it seems like nowadays everyone who wants to gain some popularity, even a short lived online one, they start by first claiming to be "experts" on bitcoin price then they start predicting its future price. and it usually is either a very big price rise (like $60k here) or a very big price drop (like drop to $3k).

it's just the hype they come for and the free advertisement and the media presence that they are going to gain for at least a couple of days.
if the prediction doesn't come true, they gained that popularity and they are forgotten afterwards. = win
if the prediction comes true they will gain another popularity because they will come out and say "i predicted it, i am a super expert". = win win.

there is a popular saying among bitcoiners (of course it is a quote from Mahatma Gandhi) that i think is the best answer to this. it goes like this:
First they ignore you, then they laugh at you, then they fight you, then you win.

enough said

that is exactly why the second layer solution was introduced.

with second layer such as Lightning Network you don't have to worry about things such as scaling and size of the blockchain and the limitations that entails. of course it is not the solution for everything  and it is not perfect but it is the best thing we can have and it will help the scaling of bitcoin so much that it opens up a lot of opportunities.

this was so insignificant in my head that i totally forgot about it LOL

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i was expecting someone to say this. but that is where you are wrong. there are always a lot of funds on exchanges belonging to a lot of traders. if there really was a panic then price would have dropped because those traders would have sold.
besides all these transactions aren't waiting for 20 hours to confirm at the same time. they ARE being confirmed so even if people were panicking to dump then we should have seen a slow drop as their transactions confirmed in each block every ~10 minutes.

price is pretty much the same if not risen! we even set a new ATH for the week

did your main account (kuwkduck ) get banned or something?

what exchange hack was last week? i missed that.
Bithumb thing happened today. and although i agree that people shouldn't really pay attention to these stuff but they do.
and this was a big amount. it is $31 million dollar which is nearly half what was stolen from Bitfinex in 2016 and by then price dropped 30% and the drop started before the news came out then continued down to $465



as i said in OP maybe because we have hit the absolute bottom?!
but it can not be a bait because the way these things work is that first the insiders dump and price goes down even before the news comes out. then the news comes out and the panic starts because people hear the news and see the price drop so they decide to sell so drop becomes bigger.
in case of bitfinxe first price dropped from $657 down to $600 and then the news came out and the big  drop happened down to $500ish then bitfinex approved the suspicious and said they have been actually hacked and price dropped hard down to $465

there is also a lot of activity on-chain in the past ~8 hours. the mempool size currently is 27-28 MB which shows people are moving their bitcoins around so there must be a panic going on BUT the price is not showing it at all which makes it even more interesting!
just for the record current price is $6761

https://jochen-hoenicke.de/queue/#0,24h

Bithumb was hacked yesterday and the news has been spreading in the major media for at least 14 hours now based on the article times[1].

price however has not shown any reaction to the news and on top of that in the past 14 hours we have had a rise. granted it was a small rise but still it reached $6841 a couple of hours from this news.

is this a good sign that we have reached the absolute bottom?

[1] https://www.ccn.com/breaking-south-korean-crypto-exchange-bithumb-hacked-thieves-steal-30-million/

newbies who get scammed like this will blame bitcoin nonetheless. it  doesn't have to be this one necessarily. they may lose money because bitcoin drops 1%! or they may lose the password to their wallet and then blame bitcoin for it. there are hundreds of cases like this on bitcointalk of newbies nagging and calling bitcoin scam because of the mistakes they have made.
and it doesn't stop there, there are newbies who lost money in altcoins that got dumped on their heads and they are now calling bitcoin scam

that is what i was also thinking and that is why i am taking this as a good sign that we are at the bottom. despite this news which has been spread like wildfire in the past 10-12 hours the market is still pretty solid and price has even risen to $6841 which is a record in the past 8 days.

this sounds pretty interesting and i believe this can be considered as a legit good news but this was one of the most disappointing rises of all times. price is pretty much the same as it was before. a rise would mean going back to $7k levels and staying there which has not yet happened.

in any case this Sqare Cash thing seems like a good adoption case which can help many start accepting bitcoin payments and send bitcoin to others as payment. it may not have exploded the market as we hoped for but in the long run i am sure it will contribute a lot to the adoption and the price rise.

drops like this are more common that people think. they happen almost every 2 years. we have some sort of a roller coaster here that is where the name and also that popular meme on reddit comes from anyways. the most important thing to have in mind is that no matter what swings happen in the short term the long term remains bullish and rising.

of course the slow and steady rise is superior to the fast and big rise which is sudden. because the slow rise is a solid rise that will stay no matter what but the fast one usually leads to a bubble which is unstable and won't last.

and it is not always about the profit, it is about the long term view of things. as bitcoin has more solid rises it forms a more solid support which is nearly impossible to dump into with manipulations that we are seeing these days.

since there is no usability and no future for any of the tokens out there holding them is kind of a pointless thing to do. when it comes to the times when they are dropping then the obvious course of action would be to sell them immediately because there is nothing stopping a dump of a token when it starts. it is sometimes like an avalanche that only grows as more bag holders join in.
the time to accumulate is only when the token is getting pumped. which is more like a one time big buy-in to join the pump temporarily to make a good profit.

according to Google the next US presidential election date is in 2020 (2 years from now) and he is advertising it now? to me this looks like another "i will eat my own dick on TV" episode which aims at gaining more public attention and probably he is going to increase the fee he takes for each tweet. what was it before $100k per tweet?

in any case i don't think McAfee is someone who really cares about bitcoin and what its future is going to be despite what he says. so even if he became president i don't suppose anything would change!

this sounds like an invitation to more weak hands though.
the "adoption" that we are looking for is a real merchant adoption so that bitcoin can be used as a currency, which is what it has always meant to be not an investment which it sometimes is these days.
so if you want to write about your "success story" then write it as a merchant or a customer. about how you got rid of scams such as charge backs and increased your sales. and how you  reached financial freedom by using bitcoin.

i think you may be confusing this with another similar named altcoin (or possibly this is just a bot comment that i am taking to). in any case Petro has been a working cryptocurrency which is centralized and issued by the Venezuelan government for months now.

December last year price was still in $9000 and there were a lot of good news coming out which means buying them meant a great opportunity to double your money in less than a month and even if you didn't sell and held on to it you still have made an excellent decision, just because price is now lower than $9k that doesn't mean it is real price.
we currently are in fake territory that is manipulated and kept down not the real value of bitcoin by any means.

altcoins have never been created to compete with bitcoin. they were created to help you earn more bitcoin! that is why they suck so hard even the biggest one ethereum is filled with problems which is why it is always going to be used as a pump and dump coin like the other 1600+ coins to earn more bitcoin profit.

there has never been a flippening to begin with!
it was all a marketing technique to increase the hype of a couple of altcoins including ETH, DASH, XRP and BCH and pump them harder. if you remember it all started last year during the drama of bitcoin and its SegWit and continued as these altcoins got pumped.

there are basically two types of people moaning these days.
the first is the newbies who thought bitcoin is a way to become super rich in a short time so they bought a tiny  amount of it and now are disappointed that they are not yet rich so they are complaining about it.
you should blame those who advertised bitcoin as a "get rich quick" thing to them.

the other group is those other newbies who think they know what FUD means so they continue talking about how bitcoin is supposedly going down and think if they say it enough times and spread enough nonsense the have done a successful FUD and they can see price lower so they can buy in.
there is just nobody to blame for this group they are just dumbasses out there