when you look at the history you can always see a lot of topics on this all over the internet where they talk about bitcoin's death just because price has dropped down! and so far at least 90% of them have been posted by those people who wish for the price to go a little lower so that they can buy more bitcoin.
at times like this, there is always a lot of topics doing the same under a different pretense while they try to hide the FUD with a mask. as soon as rise starts this becomes more severe as they miss the opportunity to buy since they were waiting and then it vanishes suddenly as the same FUDers start FOMO buying.
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dumping season is never a good time to start investing in shitcoins! because obviously they are getting dumped, that is an ongoing thing. it doesn't stop just because they have dropped X%. it will stop when the prices reach realistic levels which can be considered bottoms. that is why every newbie who has been saying "it is time to buy" for the past 11 months has been losing money!
not to mention that the only way to make profit from a pump and dump altcoin is when it is going to get pumped. so you have to buy it then not a long time before it even starts pumping!
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this is what i have also always wondered. i still don't know what the plan is for coins such as IOTA for example to prevent spam attacks. and i don't think i am going to get the answer to that anytime soon since these coins are never used so there is no incentive for anyone to actually spam attack them so that we can see what is going to happen. Same for EOS. And EOS takes a step further by actually banning accounts with ill intents. But yes, thing with these types of chain are that they are very centralized which itself is a negative point.
in a decentralized network that you can not prevent people from creating as many key pairs ("accounts") as they like, there is no way to "ban" an attacker.
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that will never happen because an ICO owner doesn't want to spend money. or at least spend the least amount of money. so they pay with the thing they are creating out of thin air aka the tokens they create. and that costs them nothing. paying with bitcoin requires them to pay money and buy bitcoin and pay with a valuable coin.
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- investors left the altcoin market last year - only bag holders and day trading pump and dumpers remained -- the bag holders keep bag holding until they lose a lot of money then start panic selling. for each of them the tolerance is different. some dump at 50% loss, some 80% and some go as far as 90% and then dump!!! which is why the crashes are still ongoing -- the pump and dumpers never leave, they enjoy the profit that the newbies can give them consistently.
this means nobody touches ICOs anymore! the newbies have their money tied up in a bunch of shitcoins that keep losing value and when they dump they exit for good. and the pumpers never risk locking up the funds they can use to pump and make money every day in some scam ICO!
it is your choice to decide which group you want to belong to.
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only the third reason is the real reason behind the recent market crash. although bitcoin-cash fork had nothing to do with bitcoin and its price, but sometimes in bitcoin market some very irrelevant events can cause a panic sell. and the whales and the FUD media center have always loved these situations to put more wood in the fire that is already burning and make themselves a bigger profit. so the result was this big drop which then caused the avalanche like dump in altcoins.
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How is more accumulation time unpleasant? I'm confident that the next ATH will piss on the $20,000 mark, but where it ends up peaking remains to be seen. In other words, buy as many coins as possible.
Right now I cannot buy. Right now I would have preferred to even sell a little bit. Of course, I won't at this price. i am with you on not-buying, but that doesn't mean it warrants selling. right now we don't know whether price is going to fall more or not but we also don't know if it is going to rise or not in short term. when manipulation is dominant in the market, all bets are off and what we are left with is a risky market which most investors prefer to stay away from which is why these recoveries usually take a longer time.
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as far as i can tell the DEFAULT_MAX_BLOCK_SIZE is already 128 MB but none of it matters when it is empty! they may as well set it to 10 million TB and still be empty! and in a year from now they would be lucky if they can have processed 100 MB of transaction ignoring the possible fake spam attacks they perform. you can see that BCH haven't really processed that much transaction in the past year, its fork can not do any better either!
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based on your hyper activity in the past week or so that price has gone down it seems like you are the one who is worried. did you start shorting too late? ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) next time try to act faster instead of waiting for the bottom to be reached and then starting to short bitcoin if you don't want to lose a lot of money. haha.
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it is impossible to answer this! you think it is a simple question but it really isn't.
for example is the money you are investing all the money you have or a big percentage of it or a small percentage of your savings? this market is a high risk one, you should invest small percentages. of course that also depends on how old you are, if you are 14 investing all your launch money is not a bad idea but if you are 30-40 with a family then you may want to think twice before investing all your life savings in this market. again depends on the percentage you are investing.
then it also depends on how much you are familiar with this market. if you are brand new then i would say only stick to bitcoin and nothing else and think about buying a small amount like 0.05BTC (around $200) as a start, learn how wallets work and how to secure them (cold storage), then learn more about the market and gain some experience.
if you are not new and you have some trading experience then you can think about altcoin market but only if you are familiar with pump and dumps.
finally it also depends on how diversified your portfolio is. if you already have other assets (other assets are not altcoins, other assets means stocks, bonds,... as in real assets not shitcoins that are dumping if bitcoin goes down) then you can think about bitcoin as a diversification which is a very good option. if not then think about what things you can buy. depending on where you live and the stocks market it can be a good option from time to time. there are also a lot of other options.
