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But is there any reason to think that the pattern will repeat itself again? It's just a belief, there's no fundamental reason behind this pattern, just because it happened twice it doesn't mean that it will happen again. On other markets, no one goes through the history of past cycles saying that the same price movements will happen again at a larger scale.
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Memes are essential for the future of Bitcoin. Good humor is something that attracts more public and users than long discussions. I do not believe that it is possible or necessary that we have a place with so many people and only serious discussions.
For very serious discussions there are other places much more suitable than Reddit.
/r/Bitcoin memes are garbage though, it's just the price circlerjerking with rollercoasters, lambo's and so on. Mainstream public doesn't care about that, not one bit. But I think the sub becomes cancerous during spikes of trading activity, because that's when the memes and dumb price posts start to pop up. In the meantime it has some interesting posts, but it's a bit harder to find something interesting than on this forum because you have to scroll through many posts. |
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Sure, it doesn't matter, but it's a bit sad to see shitcoins getting billions in marketcaps. This indicates that the market is highly irrational, people will throw their money at whatever is flashy and new and comes with a load of buzzwords. And irrational market can't be stable, sooner or later it will crash and burn when people will start realizing that they were getting scammed. This can negatively influence Bitcoin for some period of time.
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I think this article exaggerates the benefits of decentralized casinos and doesn't speak about their risks. It also doesn't cover centralized cryptocurrency casinos, which is strange.
So, the problem with decentralized casinos is that they run on smart contracts, and smart contracts tend to be buggy. It's a way bigger risk for players than the risk of getting scammed by a decent centralized casino. Also, the profit model of 0% house edge isn't going to work in the long run. And let's not forget that all these smart contract services require a good amount of scalability - otherwise users will have to pay a few dollars of network fees per bet.
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because it assumes that traders are illiterate and retarded.
Many of them are. I've seen coins with a similar ticker to another coin that received some major news pump as well until it tails off when enough people realise. And most of it these days is bot driven. If one moron starts a run the bots may well pile in. But that's shitcoins with tiny trading volumes, people who have confused bcash and Bitcoin are a small minority of Bitcoin traders, no way there's enough of them to justify going from $6,000 to $3,000 and staying here. I also don't buy the bot trading theory, because if it was true, then the market would be pumped and dumped on a daily basis, if bots can be so easily tricked. |
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after all that had happened, December was a decline in the price of BTC which was completely destroyed, and the sockets are now far beyond predictions,
some predictions say BTC will be bull early in December, but in the first week of December BTC has experienced a price decline beyond predictions,
Is the prediction that there will be a bull After Christmas will occur?
or will it fall further down?
No way, people just don't have patience, as this kind of predictions are usually coming from those who were burned on the previous bull run and now can't wait to at least see their investment break even. We still haven't seen the bottom, and after the bottom there's a period of stagnation which can be quite long. The bull run will start in the late 2019 at best, but it can easily be postponed till 2020. |
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I see it as a healthy movement despite the horrible sentiment amongst most of the people here. This market has been infested with get rich quick rookies and they did everything they could to turn this market into a shitshow.
This longer term bear market drives these rookies out, and while I feel somewhat sorry for people, because I don't want anyone to lose more than they can afford, but if utility wants to get the upper hand, this is the way to go.
What we will be left with are those who are here for the fundamentals, and not to fill their pockets and then exit. We'll see where it goes from here, but I'm not confident that we have seen the worst yet...
The new generation of "get rich quick" opporunists will emerge with a new bull cycle, it's inevitable. Combine Bitcoin's accessibility and huge popularity, and you get a highly emotional markets with "doom and gloom" like OP's post, or some crazy moon expectations with lambo's. I believe time will cure this behavior, eventually volatility will decline and Bitcoin will become boring - it will still move a lot, compared to stocks and other traditional markets, but less crazy than now, so it will be more usable as currency and store of value. |
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if you look at the chart, you can see the price rose up slow and steady from the low of 2014 to the previews ATH formed on Dec 2013 around ( 1170 $).
The patter of the new rally starting from the point of previous ATH is not going to last for long, because that would mean exponential growth over the years. This cycle can easily be the last of it's kind, and the swings of next cycles can become much lower. I just don't see Bitcoin going to six figures in the coming years - there's no fundamentals for that, people are not going to massively switch from banks to Bitcoin, a global economic crisis won't make people massively buy Bitcoin either. |
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I doubt that bcash markets have any serious influence over Bitcoin markets. The theory that people confuse both coins is just dumb, because it assumes that traders are illiterate and retarded. In fact, any drama in bcash world is bullish for Bitcoin, just like any other bad news for altcoins, especially those who claim to be "bitcoin killers". So, why would traders sell BTC because of bcash drama? The answer is, it's just a coincidence, and the price drop from $6,000 is a natural part of the bear market.
