The Revealed Truth About Bitcoin Crash Landing in 2018 at $3,300 & The Way Out In 2019

 

Do you think these scams/money grabs will work again in the next Bull Run? Forks, Airdrops, Masternodes, ICOs, Coin burn, HYIP/lending, Exchange coins” – BitLord on Twitter.

 

Speaking to Bloomberg, Mark Dow, a trader who called the top of BTC, said:

“I’m done. I don’t want to try to ride this thing to zero. I don’t want to try to squeeze more out of the lemon. I don’t want to think about it. It seemed like the right time”.

They just saw it was going up and wanted a piece of it.”

Jax had it this way, “The amount of propaganda in crypto would make politicians blush. “XRP is a scamcoin”, “Bitcoin is old and useless”, “Ethereum is a failure”, “EOS isn’t a blockchain”, “Litecoin is a shitcoin. Why else would Charlie sell, “Bitcoin Cash is ‘fiat'”. It never ends. You literally have to ignore it or you would never buy anything”.

And from CryptoLord,

Yup. DYOR and consume credible information. If you invest purely based on hype and emotion and not reality, you’ll likely get burnt.

We saw it last year when everyone saw BTC/ETH (and major alts) explode in a matter of a couple months. This caused a huge amount of FOMO buyers who bought in at ATH only to see it drop to 1/6 of their investment.

I know a few people who jumped in around November and lost thousands; most of them couldn’t tell you much about cryptocurrency and forget about the potential of Blockchain.

This is what happens when you pay more attention to the hype, then the actual technology and news.

 

Don’t Miss: 2018 Top 11 Best Cryptocurrency & Altcoin News Websites That Won’t Hurt You 

 

Riding on ‘hey have you heard about this thing called BTC worked early in 2017 and prior, but I honestly don’t know if that trend will continue.

Anyone that says otherwise is completely full of shit. Look at partnerships, progress, business growth, etc. (Think about how many ‘predictions’ said BTC would be double the same time last year.)

This isn’t to say BTC won’t survive for a while, but if it’s only because it’s a store of value, then it deserves to die.

 

Back up: 16 Most Disastrous Crypto/Bitcoin Price Predictions

 

It’s really unhealthy for an entire market to be dependent on a single token, nor does it make any sense; but until institutional adoption or volume from use, retail whales have complete control.

I think the only reason we’re seeing a large bump is because it’s expected, except this time it’s going to take a lot more to bring in new retail investors and forget about the ones who already bought in and saw their investment tank 85% in a matter of a few months.

While the above is the woes of a 2017 Bitcoin year, the truth afterall is that we’re still early adopters.

 

Talking about Blockchain Technology,

Blockchain is still widely unknown in institutional environments. But arguing BTC price being high is a good thing for no other reason than it props the market up is incredibly unhealthy for proper growth.

The prices should be driven by utility, not speculation. But as soon as institutional investment/use comes in it won’t matter what price BTC is when companies are burning millions of something from the use or even just traditional investment from major firms.

We saw a similar effect with the .com; most people got burned extremely hard, but those that walked away escaped extremely handsomely.

Believe it or not, 2017 Crypto year brought this bizarre growth that was almost expected, when in reality even the most successful IPO in history took 6 months to grow 1,000%.

These ludicrous gains are unnatural and a symptom of tokens without any actual use or utility being ‘propped up’ because ‘speculation.’ Let the useless coins die.

 

According to Cryptogod (a crypto enthusiast), “personally, I don’t have any hair in the game towards BTC. It had a decade to gain institutional adoption and all we’ve seen is in-fighting, forks, abysmal speeds, high transaction costs, and overwhelming energy use…

A reality check and correction has been imminent. Too many kids who’ve never touched Forex or a traditional stock dropping 2k and ‘expecting’ 1,000% overnight while literally ignoring the technology”.

And guess what Bitcoin did to them in 2018 – the new kids? See below.

 

 

THE HORSE RIDE OF BITCOIN 2017 YEAR

The 2017 crypto year created tribalism and the irony is that the very tribalism has been a huge factor towards stunting the development of crypto and real adoption.

You can imagine that a crypto whale may come out to give a tweet about a particular crypto coin (having been compensated or not), and under 50 seconds a FOMO by his followers is caused and the result?

