

Plenty of coins have real world potential, im involved in one that is starting to be used for minor transactions around the world in coffee shops, parking meters etc. Its replacing fiat as there is no fee involved not matter how small the transaction, you just use your phone to scan the qr code and boom the transaction is complete

lifeandtimes

https://news.sky.com/story/world-markets-sink-on-fears-of-trump-trade-war-11300262

Anyone else see this as possibly good for cryptos? I mean stocks are all about money flow, traders always need to make their money make them money and most people don’t know how to short or don’t want to bother so they’d more than likely jump back into the crypto market to wait out wall street which will ignite FOMO again.

Just a thought, would like to hear other opinions

asteroids over berlin

Oh dear god i am worried! More than half of my portfolio wiped out. lol - Not!. Expecting things to pick up pretty soon now in April, beginning of a bull run. The news is slowly turning more positive. Huge year for crypto - more so the latter 1/3 of the year but things should ramp up soon. Hodl and relax guys

* not financial advice!

Chancer3001

January - it's Chinese New year killing us be fine soon

February - clif high says end of Feb for bull run

March - oh sh1t ...maybe uh April will have it ? Or the end of the year ?

Dades

January: HODL!

March: Hodl...

March: hodl?

April: *looks down at empty hands*

lifeandtimes

Dades wrote: »

January: HODL!

March: Hodl...

March: hodl?

April: *looks down at empty hands*

May: Oh look, a little rise...

June: Hey this is looking good

July: Wow im better off than i was before, Time for a new funny hat

August: Hell yeah i can buy that car

September: "Sure id like to buy a new house"

October: "Sold for 100 million to the man with the funny hat"

annie.t

interesting news
https://www.bloomberg.com/news/articles/2018-03-23/the-world-s-biggest-cryptocurrency-exchange-is-moving-to-malta

Binance will soon start a “fiat-to-crypto exchange” on the European island nation, and is close to securing a deal with local banks that can provide access to deposits and withdrawals

banie01

I finally got around to pulling my Fiat deposits and crypto buys and sells together in a spreadsheet.
I had a handle on my total investment, but never got around to drilling down into my fundamentals.
So now I have my holdings broken out into Coins Held, Total Fiat, Average cost per coin.
It gives a better overview of where my break even/profit point is for coins with multiple buys.
I know its something i should have done months ago, but had a lot on until this week.
My total stake is currently at @breakeven so I am hopeful for the future.

That said, the markets do have me concerned. I read an article recently outlining that every Dollar invested in crypto, adds $50 to the market cap!
Given that USDT has added $2.3bln in liquidity to the markets by the articles logic it could account for up to 3rd of the actual current market cap!
Now I don't buy the extrapolation behind the thesis in the article, and now I cant even find the article itself.
But be it FUD or just poor maths, it does point to the impact the USDT issue will have unless it is resolved at some point.

Dades

lifeandtimes wrote: »

October: "Sold for 100 million to the man with the funny hat"

But here's hoping for another goldrush!

Anthracite

lifeandtimes wrote: »

https://news.sky.com/story/world-markets-sink-on-fears-of-trump-trade-war-11300262

Anyone else see this as possibly good for cryptos? I mean stocks are all about money flow

Stocks are about owning a stake in a business that generates profit for shareholders.

smacl

Anthracite wrote: »

Stocks are about owning a stake in a business that generates profit for shareholders.

I'd say that's shares more so than stocks. Stocks tend to refer to a portfolio of minor shareholdings in a range of companies and are something of a punt much like cryptos, albeit lower risk / return, where their value follows market trends.

ballyharpat

smacl wrote: »

I'd say that's shares more so than stocks. Stocks tend to refer to a portfolio of minor shareholdings in a range of companies and are something of a punt much like cryptos, albeit lower risk / return, where their value follows market trends.

Taken from your link "Bottom line, stocks and shares are the same thing. The minor distinction between stocks and shares is usually overlooked, and it has more to do with syntax than financial or legal accuracy."

I buy stocks of a company that is either formed or has a business model and a plan for it, I have had stocks thet rose ten fold, and some that pay dividends, as an investor, I cannot see where there is a correlation between stocks and Cryptocurrency. Some people are traders and may not 'invest' in a company, but would be closer to speculation, than investing. Of course, with all investments, their value may go up or down, but I don't buy 'penny stocks', which would be closer to crypto than Apple, I could not handle the volatility, or the way that even if a stock is doing very well that it's value would go down, while there have been companies like Enron etc, there are blue chip companies like KO/Coca Cola etc, that are a so;id investment, without a lot of volatility.

To each their own, but that's my idea of investing, and it's done well for me over the last 13/15 years.