[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 40 KB, 500x484, 1406111371874.jpg [View same] [iqdb] [saucenao] [google]
7888784 No.7888784 [Reply] [Original]

why did crypto die?
I want reasonable, factual answers. What happened?

>> No.7888803

Because disgusting normies and bankers came in, and it wasn't about building a new monetary system anymore, but about making money shorting.

>> No.7888817

>>7888784
normies

that is all

>> No.7888832

>>7888784
it didn't die and your usage of loaded questions is obnoxious

>> No.7888842

It didn't die, it's just knocked out for some months.

>> No.7888843

market cap was 420 like an hour ago now it's 426

earlier today it was like 480 and back during the january crash it got dwn to 350 range i think

>> No.7888854

Kike bankers saw it as a threat so they bet on it throug futures contracts nd will manipulate the price from here on out

>> No.7888863

it died to purge weakfags like you who don't know this is a cycle that's been repeated 5 or 6 times now

>> No.7888921

>>7888863
It's funny I am actually very calm in a bear market. When things rally hard I get very freaked out.

>> No.7888958

>>7888784
You can find your answer by thinking about this illustration:

My professor bought his house in the middle of the housing boom right before the recession, because he just needed a house for his family and didn't care about the prices. A couple years later he sold it for $20,000. He sold it because his friend recently sold his house, and when he asked his friend about it, he said that he sold it to a doctor who lives in California and won't ever see the house in person. The doctor wanted the house to sit empty. The doctor bought it at the peak of a boom because he wanted to flip it later on. I think it's the Big Short that my professor quoted when he said "We don't build houses for people to not live in, something's wrong here."

It's kind of like that. We don't make currency that no one spends. We especially don't make currency that can't even scale to the volume of a medium-sized supermarket.

>> No.7889019

>>7888958
>sold it for $20,000
sold it for a $20,000 profit, I mean.

>> No.7889067

Someone injected like 500 bill then market sold exactly a month later

>> No.7889083
File: 58 KB, 1168x407, Screen Shot 2018-02-23 at 04.12.58.png [View same] [iqdb] [saucenao] [google]
7889083

It's a typical bubble in hindsight.

>> No.7889161
File: 1.75 MB, 1200x800, BITFAGS BTFO.png [View same] [iqdb] [saucenao] [google]
7889161

>>7888784
because shitty gippo currencies are gay as fuck and you and everyone else that invested in them deserve to die poor and alone

>> No.7889222

Weird af but I dont really care if it goes to zero. If it does I'll just buy more desu. I'm pretty chill, it'll be fine. If it never recover then fuck it, I tried and that's why I can be at peace with myself. Better to fail than to wonder my entire life: "what if I had invest?"

Everything will be ok my bizraelis

>> No.7889258

>>7889222
i just bought in a couple days ago and its dropped 2 grand wtf am i gonna do?

>> No.7889264

>>7888784
>muh internet currency
In all seriousness, it was the normans. It's always the normans. They ruin everything that is good.

>> No.7889279

A year ago it was less than $1,000. Holy fuck you guys are retarded.

>> No.7889286

>>7888784
die???
Ripple was at $0.33 last August and is now going for around a dollar

>> No.7889330

>>7888784
i just realized the entire worth of every shitcoin is more than the possible amount of currency in existence...how the fuck this supposed to end well fuck

>> No.7889348
File: 169 KB, 650x400, 36dafgjuqa.jpg [View same] [iqdb] [saucenao] [google]
7889348

>>7888784
is this your first crash newfag? sell all crypto and never buy back. you are too much of a weak handed pussy ass bitch if you think this is the end. no get the fuck outta here.

>> No.7889354
File: 50 KB, 645x729, 1505703207273.png [View same] [iqdb] [saucenao] [google]
7889354

>>7889330

>> No.7889362

>>7889286
It was less than a penny at the beginning of the year, if I recall correctly. Almost went up to $4 too. Crypto isn't dead, but the pointless pajeetcoins will get weeded out. Only utility tokens with real world purposes will survive. Ethereum will continue to face scaling issues, and Bitcoin as well. Those are two giants, so it's uncertain what will happen to them, but they must adapt or they will die. The others that don't serve a purpose though, will die.

