Classic reaction, the one big thing I would say is the greatest gains for Bitcoin have been longer term. Its ironic perhaps but the spikes, the fastest moves often reverse and dont account for most of your gains if you are a holder. The amazing and surprising thing to many is the longer term gains that hold over years, thats really what makes its such a well performing asset.
This reversal right now is par for the course, quite normal and a function of the volatility to BTC we are all aware of. It has to even itself, its healthy to do so and markets require everyone at every order book price with volume to get filled really. We're in a kind of pivotal place for direction, target downside imo would be 36k and I would remain bullish in that scenario.
A market correction was long anticipated after the "pump". You didn't expect BTC to keep rising at a non-stop rate, did you? With due time, BTC will be able to get past its ATH of over $69k per coin. If many investors are considering Bitcoin to be "Gold's sucessor", then its current market cap is nothing compared to Gold's. Putting it in-par with the "yellow metal", Bitcoin would have a price of around $700k. That's close to the predicted price of $1m per coin. Just wait until 1-2 more halvings for this to become a reality. With spot ETFs setting the stage for full legitimization of Bitcoin, we can say the industry won't be going anywhere soon. We'd be considered early adopters of the future of money. Who knows if BTC goes as far as replacing Fiat (or even Gold) in the long run?  |
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Until the basic laws of physics are repealed, there will be no way a decentralized infrastructure will scale to the level needed to truly take on the world-wide credit card infrastructure (which is just a start in taking over currency generally). And even centralized cryptocurrencies using blockchain are too slow and expensive to scale to this level. XRP touts aspirational numbers of "a thousand transactions a second" when a real competitor would need to be several million transactions a second. There's simply no way you can do this with blockchain, and you'd instead need to use a non-blockchain paradigm like Haypenny. Blockchain is a great platform for meme investments like Bitcoin or NFTs, but it's not suitable as a real, mainstream currency and never will be. I think decentralized cryptocurrencies can scale to the level of VISA/Mastercard via the use of an off-chain scaling solution (aka Layer-Two). The only problem is that you still need to pay an on-chain fee (usually high) to open/close channels. If there was a way to circumvent that, Bitcoin and other decentralized cryptocurrencies would be on a road towards massive adoption worldwide. I've been doing some "digging" and found a Bitcoin L2 network called "Ark". It's privacy-focused and doesn't require you to pay on-chain fees to interact with it. Maybe someday the Lightning Network will use this technique? I hope so, especially when there's huge interest into BTC and altcoins. I'd bet 10 years from now, BTC would've already solved its scaling issues without sacrificing decentralization. The future is not set, so anything's possible.  |
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You must have meant mixers, not miners. The forum does not have anything against miners. We actually don't have to wait for regulators to go against privacy coins for the forum to stop accepting GRIN. The admin has already done it a few years s ago. Unfortunately, it's mainly GRIN's unpopularity that's the reason. The payment code for GRIN needed fixing but since it isn't really a popular payment option by users here, the admin didn't bother putting it back. GRIN is probably better than thousand others in the crypto ecosystem, so there might come a time when it gains more popularity if somebody takes over the project and gets busy with development and adoption. Yes, that's what I've meant. With mixers being heavily-scrutinized by mainstream governments, we should expect things to get worse in the long run. Privacy coins like GRIN and Monero are not immune from government prosecution. They can face de-listing from other CEXs as pressure mounts over time. A pity, because I liked GRIN a lot. It could've been a good XMR contender in the long run. With development progress stalled (AFAIK), it should only be a matter of time before GRIN becomes a relic of the past. Same goes for BEAM. Monero seems to be the most actively-developed privacy coin to date, despite the aformentioned shortcomings. If it's de-listed from every CEX, there will be no Fiat on/off ramps except through P2P exchanges (or face-to-face). It'll be a dark future ahead for GRIN and similar coins. At least, it was "fun" while it lasted.  |
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Most altcoins follow the trend of Bitcoin, and so it's very likely whatever happens to Bitcoin has got a reflective effect on them. So I would prefer to buy at this moment because by that time, the trends must have gone far and you will not be able to buy at a good price or FOMO may set in and you may take irrational decision that may not be a good financial decisions. If you buy now before the halving, after the halving, by the next bull run, you may be able to get some good profit on your investment.