The early adopters of crypto (always the vulnerable ones) flock in and buy while the formed whales’ tribe stand afar and sell their assets.

Even though we want to hide so many arguments, the truth is that the community looks incredibly unstable and just bizarre to outsiders and institutions and has actively played a role at slowing use.

Many insightful investors invested in the technology, not the hype surrounding it. Too many coins all jumping on the bandwagon without any leadership or direction are now panicking.

This is why it is important you know the essence of any coin before hitting the buy button – long-term holding.

 

THE DECLINE OF MANY HYPE 2017 CRYPTOCOINS

According to CCN.com, analysts have generally attributed the intensified decline in the value of Ethereum (ETH), Bitcoin Cash (BCH), and other major crypto assets to the lack of fundamentals.

Talking about Ethereum, ETH has not been able to show a high level of user activity in decentralized applications (dApps) while Bitcoin Cash struggled to gain merchant adoption.

The division algorithm of BCH in November 2018 showed clearly that a house divided against itself cannot stand.

Meanwhile, the surge in the price of ETH, BCH, and other protocols like EOS show that traders are more comfortable in entering high-risk positions and confident in the short-term trend of the market.

The standup point is that whether both major cryptocurrencies and small ERC20 tokens can maintain their momentum throughout the weeks to come and sustain the price range achieved in the past few days remain uncertain.

Think about entering a coin at the apex as a crypto trader and you want to die soon. I have lost over $300 just for trying that out – avoid it by all means. (If you are interested in trading cryptocoins in 2018, go here).

Is hope lost about the growth?

Nope.

In fact, the recent corrective rally allowed the crypto market to obtain some breathing room and avoid a large drop below the $100 billion valuation mark. And of course, Bitcoin is rallying back to $4,500.

Bitcoin Crash Landing

 

A HEADLESS CRYPTO JOURNEY

While we may want to paint the perfect picture, the truth is that BTC was not supposed to be worth $10,000 last 2017, at least, not so soon.

Bitcoin was a mere myth and to others a sudden golden rich scheme, aka Ponzi.

Do we know that while the developers were working behind the scene on making the cryptocurrency dynasty work, there were tingling overhead challenges to solve?

First of all, the developer’s community was never one. Bitcoin suddenly became Bitcoin Cash, Litecoin suddenly became another Bitcoin, Ethereum Classic, what is the essence?

I mean, instead of a goal to make this work we were seeing a community hiding behind the technology of Blockchain to tell us, we know what we are doing.

The very factors that worked against the development and main essence of cryptocurrency.

Forks, Scaling, Airdrops, Masternodes, ICOs, Coin burn, HYIP/lending, Exchange coins. You know, the listed is just like pouring in water into a basket. It comes in from the top and goes out from the bottom.

 

 💡 SCALING

Much of the focus has been on the work being done among bitcoin and Ethereum developers to resolve this challenge.

In bitcoin’s case, scaling was the subject of an ugly dispute between those favoring a block-size increase — an on-chain “Layer One” solution backed by advocates of breakaway cryptocurrency bitcoin cash – and those, such as the Bitcoin Core developers, who preferred off-chain “Layer Two” solutions such as the Lightning Network payment channels model.

 

According to data from 1ml.com, the Lightning mainnet now counts more than 4,400 nodes and more than 13,500 payment channels, with those two metrics having increased by 10.45% and 43.5%, respectively, over the course of the same month.

Even as the bitcoin price collapsed, work just continued building the network.

 

The ETH Fold

The Ethereum community’s approach to scaling has been more cohesive than bitcoin’s, but it has also embraced a more ambitious agenda.

The scaling roadmap includes a shift to proof-of-stake consensus under the Casper project, as well as ethereum’s own layer one and layer two solutions.

For layer one, the focus is on sharding, which splits the blockchain into different, interlinked portions, so that the processing requirements for each node can be lessened.

And the layer two work includes Lightning-like state channels such as the Raiden Network and the “child chain” model on which Plasma is based.

 

 💡 FORKS AND ICOS?

Ethereum Classic, Bitcoin cash, BitcoinCashSV and BitcoinABC, Bitcoin core, Bitcoin gold and you name them. To what can we likened them to? Perosnally, I think, they can be likened to crypto with no essence because they were all copycats.

