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Too bad Gavin didn't choose to compare BSV chart against ZCash & Iota. It's not like there is a real demand or future for ZCash or Iota.
It all about the tech and the superiority of BCASH! Craig is Satoshi! lol, that guy!
This video is generally used to show how Steve Jobs was tactful at the right times.
https://www.youtube.com/watch?v=lQadOr9B7Qc
It also shows that the best tech doesn't always win. Customer service, usability, accessibility, design, user experience all of those things matter.
It's probably because... Nobody uses IOTA. All speculation happens on exchanges and speculators aren't even remotely interested in doing real transactions over IOTA chain. No wonder why they weren't bothered by crippled state for so long
A dev who realize that tech is not everything in a project, breaking news
Until onramps and offramps are more prevalent and businesses start taking advantage of crypto utility, speculation will remain the defining factor in every coin's price. Otherwise we'd see coins like Nano nearer the top, Iota would have dropped position when it stopped working, etc.
When utility finally does become a majority factor, the top ten will look quite a bit different.
IOTA has lost a lot of its market cap relative to other cryptos, it hasn't fallen off the cliff but confidence has certainly dropped.
Boy Alt Coiners have gotten salty as shit. It’s like walking into an old folks home during corona up in here.
A relative few cryptos are actually used for stuff. Most are entirely hype driven.
But the idea of the cryptocurrency revolution is nowhere to be found, not even in here. All people talk about is speculating.
And honestly, I don't think the idea of a cryptocurrency revolution is workable anyway. It's not the fact that fiat money is shit and easily exploitable, printable and otherwise crap that's the problem - capitalism is the problem, and cryptocurrencies are still capitalist to say the least.
If it was about the tech we would see ETH number 1
edit: downvotes but no rebuttals. Too much salt.
Adoption will be about the tech but also about good marketting and a network effect. Pre adoption price will not generally be about the tech. Not every good project has a future and plenty of legitimately brilliant ideas are bad investments. There is also a lot of fluff and hype driven nonsense which will moon before your more solid choice.
Technical merit doesn't matter in crypto. Hype sells, and also bag holders rarely fully capitulate which somewhat gives a floor to the price.
Iota has abandoned the data market place, Qubic, failed to deliver coordicide years after it first claimed. But it still floats around near the top 20. They could turn it off for another month and OPs charts still wouldn’t diverge.
The so called crypto traders don't give a shit about the fundamentals of the coin they trade but eventually they will. Market will force their hand. The idiots only think in terms of buy/sell/long/short xyz coin instead of thinking in terms of scalability/privacy/featues offered by the coin.
Charts like this are really stupid, cherry picked a rally in the middle of 2019 as a starting point.
I've actually gotten quite pessimistic on crypto. BTC is not doing what it was designed for. Nothing is really posing a threat to banks. The speed of development is depressing.
That being said, I still make money speculating on speculative assets. Not sure any of this shit is worth more than the hype it can generate.
An interesting sentiment from Gavin - I've recognized that the markets of the coins ebb and flow together, but never put the thought about how that ignores the separate tech in each coin so far to the forefront. It must mean that it's still early.
Don't forget this, everyone:
Bitcoin loses HALF of its value in TWO-DAY plunge (March 13, 2020)
The cryptocurrency briefly dropped below $4,000 Friday after starting the week above $9,000.
https://www.cnbc.com/2020/03/13/bitcoin-loses-half-of-its-value-in-two-day-plunge.html
Nothing major happened on the BTC technical front around March 13, 2020 either... Markets.
He is comparing charts of two mostly irrelevant altcoins, which have no real use cases other than speculation. Or are there any merchants accepting them for payments?
As a different example, the BCH vs. BSV hashwar did have a major impact on the whole crypto market, collapsing prices of cryptocurrencies which were even not directly involved in this ordeal.
The market works well. It comprises all people, and of course not everybody understands money, technology or even want to. But these people are in all markets, so no big deal.
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