$3000 is people's safe haven level it seems. I am in that camp as well, but it does make up for a scenario at which whales could on purposely choose to demolish that level. Imagine the panic going through the market if that happens, perfect last shakeoff attempt it is. I'm sure that when $3000 breaks, even a part of the Bitcoin OG's will start to feel uncomfortable.

I would say the best thing to do is to place buy orders between $2000 and $3500 to make sure you don't have to manually check and act. I have done it already and now it's waiting for my orders to get filled. I'm confident that the orders between $3000-$3500 will get filled in the coming days, everything below $3000 is a bonus for me.

How can people calm down? They bought themselves into something they only thought could increase in value. It doesn't. They are disappointed.

It may sound harsh, but there is no infinite amount of coins that will be sold, and the sooner people sell, the sooner the market will be able to find a way up again. Free money doesn't exist. All those who thought to become rich overnight ended up with less money instead of more. It's an expensive life lesson. Don't invest in something you don't know shit about.

The shakeoff isn't over yet until we test that $3000 level.

It may shock you, but Bitcoin's transaction throughput currently is like 3-4 per second. You shouldn't pay attention to theoretical transaction throughput per second figures, because real world usage easily nullifies these figures. What matters is transaction throughput per second based on how much block space is being used.

If we look at the top 6, then this is how things currently look;

1- EOS 16-17 transactions per second.
2- Ethereum 6-7 transactions per second.
3- XRP 4-5 transactions per second.
4- Bitcoin 3-4 transactions per second.
5- Ethereum Classic 0.55 transactions per second.
6- Litecoin 0.28 transactions per second.

Fundamental failure of Bitcoin? I think it's more so that we can talk about the fundamental failure of speculative tourists who inflated the market beyond the moon last year.

Last year I was literally thinking, ok this is the top, $4000 this is it, $8000 it can't go higher, $10,000 yup, we're done for sure, etc. We're rolling back the bull run and start clean with prices that are healthy, and more easy to support. I'm certain that investors with sense are near the point of wiring money to an exchange to enter the market.

$3000 looks like the only serious level at which the market can bottom out once and for all.

If they managed to push people's buttons, it means they are gamblers, and here only to fill up their pockets.

If you are here for Bitcoin's underlying tech, you will just laugh at anyone who thinks you're doing the wrong thing. If people tell me Bitcoin is this or that (negative meaning), I really feel sorry for them. They aren't only showing off their ignorance when it comes to Bitcoin, but also showing off their ignorance when it comes to the greater extent of what economics represent.

Bitcoin isn't here just to offer people more convenience. Centralized services already do that. Bitcoin's existence has a meaning. If people can't figure that out, they probably shouldn't be here in the first place. This also applies to all the XRP idiots.

People shouldn't even attempt to master it. It's way better to focus on reliable forms of income rather than something so flashy and tricky as trading.

Trades in most cases end up being a disappointment, regardless of the outcome. If you buy at $100 and the price falls to $70 you are disappointed. If you buy at $100 sell at $120 but the price goes up to $150 you are yet again disappointed. In other words, the nothingness in trading continues for as long as you keep traing.

I do occasionally watch all these bigshots on youtube pulling out their charts and draw lines in all sorts of directions. You know what my thought is? Get a life. Seriously. Some times they have drawn so many lines and triangles, that you can't even see the base chart anymore, lol.

The sort of hope you are referring to is useless, and people with similar mindsets are being shaken out of the market as we speak.

People need to rethink why they are here in the first place. If you understand why Bitcoin has value in the first place, what's happening in the background in terms of progress, you wouldn't think about selling but try to stock up as many coins as possible within what's financially feasible for you.

The hashrate of each coin has dropped significantly in the last weeks, while Bitcoin's hashrate remains somewhat stable, and that after an almost 50% reduction in price!

It could very well be institutions artificially working towards a bottom, shaking out noobs in the process. In a market as thin as it is today, institutions can easily sell the market down by dumping into their own orders. They might lose a certain percentage due to smart traders trying to benefit from the lower prices, but they make up for it on the OTC market.

People who thought Bitcoin's easy pump days were over around $20,000 can breathe again. The price pumps nicer from where it is right now back to its all time high than from the peak to whatever higher level.

It would be hilarious if the $3000 level (which most people have so much confidence in) turns out to be nothing but a wall of paper sellers easily burn through with their fierce selling pressure.

Don't forget that plenty of stop loss orders will be lined up just under or over $2900 which might tempt whales to troll the market even further by triggering these orders. It pays off to set up buy orders well below that level just in case. If they are triggered, you at least made sure to have bought coins well below that support level you probably wouldn't be able to buy at by doing it manually.

While everyone here is losing its cool, Bitmex is generating tons of profits. It's a money making machine not caring one single bit about what direction the price is heading to. They want your everything at any time of the day. Do you guys see how Arthur is always smiling from ear to ear? He's the real G in town.

It's funny though, people first say we need a firm shakeout to get rid of weak hands, now we're having it, it's suddenly horrible? This is what you asked for.

How about those who kept saying that if the price would dip below $5000 I would buy in an instant? Here it is. Utilize it if you have balls.

Buy the dip has been a nightmare for most people this year, lol. What's the right dip to buy when almost every dip turns out to be the wrong one? 

