they would easily be able to do that,
it costs just 6 billion to destroy bitcoin with a 51% attack
this is something a commited developed country easily could affort,
however the developed countries promote and support cryptocurrency as cryptocurrencies are benefiting them more than the developing countries, so there is a division in the united nations consil, which prevents state sponsored 51% attacking as being legal.
however if there is an intelligent bussinesman who lends a ton of money to create this hashpower as some form of cyberweapon of a state, this could truly exist.
and what makes it worse this cyber weapon would then be able to eat more and more as each destroyed cryptocurrency would make the attacker even richer, which he can invest to have even more hashpower
regards
I think you and many here don't understand or maybe I do not understand. any coin you can bring down and depreciate when you have 51% or more of all coins. Accordingly, as I understand it, 6 billion is not such a large amount, which is not large and strong States. |
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Everything in our life, ever ends and eventually improved. You don't need to be a famous analyst to judge this truth. Turn around and see what surrounds you, and remember how it was before. This is an evolution, there will be no more Fiat money, perhaps no more bitcoins.
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It is very difficult to guess what will happen with bitcoin this year. Unless you're a shareholder in the Chicago Board of exchange, who knows how many bitcoin futures will be sold
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The problem is majority exchange uses BTC/altcoin trading pair while most cryptocurrency market price list uses fiat which means altcoin price always follow Bitcoin price.
That makes most altcoin price behave the same way, while the altcoin price in BTC don't change too much.
In this case, traders and exchanges should be blamed for supporting BTC/altcoin pairing rather than fiat/altcoin.
I fully agree with your point of view. Indeed, all exchanges are traded in a pair, BTC\altcoin for this reason, to withdraw money to Fiat from altcoins, they must transfer in bitcoin, and then bitcoin to Fiat + commissions everywhere. Conclusion, today altcoins are very dependent on bitcoin, because it is the most common among all cryptocoins, and it directly affects the price of all coins and their graphics |
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If you understand that Bitcoin is a long term investment, you wouldn't panic when the price falls within some short period of time. We will all laugh soon
This is the funny thing though. Most people who put money in the December rush likely wanted to earn easy bucks by riding the wave. Lots of them have probably already cut their losses and sold low (I'm assuming that panic selling was a huge factor in the massive slide). I can't imagine casual users being very enthusiastic about their investment dropping around 30% of what it once was lol. Still, you're not wrong. Those who are still HODLing on, you don't lose any money until you sell at a loss. No one really has any idea when Bitcoin will reach such heights again, but if Bitcoin's development proceeds as it should, I feel like it's an inevitability. Wait until you break even at least! You have very correctly explained the important point that many people wanted on the buzz about bitcoin, to make a lot of money. And as a result, they just sold their Bitcoins in January, February, so we see the price of bitcoin today down. Bitcoin will only grow when it is developed and there will be another wave of people wanting to invest in it. |
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this dip had nothing to do with Bithumb because that hack is already too old a story to want to be affecting anything anymore. it happened 3 days ago on June 20.
if you paid attention closely to how the market changed you could have seen that the drop is much bigger in the altcoins such as ETH and EOS. these coins have been getting dumped hard as people are leaving them. and when they do they usually are doing it on altcoin exchanges that don't have any fiat market. so they sell their altcoin to bitcoin then transfer bitcoin to another exchange like Coinbase for instance and sell bitcoin to get fiat. the result is that bitcoin falls because of the altcoin dumps.
which is why altcoin drops have been bigger than bitcoin's. because some people either sell for fiat directly or sell for bitcoin and hold bitcoin.
I support your point of view. I also think that now just a dump of these altcoins. And every day more and more new ICO and new coins appear. I want to believe that some of them will survive the competition and will exist in a year or two. |
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Guys I think that Dogecoin really is the new Bitcoin.
Think about it.
- meme proof
- high supply
- low fees
- capable devs
- stability, no political power struggle
- huge fanbase, reallife usecase
- community
- big wow, very profit, much coin -> solid branding
So Dogecoin will become the biggest crypto within a year or so.
Otherwise Loomdart will refund.
I totally disagree with you. Bitcoin is crypto gold will remain an asset for years to come. It will not be a means to pay every minute, it will be an asset to store and increase Fiat money. |
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Will bitcoin prices rise beyond 20k in the future, and whether bitcoin will only stabilize at a price of 8k - 10k and it will be difficult to exceed that price.
If you dream and fantasize, the price for bitcoin in the future may grow to 1 MILLION in the equivalent to USD. Why do I think the answer is simple, The us dollar will collapse one day and the whole economy of America will move to bitcoin. |
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The big thing is to not overinvest in bitcoin. Don't ever buy bitcoin with money that you're going to need in the foreseeable future--I've seen way too many people do this and they're usually the ones who then come here with sob stories, saying they want to kill themselves. It's a bunch of avoidable nonsense.
Other than that, have some patience. Stop checking your investment every 10 minutes.
