I just noticed the massive hash rate drop. 66% decline in the last 24 hours.

Does anyone know what is happening with the network activity? Is the network under attack? Bitcoin has had a massive drop in the daily transaction count. Yesterday we had 180,000 on average, this last week the lowest we have gotten down to is 138,000, and for the last 3 years have never dropped below 100,000 txs per day. Currently, Bitcoin has only had 40,000 transactions in the last 24 hours. This is a 78% decline in transaction volume since yesterday, and yesterday had a relatively low tx count already. This is a drop that no one is talking about, and it is honestly terrifying. Not to mention the hash rate has declined by 66% in the last 24 hours. What is going on?

Whats funny is you can typically get Bitcoin transactions confirmed right now for about $.005 compared to ripple. The fees have lowered on the blockchain quite significantly, mainly due to less transaction volume, but Segwit also definitely helps. Segwit will continue to be adopted and the network will continue to improve while we wait for the lightning network MN to mature more. I see a perfect storm brewing for the next wave of adoption.

That is a very good point, Bitcoin has great clients that fit any type of Bitcoin user. Worried about security? Download Armory or get a trezor. Want something lightweight and easy to use? Check out Electrum or Mycelium. This is a great benefit Bitcoin has over many alt-coins, the great development support and diversity of wallets. Not to mention the merchant acceptance for Bitcoin as well. A lot easier to find somewhere that accepts Bitcoin than it is any other coin.

There are very few alt-coins that are worth looking at. Bitcoin is the safest bet in my opinion, as many alt-coins are more volatile than Bitcoin and less secure. With that being said, diversification is a good thing. If I had to pick alt-coins to invest in, id say out of them all, Litecoin, Ethereum, and Monero would be the safest bets.

This was an old thread... Bitcoin's fees are low again, albeit there is less transaction volume. The block sizes are getting smaller currently and 1 sat/b transactions almost always go through on the next block for me. Bitcoin will never be able to scale to millions of transactions per day, but it can on the lightning network. Just takes time for the technology to be developed and mature more.

Congrats to those that made it in!

The first time I did a Bitcoin transaction was magic. That's when I truly fell in love with it. I was also bewildered by the idea of a self-regulated decentralized currency. I fell in love with the idea of it, then when I completed my first transaction I was hooked. I find that the general public pays no attention to Bitcoin technology. They only pay attention to the volatile price. Many people I have spoken to didn't even know that Bitcoin was not controlled by anyone. I tell them there is no Bitcoin CEO or Bitcoin company that controls it, and their response is "how is that possible?" If more people actually looked into bitcoins tech, at a very basic level, they will see the magic of it. But instead, the media is focused on sensationalizing Bitcoin's volatile price swings and that is the only thing the general public perceives when it comes to Bitcoin. Well, that and also all of the scams that are in the crypto space.

I do feel like Gold will always exist and be needed. I do think Bitcoin will eat into golds market cap, but it will never fully replace gold. Gold has been used for thousands of years, and it will always be a good store of wealth. Bitcoin is just better than gold.

I don't know if we are due for an uptrend yet. I think we haven't had capitulation quite yet for the second time. I'm thinking it may bottom at $5k, but it depends on how today will end.

Yeah, the cryptocurrency market is already worth Billions. The question should be why cant cryptocurrencies be worth Trillions? To which i say they can and will. I believe Bitcoin will always be the dominant crypto as it has the first mover advantage. I think in the future, especially with the millennial generation, Bitcoin will start to cannibalize the gold market. Bitcoin is just like gold, except better in nearly every single way. The Millennial generation will very likely opt in to buy Bitcoin instead of gold.

It would not be good if banks continue to do something like this in various countries. I mean if people truly want crypto, they can find a way to buy it; however, if banks make it more difficult, the every-day joe might not want crypto due to the hassle of obtaining it. The liquidity in the crypto market would drop and that would be very bad.

I am interested in joining if there are any extra openings for senior members.

Btctalk name: BitcoinNewbie15
Rank: Senior Member
Current post count: 378
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If you haven't picked anyone yet for this job, i'd be interested to do it for $5. I have an American accent, PM me if we have a deal.

A lot of people figure there is a Bitcoin death cross for Trade analysis. That predicts a price drop this significant, however I think $3,000 is highly unlikely. lowest may be $4500... If it hits less than $3,000 then we may be in trouble for a while.

It will find a bottom if it hasn't already. Just because it is falling currently, doesn't mean it will continue to do so. It will reach a point where people will not be willing to sell their Bitcoin for that low.

I would love for bitcoin to touch $35,000 in 2018. I think this scenario is possible but keep in mind, past performance does not indicate future results. Bad news can swiftly bring the price down.

I think this is a good first step for crypto, and a natural evolution of governments and eventually corporations trying to control the technology. Same thing happened with the internet when these companies created "Intranets" like aol. Open permission less blockchains will be the successful ones in the future. Besides, a government controlled crypto currency would be very bad for the freedom of the people if it were to be successful.

This is a very interesting question. I honestly am not sure what will replace Bitcoin, but as technology improves, older tech becomes out-dated. I recently have looked into DAG based crypto instead of Blockchain crypto. I think DAG (Directed Acyclic Graph) has potential, and may usher in the next generation of crypto currency. While DAG does have short comings, it provides a lot of benefits that are currently impossible the Blockchain technology. I dont know if any of the current DAG based cryptocurrencies out there will be successful, but I do think DAG may be the future, if there are security improvements. With that being said, I look at Bitcoin as digital gold. I don't think Bitcoin will ever disappear. It is by far the most secure network out there, and has one of the best dev teams. Bitcoin can coexist with other successful crypto as a store of value.

Even though your account is currently at a low level, there are some signature campaigns you can join, so you can start earning Bitcoin fast. Albeit not much, but it still helps. Eventually, when your account reaches higher ranks, you can join much higher paying signature campaigns. Also, your skill set is very good, keep up the good work.