neither of them have dumped bitcoin but they were the reason for the dump and these two are different things that should not be confused.
we have had the drama and the war between these two altcoins over power and money in the past days which has been burning the whole market down as people panic sold their bitcoin and as whales started seeing this as an opportunity to crash the market and make profit from that crash. so we are left with this drop.
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Some cryptocurrencies adopted asics resistant algorithm
but the fact is they changed the algorithm so that bitcoin ASICs can not be used for them. in other words the correct term is BTC-ASIC-resistant. but nothing is stopping a company from creating a new ASIC that can mine them. I am less active than before in the altcoins sections and news but as far as I know all asics are made to mine bitcoin in the first place? ASIC is not even about mining. it is basically an electronic circuit that is designed for a specific use. a bitcoin miner is a type of ASIC which is short for Application-Specific Integrated Circuit. but ASICs have other usages too. in crypto space so far since bitcoin has been the most solid Proof of Work cryptocurrency that is worth mining the focus of ASICs have bee on mining bitcoin's PoW. but there are other ASICs too. for example the scrypt mining ASIC that is used for mining litecoin (called Antminer L3) and recently Ethereum ASIC miner (Antminer E3)
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this is yet another reminder of the importance of cold storage. if you have your coins in cold storage like a paper wallet, bugs like this would never affect you and your coins will remain safe. the hot wallets should always only contain the amount that you want to spend.
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it is not "one person" this market may be small but it is not that small to be controlled by one person! it is whale s that see the opportunity and took advantage of it. and that is not a hard thing to do during FUD dumps and when there is a build up towards it from some time ago. and by the way it has nothing to do with faketoshi, is not even a whale ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) he just pretends to be one.
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when you want to start a new bitcoin obituary you either need to be a big guy (like Warren Buffet) so that you can simply bullshit about bitcoin's death or you have to have some sort of originality and a good imagination to come up with a well designed bullshit. otherwise you will only be a laughing stock ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) in 2019 /2020 a world (mark) cryptocurrency will be in unveiled for all to use for buying and selling.
we are always hoping for a better cryptocurrency that has all the characteristics of bitcoin but works better. but so far we have only been promised "better" but seen "shit" instead. and these things don't happen out of nowhere. there has to be some actual work on the way if we are to see a good cryptocurrncy be "unveiled". if you said in 2030 then your statement could have made sense because in 10 years a lot of things can change and it is more possible but in 2 yeas it simply is not going to happen.
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5% isn't really considered an "increase" it is mostly considered as daily fluctuations and it doesn't really need a reason. it has been happening for years within small ranges below 10% and is always ignored. a short term increase is when price goes up more than 10% and as you can see it has happened since the price drop was sudden and big which pushed the limits of how much they can lower the price in this round of dumps.
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Well, we can say "we just don't know what would happen", but the most fundamental economic principles of supply and demand are at play here.
first of all supply and demand is only one of many things that can affect the price and it is a lot complicated than that simplified graph you posted. secondly you are saying supply "AND" demand. but in your first post you are only talking about the supply and the rate at which it is being created and forget about the demand. demand doesn't has a fixed rate! in fact a big part of volatility is because of the changeable demand rate. for example at some point there is a surge of interest for bitcoin and that shoots the price up. and right now for example there is a surge of FUD which is decreasing the demand and also has slowed down adoption to a halt.
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How will crypto gain trust again if this had already happened? My guess is that this manipulation isn't done by group of people who has no passion for the development of blockchain. Craig Wright is actively speaking on conferences, he didn't give up after months of keeping his mouth shut.
it is money that corrupts everything. and so far it has been easy to make money like a parasite. and that has been what a lot of people have been doing thanks to bitcoin's existence alone. they keep on creating money out of thin air by simply forking bitcoin or creating useless junk called tokens every day. that much money will also want to exit at some point which causes big crashes. and then we also have the manipulators who want to make even more money by making the crashes even bigger and go against the drop using margin trading and other methods like Futures. and that creates a corrupted environment which won't go away unless the market grows big enough so that they don't have the same power anymore.
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You should not care a rats rectum about Craig Wright <FakeToshi> because he is going to burn out and fade away in the history books as a con artist and a snake oil salesman. This will be his call to fame and his legacy in the Crypto currency world.
he also doesn't gives a "rats rectum" about what history books say about him. he only cares about making money and lots of it. and that is what he, Ver and others have been doing. they make millions while people keep talking about how fake, scam,... they are consistently instead of fighting the scammers once and then stop paying them the attention they seek.
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when Satoshi created bitcoin and set the supply distribution plan the way it is right now, he was thinking about controlling the supply and the way it is going to be created. and he had no concerns about the price. besides what you are proposing is only an assumption. who is to say that if we actually had that method of distribution with block rewards reducing with a fixed rate every block, then price could be stable?
as I always say price is volatile because the market is pretty small and price is only determined on exchanges. so when someone dumps a large amount of bitcoin on exchanges the price drops drastically. so whether block reward is reduced every 4 years or every 10 minutes the exchanges will still remain small.
