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Who To Trust In Crypto Right Now? by brianphobos

View this thread on: hive.blogpeakd.comecency.com
· @brianphobos ·
$8.36
Who To Trust In Crypto Right Now?
![bitcoin-fire-yt-screenshot.png](https://ipfs.busy.org/ipfs/QmUXgC7K7fShVb2AgoggCLDniJbKMnGBUebLzJMFacoqFE)
During this brutal crypto crash people are looking for answers.  One of the big issue that I see is that a lot of the top YouTubers in the crypto space weren't around during the 2013/2014 boom cycle so they have never actually been through one of these hellatious crashes.   A lot of them continue to talk about technology they don't understand and make up technical chart analysis bullshit that is basically worthless. 

https://www.youtube.com/watch?v=6o8JQp-V9oY

### Don't Trust The Following People
1) YouTubers who weren't around during the last crash.  They might look at the pain on a chart but they didn't feel the pain and the pressure like myself and others did.  I can tell you it was more than twice as bad as what we have experienced so far.  Look at the chart from 2015 and crypto was seriously on life support.  There wasn't any ICO money to keep working on stuff for the most part.  At that point everyone was just wondering if Ethereum was just vapor ware at that point.   

2) Manbabies.   If someone doesn't have any bills to pay then their how theories on when to buy and sell aren't relevant.  Obviously it would be easy to HODL if you have no bills.  

3) Anyone who has pitched a crypto ponzi scheme.  The obvious people that most would think I'm talking about would be @trevonjb and @craig-grant but also don't trust someone like Sunny Decree.  The guy was in Bitconnect and a few other scammy programs but then tried to sweep it under the rug.  

4) Someone who was a fulltime crypto shill. Suppoman, John McAfee, and Ian Balina fall into these categories.  

## Look At The Data
There is no guarantee that history will repeat itself but it often does.  Bitcoin lost 85% of its value back in the 2013 boom cycle so $5,000 would be a 75% loss this time around and $3,000 is an 85% loss. It could certainly happen but we could also hold around the $6,000 level and confidence could rebuild.  Be mentally prepared for 90% loss on Bitcoin and 98% loss on altcoins from their highs.  Then a drawn out period where everyone is totally REKT and staggered.  

You can check the percentage differences from the All Time Highs on this website.   
### https://athcoinindex.com/

Hopefully it doesn't get that bad but it certainly could.   

## Who Can You Trust In Crypto?
 Ok I will give you one name besides myself who gives good information and doesn't fall into the categories mentioned above.   

## @boxmining

"But Brian you aren't even voting for his posts?"   That's right..... he has never voted for me and isn't really engaging in the community and using his voting power on others.  Mainly he is just dumping content here and not upvoting others.   Maybe let his YouTube ads play when you are watching his videos.   Seems like a nice guy but do you want me to end up looking like this over here? 
https://steemitimages.com/0x0/https://www.askideas.com/media/28/Funny-Skinny-Woman-Picture.jpeg
I have too many mouths to feed including my own!  

### Good luck in this market.  We might all get our teeth smashed in.  Only time will tell!  
<center><h1><a href="https://www.coinbase.com/join/529e26dcd2421b03c4000252">Earn $10 Of Free Bitcoin From Brian Phobos! &nbsp;</a></h1>
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<p>Thank you for reading my post and please consider following me <a href="https://steemit.com/@brianphobos">@brianphobos</a></p>
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@a-0-0 ·
# Sell your votes https://steemit.com/news/@bible.com/6h36cq
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@alexbeyman ·
$0.03
*Hellacious. Yes, it certainly has been. I remember a long winter after Steemit was just getting started where my earnings dropped below 1SBD per post on average and I think I was making perhaps $80 per month. 

I seriously considered quitting. But sticking at it set me up to reap the rewards last winter during that insane surge. Enduring one dry spell gives you the confidence you need to endure another.
👍  
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@brianphobos ·
$0.17
Yeah when STEEM entered a death drop that was extremely brutal and at that time I gave it a low percentage chance to survive.   It ended up coming out of it and somewhat confirmed that it could survive.   If we incur crazy pressure here now it could get pretty bad.   