Buying during halving isn't a bad idea but then it could be buying at a bad price because definitely their will be volatility due to demand resting from the halving.
Market prices have been going down lately because of the "buy the rumor, sell the news" event. It's the perfect time to grab altcoins at a discount before BTC goes through the halving. I believe the market will turn bullish afterwards (as it has been shown in the past). My eyes are on both Solana and Ethereum, as they're the top coins for "De-Fi" and NFTs. It's likely they will reach a new ATH soon. We can't discard BSC either (the chain of BNB), especially when it's backed by the world's largest crypto exchange. Exciting times ahead for the whole crypto/Blockchain industry. Just keep buying, and holding, and forget about the rest.  |
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15 years is a eons for... technology. And Bitcoin has traveled further from it's goals of being a decentralized currency in that time, not closer.
The ETF in particular makes a mockery of the original goals of Bitcoin.
Bitcoin is a meme investment instrument, not a viable means of mainstream transactions. There's nothing wrong with that, but you might as well get used to calling it what it really is...
You're right about that. ETFs move Bitcoin away from its original purpose. Most people don't care about this because they only want market prices to go up over time. It's this "indifference" that will give banks and governments the ultimate victory over Bitcoin. Fortunately, not all hope is lost. The community can make a new fork with decentralization + censorship-resistance in mind. Or they can choose an existing fork like Bitcoin Cash and call it the "original Bitcoin". Things would've been worse if BTC was a closed source cryptocurrency. I know development progress has taken longer than usual, but let me tell you that scaling the Blockchain is no easy task. Especially when developers have to make a balance between decentralization and convenience. Otherwise, BTC would risk turning into a centralized coin like XRP and the likes. I'd wait 10 more years to see what happens. |
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LTC had been my goto coin for over a year now. They have one of the lowest fees, Less than 1 cents and the transaction are quick.
It's amazing how we still can transfer large amount of value quickly spending less than a cent. Compare that to a BTC transaction which takes over $10.
LTC is accepted almost everywhere. The 2nd most used coin specially transferring in and among defi are BNB and BSC tokens. They take about 10 cents on average to move.
Funny thing is that LTC has even greater acceptance and liquidity than most of the overhyped coins trading on the market today. It's why many proclaim Litecoin to be "Silver to Bitcoin's Gold". With cheap fees and fast confirmation times, LTC proves to be a great Bitcoin alternative. If it becomes congested, you can always use Dogecoin or another cost-effective altcoin. That's the beauty of open source + decentralization. Hopefully, Bitcoin fees would decline as developers introduce a series of network upgrades that will help tackle the problem. We may have to wait until the halving ends to experience a relief in our "pockets". Despite the high fees, Bitcoin is still the most popular cryptocurrency in the world. Who knows what lies ahead for the entire crypto/Blockchain industry? |
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From my perspective, Bitcoin is currently undergoing a multitude of attacks let's break them down one by one.
Political / Legal. The current political attacks being lead by senator Elizabeth Warren and cronies was initiated after being directed by Jamie Dimon (who has since been appointed as the AP or Authorized Participant for the largest BTC ETF). These attackers seem to be doing their very best to legally separate plebs from their sats while aligning Wall Street to become the custodians of our freedom money.
Technical / Social. The L1 Bitcoin network is currently being spammed by Ordinals and Inscriptions which is prematurely increasing the L1 transaction fees. This is pricing out many lower net worth folks from participating in L1 self custody. This attack seems to have a large amount of buy in from NFT pushers and alt coiners as well as a good chunk of the miners as most of the larger miners are being short sighted and looking to maximize profits in dollars as much and as quickly as possible. This has lead to a huge battle within the Bitcoin community and it currently remains to be seen how this will play out.
Wall Street Attacks. By now everyone knows that Wall Street is here as they have had their ETFs green light. If the first two days of trading are any guide of what's to come, then I'm afraid to say its starting to appear they're going to buy OTC and dump spot market in an effort to control the dollar price of Bitcoin. Just look at what Coinbase has said with respect to their reported $7,000,000,000 USD of OTC traded the first day ETFs did. None of course can be independently verified by any of us plebs. These ETF / Wall Street folks are asking us to invert the ethos of "Don't trust, verify." into "Trust us bro." In my view Wall Street would gladly take a substantial loss on these Bitcoin products so long by doing so they believe that it would greatly harm or destroy bitcoin in the process as Bitcoin is the largest threat to their way of life.
