This is just a thought that occurred to me while reading some posts around here, feel free to discuss it or even criticize it. So if we want Bitcoin to rise in the future, we need it to crash first and many wannabe traders to sell off their coins at a loss when the price is low. If people don't close their positions in panic now and just wait out bad times, they simply won't let prices grow later because they will get out whenever the price rises just enough for them. But if they fix their losses, they will no longer have bitcoins to record minor profits and thus drag the price down in the future. As a consequence, the price can surge higher without a lot of selling pressure at bigger figures when the hype and buying frenzy begins anew.
The bottom line is that it is kinda required for Bitcoin to crash occasionally for the prices to rise higher eventually.
I do not know if we need crashes but I do know crashes are inevitable its simple economics, an asset goes from being overvalued to undervalued and vice versa, when it is overvalued there is no way for it to go even higher in price and this eventually creates a sell off and this creates panic in those that invested late regardless of their knowledge and skill and this at the end creates a crash, in the process some earn money and many lose it and in return those that earned money can now make push for other technological advancements. |
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As long as the alts are tied with the price of Bitcoin they are going to get man handled by Bitcoin. There needs for the flippening to happen and it needs to happen fast.
Nothing needs to happen, things will happen because that is what the market decides to do, most altcoins are dependent on bitcoin because they are nothing without bitcoin, altcoins that have a strong team of developers and a good community move independently from bitcoin, they still follow it somewhat sometimes but that is because bitcoin is still by far the most used crypto so if they want to change that they need to get a bigger user base besides this will change in the future when more people begin to use other cryptocurrencies for their needs. |
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If things go haywire and no compromise or resolution can
be settled and achieves with the issues concerning cryptocurrencies
everywhere with banks and other types of authorities, they could possibly
and likely resort to that kind of solution. It's possible, they have the resources,
the man power, the technology is available, they have the investors and most of all
the legal authority to pull it off. If that happens it's gonna destabilize the decentralized currencies
out there, a formidable opponent to bitcoins and altcoins in the market. Maybe it will happen or maybe
it won't, we don't really know. We still even have questions on the current digital currencies that is still the
hovering with everyone. It is quite hard to speculate but honestly anything can happen from this point onward.
The development of such currencies will be a difficult opponent to bitcoin but it is not unbeatable, those currencies will be the same as the current fiat except with even more monitoring in place, so the reason of being of bitcoin and many other cryptocurrencies will still exist and when the economy crashes those tokens will crash as well and bitcoin will be free to be adopted by everyone that understands the difference between independent cryptocurrencies and those cryptocurrencies backed by the governments. |
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Holding is the best way to get profits for those that do not want to spend their time trading all day, trading can be superior from the point of view of the profits for some people but for the majority of the traders trading only bring losses in the long term and for those that get profits most of the time they are below the market in terms of their profits which means they lost their money and their time if we compare them to the holders in the same period of time. |
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The logic behind bitcoin and blockchain technology is the future itself. Right now people are focusing on how can they make more money instead of the importance of that technology. We will see blockchain technology integration in every aspects of our daily lives before too long. No matter what we should embrace that technology because it will help us free our selves from boundaries of today.
This is correct, while most people are concentrated in earning money and in the short term profits they can generate the truth is those profits are generated by the long term potential of bitcoin and altcoins and their future applications it is difficult to imagine how the blockchain is going to affect our lives but this is similar to how difficult it was to imagine how the Internet will affect our lives and now look at us people freak out if they are disconnected from the Internet for a few minutes. |
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In fact most of the coins are indexed on BTC price, which means if BTC crashes, others alts will follow. So yeah, because of that, BTC incluences the whole market. You can take as example Ethereum, which survived a bit longer on the crash, because ETH is more indexed in USD than others coin. About USDT, I completely follow 1Referee, it's not more a problem now. And I would say, who cares if USDT really own what they are supposed to have ? We all know banks haven't the whole USD they are supposed to have, so USDT would be a good replica  . People are afraid of USDT just only because the price drops, and not the opposite, that's because we always (as humans) need an understandable reason when something negative happens. The influence of bitcoin is undeniable most alts do not move independently from bitcoin they move up and down following a similar pattern and this is not really that surprising if an asset is valued in dollars and its nature is nothing but speculative and the dollar goes down it is natural for the asset to move in the same direction of the dollar so what we are seeing is the same pattern and only the coins that have some active development and an active community are able to break the pattern. |
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I'm interested in checking bill gates on a lie detector to see if he has any bitcoins. I am sure that the answer will be positive. Most famous people hide their earnings in cryptocurrency. Those famous people who honestly pay taxes admit that they have bitcoins. It's a worldwide epidemic. I think the bankers bribed or forced bill to tell that lie.
