A ‘crypto winter’ freezes hiring at Coinbase and Gemini

[Overnight]

Examining history, that's not bold at all, it's a fact that has never faltered. And BTC has gone through far, far, larger draw-downs than what 2022 has done so far. Every time it happens, the perma-bears all come out of the wood-work to make statements. Then they miss all the exponential gains on the next 3-year horizon.

So what you are saying is that there is a permanent higher-low, higher-high on a 3 year timeframe on BTC. I still think that is bold. If your charts bear that out as true, then it is what it is. But will it maintain that trajectory?

Even stocks get into a tailspin that lasts for years and years. Ug.

 

[johnarb]

So who is manipulating the price? Seem like a penny stock pump and dump. Who is making the money besides the miners and the exchanges?

Why is 3 years the magic number? Does it take that long to come up with a new batch of greater fools?

Isn't there a concern that something new might come up and bitcoin will just become another example of a fad that cost a lot of people their hard earned cash?

Everything you said is related to the current situation of the global stock market and economy in general

the Fed is raising rates and removing liquidity, thus all risk assets kaput

But if something breaks, another (monkey pox or covid) pandemic which requires lockdowns and stimulus for everyone, or China invading Taiwan, or Russia using (limited) nuclear, may force the Fed to reverse actions and happy days again

The length of time is partly related to block rewards halving of Bitcoin every 4 years, but the next one is not as dramatic to the supply, but I think it's mostly related to build-out process of the projects, in 2017 ICO boom, in 2020, L1 and other smart contract blockchains and defi boom

If you're talking about Bitcoin being replaced, sure, go ahead

 

[deaddog]

Everything you said is related to the current situation of the global stock market and economy in general

the Fed is raising rates and removing liquidity, thus all risk assets kaput

Why does that affect bitcoin? Isn't part of the appeal of bitcoin that it won't be affected by governments?

 

[johnarb]

Why does that affect bitcoin? Isn't part of the appeal of bitcoin that it won't be affected by governments?

Tell me about it. Same investors in tech stocks are also invested in BTC and cryptos, and they are all selling everything, some because of margin calls, others because of fears and wanna go to cash and sidelines

 

[deaddog]

The length of time is partly related to block rewards halving of Bitcoin every 4 years, but the next one is not as dramatic to the supply, but I think it's mostly related to build-out process of the projects, in 2017 ICO boom, in 2020, L1 and other smart contract blockchains and defi boom

From what I understand there isn't that much more bitcoin to be mined until we reach the max.
Then the miners will just record transactions and recieve fees for their effort.
What will cause the value to increase? Just the fact that it's rare?

Right now investors are pouring money into bitcoin but in reality there is nothing there except a digital token whos only value is whatever someone else is willing to pay for it. With just about any other commodity if the value goes to zero I can use it for a doorstop.

 

[johnarb]

From what I understand there isn't that much more bitcoin to be mined until we reach the max.
Then the miners will just record transactions and recieve fees for their effort.
What will cause the value to increase? Just the fact that it's rare?

Right now investors are pouring money into bitcoin but in reality there is nothing there except a digital token whos only value is whatever someone else is willing to pay for it. With just about any other commodity if the value goes to zero I can use it for a doorstop.

Read the book "The Bitcoin Standard" and "Layered Money" and you won't have to worry about doorstops

Well, I'm so glad the value of Bitcoin is not up to you

https://coinmarketcap.com/currencies/bitcoin/markets/

 

[deaddog]

Well, I'm so glad the value of Bitcoin is not up to you

https://coinmarketcap.com/currencies/bitcoin/markets/

But what makes it worth that price? What someone else is willing to pay for it.

Why are the exchanges spending millions on ads and naming rights for stadiums. My guess is to find more fools. Gotta remeber that these markets are not set up for investors to make money they are set up for the people who run the markets to make money.

 

[johnarb]

But what makes it worth that price? What someone else is willing to pay for it.

Why are the exchanges spending millions on ads and naming rights for stadiums. My guess is to find more fools. Gotta remeber that these markets are not set up for investors to make money they are set up for the people who run the markets to make money.

Read the book "The Bitcoin Standard" and "Layered Money" and you will understand the value of Bitcoin

 

[formikatrading]

Read anything about financial manias and you will understand where bitcoin fits in.

Read the book "The Bitcoin Standard" and "Layered Money" and you will understand the value of Bitcoin

 

[The_Krakenite]

Isn't there a concern that something new might come up-

I'm not sure that's a concern, but a benefit.

ETH spawned off as a better improvement of BTC.

From there we got the entire DeFi system built...

And from DeFi we had all sorts of newer things come along, from the first DAO to NFTs, etc. At the current rate of development, it's hard to predict what new structures from DeFi will spawn forth a year from now.