Bitcoin Forum

The fears of a hard fork were bringing clouds on the bitcoin price, with some people planning to short or go back to fiat, but those fears are now cleared after BUcoin collapsed. Now Core can keep doing a good job keeping our BTC safe, the price will keep organically growing, and let's hope that miners start being reasonable after this and adopt segwit, but with or without segwit price will keep going up because bitcoin is still insanely undervalued.

But dont we forget why Segwit and BU are there in the first place? Because Core isnt good enough right? And when the possible improvements like BU fail bigtime it isnt really positve?

How do you come to this conclusion? It is basically impossible to value bitcoin, so it could be massively overvalued, or undervalued.
I don't really see too much to suggest that it is used often enough to be worth $20billion or more.

I don't know a single other person who uses bitcoin, and when I try to use Bitcoin, I am usually disappointed.

Core is good enough: Price keeps going up under Core dominance and our coins are safe and the network doesn't break, so yes it's positive that BU has failed.

Segwit is good enough, it's just miners trolling by not activating it, their fault not Core's.

What is disappointing about it? Either it works or it doesn't. And that fact that it has arrived at this valuation and it's still a relative obscurity means there's a vast amount of headroom left. Or it'll flop fatally.

You are being overly focused on internal issues.

People buy bitcoin for economic reasons. At present the Fed is raising interest rates - they raised in Dec 2016 and they just raised today. That means a stronger dollar - and that usually means other currencies drop against the dollar. Nothing to do with Core v BU at all!

that sounds like traders, not users.

how many traders are there versus users? how many people pay attention to reddit and here? maybe more than a few don't have the slightest idea what's going on.

it's always been a bluff and it's gonna continue being one. maybe that's enough to continue damaging confidence but i think it's gonna pan out like the fear of the chinese market. the forkers will prove to be toothless eventually and be ignored no matter what they do.

FED has very hawkish communicate,thay want bring back rates to 4%,emerging currencys will lose to dollar including yuan,on other hands some money from stocks may appear on btc market
All crypto is pump and dump dash went to 0.08 btc with no real reason

It is not because core is not good enough,the software needs to be updated and since there are more people into bitcoin the limit of 1 mb has to be updated so as to include the current traffic.The core will come up with a good solution to resolve all those and i hope they will come.

There definitely needs to be a solution to the backlog of Bitcoin transactions, just not BTU, NEVER BTU!

Core is the best team in the game. It is all miners fault. Miners want more money, that's why they want BU, so they can control the blocksize and everything else. BU is shit and doesnt work. Miners activate segwit or we have 1mb forever.

with all the drama, fights, debates and all the stalling that is going on we will not see any change for at least another year. things will remain the same way as today with a big backlog and the same block size and fees growing and price moving up as always :D

we may even see $3000 before any solution for block size is found and implemented.

Probably a consequence of BTCBTCBTC mining being controlled by a few huge companies. If it was the community that is still at hand maybe we've already adopted a solution way back earlier.

Too early. Have a look at the graph:
https://cdn-images-1.medium.com/max/800/1*oeskvXPdI0gHz4sVWS-Mvg.jpeg

it might have looked like the BU nodes are switching off after the discovery of the bug - but now they are back and there are even more of them.
Also you need to take a peek into https://www.reddit.com/r/btc/ - they are not giving up.

Applies to users also if they only watch the price swings going down.

There is a lot of hate on for BU because of the perception that they are trying to kill or fork Bitcoin, but that's not true.  BU doesn't want to damage Bitcoin any more than anyone else; but they can see that Segwit is not going to fix all the scaling issues.  Yes, SW will help, but there is a lot more required than just that.  Opponents of BU are spending too much time ridiculing the proposals instead of seeing them for what they are - an attempt to address the block size issue long term.  A not-insignificant amount of people are demanding a more complete scaling solution dealing with block size, and as long as Core chooses not to address those real concerns, the community will remain split.

If Core and BU were to stop the attacks and combine efforts, with each finding the faults of the others and then working on solutions to those faults, this whole thing could be solved.  Instead of just pointing out problems with the solutions from either side, the "sides" should instead put in place safeguards to deal with the issues raised.  All the disastrous consequences that are raised as concerns could be addressed beforehand, with the exception of the chain split.  A contentious fork should be avoided - but not a HF.  HFs will happen, and instead of just avoiding that issue, we should instead focus on how to limit bad results if things go sideways (as a result of any solution).

Bitcoin is dying from lack of scaling - and egos on both sides are getting in the way of progress.