>> No.7889381

>>7889083
Bubbles don't last 2 months.

>> No.7889422
File: 3 KB, 110x125, 1518237339495s.jpg [View same] [iqdb] [saucenao] [google]
7889422

>>7889330
natural selection is going to catch up with you soon retard.

>> No.7889433

>>7889362
if you invest outside of the top 10 you've been shorthanded when it comes to the IQ points

>> No.7889468

>>7889330
The entire crypto market cap is actually smaller than one large corporation.

>> No.7889559

>>7889468
Yeah well google apple msft all do a great service to people while crypto doesn't. Like almost 0. Even the best like xrp have very little use for the masses.

>> No.7889622

>>7888784
Normal people don't care about crypto.

>> No.7889677
File: 19 KB, 703x911, 253616wfdhj.png [View same] [iqdb] [saucenao] [google]
7889677

>>7889559
does it hurt being as retarded as you?

>> No.7889691

>>7888784
Too difficult for normies to use. The notion of a global crypto currency makes me laugh every single time – how do you expect a 95-year-old grandma to install her own wallet and manage the private keys?

>> No.7889708
File: 98 KB, 512x512, 1518374851975.jpg [View same] [iqdb] [saucenao] [google]
7889708

>>7888784
oh did it go to 0 and all the infrastructure just disappear?

>> No.7889724

>>7888958
pretty good analogy desu.

>> No.7889756

This shit is going to 20 trillion by 2020 and if you aren’t on board you’re a big ol dummy

>> No.7889770
File: 56 KB, 470x626, cripple.jpg [View same] [iqdb] [saucenao] [google]
7889770

>>7889559

>> No.7889776

>>7889691
Honestly, I don't think that'll be the hard part. I think if we can get the consensus algorithms and scaling issues solved, creating simple interfaces for grandma to use won't be too much of a hurdle. A global crypto currency? No way. We don't even do global fiat currencies. But I could see us making it easier for normies. I mean, we have to at some point, right?

>> No.7889788

>>7889559
>even the best like XRP
kek

>> No.7889859

>>7889776
Even so, the government will regulate this theoretical crypto through and through to the point where it won't look like anything sensible. If I were to imagine a dystopian currency of the future, a government-controlled crypto would be it: 100% tracking for life.

>> No.7889870

>>7889433
I'm going to look forward to your pink wojaks when some of the current top 10 get dethroned by coins not even in the top 100 right now

>> No.7890019
File: 5 KB, 255x198, 7uyu3.png [View same] [iqdb] [saucenao] [google]
7890019

>>7889559
>Even the best like xrp

>> No.7890083
File: 87 KB, 645x773, brainlet.png [View same] [iqdb] [saucenao] [google]
7890083

>>7889330
Pic relevant. It's you.

>> No.7890852

>>7889859

I have a feeling that's what it's going to come down to a decade down the line, hopefully I'll be able to make enough in the mean time to keep as many of their tendrils out as possible.

>> No.7890873

20 trillion by 2020

>> No.7890897

>>7888843
market cap is 434 right now

almost 10 billion has been invested into crypto since you made this thread, OP

>> No.7891086

>>7888888
It's only February Anon

>> No.7891471

>>7890897
you really dont know what are you talking abouy

>> No.7891516

>>7888784
because less people want it
selling drives price down, basic econ m8

why less people want it? fuck if i know

>> No.7891641

>>7888921
I am calm in this bear market. Overjoyed in fact. That means I can buy on the dip and save up for a potential investment that will grow in the future. Remember what Warren Buffet said anons:
>the stock market is an instrument to transfer wealth from the impatient to the patient.

>> No.7891651

>>7888784
It was just a fad.

>> No.7891658
File: 415 KB, 1732x1155, 1504922228478.jpg [View same] [iqdb] [saucenao] [google]
7891658

>>7889330
Dude what

>> No.7891682

>>7891471
could u correct me thnx

>> No.7892416

>>7891641
this

it might not be possible to turn into a millionaire by throwing a few hundred/thousand at btc and eth anymore but people who find and put money behind coins and tokens that end up having actual uses will make a killing

>> No.7892450

>>7891682
Total MC not equal to invested money braw

>> No.7892469
File: 208 KB, 423x395, 9.jpg [View same] [iqdb] [saucenao] [google]
7892469

>Why did crypto die?

