One of Bitcoin's utility factors is functioning as reserve currency in the crypto industry. It's pretty safe to say that around or at least one million BTC is being used to trade altcoins with globally. In other words, a large number of BTC is being kept out of direct circulation. What do you think will happen with these coins when everyone stops trading altcoins?

Bitcoin will always do well, some times the market has gone way ahead of itself, and last year was the perfect example of that. What people have a problem with is how the price has gone down a lot in such a short period of time. I'm certain that if the decrease to where we are right now was more of a slower downward spiral, it would hurt way less.

I went through several corrections. People constantly focus on the $1100 peak, but the bull run that happened just before that was one to remember as well. I started buying my first coins around $20 back in early 2013 to then see the price pump to over $200 (which I bought at as well), and then drop back to $50-$60. I was a noob at that point and rekkt myself all the way till the $1100 peak.

I don't even consider that to be something scary at all. The moment that really got me was when out of nothing the price tanked like 50% in a matter of minutes due to SilkRoad being shut down by the FBI. I was on the brink of panic selling but decided not to. Not sure what it was that prevented me from dumping (probably the shock) but it was an amazing learning experience.

Those who focus on % gains per whatever time frame are usually the losers, especially if you have to ask others for advice. On top of that, the far majority of the people don't even have a clue about how to properly trade or invest in a market ruled by panic. It's safe to say that if you end up trading or investing right now with the intention of booking short term gains, it's purely gambling.

Buy Bitcoin, hold it for a couple of years, and you will be rewarded for your patience with a solid return, and that without having to expose yourself to the short term market people should be ignoring instead of participating in.

It's always profitable to attack Bitcoin, because with Bitcoin you basically control the entire market with how the price of every coin is attached to what Bitcoin does.

What people seem to discard, is how BCash after its split managed to have more than half of BTC's hashrate to be shifted over to its own network. It was a legit attack on Bitcoin, and as far as I know the only time another network had more hashrate than BTC, but we survived that. I'm not sure to what extent the Coinbase pump has anything to do with it, but it's quite interestingly timed.

The same that Bitmain & Co tried to do to Bitcoin is being done to them by nChain and CoinGeek. Karma it is called. Assholes.

Time zones aren't a good indicator since those who intentionally dump could very well have all the incentive they need to make it look like the dumps happen when Asia starts waking up, while it's coming from a completely different part of the world. Also, traders will be able to adapt to these time zone related dumps and pumps, so that to me makes it even more likely to have it be a completely random event.

In recent times the dumps could have been driven by all sorts of motives. Miners dumping to make sure they can go on for a month or so without problems. Institutions lowering their exposure to risky assets. People all over the world being genuinely afraid of what's going to happen. Etc.

Bitcoin had nothing to lose in the first place, so there hasn't been anything that made it win. It was well expected that a split would happen, because nChain and CoinGeek have a roadmap in mind that doesn't align with anyone other than their own minions. It was also expected that ABC would shift over hashrate from BTC to its own silly chain to protect what's left of its economical incentives. Very predictable behavior from fraudsters.

I'm sure that Roger will come out just fine, because he has never been someone that bothered to care about bear markets where prices tank badly. Bitmain on the other hand can say goodbye to its IPO. It hasn't only lost the far majority of value when it comes to the coins that it holds, but it is also close to present the world horrible business reports due to the bear market.

Easier said than done. It always happens when you don't expect it, and when you try to prepare yourself for it, you'll give up after a couple of week or months at most, because you are not utilizing your money the way it should be utilized. On top of that, it's never a good idea to leave any sort of funds on an exchange for a long period of time.

It can happen on ANY exchange, so you're not going to gain anything by "researching" what exchange is the right one to pick. The main concern is even if you manage to catch a flash crash, that the exchange won't screw you over and rolls back the trades if it concerns a market mover having made a mistake. With what I said above; too much risk, too much time wasting, very little to no reward. Bad deal.

I can't wait for cloud mining to be eradicated as much as realistically is possible. Instead of people buying garbage with next to no sight on ROI months later, they should have bought their crypto currencies directly. If you look back, buying crypto has always greatly outperformed any sort of mining adventure.

I honestly believe that the worst for the cloud mining industry isn't going to present itself during the current bear market, but when the block halving kicks in, which instantly will translate into servives shutting down because it's no longer viable to pay out. In this case even if it concerns scam services, they have a legit and provable reason to pay people 50% less.

Seriously? Going by your logic, why didn't governments consider Bitcoin to be "trustworthy" when it maintained its position above $6000 for such a long period of time? Bitcoin was so stable, that the degree of volatility reached near all time lows. People were even in the process of referring to Bitcoin as a stablecoin. Great time it was to use it as money.

If anything, with the recent market activity it makes more sense for governments and others to lose faith in Bitcoin, because it hasn't done anything to signal being a reliable form of money, nor an average joe proof asset class.

Centralized blockchains don't represent anything Bitcoin stands for. I often hear these bobos see plenty of value in the blockchain as technology, but less to zero in crypto currencies themselves. Seriously, the blockchain itself is the most overhyped garbage there is. It's nothing more than a marketing gimmick to trap in fools and raise tons of money. If it isn't a decentralized crypto currency making use of a blockchain, then a blockchain itself is useless.

Databases can do everything a centralized/private blockchain can, and the worst thing is that people don't realize how they years ago could have booked significant efficiency gains by simply using that wat was available for plenty of years already.

