Bitcoin Forum

Ever since Satoshi Nakamoto published the world’s first paper on bitcoin in 2008, many inquisitive folks have salivated at the ultimate promise of the  cryptocurrency: privacy.

Read full: http://www.coinfinance.com/news/why-the-recent-bitcoin-crash-is-normal

Privacy the ultimate promise?  Maybe that was the intent of the original devs but if that's true then they really didn't think it through very well

If privacy really is the ultimate promise of cryptocurrency, and I believe it is, then Bitcoin is pretty much out of the game.

Why do you think so?

i don't see any crash to be honest, just a small dump

A crash would mean something below the $100s mark. Small dumping of weak hands can be the caused of this decline in price.

Because it has a transparent blockchain. Why would I want to make my transaction history available to anyone who cares to look?

It is there to make sure that every transaction in the whole chain is "clean" at the least, and no double spending or whatsoever occurs within the entire blockchain. Well even if the whole transactions are transparent as you say, still people will have a hard time remembering all those strings of numbers for addresses and anytime they can change their addresses to a new one, so as to add another layer of security to their own holdings.

Because people is driven by greed. What is more important for bitcoin is the fundamental. If the adoption rate continues to grow, eventually at one stage, even when everybody is dumping, there will always be ready buyers to buy back even at a slightest reduce price and that will support the coin price.

Privacy is not the ultimate cryptocurrency. you need to read about how crypto is good for so many things.

yes its normal, up and down price its normal so if u smart u buy cheap and sell it when price up.. its easy getting money ;)

Every crash is not normal for any currency

I think it is normal because of the fake pump by excahgnes over the years.
it was bound to fall down.

You don't have to give any of your personal details to have an account, do you? Are there any restrictions to using bitcoin? Do you know my name from my bitcoin address? No. So it does it's job very well in that respect.

I thought the great thing about Bitcoin was supposed to be it widespread acceptance?

I don't see this yet.

Funny, I thought the main point was that it isn't counterfeitable.

I'm a complete newbie when it comes to Bitcoin trading and speculation, so bear with me. Is this REALLY a dump? Barring anything
crazy, it seems like a normal lifecycle to me. Think about it:

Stage 1: Bitcoin's infancy. Low dollar value, little hype, little mainstream adoption

Stage 2: Bitcoin bubble. Sky rocketing dollar value, all kinds of hype, increased mainstream adoption

Stage 3: Bitcoin bubble "bursts". Prices fall. Mainstream adoption continues to climb.

Stage 4: Bitcoin prices level out, higher than in its infancy but much lower than during the bubble.

It seems to me that we're in Stage 4 which, while not great news for traders cashing in on the rises and dips in the market, bodes
extremely well for increased mainstream adoption. I think part of the aversion to Bitcoin adoption has been its volatility. The very
thing that made it so attractive to traders scared the hell out of merchants. IMO if Bitcoin attains and holds a fairly steady dollar
value, more merchants and service providers will be likely to adopt it.

At least that's how I'm seeing it. If I am wrong, someone please let me know and explain to me why.

Cheers!

Cynthia

There is a saying in my country that goes like; you can learn an old horse new  tricks.
Every change requires time, and changing fundamental centralised financial system to open decentralised, where the rare few people cant make
provisions for doing nothing requires a bit more than just 5 years the bitcoin has now.

As far as I know the ring signature technology with monero allows for totally anonymous transactions without the need of a public ledger (blockchain).

The price is quite stable at the moment. Up or down a bit is quite normal.

it took a billion years untill people slowly started using dollars , it's only been a few years since bitcoin existed , just be patient. People will realise how revolutionary cryptocurrencies are and that's when we'll start seeing uptrends.

bitcoin is high volatile. believers, skeptic, speculators,investers are in and out.

I believe mainly here still goes back to demand and supply side. Don't forget every new coins by the miner to the open market have to be bought. And that haven't include coins by existing holder who decides to sell off. If the demand is not picking up eventually people will undercut each others price to sell lower. And that will continue as long as it doesn't go below mining cost. The only thing we can see in light is some news event by big companies to announce adoption or integration or we just wait for the next halving to take place when supply factor goes down.

and that is exactly what keeps bitcoin "running".

im assuming thats the goal. theres still plenty of time before us .. lets see what happens

Privacy and efficiency.

Crash from 1200$ seems pretty normal to me if you consider it a tulip like bubble that has popped once and for all.  :-[

Crash from $32 seems pretty normal to me if you consider it a tulip like bubble that has popped once and for all. :-[

(heard circa late 2012)