Quote from: markm on August 09, 2025, 09:21:02 PM

Quote from: Spinning99 on August 09, 2025, 05:25:11 PM

Quote from: stoat on August 09, 2025, 01:08:53 PM

Ethereum is at all time highs. BNB is over all time high. as soon as Ethereum breaks ATH say $4500 other alts will boom.

The reason why many people continue to repeat this is because they have deep bags in many useless altcoins. There is nothing to indicate that we will have an altcoin season like before. Sure some things will pump, but many won't.

I do not think it is merely "inherent uselessness" of the coin or token that counts.

Rather, I think the "inherent" uselessness of the demographic/community (culture) it attracts is massively important.

Bear in mind that money is basically an I.O.U. (I owe you), its value resting in the reliability with which its issuer(s) redeem it.

There need be nothing red-flag-ish about "deep bags" if culturally strongly associated with "deep buy-sides".

On the other hand even trivially shallow "bags" are not much help if held by a demographic/community/culture that does not build strong deep buy-sides.

The closer price gets to the bottom of the span of prices supported by the trading venue the more "dumping" one typically can expect, so building the buy-side more strong the deeper one builds it, at least toward the very bottom, is good to see.

Partly because of the possible-myth of alternating bitcoin seasons and altcoin seasons it is also very nice to see bitcoin as one side of the trading-pair, because a deep strong buy-side built stronger the lower it goes is especially nice when built out of bitcoins; being built out of bitcoins builds-in an "automatic" upwards price-pressure as the "season" swings back toward bitcoin, the already in place buy-side appearing higher and higher as the bitcoin it is built from goes up and up in value.

So look for the coins whose users build strong strong buy-sides, no matter how deep the "bags" dumpers might hold a buy-side can be built sufficient to gobble up their "bags" and keep on building...

-MarkM-

I appreciate your post but it is a bit missing the point, you kind of over analyzed this. What is usually meant with deep bags is people who invested in yet another revolutionary innovative bullshit coin or token that was meant to change the world, but in the end it was just as useless as many of them. A simple tell is when people exaggerate the benefits of a coin or token but dismiss any legit criticism of it. An example would be Ethereum bagholders. They will dismiss any concerns that it is quite centralized, both in governance and on blockchain terms.

Quote from: roemer on August 10, 2025, 06:48:18 PM

eth is extremely low compared to btc performance so its got a long way to go which is good news for the fomo

Double would be a minimum, so these people that expect a season before then are crazy. $8000 or $9000 ETH would maybe indicate something.