The only people believing in BU are those connected to the BU gang, and people that are getting paid by them to troll the community. No one in his right mind aside from the mentioned types will ever support an amateurish proposal that is only meant to take over Bitcoin as we know it.

What gives you that impression? The price that has gone up yesterday and today? If so, then that's all due to the uncertainties around Bitfinex as people can't get fiat out anymore, and thus people buy Bitcoin to get their funds out of that exchange as soon as possible. If you look at how pumped altcoins still are, then it clearly shows that the money has not returned back to Bitcoin, and probably won't until Bitcoin finally operates larger blocks. People keep using altcoins as a hedge, which at this point is starting to turn into a hype. Near dead coins suddenly come back to life with massive amounts of volumes and 100-1000% increases in a matter of days.

Panic is going through traders at Bitfinex as they are converting their fiat to BTC to withdraw them, which directly explains the price that has gone up there. In that regard, I wouldn't be surprised to see this result in the price to reach $1300, but it won't have much value since it's not happening naturally. It's pure fear that drives the price at Bitfinex - fear that Bitfinex is turning into another MtGox as the similarities are definitely there.

Basically that. I wouldn't even be surprised to see that if people start selling their fiat for Bitcoin on a massive scale (regardless of the premium), and cash out their coins afterwards (which on a smaller scale is the case already), that Bitfinex might even halt Bitcoin withdrawals as well. I can't understand people that are still using that exchange after the "hack" that took place. Smart people convert all their fiat to Bitcoin and cash out everything, where those that play happy user will most likely pay a hefty price (once again) for their ignorance.

I am aware of that, but I just don't trust them as they haven't exactly proven to be reliable when it comes to standing firm behind everything they say and do. Do you consider it to be coincidence that they first have been hammering down on Segwit, which resulted in them suffering from a DDOS attack, where not long after that they miraculously changed from opinion, and see now that Segwit is somewhat of a decent option (at least better than what's available).


In other words, the 95% support percentage is basically not really that important to focus on. Problem with F2Pool is (as I mentioned in a response to Iranus as well) is that that they change from stance quite regularly, and thus make themselves not look like a reliable party in the way that their words and actions have no real value until after a longer time proves that they stand firm behind it.

Then you don't know what's going on right now. [1]

People that have no clue think everything is all right, that everything regarding the potential hard fork plays no important role, but the opposite is true. I even find it a bit worrying that you as legendary member think like that as well (i.e. don't see the potential danger). Don't let yourself be fooled just because the price remains relatively strong.

$1400 is a joke, seriously. If we didn't had the scaling obstacle to worry about, we would be sitting at levels far higher than that already. Money is already here, it's just waiting for this whole dark shadow that's covering the market to clear. I already stated that in my previous post, but you completely ignored that. [1]

[1]

Segwit has been infront of BU several times already, and each time BU gains back its leading position. In that regard, the lead of Segwit holds no value at all. Especially when you consider that Segwit requires 95% support. Reason for F2Pool to start signalling support might because they were suffering from a DDOS attack after an anti Segwit tweet from them. Either way, the situation remains the same - Segwit can't come even close to the 95% mark.

Earlier this month I have made a prediction of Litecoin going through the $15-$20 levels in the coming months, and I still stand by that. In that regard, I share some of iamnotback's optimistic stance regarding Litecoin. However, I am also aware of the fact that Litecoin is a coin that adds absolutely nothing to the real world beside it functioning as a speculative investment opportunity. So yes, once the hype is over, Litecoin will tank and go back to far lower levels, where it will remain stagnant for a long period of time (typical Litecoin behaviour). The hype around Litecoin will last until Segwit activation has been cancelled (due to pools dropping support), or Segwit being activated (which results in the hype to fade away when people realize that Litecoin is still the same obsolete coin).

Good for you that you managed to buy yourself some coins below the $900 level, but there isn't anything at this point that will push the price towards the $1400 level any time soon. Market movers and other large traders hold a defensive stance until we have finally overcome this destructive scaling nonsense. It has taken long enough now, SegWit should get activated by force, and not by reaching an impossible support level of 95%.

KYC won't kill the "anonymity" aspect of Bitcoin at all. People greatly over-exaggerate the anonymity aspect of Bitcoin. If you make use of an online wallet service, an exchange, or any other Bitcoin related services, with or without KYC, there is no anonymity involved, and thus you can't lose it. If you want to enjoy some level of anonymity, then after cashing out your coins from whatever service, you have to run them through a mixer. Because if you don't, the services you have used can follow everything you do, and potentially even play that to the government if they end up getting forced to do so.

In current situation, the price is not undervalued. If we had no potential hard fork to worry about, and we were sitting at the same price levels as today, then you could have somewhat of a point, but not in this case. Bitcoin not being able to scale, forms a massive obstacle that prevents Bitcoin from growing further. It's clear that the demand for block space greatly outweighs that what Bitcoin can offer, and thus badly needs an update. As long as that isn't the case, we'll remain in a cycle of ups and down where we won't be moving much further away from current levels. That being said, if you just ignore the peak that was the result of the speculation around the ETF hype, we're not far away from the effective (more realistic) all time high. In that regard, the market can't be considered undervalued at all.

