Seeing how people are reacting on forums alone i think it is probably going to be the case. Even if you are a BCC supporter dumping it at the start if you can and then buying it later on is probably the best way to approach it. Though i really don't see why people would support basically a clone of bitcoin which is an altcoin airdrop, really.

I think that since people are treating it as an airdrop, dumping is absolutely going to happen. No merchants are going to be accepting BCC, probably only a handful of big exchanges are going to be listing the trading pair, etc.

I want to be neutral but it seems like no matter what happens, BCC is destined to be dumped to the ground. I think the timing is off, and the idea of an airdrop isn't the best idea either.

I think it's the fact that bitcoin cash futures value have been sliding, and people seem optimistic now that there seems to be no real issues presenting itself on 1st August which is really hyped about and had everyone worrying.

As to the apocalypse, probably not going to happen. Just completely impossible if you ask me, unless bitcoin cash gains like 100% more followers overnight then no, bitcoin price will not go down.

Remember that forks are good for bitcoin, a lot has been said about the negative side of forks(community division etc.) but in the end, forks are beneficial for the bitcoin ecosystem as software gets upgraded and it can scale.

Well, exactly what you just mentioned. Has bigger block sizes and segwit implementation.

I really don't think that this is necessary at this moment, especially just to create an entire new altcoin for. If you just want to have fast and free transactions there are a lot more altcoins to choose from(dogecoin, steem etc.).

IIRC bitcore has had a airdrop, didn't it?

IT's not really a direct competitor right now for bitcoin because the value is so low. The thing is that bitcoin has community support and a ton of merchants willing to accept it, bitcore and similarly bitcoin cash doesn't.

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Thank you.

It does seem like right now that people are again pumping bitcoin probably because BIP91 seems to be enjoying a pretty healthy amount of support and if it was to be activated then that would mean the activation of Segwit which is probably the majority's choice right now.

Ultimately though it does depend on what happens after the crucial August 1 date, it is completely unpredictable and if you have followed any sort of bitcoin media you'll see that even the experts cant' be sure of what's going to happen.

Dip could well happen if support for BIP91 drops to sub 80% for prolonged periods of time, or could be just a whale trying to get out of bitcoin before the August 1 date to cash out his enormous profits.

Market cap is indeed tiny, which is why i believe that $10k is not probable but rather something that is inevitable. If you think about it, bitcoin is everything that fiat and even gold is and so much more. It deserves to have a much larger market cap.

$10k would mean a $180-210billion market cap depending on the amount of coins in circulation. This might seem a large amount right now but guess what we thought when market cap was at less than 10 billion? Obviously everyone thought that market cap couldn't go up any further -_-

I would say that by 2025, after 2 halvings it is safe to say that bitcoin market cap will quadruple to approximately the $10k level. This plus the inflation of fiat currencies naturally will push bitcoin comfortably over $10k imo.

As you said it seems like that $3000 is some magical psychological number that just cannot be easily broken. Honestly breaking $2000 was a piece of cake and i think a lot of people including me thought that the upward momentum will definitely push bitcoin over $3000 and establish a nice floor at the $3k level. Well, how wrong were we, because we've probably tried to break this like 3 times already and now we're again trying to break it after the sub-2000 level low.

If no network split was to occur after 1st August then obviously this would be major positive news for bitcoin and $3000 wouldn't be something that we have to dream about anymore. If not though, things are tough and probably a drop will be there waiting.

Well it would have been a great time to buy in some coin when you posted this because that was when bitcoin was at a $1700 low, right? I bought in like $1000 of bitcoin and now it's worth more than 1.5x more. Wish I had bought more on credit to be honest.

Right now though i wouldn't say that it's a good idea to buy more. If you're a trader and is trading on margin especially then get rid of all of your coins, $2700-$2800 is unnaturally high in my opinion. Plus we have seen major resistance at the $3000 point.

Personally, i'm selling half and holding the other half. Maybe after the fork things will brighten up and clouds will be lifted and price will skyrocket. Unlikely but possible.

Well he sure has some balls, eat his own dick on TV. I definitely would want this to happen to but i do think that it is somewhat unlikely. Let's face it, only if fiat collapses to near zero value will this happen. And it will, but just not in 3 years.

I learned about this news on truthnevertold's youtube channel which is aggressively anti bitcoin and altcoin but aggressively pro-silver and gold for some reason. But seems like McAfee's statement is only painting bitcoin as a ponzi scheme even further and even a HYIP scheme to the ignorant people out there.

It'll sure be interesting though if he is going to go through with his wager if he loses though, i don't think he's flexible enough to eat his own dick....

Your questions are exactly why you shouldn't invest in any form of cloud mining site.

You got something wrong though, mining is only profitable when there is cheap electricity, you run your own pool, you don't need external cooling because your area is already so cold, and you manufacture your own equipment or you have a company that wholesales these to you.

But services like genesis mining, all they're trying to do is to get their share in maintenance fee and sell as many overpriced contracts as they possibly can, and offer it as an investment opportunity.

As you said if it is profitable for them then why are they offering contracts to the public? After all they're here to make $$$. So all cloud mining is either unprofitable or a ponzi scheme.

The thing is nobody seems to know about bitcoin enough to actually teach it in classes. Those who know it well enough usually are already running successful bitcoin related businesses and don't have the time to tutor classes. Plus they probably don't have a teaching degree.