I foolishly tried to long this shit a couple of days ago on Bitmex hoping for a quick bounce, and paid the price for it. I'm not doing anything related to trading anymore. I'm just averaging my way into the spot market, and patiently wait for things to cool off.

How the heck does Stellar still have a near $3 billion market cap after all this selling. It's mind boggling how this utter garbage is still worth that much.

What a shit article. Bitcoin's hashrate dipped just under 36EH like two days ago, but is now hovering around 47EH.

https://www.coinwarz.com/network-hashrate-charts/bitcoin-network-hashrate-chart

Situation as it is; weak miners out, competitive miners fill up their gap and scoop up all the Bitcoins.

I knew news outlets were easily fueling panic, but this is absolutely nuts. The amount of bearishness going through the market is insane, and I can't detect any $20,000 before the end of the year noobs anymore. When everything turns bearish, smart minds start loading up on Bitcoin.

People like to connect the dots that are the closest ones to connect to. We're witnessing pure panic exactly like what happened last year. Every time you thought the top was in, the price broke out higher, and we're following the exact same patterns right now. Today's bottom will turn out to be tomorrow's peak. It's clear, we're stearing towards that $3000 level.

$3000-$3500 is where I'll pump 25% of my total current fiat net worth in Bitcoin.
$2000-$2500 is where I'll probably go big with 50% and not touch anything anymore after that. It will be done and over.

25% in fiat is for mental comfort. I go big but never all-in.

Everything technically is a risk. Even if you own a basket of every asset and fiat currencies from the strongest economies in the world, there isn't a way to rule out that you might lose everything one day.

You need to look at the very basics, what has value if everything else we think has value right now stops having value?

Real estate; we all need a roof over our head, and you might accumulate passive income by allowing others to rent that what you don't directly need.
Food; we all need to eat.
Weapons; we all need to protect our family and the few things of value left that we own.
Gold; it has proven to hold strength for thousands of years as medium of exchange.

I probably forgot to list a few other things, but you get the idea. The very basics, that's what people will revert to when everything else implodes.

Bitcoin broke through its yearly support, which resulted in so much panic, that the fierce selling pressure was enough to have BTC almost outperform altcoins in terms of % movement.

Altcoins act like leveraged instruments and exeggerate every movement of BTC, but with so much selling pressure even BTC can't do anything other than go down like 15%. If you also add that there is limited market depth, the price tanks hard, there just isn't a way to put it differently. Bitcoin has to swallow sales from both the altcoin market and its own market, and when both simultaneously pressure BTC, this is what you get.

Is it possible that BCHABV vs BCHSV camps sell BTC to pay their bills? It is, but it goes through BitPay, and they don't sell unless they have no other option.

Spent Bitcoins should be replaced, immediately, or later if you expect the price to go down. I definitely understand that average joes aren't going to waste their time doing it, but I expected someone like you to replace that what's spent.

I probably spent thousands of dollars worth of Bitcoin last year on the way up, and I conveniently bought everything back on the way down. I'm not sure how the situation within your jurisdiction is, but I can spend coins without having to pay tax over them, regardless of the transaction value. It's a convenient way to lower my legal net worth without actually breaking any laws.

Bitcoin mining isn't just more profitable, but also more preferred even if it's less profitable in this case. Mining BCH nets just that, BCH. Mining Bitcoin nets BTC, which they use to convert to BCH and directly inflate BCH's price. It absolutely stings Roger and Bitmain that they can't fully mine Bitcoin because they constantly have to allocate hashrate to their own chain if BCHSV's hashrate increases.

nChain and CoinGeek have a firm grip on the situation, and the 'hash war' only ends when these assholes stop threatening to attack the BCH chain. It's a nasty situation and I have seen at least one service already that ditched BCH, and rightfully so.

People get what they pay for. If you hand over a fortune to someone who supposedly knows what he's doing, you can bet your left sock that he'll mess up eventually, especially when it concerns speculative asset classes. They don't know more than you and me, yet gamble with money (because its not theirs to begin with) in an attempt to nurse their greed.

As quick as most of the crypto related funds popped up, they will disappear with their tails between their legs. Genius on the way up, loser on the way down.

I understand that way of thinking, but if after decades the situation hasn't changed one single bit, it should be clear that it never will. Complaining about the system is easy, trying to lift yourself out of poverty isn't, which is why most people don't even attempt it. I'm sure many of them don't even know where to start because they lack economical understanding. People for that reason just accepted that the situation is as it is.

That's why I like Bitcoin. It makes people become interested in economics and at the same time makes them aware of how rotten the system really is. Money is getting worth less by the month, and current levels are the perfect moment to stock up on Bitcoin. Buy the market all the way down before your fiat currency loses so much value against the dollar, that you regret not having bought sooner.

BitPay is an absolute disgrace to this ecosystem. Instead of making it easier to use Bitcoin for average joes, they made it a whole lot more complicated. They also require an additional fee if you want to use their service to pay with Bitcoin, which is ridiculous. They can easily avoid the generally higher legacy fees by going full Segwit, but that's not what sugar daddies Roger and Jihan are interested in. Shame on them.

I don't take anything that these muppets say seriously. Bye bye BitPay, welcome any service adopting Segwit and LN.