And all this mudslinging is not helping.

when BU (bitcoin unlimited block size can release)
i think if bitcoin unlimited release transaction is fast not much and wait unconfirmation transaction, can incraese bitcoin price
but i think still very dificult if until reach 3000 dollar

Core has always worked great for me.  Moved thousands around quick and fast with small fees.  MUCH smaller than traditional banking still.  Bitcoin is a great store of value and transfer protocol.  May never be a true currency with 10M transactions a second but doesn't need to be - layer on top of it for that.  It seems to be a good settlement/money movement system IMHO.

The only times people really complained it seems is when they misuse it with no fee, or when people are purposely spamming it to make points like BU users have done at times?  Read all that though, as never had delays or issues here.

Well look at it now, even if the bitcoin unlimited closed down 70 percent of their nodes due to the bug we still saw a major drop in prices as I think users are all really affected by the recent news of these forks. Another factor to consider is the fact that a lot of well traded altcoins are moving up, most of them have all gone up by half of their prices so people might be riding that out first then move back to bitcoins.

But in my analysis, there are group of traders meant only for altcoin trading and also most of the traders are having separate capital for altcoin trading and for bitcoin trading so they are not messing up at the same time they are not waiting for one opportunity and hence they do not need to move funds here and there when opportunities are possible.

Yes that is true, however that is causing the drop too. Since people are really skeptical about what will happen to bitcoins, people tend to move away from it temporarily. The altcoins only traders catches this opportunity and pump coins they want and this looks like a guiding light for people moving away currently out of bitcoins.

Really?  3000 USD just because of the 'BU disaster'?  How can you come up with none sense such as this?  I mean I know you're excited and all, and that you want Segwit activated but if the 'disaster' is what really makes you think that will make BTC surge to 3000 USD, then you need to get your head checked.

Maybe OP read about Vinny Lingham's blogpost on medium.
Vinny himself wrote that a price of 2000-3000USD wouldn't be impossible if nothing really shitty (like a contentious hardfork for instance) happens.
So do you say that Vinny was publishing nonsense as well? That guy had been on spot very often in the last few years!!

Maybe $3000 is possible but not because of  the "BU disaster". I agree with you it doesn't make sense.  :) ETF decision is a non factor already and we have proved it. $3000 is achievable for me because I think the positive effect of the ETF decision is that bitcoin has open doors for a lot of speculators and investors and maybe looking at bitcoin market as a good portfolio to put investment with. So a lot of cash will flow to bitcoin ecosystem, so maybe at the year end, we are knocking at the door with $2000-$3000 in sight.

First you say that the ETF decision is a non factor, and right after that you say that the $3000 level is achievable due to the positive effect of the ETF decision. What is it now?

The speculators and investors from all kinds of institutions that you are referring to, are purely interested in this ETF. No ETF means no money from them flowing "into" Bitcoin. I think you either phrased your post in the wrong way, or you simply don't know how things work in the market, because you are giving opposite signals.

As soon as Bitcoin is looking up, the traders will start flocking to Bitcoin again.  Many people who buy altcoins, especially the flawed but well marketed ones like DASH, are quite naive newbies who don't realise that Bitcoin will continue to be the strongest cryptocurrency for a long time, and if they want to change it they need to contribute to sides which argue about where to take its open source code.  I think that after the scaling solutions are dealt with and the fear of BU is past us, I do agree, Bitcoin is on its way to the top.

With the effect of bu and segwit it may happen that the price of bitcoins may slown down , it s major drawback for bitcoins.

Yes it has a negative effect on the price of bitcoin. We already saw it when there was an imminent hard fork looming. But since the issue has been forgotten the price is slowly recovering at $1100-$1200 now. I hope there is no news that will impact the price of bitcoin right now because the price really looks good and $3000 is in the horizon.

It is not the HF that pulls down the price of Bitcoin, HF is healthy if implemented the right way.  It was the FUD spread around to pull the price of Bitcoin and stalled it.  I can't see $3000 dollar for now.  Since the mountain of $2000 had not been leveled.  Let us see if Bitcoin will break its recent ATH first before saying anything that looks like an exaggeration.

Yes it is only FUD about HF that pulled down the price because we may not see HF in near future or never.  ;D

HF can't be healthy if there will be network split which is quite likely due to block size debate between core team , BU team and many others.

