Ehh I'm not too sure about this one. A lot of the market is made up from newbies that joined in 2017 and 2018. For a lot of them, Bitcoin may be their first experience investing in anything. I'm worried if the price keeps dropping the newbies will panic sell because they didn't expect to lose a bunch of money. They came here to get rich quick. Newbies don't have the strongest hands out there... I could be wrong, maybe they HODL by heart, so we will need to see how the long-term pans out.

I have never heard of these exchanges. You need to be very careful when choosing an exchange, because they are the ones you are going to 100% entrust your funds with them. I would not trust these exchanges as they are small exchanges and could be very risky. It really depends on what country you are from, if you are in the united states I would recommend Gdax or Gemini for Bitcoin trading. Do heavy research on whatever exchange you decide to pick, as like I said, they will be the ones controlling your money.

Fingers crossed, I'm praying to bog this is the point where the downtrend ends and violently pumps for no discernable reason. We really could use a Bitcoin ETF right about now...  Actually looking like we are about to see capitulation to me. Maybe $5200 overnight... BTCs market cap is about to dip below $100 Billion. I hope the bulls might take hold soon...

Ha, this post was sorta funny to me. I know a lot of them are underwater, some actually are ok with it though. I was telling my brother to buy BTC since it was $300. He bought some at $8000 and is Hodling still. He doesn't seem worried at all. I do admit, while I am not underwater either, it would be nice if I played the market just right... But hindsight is 20/20.

The most important thing I can say is to try not to trade too much, just hold on to your coins long-term newbies... Don't worry about the short term dips! Hodl long term, and believe in the future of Bitcoin.

Yeah, there really is no way to stop exchanges from getting hacked. If it were easy to stop hacks, then they would have stopped already. One thing to also remember is it is hard to prove that an exchange that gets "hacked" isn't just an inside job. How hard is it for someone in the company to steal funds? Or even then, its really easy for the owner of the exchanges themselves to steal from customers and then claim it was a hack.

I agree, I'd argue sub $6k is looking pretty likely... It is interesting to see how we bounced off of the $59xx price range, so that gives me a little hope. But honestly, there is no reason to think that the bear market is over yet. I just hope these bulls take over soon...

Can confirm payment received and on time, thank you! I also want to thank julerz, I love the way the spreadsheet is designed. I hope to be in future campaigns of yours. Great job!

Don't listen to telegram pump groups! The ones who orchestrate the pumps are the ones making the money. They have already bought whatever coin before they announce they are going to pump it. The people in the telegram group that then buy the coins are the one the pump operators dump on. I know in this case you are talking about Bitcoin specifically, but don't listen to the whales. They aren't going to publicly announce they will be illegally doing insider trading and pumping Bitcoins price. It's not even $7k yet, and it is actually looking like there is a lot of downside potential.

Transaction times haven't slowed down compared to how fast they are currently. Bitcoin is designed to have a new block found once every 10 minutes. With transaction volume today being where it was in 2015/2016 usually the mempool can get cleaned out in one single block. Because of this transaction times arepretty much the same.

I was just using it as a point of reference for valuation. Considering Bitcoin became worth more than many other major companies in 2017 very easily, and its not a company but more of a global commodity, it seems likely that it could come within range of apples market cap. I said it was doable, I wasn't saying it was impossible or unlikely. Yes I agree Apple is grossly over-inflated.



Sweet. This is what I was looking for. I don't think too much money would be divesting from the stock market to invest into Bitcoin though. Bitcoin is more like a commodity, apples to oranges, would you agree? With that being said though, even if a small percentage, say .1% of money from stocks move into Bitcoin that would be quite significant. As far as gold, I can definitely see a lot of money shifting from gold to Bitcoin.

Hey guys, I have been thinking about this frequently with Bitcoin. I wanted to post this thread so I could have a discussion with those that are more knowledgeable than myself. I am curious as to what the implications of Bitcoins block rewards would be if say Bitcoin reaches $50k for example.
Obligatory disclaimer: I am a Bitcoin bull and am very passionate about Bitcoin. I am not trying to FUD in any way shape or form. I just want to have an open discussion as this is something I have been thinking about for a while.

With the block halving two years out, my math will be based on the current block reward. If Bitcoin hits a $50k price point then the market cap would be around $875 Billion. I think this is doable, as this would put it within range of Apples market cap. However, with Bitcoin's block reward being 12.5 currently, that means each block reward would be $625,000. This comes out to $90 million per day on average. This is an insane amount of money. There has to be new money constantly coming in to buy up these coins, right? Otherwise, the market would just slowly bleed money. At least that is my understanding of this So with that being said, $90 million per day works out to about $33 Billion a year. So if I understand correctly, there needs to be $33 Billion dollars each year buying up Bitcoin so the price can sustain $50k.

