Daily Crypto Nooooooz

[indiamikezulu]

Mass Adoption. Sigh

Looking back on the altcoin boom that sparked off in late 2013, it's clear now that the crypto communities were significantly populated by those with the skills to mine those emerging POWs, and a smattering of psycho whale guys, and a few libertarians like me. Mass adoption didn't happen; speculative trading did.

Now fast forward to the ICO boom that ended with the DAO collapse. Perhaps it soaked up folks who, for example, worked in IT, and had been watching the Bitcoin thing from the corner of their eye. What's clear in retrospect is that those newcomers had the skills to understand Ethereum.

Some ex-Wall-Streeters turned up at about this time, sparking the safe-haven thing (but not mass adoption).

Fast forward some more to, for example, the current newcomers' threads on Reddit, and the posts on the Uno and GRS Telegram channels. This time, it's clear that the newcomers lack even the most basic understanding of cryptos; and more disturbingly, seem to think that the communities will help them just enough to make them rich. Any sense of community seems to be quite lacking/we have a whole new round of pump-n-dumpers.

So again, no mass-adoption-of-crypto-as-currencies.

No complaints here from me. It will come. But stating the reality – that we remain stuck in the frenzied-spec-trading loop – may help us plan.

[indiamikezulu]

'Dont blindly hodl any coin take your profits or you will be left with bags of nothing . . . '

https://www.reddit.com/r/CryptoCurrency/comments/780qkl/vtc_trading_tip_for_fomoers/

A while ago, was trying to explain my notion of 'crypto value,' of a 'back stop.'

So, where do you 'go' with the profits?

Actually, many 'altcoiners' are really Bitcoiners who play the field in alts to make money to convert back to Bitcoin.

Oooooor, you think your alt is a better mouse trap, and although you may trade widely – I do; all us DLX guys do – we keep our 'value,' our 'crypto value,' significantly in our backstop coin.

[indiamikezulu]

'This year's stunning price increases fit all the hallmarks of a bubble. Still, many think it's different this time.'

http://crypto-trading.ch/could-bitcoins-bubble-lead-to-long-crypto-winter/

'a pullback of more than 20 percent will qualify as healthy correction and not a bear market as widely believed. (A drop of 20 percent or more is considered an entry into a bear market.)'

https://www.coindesk.com/prepping-for-a-pullback-bitcoin-price-drops-below-6000/


Going to have some fun this morning, answering the question: 'OMG if Big Crash, then what?'

Imagine you are the devs. You've been working hard for years. The price spikes. Then . . .

it's like watching people running screaming into a yoga class: 'I need to attain peace and enlightenment!!! Show me The Peace Position!! Quick!'

The thing to focus is not the dollar-price-per-unit of any crypto.

It's the number of units in the currency, and how many of those you hold, and can therefore trade.

Say what?

GRS's value won't be really getting into stride for another ten or fifteen years:

'The forces of decentralization are rising, but entrenched centralized institutions and the bureaucrats running them will become increasingly terrified, panicked and oppressive.' http://www.zerohedge.com/news/2017-10-23/if-you-want-understand-next-10-years-study-spain


So, what if Bitcoin's price dropped 50% tomorrow? Or 75% What if GRS's did?


The first thing to understand is how good it is to trade in times like these. First you get chaos, but then you get a hard solid bottom to the price. Check January, 2015 to August, 2015 here: https://coinmarketcap.com/currencies/bitcoin/#charts

Keep trading. You'll add maybe 5-7% to your stash each week. Even starting with a 100,000 GRS, that's about 25,000 a month. By Christmas, you have well over a third of a million. The following Christmas, you'll own 1% of GRS; you'll be an expert trader; nothing will panic you.

Do it with two or three other good cryptos.

(No geeks hold only one crypto, and it's silly to pretend we do. I hold DASH and ETH. And I trade a sweet little SHA 256 called 'Joule.' Trading multiple cryptos keeps you in touch with crypto news and tech developments. But read my lips, folks: GRS's dev team is extraordinary. Stay tuned to this channel!!)

In five years, you'll EASILY hold ten or twenty or thirty million UNITS of various cryptos. If they go to a buck each? Even fifty cents each? Even TEN cents each?

You buy land with water, and bullion, with half, and keep the other half to trade with.

[indiamikezulu]

https://upbit.com/exchange?code=CRIX.UPBIT.BTC-GRS

BAM!!

[jackielove4u]

And this is the KRW pair:
https://upbit.com/exchange?code=CRIX.UPBIT.KRW-GRS

Got it, Jackie! Won and Bitcoin pairs?! Sweeeet

[indiamikezulu]

'Since 2015, traders say Beijing has also used the "national team" - large state-backed companies including China Securities Finance Corp. and Central Huijin Asset Management - to help steady markets by buying shares when the market falls sharply and selling when it rises.'

http://www.zerohedge.com/news/2017-10-25/im-out-game-traders-abandon-china-national-team-kills-equity-market


Why do we care?

