I think the bull run has begun. This time the price of bitcoin will grow along with altcoins in a mutual manner, which haven't happened in the past days. When the price increase gets ignited automatically we'll experience $2000 mark within few weeks time.
Just like you, I choose to remain positive about Bitcoin because I have been exposed to its history and behavior. In fact, we should be happy that the dip is not that enormous if we have to count it percentage-wise. I am so sure that Bitcoin would be coming back soon and we can experience another bull run maybe within the first quarter. Bitcoin is just gathering some needed energy before making another surge. This has been the way it is and we just have to wait and remain optimistic...as always! |
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The latest debacles coming from South Korea reminded s of what happened with China last year which ended with the government's policy to ban all official cryptocurrency trading and just recently the pressure to Bitcoin miners to scale down their operations which is subtlety telling the message for them to get out of the country as soon as they can.
The market reacted to the news that South Korea is preparing to ban cryptocurrency trading and although it was not really the official position of the whole government this is just another reminder of how the power of the state can be use to suppress cryptocurrency movement. Hopefully, South Korea will not be following the mistake made by China.
When cryptocurrency is pitted against the government, people can easily be afraid and lose faith on the cryptos they are holding. Sadly, this is all part of human nature and part of the market dynamism we are into.
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These artificially created fake news to drive BTC price down haven't got as much impact as it used to be. I'm not saying there won't be any fluctuations but not as bad hopefully. I regret those days when I sold my bitcoins by being week-handed instead of hodl. I'm sorry for newbies entering this game and get ripped off like this. It's a painful experience to learn this way. Steady hands, patients and reading news can save a lots of money to us all.
It still affected somehow because there are still so many newcomers that can easily be swayed by false news but overall we can certainly say that the market is already maturing compared to the kind of reactions last when we were dealing with China. South Korea is a different county and I am sure that their officials are always listening to the people and in the end will never do the mistake of banning cryptocurrency but of course regulation has already started and that can be a good direction to take. South Korea is now one of the biggest markets for the cryptocurrency industry and developments in this market can push up or pull down the global market for sure. As a very dynamic market, we are expecting that more and more news here can influence the overall direction of the whole cryptocurrency movement. Whatever development here, still we have to thank South Koreans for carrying on after the ban in mainland China. |
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I believe in the noble cause of this project and it is very timely. I am now supporting IUNGO.NETWORK by participating in many ways including the Telegram group chat. I am looking forward for more rewarding relationship with this great project. The whole world needs this one. We need more connectivity to promote more business and entrepreneurship all over the world. Telegram Account: @TomPlus Facebook: https://www.facebook.com/cryptoworld123Twitter: https://twitter.com/FreeOptionsLinkedIn: https://www.linkedin.com/in/tom-sedaya-98758320/Thanks a lot. I am looking forward for a fruitful connection with #IUNGONetwork !! |
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First things first. This is topic is not to create a FUD rather a true talk to what is happening right now.
Can bitcoin get a hold to its investors to stay on him and keep believing on the power of the king? For me, I can feel that investors are now turning their back against bitcoin because of this main reason. Tx Fees are very high and slow. It is not practical to be used on daily transactions which I think the first purpose why bitcoin was created.
I understand what you are trying to convey. There is no doubt that Bitcoin right now is not what we want it ti be and frankly it has become a big disappointment. However, we have to remember that Bitcoin is essentially a decentralized kind of thing with nobody can be claiming to be its supreme head unlike other cryptocurrencies like Ethereum which has a figure head. I still believe that this is just a temporary obstacle that Bitcoin will eventually hurdle successfully but it will really take some time and maybe even some disunity within the Bitcoin community. Had I wish that Bitcoin has a leader which has an authority to speak and decide for the whole network and project. |
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Pretty much everyone knows by now that ripple is going to be supported by banks and major financial institutions, so this news is not news to me. And developments like this will surely drive ripple's price up in the short run, but giving control of a coin to centralized financial institutions is dangerous and makes the coin very susceptible to manipulation.
That is the common fear which many in cryptocurrency industry have been voicing out against the rise of Ripple. In my personal view, though we should not be limiting our choices, I find Ripple a little bit backward in terms of where we are going which is decentralization. However, I understand that decentralization can never be perfect especially with its implementation and that can be the reason why we have the rise of Ripple. I am so sure if this is a positive development for cryptocurrency or something not good in the long run. Anyway if Bitcoin is really functioning the way it should be then we might not see Ripple taking the limelight. |
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I am hoping that this can create some like an avalanche of support for Bitcoin in the fastfood industry. Once KFC competitors can see the press coverage that KFC is getting for this move there is a big possibility others can follow the same. We know how powerful even the use of the word Bitcoin or its symbol can be. In fact, we need more of something like this not just because of the publicity generated but making Bitcoin get more into the mainstream of the population. There is a big question on Bitcoin whether it can also be a currency while being a store of value at the same time -- and so we hope that slowly people will realize that Bitcoin can also be both. |
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I am tired of reading so many posts in this forum telling us that the bubble is here or that it can happen tomorrow so we have to get prepared maybe suggesting that we dispose all of our Bitcoin holdings at a lower rate than we wanted to have. Meaning that we stop holding on and start selling. The thing is that Bitcoin will always go up and can also go down. When Bitcoin is getting high a lot of people are afraid that it gonna crash soon and when Bitcoin stabilized at the $14-15K level many people are complaining that it stop surging. And now Bitcoin is getting dizzy. The best thing to do is to hope for the surge but always prepared for the dip.
