The price of bitcoin was less than $1000USD in Jan. 2017, but it jumped to above $7000USD in Nov. 2017. Could anyone explain why it rose so much in the past 10 months?
It is just logical for bitcoin to go way up considering that adoption rate increased a lot in the past few months from btc legalization of Japan and other countries. It also has been stable in a low price for a long time, I consider what happened as btc releasing it's built up momentum. The only question is that when does this bullish trend end? When will it show a huge downward movement? No one knows but for now let's enjoy it's price. |
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in 2017 bitcoin increase value almost 700%, now prices between $7000 and $7300, what month do you think bitcoin will increase value till $10.000?
Probably bitcoin price would reach $10,000 by 2019. It is too early for it to reach the said price by 2017 IMO. Also, it is still early for it to reach the speculated price by 2018 because bitcoin has been in a prolonged period of bullish market already and a dump might happen soon. 2019 seems to be a realistic year for btc to reach the speculated price although it might get stable by that time on a lower price but the chance of it reaching 10,000$ is higher in 2019. |
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It seems the Bitcoin miners community found the way to solve the block size of Bitcoin without hardfork. I don't know the way made them cancel this fork, but I think create new fork and clone to new Bitcoin is bad choice, IMO.
Miners also know that the current hardfork train continuing will be a sickness for bitcoin and if they don't cancel segwit2X, then many other versions might follow to do hardfork too. Probably they havent still found a way to solve block size problem of btc but they don't want to risk btc's health further. Knowing them I know they won't give up and they will find another way to solve lock size problem but it won't be in the form of a hard fork. |
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As far as I know there are already ATM's for bitcoin working around the globe. It will surely benefit crypto world if ever there would be a crypto ATM where a lot of cryptocurrencies can be converted into cash easily. Bitcoin ATM at the moment is not widely used because there is only a few of them operational in a country most of the time. In my country's case we only have one which is located to the capital which is really far away to some users. |
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As we know nowadays everybody uses cryptocurrenies and specially Bitcoin in their trades and criminals too. China recently declares blockchain illegal in that country, How likely do you think is that other countries ban it?
If they start to ban it, what would be happen to bitcoin price?
For now I would say that it is very unlikely for countries to make bitcoin illegal now that they are beginning to notice it's potential and threat to them as well. I am sure that many countries right now are planning to use bitcoin to their advantage by adopting it early, like Japan. They know that if bitcoin goes mainstream, they would greatly benefit from it as first countries who adopted bitcoin. For now maybe they are planning to regulate bitcoin to some extent and are making a protocol dedicated to it. |
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Really ! everything show that Bitcoin will become the best worldwide cryptocurrency and digital payment system soon !
So what you think guys ?
It really shows that bitcoin will become the virtual gold itself. The only thing it needs for it to go mainstream is more exposure to public and it needs an increased adoption rate in order to become mainstream soon. Also, it needs to prove itself more but certainly.bitcoin is on the path of doing it. It also needs the constant rate of improvement until it becomes mainstream, transaction confirmation times needs to be faster too to accommodate more people. |
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You guys probably all heard by now that the Segwit2x got cancelled (for now) and there is still only one Bitcoin.
There are speculations that suggest the whales who were holding btc will eventually move to alts. What do you guys say? Will alts have stability? What alts do you guys see promising in the short term?
It is good that segwit2X have been cancelled I hope they fix it first before presenting it on public again. Alts might have stability in the next coming days and almost all altcoins have potential to grow in short term. The ones with the most potential though is the undervalued ones that have been stable in a low price for a long time now. For sure those will pump more if bitcoin took a break on going up. Others might consider moving into alts now so I think now is the right time to buy. |
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It will probably be the next eth, even bigger. In the past few months, waves has been overly undervalued even when there is a constant development to it. If it rises, I am sure that it is purely caused by it's development not by hype because developers never hyped it anyway. It should reach price ranges above 10$ in the near future after it have become one of the fastest blockchain in the world. The probability of it being priced more than eth is not that high tough. |
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Future trade right now according to coinmarketcap is $1179 https://coinmarketcap.com/currencies/segwit2x/ ... so may be with some really huge dumps after the fork, it should end up trading at $200.  Only time will tell anyway and I do not think it would have any relevance at the end as no one really wants to bother about centralised coin, but like i said, we can only just assume and leave time to tell what ends up becoming of the coin. Probably people will be careful in dumping it because of lack of replay protection so I guess it should end up trading at 500$ or more depending on what issues will arise. The only thing that is certain for now is that bitcoin would drop as people dump their B2X for fiat. That is certain to happen because selling btc is the same as selling b2x and vice versa if replay protection won't be implemented. Transactions made on one chain could be valid on both chains and I hope little to less people.will try to perform a replay attack. |
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I am asking for your honests opinions.
Is it safe to invest now or wait for the bubble to burst?
thank you
Honestly, I think it is not safe to invest right now because I'd you are planning on keeping it long term, waiting for the bubble to burst is wiser for better profits. Also, segwit2X fork is near and it doesn't have replay protection. So long as one sells their B2X, they are selling btc as well that might drive price downwards. For this reason it is wiser to buy after the phenomenon's hype has calm down for better prices. You can also enter just days or weeks after it. |
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You are not going to get extra coins, because the new coin doesnt have a replay action, it means, that your bitcoin balance right now has the price of Segwitx2.
It means that if in the moment that you receive your new coins, the price of bitcoin is at $7000, and segwitx2 is $2000, if everybody dumps their segwitx coins then the price of bitcoin will go down to $5000 (this works as an example) and this is why it is very risky to use.
You are not dumping segwit's, you are dumping bitcoin, with another name.
