Not at all. I knew this is comin'. Knew long ago. Many years ago.
All our present comments will be very funny to read at Christmas- 2018 time. Mark my words. :)
Every new technology takes time to mature, and adoption is always running by the same "S" type curve. Always.
And many exciting things and times are waiting for us along that curve
Totally unreal! I love it lol
We blew through 10k like it was nothing. We have been blowing through bottle necks for the last 6 months. We had originally thought 5k would be the mark for end of year now we are looking at 13-15k end of year.
When markets are understood, the idea that everyone can make money is not only inaccurate but impossible and laughable. Everyone making money means there is no market, because who would be taking the other side of the trade?
It is no mistake that individuals begin to like the same sorts of fashions that everyone is wearing. In a quest to change, the majority of society ends up changing together, moving towards similar desires and away from similar dislikes. Therefore, what the market is offering provides the exact thing that will lure the trader into the crowd.
For example, someone who has little experience investing wants to get involved because everyone else in their social circle is, ads are all over tv and even their nightly newscasters are talking a lot more about how the market is so good. In this environment you can be certain there will be lots of “helping hands” to welcome this investor to the crowd, teach them to be a part of the crowd and initiate them into the world of the blind leading the blind.
The market is unlikely to reverse to any significant degree until almost everyone is on one side. Which means almost everyone who joined that party late is going to lose. A bunch of people may just decide to wait, but so will the market. And if people are divided then the market will move in a ranging fashion.
People are the catalyst and without people to create an extreme the market won’t hit an extreme and reverse–remember the market does not act on its own, we…the people… are the market. In other words, the boom and bust cycles will not end. We progress and regress and then progress again.
Until almost everyone is in the trend, it won’t stop. The trend will keep going, enticing more people in, and when it reaches critical mass (which it can’t do without pretty much everyone on board) a reversal occurs. This change in fortune (for the worse) causes concern and then panic as a full reversal occurs. And as the mood of society continues to grow darker people feel more hopeless and give up fanciful notions of making money with crypto and so it will continue to drop.
In other words, the very thing which lures people in droves (big returns) ironically means that most of those people will be on the losing end of that exchange. In another ironic twist, when people clamor into the market all at once out of greed and a belief that a new era has begun, they bring about the exact opposite. @pawsdog
If we're talking specifically about speculative investors only, then your words hold true. Most markets aren't driven by a zero-sum game like you're illustrating here. They are a function of value creation and the exchange of that created value. In these kinds of value-creating exchanges, more wealth exists in the world after the transaction is completed. I think what we're seeing in the BTC trades now is a residual effect of the extreme levels of value that BTC brought to the table in the first place. We haven't reached saturation yet, so the zero sum game hasn't started yet, in which BTC becomes just a simple ledger and a great store of value.
It does seem to be playing out, but this is not the big pullback.. this is nothing yet.. just an precursor of whats to come, a nice Bull Trap perhaps but on the small scale. Market is very very top heavy at the moment and we need some blood letting to put things back in perspective @pawsdog
I could also see this as the mythical whales testing the floor. Regardless I would see it as a warning sign to GTFO for a bit.. unless you are very experienced and want to play 15 or 30 minutes swings, or just like to gamble.
Yes yes yes! I've been explaining it to people like this, think of it as a transition away from central banking and making it more accessible to the public. By using cryptocurrency and the blockchain, you can essentially be your own bank, lawyer and accountant with little effort. That kind of grabs peoples attention. It's a huge idea. It's world changing. And it is damn exciting to watch! Excellent video man, I feel the same as you today, time to celebrate!
i would like it to go down abit before i step in. But it feels like i am standing on the edge of a swimmingpool not daring to jump. ! That is just because i do not understand how to buy and sell. I am watching and have watched your videos, but i need someone to hold my hand while instooling a wallet or how that is called. But is indeed so exciting ! since i am on steemit a bit longer than a month now it nearly doubled ! wow.
You are right, and I actually think it is a little worrisome. On this rocket ride, we are forgetting essentials and other values (like sleep). Wealth is only euphoric for those that experience it. Will it be shared this time? Doubt it.
