I feel another dip below 1000 to get a bunch of n00bs to shit their pants is in order. But really it's just to continue pumping Altlandia. Oh, the dream over there is real! ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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The good news is, I think we've reached a new era of Bitcoin. Extreme volatility has diminished.
No Torque I don't agree: we were at $1300 and now we are at $1050. If this is not volatility what is it then? I would not call that over, yet 30% drop is a cake walk compared to the past. That whale controlled everything in the market between ~900 and that 1350 blip. And I didn't say volatility was over, just diminished. Go look at Altland right now if you want to see 'extreme' volatility as compared to Bitcoin. So I don't agree with you, sucka.
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Don't underestimate a deflationary asset in an inflationary world.
Oh believe me, I don't. That's what makes Bitcoin awesome. What I'm saying is that the predatory PnD'ing is moving on from this market over to Altland. And that's a good thing, because it means that more buyers of bitcoin moving forward will be true, enthusiastic users and hodlers, and the price will more accurately reflect true demand. And that will have a more positive feedback loop.
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So now we march onward and sideways into some future new fresh hell.
Probably won't see much action until the Fall. But I'm sure some new news-driven thing will come along, that the traders can latch onto in order to stir the pot again.
After years of watching this Bitcoin market, I can tell you that history almost never repeats itself, because the same FUD only seems to work once and then it's gone. Sure there might be more supposed "fork attacks" in the future, but I believe the users will become more resistant to that FUD as they have to "China bans bitcoin! For the 100th time!" FUD that we've seen in the past.
The good news is, I think we've reached a new era of Bitcoin. Extreme volatility has diminished. Long gone are the bug exploits, hacks, DDoS attacks, exchange owner disappearances, etc. that would allow big $$ pumpers to crash bitcoin back to the ground in an instant. With Bitcoin being rock solid, and traded on so many exchanges now, the FUDsters will have to change up their tactics. Which is why we've seen the recent 'social engineering' attack of late. It will lose its effectiveness over time, though.
What this could mean moving forward, then, is that Bitcoin becomes no longer interesting to the big $$ pumpers because they can't pump it to the moon anymore, and thusly, they can't easily crash it back down with a quick hack or major FUD and benefit from the 'big short'.
So I'm surmising that they want to move all of that crap-tacular activity over to Altland now. It looks to me like that is exactly what is happening. We'll see if my theory holds over the next few years.
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It's completely possible. Very few of them have been honest and forthcoming about their businesses (fake volume trading anyone?), so if any have been hacked in the past, I doubt that their owners would be forthcoming about being insolvent until it was finally proven... and too late. Ala Mt. Gox style with MK.
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What is xbc?
Well, okay. What is Bitcoin Plus? Aaaaand... What is Bitcoin Dark?
The BU mafia have told their alt pumpers that they're not allowed to like Bitcoin any more. So this is their little protest. I see... But then, if they decided to rebrand, that means they understood that BUcoin is already dead. This must be out of despair? Yeah, but have you guys seen Bitcoin Extra TM (XBC++) yet?? It's going to totally revolutionize the crypto industry. Get wit da times!
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I do not understand why XBC is climbing like a rocket... $130.00 now ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) I think I have missed something lol You didn't. Run. away. from. that. Very far away.
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Altland has become the new kickstarter for cryptocurrencies. Basically they're nothing more than tech start-ups that are using initial pumps as crowdfunding for their core developers' salaries. "Hey kids, come join us to overtake that ol' dinosaur called Bitcoin! We've got better tech and a better growth model! Trust us! The industry will be falling all over themselves to integrate our coin! Just look at how cool and slick our new logo and marketing is! We're the new new!" ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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It was called the crypto currency wars. ______ won
Well accord to Roger, it's now not Bitcoin. I'm not sure what he's smoking, but I wouldn't bet on that.
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no one is buying altcoins! ahahaha what a dumbass. The "free market" as a whole will never accept 'all' the cryptocurrencies out there that have splintered into several hardly distinguishable variants, or even the top 3-5. No fkn way, too much confusion, too much integration, too much hassle. Not worth it for industry merchants to do that and support integrating them all. If they are even going to do it at all, the world markets and merchants will only consolidate on the ONE cryptocurrency with the most end user popularity, the most industry backing, the largest ecosystem, the strongest brand TM recognition. Everything else will just be noise, and probably not even a close second. We've been through this same competitive shit before. It was called the enterprise search engine wars. Google won. It was called the smartphone marketcap wars. Android won. It was called the commercial desktop OS wars. Microsoft won. It was called the enterprise backend server wars. Fedora/RHEL linux won. It was called the social network wars. Facebook won. It was called the privatized corporate Intranet wars. The free Internet won.
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So, Torque, I cannot really discount anything that you are saying, except maybe to suggest that some of your discussion did not directly address the effects of the underlying s-curve new adoption type considerations.
