One has to be delusional to not think an huge percentage of these coins are going to stay there, at the mercy of coinbase's policy on hard forks.
Noobs only care about 1) when they will be getting access to their fork coins, and 2) what the price will be they will sell them at. In no shape or form do they even consider the possibility of Coinbase doing something that these people may not like. It's greed that's blindling them, and this same greed will at some point be their downfall. Essentially, it's not just fork related, but also when it comes to how easily people just choose to go with a wallet service to store their coins. If the government comes up with whatever new regulations, and this wallet service starts forcing people to verify themselves, they will start to understand how stupid it was of them to store their coins online. People mostly only learn when they walk themselves into problems. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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Everyone complains about how they manipulate all of the other financial markets of the world. Cryptos will be their next target.
Complaining is pointless, because if you're completely honest to yourself, you would know that when institutions enter this market with their war load of billions, they will completely change this market. Even current whales that are pushing the market back and forth are nothing more than a joke compared to these entities. Bitcoin and crypto in general is no longer a joke or fun/hobby thing like some people here think it is - these times came to an end a few years ago. It may sound harsh to some people, but Bitcoin is indeed nothing more than the next thing for them to bank on. They will chew on this market, and once there is no more taste left, they spit it out and move on to whatever else they find interesting enough.
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Miners by that time will mine the transactions fees, which will become even more rewarding than the current block reward, so it will change nothing.
It depends. If enough people end up transacting through off-chain implementations, these fees might not end up being as rewarding as you believe they will be in the future. Sure, there will always be a decent level of demand for block space, because that's what you need when it comes to off-chain implementations such as Lightning Network, but I am a bit more reserved in this case. In your scenario, it will mean that the majority of the people will still continue to transact on-chain like they do now when sending Bitcoins back and forth. Either way, there is no way to find out for us what's exactly going to happen, because we're not here anymore by that time. ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif)
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What a contrast between the wall street giants. Goldman Sachs is known as being one of the jerk banks of wall street, but yet they are the one who don't seem to be aggressive against Bitcoin, while they are probably the first I would expect to hammer down on Bitcoin. Another thing is that Goldman Sachs has been stated to potentially launch their own trading platform that would allow institutions and wealthy clients to jump on board, so in a way, this softness has a reason for them to not write Bitcoin off like his other fellow bankster Jamie Dimon is doing. If that platform comes to life, it will open the doors for billions in dollars to be flowing into this eco system, and that alone is enough to look forward to.
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Most of us doesn't think that marketcap is insignificant.
I do. It's pointless to take the combined market cap seriously when you take into consideration that a whole lot of altcoins are insanely overpriced, plus the fact that their large market caps are the result of the sheer number of coins in circulation. If you want your coin to have an instant market cap of like $100 billion, then just release a coin with a 100 billion coin supply, buy/sell 1 unit at $1, and there you have your $100 billion market cap. There have already been a few coins with a market cap of like $1000 billion, but they have been removed from coinmarketcap's database, so it doesn't mess up their statistics. Just have a look at this and see for yourself what shitcoins have insane market caps -> https://coinmarketcap.com/coins/views/market-cap-by-total-supply/
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Noone can exactly forecast future price but there are some tools to check the given information.
Even proper analysis of this market doesn't seem to hold much value anymore. At this point it's smashing through every resistance point people thought it wouldn't go over, and yet we see that the market can't seem to be put to a stop any time soon. At this point the only thing that we can hold on to as being a potential reason for the price to go down, is to wait for an overdue correction to kick in, or people to start selling after the S2X fork has been initiated. It's likely to happen, but even when something is likely to happen it may not even happen. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Market cap gonna be big if bitcoin price hit 10000$ on first quarter of 2018.
And then what? The market cap is nothing more than a statistical figure, that at this point doesn't hold much value. People should adjust their focus away from market caps.
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It will be too late when the price of bitcoin is already good at $100,000 - $500,000 and by that time you just suddenly realized that you want to invest in bitcoin.
Even then it doesn't necessarily means that you're too late. If institutions will pump billions into this eco system consistently throughout the years, the general adoption keeps picking up, which is a process that takes plenty of years, we might even see the price hit $1,000,000 at some point. Difference will be that instead of buying a fraction of a Bitcoin, which will result in you buying 0.0000XBTC, you'll end up buying 1,000 or 10,000 bits. Exchanges and whatnot will all drop BTC as being the default nomination. Don't wait for that moment, while the hype is real keep on investing in bitcoin and don't believe with such FUDs out there.