...
I'd say the "biggest attack" on Bitcoin is the approval of spot ETFs on the US and abroad. That's because big institutional investment companies will acquire a large portion of the supply, leaving the "little guy" out of the system. With this move, governments will finally be able to control Bitcoin (sort of). The high network fees are not a problem, since they can be lowered with subsequent network upgrades (subject to the community's approval). In fact, high fees makes the BTC network stronger over time (prevents spam). You are basically paying a "premium" for transacting on the most secure and reliable payments network in the world. It's the "Wall Street" problem (ETFs, futures trading, etc) that we need to solve. If we don't do anything about it, Bitcoin will ultimately fail in replacing the middleman (eg: banks) for good. Who knows what the future holds for the project?  |
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the price is low perhaps because the total supply is very large, but people will not see that because investment is not only about total supply but also about long-term utility. It's true what you said, without a breakthrough or new hype it's impossible for Tron's ranking to rise.
Despite the fact that TRON has a vry large supply, it's still one of the most liquid crypto assets on the market. The cheap price of TRX makes it extremely-convenient for "De-Fi" and day-to-day transfers. While the project is lacking behind others in terms of innovation, that doesn't mean it will die soon. A lot of exchanges are still trading this coin, so there's hope things will get better in the long run. With Justin Sun out of the picture, what's stopping the community from making the TRON blockchain a "force to reckon with"? As long as decentralization is put first, there should be nothing to worry about. Maybe TRON will live alongside major cryptocurrencies for generations? Just my thoughts |
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Using Litecoin to move crypto around is never a bad idea. Keep crypto in bitcoin than shift to litecoin when ypu want to move crypto and back into bitcoin. 2 problems with that is spread rate between the 2. And the second and even more important is every move into another currency drives a taxable event at least in the US. I'd keep some liquid in litecoin but the downward risk is too great to keep too much in LTC.
Taxable only if you use centralized exchanges. Keeping everything non-custodial (decentralized) and P2P is the way to go. I think with all of the publicity Bitcoin has (especially with the recent approval of spot ETFs by the SEC), fees will stay high for a prolonged period of time. One would hope Litecoin doesn't experience these issues in the long run. Bitcoin developers are going to need to introduce a series of network upgrades to address the "high fee problem". The LN is not the ideal solution for this, especially when it requires users to pay high on-chain fees to open/close channels. I guess this inconvenience forcee people to choose an altcoin like Litecoin or Solana instead of the LN. Fingers crossed things will get better in the long run. |
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I think it's too early to say that crypto will not become mainstream, of course cash is still king, but there are some countries that accepts bitcoin as a payment method and uses LN for that. But it seems that your argument though that bitcoin will be like replacing cash, it will not happen in my opinion. At least give bitcoin a decade to progress, we barely touches the surface as what it can do, and it is still in it's infancy and very young.
If we compare it to the internet, it's the same process, no one wanted to touch and adapt it. But when they realised it's potential, it suddenly exploded late 2000. Same thing with Google, and other technologies that were not adapted early, but now it is part of our lives.
New technologies take time to develop until they're mature enough for mainstream use. It's only been 15 years since BTC came to the world. I'd say there has been impressive results within such a short amount of time. We've seen some countries going as far as accepting BTC as legal tender. Not only that, but institutional investors are also considering pouring lots of money into crypto. With spot ETFs approved in the US and abroad, Bitcoin is on its way of replacing Fiat currencies in the future. Or at least, eliminate the need for paper money. Just buy, "hodl", and forget about the rest. Who knows if early adopters (like us) will strike it rich in the future? Just my thoughts |
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Ehh I certainly agree that they are mostly interested in the blockchain technology and how this could be implemented in to their systems and how it could improve things, but banks tend to be interested in anything they can make money on. I have no doubts that Chase financial adivsors will start putting people in to bitcoin ETFs. As an FA who hears from clients all the time on bitcoin, they want to own it and they want to own it as safely and easily as possible so an ETF where they don't have to worry about the key control, will be extremely enticing. Can't wait to see how Jamie reacts to this. He certainly wont stop it, if there's money to be made, he's there for it.