My discussion didn't include anything about S-curve adoption, because I don't believe that we are anything near that type of adoption yet. It could literally be 20-30 years away still. Or never. I'm not convinced it'll ever happen. Because the cost-benefit vs. ease of use factor of Bitcoin has yet to even coming close to revealing itself to the Average Joe public. Right now it's just a really small, really niche, really geeky small cap investment vehicle. And regulations/hassles surrounding cryptocurrencies could actually get worse over time instead of better.
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I could see a lot of this playing out over a few weeks to even a few months, but 6-12 months seem to be a bit of a stretch, even though such a timeline is not beyond the realm of possibilities.
I thought that a Bitcoin downturn (aka after bubble pop) couldn't possibly go longer than 6-8 months. Until I experienced the slow, meandering, up and down, soul-crushing 18-month long Bitcoin bear market. The higher the pump goes (esp. with extended margin pump in a relatively small market), the longer the whale traders can draw it out and walk it down, with many highs and lows along the way. Please note that I don't think this applies to the Bitcoin market right now, as it didn't go that high, so there wasn't as much FOMO craziness like there was in 2013. So the bottom will be found alot sooner. Now the alt market on the other hand... phew. They are screwed. Also, I was considering the bottom to largely be in, but I could see the possibility of a further dip into the $800s..
What are you considering as this current upcoming consolidation range, from $800 to $1,100 or something more extreme?
I definitely wouldn't rule out consolidating as low as 800-ish. But who knows. The shorts usually can short it down pretty low if they have control and no one supplies the buying pressure. But miners will start to bleed money any lower than that. Anyways I think the whales (miners? traders?) play both sides, I mean hell, they are not going to completely kill the golden goose, are they?
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In any event, even if the manipulative dump is over, we could still get caught in some additional downwards and maybe even more likely a kind of consolidation period for several weeks, no?
Yes and yes. Pumpers ultimately just want to extract more fiat $$$ from easily swayed n00bs. So the excitement surrounding the ETF is gone, this bump is over and we will consolidate sideways-ish for a long while. The pumpers have plenty more $$$ to extract in the alt market for at least 6-8 months, maybe a year, as they slowly walk their bubble markets back down to where they were before. I feel bad for those beliebers that got caught up in it, they are living on hype & hopium that will slowly dwindle over time.
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Forget about BU, Bitcoin Classic is going to fork! ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) I'm with Bitcoin Classic, they have really nice conservative philosophy about the development of Bitcoin. No bullshit SegWit soft fork hacks. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fcdn.meme.am%2Finstances%2F500x%2F58593877.jpg&t=663&c=HygVvvjzTILQNA)
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Hilarious how so many shill accounts on r/bitcoin are switching their tune and now saying "run from BU" and "BU is finished now" and "SegWit signaling".
What a joke. This whole debacle was planned from the beginning! Don't people realize this yet? So many bitcoiners got played and panic-sold into alts over nothing.
Maybe next time they will learn from this?
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Yeah, thanks Adam, the article pretty much confirms what we already have with 1MB block limit today: "1 MB blocks currently has kept pace with network demand so far, despite undesirable delays in transaction processing times and expensive fees during congested time." - We have this with 1MB today "The most optimal block size to maximize miner's revenues is any size small enough to congest the network which is around 95% filled or more [which >80% *only* happens during frenzied trading periods, NOT real-world everyday buying transactions]. Getting congestion and an onset of "leap frogging" fees scenario between users would be the optimal miners game to play." - We have this with 1MB today "The transaction confirmation times start to suffer when blocks are above 80% filled [which only happens during frenzied trading periods, NOT real-world everyday buying transactions. Just go look at the mempool now]. At this level, fees are reasonable but not exorbitant, but not too cheap to substantially impact the security model of bitcoin as the block reward subsidy diminishes in future years." - We have this with 1MB today So what is your point again??
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Today there has been a slow in the BU blocks found... was trending up as late as this morning, but through the day it has been losing steam. ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) and we are seeing a stronger price simultaneously it would seem. BU is the future... get into it. It is a future. But we are not taking that fork ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) good luck competing with the free market.Maybe that is no longer Bitcoin's goal... or fate. Perhaps it was just a delusional dream cooked up by its supporters. If Bitcoin (or any cryptocurrency really) has to remain niche in order to NOT become PayPal 2.0 or another centralized bankcoin long term, then I think most of it's users will be OK with that. I will certainly be OK with that. If not, then they will prefer PayPal anyway, or JPMBankcoin whenever it inevitably launches. Just having Cryptocurrency TM stamped on the box doesn't mean shit, if it doesn't continue to adhere to core/founding principles long term.
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Hey, look Mods! People talking about altcoins here in this thread for pages and pages! But of course if *I* have something mentioned about an altcoin in one of my posts, it gets deletely instantly! Selective much? ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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