I agree that going through the dry spell can prepare us mentally for a total beating.   I'm going to have to hustle crazy hard over here to get through this one if it gets worse.
👍  
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@builderofcastles ·
$0.03
I predict that the price of bitcoin will always go up... relative to zero.

Well, no, i take that back, technical analysis is analyzing charts from an exchange.  The rottin exchanges have a good chance of going to zero, and then the chart will be useless for charting, well because its dead.
👍  
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@brianphobos ·
Hahahh,   Yeah I honestly thought that people would have gravitated away from centralized exchanges a little more but it is tough because my experience with BitShares has been that when something is thinly traded it can blow through an order book pretty quick and you don't have wallet service so you have to really understand what is going on a little more.
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@chekohler ·
$0.05
Its so funny how the youtube shills have gone into hiding since december a few of them have tried to keep it going but eventually fell off and are all waiting for things to pick up so they can give us more botched technical analysis 

Honestly no one can predict where the price is going but statistically, the bear run cannot go on forever, in terms of when it will reverse no one really knows we all just hanging on and increasing our stakes. 

I just hope with the market bleeding cash we see more shitcoins and rubbish ICO's belly up so we can consolidate those funds into larger coins that are actually planning to be useful
👍  , , , , ,
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@brianphobos ·
You are spot on with what you just said.   I knew the ICOs would weigh on the market because there were so many of them and they promised so much that they couldn't deliver.  It was really infuriating to me.  Here is a meme I did about them as well.   
![ico-robot-meme.png](https://cdn.steemitimages.com/DQmWetPys5n98xgiwxph5Hm6AyQdFnnvqeyJzUPaN3HiJAg/ico-robot-meme.png)
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@chekohler ·
$0.04
LOL That meme is way too on point. I really feel you on it, i've gone through 100s of white papers and reviewed alt coins for both my steemit blog and my other blog and gosh some of them are terrible and those are the legitimate projects

Don't get me started on the pump and dumps that just build hype and plagiarise other projects white papers. We clearly had too much money floating around that so many of these crappy ICO's could hit hard caps so quickly
👍  
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@bronevik ·
$0.37
Bear run could last for 2-3 years> It did that in past.
👍  ,
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@chekohler ·
Well it may look like a bear run to most because we comparing it to the ATH's we've had in the bast but crypto has been overinflated we saw that with the whole tether issue 

I don't know if we will ATH very soon but I do think it will pick up on a run eventually. I say take your time, so i can increase my stakes each month little by little
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@cryptoninja1 ·
$0.03
Hey Brian, come visit my ranch near Cat Mountain, in the Saguoro Narional Monumnet. You can see my amazing cactus blossom photos here on Steemit. Do you have a girlfriend? I got 2 responses either: Does she have any cute friendss, or ... I need a wingman. Kind of a known dude in the Casino Del Sol poker room.
👍  
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@brianphobos ·
Hahah,  I can be your wingman.   I used to know a chick that was a blackjack dealer at Casino Del Sol.  But I don't play blackjack or poker.
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@cryptoninja1 ·
Not that, the poker room is a good place to meet chicks but ...fun game. Profitable, if you are smart.
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@debo4200 ·
good post boss i think the market will reverse anytime... only time will tell
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@brianphobos ·
It is possible and hopefully it will and get solid support from big money.
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@jesusisking ·
# Sell your votes https://steemit.com/news/@bible.com/6h36cq# Sell your votes https://steemit.com/news/@bible.com/6h36cq
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@kenanqhd ·
$0.05
I don't know what to think these days. To be honest, nobody really gives a shit about these coins if the price isn't going up. Now that bitcoin lost its hype, no one gives a shit about p2p electronic payment systems.

What can really be a catalyst for growth in cryptocurrencies is a severe scandal in the financial sector. If people are investing in coins in order to become rich or sell it at a higher price, it just goes to show that our existing financial system is adequate for most people in the world. Investing in bitcoin so that you can sell it for more USD is a statement that fiat currencies are more valuable than these coins.

