Bitcoins protocol fundamentals are still broken. Bitcoin does not scale, offers no privacy and no fungibility.
The community largely still only cares about making profit in fiat, not about establishing and evolving a revolutionary alternative monetary system.

Sure call me a moron when you run out of arguments.
Still waiting for valid arguments why bitcoin is so great compared to crypto 2.0

I would recommend cutting your losses. Big money is on crypto 2.0. Bitcoin is outdated and not adapting to real world user demand and expectations.

It could be hyped and manipulated again but it gets harder and harder as the community becomes more aware of bitcoins fundamental flaws.

Many of us don't hate Bitcoin. We recognize its flaws and hate the communities delusion and greed that prevents it from actually growing to address these problems. As long as bitcoin doesn't scale or offer good privacy and fungibility it fundamentally cannot sustain a high value ($500+). That has nothing to do with anyone hating bitcoin and everything with what is technically and economically sustainable.

I doubt it will ever rise this much again. We are at a 3 month low and people are more and more aware of Bitcoons inherent flaws and quickly looking for alternatives that DO provide what they promise.

Bitcoin is old tech. Smart investors and whales are moving assets into blockchain 2.0 technology. There is no coming back from that.

Yep totally not a bubble... lol
The fact remains that bitcoin has big fundamental problems with scalability and fungibility.
Adapt or perish, it seems like we are going for the last option.

This is crazy... panic is completely escalating. Where have we seen this before? Ah yes... MtGox 2.0 here...

I see now that both systems are vulnerable to sybil attacks. :ĺ

There is nothing holding the price down. There is however big manipulation to try to keep the price artificially high to prevent the whole thing crumbling down. In the mean time big whales are cashing out.

The way TumbleBit works essentially requires a 3rd party service for an essential part of its function.

I think it would be way better if everything could be done on-chain 100% within the bitcoin protocol itself.

I know ValueShuffle also has some form of centralization for easy inplementation but it can work 100% on-chain if implemented.

Am i missing something about TumbleBit?

I'm surprised this hasn't been talked about here.

At the end of last year a paper was published building on Bitcoins current protocol with SegWit activated.
Resolving what i consider to be Bitcoins biggests shortcomming/flaw, its complete lack of privacy anonymity, and with that even more importantly, fungibility.

I've been rambling on about this for years now, mostly being ignored and made fun of.

Here are people that do consider it an issue and actually found a working solution:

https://bitcoinmagazine.com/articles/valueshuffle-brings-together-the-best-of-both-worlds-for-privacy-1483557170

What would the drawbacks be to implement this?

Does the core-dev team have any plans to prepare Bitcoin for a strong future with this?

Next to SegWit i feel this should be top priority for Bitcoin to stay strong and actually become what many of us wanted it to be right from the start.

My predictions are based on the critical issues i pointed out above and on many other occasions. However, this is not the only effect at work. Hype and manipulation are an extremely strong factor still. This does not mean my points are invalid. At best it means i have underestimated the strength of the hype and manipulation in the past.

Ok, it boils down to this; Bitcoin is running at and over peak capacity already as it is. It does not scale. Even if SegWit becomes active this just pushes the problem ahead a little. There is still no concensus about how to solve this problem and a lot of people even think it shouldn't be addressed at all. This is a serious problem is we want Bitcoin to grow its use base. Other coins aolve this problem.

Another critical point is its complete lack of privacy and anonymity. Yes it is possible to make it complex to identify and track people and their usage but that's difficult, expensive and time consuming with bitcoin and certainly not safe.

For the digital currency of the future both these points are critical and if not addressed will be serious growth and application limitations if not its demise.

Now you can expect a flood of comments of people calling me a fudster and worse without even the smallest attempt to resolve the problems or show how these are not problems.

I don't care about the price, hype or manipulation. I look at protocol and network fundamebtals and how basic markets and economics can work.

Maybe wait a bit, we're about to fall under $800

It's going fast again. Sub $800 within the hour.

Here we go again! Sub $800 here we come!

A full block is a full block is a full block. No amount of fees will solve that problem.
If you get up to idiotic fees (which is already the case) somebody else gets pushed out.
Only the top fee payers get in, for the rest the system will suck. How very future proof...

It's NOT fine!
We need the fundamentals fixed if this is going to even survive at all.
Right now superior coins that solve bitcoins core problems are rapidly gaining userbase and i suspect them to soon surpass bitcoin.
I had hoped bitcoin would be the crypto of the future and be fixed along the way. I guess i overestimated the community in their intentions of why they are involved with bitcoin.

Right... you realize the network is already operating at and over max capacity...? With transactions taking 12 hours or so to get into a block.... How can that sustain even 1k usd?