Litecoin Like EOS?

Litecoin didn’t want to come in a cleaner way as EOS, so, they told us it was another Bitcoin which the truth was that it was just another Bitcoin supposed ICO/forked coin.

This is the same Litecoin Charlie Lee admonished investors to buy Bitcoin before the latter.

 

Be it as it may, while the collapse in crypto prices was no good news for ICO-funded projects such as Cardano, Polkadot, and EOS, research by BitMEX showed that many of them remain well-capitalized because they managed their treasuries proactively following the big fundraises of last year.

And on a mere investor side of hope, it’s a fool’s game to try to predict which of these solutions will succeed and which will fail. But it seems that one or more of them are poised to deliver some real advances in scaling and usability.

But the question is, where are most of them now? Probably, a long walk to freedom.

As a crypto enthusiast made it out, with the US cracking down on ICOs, I doubt many of them will show face because as it stands, they are forced to make a refund of investors’ money, and for those that are thinking they will come back strong, they are either requesting more funds from the investors.

 

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 💡 AIRDROPS

The science of many scams bad money grabbing.

While Bitcoin will always be a what Satoshi wanted it to be, the truth is that the free hand for many roundtable to be set thereby requesting money from the public in the name of Airdrops has done more harm than good.

Those that never knew nothing about Technology suddenly became an advisor in the team of directors. Come on, what was going on?

 

Bitcoin Crash Landing

 

Agreed, some of these coins were good- came with a purpose, but come on, many mere scams in sheep’s clothing.

Lesson?

Just give people the chance and they will capitalize on the market mania and euphoria to create woes to humanity.

 

Bitcoin Crash Landing
CoinTelegraph.com

The question is; is this how a new technology would be sustained for En masse adoption?

 

 💡 MASTERNODES

Masternodes is another Ponzi python dance in the crypto industry.

“If you don’t find a way to make money while you sleep, you will work until you die – Warren Buffet ”

Whether you love that quote or hate it, when it comes to the cryptocurrency space, one way you can readily make passive income “while you sleep” is through hosting a masternode.

Different cryptocurrencies have different incentive models through which an MN – masternode operator can earn a decently monthly or weekly income. Bitcoinist.com calls it smart passive income.

 

How it works

Some cryptocurrencies pay out rewards to masternode operators multiple times in a day, whereas other projects payout operators once daily.

The benefit of this dynamic is that operators can still earn money and provide a service to the network without having to invest in expensive cryptocurrency mining gear.

 

This is how it runs…

If you are going into it, you want to choose the right currency for investment if you are solely investing in running a masternode.

Also, you want to compare the percentage yield against the investment. In short, you should smartly calculate your ROI – Bitcoinist.com.

The mechanism, while an older idea, is starting to gain some traction with significant projects such as ZenCash (now Horizen), Gold Poker and Zcoin using the masternodes.

 

The undying deficiencies?

The Twitter battle, though, is all in good fun (mostly).

At its heart, the months-long contest pits pairs of tokens that use masternodes up against each other to test sentiment and name recognition, all using fairly simple, straightforward SurveyMonkey dialogues.

Its instigator is Brian Colwell, a blogger, and consultant to crypto startups, and he’s ramping up the drama around it.

As a crypto enthusiast said it, “crypto will be no more but the technology will be adopted by many industries”.

Well, while the former is not yet verified, the truth is that these are 25 applications of Blockchain as at 2018.

 

 

 💡 HYIP/LENDING & SCAMS

One of the very things that cause lean purses are undoubtedly HYIP, Scams &Lending.  While the latter is a bit okay – the evidence here, the former two are nothing to write home about.

As reported by CoinTelegraph, the Italian securities regulator has suspended two projects for allegedly offering fraudulent crypto-investment schemes. The 90-day suspensions were reported in an official statement on the regulator’s website published Monday, Dec. 17.

The Italian Companies and Exchange Commission — or Commissione Nazionale per le Società e la Borsa (CONSOB) — is the Italian analogue of the United States Securities and Exchange Commission (SEC) and represents a governmental authority that regulates the Italian securities market.