@boxmining has posted several videos in the past about Steemit. I am not sure if he does these days cause I don't follow him but he is somebody that I think is reliable too.

I'm just focusing on myself and my own skills. I don't look at the charts too often anymore. My gut is telling me that we probably won't see growth for a while and it is best for me to just build other streams of income and improve on my skills.
👍  , ,
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@brianphobos ·
$0.07
The thing that was weird is we were saying a similar type thing after the 2013 / 2014 crash.  That the world wasn't ready for that type of currency to be a payment system and how the tech would need to improve.   Talks started in early 2014 about the Lightning Network.   Four years later I hear people saying the same thing and I just want to puke.   

Not much really improved over 4 years and Vatalik actually called that fact out as well at one point.   He even said that we had regressed some in certain instances which was true.   

You are right that the mass majority of people who go in don't care about this stuff unless the price is pumping hard.   Like within a month people were suddenly gone with their heads stuck in the sand.   With each boom more people will come and when the tide goes out only the strong will stick around for the next boom.   

I think having other streams is important for sure. Unless someone has like $500,000 in crypto and is able to really focus fulltime on earning with this stuff.    

I have really neglected my ecommerce business.  I'm just burnt out on it to be honest but I need to focus on it and get my numbers back up over there so I don't run myself into the ground with all the crypto stuff.
👍  
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@kenanqhd ·
$0.03
I don't think it is about the tech. I think people will care about cryptos once our existing financial system becomes unbearable to live in. For example, people in Zimbabwe are paying a premium for Bitcoin over there but it isn't like they are saying "I hope the price of Bitcoin skyrockets so I can sell it for more Zimbabwean Dollars." 

I think most people are still fairly comfortable with the existing financial system they can use and buy stuff with that trying to transition to some experimental financial system isn't really appealing to them.
👍  
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@mdmizanurrahman ·
Thank you sir good informatin is bitcoin.Thank you @brianphobos![U5drx_NFe_Q4_Nn_YGEb9rq2_V47_X6_Yk_AQsm.gif](https://cdn.steemitimages.com/DQmd4xRNdBUMmxjmjMeKMuuBeAnDjhvXZsmXFJWak479T8g/U5drx_NFe_Q4_Nn_YGEb9rq2_V47_X6_Yk_AQsm.gif)
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@sroka87 ·
$0.05
Price isn't a good metric for what is going on the cryptosphere right now.  The trouble was it got inflated so much in December/January that people thought that was the baseline.  ERROR!

Looking at charts, the price is still roundabout where it should be if there wasnt the anomaly of Dec/Jan uber-pump.  

What is really promising is that a lot of projects - Bitcoin, Ethereum, Monero, IOTA, etc, etc - have put there heads down, kept developing their projects and infrastructure, and improving the overall ecosystem.

Sooner or later, these projects are gonna be easy to use, secure and increasingly scalable.  Then adoption will creep up.  Regulatory issues are slowly becoming cleaer.  Then more big money will start to pour back in.
👍  , ,
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vote details (3)
@brianphobos ·
That is true but I think that Bitcoin and Ethereum are going to have a lot of issues trying to scale as they have shown in the past.   Those become a broken record when hearing about the improvements that are "around the corner."  With Monero it has certainly cemented itself into crypto history and will continue but I think progress will be slow there.   IOTA and the other DAGS have promise and is certainly experimental in a lot of ways but they are intresting.   I hold small positions in both IOTA and Nano.  I missed some Byteball airdrops so I don't have any of that.
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@charitybot ·
Except Tether/Finex printing is what got all coins off that dead pulse floor in the first place, if their impact is removed completely then this is still higher than what we should be trading at, which I'm guessing is where we might go.
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@stokjockey ·
$0.13
@brianphobos I Trust EOS San Diego and I listen to his nightly videos about EOS and being POSITIVE...............Kent seems like a Good Guy and I like how he puts things into perspective and I am also looking forward to the $100 per Token EOS party at the Del Coronado in San Diego...........
https://www.youtube.com/watch?v=aIMI9weIV7w
👍  ,
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vote details (2)
@brianphobos ·
A $100 Party would be sweet!!!   