This is an amazing, exciting time to be alive. We're part of something significant to human history right now.
Couldn't agree more. I think I've finally convinced my first friend to check out crypto and steemit. He at least seemed interested for the first time since talking about crypto for the past year.
Ideas are bulletproof you can vilify it, try to hide it, deny it and even suppress it. But ideas are like a small match, lit and dropped into a dry bush during a windy evening, it usually starts small, then it escalates that even a thousand firemen would not be able to stop it. Go bitcoin.
You summarized it very well. The idea is what made it so special and has given it such moving power recently. Like you said, it worked better years ago than it does now, there are coins that perform much faster and and have much lower transaction fees and yet they all bow to the king of the crypto realm. An idea is the most powerful thing you can have
Hahaha! That was awesome! I had this impression you had some issues getting to sleep.
2 days ago you told we had seen this 10%-20% before and you were right.
Then I thought to myself 10-20% feels somewhat different today than what it felt 1 year ago and I guess you get what I mean.
I really love your 4 points. I think the 4th might need to be re-work. I think cryptocurrencies aren't the best form of money all the time.
When someone is dying of hunger the most valued money is food. In the largest sense everything as a economic value, we even spend our time or waste it just like money.
Sometimes even a brain ledger of the type "you owe me x mount of $" can be a better ledger than cryptocurrencies but all in all I really love how you broke it down.
It's good to see you on video Luke. You're very good at public speaking. You're a lot more interesting than the vast majority of Youtubers due in large part because you're talking about this magic internet money.
I'd love to see you more often on video. You should look to get a spot for a 30 minutes radio show on MSP Waves. That could be pretty awesome!
Yes, I agree, it's not the best form of money all the time, but to me, that's a slippery slope since anything we claim has value could be altered by point 1. "When someone is dying of hunger" changes the context and the circumstances which change the moment of exchange. When I say it's the best form of money ever invented so far, I mean in the general sense given a "normal" modern experience of life. That would include (obviously) power and internet. Without those, cryptocurrencies become rather less valuable. Brain ledgers work as well, but they require trust and are not transparent to others. Those two things, I think, make a distributed ledger based on cryptographic proof much better. If the friction was non-existent, I think we would move those "you owe me X" things into smart contracts, just like we moved memorizing phone numbers to our smart phones.
Hmm... a 30 minute radio spot. That's a very interesting idea. Maybe I'll consider that. I've wanted to do more videos, I just get so caught up in so many other things and I don't want to post just because it's expected of me. I want to post because I have something worth posting about. Then again, in this space, there's always plenty to talk about.
I'm a real youngster in the cryptoverse and learn each day, recently i watched an interview with Andreas Antonopolous and how he described his first contact with Bitcoin and the development around, how he read for months everything possible about the technology and how he lost weight in the double digits until it got unhealthy for him. For me it was similar, like a sparkle in my brain.. with many sleepless nights.. i couldn't understand why i didn't heard about all that before.. it was like a portal to a whole new world in June. Everytime i think about that i always remember of a picture in the ASM 7/90 from Ultima 6 - The False Prophet
And the funny thing is meanwhile i'm so used to cryptocurrencies and blockchain technology (without real deep knowledge in informatics but knowing the basic principles) that if i have smalltalk with someone who talks about the future and i start with blockchain i see often wide open eyes of surprise with a expression "What the heck is he talking about?" and i'll do my best to explain things with moderate success. I often hear bubble, speculation, no real currency, will be prohibited by government.. what then? should i buy bitoin? FUD sprayers did a good job to withholding people which are more intelligent than i.. that feels like the picture with the portal.. i left the regular world in a dark night behind me and no one noticed that and it feels sometimes lonely because there is no one who knows about that or wanna know about that.. it's like a well guarded secret or something many just ignore still today. I'm just wondering after all.
But the more i read, the more i see the development it is clear that will change the world and will go mainstream, maybe in a decade. And we will see also further hype cycles like the current one. A trader called masterluc predicts a price increase of Bitcoin in the current cycle to $40,000-100,000 til the next bubble will burst. After that blockchain technology is again a few steps further than today and will increase it's worldwide footprint. That's my belief after all.
