At the end of 2017 BTC jumped to $20k. Then it proceeded to pull all the way back to $3k. And then sat there for a couple years below $10k before it decided to jump to over $60k. It would not surprise me if it pulled back down to $10k or worse.
My belief is that BTC is about to lose its crown. Its time at the top is over. It will just take some time for it to sink in. The energy usage aspect will gradually become its downfall.
Crypto is around to stay purely for the blockchain technology. The platform that creates a truly valuable use of the blockchain will win overall. The value of the coin on top of that will just be along for the ride. Chia has a very strong foundation and team. I’m excited to be here early.
Outlawing FIAT exchange of Crypto may be as problematic for FIAT. The point of currency is that you use it to buy things. The government shouldn’t regulate whether I spend it on electricity or stamp collecting. I can buy straw if I want to at any price I choose. The idea of banning the use of FIAT to buy a commodity undermines the very nature of FIAT. Regulation and taxation is preferable to governments than banning. Just my personal view.
The people who say crypto run by the date on a calendar? Seriously? Because x happened 2 years ago, this year x will happen again. Just like clockwork!? Ethereum is going POS. That’s new if it happens. War happened. Pandemic happened. Global markets dictate how BTC goes, not the date on the calendar. Sure when crypto was nothingburger maybe it was as simplistic as checking the calendar and investing on that basis. Sounds like a pretty dumb suggestion to me but hey, OGs know it all. They have the best calendars. Yeah I get halving and that event. Show me where BTC doesn’t mimic global markets. That’s a thing believe it or not. Imagine if investments were as simple as dates on a calendar. Laughable.
Crypto is extremely cyclical and there is a long history that you can investigate yourself. The magic is you don’t have to believe anyone using this method.
Crypto was nothingburger in the years you reference. BTC follows global markets at this point. Those certainly don’t follow a calendar. And all other crypto follows what BTC does. This isn’t complicated actually. Many OGs I listen to want to treat crypto like it was in its infancy. Oh well. I give them credit. They know mining. Financials? Maybe not.
It goes back to new ATH because it is a snowball game! First start, the lastone catches the dogs. I hope CHIA will implement more usefull worklfow in there code.
