the end result does not determine whether there was a crash or bubble. all the things that went on in the middle of beginning and end will determine if there was a crash or a bubble. and as others mentioned there was both a bubble and a crash in bitcoin. there was also lots of FUD like always and also there will be a big rise after this dip is over, like always! This is not a crash its called volatility and we are already up for yearly. So this is called correction.
Yes we lose power cause of authorities but bitcoin will gain losses soon. its not bubble for sure.
volatility and correction are factors that apply to a much less price change than this. we had a little less than 70% drop. that is neither volatility nor correction. |
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Keeping bitcoin is one of the things that is of most interest to this point, we can imagine keeping bitcoin like keeping gold or even diamonds, so keeping bitcoins gives us the best return. Here are some reasons why we need bitcoin: + Bitcoin is the only, most scarce and most wanted in the world! + The average person in the world only owns 0.03 btc per person! + Bitcoin may be more valuable than gold and diamonds because of its scarcity. + Transnational and transnational remittances also contribute to why keep bitcoin. + Lastly, the reason I keep bitcoin is to use bitcoin to invest in cryptographic coin that yields extremely profitable through ICO!  A good article, the purchase and hold bitcoin is likely to be the hottest hit at the moment as the bitcoin tends to drop sharply for a number of reasons: + China continues to bail the Crypto Currency for the second time since August, and the btc bid of $ 5,000 is possible. + One of the biggest markets in the world that owns Bitcoin like China, South Korea, and Japan are preparing to enter the Lunar New Year, so selling psychologically very large. I think bitcoin price increases will be a bit late, and keeping a good bitcoin is best now. the thing about China banning bitcoin has been happening for years as far as I can tell. I have seen the same thing even back in 2012 and each time they happen after a drop has started to increase the fear in the market and force newbies into selling their coins out of panic. otherwise China has never banned bitcoin and even if they finally do it after 1000 news saying they did, then nothing will change for bitcoin. simply because a decentralized currency like bitcoin should not even care what the government says about it! |
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if you are looking at this chart: https://blockchain.info/charts/n-unique-addressesit is showing number of unique addresses that are used per day not the total of them which is why it goes up and down instead of always going up. and that is because each day there is different number of transactions made by thousands of different people from different wallets. so some days there are a little more and some days are a little less new (unique) addresses used. if you want the total, then you can click on the ALL Time and then export the CSV file and probably get the total from that file. here is the link: https://api.blockchain.info/charts/n-unique-addresses?timespan=all&format=csvit seems the answer is 283,562,620 if I am not mistaken and blockchain.info can be trusted! |
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the link OP gave doesn't seem to be that good a website to want to follow for bitcoin news and stuff like that but regarding the price recovery I have to say it was bound to happen. we are not yet back on track with bitcoin where it really belongs meaning somewhere at $15000 but it certainly shows that the potential of bitcoin is not lost on everyone even though they have been furiously dumping their coins in the past couple of days.
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that is mostly speculation and only partly might be true as miners may not let the drop go on by doing some manipulation or something like that. but generally how much it costs to mine depends on the difficulty and nothing else. it is actually pretty simple if you look at it like that. imagine if price was $100 and mining bitcoin could give you $110. assuming you have no cost, it barely is profit. now imagine if price was $100 and mining bitcoin could give you $500 profit. what would have happened was that a LOT of people saw this profit and started mining until difficulty went up and profit became $110 again. and guess what, difficulty has been rising as the price rose last year from $1000 to $20000 which shows a LOT of people saw that profit and started mining. the hashrate grow: https://blockchain.info/charts/hash-ratehttps://blockchain.info/charts/difficulty |
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I think people are jumping the gun already and using Lightning Network. Arduous testing should still be conducted before it can be adopted widely.
believe it or not a lot of people are interested in the technology itself and want to get involved with it as soon as possible so they start running a Lightning node and have fun with it. you don't have to do it with a very large amount of bitcoin. you can put a smaller amount in and test things. and you may even earn some satoshis as the fees! |
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Because 18% of people are using a credit card to buy bitcoin. (I am referring to credit cards with borrowed money, not debit cards) and this is not negligible. Another thing is the fact it happens suddenly without warning while people were using this method for quite some time now. It's not the countries that are baning but the banks and credits cards. The company Discover also started to block the payments to buy cryptos that still does not explain why these companies are preventing this usage, I assume that is a very good revenue for them. out of that 18% a lot of them will surely pay it back and I assume that there is a penalty for not paying back or late payment which is another revenue for these companies which will now be get paid even more like loan sharks! |
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Yes It does affect because as the price of cryptocurrencies fall many gamblers online started to lessen their bet since the value is lower. Compared to previous months where online gambling is very crowded where gamblers are actively gambling online.