Now, we can assume every miner won't sell every coin and there will be some hoarding taking place. With that being said, let's assume every miner will only sell enough to cover the cost of production. We have no clue what cost of production will be in the future, so lets say its 50% of the Bitcoins price.  Even then this would still work out to $16.5 Billion yearly. Also, even after the block halving this would be $8 Billion per year. Is this something that is even possible? These numbers are very large, it doesn't seem too feasible to me. I remember people arguing this when Bitcoins block reward used to be 25, but the $ amount back then was really small. $Billions of dollars is a lot of money.

What do you guys think? Is my thought process flawed? Is it possible Bitcoin could sustain a price like this?

Yeah, he was being a bit evasive... Why do you think that is? Maybe he wants to stay relatively neutral? Didn't want to ruffle vers chicken feathers?


Oh yeah, I totally forgot about that too. I remember him saying it was the rapid devaluation of fiat currency which in part would cause the high price rise... Sounds to me like McAfee is going to have a full stomach at the end of December 2020... Also, it seems like he has started to backtrack a bit hahaha... Saying that the price will hit $500k if he becomes president in 2021. He contradicts himself way too many times to be taken seriously.

I was hoping everyone would frantically trade their tether for Bitcoin. That way we could have another mini-rally  , looks like this may not be the case though...



This post hasn't aged incredibly well... It looks like its true, tether is backed 1:1. https://www.bloomberg.com/news/articles/2018-06-20/tether-hired-former-fbi-director-s-law-firm-to-vet-finances . So I guess you can relax a bit, I can hear the Cryptocommunity collectively sigh in relief.



What? Buy some of what coin? Tether? Why on earth would you want to buy or even hold tether? Tether is a coin that is essentially the US dollar in cryptocurrency form. The price per coin is pegged to the dollar, meaning 1 tether = 1 dollar. It's called a Stable coin. When you get tether you are technically selling whatever crypto you trade for it. Now if you meant you were trying to get some Bitcoin instead of tether, then I agree and highly encourage you to!

I do agree though that it is a good sign the market had no significant reaction to this hack. But I wonder if the Tether news canceled out any negative price movement since both news came out at relatively the same time, I believe.


As much as I truly hate to say this, I think it is still too early to call in the bottom. It does look like a triple bottom has formed, but we haven't had any real significant breaks above the down-trend line or past resistance levels really. I hope that this red market is over, but I personally don't think it is. we very likely will see the $4k - $5k price ranges.

No one knows. It could be months, could be years. Bitcoin has bounced off of the $6.2k - $6.4k bottom three bottoms which is a bullish signal... But if it heads back down, then we probably will go under $6k, maybe even as low as under $5k. Really the only thing we can do is just guess. However, this is the short term. Long term is the game here.

The block halving happens in early 2020. About 6-12 months after block halvings Bitcoin sees a large price rise. If I were to speculate, I think it is around this time when we will see the price hit a new ATH.

Mcafee is so insane. He is such a character and I do find him quite funny, I love the guy. I mean, with the results of the last American election in mind, I could see how mcafee getting elected is a possibility now.  But I just can't take him too seriously. Especially because when he made those crazy price predictions, he stated he was talking about BCH, not Bitcoin. Not only that, but the logic he used to predict the price seems to be fundamentally flawed. IIRC he said that he started at the last Bitcoin mined, and worked his way backward. He says that so much hashrate would be needed to mine the last coin, that it should be worth Billions in order to make it worth it for the miners. It seems like he didn't take into account the TX fees miners are paid out. I could be wrong of course, but that is how I interpreted what he was saying.

Now, with all of that being said... If he were to be elected president I do think we would see a huge pump to $150k

Hey guys, I just wanted to say thank you to pugman, billgator, and those that gave genuine answers to the questions they've asked. I haven't participated in this Q&A but I have been following it. I have learned a lot of things from this thread and I think this is a brilliant way of encouraging forum members to learn more about Bitcoin.


It's sad to see how many people in this thread have taken advantage of this by attempting to get away with plagiarism just to earn quick merit  .

What is the significance of May, August and October? Is there something scheduled to take place during these months that I am unaware of? What makes these months so crucial for Bitcoin's recovery?


Bitcoin will not fall to $500 this year. The only way this will happen is if everyone starts selling and dropping Bitcoin like it's a hot potato. I don't see any reason for this to happen. Besides, if Bitcoin were to fall to $500 the confidence in the market will be eroded completely. It's likely Bitcoin will never recover if it drops this low, which is why it's not going to drop that far .

The merit system is a great addition. It has helped curb some of the garbage posts that plagued the forum for a while. I think it is way more efficient to rank up by actually having a useful discussion instead of spamming posts. Also, no you wouldn't be a Sr. Member by now if the merit system was never introduced. Your activity is too low, you would need to have a minimum of 240 activity to become a Sr. Member.

Alright, to me at least, the charts are looking very Bearish. Especially because we have been hovering at around this price for a while... I am fairly certain we will see a dump down to the $5k range within the next 3-4 days. I feel like it could go pretty low this time...



That is hilarious.