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the problem is that altcoins are still useless so whenever bitcoin has a small drop, the panic dump is altcoin market kills every altcoin bag holder in it with a huge drop. and on top of all that we have the manipulation which is the dominating force in this market which is moving the price in the direction that the whales want and during dumps they love to short altcoins to make money so they dump them a lot more.
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Keep dreaming, it won't hit 3k. That is below every miner's cost of production. This forum has been invaded by manipulators that are trying to get people to sell their coins for cheap. When everyone is declaring bitcoin dead it means that this is the best time to buy. My target for the end of this year is between 6500-7000.
No one cares about what it costs to mine other than miners. That ain't anyone's problem but theirs. Any miner who tries to hold back the tide with their funds will get flattened by everyone else. No one entity can turn a market around. They'll be forced to adapt to the price the market dictates. We're now only $850 away from 3 grand at this particular moment. I don't see any appetite to push upwards at present. Most gpu miners for coins like ethereum have started pulling out (just look at the difficulty chart) as it cost more to mine than to buy. I don't think the miner's cost to mine bitcoin will matter that much. Same like mining anything, sometimes miners will have to mothball their operation or mine at a loss in hopes it goes back up. 3k by end of year is possible. i think the situation with ethereum is a little different though. there are a couple of problems and fears that is pushing miners away. first of all is the obvious price dump which has been severe and with the price close to $100 it makes making profit very hard. but also there is ASICs for ETH which is going to kill GPU mining pretty soon so some miners are leaving already. and on top of that there is the threat of algo change which is going to kill mining entirely.
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I'm living in a country where power costs $0.3/kwu.
Conclusion If i invested my money into buying BTC directly, i'd have ~4.5 times more BTC than when i'd invested the same amount of money into mining.
that's the problem, the place where you live and the cost of electricity. usually you don't go for mining unless the electricity cost is low so that you can make a good profit! 30 cents is huge. according to google the average cost for electricity in US is between 8 to 17 cents. where i live the cost starts from less than 1 cent and grows based on higher usage. i don't suppose it would cost more than 5 with mining.
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i seriously doubt that advertisement is going to change anything. all you may achieve is more speculators who are going to enter for the profit and although you may secretly want that too but your comment doesn't say it here so ads are not the solution.
what you need to do is to increase the real adoption. so start with yourself. how many times have to spent bitcoin? start doing that. how many times have to asked a service, merchant,... online or offline to accept bitcoin payment? start doing that. do you own a business yourself? why don't YOU accept bitcoin payments? are you an employee? if yes then have you asked your boss to pay a part of your salary in bitcoin?
you see you have to start from yourself. you can't expect others to do it for you. start and others will follow. for example if you started accepting bitcoin in your shop (assuming you have a shop as an example) other neighbors may follow, other people coming to the shop are introduced to bitcoin or if they already know it will see that bitcoin is a currency and will use it more.
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the main problem with people like OP is that they are brainwashed by the altcoin advertisements. they keep blaming the hardcore bitcoiners who are blind to everything else while they are blinded themselves. and meanwhile the same altcoins that have brainwashed them have zero innovation! they have changed a bunch of small things to create their altcoin and then pretend to be better ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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... no innovation to justify it.
this has been the case for many years. it is not just about these recent bitcoin forkcoin that are absolute crap! the difference is that they (like bitcoincash for example) are now making a lot of noise so they are viewed more. otherwise people have been copying bitcoin's code (and in some case other altcoins code) without any kind of innovation whatsoever and have been making money from it.
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if by bottom you mean the lowest price after a bubble correction then we used to be close to the bottom. now we are far from it because we are past the bottom. in other words the current price is below the bottom which was $6k!
if by bottom you mean the lowest price that bitcoin can reach in this manipulation phase then it is impossible to say. it can be $3400 that was already set, it can be $2k, or $1k or possibly even lower. although below that would be extremely hard but when whale manipulators are hard at work they can do anything.
the real question in my opinion is how long can they keep it up?
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I have turned my mining rig off. It’s a losing battle at the moment for miners.
did you have multiple ASICs mining bitcoin? i am asking this because i am curious since the small time miners i know that have 1 ASIC for example at home mining bitcoin never turn it off because of a price drop. in fact they are happier because they now have a higher chance of making more bitcoin and they are not forced to sell to pay the bills like the bigger miners are. they can still pay their bill without selling bitcoin so it is a big profit for them.
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why should it fail when it is growing stronger every day? bitcoin is being developed and improved on consistent basis and on the other side of the market among altcoins despite all the shitcoins that have taken up the top ranks, you can still see improvements of the technology with interesting projects although they don't thrive because of pump and dump altcoins on top. and don't forget that the technology is new and is advancing so it can not fail. it is like asking what will replace the telephone when Bell first created the first one!
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it could have been a bilateral split if there were actually two sides with near equal merit: bitcoin and bitcoin cash. what we had was two sides that were equal: going with SegWit and second layer; going with block size increase hard fork. and we shouldn't confuse the two together in my opinion. the later could have been a bilateral split but the former (which created bitcoin cash) has nothing to do with that. it was a centralized attempt to take over and create an altcoin to make money using the other rejected proposal for scaling bitcoin as an excuse to make them look legit. a very similar thing that is being repeated by BitcoinSV these days.
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