Thank you for this motivating post, which reminded me of my humble and fascinating beginnings!
"If you're still not convinced ideas can change the world, consider this: Words written on 9 pages and released anonymously 9 years ago led to the creation of a global ledger money system with a market cap of $185B and a trade volume of over $9.1B in the last 24 hours alone."
Great quote man. I remember first hearing about BTC going to 10K and now it's here
As a thinker and poet, I know that ideas and words can change the world. This is what drew me to crypto-currency, wanting to be part of this exciting socio-economic revolution.
I think a big part of Bitcoin's success has to do with the increasing lack of trust regarding big institutions - financial, governmental, even news. In such a disheartening environment, it makes senses that people should wish to cut out the suspect middle men out and take back their power!
i have a thought that bitcoin owner want to control whole world. No one not know about real owner of bitcoin.If it will crashed or default his worth will be unbelievable
any one can give me answer that my thought is correct or not
Good video. Crypto currency is still somewhat hazy to me, in trying to grasp it all. I wish I had enough $ to buy one; it feels as if this is the beginning of owning a microsoft or google stock way back in the day; is it possible to purchase a part of a bit coin if I threw all of me steem into it?
People are getting more aggressive with their trading. It's already rebounded back to 10k, but you cold have sold at 10.8k and rebought at 8.7k today. I really need to switch over to a more reliable trading platform than kraken, which is an okay exchange if you are going to buy and withdraw and hold, but is not the best for active trading which is really what I want to do. That said, my biggest regret in this market is trading too much and not holding enough.
That's why I'm so interested in the Steemit platform. If ideas contain such potential to change the world, surely sharing will accelerate everyones development.
Part of the reason i have joined steemit is because of the crypto market exploding the way it has been ; i am currently trying to show others about it but not alot of people are getting into it .
i only wish i can end up obtaining just a single span of their attention ; just to show them what they are missing out on .
Love the passion and enthusiasm in this video post Luke. My lack of surprise right now tells my gut that this isn't some fluke that will be short lived. It seems like only the beginning.
Yeah, this really is unreal. Can anyone even explain how is it even happening? Just like a week ago I was like, ehm.. would be great if it had hit the 10k mark at Christmas. Now we are looking at almost 12,000$. Just What The F***?
I see people are predicting around ~15k at Christmas now. If it keeps up, I'm more like it will hit 25k$ USD Lol. Seriously, the increasement is just way too fast and I'm actually getting hesitant when it comes to holding so much money in BTC now.
I start to believe in a bubble and other kind of myths, that I have seen around the web. Yes, I know, that I should not, but it just seems way too fast for me!
Wow, promoting the post of @lukestokes, I am sure this is why he got so much attention at his post. Why not better said promoting the bot at the post of @lukestokes? :))
10K ? A problem?
Not at all. I knew this is comin'. Knew long ago. Many years ago.
All our present comments will be very funny to read at Christmas- 2018 time. Mark my words. :)
Every new technology takes time to mature, and adoption is always running by the same "S" type curve. Always.
And many exciting things and times are waiting for us along that curve
I feel your passion, bro. And to think, we are "STILL" at the very beginning of the crypto revolution. :)
Totally unreal! I love it lol
We blew through 10k like it was nothing. We have been blowing through bottle necks for the last 6 months. We had originally thought 5k would be the mark for end of year now we are looking at 13-15k end of year.
Its going to get real crazy come December 11th
Posted this elsewhere but relevant here:
When markets are understood, the idea that everyone can make money is not only inaccurate but impossible and laughable. Everyone making money means there is no market, because who would be taking the other side of the trade?
It is no mistake that individuals begin to like the same sorts of fashions that everyone is wearing. In a quest to change, the majority of society ends up changing together, moving towards similar desires and away from similar dislikes. Therefore, what the market is offering provides the exact thing that will lure the trader into the crowd.
For example, someone who has little experience investing wants to get involved because everyone else in their social circle is, ads are all over tv and even their nightly newscasters are talking a lot more about how the market is so good. In this environment you can be certain there will be lots of “helping hands” to welcome this investor to the crowd, teach them to be a part of the crowd and initiate them into the world of the blind leading the blind.
