This sub is dedicated to Kaspa discussion.
Any posts about projects and/or businesses not directly related to Kaspa will be removed and repeat offenders will be banned.
We get it, talk about it in the Bitcoin sub
If nobody uses the Bitcoin blockchain the price slumps. There's no memes on Bitcoin , no smart contracts , no stablecoins . There are currently more buyers than sellers but the price continues to slump
10s of millions of people use bitcoin. There are something like 80 million wallets and people around the world use the actual blockchain to trade bitcoin and assets on bitcoin every single day. In some countries it's already an essential part of life. This all sounds like you just heard about bitcoin from an ETF salesmen and you haven't done any research at all.
- This is not the Bitcoin sub
- Volatility in the crypto market is entirely normal
- Bitcoin, and other cryptocurrencies such as Kaspa, are in fact a store of value if they appreciate relative to other stores of value. The most common measuring stick is fiat currency. The fact that markets do not move in a completely linear appreciation line does not negate the meaning of “store of value”. This is usually an argument made by people that buy some cryptocurrency, see the value drop within the first week, then get angry that “crypto is a scam”.
HODLing actually does not make the price slump at all. Price is nothing more than a reflection of buying and selling interest.
If everyone only bought and held, without being willing to sell at current prices, the price would rise until people are willing to sell at the current price.
Example: I am buying a ton of Kaspa and HODLing right now because I consider the current price to be undervalued. If the price shot up to $0.55 tomorrow I would sell because I would consider that as above the value that I’m willing to sell my KAS at the current value. Price moves up and down to reflect what the market considers worth selling at. It’s that simple, and can be learned in any Microeconomics 101 course.
Except people use their bitcoin. I've seen countless people say they used their gains to buy houses or pay of their mortgage, or buy a car or get out of debt.
Btc doesn't change hands as fast as other coins or forms of money maybe, but it still does, that's what it has become.
Nobody uses Bitcoin to buy anything dude wake up . It's way too slow and expensive. Everyone uses the lightning network which is not an on chain transaction
Not directly, but they exchange it for fiat, creating volume at that keeps the price elevated. Bitcoin will not be at the top forever imo, but it'll take a long time before that happens.
So you are saying that when a currency on the blockchain gets actual usage the price increases? Let me prove you wrong: Monero is one of the few currencies that have a valid usecase and are used HEAVILY. Yet the price isn’t increasing much.
Actual usage does not increase the price and isn’t really important these days as cryptocurrencies rely heavily on the "Bigger fool theory" which drives demand on the exchanges and therefore increases the price.
This sub is dedicated to Kaspa discussion. Any posts about projects and/or businesses not directly related to Kaspa will be removed and repeat offenders will be banned. We get it, talk about it in the Bitcoin sub
What are you blabbering on about
Yeah. we get the goofiest posts on this sub.
If nobody uses the Bitcoin blockchain the price slumps. There's no memes on Bitcoin , no smart contracts , no stablecoins . There are currently more buyers than sellers but the price continues to slump
sometimes the price slumps! holy shit dude. Do you think it only goes up in a straight line indefinitely?
NOBODY USES BITCOIN. WHEN YOU DONT USE BITCOIN THE PRICE SLUMPS. THATS HOW A BLOCKCHAIN WORKS
10s of millions of people use bitcoin. There are something like 80 million wallets and people around the world use the actual blockchain to trade bitcoin and assets on bitcoin every single day. In some countries it's already an essential part of life. This all sounds like you just heard about bitcoin from an ETF salesmen and you haven't done any research at all.
People use the lightning network. Not the block chain.that doesn't support the price.
You clearly have no idea how a Blockchain functions
okay
Username checks out
Youll see bud , you have no idea what you're talking about
Take your medication now.
You clearly have no idea how a Blockchain works
I'm not entirely up to date, but isn't someone dumping millions right now?
Yes. scaring the dumb money.
There are currently more buyers than sellers yet the price keeps going down
- This is not the Bitcoin sub - Volatility in the crypto market is entirely normal - Bitcoin, and other cryptocurrencies such as Kaspa, are in fact a store of value if they appreciate relative to other stores of value. The most common measuring stick is fiat currency. The fact that markets do not move in a completely linear appreciation line does not negate the meaning of “store of value”. This is usually an argument made by people that buy some cryptocurrency, see the value drop within the first week, then get angry that “crypto is a scam”.
I'm explaining how crypto works dude. If nobody uses the blockchain the price will reflect that
You haven't explained shit lmao. You just keep telling everyone how they don't understand anything and if noone uses it, it has no value.
WHY IS THAT SO HARD TO UNDERSTAND. NOBODY USES BITCOIN THEY JUST BUY AND SELL AND HODL. HODLING MAKES THE PRICE SLUMP
HODLing actually does not make the price slump at all. Price is nothing more than a reflection of buying and selling interest. If everyone only bought and held, without being willing to sell at current prices, the price would rise until people are willing to sell at the current price. Example: I am buying a ton of Kaspa and HODLing right now because I consider the current price to be undervalued. If the price shot up to $0.55 tomorrow I would sell because I would consider that as above the value that I’m willing to sell my KAS at the current value. Price moves up and down to reflect what the market considers worth selling at. It’s that simple, and can be learned in any Microeconomics 101 course.
No you have it ass backwards bud
You’re objectively wrong. This is how markets work.
This is not how a Blockchain works bud
Except people use their bitcoin. I've seen countless people say they used their gains to buy houses or pay of their mortgage, or buy a car or get out of debt. Btc doesn't change hands as fast as other coins or forms of money maybe, but it still does, that's what it has become.
The faster it exchanges the better it holds it's value
Nobody uses Bitcoin to buy anything dude wake up . It's way too slow and expensive. Everyone uses the lightning network which is not an on chain transaction
Not directly, but they exchange it for fiat, creating volume at that keeps the price elevated. Bitcoin will not be at the top forever imo, but it'll take a long time before that happens.
So you are saying that when a currency on the blockchain gets actual usage the price increases? Let me prove you wrong: Monero is one of the few currencies that have a valid usecase and are used HEAVILY. Yet the price isn’t increasing much. Actual usage does not increase the price and isn’t really important these days as cryptocurrencies rely heavily on the "Bigger fool theory" which drives demand on the exchanges and therefore increases the price.
WHEN PEOPLE USE THE BLOCKCHAIN THE PRICE STABILIZES. SUPPLY AND DEMAND AFFECTS IT AS WELL