I don't see this as a hype. Bitcoin actually serves a purpose, and that's more and more getting appreciated by the regular people.
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Am I the only one thinking BTC is gonna crash on mid November? Been buying some more XMR for cold storage, just in case sh*t hits the fan.
I too expect the market to take a step or two back after the fork has been initiated, but that's not more than normal considering that we have gone up a lot already. See it as a due correction, combined with people selling the coins that they *potentially* bought in order to end up with more split coins. In this case, purely for trading purposes, it wouldn't hurt to either liquidate some of your profits at current levels, or to use an alt as hedge (which you seem to have done, and at least it's a decent one to go with). I am not into altcoins, so I chose to liquidate some of the profits first at around $6900, and today another percentage around the $7300 level. I am prepared for whatever happens in the coming weeks.
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what rules do you mean? bitcoin is not bad and not breaking any rules
I'm fairly sure that he isn't referring to actual rules, but more the standard analysis aspects that (for quite a while now) may or may not suggest that we are nearing the peak. It's pure madness if you think about the +600% increase we have experienced this year - no one could ever predict this to happen in such a short period of time. It's a big punch in the face of all skeptics that were constantly talking down on Bitcoin like it doesn't serve a purpose, is just a bubble, has no value, etc. It's the average joe that is buying into this market lately, and they don't seem to care about anything anymore, and just want to get on board at any cost. Best thing is that this is still just the beginning of what has to come -> adoption takes time to pick up further, so we can expect this growth to stretch out further for plenty of more years.
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I don't know what will happen, but the confidence (and arrogance) of the #No2x people makes me think that pain might be coming for the legacy chain.
It might seem like wishful thinking, but at this point basically anything can happen. The only thing that's certain is that all speculation we see is being pumped into the internet, is empty and hold no value until the fork has actually been initiated. I am prepared for basically any situation, and for that reason I will not directly cash out all my S2X coins. This fork is confidently said the last major obstacle for Bitcoin to overcome, and in case we walk out with an as limited amount of damage as possible, we'll blast through the $10,000 level and beyond like it's nothing. Other than that, I do expect quite some trolling and shilling to happen in the coming weeks, but it's all part of the game I guess.
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It seems that Japan and South Korea have pushed the market a bit further than the west, but that's not much to be surprised about considering the higher overall demand there. The only actual USD exchange having reached $7000 was GDAX, and the rest of the exchanges who reached $7000 and up were all in non USD nomination. Honestly I was expected a correction of the price after 25th of October, but the price just continue to beat new and new records!
BTG is too insigificant to make people buy up the market significantly, just for the purpose of ending up with more split coins. S2X on the other hand, might be the one taking the market down after the chain has officially split. For that reason I do expect a correction to kick in after the fork. See it as a very decent buy back opportunity, because from time to time it's good to cash out some profits, which is exactly what I did. Everybody were saying that 10000$ is the target for the next year only, but now I am asking myself: "maybe this year already?" ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Nothing is impossible anymore, that is a proven fact this year.
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I think bitcoin investment is not risky like other investment.
It depends on what you plan to do with your coins, and your mental stability. If you plan to use your coins for trading purposes at some point, you'll be exposing yourself to very high risks, especially when you don't know much about this market. If you just plan to hold them for a few years, then the overall risk is very low. The only risk at that point is your mental aspect, and especially at the time the market is tanking and you think you're 'losing' money. Most people can't handle that and just sell to prevent further losses. What they don't understand is that as long as you aren't selling your coins, you aren't losing anything. People's problem is that they are far too fiat centric and completely forget that their 1BTC will always remain 1BTC.
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It can't endlessly go up without another correction, that I believe too, but what's important to realize, is the potential effect of the hard fork that makes people buy more Bitcoin. S2X futures hit 0.16BTC, which I believe is still somewhat low compared to its price at the time the initial dumping stage is over. In that regard, as long as we have this hard fork ahead of us, there is a good chance that the market will keep going up before a correction kicks in. I have taken some profits just above the $6900 level, just in case. I rather not be surprised.