The market is unlikely to reverse to any significant degree until almost everyone is on one side. Which means almost everyone who joined that party late is going to lose. A bunch of people may just decide to wait, but so will the market. And if people are divided then the market will move in a ranging fashion.
People are the catalyst and without people to create an extreme the market won’t hit an extreme and reverse–remember the market does not act on its own, we…the people… are the market. In other words, the boom and bust cycles will not end. We progress and regress and then progress again.
Until almost everyone is in the trend, it won’t stop. The trend will keep going, enticing more people in, and when it reaches critical mass (which it can’t do without pretty much everyone on board) a reversal occurs. This change in fortune (for the worse) causes concern and then panic as a full reversal occurs. And as the mood of society continues to grow darker people feel more hopeless and give up fanciful notions of making money with crypto and so it will continue to drop.
In other words, the very thing which lures people in droves (big returns) ironically means that most of those people will be on the losing end of that exchange. In another ironic twist, when people clamor into the market all at once out of greed and a belief that a new era has begun, they bring about the exact opposite. @pawsdog
If we're talking specifically about speculative investors only, then your words hold true. Most markets aren't driven by a zero-sum game like you're illustrating here. They are a function of value creation and the exchange of that created value. In these kinds of value-creating exchanges, more wealth exists in the world after the transaction is completed. I think what we're seeing in the BTC trades now is a residual effect of the extreme levels of value that BTC brought to the table in the first place. We haven't reached saturation yet, so the zero sum game hasn't started yet, in which BTC becomes just a simple ledger and a great store of value.
I wish you could resteem a comment this is an awesome truth. Beautiful.
Thanks..... :)
Yep, I found truth in your words!
It does seem to be playing out, but this is not the big pullback.. this is nothing yet.. just an precursor of whats to come, a nice Bull Trap perhaps but on the small scale. Market is very very top heavy at the moment and we need some blood letting to put things back in perspective @pawsdog
I could also see this as the mythical whales testing the floor. Regardless I would see it as a warning sign to GTFO for a bit.. unless you are very experienced and want to play 15 or 30 minutes swings, or just like to gamble.
if you have a chance to talk about it- check out the mystery behind the real satoshi - this guy analyzed it all. really good.
https://steemit.com/bitcoin/@pangopango/szaboshi-nickamoto-a-clue-in-the-satoshi-nakamoto-mystery
I can't think about anything else at the moment either. I will celebrate tonight for sure
We are making history!
Yes yes yes! I've been explaining it to people like this, think of it as a transition away from central banking and making it more accessible to the public. By using cryptocurrency and the blockchain, you can essentially be your own bank, lawyer and accountant with little effort. That kind of grabs peoples attention. It's a huge idea. It's world changing. And it is damn exciting to watch! Excellent video man, I feel the same as you today, time to celebrate!
"All because of an idea made into reality" Perfect! This is one hell of a ride.............
i would like it to go down abit before i step in. But it feels like i am standing on the edge of a swimmingpool not daring to jump. ! That is just because i do not understand how to buy and sell. I am watching and have watched your videos, but i need someone to hold my hand while instooling a wallet or how that is called. But is indeed so exciting ! since i am on steemit a bit longer than a month now it nearly doubled ! wow.
You are right, and I actually think it is a little worrisome. On this rocket ride, we are forgetting essentials and other values (like sleep). Wealth is only euphoric for those that experience it. Will it be shared this time? Doubt it.
LONG LIVE THE BLOCKCHAIN!
I just hope that we can follow the vision of Satoshi and it does not get swallowed by the major powers that be.
absolutely incredible. so glad for all things crypto. it's gonna be a great future ahead for all things digital payments.
Couldn't agree more. I think I've finally convinced my first friend to check out crypto and steemit. He at least seemed interested for the first time since talking about crypto for the past year.
