ESOC Crypto Corner

[spanky4ever]

normal currency have safety in tax payers future payments. Crypot have zero. Untill there is a "real" eco behind it, it will bounce up and down (my guess). How can crypto get some real value behind the currency?

[spanky4ever]

but tbo, this is going so fast, and so BIG, I would not have seen it, or- tell it! (witch spanky)

[gh0st]

just one question: why do the crypto value vary so much? If there are so many computers monitoring it, and validating it, why the huge ups and downs? I mean, if it where more solid, I could find it interesting. As it is now, its just rushing down to nothingness, and rising like fenix!

Well, there are lots of factors which cause so much volatility.
The technology behind crypto is still extremely new and misunderstood, and that’s a big part of why its value is so hard to pin down. Also, most of the bitcoin in the world is owned by a tiny group of people. As of late 2017, about 95 % of the cryptocurrency was owned by just over 4% of people with bitcoin. That means that a single person could decide to release huge amounts of bitcoin into the market at any moment, completely upending its value.
Also, the price of bitcoin can also change drastically as countries and financial institutions adapt to the idea of cryptocurrency. For exp, when one of South Korea’s biggest banks tested out the technology it caused a spike in value. Also, when China announced plans to crack down on Initial Coin Offerings (ICOs) the value of bitcoin dropped, and the same thing happened when a South Korean govt official said the country might ban cryptocurrencies altogether.
Another factor is unlike other types of investments, like stocks or gold, bitcoin trading never stops, either. There are no market hours. Instead, you get non-stop 24/7 trading, which means even more volume and fluctuations in bitcoin’s value.

[Snuden]

normal currency have safety in tax payers future payments. Crypot have zero. Untill there is a "real" eco behind it, it will bounce up and down (my guess). How can crypto get some real value behind the currency?

As have been explained MANY times in this thread, may of the coins are still having the actual product developed.
Now you basically buy the coins based on tweets, white papers and rumors.

[spanky4ever]

@gh0st so if every EU and US country did the same as China - the crypto are gone? I could emagine something like that happen in the future. Crypto are a big threath if it grow big enough

[spanky4ever]

sorry @Snuden we are on to the basics again

[Snuden]

Uhm... The basics?

[spanky4ever]

Uhm... The basics?

the basics, are the real things we just watched a real crasch, after the crypto surges like nothing you ever seen before (almost)

[Snuden]

Uhm... The basics?

the basics, are the real things we just watched a real crach, after the crypto surges like nothing you ever seen before (almost)

NO, BTC have crashed like that 6-7 times before.

[spanky4ever]

yeah right @Snuden so why should we trust it? that is the only question Im raising here? who are investing, and what are there any safety?

[spanky4ever]

if I where to have 20 000 dollars to invest, should i place it in Cryptos?

[Snuden]

No. Forget you ever heard of Crypto (and this thread)

[spanky4ever]

No. Forget you ever heard of Crypto (and this thread)

oh my, cannot forget what you already learned, cannot undo what you already
evolved

[spanky4ever]

I will leave you in peace though, have fun snuden

[Snuden]

I will leave you in peace though, have fun snuden

Thank you.

[Goodspeed]

if I where to have X dollars to invest, should i place it in Cryptos?

Would you be fine if the money disappeared tomorrow?
Btw it's unwise to mention how much money you have invested or plan to invest. Hackers might notice and target you. Many crypto discords have actually banned the mention of amounts for this reason.

[fightinfrenchman]

Don't invest any money in crypto unless you're okay losing it all. It's more akin to gambling than investing

[Gendarme]

You should probably stay away from crypto for now, Spanky. You'll likely end up listening to Mart, buy XRP, and lose it all.

[spanky4ever]

thank you for your kind advides @Goodspeed and @Gendarme I dont have that kind of money anyways

[Gendarme]

$9,000 hypeuuuuu

$10,000 hypeuuuuu

$11,000 hypeuuuuu

[Snuden]

I'll be on the blockchain if anybody needs me. Thanks.

[Snuden]

@jesus3
https://jesuscoin.network/

Congrats on your coin!

[deleted_user]

Luther and the Protestant Reformation are not pleased!

[Snuden]

Neither is the church of Satan!

[Gendarme]

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