The Crypto Carnage: Bigger Than The Market Crash

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▶️ Watch on 3Speak


This is really mirroring the dot com era. Of course, that was also bigger than just the market. There was a time when businesses went under and companies filed for bankruptcy. Employees were let go as many just tried to survive.

In this video I discuss how none of this is a barometer on the industry. The long term viability is going to improve. It is more of a cleaning out process which is needed. We will see a stronger industry by the time the next bull market kicks off.


▶️ 3Speak



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18 comments
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I don’t remember the dot com era since I wasn’t of the working age I don’t think, and my parents didn’t get into it but I know that the recent crazes like ICO and DeFi explosion have certainly thrown some red flags for me. I guess if you can get in and out quick enough for another bag holder then people can make money. I don’t have the tolerance for that lol so I just buy bitcoin and hive.

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Either in and out in terms of a quick trade or long term it via strong projects that have a high chance of success.

Of course, as Yahoo shows, there are still major risks.

Posted Using LeoFinance Beta

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how do you say in biology NATURAL SELECTION only those that have a healthy economy will be able to survive what is coming many more problems

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I agree with that type of analogy. There is a degree of this being a complex organic system and there are "laws" that are followed. We see the weak get washed out simply through the cleansing process that naturally occurs.

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Puzzled with mass psychology. The market crashes I know are always preceded by euphoria, which I think is missing in the current one.

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(Edited)

I think we saw a very clear euphoria phase before this market crash, there were very obvious signs of extreme greed such as (In the crypto market):

  • Degen farming
  • Useless coins being pumped to oblivivion (hello SHIB!)
  • Insane amount of Ponzi based projects in both in P2E & DeFi

If we talk about the stock market:

  • Growth companies with extreme valuations and poor balance sheets
  • Insane market behavious with MEME stocks (GME and so on)

Don't you agree?

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Though I don't expect of course mainstream adoption to happen all at once, I think prior to the crash, there was a lot of uncertainty already and bashing of the crypto space.

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I think the run up to $65K on BTC was pretty strong.

Now we are feeling a painful move from there. Was there a blowoff top like many times? Maybe not but we did not stay elevated too long.

Posted Using LeoFinance Beta

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The 7-month downtrend looks like a healthy pullback for me, though it seems a little overdone.

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There will definitely be a ton of companies that go bust or get thrown off like Yahoo. I don't even visit Yahoo much anymore and I use to when I was a kid.

Posted Using LeoFinance Beta

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They were quickly passed and out "teched". This is what is happening to Bitcoin as a network in my view. That will have an impact down the road.

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(Edited)

A market crash is a great way to clean the space. As you say there has been a lot of shitty business models in the industry which have thrived during this bull period that were destined to dissapear. Market crashes only make those companies/projects that survive stronger for the next bout. It's going to be interesting to see which projects will still be going strong in the next economic cycle.

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The consolidation is not necessarily a bad thing. We can benefit from it since stronger projects will stand out.

Also teams will look to improve upon what failed.

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Agreed, much garbage needs to fail and although everything on paper will go lower to do so for a while it is needed. I hope people who don’t hold own private keys learn a lesson also.

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Watch out for the human traffickers at hivefest. You wont know it until its too late. STAY AWAY! Beware, traffickers can be women or men! They will act nice until they dont. There is human trafficking going on around this type of crypto. I have witnessed it. They literally have attempted my murder and are trying to kill me with V2K and RNM. Five years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism ..... https://ecency.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem if you run into one of them you may want to immediately shoot them in the face. 187, annihilate, asphyxiate, assassinate, behead, bleed, bludgeon, boil, bomb, bone, burn, bury, butcher, cap, casket, choke, chop, club, crucify, crush, curb, decapitate, decimate, deflesh, demolish, destroy, devein, disembowel, dismember, drown, electrocute, eliminate, end, euthanize, eviscerate, execute, explode, exterminate, extinguish, finish, fry, grind, guillotine, gut, hack, hang, hit, ice, implode, incinerate, kill, liquidate, lynch, massacre, maul, microwave, mutilate, neutralize, obliterate, off, pop, poison, punnish, quarter, ruin, shank, shock, shoot, shred, skin, slay, slaughter, smoke, smother, snipe, snuff, squish, stab, strangle, stone, suffocate, suicide, SWAT, swing, terminate, torture, terrorize, whack, waste, wreck. You better fucking kill me.

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