Currently the buying and selling pressure of most altcoins and their market dominance depends on the market leader Bitcoin. If a wallstreet whale one day decides to dump majority of their Bitcoin holdings then you can expect a price drop. Looking at the weak hands tend to assume that the crypto market has lost a significant amount of market capital so they tend to short their altcoins as well. But today as you can see the markets have already corrected and rebound by a certain percentage which shows that all of these are temporary. Suddenly if some large whale adds a large buy wall then the price will increase and people will convert a certain percentage of it into altcoins.
Also, it could be very much possible that sometime in the future an altcoin could closely compete with Bitcoin and unless Bitcoin has its competing feature that could add value to it, it may struggle to compete. It's all a matter of time.
With this kind of market, it's evident that the altcoins are related to bitcoin very deeply. The price is affected whenever there is a movement although I'm not sure whether the prices are inversely related. With this being said, altcoins will be very much affected if it were to crash. Altcoins are not yet dependent on its own despite having features different from bitcoin. With regards to adoption, there's no coin yet that is at par with bitcoin. |
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Bitcointalk username: orions.belt19
Rank: full member
Current post count (including this one): 511
BTC Address: 3Bf62ofFiXGh5Z1BkPiEzFcZ8D7XELNU6L
Wear appropriate signature: yes
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Several transactions of mine have gone with 0 confirmations in the past several days. And some of those I was paying 1.5X or 2X the recommended fees. Nothing. Nada. Zilch.
Bitcoin has gone from being an expensive network to use to a practically unusable network. I was defending Bitcoin against millions of tards back in 2011 and 2012. Are they going to have the last laugh on me now? It pisses me off to actually see some of you defending this too and saying "this is the way Bitcoin is supposed to work". Umm... NO IT IS NOT .
I have ZERO confidence left in Core and their "developers". Their network can't handle the slightest bit of volume without totally seizing up. And then Adam Back is out there with the press talking about Bitcoin vendors and merchants running a tab system?? Really?? You can't do your job properly so you want people to run a tab in BTC?? You saw this coming from 10 miles away and did nothing about it. Stupid or malicious?... you decide.
I will be converting my remaining BTC to BCH, Dash, XMR and coins that actually work! And coins that have teams that have at least a Grade 7 level understanding of economics, ie.. "when you are at capacity, you open more locations". And not throw out "but but centralization!!" juvenile red herrings!
Long time Bitcoiner of 6 years here saying, "SEE YA LATER! CASHING OUT NOW!"
I think the developers wanted to happen is to make the holders hold their bitcoins so that the growth of the rate of Bitcoin wont drop deep. For me the reason why Bitcoin has a very high fees is to keep the growth of the bitcoin. They also need inputs i dare say. Another factor that contributed to the high transaction fees would be the massive adoption of bitcoin. The greediness of miners played a part on this. The forks should be there to help and improve bitcoin however it poses more problems than it actually helps. The high transaction fees are really a problem for the users and unless something is done to resolve them, then the crypto users may resolve to invest on other altcoins which offer better features. |
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With a real casino, the ambiance is different. You can really feel the enjoyment of playing the games, whereas online you don't notice that time flies by and that you've already spent so much. It may also depend on your luck and where you fell comfortable. Some find their luck more on the actual casinos while others feel that they have more chances online.
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It depends on your preference. But as for me, I earn and then I spend some while I save some. Saving would be one rational thing to do because bitcoin price appreciates. But I also spend some because there are time that I ask myself, "What am I working for if I just keep it?" Personally if I don't spend, I would feel that I am toiling and laboring, tiring myself for nothing.
It feels good to reward yourself every once in awhile and there's no harm in spending some of your earnings. Saving is important and essential but we all have the freedom and liberty to spend our own savings whichever way we like. I guess it would also depend on our priorities. If one would have to save up for future purposes or to pay off some debts or necessary expense, then you would have to avoid and steer away from spending first. |
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Seeing the hassle that OP would have to go through, it made me understand his decision. So long as he profited and he's happy with it, then there's no loss in that. As he have said, it was as if he won the lottery. I'm glad my country doesn't make it hard for me just like how it is in Scandinavia. Also, since no one can really tell whether bitcoin will go up or down, might as well reap your rewards and to enjoy it while you can.
