McAfee meant Bitcoin Cash, not current Bitcoin. He later deleted the tweet. He only referred to Bitcoin Cash as to Bitcoin.
Exactly. Fix the title OP. He doesn't care about bitcoins , he's trying to say that BCH/BCC will be 500k. It very well could be ONLY because he and Roger Ver are the only idiots buying out as many as they can and lots of people are just HODLing so they don't sell the wrong version of bitcoin! If you're educated on bitcoins you know what to do. If you don't then good luck! Just hold both. I thank them for the extra (real) bitcoins I now own. The prediction from him was 500k for BCC and 2400 for bitcoins. Just an FYI. Kind of a screwed up thread for sig spammers that don't actually understand what's going on. Wrong. He said that before the hard fork to BitcoinCash, so he was clearly talking about Bitcoin. If I am mistaken please post the link where he clearly said that BitcoinCash will be $500,000 and Bitcoin will only be $2400. |
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Was this when he said he will eat his penis on national TV if it does not happen? This is old news and before the BitcoinCash fork. He was clearly talking about Bitcoin during that time and it would be crazy to think that BitcoinCash will reach $500,000 in 3 years because it does not have the same merchant acceptance and dark market acceptance like BTC has. The hash power of Bitcoin also has not decreased even though it is more profitable to mine on BitcoinCash. |
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He is always saying price has to follow hashrate/difficulty...
Yes, in other words: miners decide the price.Again this is wrong. Miners don't make the price! I'd guess you're the noob who made this video right?! Miners have no influence of what the price of Bitcoin will be, except dumping the coins to the market they hold. It's not the miners who give Bitcoin it's value. They are just 1 part of several more with much more significance! So are you saying that the effect of losing the miners to BitcoinCash will not have a significant price decrease? I believe it will because if let us say 30% in Bitcoin's hash power suddenly is gone, the difficulty will take some time to adjust and it will make the network slow and confirmations will take a lot longer. |
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I believe the OP is just confused with how bigger or smaller blocks affect Bitcoin. It affects only the fees but not the price of Bitcoin as an asset itself.
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Just think about the Blockchain as high demand realestate. If there is an office building right in the middle of town, and all the local businesses want to rent office space; creating more offices will just lower the scarcity. But the value is derived from Bitcoin the asset which is limited in supply, and not Bitcoin blocks. Transaction fees are proportional to the price of Bitcoin. If the fees rise due to increased transactions then that means demand is high, thus increasing the price/btc.
No, it just means there are a lot of people competing to in make their transaction included in a block by paying a higher fee. The price of Bitcoin comes from demand from the coin itself. |
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He is always saying price has to follow hashrate/difficulty. But that is completely wrong.
Hasrate follows price!!
If price goes down significantly over longer period of time, miners will shut down some of their mining hardware, therefore hashrate decreases and difficulty goes down.
If price later goes up again, miners will switch on these mining hardware again cause it's getting more profitable again, therefore hasrate increases and difficulty goes up. This is Bitcoin mining 101!
Then this is really good news for BitcoinCash miners and investors. It is now being pumped and might be over $500 per BCC this weekend. If some hash power transfers to BitcoinCash, will that make the price of Bitcoin decrease? I believe it will take a longer time for the difficulty to adjust in BTC. |
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i think it will continue until 2019 and at the end of the bull run,because it is wave3 ,the biggest one
If it is not too much to ask, can you post a chart and describe what and point where wave 3 is in connection with the other waves? Thanks. |
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Hello pals,
Recently I introduced Bitcoin and cryptocurrency to my friends and family,they liked the concept but they asked me a question that I wasn't able to answer.Is Bitcoin really secure?What if a hacker was able to hack Bitcoin system/blockchain?Who manages Bitcoin security and what are the security measures taken to avoid hackers being able to steal Bitcoins?Why Bitcoin is not blocked for those who use it illegally by buying/selling in the deepweb market?What if governements ban Bitcoin because of these people?
I really appreciate if you guys give me some answers
Instead of asking that question here and get a lot of different answers that are sometimes wrong. Why not do some research your self. You can start by reading this https://bitcoin.org/en/developer-documentationI know you will think that you already know all of that. But really, you do not. I too also go back to reading it. |
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Why use Bitcoins for regular, everyday payments? I am for the idea that there is no need to if you can use fiat. Fiat is still the most convenient way of paying and everyone accepts fiat. Why would I waste my Bitcoins on buying a coffee?
But if I was a dark market user, then Bitcoin would be very useful since it is the only currency accepted in the dark web.
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A legendary Bitcoin trader, according to Coin Telegraph, called "masterluc" has predicted that Bitcoin will reach $15,000 by the end of this year and will reach the price of $40,000 to $100,000 by the end of this bull run. 2019 is his target year of when it ends.
He supposedly made the correct prediction on the 2013 pump and the crash. Do you believe he is also correct now?
Depends many factors in next time, if the momentum at now can continue until next few years, Bitcoin price reach to this target is possible. Because the demand always high than supply on market. Yes, that is what he has been trying to impart. He is saying that the momentum will continue until 2019 and at the end of the bull run, Bitcoin will have peaked at $40,000 to $100,000. So we have to get as much Bitcoins as we can now. 50 Bitcoins is $5 million at $100,000 each. |
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A legendary Bitcoin trader, according to Coin Telegraph, called "masterluc" has predicted that Bitcoin will reach $15,000 by the end of this year and will reach the price of $40,000 to $100,000 by the end of this bull run. 2019 is his target year of when it ends.