The question for everyone is where the bitcoin will go
Ideas are bulletproof you can vilify it, try to hide it, deny it and even suppress it. But ideas are like a small match, lit and dropped into a dry bush during a windy evening, it usually starts small, then it escalates that even a thousand firemen would not be able to stop it. Go bitcoin.
You summarized it very well. The idea is what made it so special and has given it such moving power recently. Like you said, it worked better years ago than it does now, there are coins that perform much faster and and have much lower transaction fees and yet they all bow to the king of the crypto realm. An idea is the most powerful thing you can have
Most of my friends ignored my advice to buy bitcoins since they thought the process was cumbersome and now they regret. 😂
I don't know what is going on save hyperinflation in process. All I know is my face hurts so bad as I have not stopped smiling all year!
I am cautiously optimistic. Although I am getting wealthy because of Bitcoin I still feel we have moved to high too fast.
Resteemed!
Nice vid. Just how happy are you? Nudge nudge wink wink ( read "how many bitcoins do you have?")!
As @hilarski said in his video "I know a lot of very wealthy people right now"!
I can't think about anything else at the moment either. I will celebrate tonight for sure :)
Hahaha! That was awesome! I had this impression you had some issues getting to sleep.
2 days ago you told we had seen this 10%-20% before and you were right.
Then I thought to myself 10-20% feels somewhat different today than what it felt 1 year ago and I guess you get what I mean.
I really love your 4 points. I think the 4th might need to be re-work. I think cryptocurrencies aren't the best form of money all the time.
When someone is dying of hunger the most valued money is food. In the largest sense everything as a economic value, we even spend our time or waste it just like money.
Sometimes even a brain ledger of the type "you owe me x mount of $" can be a better ledger than cryptocurrencies but all in all I really love how you broke it down.
It's good to see you on video Luke. You're very good at public speaking. You're a lot more interesting than the vast majority of Youtubers due in large part because you're talking about this magic internet money.
I'd love to see you more often on video. You should look to get a spot for a 30 minutes radio show on MSP Waves. That could be pretty awesome!
Yes, I agree, it's not the best form of money all the time, but to me, that's a slippery slope since anything we claim has value could be altered by point 1. "When someone is dying of hunger" changes the context and the circumstances which change the moment of exchange. When I say it's the best form of money ever invented so far, I mean in the general sense given a "normal" modern experience of life. That would include (obviously) power and internet. Without those, cryptocurrencies become rather less valuable. Brain ledgers work as well, but they require trust and are not transparent to others. Those two things, I think, make a distributed ledger based on cryptographic proof much better. If the friction was non-existent, I think we would move those "you owe me X" things into smart contracts, just like we moved memorizing phone numbers to our smart phones.
Hmm... a 30 minute radio spot. That's a very interesting idea. Maybe I'll consider that. I've wanted to do more videos, I just get so caught up in so many other things and I don't want to post just because it's expected of me. I want to post because I have something worth posting about. Then again, in this space, there's always plenty to talk about.
I'm a real youngster in the cryptoverse and learn each day, recently i watched an interview with Andreas Antonopolous and how he described his first contact with Bitcoin and the development around, how he read for months everything possible about the technology and how he lost weight in the double digits until it got unhealthy for him. For me it was similar, like a sparkle in my brain.. with many sleepless nights.. i couldn't understand why i didn't heard about all that before.. it was like a portal to a whole new world in June. Everytime i think about that i always remember of a picture in the ASM 7/90 from Ultima 6 - The False Prophet
source
The caption is german means translated:
And the funny thing is meanwhile i'm so used to cryptocurrencies and blockchain technology (without real deep knowledge in informatics but knowing the basic principles) that if i have smalltalk with someone who talks about the future and i start with blockchain i see often wide open eyes of surprise with a expression "What the heck is he talking about?" and i'll do my best to explain things with moderate success. I often hear bubble, speculation, no real currency, will be prohibited by government.. what then? should i buy bitoin? FUD sprayers did a good job to withholding people which are more intelligent than i.. that feels like the picture with the portal.. i left the regular world in a dark night behind me and no one noticed that and it feels sometimes lonely because there is no one who knows about that or wanna know about that.. it's like a well guarded secret or something many just ignore still today. I'm just wondering after all.