So there you go, the main issue is that of above and the unwillingness of the government wanting to teach people about bitcoin because it is obviously going to be the currency people go to when fiat collapses, and they want to delay that from happening.

But it'd be damn good if they did start teaching it in high schools, offered bitcoin as a course in itself in college etc. But if you're just looking to develop your own altcoin or get to know the framework bitcoin works on studying cryptography is probably the closest and best thing.

It really depends on if you're comfortable with this level of security or if you want to go further than just that. I'm not using poloniex that much now since they're having problems but it seems to be the case with everyone.

You still have to type your password which means that it's just an extra layer of protection on top of your password. It sure can be broken easily by compromising your email but that's extremely unlikely if you have a strong password and then hacker will still have to guess your hopefully unique polo password.

Not an issue honestly to worry about, it's just a new feature.

Well yeah and there was already the bitcore fork which is already trading on some exchanges. But the thing is it is very unlikely that these forks are going to have any sort of real impact on bitcoin because community support is small. Bitcoinabc is basically a centralized altcoin owned by bitmain that will have solo mining in the first few days and the rewards will be reaped by only the founders.

It is extremely likely that even in an event of a hard fork that a majority of community will quickly find one chain that they prefer over the other, like in the case of ethereum and ethereum classic. ETH classic is a great coin but more people seem to be blindly trust Vitalik. No matter what happens, it's a good necessary step that bitcoin has to go through. Scaling has to be done one way or another.

Well... Poloniex isn't a wallet service but rather a exchange service so i'm not sure what made you think that it would be okay to upload your private keys directly on there. It's illogical for any exchange service to do that because you would have access to both your balance on the site and the actual private key to transfer out the bitcoin funds if you decided to cheat the system(and a lot of people would be itching to do this trust me).

I wouldn't actually use poloniex, honestly. Because it has a lot of problems regarding suspending accounts and not having a responsive enough support system to respond to tickets that people open up because they hit their account limit and want to verify their account or a withdrawal being stuck. Use bittrex/shapeshift instead. Plus in an event of a network split you could be only getting one coin instead of 2.

I agree with you, i think that this pump has gone quite a long way, maybe just a little too long.

I really wouldn't be surprised at all if the entire cryptocurrency market cap just started to collapse after this year, perhaps to 50 billion. This would obviously mean that a lot of people will be losing money and whatnot but also would be a great buying opportunity for anyone that missed out on this ride.

However, i expect bitcoin dominance index to rise to at least 75% again despite this declining total market cap. Alts are in a much bigger bubble than bitcoin at the moment, in my opinion.

Over the long run bitcoin is extremely bullish at least to me, but short run price is still extremely volatile.

Well poloniex is probably the cheapest right now. However i definitely wouldn't suggest using it because honestly it's quite shady how they are ignoring so many support tickets but at the same time having promises of speeding up that process in the future.

If you're transacting with small amounts, i'd suggest using coinbase and go through their off-chain transfers. Completely free and instant.

Obviously you are carrying a risk of coinbase closing down and suspending your account etc. but that is a small one, and plus you're dealing with small amounts anyways so it does not really matter.

If you have held bitcoin ever since it was $100 per coin then honestly there is really nothing for you to lose. You'll be in profit no matter what happens, so if that is you then in my opinion you should probably just keep holding.

However, if you bought at $2000 and want to cash it out for the $500 profit made, then go for it. I think there will probably be a hard fork that is activated as a result of the UASF and it's going to tighten community tension that is already existing
Smart! Diversify your portfolio, have like half in bitcoin and half in fiat if you're ever unsure of how things will turn out .

Not much really. They'll simply be a really big mining pool, potentially reaping in a lot of bitcoins by using their spare machines, that is all.

There is a possibility that some national governtment if they want to destroy bitcoin altogether would launch a 51% attack. But it would take them probably hundreds of millions if not billions of dollars to get enough hashpower and pay for monthly electricity bills to do this, so it is quite illogical for anyone to do this really. It is a concern, though. You can read more about it here: http://www.coindesk.com/51-attacks-real-threat-bitcoin/

If china controlled all its mining pool operations though that would be interesting because certainly there are a lot of secret bitcoin mines in china reaping the benefits of cheap electricity and natural cooling. In that case, i guess bitcoin will be negatively affected although a fork will always solve the problem.

On 1st August there will be a User activated soft fork occurring, you can go into more detail at http://www.uasf.co/.

It is rumoured though that a bunch of companies will try to initiate hard forks of bitcoin as well. I believe bitmain says that it's going to go about mining its own coin after the UASF if it is successful(correct me if i'm wrong), and bitcoin unlimited has majority miner support but a lot less nodes signalling support.

If i were you i would probably sell half my stash right now and then buy back when the panic sets in on or before 1st August. It's probably overhyped at the moment, and i'm sure a lot of people will panic and don't know what to do. Then, you can buy some cheap coins

it seems like that this article was written as a way to make others buy into bitcoin, so that they can make profit themselves on existing bitocin they have bought. This is one of teh most traditional ways of corporations using media to their own advantage.

I personally think that however they got the data - $4000 isn't impossible at all. It' sjust improbable when bitcoin is probably going to get forked into 2 and they run simultaneously that bitcoin will almost double in price again.

But whatever their intentions were - goldman sachs are probably one of theh biggest investment banks in the world and has a huge influence over the financial markets, and they are clearly showing interest in bitcoin.