Crypto market was green.
The blockchain activity seemed to disagree.
Who wanted mainstream in?
The chaos of the cleansing still seems to shake up the Crypto currency market. Sometimes parts go into the green, while others crash hard and the other way around. Short term profits and then some losses being made. Is the futures market acting as a predictor influencing the real one into a crash? That talk about the cartel manipulating the value of Cryptos comes to mind.
Well, it would need to have a lot of bankers money available to be able to do so. As if the cartel had an ongoing supply, almost as if it was created through debt constantly. Yes, I know, it is how the Euro, USD and so on are created. With interest on that money created through debt making it even worse. Because more newly created money through debt will be needed to pay for the interest alone.
This is the dark force behind that thing many know as "Everything is getting more expensive!" Or coming from the business side as "We will have to make cuts to be able to produce cheaper." While goverments will privatise what the collective build up together, in the meantime making cuts. And invent new ways to tax people and or raise the taxes that already are there. Because, well, you know, devaluation, it happens and is going at lightspeed.
Wont Cryptos reflect this?
Well, I remember some Bitcoin promotors telling their fanbase to have mainstream come in. At that time I felt strongly opposed to this idea. Was Bitcoin, and those that genuinely forked into a substantive unique Crypto, not to be a separate system for the movement of value? Basicly it was peer to peer electronic cash, right...? The old debt based banking monetary governance {BMG} system would become obsolete.
Why then get the BMG in!? Basicly that would mean devaluation would come flushing in with it. Pumping lots of that worthless crap into the Cryptos realm would be like pumping air inside a balloon beyond its stretching capabilities. At some point in time this would have to lead to a burst, after a kind of Crypto gold rush perhaps? Well, at some point this did seem to have backfired, creating a downfall of close to 80% and more. Great idea getting mainstream debt carrying devaluating money in.
The huge purgening.
Basically, as far as I see it, what is happening right now inside the Cryptos realm is false air getting pushed out. You know like when you breathe in too hasty and need to release the gas in a burp. Happens while drinking a lot too. Just tapping a baby lightly on the back will have it release a milky burp. Sometimes accompanied with some puke. (There is a kind of resemblance with beer drinking male adults, I'm fully aware of that.) And in some ways this analogy fits the baby that Cryptos realm still is.
Therefore what is happening right now is an almost natural phenomena. It is a cleansing out of a the fake virtual value that has gotten pumped in since november 2017. And the banking monetary governance system does not even have to worry about any competition comming from the Cryptos realm. It seems it was able to ruin itself by listening to those who wanted mainstream in on it. Yeah, the banks, bring them in and why not multinationals, mainstream media and the governments too?
End of the alternative?
Well, it seems the Cryptos realm experienced a premature celebration yesterday. And when I looked at the blockchain activity I did see some bad omen. As there still is, especially for the so called privacy kind of Cryptos. News spreading FUD {Fear, Uncertanty, Doubt}, as usual though, but now targetting Cryptos that can do stealth transactions. And their transaction rate dropped dramaticly overnight...
Sudden jumps in the amount of blockchain transactions do tend to correlate to the Crypto market prices. And again a Crypto like Dogecoin, DOGE, is one of the more stable performing ones, just like Litecoin, LTC. But their price on the market is being dominated by that of Bitcoin, BTC. Even though BTC was losing its overal market dominance, lately it did recover a bit.
Are we there yet?
As far as I can see the devaluating influence of all that fake virtual value that came in between november 2017 and januari 2018 is still doing its thing. Many rubbish get-rich-quick (piramid) schemes and ICOs {Innitial Coin Offering} have blown up the Crypto realm balloon past its inflation limits. It seems that the huge purgening is still an ongoing proces. A kind of reset, one might state.
To regain trust in Cryptos will be a tough job, I think. And I hope there will be a kind of Crypto value index that represents an interchange format. This would be a symbolic value that is a weighted average of say the top 100 Cryptos on the market. Also bankers money would be exchanged relative to that symbolic Token value. It would be a much more stable way to represent the Cryptos. Maybe call this indexed average weighted Crypto symbol the Global {GBL}.
Lose the dollar influence.
This is one of the reasons I suggest a Crypto index average weigted symbolic token like the Global {GBL}. This would have Cryptos their value expressed in GBL, no longer in BTC, or worse in USD. Even EURO, USD and any other devaluating bankers money would be exchanged relative to the GBL. Imagine oil prices starting to getting denominated in GBL. Would a blockchain operating system like EOS not be great to start this?
It seems improbable that the so called fiat money devaluating influence on the Cryptos market can be pushed out again. Even FaceBook is going to let in Cryptos related advertising again on its platform. Yet there is a way to make the Cryptos realm become more distinctive substantive. Up to a point where it will start to be used without constant swapping back and forth to bankers money.
The person on top of the mountain did not fall there though. And all we, in the Cryptos realm, have to do is imagine us being on top of that mountain. Following the path that will reveal itself to us, to get there.
May the Cryptos be with us!
Is there a correlation between blockchain activity and the market movement?
Screenshot take at http://blocktivity.info