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741  Economy / Speculation / Re: When will we see another Bitcoin 4 week boom such as in 2017? on: May 06, 2019, 03:54:03 PM
Between 17th November 2017 and 17th December 2017 the price of Bitcoin rose from around $7400 to $19300 (according to CMC)

Since that period when almost the whole market was riding high it came back down and hovered around £3000 for a long time. Now finding stability Bitcoin is around $5500 mark.

What next for Bitcoin? What are the market factors needed in pushing for another bull run or mass buying spree?

That rise was due to CBoE and CME offering bitcoin future contracts. So there's a lot of irrational buyers and FOMO was real. But this time, we don't have that kind of news to bring the market to such sudden price increase. And echo the sentiments that we don't want to see that happen again. Obviously we wanted the price to go up but not like that though, it's scary because it will be followed by another massive dump for sure.


Yes seeing the price go so high and so fast was a strange phenomenon because people were waiting for the inevitable dump to follow and the fear of losing the investment.

Thankfully the massive spike of December 2017 was a one-off. It has not re-occurred since.

those huge spikes are always a one time thing during their own cycle that is why people have started talking so much about these so called "cycles of bitcoin" lately. we keep seeing them repeated in a similar fashion with a big boom near the end like what we had in 2017 with $20k, in 2013 with $1200 and in ~2010 with $20 and so on.
if we keep the same cycles true we can see $100k this time in less than 1.5 year from now.
742  Economy / Speculation / Re: Report: Google Search Volume and Tweets responsible for Bitcoin Price Surge on: May 06, 2019, 03:40:06 PM
In a recent research on Google trends and Twitter, it has been found out that the number of tweets and their corresponding sentiments can influence prices. The research ultimately reflects that Bitcoin price trends reflect crowd psychology.

i don't know about Twitter by based on what i have seen in the past 5 years google trends is not something that affects bitcoin price but it is the other way around meaning when price rises more people find out about it so more people search and the "trend" grows.

as for twitter, like any other social media it can "spread the word" but i wouldn't go as far as saying it is affecting the price. bitcoin is not a small market to be affected by some spam on twitter. this "research" is making the common mistake of confusing cause and effect.
743  Economy / Speculation / Re: Bitcoin Could Hit The $6,000 Benchmark Soon on: May 06, 2019, 03:21:24 PM
i didn't see any "Analysts" in that link. just a bunch of random thoughts by the author trying to bait some clicks to his website and earn some money from the impressions!
besides price is already $5600 and saying $6000 is not far is the most obvious statemet anybody can make not to mention that we are already in rising mode for a couple of months which means a small 7% rise is nothing.
744  Bitcoin / Bitcoin Discussion / Re: Small blocks, middle blocks or big blocks? on: May 06, 2019, 03:10:27 PM
From BTC community perspective, both BCH and BSV block size are big.
From BCH and BSV perspective, BTC block size is too small tiny.

and from a realistic perspective bitcoin produces 1.2 MB blocks while BCH produces 1 KB blocks and BSV 500 byte blocks so bitcoin does have bigger blocks Tongue

ETH was grew not because Vitalik is a genius, but because it is the least of evils for migration, Vitalik looks the most adequate. And the proportion of ETH was always like xrp and ltc average, then so be it then. What do you think to what will continue the flow of domination?

centralized coins always get pumped better and since ETH is not just a token people invest but also a platform that thousands of scammers create easy tokens on to sell to newbies, the price of it grows even more and as ICOs die it also dies with them.
745  Alternate cryptocurrencies / Altcoin Discussion / Re: Right or wrong path? on: May 05, 2019, 07:46:26 AM
you obviously can do that like many others who have been doing it and still do. but the question you should be asking yourself is whether it is worth spending (or wasting) your time like this? there are a lot of jobs that you can do in the real world that can give you a lot more "money" than bounty hunting can and on top of that they don't require as much time spent and there isn't that much scams in real world jobs.
then you can use that money to buy anything you like, for example invest it in bitcoin and increase your networth by doing that.
746  Alternate cryptocurrencies / Altcoin Discussion / Re: Hearing some buzz on new coin called Veil on: May 05, 2019, 07:30:04 AM
what you are hearing is the "hype" that new project start online when they want their coin to be pumped. there is no way of knowing whether the coin is going to get pumped, when it is going to get pumped and by how much.
all you can say is that they plan on an upcoming pump. usually they succeed.