But the more i read, the more i see the development it is clear that will change the world and will go mainstream, maybe in a decade. And we will see also further hype cycles like the current one. A trader called masterluc predicts a price increase of Bitcoin in the current cycle to $40,000-100,000 til the next bubble will burst. After that blockchain technology is again a few steps further than today and will increase it's worldwide footprint. That's my belief after all.
Thank you for this motivating post, which reminded me of my humble and fascinating beginnings!
"If you're still not convinced ideas can change the world, consider this: Words written on 9 pages and released anonymously 9 years ago led to the creation of a global ledger money system with a market cap of $185B and a trade volume of over $9.1B in the last 24 hours alone."
Great quote man. I remember first hearing about BTC going to 10K and now it's here
As a thinker and poet, I know that ideas and words can change the world. This is what drew me to crypto-currency, wanting to be part of this exciting socio-economic revolution.
I think a big part of Bitcoin's success has to do with the increasing lack of trust regarding big institutions - financial, governmental, even news. In such a disheartening environment, it makes senses that people should wish to cut out the suspect middle men out and take back their power!
Keep smiling, @lukestokes, I am, too =)
I seriously can't believe how much the blockchain and cryto currency has exploded! crazy hey
i have a thought that bitcoin owner want to control whole world. No one not know about real owner of bitcoin.If it will crashed or default his worth will be unbelievable
any one can give me answer that my thought is correct or not
good stuff thanks for this keep up good work
nice video about cryptocurrency thanks for sharing
informative video .keep it my friend
I missed this opportunity. But I still hoping it's have very great potential. If we can not buy 1 or 2 BTC, we should buy a part of BTC.
very needed video.
exciting time is right! appreciate the positive post:)
Bitcoin will reach at least 25k next year w8 for bright future in cryptoworld
I can't think about anything else at the moment either. I will celebrate tonight for sure
Good video. Crypto currency is still somewhat hazy to me, in trying to grasp it all. I wish I had enough $ to buy one; it feels as if this is the beginning of owning a microsoft or google stock way back in the day; is it possible to purchase a part of a bit coin if I threw all of me steem into it?
Yes, you can purchase even a very small part of a bitcoin.
good to know, I will have to look into this :)
Am always awed whenever I read articles about cryptocurrency. The mind/ an idea is really a powerful thing
It's tanking right now. Went all the way down to 8,700 on GDAX for a minute.
If a correction that big happens now, everybody will panic...
People are getting more aggressive with their trading. It's already rebounded back to 10k, but you cold have sold at 10.8k and rebought at 8.7k today. I really need to switch over to a more reliable trading platform than kraken, which is an okay exchange if you are going to buy and withdraw and hold, but is not the best for active trading which is really what I want to do. That said, my biggest regret in this market is trading too much and not holding enough.
That is what I regret too, after each of my trades...
That's why I'm so interested in the Steemit platform. If ideas contain such potential to change the world, surely sharing will accelerate everyones development.
Bitcoin is going to change everything.
Part of the reason i have joined steemit is because of the crypto market exploding the way it has been ; i am currently trying to show others about it but not alot of people are getting into it .
i only wish i can end up obtaining just a single span of their attention ; just to show them what they are missing out on .
Love the passion and enthusiasm in this video post Luke. My lack of surprise right now tells my gut that this isn't some fluke that will be short lived. It seems like only the beginning.
Yeah, this really is unreal. Can anyone even explain how is it even happening? Just like a week ago I was like, ehm.. would be great if it had hit the 10k mark at Christmas. Now we are looking at almost 12,000$. Just What The F***?
I see people are predicting around ~15k at Christmas now. If it keeps up, I'm more like it will hit 25k$ USD Lol. Seriously, the increasement is just way too fast and I'm actually getting hesitant when it comes to holding so much money in BTC now.
I start to believe in a bubble and other kind of myths, that I have seen around the web. Yes, I know, that I should not, but it just seems way too fast for me!
Wow, promoting the post of @lukestokes, I am sure this is why he got so much attention at his post. Why not better said promoting the bot at the post of @lukestokes? :))