Worldwide, Bitcoin adoption is even lower than the few percent it shows here. With only 20 million funded Bitcoin addresses, and at least a few addresses used by each user, Bitcoin is used by at most 0.1% of the world population.
(I can't believe I never posted here, now I can finally get this thread in my New replies list)
Be welcome. The user numbers are a mere fraction like 1/5 of wallets, since everybody of us uses 2~3 exchanges featuring new addresses. Been cutof from one site, new registrations "pending" forever. Currently registering more new sites than really needed, because they are just blocking new users. Falling like a rock. Bitcoin FAIL of 2018 |
|
|
|
Which low? The lowest BTC has been since I have been involved was about $170. I don't think you mean that low however; since setting a bid a 1000 below that would be impossible. Unless the exchanges make it possible to have people disposing of their BTC by paying someone to take them off their hands.  170 left of a former 1300, or a -87% loss. Just any similar event of that magnitude is missing today. There was no Mt.Gox happening. Not even possible anymore since there are 114 tradesites doing above $1,000,000 *daily* volume. Source https://coinmarketcap.com/exchanges/volume/24-hour/all/ beware some might hand out false data. Tried projecting a similar decay onto $20,000 to get that "new 170 datapoint" since it looks again like $2600, that 2x ATH of 2013 mentioned bevore. Just a Gox order of magnitude event is still missing. Watching USDT peg closely. Forecast of that kind are uncharted territory so best taken with a grain of salt. |
|
|
|
Appears $12k is the pivotal turning point of this downtrend. Clear as day from the December ATH... next up, buying area between 7400-7800.
Extended drawing fibonaccy fans from ATH onto lowest low at(~ 6200) depics us still walking down the stairs. The difficulty on using fib-levels is about defining a "starting point" of sorts for the ATH pump. Just picked august of 2017 since that has been the biggest event of 2017, that results in 7400-7800 hitting ... void, actually. 23.6% level beein -500 below that. $6800 looking more likely as an entry for the cautious. Argueably the start could get moved to 3/26/2017 for a slightly different picture, just that would even lower these numbers even further. During the next years (2018 - 2013 = 5) I'm exspecting the level we had during the ETF decision market swings, which happened to equal 2013 ATH, probably as a very solid floor. Twice of that level marking the entry into slow waters. |
|
|
|
My bets are on 2020 for the really impressive action. There could be plenty sooner but that year has always made me feel strangely aroused when I ponder it. I no longer care about short term stuff. Every day a new brick is laid for a far out future. No matter what the short term strife is, the developments keep on rolling in.
2 Years from now onwards? The depression following the former ATH from 2013 took 4 years, not 2. |
|
|
|
Just stop using HitBtc? High fees are not 'fraud' if you are getting warned about them in the first place. If you don't want to lose ~$6 in deposit fees (up to $100 with USDT) for each deposit you make, just stop using them. There are way better choices. https://blog.hitbtc.com/introducing-deposit-fees-for-bitcoin/I was just going to say, as far as I know and have seen they are paying people out. The only thing that is fraud like or horrendous is how much they are charging for deposits and withdrawals. That kind of highway robbery may work for a couple months, but your product is going to suffer hard once consumers go elsewhere. Once I found that out, I vowed if the coin is listed anywhere else I will trade there. Only will I reluctantly trade on HitBTC now, I don't think that is what they wanted but it is what they get now. Their Blogpost looks funny today, since they justified introducing their horrendous fees by pointing at mempool sizes and network fees. Who are both down back to reasonable levels again. Now guess about them taking back their "Deposit Fees" ever again? Will stay like 100 USDT for a single buck deposit, right? Forever? Byebye HitBTC have a nice life. |
|
|
|
I'm glad I was not verified even 2,5 months after my registration!!
I was thinking about using them alongside KRAKEN and maybe try their credit card thing but I decided not to since they're unable to even verify an account. Now I've read this post too and... wow! No words.
PS: That's a bit old thread but I believe it won't hurt to bring it in the front, the oppossite most likely!
Pending registrations aren't exactly old, rather the actual situation. They are more focusing onto the oldbies, new people dont bring in fresh money onto exchanges rather want to purchase their very first single bitcoin and immediately withdrawing that. Liquidity comes from early adopters who do not know where to stuff all that money, taking higher risks. Maybe this user experience has been the next level of Exit Scamms, a form of selective scamming. They could have taken a grab at some $1000 user account instead, but had choosen $60k for their likings. On the long run it's probably moar lukrative fetching ten times $60k instead of doing a single Mintpal Exit Scamm, or a Cryptsy Runner. About sustainability. This UK "Limited" surely has no legislation at all, that compliance bullshit brought up beeing meere camouflage coverings. |
|
|
|
My fear has never been with price analysis or future stakes. It's always been about scalability and adoption. Cryptocurrencies have seen remarkable growth in the past 4 years and continue to show promise. But the one outstanding question is - how long before adoption port?
