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The community is still there. Hashrate is still there. In terms of price yeah not only ltc but all altcoin in general suffer massive price drop. It's kinda of idling with practically no development but to just put it as being dead status might be too harsh
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I only believe in coins that have the strongest community support and that are nonetheless bitcoin and dogecoin. Forget about technology it's the people that is supporting it that makes the difference. Too bad I can't select both at the same time in this pool
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Well I've got to praise their effort and what they have done so far to instill back confidence of customers.
The 1 btc to Jimmy Fallon seems to send a message across that says "hey we are fine, have something on us" and the commission free is somehow acting like a bait to get people to be back trading like normal.
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No, I'm not ripple on this one. I would go all the way with bitcoin with the decentralized thing but with ripple... I'm not sure how they churn out new xrp. Doge would take second place, not because of the tech, but somehow they seem to have a community that is very close together and supportive.
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I'm with Gavin on this one. We need to look long term on the benefits it will bring by increasing the block size.
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An early adopter who was probably 15 years old would have been 92 after adding 77. Given the average life expectancy of 80 and another 12 years assuming he/she did pass the private key to another person and still the coins remain idle, most likely the private key was never there in the first place.
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That is how real people makes money. You don't expect to study the charts, put your buy order in and wait for it to hit and then sell back at higher price, wouldn't you? That is too complicated
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Somehow I agree that despite we are already in the 6th year, the fact is that bitcoin's influence is not that outreached. It will definitely take time.
And concerning your statement on
The ability to securely STORE money without the help of a 3rd party (such as a bank) and without physical plant (safes/warehouses)
I still don't understand why certain people prefer to keep their money in online wallet where they don't have control of their private keys.
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I just wonder why the multi-sig wasn't being implemented in the first place and only after the hack took place. Also the 1btc tips at twitter seems to suggest that they are sending a message telling that the hack was simply nothing and they are fully recovered?
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Is this true? The cheaper these things are the worse the distribution will be. It will be easier for one or a few entities to own a majority of the coins at 10 bucks or a hundred. So doesn't this mean that as the price falls we are sort of becoming..like..less good  But when price is low, it is also easier for anyone to own a majority of the coin. Where's the exception anyway? If price was like at the high side, a newbie naturally would hesitate to get a lot of the coins. So maybe a 100 bucks investment will come up with something like 0.35 of a coin. Psychological to that person that sounds like very little return for the fiat money that they put in. |
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It's definitely the low fees that is causing all the issue. Confirmation shouldn't have taken this long if you provide the standard fee of 0.1mbtc.
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Because if you have a fiat that get printed indiscriminately that amounts to trillions per piece of paper, you might want to consider using bitcoin as a stable payment currency. Also bitcoin would become useful as payment currency moving across regions. Anyway your definition of third world countries lacking in internet infrastructures is not accurate.
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Quite a substantial amount of money involved. Could you elaborate in more details how the whole thing started?
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Sorry to hear that. I don't think there's anything you can do right now. A hard lesson learned but this will sure have you be more careful with your coin in the future.
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Seriously who is going to implement the regulations to control and stop further transactions coming from the wallet? The whole community which so big has to agree and come to consensus with at least a majority accepting the idea. Even if this becomes a reality, it simply takes away accountability factor by the owner to take appropriate steps to secure and make every way possible to care for their fund.
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The next question is whether Bitstamp is now insolvent. They lost $5 million. Did they get new funding to replace that, did they have enough capital of their own, or are they dipping into customer funds? Their statements have carefully avoided mentioning this issue.
If a real stockbroker lost funds like that, and became insolvent (debts > assets), they would have to stop operations immediately. In some jurisdictions it is a felony for a broker to continue to accept funds once insolvent. They don't get to "fix it later". That's because, historically, the temptation to fix it by speculating with customer funds has been a big problem.
With withdrawals working again, it's probably a good idea to get your assets out of Bitstamp. Don't use them as a wallet. Trade there if you like, but empty out your account when not actively trading.
Bitstamp now needs a full audit by an outside auditing firm.
You are right to point that out because unlike financial institutions which have assets to back them up, I don't believe exchangers have that as well. I really hate to see them go but at least they must be given a chance to recover. I'm not sure how it is possible... probably when they start back operation and get things moving again like normal business day, this will allow them to secure funding either from investors or how. Or either way, maybe the loss for them is too small for them and they already have contingency plan in place. We just don't know that. So, it's a good idea not to leave large amount right now which goes the same for any other exchangers. |
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With less supply introduced daily, this should have a positive impact on the price to slowly bring it up in the long run if there is no external factor like manipulation. But I don't expect it to change so suddenly or so drastic once halving occurs considering the size of the market which is so big with only less 1800 introduced per day. Also there are many factors which can come into play to affect the price.
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Quite an interesting analysis. Technically it is possible because it's quite rare to find a correlation that stays on to maintain at a range for so long. Let's see if this still stays
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