With spot ETFs approved by the SEC, the US government will finally be able to control a large portion of BTC's supply. Jamie Dimon should be happy now. I know most people won't care about this, as long as they see market prices grow in the long term. They're missing the bigger picture of what will ultimately (God forbid) lead to the demise of Bitcoin in the future. Wasn't BTC meant to be the anti-thesis of the existing monetary system empowered by banks and governments alike? By opening the doors to "Wall Street" we have moved away from Bitcoin's original vision. It's likely Jamie will keep bashing Bitcoin while buying it in secret. The more negative pressure is exerted over the cryptocurrency, the lower market prices will be. This means bankers and the "Elite" will be able to grab BTC at a huge discount. Don't fall for their moves. Lets see how much BTC these institutions (BlackRock, Fidelity, etc) will accumulate over time. With such a finite supply of 21m coins, it's likely they will "own it all" (sort of). The future can't be predicted, so lets hope for the best.  |
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for long term defnitely kaspa, i just don't think anyone really gonna invest in ETC for long term at least those people that are new to crypto will definitely think that kaspa is better coin and ETC just ordinary hard for of ETH which gonna get overshadowed anyway.
but considering that both are PoW its gonna be the same more or less but kaspa have implemented newer technology that allows their PoW to be energy efficient so i put my bet on kaspa.
other than that, i think potential is pretty much the same, its just future proofing on my side tbh if i were to choose whether to invest in ETC or kaspa.
Investors are always looking for new coins with the hopes of doubling or tripling their profits during the hype cycle. ETC is old and not as popular as Kaspa (although it has a higher market price). So you can see why it isn't that attractive to investors. Miners, on the other hand, will stick with the chain that's most profitable for them. I see a future for both coins, as they prove to be much more decentralized than Ethereum (ETH) itself. It wouldn't hurt buying and holding them until the next "pump". The crypto market is unpredictable, so expect the unexpected. |
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totally agree that DeFi will continue to grow and especially if combined with AI. surely these two things will become an undeniable hype. so it is very suitable for investment in this area.
If for the coin meme, it actually rises quickly, it also sinks very quickly. just for fun, not for long-term investment.
Lets not forget about the NFTs hype. Ordinals are still very popular on the Bitcoin blockchain. With L2 networks gaining momentum, it should only be a matter of time before NFTs take advantage of low fees and fast settlement times. L2s like the Lightning Network, Arbitrum, and Optimism could obtain new use cases in the long run. I'd suggest you keep buying and holding top-tier coins to reap massive profits within the next bull run. With BTC spot ETFs approved in the US, we should expect the crypto market to grow bigger than ever. Who knows what the future holds for the crypto/Blockchain space? |
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Hey everyone I've taken care of sending the payments once again, they're on your accounts now. Have a nice week. Received. Thanks, Lutpin. You too have a great week! |
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Etherum Classic seem pumped yesterday and now is at the green candle but kaspa also a good coin I mean there is ASIC that dedicated for kaspa only I mean when there is ASIC on Pow usually the coin is really hype
so kaspa or ETC why not both right but I heard about ETC is going to upgrade is chain and it called The Spiral Network Upgrade will be activated on block 19,250,000, which is estimated to arrive January 31, 2024.
Glad to know development is still on-going for Ethereum Classic. Some say the chain will adopt a hybrid consensus mechanism (PoS + PoW) in the future. Whenever the rumors are true or not, are yet to be seen. I'd prefer ETC to remain a classical PoW coin forever. Kaspa is also an interesting competitor that can't be ignored. It has lower network load and a different approach to PoW. Not to mention, it's cheaper than ETC. I love both chains because they're much more decentralized than ETH itself. The latter has become a playground for whales and the corporate sector. What more would you expect from a PoS coin? At least, we have plenty of options to choose from. Who knows how large will the ecosystems of ETC and KAS grow in the future? |
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Really? I mean nowadays, when you can easily get micro SDs of 1To and 100Mbts line connexion ??
Nowadays everybody is watching the TV over internet!