The FUD is getting hilarious out there for EOS.  While they are causing FUD we are collecting Air Drops! Hahhaha
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@isacoin ·
because if you get paid its not a scam
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@isacoin ·
is EOS to $100 different than STEEM to $100?
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@susanne ·
$0.11
You! I trust YOU! :p
👍  
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@brianphobos ·
Yay!!!!   Thank you for your support!  :-)
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@zoidsoft ·
$0.03
>Manbabies. If someone doesn't have any bills to pay then their how theories on when to buy and sell aren't relevant. Obviously it would be easy to HODL if you have no bills.

Don't know if I fall into this category or not.  Back in 2008 I sold off most of what I owned because of the financial crash so I could continue to run my [software business](http://www.astrology-x-files.com).  I managed to get my bills under $800 / month.  However this decision left me homeless (I was in Las Vegas, NV area at the time).  In late 2009 I was forced into bankruptcy and because I was unsure how this would affect my business arrangements, it was around early 2010 when I first encountered bitcoin.  I was too immersed in my own software projects at the time so I thought it was just another PayPal and didn't investigate further, but a few hundred dollars invested in bitcoin then would have set me up for life.

The situation taught me how to live far below my means and I continue to do this to this day even though it's no longer necessary for me to do.  Bitcoin encourages a saving mentality, but because fiat feels like it evaporates in your hands, you want to spend it for something that holds value.  Now I'm semi-retired because of a company pension I was vested into for over 20 years and have been using the dips to buy more crypto.  I become eligible for social security in 2023 just about when the government is likely to say they have no money left.

I'm thinking longer term here.  This technology isn't going away.  I think we're seeing attempts at mass adoption.  What happened late last fall and the current aftermath seems to be like what happened in 2014 - 2016.  I have reason to believe that the next adoption attempt will be 2020 - 2021.  If the technology still isn't ready to scale, then it will drop back like it's doing now, but probably at a much higher price (maybe 10x what it is now, just as we are 10x from what it was in 2013 - 2014.  An 87% correction (about $2500 / bitcoin) as Tone Vays says wouldn't surprise me, but it won't stay down for very long.

My sense of time is not what it used to be.  Seems like everything is going by so fast.  Months pass like days.
👍  
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@brianphobos ·
$0.04
Nah you don't fall into the man baby category.  I know guys in their 30's who have their parents paying for everything.  I know a guy who is 36 who admitted he has never bought toilet paper in his life and that was a guy with a Masters degree in Computer Engineering.  

You have thought this all out very well and I feel like you have a very good grasp of what could likely happen and then what we could see with the next surge.   

The Bitcoin halving in 2020 could be the next major catalyst to cause a mind blowing run.   I hope we don't have to wait that long but we might have to.  

Even with STEEM we experienced a 98% loss of value from the highs in mid 2016 to the lows in early 2017 and then it surged again.   Sometimes stuff has to go so low in people's perception that they throw Vegas gambling type money at it that they are truly willing to just take a shot in the dark in a way.    

The fact is we will 100% have another crypto surge and with each boom and bust it confirms its strength and longevity and becomes "less risky."  I feel that there are certain cryptos that have sort of became reserve assets that have secured their place in history.   

Bitcoin, Litecoin, Ethereum, Monero ...... but then also EOS, Bitcoin Cash, Dash and a few other have likely secured their future as well.
👍  
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@zoidsoft ·
>Bitcoin, Litecoin, Ethereum, Monero ...... but then also EOS, Bitcoin Cash, Dash and a few other have likely secured their future as well.

I noticed you haven't listed Steem as secured.  In addition to most of those above (except Monero and Dash), I have a little Bitshares too in case governments start shutting down exchanges out of panic.
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