I do not think that is as common as you make it out to be there will be some people doing that but it should be the minority especially since there is not a clear regulation in all the countries about what you can do with your bitcoin and how to pay taxes with it, however I do see that becoming a problem in the future and it could be one of the reasons of why bitcoin will be banned, criminals will use bitcoin but that is not the real reason for the ban but it will be an excuse the real reason will be all the taxes the governments will lose against bitcoin. |
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Both are worth the investment, although Bitcoin will be a safer investment at this point. You really can't go wrong as both are profitable, the only question is which is more profitable?
I do not think there is going to be a great difference between bitcoin and ethereum both have big market caps already and are the two best projects you can invest in the long term, the only reason to choose one over the other has to do with the advantage bitcoin has of being the first coin and the advantage that gives to it, since it is likely that means that in the long term the profitability of bitcoin will be higher as that is the coin most regular people will adopt. |
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We should never keep our coins in any exchanges.There are more chances of exchanges getting hacked and we may have to lose our saved coins.
This is a huge mistake that many keep doing, using exchanges is inevitable if you are a day trader but if you are a holder you do not have any excuse to keep your coins there, think about it lets suppose you have 1 ETH it is highly unlikely you are going to be targeted specifically with that low amount of ETH but if you have that amount in an exchange your crypto is at risk since exchanges are big targets that hackers will love to steal from and if they are successful there is a big chance you will never see your coins again. |
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Biggest plague to hit the Earth since well the Black Plague (not actually but awful still). I don't want KYC in crypto, crypto is supposed to be anonymous! I don't mind paying taxes and will do so when time is right, but KYC and AML needs to take a back seat right now no joke.
The bad news is that KYC seem to be here to stay and it does not seem like we can do something to stop it the only ones that can are the developers of new coins, we need decentralized exchanges and while there are some none of them works exactly like their centralized counterparts, we must member that every single centralized entity is a target, so we need to find a way to avoid centralization at all costs but at this point it does seem like we are losing the battle against KYC. |
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Put some on your knowledge because no matter how much money you will have if you don't have proper mindset you will loss it later on. Don't ask where to invest, try to learn the process and so you can know where to invest, education will always have a big impact on this market.
I agree with this there is nothing wrong with asking for some advice once in a while but it seems obvious that if you do not have the knowledge required to invest on your own then you should not be investing at all, it is just common sense how can someone expect to profit from an investment if he does not know why he invested in a coin in the first place, and then even if someone else selected the right coin then another problem will surface which is when to sell. |
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I still do not see a way out of the crisis. You see? It seems to me that people do not trust the existing financial system for a long time and therefore the number of bitcoin users increases every year. A lot of rich people are now abandoning the dollar and investing in bitcoin. I think very soon the American economy will experience a deficit of investment.
The crisis is inevitable in fact this is one of the reasons why I'm bitcoin in the first place since I recognize that at some point during my lifetime the current system will crash and a new system will be put in place that is even more unfair, however I do not know if the system is going to crash that soon after all the system should have collapsed many years ago and yet it is still here which show to me two things, how powerful banks and governments really are and how indifferent people are with their finances and the finances of their country. |
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Hi All
I am a hod'ler of many altcoins, and i love the tech behind them, especially priacy coins like Deeponion, Spectre and Zclassic (before the BTCP fork). However I have read up a lot on IOTA, and love the theory and potential tech behind it. Likewise, some big companies also seem sold on the IoT and IOTA. I also recognise the major FUD that surrounds the foundation, and sometimes unhelpful tweets or press statements from IOTA Foundation don't help. Is this really legitimate criticism OR just many fans of blockchain hoping that the Tangle will fail? I love all of the tech, and want to see it all do well and improve society generally. If this means I am fortunate enough to make some money off the coins/tokens I have then so be it, but Blockchain, IOTA the IoT and every other application could/would revolution society.
Thoughts?
IOTA is popular just look at the market cap and you will understand that, the problems some have with IOTA is that is not close to being a finished product, this is not IOTA fault since there are many projects with huge market caps with the same issue, but the biggest issue some have is with the coordinator being controlled by IOTA, for many this means there is centralized control by a single entity and they are so against it they create all kind of misinformation about it. |
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I'm not entirely sure what this question is getting at. What exactly could happen, it's just a statistic, it doesn't really mean anything. Bitcoin could lose top spot for a number of reasons and the way the crypto market would be would change with each. Nothing all that spectacular would change though. Let's say ETH grows to overtake Bitcoin, it won't change anything.