"Adoption" you voiced it out yourselfes. Teh scaling debate buries the crucial parts. A company like Amazon could just run a customers portfolio that gets funded by Bitcoin. Sending a transfer for funding your expenditures once a month. Not really a thread to scalability, ain't it? Starbucks could do, too. Regarding "fear" well there are scientist exploring the trustlessness of crypto currencies. Assurance in financials. Fears are irrational advisors. Vires in numeris, trust in numbers, in math, that's the path. Nuff said. Feeling batshit crazy again about recent market moves. We are only back again to "fear" because of the recent crash. Fuckit |
|
|
|
Do you think this bloodbath for today is over?
It seems like market is recovering
nope Between 2018 and 2013 there had been 5 Years. Once could argue that this meltdown could heal in another 5~10 years. But I doubt that. The momentum has been lost, the notation of the currency as a store of value destroyed. |
|
|
|
People are in now hesitation. New people are not joining to invest on bitcoin. For this reason bitcoin is decreasing rapidly. It is on correction and after that hopefully price will be recovered. It has still chance to recover.
Between 2018 and 2013 there had been 5 Years. Once could argue that this meltdown could heal in another 5~10 years. But I doubt that. The momentum has been lost, the notation of the currency as a store of value destroyed. |
|
|
|
Traders in cash I think until next week's Senate meeting with SEC and CFTC. $7600 is an important Fibonacci resistance level. Market needs to get back over $7600 and that could happen next Tuesday if news is good or even neutral.
Ack, seen the same $7600. Current journey seems to even target $4800. This ~ $5000 a rather psychological number. I'm not into kabbalistic, more round numbers style. Curious why SEC or CFTC should have any impact, at all. Most of the action https://coinmarketcap.com/currencies/bitcoin/#markets takes place at areas outside of their reach. GDAX + Kraken + Gemini < 10% |
|
|
|
So...this just happened to me; went out to the grocery to grab a couple things, young Asian guy with 2 toddler boys in front of me in the checkout line had a NEO hoodie and cap on.
I caught his eye and was like "tough couple weeks 'eh?"
He laughed and said he wouldn't have left the house but he needed diapers for the kids.
This is the first time EVER I have seen anyone in real life into crypto.
Everybody beeing in crypto currently requires fresh diapers. Just more concerning is the lack of fatal news, what's causing this meltdown. |
|
|
|
Who sold at the bottom?
We don't know that yet...  At fifteen. What's more unnerving is there's no way back in, again. |
|
|
|
Fear of catching a falling knife: too many false floors already, so almost nobody wants to take the risk.
There is no floor. This is the final Fail. |
|
|
|
$6173 on OKCOIN !! . Oh wait they stopped trading October 31st. So we are back to where we were 3 months ago. As sad as it is, it kinda puts things in perspective.
I still don't like this steady slide though. Its not how bottoms are normally formed
Sinkholes in the ground are shaped like that. -3 monthes wasn't the beginning. Drawing Fiblevels further back in time up to ATH discovers there is a level alike $4800 so $5000 might not even hold for hours. |
|
|
|
Well... Just took a look at https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html and it seems like whales are purely playing with the market. Looke at those adresses (top 4 of the blockchain adresses in term of number of bitcoin detained) : One dumps 7000btc, the other buys 7000 btc, one dumps 20k btc, the other buys 14k... Should we expect a massive rise, as that they have played with the market to make it sink and will surely make it rise to gain profit ?  Number 2 beeing a tradesite. Everything featuring thousands of transfers is no single entity. One could argue if those, swarm intelligence, act any wiser. edit: oh wait, it's BittrexFinex coldsotrage, gaining weight |
|
|
|
Well nice prediction that it will go down $7.5 but it could be a lucky guess unless you'll show us your data. We could be millionaires with you. If BTC will down to $4.5K This could be the best price to buy if this will gonna happen. So, What's next after $4.5K? His data merely been the 38% Fibonacci level which was slightly ($100) higher. These $4500 should be more like $4800 if you draw the charts more accurate. |
|
|
|
A hint whom they had been? Could explain recent market moves. |
|
|
|
This correction beeing the 2nd greatest ever in size and timespan will most likely reach same proportion as 1st, again. Lasting longer than 400 Days (above a year) going down more than -90% Possibly below $2000  |
|
|
|
Ethereum to $10k, i will like to be more positive on this speculation than ever.
Once Ethereum has taken the #1 spot on Coinmarketcap we will experience a lot of news coverage about the new technology. Kinda a crypto gold rush 2.0 taking place in 2018! Many new investors will be pouring in, all curious about the advantages of smart contracts and advanced blockchain technology |
|
|
|
This is just a guestimate, but it's way better than anything the geniuses behind 'the best bitcoin exchange' have been able to say: Kraken will successfully upgrade it's systems on the day Hell freezes over, pigs fly and we witness the return of Elvis.  In my kitchen hell there is a freezer, I managed to get pork into a temporary state of airborness and btw Elvis is not dead. But the first one regarding Kraken seems to be moving more slowly. Probably in trouble for even paying a development team since customer fund withdrawals are painfull, too.  System upgradeWe will be performing a system upgrade on Thursday, January 11 at approximately 5:00 UTC (Wednesday January 10 at 9 pm PT).That should have been 7 hours ago. Any metrics so far about failed orders? Where can I even see the version number of the current engine? Somebody has been publishing those metrics occasionally, orders placed/failed ratio, I do lack the technology to do relyable measurements. |
|
|
|
|
Show Posts
