Cheap Coin Target: 630$ i'm moving my cheap coin target up, i was expecting another leg down post halving but the clock is ticking and we aren't dropping... its starting to look more likely that 599$ will not be reached, 630$ is a more attainable target. if we aren't to paint a big fat red candle down, then i suspected we'll drift upward into 700's sooner then you might expect. as i was typing this out we see a spike above 666, lol ... Cheap Coin Target 649.99$ |
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Cheap Coin Target: 630$
i'm moving my cheap coin target up, i was expecting another leg down post halving but the clock is ticking and we aren't dropping... its starting to look more likely that 599$ will not be reached, 630$ is a more attainable target.
if we aren't to paint a big fat red candle down, then i suspected we'll drift upward into 700's sooner then you might expect.
i was about to update bitmovements... yup its looking good. |
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Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?
Increase the fee associated with the transaction and you've got a fast confirmation. If you are not in any hurry for a particular transaction, you can lower the fees. Higher priority => higher fee Lower priority => lower fee Get the estimates here: https://bitcoinfees.21.co/i think fees are set to go slowly higher, even with segwit + LN, i bet there will always be alot of TX demand on-chain. An incress in fees will incentivize poeple to use the second layer's nearly free TX. Bitcoin has become more popupar and so does the number of transactions. An incress in fees will supplement the halving reward of bitcoin in some extent. the doubling in capacity segwit provides = 2 X the fees once TX volume starts hitting that new 2MB limit, and then fee go up... miners will be alright... eventually there will most likely be yet another doubling of the blocksize to 4MB, maybe devs will end up doubling it every halving?? who knows... |
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Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?
Increase the fee associated with the transaction and you've got a fast confirmation. If you are not in any hurry for a particular transaction, you can lower the fees. Higher priority => higher fee Lower priority => lower fee Get the estimates here: https://bitcoinfees.21.co/i think fees are set to go slowly higher, even with segwit + LN, i bet there will always be alot of TX demand on-chain. An incress in fees will incentivize poeple to use the second layer's nearly free TX. |
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Any idea when will the block size issue be fixed?
short answer, probably never shorter answer, soon. long answer, There is no block size issue. Nothing is broken. there is a TX limit that is self imposed by the network because of the theoretical TX limit , which, if reached node centralization will occur ( altho there is a group of poeple that beleive node centralization was always part of the plan) , this limit is based on the internet speeds/bandwidth incurred by nodes. this limit is meaningless for " private off-chain bitcoin TX" ( aka Lighting Network ), the current Lighting Network is in dev, i know of 2 project which aim to bring a second layer to bitcoin which will have practically no limit. they both depend on segwit implementation to be widely adopted. I believe segwit will take time to be widely adopted maybe a year, and by then the Lighting Network will be in great shape. so in ~1year it should all come together and we'd see headlines like " bitcoin adopts new TX layer, which allows it to handle >100,000TX/sex ". |
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i think if bitcoin price is stable bitcoiners might become more productive and start making more money, so thats why price simply cannot remain stable for long.  |
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Let me check what time it is.
Oh yes,
Time for the lil mBTC bitches to sell me all there "bit's of coin" |
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if i had really big balls i'd be trying to go in balls deep right now...
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 my bet, false break down followed by some intense buying popping over 666 once and for all. bitcoin breaks the shit out the triangle and doesn't give a shit. yes this seem highly likely |
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The big triangle should break one way or another several hours from now.
agreed. I suspect down, but obvious trap is obvious... if your mid term target is lower then 650 your doing it wrong.... |
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Post Halving, The Road Forward Today is 7/9/2016 the day the minning rewards were cut in half for a total of 12.5BTC per block. Roughly 4 years from now we will halve minning rewards Again, and again, and again, and again till the end of time. Looking at the chart I conclude that this halving has been priced in and priced out. traders that bought bitcoin before halving simply to sell higher, have bought and sold ( or are in the process of collecting profits now...) already. So now that all the speculation surrounding halving is over, ( one last leg down? maybe... ) now we can look forward to the real effects of the halving on the market, which are subtle but long lasting. newly minted coins being sold on the market account for a small % of daily volume on the BTC markets, even if every single coin mined was sold right away, this would still only represent a small % of daily volume. so i dont expect a huge effect on the market, but i do expect slightly less selling pressure, from this point on. and we are in a bull market so that slight decrease in selling pressure might be the little push we need to build more momentum, and make the beginnings of a bubble. Adam's prediction: one last leg down? maybe... but then back Up! Adam's Cheap Coins Target: 599.95 |
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feels like someone or something is hodling market bellow 666
well played sir, well played...
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Reward-Drop ETA: (23 hours)
come back tomorrow folks
party starts at 9
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Mat go Long and HODL!
FFS......
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Wait are you still stuck in the "bitcoin is nothing because i can hold it with my hands" phase? This is how the average 60 year old reacts to Bitcoin when you mention it to them. Are you fucking kidding me? What are you still doing on this forum if you haven't understood anything yet after all this time? lol.
blah blah blah.... .....yeah yeah....there are plenty of other p2p ledger algo's that do exactly the same thing as Bitcoin can do, can do the same things better, and can do much more than Bitcoin can do. Only thing Bitcoin has going for it, is the network effect. Unfortunately, that 'network effect' has essentially relocated to, and concentrated itself in, China. Never again, will anyone be able to faithfully and correctly claim, that Bitcoin is 'decentralised' currency for the digital age. It is totally centralised. Over the 70% of the mining capacity is in China, which is dominated by essentially two big miners, and the same 'distribution of wealth' problems affect Bitcoin now, as they always have done, with the difference being a dominance of Chinese based whales over Western based whales. This situation is not a lot unlike the Rothchilds, or JP Morgan cornering the gold markets back during the era of the gold standard, but at least these guys never had the power to make gold that the Little Man held in his hands, vanish. The Chinese authorities have that power with Bitcoin. On the say so from the PBOC, the Bitcoin network could be killed overnight, at any time. It would be naive to imagine that the Bitcoin phenomena could survive the effects of 70% of the p2p network processing capacity going down overnight, let alone the panic this would induce on the exchanges. How likely this is to happen or not, I don't know. But the fact that it can happen, means Bitcoin will never be embraced as a safe haven asset by any serious amount of Western Capital... ....Meanwhile, from 2moro evening onwards, it is going to cost miners on averaged, around $500 to produce a single Bitcoin in order to keep the whole network going, the network which is already painfully slow, with it not being uncommon for transactions to be delayed for hours. Bitcoin is of course currently trading well above that level, basically cos 'they' pumped it up well above that level....but in the absence of the Whale pumpers, and any opportunistic speculators looking to make a fast buck on the 'Halving Pump', is the organic Bitcoin market really capable of demanding a $500+ price tag per Bitcoin, essential for keeping the whole overbloated system running? Bitcoin Kool-Aid merchants need to realise how fragile this thing really is. blah blah blah.... All the miners in china blah blah blah.... you fail to understand the difference between decentralization and hashing power distribution. there is no central point of control over bitcoin even if 100% of the minning was done in china this statement would still hold true. bitcoin is a decentralized app. |
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