Can someone explain to me why 2017 saw such a sharp increase of crypto currency prices? Were there any solid news or developments in the field? I'm seriously struggling to understand the logic of this asset. I mean the volatility in the last 30 days seems to indicate a reduced influx of new cash, which seems to indicate that the whole thing is, well, a bubble. Am I wrong?
I'm mainly an observer and it's unlikely I will put my money in this, because I don't understand it. However I'm still curious about the inner workings of this thing, because right now to my uneducated eye the whole crypto market seems to be backed on faith on perpetual ~10% a day growth.
This but not said like a retard. Stopped at nocoiner
Camden Morgan
Why? Don't you understand this stuff yourselves, or are you just choosing not to explain? I'm not criticizing you for owning this stuff, I'm just legitimately curious, as it makes no sense to me.
Easton Turner
Its the dot.com bubble 2.0. Just get the sick profits during the bubble, and hope you pick the google that survives.
Jose Harris
Kill yourself nocoining faggot. Take your FUD elsewhere.
Luke Sanders
This.
OP BTFO
Hudson White
So you essentially admit that the price is over inflated? I don't understand the hostility at all, I have no stake in this whatsoever, I was just hoping that people here are more literate on this subject than I am.
Jose Ramirez
shut up you are the reatard
Alexander Thomas
I don't either. People should be screaming from the roofs tops about this shit. Otherwise how are we going to get normies in and take their money. Bubbles need air.
Dylan Morris
Just buy the fucking dip and put it all on LTC.
Jace Turner
Because 2017 will be the year the global banking system will collapse.
Nathan Gray
Lol and what does that mean to Crypto, which has it's whole value based on fiat money? If and when the banking system collapses some lines of code on our software wallets aren't going to do much.
Dylan Turner
I cant explain it to someone as clueless as you. Someone else will have to take this one.
Hunter Williams
bitcoin (cryoto) is hard to explain to people who have a need to compare it to something else. There is nothing else like it. Why would the usd$ have value? It's backed by unplayable debt.
Luke Scott
we are in bubble while retards think its the new paradigm
Elijah Murphy
Perhaps it's true, but that still doesn't explain why the price increased so much in such a short span of time.
Carson Baker
It's actually both. The bubble will pop, but crypto will recover to greater heights than ever before
The price of most coins is depending from the Market capitalization and since publicity increased a lot in 2017 and more fiat money got pumped in crypto currencies the market and prices rised
Camden Flores
I hope it crashes soon. I cant afford to buy anything because all my currency is tied up in money!
Adam Parker
not quite-
Global banking system will adopt crypto and survive.
Wyatt Mitchell
>Were there any solid news or developments in the field?
Lots of new coins were created by people trying to jump in on the scam. They collectively advertised their coins more which brought more newcoiners into the market.
Jaxon Butler
That user doesn't mean crypto is crashing. He means traditional markets and investments are. For some reason, big money types are buying up cryptos.
Cooper Brown
I think they will try but fail. You simply dont need them anymore. Its also possible after the next crash people wont trust them anymore.
I know, that was my point. You have currency and money confused and think they mean the opposite of what they are. Crypto = money, fiat = currency.
Michael Cook
EEA
Adrian Carter
not 'solid' news, but journalism is mostly the reason for the price surge.
Tim Ferriss did a podcast on it recently and he's followed by almost every rich guy in America. Even before that, we had a bunch of articles about bitcoin and everything. Also, the economy went up again this year, so people are bleeding over into riskier investments.
Everyone knows it's a "bubble" and that's why everyone is so reluctant to do any math on this shit. The only analysis you will ever see for the value of a crypto are autism lines, as if you can trend a volatile asset with any accuracy.
But bubbles still make money for most people and it is safe to say that crypto, due to efficiency over how transactions are made and literally everything in this world is transactions, is going to grow. This year we made things a little faster (plus all the new retardcoins), but even more important was that nothing bad happened for a while. On any new tech, you price in the fact that first-time companies are going to fail. And shit did go wrong early on with bitcoin, people getting their shit stolen and everything. This current bubble pops when something goes wrong. Even if some retardcoin under ETH cashes out and goes missing, ETH and BTC prices will drop like a brick. But they'll recover unless an alternative comes around (again being new tech with priced in risk)
