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The article starts out with: "The crypto world went into a full meltdown this week" I don't know. Look at a chart of Bitcoins price on a log scale: https://t

The article starts out with: "The crypto world went into a full meltdown this week" I don't know. Look at a chart of Bitcoins price on a log scale: https://twitter.com/JonathanBeuys/status/1524810429884661761 https://twitter.com/JonathanBeuys/status/1524810429884661761 To me, it does not look any different then it has looked for the last 10 years. Its a slowing exponential growth with a certain volatility. Nothing seems to have changed in the last week.

rco8786 4y ago
This is correct but the comment was about “the crypto world” which is no longer limited to BTC
- JonathanBeuys 4y ago
  Bitcoin makes about half of cryptos market cap. Ethereum makes another quarter and looks similar. Tether makes another 10% or so and is at $0.998. I find it hard to imagine that whatever happens lower down on the list of crypto projects can move the needle enough so we can come to the conclusion that "the crypto world" as a whole is in a meltdown.
cypress66 4y ago
People decide on a narrative ("crypto is bad and a scam" in this case) and they will see the world in a distorted fashion in order to fullfil their narrative. So they see a significant drop in price, but completely within the bounds of previous drops, and they see it as full meltdown and the ponzi scheme popping, because that fits their narrative.
polygamous_bat 4y ago
Ah yes, break out the log scale and the historical price. This is my favorite maneuver, break out the log scale and historical price chart to forget that a 20% dump over a week is just regular volatility for crypto.
- JonathanBeuys 4y ago
  Not to forget that but to show that. On a linear scale it is hard to see.
  - polygamous_bat 4y ago
    So your argument is crypto is having a full meltdown every other week/month? That is hardly the praise you think it is.
    - Handytinge 4y ago
      It's hardly a "full meltdown" if it's happening every other month, is it? At this stage, it's an expected range of volatility.

rco8786 4y ago

This is correct but the comment was about “the crypto world” which is no longer limited to BTC

JonathanBeuys 4y ago
Bitcoin makes about half of cryptos market cap. Ethereum makes another quarter and looks similar. Tether makes another 10% or so and is at $0.998. I find it hard to imagine that whatever happens lower down on the list of crypto projects can move the needle enough so we can come to the conclusion that "the crypto world" as a whole is in a meltdown.

cypress66 4y ago

People decide on a narrative ("crypto is bad and a scam" in this case) and they will see the world in a distorted fashion in order to fullfil their narrative. So they see a significant drop in price, but completely within the bounds of previous drops, and they see it as full meltdown and the ponzi scheme popping, because that fits their narrative.

polygamous_bat 4y ago

Ah yes, break out the log scale and the historical price. This is my favorite maneuver, break out the log scale and historical price chart to forget that a 20% dump over a week is just regular volatility for crypto.

JonathanBeuys 4y ago
Not to forget that but to show that. On a linear scale it is hard to see.
- polygamous_bat 4y ago
  So your argument is crypto is having a full meltdown every other week/month? That is hardly the praise you think it is.
  - Handytinge 4y ago
    It's hardly a "full meltdown" if it's happening every other month, is it? At this stage, it's an expected range of volatility.