It is all the speculation around the HF that takes the price down. In this case, it can only be an unsuccessful HF because the majority of the community stands behind core, and a very small minority (but with just enough power to initiate a fork) supports BU. It's a chain split that gets the community and traders worried, and rightfully so. BU is an attempt to take over Bitcoin in a hostile manner.

Exactly. Those FUD are like a plague in this forum and thread after thread how bitcoin is dead. That's why the price went down hard but thank God it has recovered. At least $1300-$1500 is good enough. And let us see where would it take from there. Of course we all love to see hitting $3000 but I doubt it will happen for now.

This FUD had solid footing when BU pushers recruited antpool and suddenly left other update options like Segwit behind. It also happened in a good moment, when the price has been peaking for a couple weeks.
If Roger and friends are smart, they had buy orders ready to catch all those falling coins the sheep threw their way soon after their antpool announcement.
We can catch breath for a while, but the block size matter remains unresolved.

$ 3000 this year sounds a bit exaggerated right now, it would have to give a lot of very positive news that would give security, like finally fixing the issue of scalability, a big increase in adoption ... or a bubble, which it's advisable. In contrast, $ 2000 it seems a goal that can be reached, if the needed conditions are met.

Even many good news can not push the value in $3k because i think its a long journey again to see that price and i think we can just see if BU disaster was done we will see that the price of bitcoin movement will be normal movement like few months ago..  the maximum price for now in my own speculatioln the possible price we can touch is $1,500 this value is most possible than $3k..

a massive demand and adoption is not going to magically appear out of nowhere to push the price up to $3000 (150% in 8 months) just because a stupid FUD goes away.
when the FUD clears, price will have a spike for sure but it won't be that big. we are still on the same slow rising path and with or without FUD we will stay on that path and slowly see a rise up.

Unlikely to happen. Bitcoin would need the scaling debate to end with a beneficial result for the price to exceed 2k, let alone 3k.

I wonder what made the OP think about such price in mid march? however manipulating the price is really a hard thing to do with bitcoin because of the heavy liquidity required, so the slow price increase shows there are real and legitimate demand for bitcoin. and don't forget the fact that BU and their hard fork threat is not passed yet but we may indeed see some unexpected increase in both difficulty and price over the next 2 weeks.

OP is well known for his extremely over-exaggerated predictions. All speculations about prices higher than $2000 don't make any sense when we're still far below that level. Especially in current circumstances where the main point of frustration for people, is the nonsense around a freaking potential altcoin called BU. This negativity will only go away when Segwit has been activated. In other words, we'll likely to remain in current situation for plenty of more months.

not sure, i think the block limit debate is not really hindering bitcoin value at the moment, with the recent japan acceptance of bitcoin as a currency, the value could skyrocket without reaching any consensus on the block size

also the value could increase without people moving more coins, i mean there isn't really a correlation between number of transaction per day and the bitcoin value, especially at these low stage of value, perhaps this could be more true above $10k...

I think it depends on situation also since there are some group of people are scattering some fuds that affects the mentality of some holders that shaken their nuts to sell their hodl bits. And actually we can see it day by day since some of people wants bitcoins price to dump and plays with its flactuation.

But in this case truly im wondering how things could go on bitcoins economy after the mass acceptance of japan citizens. Maybe it has a great effect truly but i cannot see some good odds upon predicting an higher price of it.

I believe a lot of supporting things are happening around bitcoin systems like Japan's stand on bitcoin acceptance and BU is losing its mining shares. Hence we can assume the scalability issues of bitcoin is going to find a solution when segwit will be having more than 50% mining shares.

We do not need to look for long term solutions for scaling as of now as per segwit hence we can expect prices to boom again like $3000 or even $5000 too.

Is there really going to be mass adoption of bitcoin by japanese citizens? What we have seen over and over is that even if you make bitcoin available for people to use, they just don't bother.

See Overstock enabling bitcoin and thinking this would help them gain ground over amazon. What happened is that a few enthusiasts used the function, and then forgot about it and went back to using dollars.

I predict the Japanese will stubbornly continue to use yen and ignore the bitcoin facilities.

The only time people switch to bitcoin is when there are capital controls (eg under Argentina's old govt - when they abolished capital controls, people went back to using the normal currency).

I agree with the idea of a slow rise up and I prefer that. I prefer a slow and stead grow than pumps and dumps. Growing slow can give stability and confidence. For the traders I understand they don´t think the same because when they earn money is where pumps and dumps happen so I guess we will still see many "euphoria-fear" movements in the future but in the background and in the long term I think bitcoin price should keep rising.

