Why is Bitcoin dumping?

[Anonymous No.12142384]

There are a mountain of reasons but the most important is the same reason it was worth so much in the first place.
BTC derives its value in a speculative market from being the trading pair. The highest volume currently adopted usage for BTC is speculating on shitcoins.
Not only is the speculation phase over, but Exchanges are rushing to implement Fiat style pairs and volume is slowly bleeding out.
The next bull will involve BTC, but not like it did before.
Pick some real winners that you think will have actual adoption once their development goals are met.
Whatever you do , do not buy now. We are nowhere near the bottom. The bottom will be when at least 90% of these scam exchanges wash trading close their doors.

[Anonymous No.12142416]

>>12142384
BTC is the market index. Too entrenched. More wealth will be required to unpeg it than it would be to just accept it as the peg.

[Anonymous No.12142442]

>>12142416
You think it will still be the market Index when it is worth 3 digits and some other technology is being rapidly adopted by silicon valley for a decentralized immutable smart ledger? Or decentralized massively distributed nearly impossible to knock offline compute for pennies on the dollar of other centralized solutions?

[Anonymous No.12142451]

>>12142442
What you see as weakness, others see as strengths. The slight lag in liquidity and cost of dumping, as well as the limited supply, support the notion of BTC being the market index. I realize it can still dump rapidly, but think about how rapidly you could lose your ass if It were something else. You think this market would even still exist? That’s naive.

[Anonymous No.12142472]

>>12142416
>Too entrenched.

no such thing. New technology will always supplant old

[Anonymous No.12142476]

>>12142472
Are we talking only about technology. My bad, I thought we were talking about money.

[Anonymous No.12142482]

>>12142476

Even if that made sense, which it doesn't, reserve currencies are often replaced. Stay in your brain-range IQlet

[Anonymous No.12142522]

>>12142482
>often

Are you out of your mind or just retarded? Also, are you and the rest of the world still using oil? That is so 2007. Kek

[Anonymous No.12142526]

>>12142384
cus

[Anonymous No.12142537]

>>12142482
Anon makes valid points, the logic fallacy is in thinking that the current market conditions are universal and immutable.
When it comes to technology as an industry particularly software, what takes decades in other classic industries is accelerated by an unknown multiplier. For shit like computers and the Internet former market leaders that were too big to fail would swiftly fail and be replaced by something better.

[Anonymous No.12142575]

>>12142537
I don’t disagree that technology and companies are dethroned over night. What I disagree with is the notion that reserve currencies get replaced all the time, that temporal dominance, and that certain inefficiencies aren’t all considered very important in regard to the growth and sustenance an entirely new financial market. No big investment firm wants to dump a chunk into internet meme money while the shit can drop to zero in no time bc of muh technology. The only way I’ve seen others looking to combat that is by having an enormous supply, and that will take ages to distribute. All the while, BTC is still there, with power over them.

[Anonymous No.12142595]

>thinking markets rationally adjust themselves

Don’t overlook the boomer factor when the institutions think crypto is the same as bitcoin and don’t know what any of the other ones are

[Anonymous No.12142605]

>>12142575

Bitcoin has no power over anything. It was convenient at first and had first mover advantage. That's it.

it can't scale and nobody cares about 18 months away(tm) lightning network

[Anonymous No.12142644]

>>12142605
Nothing you say matters. In a year, I’ll still be right and you’ll still be wrong.

[Anonymous No.12142675]

>>12142644

screencapped. see you in a year

[Anonymous No.12142693]

>>12142675
I’ll be waiting