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I think the price margin, just increase with every crash. The crash percentages might be more or less the same, but there are a huge difference between a crash from $30 to $5, compared to a price crash from $19 000 to $4000. <money wise>  The recent price crash from the ATH of $19 000+ just got a lot more media attention, because the amounts <value> of the coins, was much higher than before. People are also confused with the Market cap statistics that are being misused on social media, to make things look worst than it is. Isn't it just a psychological effect? If you invest $1,000 at ATH, the amount of money you lose on a $30 to $5 crash is the same as on a $19,000 to $3,000 crash. As for the media attention, I think the bigger factor is that Bitcoin became much more popular over the years, in 2013 you'd read about it in some tech blogs and specialized sites, in the last year the rally was featured on national television around the world. |
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OP,I really doubt that people like Krugman or Roubini want to buy bitcoins or any other cryptocurrency.
They don't FUD bitcoin because of the frustration of missing out big profits.They FUD and hate bitcoin,because they are fanatic fiat money believers.
You're right, the only FUDsters who are doing it to buy low are some hired trolls, aside from that I seriously doubt there are any public figures or Internet personas with that motivation behind their actions. Like, take kwuckduck or other trolls of this forum - what is more likely - that they are just enjoying being trolls, or that they spend their time in order to influence the market? Also, if there's no proof that FUDsters are engaging in trading Bitcoin, then it's just a conspiracy theory. |
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Again coinidol with their shitty "news". So, they've interviewed some ICO girl and she says she beliefs that Wall Street is behind the price movements of Bitcoin. That's it, no evidence, no proofs, just an opinion. You can go to the Speculation section of this forum and read hundreds of opinions of the same quality.
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You can take it one step further and convert both one-time pad and the resulting ciphertext into the same mnemonic format as the original seed. This will allow users to enjoy the benefits of mnemonic format - ability to memorize it, being easy to write down on paper and easy to transfer from paper back to computer.
That's a cool idea, I hadn't thought of that. It's definitely possible! The only downside I can think of is that if you forget which is the key and which is the seed it might take a few attempts to figure it out. I suppose that's a reasonable trade off since you normally wouldn't have to restore from a backup very frequently. It actually wouldn't make any difference, since decryption is just addition modulo 2048 and both parts are of the same length, so ciphertext + key and key + ciphertext both yield the plaintext. Also, the cool side effect is that you can use both the key and the ciphertext as some sort of decoy wallets. Providing you have copies and backups, you can give them up to physical attackers to lose only a fraction of your coins. |
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You can take it one step further and convert both one-time pad and the resulting ciphertext into the same mnemonic format as the original seed. This will allow users to enjoy the benefits of mnemonic format - ability to memorize it, being easy to write down on paper and easy to transfer from paper back to computer.
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I think there's a pretty good chance to witness the prices below $3,000, because the bear market is not over yet, and it was always featuring some dramatic flash crashes, but this doesn't mean that $2,000-3,000 will become a new floor. Regardless, the current market is a great opportunity to buy for the next bull run, x10-x15 profits are awaiting those who will have strong hands to hodl for the rest of the bear market and sell near the top in next years.
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First, this isn't the right board for such questions, you should move it. To answer your question: recently coinmarketcap has moved from public API to semi-public, meaning that you have to get an API key first, which can be bought or you can get a free version with less functionality. Read the official documentation carefully: https://coinmarketcap.com/api/documentation/v1/#If it's all too hard for you, hire a programmer to write a script. |
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We've seen countless reports from all around the world about legislators making various proposals about legalization and regulation of cryptocurrencies, but so far there wasn't much voting - it seems like MP's are simply not interested in cryptocurrencies, and perhaps they don't want to spend their time researching them in order to make an educated decision.
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"Manipulation" can be such a broad term that we might be encountering it every day. For example, we have rumors from time to time, that seem to explain the price changes (remember "China bans Bitcoin" FUD?), so there's a good chance that they are the reason. But I don't believe that manipulation alone can explain the long term trends, or that manipulation is behind every rapid price change. The real reason why Bitcoin is so volatile is not manipulation, it's market is just very speculative despite being nearly 10 years old.
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I did ask them to increase the 10 minute confirmation window, but they say the volatility will eat into their profits, if the price goes down, like it is doing at the current moment.
This is silly, volatility doesn't mean "negative price fluctuations", there are just as many chances to get profit off it, if the price goes up while they wait for confirmations and in the long run it would all even out. They are just shooting themselves in the foot with this stupid policy, because they have to deal with refunds and just scare off customers. If they are so scared of volatility, they should accept Bitcoin as a deposit on their site and allow to spend it as soon as it gets 1 confirmation. |
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Stupid FUD. Security-wise, Bitcoin's network is stronger than before, hashrate today is bigger than were it was at the ATH, and bigger than when the price was at $3-4k last time. This "research" is based on a misconception that hash drops cause price drops, but that's wrong, the correlation between hashpower and price is not that strong, there's a big room for flexibility. There will be no death spiral. period.
You can clearly see that these professionals or experts on crypto does really know on what they are talking about. Correlating hashpower into its price? They are kidding.  We now hearing up an another word for today "Death spiral". I'll wait for another words came from to these dudes. This idea isn't new or original, the concept of hashpower-influenced death spiral was here for a while already, but the idea is just ridiculous, it assumes that the market consists wholly of cowards who will sell at the slightest hint of weakness. In reality, there are actually tons of people who see low prices as an opportunity to get huge profits, which is why we so often see very short-lived bottoms. |
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