1. Lightning network is not a Bitcoin transaction way
2. Segwit is not a Bitcoin transaction way
3. Blocks larger than 1M are not Bitcoin blocks
4. The rapidly increasing price is a sharp knife to Bitcoin

I was shocked that during the hard fork of bitcoin cash, there was no bitcoin that rejected segwit and refused to expand the block. At this time, bitcoin became not bitcoin.

Transaction volume and fees are not the flaws of the original Bitcoin.

I can understand that the user pays transaction fees to buy the bytes of the block, so the byte of the block is a commodity, and the quantity of this commodity is fixed. The demand comes from the fact that the trader needs this byte to confirm the transaction.

Therefore, expanding the block is like increasing the Bitcoin limit of 21 million, and segwit removing the signature data is like buying half of the goods. This is cheating, deceiving, not innovating. As for the lightning network, I can’t understand everyone looking forward to the lightning network

lightning network

This is to fundamentally change Bitcoin and reconsolidate the decentralized rights into the hands of a few people. Segwit is increasing the rights of miners, and expanding blocks is to issue more commodities to miners, just like the right to print money for miners.

These are not the way of Bitcoin. The transaction volume is a pseudo-demand. This is not a real problem. The real function of money is not to pay the bills. The function of money is to store value.
It is naive to imagine Bitcoin to buy coffee, but people can use Bitcoin to buy coffee consumption cards or coffee points. This is okay, and there is no problem of privacy leakage.

The centralization of small consumption is not a problem, because small consumption itself is decentralized. When gold and silver are currency, no one has ever come out and say, let us change gold, change silver, let us change gold and silver When copper coins are used, they can’t be used as copper coins to buy coffee. Is that still money?

So, the original Bitcoin has disappeared forever on #478559 / 1 August 2017 (3 years ago)

Now that there are bitcoin core and bitcoin cash, they can’t be said to be the original bitcoin, they are modified versions of bitcoin.


As for how Bitcoin disappeared, the reason is the price. The huge price increase created the illusion of success of Bitcoin. But, when Bitcoin and price are closely linked, Bitcoin cannot be used. This price increase is traditional currency issuer attack, no one noticed

The currency issuer has successfully controlled the development of Bitcoin. A few people decide the way forward and change the way Bitcoin is traded. Everyone thinks it is technological advancement?

Bitcoin is just the same ledger shared by many people. Now everyone is discussing, let's change the accounting method. Unfortunately, this proposal has been successful.

I don’t know if someone rejected segwit at the fork and refused to expand the block of Bitcoin. If so, please let me know. I can say loudly that Bitcoin has not disappeared.

How much Bitcoin is worth, the focus has become traditional money, not Bitcoin. The abnormal price growth has attracted a large number of investors, not users.

Investors continue to change Bitcoin, making Bitcoin a perfect story, but it is only a story. Investors say that they want to replace Visa, but they don’t say why they want to replace Visa. It’s just a valuation of Bitcoin based on Visa.

The user looks at the rapidly increasing price and can no longer buy  bitcoin in a short time. The investor said that you can buy 0.00001 bitcoin and it will be very valuable in the future, trying to convince the user to become an investor.

It is the high price that makes Bitcoin unavailable for daily use, not the transaction volume and Bitcoin transaction fees.

It can be said that Bitcoin must have a high price, because as the number of users increases, the demand will rise. This is true, but what is needed is as the number of users increases, not as the price increases. The number of investor will increase.

Traditional currency issuers, using money as a sharp sword, successfully allowed Bitcoin to be used only for large speculation, and then manipulated the market, making Bitcoin a sword that stabs people and harvests people money.

This is not Bitcoin. This is a dog of a traditional currency issuer. The wolf is attracted by the printed food and surrenders the rope to control itself.

This is a sad story. Maybe the price of Bitcoin will get higher and higher in the future, but this is not the success of Bitcoin, it is the success of traditional currency issuers. No matter how much it increases, the only purpose of Bitcoin is to convert it into traditional currency that can be used.

So, Bitcoin will not become money, so how can you buy coffee? In order to allow Bitcoin to buy coffee and change Bitcoin into an investment product, is this a huge joke?

What is the reason why the usage rate of segwit has not been high? It can reduce transaction costs and change the address format.

There is also an HD wallet problem. This thing is also very bad, but it is completely accepted. Use seeds to generate an unlimited number of addresses. You only need to remember a dozen words to use these bitcoins. It looks good, but it will Bring great insecurity.

The developer completely isolates the technology from the user, and the user does not know what address, private key, public key, and signature are. These things should be extremely simple, so that all users understand what is protecting Bitcoin, not a dozen words Protecting the funds they have worked so hard to get.

Human beings are very fragile individuals. They will forget and leak. Even words written on paper are sometimes lost. When HD wallet leaks or is lost, all bitcoins will disappear.

HD wallet does not increase security, but it can reduce the number of wallets. HD wallet can only increase the convenience of multi-account use of transactions.

Multiple accounts and identity isolation

These should be done by users themselves, not by developers instead of users. Users can generate multiple Bitcoin addresses, completely independent, and will not lose all Bitcoin due to the leakage or loss of a dozen words.

Bitcoin does not need frequent upgrades, it is just a shared ledger, but now it is hiding the ledger, changing the ledger, and allowing users to use it without knowing it.

Only when people can understand the private key and public key, and after signing, will they be able to use Bitcoin with confidence, instead of trusting a wallet program and not even knowing what they are backing up.

Anyone can understand Bitcoin. This is not advanced technology. It is just a method of bookkeeping. It does not need to become more and more complicated. Anyone who says that ordinary people cannot understand Bitcoin is wrong.