In developed countries like the US and UK? Yes. But that doesn't apply to people living in developing countries like El Salvador and Argentina. The vast majority of these countries' inhabitants are living in poverty. Keeping Bitcoin accessible to everyone is the best way to ensure decentralization and longevity. Otherwise, we'd be creating another banking system where the "Elite" has all of the advantage. I'd prefer to pay high network fees, as long as decentralization/censorship-resistance is preserved. If you really want low fees and reduced wait times, then I'd suggest you choose among the plenty of altcoins (or "shitcoins" if you want to call them that) available on the market. Eventually, BTC on-chain fees will settle as the Ordinals craze fades away into oblivion. Developers are already considering how to prevent a further spike in network fees, anyways. As long as everything is done in a "balanced manner", we should have nothing to worry about. |
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See that's the funny thing or irony of the whole situation. Jamie has continuously bashed bitcoin and cryptocurrency yet his company created their own cryptocurrency coin as well as doing things such a filing for an ETF. The main is a massive hypocrite on top of being one of the worlds biggest scumbags. I can't stand this piece of human filth.
Banks are only interested in Bitcoin's core Blockchain tech. Not the cryptocurrency itself. JP Morgan has been experimenting with its own version of the ETH blockchain for the implementation of its very own cryptocurrency/token. Yet, Jamie Dimon criticizes Bitcoin as being a cryptocurrency used for criminal activities. If that's the case, why care about Blockchain tech at all? Pure hypocrisy like you've said. Eventually, these bankers will launch a CBDC with the government to proceed with their plan of a "global reset". The rich will become richer, and the poor, poorer. Once CBDCs rule the world, we should expect a full blanket ban for decentralized cryptocurrencies like BTC and ETH. At least, in the future. Lets all enjoy the spot ETFs hype while it lasts. |
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I think GRIN remains functional therefore still a nice alternative. But it definitely is not as relevant as before. I remember when theymos even accepted GRIN for payments in the forum. It was not expected, both theymos' decision and the choice of altcoin. But that the main administrator chose it for being a real crypto project or legit innovation as compared to the thousands of others that are merely copies of each other and mostly scams, it speaks volume about GRIN.
GRIN is definitely not a complete bust but I think it's not really a good long-term investment unless its promotion is improved and its usage widened.
The forum admin took the decision to ban mixers out of fear from government prosecution. If regulators go against privacy coins, you can bet GRIN will be removed from the forum ASAP. The cryptocurrency's days are numbered. Just like BEAM, Monero, and the likes. I guess that why GRIN is very unpopular these days (aside from a poor marketing/promotion strategy). There hasn't been any innovation on the project so far (as far as I know). With a limited number of exchanges and low demand, it's likely GRIN will fade away into oblivion. The source code and the core blockchain network will still be with us, though. What's stopping someone from reviving it in the future? As long as decentralization is put first, nothing else matters. |
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There was no price shock or massive price pump after the bitcoin ETF was approved.
bitcoin price is normal. the increase or decrease is also small according to the price increase on normal days. like there is no big news at all to shake the market
It may have already been priced in. BTC "pumped" all the way to $46k before the approval of the spot ETFs, so that's it. We'd need to wait after the halving to see what happens. I'm pretty sure BTC will go to $100k in no time. Exciting times ahead for Bitcoin and the whole crypto industry. One would hope BTC doesn't turn centralized in the long run due to massive institutional adoption. Now that the SEC has given the green light for spot ETFs, I wonder what Bitcoin haters will say? I'm referring to Jamie Dimon and Senator Elizabeth Warren. With legitmate use cases for Bitcoin, they would have nothing to say or point at. |
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Excuse me I do not understand.. How or in what maner that is giving power to central authorities ??
Maybe that the non popularity and low mining difficulty could open a way to some parties to put influence on it, but what is the correlation between bthe blocks size and this ?
Spamming network could be stoped by simple parades like for example deciding a reasonable minimum fees price ..
Historically the miners have chosen not adopting the block size increase (which in implementation figuring on the original code of Bitcoin) just to assure themselves a good revenue from fees! Even Gavin Andresen was very partisan to the block size augmentation and just gave up from BTC after that episode!
When developers increase the block size, the node software's storage/bandwidth requirements will increase. People will be forced to have powerful machines (PCs) running Bitcoin Core in order to keep up with the huge block size. This will make the network more centralized, because only a small few (mainly wealthy individuals and/or corporations) will be able to afford running a high-powered node. Data centers will be the ones with the most advantage on the Blockchain, leaving the "little guy" (average person) out of the system. That's why scaling Bitcoin is a very delicate subject. Hopefully, developers will find a way to scale Bitcoin without sacrificing decentralization. The Lightning Network is flawed by design, and utterly-centralized. We can't predict the future, so lets hope for the best. |
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