He supposedly made the correct prediction on the 2013 pump and the crash. Do you believe he is also correct now?
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OP, why are you mad? Did you buy at the high and now cringing at the prospect of this correcting below $3000? There are some traders who are indicating it will.
But in all honesty I welcome it. Buying the dips has always been a good strategy in accumulating Bitcoins in my opinion.
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OP, please edit the title to "Apple Shop in Belarus". That is a clickbait title that is making some people believe that the app store is the one accepting Bitcoin and Ethereum as payments.
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"pro-Core, pro-Segwit", so you are anti-Satoshi? I signed up for Satoshi's Bitcoin, a "P2P electronic cash system". Not a Bitcoin that requires 3rd party permission (lightning network), to transact.
BCash is really the original Bitcoin with simple scaling implemented.
BSegwit is an abomination to me, a centralized elitist altcoin that has very little to do with the original Bitcoin now. Sure it's going up in price all the time, that's cool, but it ain't Bitcoin, it's BSegwit altcoin based on Bitcoin and uses Bitcoin blockchain as its transaction history.
Anti-Satoshi? No, I am pro-decentralization and anti-Bitmain. Are you a pro-Bitmain? Are you willing to accept the network to become controlled by a small group of Chinese miners whose real goal is only to make money? What do you think of Asic Boost? Do you agree with that? And who are the BSegwit miners? oh wait, it's the same Chinese miners, what the hell is your point? Chinese miners mining BCash is suddenly evil, but the same miners mining BSegwit is good? They are actually just switching back and forth between the chains now, because PoW miners have no loyalty, they follow where the profit is. Did I say they were evil? All I said was they are trying to make a profit and does not care about the network. The reason why they do not want Segwit is because the next step will be a layer like Lightning, and an offchain scaling solution like it will be a threat on their profit model. But we all know some of the Chinese miners have connived together to fork and create BitcoinCash. Good, then everyone is happy. Why keep fighting the people that want small blocks and offchain scaling? We should be at peace. This thread is about deciding if I should keep my BCC or not. Please stop the hate. |
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But do not forget, Bitcoin will not go to $40,000 in a straight line. I can still correct back to the mid $2000s or the low $3000s. The important thing for us to do is to be sure we have our bids ready in those prices to get more Bitcoins.
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Bitcoin is less decentralized than it used to be but it is still good enough. The hard fork to BitcoinCash is more or less a proof that there are powerful people and miners in Bitcoin who are very unhappy with the direction of the network that all they can do is hard fork away instead of gaining control.
We all know miners want bigger blocks. If the network was centralized, we would have bigger blocks by now We already have bigger blocks by now I refer to Bitcoin Cash obviously. This could be thought of as a nice workaround instead of a direct attack against original Bitcoin which would likely hurt it seriously if not kill it on the spot. In other words, the network is centralized (at least, was before the split) but the miners chose by far less risky way to exert their influence since, as I already said, exerting this influence directly would most certainly wreak havoc in Bitcoin, thereby killing the golden goose that Bitcoin has been for the last couple of years But I refer to "if the network was centralized" then the whole network would have big blocks by now. That is why I said that to some boundary, Bitcoin is still decentralized. No one entity has 100% control over the network. Which Bitcoin do you refer to specifically? I made it clear that I meant the Bitcoin Cash network (as I wrote right away). You had me confused. I refer to the real Bitcoin. The one with the more hash power. Until BCC becomes the blockchain with the more hash power, I will remain calling BTC Bitcoin, BCC BitcoinCash. But this is in fact irrelevant since in a few months we will likely have large blocks in the main chain as well anyway. Do you mean Segwit2x? Do not make any conclusions yet. Let us see it happen first. Would it mean that by then we will have network centralized? Regardless, to exert control over something, you typically don't have to control 100% of it. It is usually a lot less than that, and sometimes even less than 50%
Yes. That is why I said Bitcoin is still "fairly" decentralized enough. |
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"pro-Core, pro-Segwit", so you are anti-Satoshi? I signed up for Satoshi's Bitcoin, a "P2P electronic cash system". Not a Bitcoin that requires 3rd party permission (lightning network), to transact.
BCash is really the original Bitcoin with simple scaling implemented.
BSegwit is an abomination to me, a centralized elitist altcoin that has very little to do with the original Bitcoin now. Sure it's going up in price all the time, that's cool, but it ain't Bitcoin, it's BSegwit altcoin based on Bitcoin and uses Bitcoin blockchain as its transaction history.
Anti-Satoshi? No, I am pro-decentralization and anti-Bitmain. Are you a pro-Bitmain? Are you willing to accept the network to become controlled by a small group of Chinese miners whose real goal is only to make money? What do you think of Asic Boost? Do you agree with that? |
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The best strategy for Bitcoin that has worked very well for me is "buy the dips". I have been doing that since last year everytime there was a dump or a "price crash". Thankfully it worked or I would have invested 20% of my monthly salary for nothing.
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It is laughable that we are starting to see discussions of Bitcoin reaching "crazy" prices like $20,000 and $40,000 per coin. My initial reaction would be to think "Are you crazy?", but then I remembered that $4000 per Bitcoin was also a "crazy" price to reach early last year.
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