Stabilty is a must to have a sustained growth, with bitcoin even on pumps and dumps soon after that the price stabilizes making the price move forward. Right now even after several disasters bitcoin survived to move with stabilty after a sudden price dump. On this basis I believe $3000 is quite possible.

$3000 is going overboard.
if the BU disaster and FUD stops and disappears then we can surely see some sell pressure be lifted too and because of the good news there will be some buy pressure and for that price will rise.

but it won't be to $3000 that is too big and impossible without a bubble shaping up.

Let's not be too much optimistic. Why bitcoin has been said undervalued by OP? Even after the collapse of BUCoin, the price is still stable, that's the first thing. Other is that, even if BUCoin would have succeeded, how it would have affected Bitcoins' value? Were your Bitcoins to be exchanged for BUCoins? If yes, you would be liable to either continue with SegWit or go for the new coin, so why to compare the value of Bitcoins with BUCoin's failure?

Yes, me too, I prefer a steady phase of growth regarding the market price of bitcoin. However, we also know that bitcoin is volatile. When another drama comes along bitcoin price will be down again. But I'm still hoping that at least all the issue should be step aside so that the growth of bitcoin will continue and might, I said might hit the $3000 price ceiling in the future.

I will like that to be truth but I don’t think Bu supporters are going to give up that easily also the price you suggest is too high that would mean bitcoin will need to almost triple its price in a matter of months which is unlikely taking into account the difficult month we left behind us.

If BU becomes irrelevant just like XT and Classic $3000 is indeed very possible. I think Bu is slowly fading away, the only way Jihan can get everyone's attention again is by deploying a very aggressive hard fork / 51%+ attack, which would ruin his whole business too.

lol how come you get into that predictions ? this year i sight that bitcoin could only reach $1500 or more but your prediction is so so so impossible because were talking about bitcoin price here and theres a lot of rich people who has a lots of bitcoin if that happen i think the world will be imbalnce . super imbalance. because theres no way that satoshi could own a super big money even satoshi is still anonymous if that happens i think he/she will show up right ?

Guys I dont know if this is true because I dont want to spread FUD here but I have read that IF we dont have SegWit before december this year we will have a hardfork. Can anyone confirm or deny this? Thanks

3000$ is a much more than what can be reached this year ! My highest hopes let me think about 1600$, but even this, I am not sure that it is possible !

It is not completely true that every trader is happy with pump and dump nature but there are traders who spend their life into day trading who are capable of tapping the market sentiments and make a good move to make the best profit and those people does not care about the price as they simply care about the volatility rather than a steady price and BU disaster will not take the coin to $3000 ,but you have to find a solution for the scaling issues to reach those values.

Those people who were speculating on the fork and BU must be earned good money. Now we can calm and continue to use bitcoin as we wish without any fears.

I think that 2000$ level is a good target for this year considering it is over 50% rise from current price, and I dont expect something bigger in 2017, but actually the BU disaster may give up so much strength to bitcoin core that we will see it in this year.

I hope that hard fork is not going to happen, because it may cause many problems at the exchanges, and on the other sites.
 
I would rather choose SegWit if it was up to me, but it is the choice of the miners, not me.

Too early for that IMO, BTCBTCBTC would attract so much eyes and eager investors that it'll implode on the slightest of problems.

Everything that makes the price go up and down wildly, means bank for those with the deepest pockets. BU is just one of the many things people seem to be worried about. Before that, there was a long time where China was negatively affecting the market with regulations and all other related nonsense. It will continue because it works. Whatever the reason may be, people will constantly sell in panic and cause the market to shake heavily in both up and down directions.

Don't put aside everything related to the fud around the potential hard fork. It's still there, but we just took a break.

There seem to be a lot of betting on specific events - the ETF approval for one and hard fork.
As long as the price recovers after the volatility, everybody is happy.

i fear that this will happen maybe when bitcoin price reach this thats the end of bitcoin because it will not be balance remember those rich holding a large of bitcoin if the price of bitcoin reach that price they can make multiple of million dollars so bitcoin price hoping it would be balance so bitcoin will be with us forever.

I think is never if bitcoin price this year can incraese to 3000 dollar/bitcoin
is posibility bitcoin price this year only incraese to 1500 dollar/bitcoin

Be patient, most technologies suck at the beginning but eventually get better, just look at the internet, the internet exists since the 70’s but it wasn’t until the 90’s it became mainstream and even then the web was not that good, it was not until the new millennium the web as we know it began to exist.