Exactly, and because of this, I think it is wiser to invest after bitcoin hardfork. If many will sell B2X by that time, it will greatly affect bitcoin price and it might not just cause corrections but rather it will also cause a huge dump in btc price. I expect bitcoin to go down in price after the fork. Too bad though they didn't implement replay protection, it would be nice if we could sell our B2X without it affecting our btc stash and vice versa. |
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Hiccup or bubble burst?
Probably what happened today and what will happen in the next few hours is just a hiccup and it is not yet a bubble burst. I think the most anticipated bitcoin price huge drop would be seen after the segwit2X fork. If bubble does not burst after the fork which is very unlikely, then it might continue to be stable at the price levels we see now before we see another crazy price movements. |
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Why the price of bitcoin is changing quite fast....Why so?
There are a lot of things going on around bitcoin which is causing the price changes but mainly btc price changes fast because people reacts on it postively or negatively and they buy and sell and the one with the most pressure happens. when buy pressure is more than sell, it will pump and when sell pressure is more than buy, then it will dump, after all bitcoin is running in the free market and daily exchanging of it from fiat to btc and vice versa causes volatility. |
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Many rumors about BTC value
What can you say about this...
BTC will hit 10,000 USD next year?
How much do you think?
Probably btc will hit 10,000 USD next year. Although that is the case, the other choices in the thread somehow is quite insane even if they are not impossible to achieve. The realistic target for now is below 8000$ below by next year but there is a high chance that it will hit 10,000$ if the upward trend continues next year and if it does not show a prolonged bearish market trend. For sure there will be a lot of action by next year and I am hoping for that. |
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Hi All,
I've started mining through Genesis Mining & Hash Flare.I was wondering which one is better ?
contract :
Genesis Mining- SHA 256 -open ended contract -no of months or years is a big question ? Any idea with any one in this forum currently having Genesis Mining-SHA 256 contract - upto how many months or years they are still with Genesis Mining.Just wanted an average no of months or years so that I can calculate the approx ROI on my Investment.
Hashflare SHA 256-1 year contract (which is too short) & clear terms.
Beside these 2 ,are there any genuine mining companies with better life time contract --ETC ETC
Any news on when will Genesis Mining - purchase of BTC -SHA 256 be back in stock as of the last communication Genesis Mining states by end of OCT I.E 31ST OCT they would have all product back in stock BUT till date none.
Any information will be highly appreciated
regards
Peter
Since you already invested on it, My advice is that you always withdraw your profits straight into your btc wallet because they will surely close at some point. Technically, there are no better choice among the two as cloud mining tends to shut down their site when they have earned profit already and the ones who typically profit in them are devs and early investors. There aren't genuine mining companies when it comes to cloudmining. You would be better off mining yourself or just trading altcoins. |
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I really want to believe that is the case as well. It is possible they really do not have the possibility of implementing it soon or they really do, but there is one thing I have known about these guys and their strategies which is to use rumors and speculations to get public opinions before they make a pretty big decision. Well, the public opinion is glaring and it seems most of their users who are crypto enthusiast obviously want it, so it is possible, rumor or no rumor, we may see them activating it soon or in coming year, with CNBC even announcing them registering some domains about 5 days ago. https://www.cnbc.com/2017/11/01/amazon-buys-crypto-domains-bitcoin-ethereum.htmlSince amazon is buying crypto domains it will probably not take long before they accept bitcoin and cryptocurrencies. The rumors seems to be true and like you I expect it to be implemented this year or the next. The only thing I can say for certain is that it would take less than a year from now for amazon to accept bitcoin if it is really true that they are buying domains related to cryptocurrency. If not, then it might take a while for them to accept btc and crypto. |
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Let us save some time that the greater fool theory will only apply to people who just buy Bitcoin without even a strategy. I am not against buying Bitcoin at a higher price but there is always a right time to buy it, if the high price is justified by the price chart then you will know that buying Bitcoin now is good. But if the price chart is not clear then you better just sit the price action down until it settles.
That is right although if no one will buy when the price is high then like OP said no one can convert their bitcoin to fiat at their desired price. Even if that is the case, the greater fool theory is somehow flawed. They didn't consider the fact that bitcoin is a new innovative tech that brought about the ease in online transactions, without ever needing a middlemen and it is just natural that innovative technologies will always have a rising value on the society. Another example of innovative technologies are facebook and today's smartphones. |
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Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?
It is very likely that in the future, the government will come up with a regulatory framework around bitcoin but they wont be able to regulate it completely. At the very least using the said regulatory framework will help them regulate it to some extent. There will always be a way to get away from regulations when one is using bitcoin whether it be now or in the future although it will be harder to avoid it when government around the world implemented regulatory frameworks. |
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There is no reasonable way to price Bitcoin. It all depends how many uses will be found for it and whether some other digital money will become more popular. But the price will probably get more stable once the market capitalization is getting bigger.Bitcoins value is only based on people speculation.
So long as anyone buys it in it's current price it is it's fair value since there is no way to determine the real fair value of bitcoin. If it dumps, that is the sign that the price as of the moment has been to high. If it pumps, then all that means is that bitcoin's fair value increased. If there is a way to determine it logically, then it would be easier to tell which price is it's fair value but for now let us just say that the current price is it's fair value. |
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Does the fact that bitcoin work as a universal currency effect the overall value?
The fact that bitcoin can work as a universal currency like USD somehow affects the overall value. Some people buy it for the purpose of buying an item online, and somehow the most convenient way to pay online when a store accepts bitcoin is btc itself. Although people tend to use bitcoin nowadays for speculative purposes, because of the said reason above the fact that it works as a universal currency helps to boost it's current value to a great extent. |
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