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the unfortunate thing is that everyone wants to own more bitcoin and they all know two things. first is that if the price is lower then they can continue buying more of it compared to when the price is higher. and second is the unfortunate fact that they know whenever there is a manipulation and FUD, they can make a lot of money from the market by shorting bitcoin and/or buying it cheap at the bottom. so what we end up seeing is a lot of FUD calling bitcoin dead. and it has been going on for years. there is even a very long obituaries page for bitcoin from all the biggest cases of them calling bitcoin "dead"!
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so far based on what I have seen this was mainly a social media drama mainly on twitter and reddit instead of being an actual hash war. maybe there was some small scale war too but in an actual hash war one usually expects to see some 51% attacks on the weaker chain and considering they are both small and BSV has been much smaller we should have seen something and unless I missed it, there has been no attacks of any sort. which makes everything that was said by CSW, etc nonsense.
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Some cryptocurrencies adopted asics resistant algorithm
there is no such thing as ASIC-resistant. that term is like a buzzword that some altcoins started back in the days only to advertise themselves as a coin that can always be mined with GPUs. but the fact is they changed the algorithm so that bitcoin ASICs can not be used for them. in other words the correct term is BTC-ASIC-resistant. but nothing is stopping a company from creating a new ASIC that can mine them.
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- I don't know where you live but anywhere in the world that I can think of, when you want to start a business/company and produce and sell stuff to people you need to apply for some sort of "permit" or "license" to run your business. this has nothing to do with bitcoin mining
- then if your company starts scamming people, your "permit" can be revoked and you have to answer for your crimes in a court of law. unless of course you live in a lawless country! again this has nothing to do with bitcoin mining
- number of companies producing hardware doesn't make mining centralized!
- the companies are producing hardware not controlling POW. if they want they can (like anybody else) start a farm, spend money and electricity and pay employees,.... to have hashing power and that is how PoW works, it doesn't give any advantage to the producers compared to others.
Its our time to explore more decentralized and greener mining alternatives.
and we are all ears for real suggestions not imagination. and we need to see actual proof of the suggestion working not some hype about some altcoin that uses a different method without any tests to prove its superiority.
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Disclaimer: I don't own any crypto currently, and haven't done so for a few months now. I left the market in profit, and haven't been able to appropriately value bitcoin since, so haven;t made a new entry yet.
I would separate discussion about being hyped and price prediction from each other because in my experience something can be hyped up while its price doesn't rise whilst something else can not have any hype while it is rising in value then gets some hype. right now I don't believe bitcoin is at all hyped. if anything it may even be under hyped. but I am still not making any decisions for entrance because the market seems to me to be extremely manipulated and that makes it unpredictable and at times like this I would wait until the manipulation is over before making an entrance.
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the problem with OP is that he thinks what he read is a "prediction". but it really isn't. it is more like a guess and worst it is something to fill the space on that news site so that people like him click it and read it so they can give that website some traffic so that they can earn money from that traffic. as a result they don't care about what they publish. most of the time they "create" both the "prediction" and the "expert" at the same time and quote them!
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I´m using BITMEX, sometimes the system gets overloaded
So you are pointing about "orders filled" here? Or the act of placing ones? Looks like their servers can't handle the volume. The placing of order should be instant. Didn't have an experienced on Bitmex though. Well then, try those suggested trading platforms above. They should be good. Don't want to specifically pinpoint what exchanges will you used. I want you to choose based on your own preferences. Not "order filled". I mean "placing orders"! The delay bettwen my click and the order Book placing. It goes about 5 to 10 seconds, not instantly, sometimes it got instantly, but it's untrustable. For regular daytrade its ok, but scalping would be extremely lucrative. it is a common thing that exchanges experience heavier load and slower response time due to that during the price rises or price drops since there are a lot more traders communicating with their servers. but also the problem may be because of your connectivity. you need to have a good latency if you don't want these delays. also try using their API (if they have one) through a bot it is always a little faster.
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Probably the Craig person is selling all of his coins to make some money and spend it on hashes to win the war (which he kinda lost already).
if it was really him then we wouldn't have heard the end of it. trust me, he would have posted the transactions all over the internet if he knew the real owners wouldn't come out ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) things like this are common. old coins move all the time. not to mention that the list OP posted is addresses that have old coins in them not coins that moved. for instance https://www.blockchain.com/en/btc/address/1FdPpELnjHfwSM4Nvi7LdYS4S4GVGsLUQY hasn't spent anything ever since 2012. and the rest haven't even spent anything.
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another reason can be because the alternatives such as USDC aren't really any better than USDT! they are all centralized and have their own shadiness and risks that comes with it.
While they're both definitely centralized, I'd personally prefer USDC compared to USDT. I personally think Circle and Coinbase are definitely multitudes more "government-friendly", for a lack of a better word, compared to Bitfinex whereas we still don't know if every single Tether(USDT) is actually backed or not. but also another way of looking at it is that they both have ties to US government and for that reason many people wouldn't trust them at all. they prefer a company that doesn't have that tie. not to mention that these two companies aren't really good ones either.
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