BTC still has fundamental problems at the governance and scaling levels.
Core cannot be trusted to solve anything or do anything that does not glorify their egos or benefit themselves in some way.
1mb blocks can't sustain a BTC price in the multiple thousands. That's just how it is.
BU or Classic will have to fork off and succeed if we are to move past these hurdles.
Yes - but given that the miners arn't interested in choosing BU or Classic, I think what will happen are speculative pumps from time to time, with various alts making a bid for teh crown. At some point an alt will succeed, and they'll be the future of cryptocurrency. Will you look at that, people are beginning to understand what i've been saying for years. |
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I guess this pretty much guarantees we will visit $600 again.
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We've seen this all before.
Now that the last hopes of a continued rally are harshly shattered by this bull trap it looks like we are in for another slow dramatic decline.
Last time it was from 700-800 towards 200, i suspect this time trend reversal may occur again around 300-350.
It was a nice run but until Bitcoin gets fixed at a fundamental level, these prices are unsustainable and marketcap will keep on leaking to superior coins.
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Looks like it was a bull trap eh? Here we go again!
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Price has dropped but I wouldn't call this big crash. It's the correction which is normal and expected in situation like this. Bitcoin was constantly climbing up very fast so this drop it's some kind of safety trigger, let's call it so, but I do think it will go bellow 800$ and after a while will start to pump again.
You have to be a bitcoiner to be so delusional to consider a 27% drop in value in 30 minutes not a crash. |
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Lol it's not just going down this thing is vertical. Gox all over again. Lmao
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Juup aaaand here we go again. Hold on to something guys, it's going to be a long way down.
There is basically no demand up to around $500. Anyone holding a few coins can cause complete market panic.
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The bubble really seems over now. We can expect one or two more big dumps before people start panic selling and the whole thing crumbles down to 300-500 again.
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The attitude here is so toxic and it is what ruined bitcoin in the first place.
Everybody is concerned with how much profit they make in dollars or euros instead of being part of a new system that moves beyond fiat. Sickening...
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Because it's a russian scam site.
It's hard to get money on your account and even harder (if not impossible) to get any coins or money out of it.
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I can't think of 25 reasons but the fear reasons that are there are critical and giarantee the crash just as well.
I'm willing to bed a good sum of money on this, again, of course nobody will accept this bet as always.
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It will drop as it always does but I think / hope that it drops too $900 or $800 at the lowest, I think this time around we see a much more stable and slightly more experienced coin.
If no major hacks or other similar things happen as has been the case in recent years, then I don't see any reasons for the price to drop below the $800 level. But I too believe in a correction to happen any time soon. We can't keep up supporting these levels as the pressure is building up with the day. It just takes a few large traders to cash out to trigger others to follow them with dumping. Better have some fiat ready to buy back in case you secured profits. You see nobreason for it to drop? Are you delusional? The protocol is fundamentally flawed. There is barely any support until around $500. The exchanges have likely been hacked or more likely been infiltrated to make this possible. We are set up perfectly to drop down hard. $500 here we come. And with all the fear happening then we will probably fall even lower go back to the 200-300 range again as we've seen before after we all got played by the manipulators and hypers. |
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Considering the extremely low demand in the orderbooks i would say this trend won't last more than a few weeks.
Although it's hard to tell. It's clear the manipulators have infiltrated the exchanges at the highest levels. Only that can explain the weird things going on at the exchanges and such a weak orderbook pushing so hard up.
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Obviously it's not.
The thing to keep in mind though is that bitcoin is fundamentally broken at protocol level. It doesn't scale and has no regard for users privacy or anonymity.
Current prices are the result of hype and internal exchange whale manipulation. Just look at the market depth, there is no support till around $500.
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Bitcoin is still under development and It there is definitely a solution for both privacy and anonymity[1] , Darkwallet was something that everyone was waiting but It's now pretty much dead, an alternative for the moment is the mixing services , even though It's not that secure. Hopefully , SegWit will get activated in the future and both Lightning network & TumbleBit will follow. [1] https://github.com/BUSEC/TumbleBitThanks, I didn't know about Tumblebit, i'll read up on it. |
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One of the biggest core problems of bitcoin is its lack of privacy and anonymity.
Do you think Bitcoin will adapt and accomodate users that want more privacy and anonymity in the future or will they need to use one of the superior coins out there to serve their needs?
It seems to me it will be near impossible to enhance the protocol without breaking (hardforking) it and people losing coins that are for example locked in scripts.
On the other hand i think this is a critical feature that has gotten people interrested in Bitcoin in the first place but turned out to be nothing more than hot air. It needs to do something in order to stay ahead of newer superior coins that address tis and other big problems.
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@orpington
@lambdaE
Besides the support being extremely weak at this point.
The most important indicator is flawed fundamentals that are not being resolved, this pretty much guarantees a system doomed to fail in its current state.
The only thing countering this downward spiral is hype and manipulation. Hype will blow over but the manipulation can be sustained for quite some time, as long as there are fools to trick.
We need crypto in this world but bitcoin isn't the solution (at least in its current form).
The price will reflect this.
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Today, many people are skeptical about the growth rate of Bitcoin, they are thinking it's a typical investment bubble, but I don't think we need to consider the digital currency as another form of securities. Rather, it can be compared to email, websites, MP3 and ebooks. This is a technological innovation that will soon be able to replace the technology of the past – namely, the usual, fiat.
It could be that. Unfortunately that is not what it is with all the fundamental flaws in the protocol. And even worse, what the community made of it. |
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As you can see here 95% of all btc is contained within 0.17% of all addresses.
Of course most addresses don't have any coins in them anymore. An address that has not had coins spent from it is more secure than one which has. Therefore, the most prudent thing to do when spending a partial balance is to send the rest to a new address that you also have the key for. Sample size of one, most of the addresses I've used now have a zero balance. But I know this is common practice for many people and businesses as well. Not to mention mixers and other cases where coins rapidly change hands. And of course zero balance addresses are excluded. |
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kwfukduck is legendary.
Yep. Just look at that chart going up right now. I was so wrong... |
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