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None of the major USD exchanges has touched the $7000 level yet - all have remained under that price still. Other than that, with how things go right now, and the hard fork possibly steering the market up, $10,000 seems to be a formality rather than a difficult achievement. In most cases when certain things happen too often, the fun and interesting part of them vanish, but that's never the case with Bitcoin breaking through new highs constantly. If you would ask people in December of last year that we would reach current levels in the next year, they would laugh in your face. But look who's laughing now, holders can just sit back and relax seeing their wealth increase - life couldn't get any better, or can it?
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I am not sure what they mean by percentage redeemed, does that mean taken out of circulation by WEX buying them back at market not 1:1 ?
They used the significantly lower rates of the debt tokens to buy them back on the market, and thus lower their active debt without paying the full 1:1 price. In other words, people who put their coins in the market, will never get 1:1 as WEX will buy these debt tokens at current rates. You will only get paid the full 1:1 ratio (if ever) if you patiently keep them in your account. It was to be expected, and honestly, you can't blame them for buying back their debt at far lower rates. All tokens move below the 0.6 level, and some even below 0.5 currently.
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When we say blockchain, they only think bitcoin and Money. The technology is much more bigger than this and it can change the fortune of the entire world obviously. People should understand this fundamental.
Those who actually care about the technical aspects of Bitcoin, and understand what it is that makes Bitcoin stand out, add value to it, but that's not the case when it comes to the majority of with greed filled empty headed chickens here. For them Bitcoin is nothing more than a tool that allows them to invest in, and book a nifty profit potentially. Bitcoin is the financial freedom people have been waiting for so long, but they just need to realize it themselves. Believe me, when the general public starts converting even a few percent of its wealth into Bitcoin, governments will more than ever feel that they are in a losing position. It's time to cut through this on debt based system, once and for all.
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There are different reasons on why people will stop buying bitcoin. Maybe BTC money is getting low or etc.
Perhaps when it comes to noobs. If we look at the majority of the people here with a decent functioning brain, they see a lower price as a major incentive to start accumulating. I have never done anything else than accumulating at the time the market tanks. If the demand is getting lower, the bitcoin may end its' journey but I think this will never happen because every day, more people are joining here in bitcoin.
There is nothing wrong with a decreasing demand. It happens in basically each and every established market - there will always be periods of higher and lower demand, but that doesn't mean it's the "end" of a certain market. Bitcoin has gone through certain periods of time where the overall demand has decreased, where after that the market stagnated for quite a while. Did it harm Bitcoin? No. Just look at the exchange rate today. Difference with traditional (developed) markets is that they take years to recover from certain economical events that may lead to lower overall demand, where the crypto market moves over it in a matter of months, or even weeks.
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It would be hard for bitcoin to be used the same way as PayPal as there is no protection when making purchases.
Buyers protection serves just one party -> the seller in a way is always exposed to the risks of malicious entities charging back on them. Bitcoin solves that problem nicely. Everything you receive in Bitcoin as seller, is fully yours (assuming you don't make use of a third party service). But then again, the buyers will then complain about the lack of protection on their side with Bitcoin. I am quite sure that there are some solutions that you can implement to suit all parties involved, but you then have to accept that everything you do will happen mostly in a centralized environment. I rather just stick to being careful when it comes to where I spend my coins, which helps a lot. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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I got excited as I thought it said 'Switzerland Central Bank', but turns out, I need a coffee, lol. Either way, it's still somewhat bullish, but there isn't much interesting to get out of the fact that such an insignificant country within Africa is quite positive about crypto in general. There is definitely a decent bit of growth to gain in Africa for everything crypto related, but for that to happen we need a major economy there stepping up like Japan is doing in Asia. In order to make a noticeable impact, it's either that, or there need to be a large number of smaller countries starting to 'embrace' crypto currencies. At the end of the day, no matter how things get done, it's always the higher number (i.e population number) that makes the strongest impact.
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There are literally thousands of stores already accepting bitcoin as payment, there is no need for "expanding" it there.
Ok, so in your words, if there is a country having already like thousands of merchants accepting Bitcoin, that there is no need to spread Bitcoin's adoption further out to possibly an extra hundreds of thousands of more merchants? There is not much logic in your way of thinking. Going from one merchant to two merchants is expanding. Going from thousands of merchants to hundreds of thousands of merchants, is again expanding. You act like it's not worthwhile to allow Bitcoin to (yes, again) expand in a constantly evolving country in crypto terms.
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