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I really love to see those bullish investors market analyst and predict the potential price of bitcoin. Of course we are always in times of uncertainty, that's how the market was build around, on pure speculation. However, I don't know if the we can still capture the gold investors market. What we need is new set of investors not just from gold but as well from stocks investors who are willing to shift and pour cash to push the price of bitcoin to levels we have seen around early December 2017. Its been a bumpy road ever since, though it jump to $17,000 earlier last week and I though that its gonna enter another price rally, it didn't happen as corrections and bearish sentiment started to conquer us again. But I believed that $20,000 is achievable, it may be a slow process to get to it, but it can be done this year.
I agree. Bitcoin has been there on that territory and it will love to be once again back but as to when it can happen that is something hard to project as the overall sentiment is really bearish. We need more excitement in the Bitcoin front line something which is lacking for now. In my estimate we are still having some holiday hang-over and once we can get back into the real action in February then there is a big possibility that Bitcoin will once again be surging. Bitcoin remains to be the leader in the world of cryptocurrency. |
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Such a foolish question or a suggested scenario! I am sure that OP is quite new to cryptocurrency or Bitcoin as he does not understand how and why this whole thing is working. No offense meant but I think there is a need to do some more research on the thing you are getting into. Bitcoin has had been to many ups and downs, it has been declared dead for so many times and now it has been imagined to be busted in here. Again, my apology but it's good to know the viewpoint of newcomers also.
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This can be a very good idea for people who are holding most of their cryptocurrency in just one coin. There is always a need to diversify one's holding and it can add more excitement to be exposed to not just one or two but maybe 5 or more type of coins or tokens in the market. In fact, we are now moving beyond cryptocurrencies as there are now many good projects issuing their own utility tokens. The market is now expanding and moving into many directions which is opening new doors of opportunities to different players coming from many parts of the globe. We are in for a big revolution and 2018 is definitely a year for its expansion.
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Thank you for making the distinction between what classifies as a security and what doesn't. There's a lot of confusion surrounding this topic and I'm glad that OPEN is able to elucidate it for us. Distinguishing between what constitute as security and legally compliant token utility can be so important especially for a project which is based in USA where the SEC is now actively evaluating and looking for possible violators. E have to remember that the SEC in this side of the world can be so powerful as they can just close any program anytime by just merely calling the project proponents and order for any entity to refund the participants of their money. This is one reason why we should be glad that OpenMoney is really taking the time and do all they can so that they can't be categorized as issuing security but tokens according to the two tests talked about in that medium article. Since ICO is still a new type of a platform there will always be confusion as to many definitions related to legalities and I am hoping that soon a clearly defined regulatory framework can be established to deal with this issue once and for all. |
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Just that... do you think there is any re-distribution effect at all due to bitcoin?
Both can happen in Bitcoin. Bitcoin is an open opportunity meaning anyone can get in anytime whether you have a small or big capital. With small capital we have the chance to make it grow while if you have a big capital then you can earn more at the shortest time possible compared to depositing your money in banks. Of course,there are risks involved and we don't have to go to anything with blindfolded eyes. I don't understand the idea of redistributing wealth that is not the best way to do it..we should be promoting wealth creation by means of merits and not mediocrity by dole-out mentality. |
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China’s central bank told a top-level government internet finance group that the monetary authority can tell local governments to regulate the power usage of bitcoin miners to gradually reduce the scale of their production, a source said. Rather good news. "Gradually" is the key word, they don't intend to force miners to shut down immediately, just to cap their power usage over time. That would be a shift in mining power, China will be gradually losing its % of hashpower, which is probably a good thing. I completely don't understand the decision of Chinese government, by having majority of BTC hashpower on their territory - they have some sort of control over BTC (they could take over and attack BTC if it ever become a threat to them). Are they really that concerned that power consumption can get out of hand and cause shortage? I am sure that China has a different thing in mind when it decided to also limit and soon kick out Bitcoin mining from its official jurisdiction. Anyway, this is a big good news to all of us in the Bitcoin community. China will not anymore have that power to control Bitcoin and we will not be under its threats and FUD. This can also lead to the "deconcentration" of the mining power away from China which can be good in the long term. It is about time that the whole cryptocurrency market will forget about China though am sure that many of their citizens are still into this market. We can all survive and prosper without the big China market. |
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The Bitcoin buying frenzy most closely resembles the speculative purchase of Google shares than the tulip craze. Comparing Bitcoin with tulips reveals that tulips fulfill only the store of value function. Tulips are commodities, like stocks and shares, rather than currencies like the US dollar. Tulips (and shares) have not commonly been used to price and transact deals for other commodities or to settle debts. Nor have they been used primarily as a means of moving wealth from one location or person to another. However, both tulips and shares have been purchased in the anticipation that they will either hold or increase their value to a greater extent than the purchaser can expect from holding the sum used for their purchase in a currency (or the alternatives that can be purchased with it).However, comparing Bitcoin with tulips reveals that tulips fulfill only the store of value function. Please read more of this very good article here. I am sure all of us here have heard or became familiar with the tulip craze or mania that happened centuries ago as Bitcoin has always been compared into it. There are some similarities, of course, as volatility due to heavy speculations run through the two stories. The article above though is presenting a little bit different view on this subject. I am asking that we read more of this so we can understand Bitcoin more and its very fundamental nature. |
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