so the only thing to do in cases like this is to watch the market closely if you did see a rise in the volume and the price of that token to start then buy right away otherwise stay away and don't become a bag holder.
then the next step is to continue watching that market to find the best time to dump it before the pump ends and you miss your chance of selling.
747  Alternate cryptocurrencies / Altcoin Discussion / Re: What is the future of the Altcoins that have less than 1(one) satoshi as value on: May 05, 2019, 06:53:38 AM
because those coins sometimes can get unbelievably huge pumps they won't die anytime soon although they are all technically dead and some of them don't even produce new blocks anymore for a very long time.
it has always been so much easier to pump these coins too and that is why they are pumpers' favorite. for example you can see one of these dead coins that is worth 0.001 saothi to go up to 0.1 satoshi and that is 100x pump which can give you a gigantic profit. imagine investing 0.01BTC in it and cashing out 1 bitcoin!
748  Economy / Speculation / Re: Bitcoin's price break 5700 USD, is this uptrend or bulltrap? on: May 05, 2019, 06:39:13 AM
no, this alone is not the uptrend. the "uptrend" is all the rises that we had in the past 2 months and we will continue to have for the coming 2 years. there is no "bull traps" anymore because we are already in a bull market and any tracing back is only going to be a simple correction as it has been the case with all the small drops that we had ever since price started rising up from $3100.
the $5700 is no different either, we are testing the resistance close to $6k and that requires some small drops before it breaks out and goes to $6500
749  Bitcoin / Bitcoin Discussion / Re: Britain keeps the penny but micropayments might promote crypto adoption on: May 05, 2019, 06:14:24 AM
the thing about fees is that with the technologies that so far were created on top of blockchain technology there is no way to not have it, then the only thing to consider is how to keep it low while still keeping the decentralized nature of the cryptocurrency because that is the whole point of a cryptocurrency and if we make it centralized then there is no point in switching from the old centralized payment systems such as banks, credit cards, online wallets like paypal,... to a centralized cryptocurrency!
750  Bitcoin / Bitcoin Discussion / Re: mass-adopted of crypto on: May 05, 2019, 05:42:02 AM
the only problem that is preventing mass adoption is the fact that people still don't see bitcoin as a currency but only see it as an investment and when it comes to cryptocurrencies (aka altcions) they can not see them as currencies because they are not designed to be currencies but they instead were designed to be investments to be pumped and dumped so that investors can make more bitcoin.
so although bitcoin adoption has been increasing but it is at a slower pace and because of that price remains volatile (also because market is small) and that in turn slows down adoption like "chain".
751  Alternate cryptocurrencies / Altcoin Discussion / Re: Market situation on: May 02, 2019, 07:42:17 AM
pretty much the same as before and i don't see any reason why it should change because people have not changed at all even though they have lost a lot of money. so we will continue seeing useless projects, most of which are purely scams, which come along and get pumped and dumped a lot to make certain people who know how to ride the pumps a lot richer while the majority of others in the market continue losing money.
752  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Fraud Hits 1.2 Billion on: May 02, 2019, 07:27:23 AM
What has crypto become and is it becoming a means for people to do such dirty ways?

"cryptocurrency" has not become anything. it is still the same thing as it always was, a TOOL. the fact that some people choose to use that tool in an unsafe or wrong way is their own choice. for example when they trust shady exchanges that are obviously going to scam them or when some of these exchange owners are newbies who are handling large sums of money in an unsafe way it is obvious that disasters like these would happen.
753  Economy / Speculation / Re: Bitcoin is going steadily up, don't you think? on: May 02, 2019, 07:18:36 AM
I do have to agree with you, ever since I saw Bitcoin broke the 6,000$ support level since last year it has easily go down way past the 5,000$ level without any hesitation going to 3,000$ level. If we really wan't to see Bitcoin in the up trend or at least confirm a reversal we should see it go back above 6,000$. If we take our time a little longer here in the 5,000$ we might just see that Bitcoin move up on another consolidation level which I think is the most likely case if no notable movements happen for this month of May.

The downtrend you are talking from $6,000 is still part of the continous price decrease that started on early months of that year. Therefore, we can't really say that it established a support on that price level.

Now about going back $6,000, I don't know why some people are on rush. Just take a look at how impressive the slow increase coming from $3,000+ price level to what it is now. Even for ley's say that no such uptrend will happen this month, what matters here is, price should only swing around the current price level. If that will happen, we can steadily assume that the support is strongly built and that will lead into fueling another run.

Finger cross.

the rush that some people has is mainly the product of 2017 which created unrealistic expectations among certain people (which mostly consist of newcomers). they think a rise or a bull market is the same as seeing a gigantic rise in a short time and if anything other than that happens then it must mean bitcoin is dead and should continue dropping more!
those expectations will die off as we slowly rise up though.
754  Bitcoin / Bitcoin Discussion / Re: Bitcoin and Tether? on: May 02, 2019, 07:08:02 AM
Tether could drop to $0.75 or $0, it all depends on whether it is fully backed or they can make people believe so. I would not hold large amounts of tether because it has always been a shaddy operation.