Imagine that there are only three players in the game: Governments, corporations, and cryptos. But Governments and corporations are becoming the same thing -- this Government-buys-companies-and-banks reality, campers, is going on all over the world! I wouldn't trust these guys to manage a parsley plant in a pot on the kitchen window sill.

Government bonds, corporate bonds, blah blah blah -- people will begin moving to cryptos.

[indiamikezulu]

https://www.reddit.com/r/CryptoCurrency/comments/78zuku/how_does_grs_compare_to_vtc_ltc_and_btc/

The infographic is fine.

[indiamikezulu]

Zimbabwean Adoption Project? Watch this space!

[indiamikezulu]

Been reading the enormous number of posts and comments about GRS that have appeared in recent days:

One: for the time being, let's just encourage every one to say 'GRS.'

Two: a make-over of the info on the devs would be time well spent.

Three: keep moving steadily forward, us: concentrating on the tech development is a fine strategy.

[indiamikezulu]

The Big Clumsy Government Push-Back

Both Kazakhstan and Viet Nam are lashing out at cryptos. But the list of other countries doing the same thing is a big clue to what's going on: Columbia, Nigeria, Venezuela, Bangladesh.

The world is decentralizing, which really means coming apart at the seams; and poor authoritarian nations – Kazakhstan, Viet Nam, Columbia, Nigeria, Venezuela, Bangladesh – will act first and in the clumsiest way against the weakening of their powerbases. (Fiat currencies are the instrument of tax-revenue collection. Cryptos threaten those fiats.)

But despite what the doom-mongers believe – 'Guvvamint will just shut them cryptos down!!' – there will be An Opposite Side, the governments and social forces acting against centralization both in respect of cryptos and in respect of everything else.

Look at how quickly the Basques chimed in on the Catalonian issue. Look at how fast anti-Eurozone governments are being elected across Europe.

Now we must segue: the friendly-towards-cryptos countries fall into two categories: those who want to/think they can regulate cryptos, and those which are just gonna let technology take its (free market) course.

'These measures ensure there is nowhere for criminals to hide," said Australia's Minister for Justice Michael Keenan in a press release.'

https://www.cnbc.com/2017/08/17/bitcoin-faces-regulations-crackdown-by-asia-pacific-country.html

Those who think they can regulate will fail. Australia's premier KYC/AML body, for instance, knows nothing about cryptos:

'Bitcoins . . . are issued by commercial enterprises' http://www.austrac.gov.au/typologies-2012-typologies

Those prepared to 'ride the wave' – Singapore comes to mind – will do best, drawing capital and talent from the anti-crypto nations.

And, as economic conditions worsen, more and more 'ordinary people' will feel justified to circumvent unwieldy and ineffective Government regulations anyway.

Let's see what happens next!

[indiamikezulu]

Best crypto article I've read this year: http://www.zerohedge.com/news/2017-10-30/japan-just-killed-bitcoin-will-be-banned-meme

[indiamikezulu]

Hmmm . . . it seems that several posts have gone missing. No matter.

The HF

Please post HF data here.

Today: https://www.reddit.com/r/CryptoMarkets/comments/7atjmy/november_btc_fork_the_facts/

And: https://www.coindesk.com/bitcoin-bitcoin2x-news-guides-navigate-novembers-fork/

[indiamikezulu]

Cross-post from the DLX:

HF Bulletin Seven:        hostile-takeover-article anti seg wit2 because sees Garzik/NYA as centralists. Predicts failure of SW2                                   This — https://www.coindesk.com/bitcoin-bitcoin2x-news-guides-navigate-novembers-fork/ — has four inset articles. (I said above just one.) Reading it now.                                                             This is from 'Inset-Article Number Two: 'the contributors to bitcoin's open-source code are optimistic for a simple reason: they don't think Segwit2x will succeed in its attempt to become the main bitcoin blockchain.'                                Heck, this should of course be part of the data: https://coinmarketcap.com/currencies/segwit2x/#markets                                              At this second, this has my attention (see quotations above): https://www.reddit.com/r/CryptoMarkets/comments/7atjmy/november_btc_fork_the_facts/                       And next is Craig's contribution: https://www.yours.org/content/predicting-the-outcome-of-the-november-bitcoin-fork-89914ce0e1f5/

[indiamikezulu]

https://icodaily.net/2017/11/06/why-segwit2x-is-bound-to-fail/

[indiamikezulu]

https://news.bitcoin.com/fork-watch-the-chain-with-less-hashrate-could-come-to-a-screeching-halt/