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Most people here and reddit will defend bitcoin no matter what instead of looking at the problems. Every time someone comments something about the speed or transaction fees they will just yell ''FUD'' or ''Another attack on bitcoin'' but it's not always that. I have been a strong supporter of bitcoin myself but we have to face it, it's not in a good position right now, sure the price is great but what else? Insane fees that are not getting solved any time soon? I know the demand is high but the ones that are buying are just buying to sell eventually not to support bitcoin, not to use it. The demand will eventually fade away and what do we have left? An outdated bitcoin that won't be able to compete with better coins.
While arguing the fact that Bitcoin fees is rising, have people looked the other aspect? The second best cryptocurrency (can by argued) is Ethereum and transaction fees of ETH lies between $1-8.5 depending upon GAS limit just at this level of adoption. Think if it reaches at the level of BTC adoption, what would be the fees! Same is the case with other coins, their fees depend upon their spread. The fees of Bitcoin is high because it is most spread cryptocurrency and huge number of transactions are made daily. I doubt if any other coin used at such spread can deliver transaction at relatively lower fees. More or less every coin is Scalability prone. Same assumptions on here which we do argue about the fees without even thinking that if alts would go on the current position of bitcoin regarding on adoption level would completely experience such problems too but yet its not still sure if they would but chances would really be big. Adoption is one of the reasons why these fees rose up high together with the greediness of those miners which isn't really surprising at all. People would always be biased on the things on where they do benefited the most. As much as the transaction fees are a pain for bitcoin users, the lack of adoption is also a problem with the use of alts. I think that demand won't eventually fade away. Perhaps the hype for it will, but while people are still getting profit from bitcoin there will always be demand. This demand may also bring the miners and developers to find solutions to these transaction fees. They would have to conform to the users eventually and they already profited more than enough. Otherwise, the bitcoin users would have an outrage. Maybe this can't go on for long. |
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Username: orions.belt19 Rank: full member Post count: 504 Profile link: https://bitcointalk.org/index.php?action=profileBTC Address: 3Bf62ofFiXGh5Z1BkPiEzFcZ8D7XELNU6L NEM nano wallet address: NBQBGQ-M24Y6V-VMGQMD-D447BC-NLGCBM-3BR23Y-AJM4 Will change signature once accepted |
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Username: orions.belt19
Full Member
Total Postings Count now: 503
BTC Address: 3Bf62ofFiXGh5Z1BkPiEzFcZ8D7XELNU6L
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South Korea is preparing to tax bitcoin use after the cryptocurrency’s trading volume skyrocketed past that of Kosdaq. Death and taxes ... it seems that even bitcoins can't escape that  That's suck. I hope that they plan to pay us some money to recover the losses from trading/ investing too. I heard that Korea will ban all cryptocurrency? right? It is better for them to tax crypto rather than banning it at least you still earn profit from it rather than earning nothing. We must be positive always, of course if your people are earning you as a citizen is oblige to pay right taxes as well. Regulation is better than a ban. The korean government must have wanted to impose taxes in order to generate revenue and at the same time, control the huge volume of bitcoin transactions in their country. It's probably to avoid money laundering or illegal activities through the use of bitcoin. The government always puts the interest of its citizens first and cater to their needs by ensuring their protection and security. This bitcoin regulation is just a safeguard for their country. |
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I actually learned about bitcoin already a few years back however I chose to ignore it because I lost interest on it. Back then, the price was a lot cheaper. There were times when I wish I could go back to that time and at least bought some btc when it was so much cheaper as compared to it is now however there's nothing that I could do now. I'm still glad I learned about btc before the hype, and I'm currently enjoying the investment that I've made so there's no regrets in that.
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Well part of me is regretting that i sold my bitcoin in the past but still if i didn't sell it that time i won't reach on where i am today. Bitcoin price is still increasing and i think it will reach a higher price till the end of 2017 but as the saying say ''live life with no regrets.''