So, you can see that while we are desiring credible cryptos development and adoption, some of the supposed crypto lords were busy designing crypto websites, a platform to dupe many vulnerable users and those coming in to make all of a sudden computer money.

 

My Scam Experience

I was tactically scammed in April in a crypto exchange. The same feat wanted to repeat but in another shades of gray.

In early August, a man on Facebook (to cut the matter short, after prior conversations) showed me how he connected my Blockchain wallet account to a mining machine – MMM-money making machine and in it, I had accumulated 13 BTCs in different batches.

With such accumulated accounts, I was still billed to pay a mere $200 to claim them? And when I resisted, a bargain at $140 was on the table.

The big question was if I had 13 BTC mined in their batches, why should I pay a meager $140 to claim them?

Well, the CoinTelegraph and my experience are just fragments of the ugly crypto stories out there. To see many Hyips and bad crypto investments, see BadBitcoin.com.

So, this again is a drawback in the community. The best way to beat this type of bullshit is standing out completely – if only the newbies will listen.

 

[bctt tweet=”Fast Crypto Money Stunts and increases frustration  ” username=””]

 

 💡 EXCHANGE COINS

Why so many exchange coins? In the course of writing this article, I just learned that OverStock is about to introduce her utility token next year – 2019. Come up, this is a bull crab.

With due respect to the startups, BNB, KUC, and many exchange coins should not have been created. Why? They have no fundamental problems to solve.

While Kucoin exchange is a copycat of Binance, both exchange coins only made their rounds because incentives was involved for the holders – another division strategy in the community.  

 

3.png
Binance Website – All Rights Reserved…

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Consider this, if you and I are techie(s) and at the same time we can stay at our homes and create banks, tell me, who will patronize us?

A lot of those that missed out in Bitcoin (as a developer with benefits or related wanted to duplicate the case afterall they had all it took to make it work).

Always and more often,

We talk about Crypto replacing the Banking industry, yet, the banking industries are acting as one – with a common goal.

What of Crypto?

The kingdom of selfishness, greed of which some are based on ignorance and of course, the quest in becoming tech millionaires.

The baseline is, this is not how to make Bitcoin and crypto work, never.

 

Imagine this…

Binance CEO believes that there is nothing wrong in so many utility tokens – this is the tweet.

In his, tweet, I quote “It’s about time. There is no reason for any IM app not to issue their own utility token. Let’s see who is next. The early movers have a huge advantages on adoption (merchants etc)”.

 

Bitcoin Crash Landing

 

Bitcoin Crash Landing

 

Bitcoin Crash Landing

 

As beautiful as those tweets were, the good news was that the community did not see it that way.

Some of the crypto community responses:

Arjun

Replying to @cz_binance

“Why this fuckers can’t adopt to existing crypto on their networks, without creating new coins. Only one purpose: create scam coins and sell to public. Then earn money and give up the coins”.

 

Tony

Replying to @cz_binance

“Do you think how many coin in the world if one application have one coin? The world will have many coin, we cannot count. Why Facebook, telegram… don’t use BTC, LTC, XRP for their application”.

 

Crypto Yuda 
Replying to @cz_binance

“Hope to see Google and Apple issue their token. Acceptation is in progress day by day”. 🥳

You can join the conversation here if you want. 

 

LET’S US BE YOUR TRUE CRYPTO FRIEND IN 2019  😎 

WHAT BITCOIN DID TO SOME SPECULATIVE INVESTORS 

While the reason for the fall can be seen here, however, the influx of naive and Ponzi minded people in Bitcoin 2017 didn’t go well.

I mean, these are the sets of people that know nothing about cryptocurrency talkless of how to strive and win in 2019.

Their point of interest was a mere winning and more wins? See below.

“If I put in $1000 into this speculative currency, my reward can be $5,000 in 3 weeks. Because it worked out since August 2107″

With the results at hand, so, what was the next step?

“If I put in $10,000, it may yield an upturn profit of $20,000. But the surprise”? See below.

 

 

THE ATTACKERS OF BITCOIN

Recently the Daily Express published an article which the sole aim by negligence or ignorance was to pin point Bitcoin to the ground.

Bitcoin Crash Landing

 

Not just them. With mean like Warren Buffet, Peter S. believing it to be a shitty coin, this is not the time for the community to break up but to stand as one.