Delusion. That's what it is called when people search for excuses as to why the price is going down, because you clearly ignore what's actually happening. The same delusion I saw on Reddit last year where people were desperately trying to justify the drop in price to comfort themselves. Holiday sales it were, at least according to these people. Right, $20,000 to $6000 because of holiday sales.

It's simple. Buy the market down and your averages will come down with it, which will preserve much more of your dollar value and help you break even faster. Better than doing nothing.

There is much more needed than riots and a stock market correction to get fiat to become worthless. Everything is priced against the USD, so I sincerely hope that we're going to see that currency survive for as long as possible, at least till Bitcoin becomes more mature, is mass ready, and earns the safe haven asset status that Gold currently enjoys.

---

Coming back to the Bitcoin doesn't produce anything part of the article, that is simply not true. If you look back, dividends in form of fork coins have generously rewarded Bitcoin holders, plus we have LN coming up where you can provide liquidity to the network in return for small fees. Especially the latter will stimulate people to lock up their coins in channel funding rather than speculate with it on the market. Massive plus.

Dollar cost averaging while the market is tanking is the way to go. I did it the moment the price took a dive below yearly support and I'm happy that I did so, even knowing that the coins I bought above $5000 and $4000 resulted in paper losses. I honestly don't care. Even if the price went up directly after that, the coins wouldn't move. They are safely stored offline to not be touched again in the coming 5-10 years.

My biggest guns are saved for when we dip below $2000 this or next year. I don't expect it to happen, but I rather come prepared. You never know when sub $1000 buyers and potentially some OG's start panic and press the sell button. Things will go down fast. Most people feel comfortable seeing prices decline when it's far away, but start to panic seeing the price approach their initial entry point.

Warren Buffett.

Actually, the current market sentiment makes a recovery occur much sooner, mainly because of the fact that the process of speculators and gamblers dumping their coins has been speeding up rapidly in the last couple of weeks. Imagine how long it would have taken if we kept hovering over $6000 and the aforementioned entities had their bags still fully loaded.

I would love OG's to reach a breaking point and start dumping as well. Instead of one person holding thousands of coins, these coins will be held by hundreds of people.

Why do Lee's always feel the need to predict the market movements? The Lee legacy isn't worth much anymore, thank Tom Lee for that.

I always look at the TA hillbillies on youtube to have a fun time during these bearish months. How often can anyone be wrong and still continue predicting the price will all sorts of silly red and green lines, triangles, etc. In some cases you have to know when to not mess with the market, and that time came as soon as we broke the yearly support level.

There is a reason why these idiots keep uploading garbage to youtube, because their TA is pure bullshit. If it was so profitable they wouldn't be making an ass of themselves on internet continuously. All about the ad pennies and scummy memberships!

The trust you are referring to is people "trusting" that the prices will go back up. If you aren't here for the technical aspects of Bitcoin, your "trust" in the market will be broken time on time again. It's useless since it's based on nothing. Let people sell everything they have, the sooner that happens the sooner we can move on. They are near the point of breaking anyway, so why not sell now there is still some value left, because it will soon go to $0 in their mind.

These market cycles is exactly what people wish for, and they got it. Pumps don't go on endlessly; as hard as the price pumps it will dump again. There is no infinite queue with next fools to buy your bags.

Actually, we briefly dipped below $800 last year January, so there is some sort of a gap still.

In most cases, if it concerns an empty increase, the price drops back to where it started. I think the Japan and Asia developments were legit price drivers, which is $2000-$3000'ish. The empty pump that followed afterwards was related to the futures and the ICO boom.

I'm sure that many still remember how the price dumped from $5000 to $3000 and jumped back up again. It didn't stop there for nothing. I remember someone over at Goldman Sachs was expecting much lower lows at that point, but it didn't happen. If it drops below $3000 without jumping back over it, then there is no level safe to call a bottom.

Financial institutions have been into Bitcoin for years. Fidelity recently said that it minted hundreds of Bitcoins back in 2015. Who knows how much it already owns in Bitcoin through proxies at this point in time. The point is that institutions don't actively present themselves as entities jumping into an asset class.

They silently get things up and running to not shake up the market too much. I'm certain that even in 2020 people here will be speculating about when institutions will finally enter the market, and why they haven't already done so, while in reality they were right here all the time.

The institutions that eventually might come are brave kiddies such as pension funds, they are always the last one to enter.

They don't have to think about anything. I'm certain they don't even have the documents and all the comments near them on their desk or computer.

If you think logically, and look at the past, it's rejected already, people should accept it for once. How on earth will the market improve to whatever the SEC wants it to be in just a couple of months? It's nonsense. I sincerely hope that they finally do what they wanted to do from the very beginning, which is to wipe all existing ETF proposals off the table.


https://www.ccn.com/pro-crypto-sec-commissioner-dont-wait-on-bitcoin-etf-could-take-days-or-years/

Hours later;

https://www.ccn.com/vaneck-were-cautiously-optimistic-on-bitcoin-etf-approval/

They definitely understand what's going on, they just don't care because they hope that you drop your case and thus have the funds become property of Hitbtc. They break every single law of each and every country they operate in, yet enforce their strict hillbilly policies on people with iron fist. It's a first class scum exchange.

In order to test their 'willingness' to help you out even further, did you try to remove the black bar and only blur out your social security number? It might sound like a non attempt, but you can at least try since there isn't much to lose at this point.