USDT was always backed by real US dollars. The issue was not about Bitfinex was printing money from nothing. This is fud sensationalized by the bitcoin news media. The real issue is Bitfinex have their $850m taken by a questionable money processor and Bitfinex covered the loss with real US dollars from their Tether fund without informing their users and investors.

that is only one of the many problems with Tether but the main problem will always remain the same thing: the fact that Bitfinex has never been capable of proving that USDT was actually backed by real USDs and that creates a certain level of shadiness both about this coin and the company.
besides at the end of the day Tether is still centralized and that means it has a huge risk since if something happens to that company the value of the coin drops to zero immediately.
755  Bitcoin / Bitcoin Discussion / Re: shortest way to explain blockchain to a noob. go: on: May 02, 2019, 06:50:18 AM
i am not a fan of short explanations because they only create more and more questions the shorter they get. a good definition is the one mentioned above with terms such as immutable and decentralized in it but that only creates more questions as what it means to be immutable and how.

also a big distinction that i feel like OP messed up in first line is that blockchain does not contain balances. it only contains transactions that occurred and you have to calculate your balance based on that history.

so it contains balances is what your are saying Tongue

well it is not a "balance" per se. for example when you have a bank account, a PayPal account, Visa,... there is a database which is like this:
Code:
{ username:  Herbert2020, Balance: $1000}
{ username: TimeBits, Balance: $2000}
so to know how much money someone has you just have to look up the username.

with bitcoin (the blockchain technology) that "database" looks like this:
Code:
block_height: 1 { transactions...}
block_height: 2 { transactions...}
and if we say "username" is 1BitcoinAddressThatIUsedTOReceive then i have to loop through all blocks from height 1 to last one and check every single transaction to see which one has paid to my address and which one spent those payments to come up with the final "balance".
756  Bitcoin / Bitcoin Discussion / Re: shortest way to explain blockchain to a noob. go: on: May 02, 2019, 06:39:53 AM
i am not a fan of short explanations because they only create more and more questions the shorter they get. a good definition is the one mentioned above with terms such as immutable and decentralized in it but that only creates more questions as what it means to be immutable and how.

also a big distinction that i feel like OP messed up in first line is that blockchain does not contain balances. it only contains transactions that occurred and you have to calculate your balance based on that history.
757  Alternate cryptocurrencies / Altcoin Discussion / Re: Any Use Cases For Dogecoin? on: May 01, 2019, 08:27:20 AM
to add to what NeuroticFish said, i say it depends on the amount that you have received. you didn't mention how much Doge is "a decent " amount that you have received. if it is a couple of bucks then holding it is not a bad idea, you can use it to tip others on many different platforms, you can gamble with it in a lot of gambling sites, there are also some rare cases of some online websites selling (small) stuff for cryptocurrency and accept Doge as payment. but don't do it as an investment of if you hope it can gain value over time because it won't thanks to its unlimited supply and the joke nature of it.
758  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Crime is getting Worse, what do we do? on: May 01, 2019, 07:11:04 AM
2 things: demand better security from exchanges, or stop using centralized exchanges that control your coins and lose them.

a big percentage of these "frauds" are from exchange hacks (or so called hacks where the exchange fakes it).  so people have to start demanding the exchange to give them some sort of guarantee that can be pursued legally if they lost their coins. so that this can force them into coming up with stronger security instead of their silly methods that can be hacked this easily.
additionally we all have to eventually move on to decentralized exchanges. we are in a decentralized system after all and we have to have everything decentralized specially altcoin exchanges that don't require fiat nonsense and enforced centralization. it will also provide us with a much better privacy.
759  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it really a "Do or Die " time for Ripple [XRP]? on: May 01, 2019, 06:43:40 AM
it has always been a "do or die" scenario for XRP since it is a useless pump and dump coin and if the owners (the pumpers behind it) forget to keep it hyped and have pumps scheduled it can simply die and be forgotten that easily because it has no other usages to rely on for living.
and so far the team behind it has been doing a good job at scamming people with their 100% premine where they pump their shitcoin then dump their premined coins on the newbies on the market who will then become bag holders of a token that keeps losing its value.
760  Economy / Speculation / Re: Bitfinex massive spread on: May 01, 2019, 06:27:14 AM
I feel that we will soon undergo a memorable correction in Bitcoin's history. I'm already preparing for it, I'm just hoping that the whole cryptocurrency market will be able to recover. Otherwise, I don't know what it will become for the future. No matter all the "great news" that comes after, it will be too late, damages are done.


Plus the market is currently over-leveraged with margin longs made by the plebs. The market is now in the hands, and at the mercy of the whalecumulators.

but these "whalecumulators" can't keep up accumulating indefinitely! at some point they run out of money and would want to let the price go back up, not to mention that you can't really manipulate the market forever. the market retaliates against you. and that is why the recent rises occurred anyways.
so at this point i would say most of them are leaning towards a rise. there are always some who resist but they would be going against the market.
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