Chinese exchanges are no longer important for Bitcoin as they used to be before the PBOC forced through all kinds of regulations. Right now we are seeing the real face of the top exchanges there, and what becomes awfully clear, is that we all have been trolled big time - it was one big hoax. Their fake volumes were obvious, but the point that it was this bad, is even for me a big surprise. Volumes went straight from a few million traded coins per day, to just a few thousand per day. Result of these regulations aside from the poor volumes, is that people there have been shifting their focus away from the exchanges. People are now looking for alternative ways of obtaining Bitcoin, and one industry that has seen a massive growth directly after these measures, is the peer to peer industry. In that regard, I would put more focus on the growth of the peer to peer market rather than the exchanges there with all their ridiculous regulations.

Correct. I always log my profits in an excel sheet to see at the end of the year what has been giving me the better returns (holding vs trading). Good example is the period from January 1st 2014 to January 1st 2015. The price experienced a massive decline that most of the people here wouldn't think was possible. I didn't lose anything since I am just holding my coins, but on paper the 'loss' was a significant one. And that while within that same time frame, trading resulted in me making nearly 120% in profits. That's why a combination of long term holding and trading is the best possible combination. At least, for me it is.

I have noticed that you are quite a supporter of banks accepting Bitcoin. Nothing wrong with that of course, but some times I have the feeling that you lose sight of reality in some of your opinions. I personally am having the complete opposite stance in this subject, so I fail to see the 'obvious' benefits of banks accepting Bitcoin. Aside from saving on fees, what are the other benefits according to you?

If you already know that you can lose, then what's the point of getting angry? Getting angry means that you can't deal with your losses. Solid traders have one target, and manages to mostly reach that target - making more winning than losing trades. If you make enough winning trades, you'll be able to catch up a losing trade without any problems.

I have noticed that a lot of the people here, mostly the ones with the lowest form of understanding of how trading works, think that trading is some sort of a joke that involves no risk. It's mind boggling to see how dumb certain people can be. If you don't know what trading is, how much experience is required to understand the complexity of analyzing the market, you are simply a yolo trader aka gamber. People aren't able to calculate the risks they expose themselves to. Only thing this will have as result is loss on top of loss, and that on top of even more losses.

In order to get rid of all this nonsense talk about shitcoin BU, pools must reach consensus and activate Segwit (which isn't likely at this point). In that regard, BU will keep covering the entire community, market, etc, with a thin layer of nasty dust, for many more months. Perhaps even till next year, or the year after that, because literally nothing indicates that Segwit in current form will reach 95%, ever. And yes, if we had larger blocks already, we would be sitting at levels far higher than the current ones. But the reality is that we don't have these larger blocks, and thus we keep sitting in this annoying situation.

TraderTimm is direct in what he is saying, so yes, it may sound bitter to you, but he hit the nail exactly there where it should be hit. Bitfinex is an exchange that can't be trusted, and they won't hesitate to go through this whole situation once again at some point. You know why? Because people like you are so easily tricked into believing something. It's great that you got back what you lost in fiat value (especially when you compare it to how things went for you regarding MtGox), but don't be blinded because of how they "solved" everything. It was a well set up plan, and you guys fall for it. Result; Traders are happy that they got 'compensated', and Bitfinex gang happy because they earned themselves an easy $30,000,000. Now it's waiting for round 2...

Assuming Segwit by that time is activated - If the price isn't sitting at least in the $1800-$2200 range, I will be greatly disappointed. In case Segwit still isn't activated, and thus we remain in the same situation as is the case right now, then the range will be more like $700-$1300. I wouldn't even be surprised if we dive under the $700 level in that regard, because the longer it takes before Bitcoin is finally operating larger blocks, the stronger people's fear and uncertainties will become.

People shouldn't bite themselves stuck on the 21 million unit factor, because in reality it doesn't hold much value. I even remember some people saying that 21 million isn't enough and thus Bitcoin's 21 million coin cap must at least be doubled, lol.

1BTC = 1,000 mBTC
1BTC = 1,000,000 Bits
1BTC = 100,000,000 Satoshi

It's just a matter of setting your wallet to the unit nomination that you feel comfortable with. In that regard, the scarcity aspect is greatly over-exaggerated.

It dropped slightly, but not enough to make current price a good buying moment. Especially if you take into consideration that we are far away from seeing Bitcoin finally scale. In that regard, expect the price to drop more than has been the case already. Only good thing about this situation is that the market is going through some decent ups and downs from time to time. It's indeed a perfect time for traders, but not so much for the average Bitcoiner. Trading the volatility doesn't only require a good level of market understanding, but also steel balls, because in times of volatility, you can't always rely fully on your experience.

As long as we are sitting in the exact same situation, which is scaling related, we won't see the market bahave any different. It's more that people don't know what to do anymore. One day the uncertainties regarding the potential hard fork seems to not play a role anymore for people, and the other day it hits the market with a massive bang, where it results in the dumps that we have seen yesterday. Also, the price may seem stable to you, but it isn't and won't be. I think we'll re-visit lower $1000's within a week or two again, and then bounce up from there. It's a cycle.