Here is with this opinion I agree on 100%. It is not necessary to invest all the money in the cryptocurrency. The currency market is very unpredictable, so even experienced traders will not be able to tell you exactly when to buy or sell. We always take risks and take responsibility for our actions. You need to analyze a lot and then maybe you will have a pattern. And always follow the news, but can be a catalyst for price growth. |
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A small japanese village named, Nishiawakura is making their economy much more beneficial with the help of cryptocurrencies by launching a Initial Coin Offering. I think it is a best way to help some small villages to grow up with really good profits and also it might bring the cryptocurrencies some more close to legalisation. The village is home of approximately 1500 villagers and and they unveiled their plans to launch a regional initial coin offering. Report by coindesk https://www.coindesk.com/japanese-village-to-launch-nations-first-municipal-ico/This is a perfect head start and i hope that several such villages can soon adapt this strategy to strengthen their economy Japan in 2017 showed the very first, to all people on the Globe, that the cryptocurrency will live, and many other countries followed. Therefore, today Japan demonstrates to everyone how to form the crypto economy in a small entity, such as a small village. |
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There has to be some kind of a worldwide cryptocurrency organisation,which approves or denies new altcoins.
All the crypto trading platforms will have to abide by the rules of this organisation and clear the crypto marketplace from the shitty pump&dump coins.
There`s nothing wrong with having a tough competition,a competitive market is a must and only the strongest and most trustworthy coins will survive.
Over time, there will be a regulatory body that regulates and controls the issuance and turnover of Cryptocurrencies. At the moment, this should be done by currency exchanges, which monitor the issuance and listing on the exchange of a new coin. |
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At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
Personally, I do not see how Fiat money will work in parallel with bitcoin and alternative cryptocurrencies. The economic side of cryptocurrencies, in a couple of years will show the world its effectiveness. |
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I wrote a big post once about the Bubble and the Ponzi scheme. Happen again. The us dollar has not been backed up by gold or other precious reserves for a long time. Almost all Fiat money has no real value in the equivalent of jewelry. Bitcoin also does not have, but this does not mean that they will not create a law that equates the price of 1 coin to a gram of gold, or a diamond, or a barl of oil. This is the economy of the countries in the future. This is the right vector of development.
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It is highly unlikely that every owner of Bitcoins will all loose access to them, and thats 21,000,000 bitcoins which wont be fully mined for about another 100 years and it is true that the lower the circulating supply the higher the value, provided people want to buy it. The critical amount of Bitcoins lost is hard to compute before it gives diminishing returns but its all subjective and hypothetical at this stage really. In November 2017 this report came out that just under 4,000,000 coins have been lost forever but the rate of loss will slow down. http://fortune.com/2017/11/25/lost-bitcoins/Very informative article that you have thrown off. I imagine and could not, so many coins are in a derelict condition. I couldn't even imagine the big money. I calculated the exchange rate today bitcoin and get the amount of 30 trillion dollars. That's a huge amount. !!!!!!!!!!!!!!!!!!! |
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It seems to me that the blockchain can exist without bitcoin. This is proved by many companies that declare their ICO every day. I can say with confidence that the blockchain will show its ability in time.
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My advice to you, go to the Ethereum Delta website and buy coins of those companies that have already collected the hardcap. There bounty hunters sell their coins at very ridiculous prices, sometimes even lower than the ICO sold. A particular coin would not recommend, you should read carefully the forum and find out what the coins price advantageously.
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Bitcoin is already a global currency that does not belong to a particular country. There are many rumors that the Americans came up with bitcoin, others say that Japan invented it to break the American economy. The truth is not accurate. But one thing I can say bitcoin will live, because it is anonymous and has great prospects.
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You have touched upon a good topic. My opinion about the payment of old users, due to new inflows. Now let me tell you a secret. There is a law of conservation of energy (money). If they decrease by the same amount, which means it will arrive at the same amount. If we talk about the currency market, in this case about the crypto currency and bitcoin, those who transferred their money to Fiat in time earn. And those who bought at the peak at a high price lose. Therefore, investment is a game in which some lose and others win.
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Embattled Venezuelan president Nicolás Maduro, ahead of a contentious May 20 national election, has launched a ‘youth bank,’ funded by the state-backed cryptocurrency Petro. Aimed at appealing to its younger population, 20 million petros are to be allocated.
Petro is a closely watched experiment for countries feeling the sting of sanctions meted out by the likes of industrial powers such as the United States, sanctions the once-oil rich government routinely points to for its current economic ills. Mr. Maduro seems to have worked closely with Russian operatives to bring about a first: a state backed, oil backed cryptocurrency. The country’s current economy is in shambles, and daily horrors abound, flooding headlines.
Mr. Maduro noted over $1 billion in petro will be used to prop up the new bank, a bank which will function in ways that are unclear as of this writing. And though petro is itself a divisive issue among branches of the government, such as the legislature, Mr. Maduro has quipped he’s looking into yet another state crypto launch, this time backed by gold. For its part, the Trump administration has openly ordered United States citizens and businesses to not participate in any aspect of petro.
That's great news. If they are really able to implement the plans, it will greatly raise the economy of Venezuela. And of course, the demand for this coin will grow, which will be equated to an oil asset. In this situation, America will not be able to influence, because it has no influence on this country. Sanctions will or not we will see, but for now I am glad that the government of rich countries are doing the right thing. |
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I compare bitcoin as an asset of gold. Bitcoin is gold, which should be stored on the wallet in the Hold. For example, in a special computer protected on a server in a Swiss Bank. Which has several degrees of protection. And I would compare Ethereum to silver as a precious metal. Imagine that 1 gram of metal is equal to 1 coin. That would be cool.
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