This is what I said, Bitcoin has disappeared.

After all the hype, does anyone have information on this? I reckon blockchain analytics should follow those coins of the new VIP of the bitcoin community and follow the movement of their coins.

we have seen some little dips in the past few days and its a big concern which many have said we should brace up for dips. currently the price is bouncing off the 44k region which can mean we might go up a little. looking at the chart i see 42-42k region as a strong support but if we close below this region then we might be in for a long to the 30k region. such is how market behaves so anyone who is happy about moon should also be expecting the dip. please give your views about the current market situations in terms of being bullish or bearish.

The price of bitcoin and ethereum has been falling drastically. Will the price of Bitcoin go low to $50000 and there is more chance of ethereum falling low to $1500.

At the time of writing, the price was above $50k and now it has fallen low to $49000 and has recovered reaching above $50000 within minutes.

The ethereum price has come closer to $1500, and soon we can expect the price go low to $1500.

Is the market has turned bearish, or it is just the regular price correction.

https://www.cryptoglobe.com/latest/2018/09/diar-research-less-than-1-of-crypto-wallets-hold-87-of-all-bitcoins/

It's kind of concerning that so few people hold so much bitcoin.

Are these holders even active or what? I'm guessing they bought at the beginning and are all just holding.

It is always the case that there are only few richest people in the world who posses most part of the wealth and this is also true for bitcoins. The good thing about the bitcoin is that it is fixed in supply, so the more people hold it, the more its demand will increase and its price will sky rocket. I don't see this as a problem unless those few people decide to dump the bitcoin in the market.

I don't know why people keep targeting the huge holding peoples. They won't buy from money taken from moneyplant. They also hard earned for money, once became a rich this may happened. And it will be the good news.If the large holding is with less people. They won't sell it mostly. But they can sell the bitcoin and create any change in market.

It's so funny how these nocoiners need to find always some sort of flaw for bitcoin which obviously can't be found because BTC was a spectacular and brilliant achievement that normies can't fully understand.
Great comment Poker Player, merited you for that!

Bang it on!

No, no and no. If you read that link that you have put you will see that "Wallets with the most bitcoins belong to exchanges". Then I don't have a problem with few people owning a lot of Bitcoin, like early adopters, or Satoshi, or people who invest a lot of money nowadays.

Lately I'm hearing the same complaint from people who until recently were saying that Bitcoin is a scam and that it's going to go to 0 and that it's going to be banned....

Well, from those same people I hear lately that it is unfair that Bitcoin is badly distributed.

Moral of the story: buy Bitcoin and shut up your mouth.

Says the newbie with 6 posts lol.  We see your type around here plenty, people who come in just to talk shit about bitcoin.  First of all, you don't have a clue nor does anyone else.  People keep saying bitcoin is in a bubble, but you're foolishly ignoring the facts.  Businesses like Microstrategy and Telsa have added it to their balance sheets, countless finance firms have either added it to their platform or their payment systems (paypal, venmo, cash app etc).  There is still room for massive growth as other companies continue to express their supports.

Do I think we will never drop below 50k again? Of course not, but to ignore all that is happening and claim that the higher it goes the worse the crash will be is straight up misguided.

True, without the dump there is no pump, it's unlikely to see the price go up without it having to go down, though with the last crash, the price went down for a bit and then went up once again, and it had something to do with the "Elon Musk Influence", not only that but even if Elon Musk has helped BTC reaching a new ATH for Bitcoin, it is still inevitable and impossible for us not to see the crash of the price of BTC.

Including the post that started this thread, you’ve posted a total of 5 times in your entire history of posting here on this forum. You’re track record is pretty miserable.

Written by you on December 19 when Bitcoin was about $22,800. Anyone dumb enough to listen to you on that date has already lost out on 124% growth over the past 60 days.

Written by you on January 5 when Bitcoin was about $30,000. Anyone scared to buy because of your prediction has already lost out on 70.3% growth over the past 43 days.

Written by you on February 5 when Bitcoin was about $36,600. Anyone that decided not to buy because of your declaration that we are in a bubble has already lost out on 39.6% growth over the past 12 days.

Written by you on February 11, when Bitcoin was about $44,500. Anyone dumb enough to listen to you on that date has already lost out on 14.8% growth.

And now here you are when Bitcoin is about $51,500 yet again claiming “This is not the time to buy”?  Come on, it’s clear that your ability to predict the near future is absolutely worthless. I think perhaps it’s time to give up and move on to something more productive.  Your advice and thoughts on the price movements of Bitcoin aren’t worth the oxygen you burned to come up with them.

Bitcoin has been around for quite some time, since 2009 to be exact - but it is only over the past few years that it has garnered the attention it deserves.

The media and critics are always quick to jump on any movement Bitcoin occurs, but can Bitcoin actually crash?

Take a look at this article, its summed up quite nicely: https://4king.com/can-bitcoin-crash/

Technical analysis is 99% hinged on the fact that history will repeat itself
History has never favored Bitcoin in January 👌
Will  January of 2021 be an exception or obey the tradition of History .
 If history will repeat it self when will this bubble burst? 🤩🥳
Like the popular  saying Buy the  Rumour Sell the News

Shorters get ready..

NO, It’s Not a financial advice 😋

I am not investing in Bitcoin, I am staying with Altcoins

Why I am choosing altcoins is because bitcoin is now too much volatile and there is too much hype regarding Bitcoin, Altcoins will be recovered soon and will be hitting to new highs, but in case of Bitcoin, We are not sure that when this bubble explodes. Since we are not sure, investment in altcoin is only the safest option.