Considering the above article, just like a crypto enthusiast asked, a mere question to ask would be, Do you think those journalists” care about what Bitcoin or cryptocurrencies in general?

If no, then, this is why the crypto dynasty need to stand tall. With all these forces against, it is time to brace up and bind as one.

 

 

THE CRYPTOCURRENCY COMMUNITY SPEAKS ON THE WAY OUT AGAINST 2019

I have learned a lot to write a 50 page kindle of what to do in crypto. But let’s hear from other crypto enthusiasts.

Talking about cryptocurrency communities, this is a 100+ community.

 

Bitcoin Crash Landing
Image: Pixabay.com

 

According to Xenzor,

“For me personally, I’m holding and waiting for the true adoption phase when alts are utilized for their intended purpose and not just speculation and trading.

Eventually, there will come a time when the value is derived from the service they are linked to and not simply following market trends.

I’d never trash talk BTC or think it will go from number 1 spot. It’s just not for me.”

 

SpoonyDinosaur

Completely agree. If an entire industry can fail because of speculation, the industry deserves to fail. The Utility should drive price, not emotion and speculation.

 

Jax

It’s not just Bitcoin. Everyone in this space calls everyone else a scam. That’s really not even an exaggeration.

The amount of propaganda in crypto would make politicians blush. “XRP is a scamcoin”, “Bitcoin is old and useless”, “Ethereum is a failure”, “EOS isn’t a blockchain”, “Litecoin is a shitcoin. Why else would Charlie sell”, “Bitcoin Cash is ‘fiat'”. It never ends. You literally have to ignore it or you would never buy anything.

 

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In a Coindesk recent article, the stated that Cryptos is far from dead – which I believe it is. The only problem is knowing the essence if the innovation.

After a gloomy look at the state of cryptoland two weeks ago, it’s time for more of a glass-half-full assessment of the outlook.

As we’ve been hearing, one advantage of a bear market, when price is less of a distraction and competition for engineering talent isn’t so tight, is that serious projects can buckle down and start to develop real products. The question, then, is whether there are any serious projects for developers to work on?

The answer, resoundingly, is yes.

The big challenge for blockchain development is scaling: how to resolve the tradeoff between decentralization and efficiency that bitcoin and ethereum ran into once every node in the network had to process and record an ever-growing string of transactions.

Overcoming this scaling challenge, so that many more transactions can be processed without raising security risks or overly trusting specific record-keeping entities, is vital because it will pave the way for other improvements, including lower costs, more application-layer software products, and improved user experience.

The good news is that there’s a great deal of work going on.

And whereas previous new blockchain projects that touted massive transaction-processing power were limited to “permissioned” networks, the work being done now goes to the heart of a more exciting scaling goal: a dramatic increase in the capacity of open, permissionless platforms.

Again, when we treat Bitcoin and crypto as a currency devoid of greed, selfish interest, and politicking, then will we be prepared for the journey ahead.

This is just how to overcome the odds and prepare for the next Bull Run…

 

In case we forgot,may I remind us that “Bitcoin is a currency and not a speculative investment”.

 

[bctt tweet=”Bitcoin is a currency and not a speculative investment” username=””]

 

However, with the 2017 crypto year, I have been thought not to hold any coin for more than the time I should. Surging in this industry now is building your own empire of strategy which will make you stand out.

To stand out, you can start from the scratch or see how to succeed swellingly in 35 Steps

 

 

Okay, so, this article literally took me 3 days to finish-through. Please hit the share button and share the love – remember it’s Christmas. Thanks.

 

This is our Gift for you. Merry Christmas.

 

Welcome to 2019 crypto year…

 

Ref: Reddit.com, CCN.com, Bloomberg.com, Twitter.com, Laughing Colors, CoinTelegraph.com, LoopHub – Xmas image

 

Isuamfon Offiong

I am Offiong Isuamfon. I Value People 100% Over Profits. After being scammed my last BTC, I HAD to "Delete ALL my Articles" on 19th June 2018 to start ALL OVER AGAIN to protect Beginners against Crypto Vulnerabilities & Making Unsmart Investments in the Crypto/Blockchain Tech. More on meet-the-founder-page

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