Quote from: bspus on August 12, 2018, 04:09:58 PM

Quote from: gwestcot on August 12, 2018, 02:51:17 PM

Quote from: bspus on August 12, 2018, 01:09:48 PM

Quote from: JollyGood on August 12, 2018, 12:39:24 PM

Quote from: Vlad2Vlad on August 12, 2018, 12:31:13 PM

Theres so much manipulation in bitcoin and crypto in general that its hard to make educated guesses. Im going with gut feeling right now so I could be wrong.

Yes there is too much manipulation. People who control or own a large exchange and hold large quantities of crypto probably have something to do with it.

Think about it, there are people that purchased Bitcoin in January 2018 when Bitcoin was trading at $17,000+ each. Now they have lost 70% of that value. The volatility is too much. Something needs to change but what and how?

Strangely, the volatility only seems to be too much during a bear market, or when one happens to have bought high.
Nobody cares during the bull run, they just feel like geniuses.

What needs to happen is for people to think for themselves before they act. You must be crazy to start buying at 17k. Parabolic growth never lasts and is always followed by a strong correction.
If you cannot afford to hodl for years, don't buy. If you cannot stand a bear market, don't FOMO in. In fact, just don't FOMO under any circumstances.

People should do some research before getting into a novel asset class. But who wants to do that?

From an investment standpoint you are correct but from a usability standpoint you are decidedly wrong. Relatively stable value is a necessity to go along with scaling and also privacy. Right now there are no cryptocurrencies that even remotely satisfy those 3 basic requirements. The parabolic growth is nearly as dangerous as the crashes in ensuring that crypto is never used as a currency. I have been saying it for almost a year now but a new block reward algo that is based in sound economics is a necessity.

I was partly being ironic because people always complain in hard times. Of course volatility hampers usability.
But maybe at the same time, if people were more conscious about their decisions in the crypto market instead of blindly FOMOing and hoping to profit, volatility would also be reduced.

I doubt the block reward which you mention is an important cause for the volatility, at least not presently.

And I have really not made up my mind about whether I even want crypto assets to be a proper currency. They are great in providing an outlet to temporarily opt out of or circumvent fiat currencies in specific cases, giving us control where we didn't have it before. They don't need to replace them completely though.

Of course the block reward algorithm affects people's actions as far as speculation. You make a deflationary currency and of course people speculate on it rather than using it for its intended purpose. You need to do away with block halving, total supply sup, and lastly come up with an algo that is moderately adaptive but avoids the terrible feedback loops that have happened in the past. This is really the number one issue in crypto right now. The next is of course scaling but at the moment scaling solutions are available but Bitcoin maximalists are unwilling to change and thus the movement has been hijacked. You say that you don't want crypto to act as a currency but will you still be saying that after all major fiat currencies fail. It will happen and it is only a matter of time and math.