A lot of "we have to"... Using your own words: Why?
What happened last year was a bubble. Same happened in 2013 and will happen again. When the large majority of ppl are on the move with something like BTC rest assured it is ONLY a matter of supply and demand and typically extremely highly speculative. Now... Why should that be regarded as something wrong? Imo it's just another motive.
Frankly... I personally welcome the volatility as it gives me 10-fold amount of opportunities to trade these markets.
The funniest is to read news like "is ETH dead" and then look at someone drawing conclusions based on intraday hourly charts.
Now... I think the crypto environment (hate the word ecosystem) is only at it's early "baby stage". All the practical developments will happen through a natural urge to develop something new. It won't happen by "we have to".
you probably prefer McAfee statements. I like the way you comment, so I will follow you so I can learn more from you. :)
I appreciate your comment and I see you have a point here, though I disagree with some:
the term "we have to" shows my suggestion, it's not a fact, not a must etc. it's the way I believe behaving will help the ... ecosystem!
and the ecosystem:
crypto and blockchain have brought us new environment with too many parts and members and players interacting each other. there are certain rules for this new atmosphere and many are yet to be discovered, so I like to call it an ecosystem.
I agree, chaos is a ladder! I do trading myself. maybe I missed explaining the problem: some are trying to become rich, only HODLING it's possible, but it's not helping the crypto thing! because once they get wherever they want, they will become the seller-push to bring it down again. they don't adopt the technology. it's not BAD, but it's not good either!
Thank you for your reply.
McAfee represents the ultimate bull for me. For his vision to become reality a similar technical bubble vs the long term trend needs to develop as was seen in 2012-2014. All ok and to some probability possible for it to happen, but rather than counting on it I prefer to take a tad more modest approach regarding long term trending for the expected value. Even in the modest scenario most probably over 10% monthly returns even for holders sounds like a total abstraction to anyone entering this world especially from trading / investing into more traditional asset classes :D
McAfee delivers one solid key fundamental tho. The global banking system is imo already practically belly up. Bankrupt. That means that institutional money will sooner or later heavily allocate into cryptos (most probably the few liquid ones) and when that happens we are very potentially dealing with a situation McAfee is basing his vision on.
great explanation, now I know more about how you look in to crypto.
I still prefer to see people adopting the technology, in their life and business, rather than holding crypto for speculating. there is nothing wrong with it, like holding stocks at NASDAQ to become rich, while it helps the companies developing faster, too.
I'm not with McAfee... honestly...! neither technically nor fundamentally!
anyway, glad to meet you here, we will keep contact hopefully