It alright we do mistakes not sometimes but everytime even if your not a klutz were not perfect man. And we didnt know that bitcoin has that potential to grow. Well its understandable why people dont trust bitcoin st first cause its not well credited and safe or can be said legit because it is decentralized. Although if you use it and experience using it you might be overwhelmed of the growing value over a short time in a modern world. On point! I agree because I too believe that experience is the best teacher. We can't blame ourselves for the decisions and moves we did before that may or may not have come out successful. During that time, that's what our gut feeling tells us, and even if it turned out wrong, to a prudent person, he may still get something good out of it by the lessons he have learned. Also, one can't live in fear of failure because it is always around. If you would regret all the moves you make, then you are not fit to be in this market, because the avenue for failure is always big given that the value of the coins may change at any moment. In investing or in life in general, with should also have room to learn from our mistakes and be open to accept our failures. It's our failures which make us stronger and better. Investing and trading is very risky, not only with bitcoin or cryptocurrency. We shouldn't let this hinder us or make us scared from trying again. No expert out there never made a mistake before becoming an expert. I have some regrets myself for selling poorly some of my btc in the past but I've learned to accept it so that in the future, I won't do the same and this will make me have better decisions. |
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There is nothing "classic" about the way that bitcoin behaves and trying to analyse it like that is a dangerous game. It has been on a long upward trend for a while now, so it could be a retracement or it could be the start of a much deeper plunge. Lots of people still seem interested in it however, so it may be a minor blip.
Most people believe that the bitcoin price has a lot more potential than the price that it is now, so it would most likely still go up even with the dip that we experienced. The interest is still there for most bitcoin hodlers despite the numerous FUDs and increased hype over bitcoin. It's simply a correction since the price has been going up for quite some time already at such a high rate. Also, this price drop is a great opportunity for the others to buy again with the expectation for a price rise right after. |
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I used to have different views on bitcoin, but I now honestly think that we're in a huge bubble. So much stupid people investing just for the sake of money itself. Once bitcoin stops growing in price... *pop*
I agree that Bitcoin is hyped at the moment and the price reflects that. There will be a correction soon and the noobs will see what that's like. Bitcoin will go down in relation to fiat currency and people need to get out of the mindset that Bitcoin is a commodity that should be valued against their local fiat. Bitcoin is a currency unto itself and once that's realized then the price against a fiat currency will become irrelevant as it should be. Every currency in history has these swings in the nascent stages, once the mindset matures of the people using it then it will show its true potential. The noob investors will most likely panic once a correction happens or even when the price dips even just a little. I have noticed that most people don't know that the bitcoin price frequently goes up and down and is very volatile. In fact, not most people understand bitcoin at all yet they choose to buy and invest on it. People are already convinced that it is a bubble yet know nothing about it's market capacity and other features about bitcoin, therefore failing to see it's true potential. The high price has simply attracted them. |
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Btctalk name: orions.belt19
Rank: full member
Current post count: 494
BTC Address: 3Bf62ofFiXGh5Z1BkPiEzFcZ8D7XELNU6L
Wear appropriate signature
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Well, it is not the problem with Bitcoin but the human involved. There are also cases whereby people buy and sell drugs or involve in any illegal activities using fiat.
Bitcoin is simply a medium where one may use for illegal activities. It’s all up to the user as to how they would utilize it. |
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well this prediction is totally possible to happen, way back then last year 2016, the price of bitcoin is only raise upto $700 , and many prediction made from that moment that bitcoin price will soon to raise more than $1k, and its happened, after a few months later (2017) bitcoin price hits the all-time price hike of $3k and some people are celebrating that changes, but some other people (businessman/bitcoin hodler) are not just satisfies from that changes and they continue hodl their own bitcoin and now, we witness are celebrating the price-rocketing of this bitcoin and we are still hoping that sooner or later bitcoin price will continue to raise unstoppable.
Many are hoping for and betting on a bullish year for bitcoin this 2018 and the price predictions have been crazily high. It may sound crazy now but who knows? It may actually happen. At the start of 2017, I never thought of the price to reach this amount so maybe we can never tell what 2018 has in store for the price of bitcoin. At this point, anything may really happen. |
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I sometimes do, especially when the price gets higher right after. I sometimes convert my BTC to cash in order to purchase useless and impractical things whenever I feel like splurging. There are times when I think about how much I probably could have profit had I not cashed out my BTC but having regrets or thinking about it would lead to nothing. Next time, I should just probably limit my use and stay firm in hodling.
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