>> No.7892499

>>7888784
I'd been here since '16.
And this cycle feels off.
Along with the Stock market coincidentally

>>7892469
Well, there was never any real value, is there?

>> No.7892552

>>7892450
Some genius anon pointed this out to me and I have seen the light

>> No.7892595
File: 42 KB, 780x439, 151001111029-bear-stocks-markets-780x439.jpg [View same] [iqdb] [saucenao] [google]
7892595

Bearfag here to lay it down ... the truth
BTC has found its spot, 9.5k to 10.5k
This is the spot it is comfy in, when ever it tries to go lower than 9 bulls instantly panic and buy loads of btc at market price to save it
When ever it goes over 10 bears panic and dump massive amounts to bring the price down before it climbs too high

Thus meaning.... if BTC has found its price point crypto .... is dead. If BTC isn't mooning like Nov then random coins can't get their 10x pumps. As soon as BTC shits the bed it'll stop any alt moon in its tracks and bring it back down. That and the fact that the bubble popped, now BTC will just rally back and forth till it finally gets forgotten about.

Only a few lucky alt coins that have future use cases will survive, 99% of all other coins will slowly drift to nothing. People are waking up to the fact that the world is working fine how it is. Banks WONT let fake meme money take over as the main currency no matter how bad you want it to.

TLDR..... BTC has found it's price point
Crypto is slowly dying off because like all bubbles it has popped

We will be lucky as all hell for it to go on a parabolic moon again, News and Media have already covered it to all hell. People that wanted to get in.... got in and got burned. People that are lazy pieces of shit that didn't care about it now... won't care about it in the future.

>> No.7893348

>>7888784
A better question is why did it ever blow up?

>> No.7893537

It was much smaller than it is currently for the vast majority of its lifespan. It's going to go a lot lower as the bubble continues to deflate. It's more interesting to me what caused the bubble to inflate in the first place, the massive blow up seemingly came from no where.

>> No.7893628
File: 748 KB, 2734x1072, Screen Shot 2018-02-23 at 3.09.53 AM.png [View same] [iqdb] [saucenao] [google]
7893628

the 5 types of /biz/nessmen

>> No.7893822

>>7892416
Which ones have actually uses though?

>> No.7893963

>>7893822
I think it's too soon to say since a lot of them are still in development

>> No.7894008

>>7893822
None of them have any use besides extracting money from gullible fools.

>> No.7894024

>>7889258
depends on your timeframe m8
did you buy to flip some quick cash?
if so you fucked up
did you buy because you think its going to go up in the long run?
if so why worry about short term prices

>> No.7894030

>>7893537
Yes put in of course it won’t break records again this year

>> No.7894035

>>7888784
>bitcoin still up 200% from like 6month ago
>crypto died

>> No.7894053

>>7888784

flew too close to the sun on wings made of wax

>> No.7894093

>>7888854
This, the market is now completely in likes control and there's no way likes will ever let normal fags gain anything.

>> No.7894101

>>7892499

Exactly. We are still at a point where there is no real value. Nothing even remotely considered as real world usage. No adotion.

And yet people think this was it. This was the end of crypto.

Well brainlets gonna brainlet. We are the early adopters. You know billion dollar companies wouldn't get involved with vaporwaves. That's not how they became billion dollar companies.

The bull run is going to be insane in ~2020 when blockchain technology has been adopted to real world use and market cap is worth several trillions.

>> No.7894105

>>7894093
*kikes

>> No.7894122
File: 9 KB, 261x216, coffee.jpg [View same] [iqdb] [saucenao] [google]
7894122

>>7888784
I think as BTC is getting bigger, the dips and pumps will become bigger and more drawn out as well. What lasted 1 months tops last year will be 3-6 months this year, and even more later. Probably will top out somewhere around 1 year cycles but maybe not. But I think this is the trend we're in.

>> No.7894197

>>7889222
Seem like lotteries are for you.

>> No.7894269

>>7888784
Because btc is worthless just like the neets "investing" in it

>> No.7894343

The world needs bitconnect so normies invest more into bitcoin. ¯\_(ツ)_/¯