It is never that simple, in the scenario you are bringing up there will not be much of a problem since bitcoin will just be surpassed by a strong competitor, but what if bitcoin lost that spot because some other occurrence, what if some kind of vulnerability was found or if the governments did a 51% attack or what if they incarcerated the devs, there are many scenarios in which bitcoin losing the first spot in market cap could come from something else than a market competitor surpassing it. |
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Hi Guys, I've lot of concerns about an alt coin (a Litecoin copycat), this coin is running from the last year September, and has been traded by a good volume (based on the local market, the coin is only used in a local context). The problem is that the devs want to change the supply params to make it scarse, the current max supply is 123.456.789 and they want to cut it down to 9.672.777, and the theoretical max daily coinbase supply now is 14.400 and they want to cut it down to 2.160. Of course, the devs, owns an important percentage of the current supply. I had never seen a change in supply parameterization like this, the main idea is to raise the price of the coin because there is not more purchasing power anymore as you can see in this chart of the last 2 months:  The coins is only traded in a very local context, and people don't seems to have concerns that the devs takes the roles of a central bank too, moreover, they are doing a survey on telegram about this change, which of course everyone involved want their coins to have more value. What do you guys think about this? do you know any similar case? The job of the devs should be to develop the coin and unless they can explain how having a smaller supply of the coin helps the development then this is a bad idea its clear they are doing this out of an economic motivation and the supply of the coins is something they should not be play around once it is established, look at bitcoin increasing or decreasing the max supply of the coin will be a disaster since that will mean the value of bitcoin can change by the whims of some people and that is a clear sign of centralization something we are trying to avoid. |
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Last block is more than half an hour ago already  or is it normal? Yes it is normal, on average a block will be created every 10 minutes but that is just the average it does not mean it will happen exactly like that, the longest I have personally seen a block being created has been slightly more than 1 hour, I know that it can be exasperating waiting for that block to be generated but the only thing you can do is to be patient and wait, this is part of the design of bitcoin and there is nothing we can do to change it and if a transaction you sent is stuck because of it then you just got unlucky and must accept that fact. |
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The problem with cash and anonymity is that you can't really transfer cash abroad.
You can't carry more then 10K$ in cash with you when you are travelling abroad, you can't send it in a package to another country as the customs will be on it and stop the package from being delivered, so cash's anonymity is really limited, bitcoin on the other hand offers anonymity transactions over the world, with a small cost and without the need of explaining to your local law enforcement where did the money come from.
That's the reason countries are so afraid of bitcoin, they can't regulate it or track it in order to prevent terror and other crimes.
True, transferring huge amounts of cash abroad will require a huge effort and a huge risk as well something that no one that earns his money legally will take, however we cannot deny that if you want absolute anonymity cash is still the best, all the transactions are forever recorded on the blockchain, so if at some point in the future an address is linked to your identity governments will have a very good idea of what were you doing with your money back then and since the blockchain is public everyone else will know too. |
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That's what the original vision of Satoshi, to used bitcoin as digital currency without third party involved. However, in the last couple of years, bitcoin has become a investment platform like store of wealth for big investors.
Of course I would like it to be like cash that we can used for our everyday lives, sadly though its not yet realized but I'm still positive that we can achieved that in the future.
So let see how it goes specially with Lightning Network already in the horizon. You can open channels from A to B and transaction will be quick and seamless.
It has not materialized yet the vision of satoshi but we are slowly getting there it is going to still take sometime even after the implementation of the LN, after all we are so used to hold our bitcoin that the benefits of using our bitcoin will have to be bigger than the benefits of holding and with the price so high and the potential for the price to go even higher I do not think that is going to happen soon so we will need first a huge adoption by the population so the price increases and the holders finally decide to use their bitcoin. |
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I am not entirely surprised by this at all actually, anecdotally I have always felt people who achieved success where mainly in the right place right time. Whether that be born to a certain family or class, or to a certain country, or area of a country, these things all effect where we will end up. Good to know us average folk can still make it in this rigged world  Luck plays a factor we have always known that but you still need the talent to take advantage of the opportunity life gives you, look at bitcoin, we know we can make money with it but if you lack the talent then you are not going to make much money with it, but with the right skill you can make a fortune, this is why even if lucks plays a factor we cannot say it is everything, there have been several studies that shows that those that have an higher IQ and more education have greater salaries and get better outcomes. |
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Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
They will surely try to do it, it would be a mistake to not take that opportunity and I'm sure that many are going to fall and buy those coins, this is similar to all of those that are only holding paper gold instead of the real thing but like them they are going to regret not holding gold or bitcoin when the time comes, but you need to understand that there is nothing we can do to stop banks and governments of creating their own coins in the same way we cannot stop scammers to create a bunch of useless coins either. |
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