I think your talking opposite way because if bitcoin prices go down you can see many people who are buying bitcoins to gamble will bet more compared to when prices were high. If Bitcoin prices go very high then most people may think twice to spend money to buy and gamble. But people who have got old stock may be different and they won't look at the market price to gamble. this is only true if the price is already low and staying there, not when it is dropping and on the way down there. during the drops or even rises people tend to go back to trading and being more active in the market itself specially if it is dropping so they pull out of any other activity such as gambling. |
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* divert the view from BITCOIN. According to Willemien Kets, Associate Professor of the Department of Economics University of Oxford, the rise and fall of Bitcoin's value makes this digital currency so attractive. according to him, examining the value of cryptocurrency is continuously very unproductive.
if you are a trader then you need to be aware of the market at all times if you want to continue trading. this means checking the price or having an "eye" on it so to speak. this can be you checking to see what the price is or it can be placing alerts, or using things such as stop loss orders. saying "don't check the price because it is dropping" is just dumb! if you are not a trader and have just made an investment in a proper dip and not at the peak of the bubble then yeah don't check the price every 2 minutes but still be aware of the general movement. * principle hold. a strategy to hold Bitcoin by moving assets to the Bitcoin purse to keep it safe. when people sell and buy Bitcoin in a cycle, they miss the big picture of cryptocurrency and the blockchain technology itself.
the same thing applies here too. there is a difference between those who want to keep on trading and increase their profit and those who just bought bitcoin at some point, lets say at $2000 last year and want it as a long term investment that appreciates after 10 years. |
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The founders of digital coins know that stories about exchanges being hacked damage their image.
For cryptocurrencies to be commonly used by the general public they must gain trust. The same trust that people have in the bank coins and notes they use to buy goods and services.
exchanges are used by traders not by the "general public" so why should they even care about the security of these exchanges? also what does this have anything to do with "security of c ryptocurrencies" which you put into your title here?!!! it seems like nobody else read the comment itself and mainly are focusing on the title! a cryptocurrency is only safe as long as its code is safe and its network is safe from attacks and a couple of other things. but its safely has nothing to do with the safety of the third party services that are using it. |
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I see it rising, but slower this time, there are lot of people burned from investing at 10k prices and higher. So I guess we gonna go slower this time to 20k. I believe we gonna see the boom in May and June like last year.
it is not because they are burned it is slow because people are still uncertain about this being a rise or just a trap. and it will not be clear until we can see no more big drops for a while and a consistent and slow rise up above some major resistances. if the rise continues , then it will speed up soon and surely if/when it breaks $10k the rise will be super fast and big because of the current slowness and uncertainty. |
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How do you mean doing better in dollar terms, are you saying there are more losses in BTC than ETH? But they are still losing equivalent, comparatively huge value percentages.
yes. ethereum has lost less percentage in dollar terms than bitcoin. that's mainly because it has a lot of its own dollar markets these days. most alts are directly tied to bitcoin still. a drop from $1430 down to $560 is a 61% drop. considering ETH is heavily manipulated, has been advertised to death in the past week as a better investment than bitcoin (LOL), also has a smaller price I'd say it performed horribly in terms of fiat. bitcoin has been under constant attack for the same period and it went from $19,600 down to $6000 which is a 68% drop! despite that 7% I still say ETH did horrible. |
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Now you see how volatile this market is. I wasn't predicting that LTC will get to $20. I was saying that I've seen MANY 90% drops from ATH in BTC and LTC. Those that can withstand such a drop without flinching are the ones with lambos eventually. The others pay for these lambos. https://t.co/ozcR11N68oa whale shorting bitcoin and dumping/crashing the market and then buys the absolute bottom from the newbie panic sellers is the one with the lambos not the kid with less than $100 invested in bitcoin which has nightmares when price goes up and down  and it is just different strategies to hold and not flinch or not sell and buy back at the bottom. you can't really say which one is more successful. the person who is buying and holding in cold storage is taking less risk but the one trading is bigger risks while the exchange can run away with all he has and he goes down to 0. Words from Charlie, the man who sold all of his cryptos last December. Also, he created LTC.
I doubt if he has sold as much as he claims he did. |
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whenever that is a drop it becomes a good time to buy bitcoin, buy the dip and all. and whenever there is a huge drop it becomes an awesome time to buy bitcoin because after a big drop there is no way to go but up.
but remember that the risk is still there. the price may still fall below want you have bought. and if you don't buy there is still a risk that price goes a lot higher and you be left behind. if you accept these risks then invest.
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whether McAfee is a nutter or not, he has been using bitcoin to make a lot of money so far. what I have seen from past few months is that he first started increasing his fame by talking positively about bitcoin during one of the biggest rallies bitcoin had and make his "predictions" so he became the topic of all the crypto communities.
then he used that fame to advertise shitcoins, or practically run a pump and dump group where he tells people what is "good" where in fact he is telling them what to buy. as far as I know he did that a couple of times already and made a good amount of profit.
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Yes, you're correct. Maybe they forgot to update weekly withdrawal fee.
But if they don't update by next weekend it is better either disable weekly withdrawal or you manually withdraw all your coins. Otherwise, you may lose some coins for paying extra transaction fees in weekly withdrawal option.
The other withdrawal fees are dynamic and the weekly is static. Do I remember correctly that they said they were going to remove the weekly withdrawal feature altogether? weekly payments are basically a bigger batch of transactions paying a lot more users than the other withdrawal options. and it does it on the weekends which used to be less traffic on bitcoin network. in fact many services used weekends to batch transactions and get rid of a lot of dust with low fees. for example these are latest transactions from the STATS page: https://blockchain.info/tx/2b9dbded8bf22643fb10f1a5d6b2db06a7f8e967c47b405ac93169e0e989b01dhttps://blockchain.info/tx/395b96920fd8b3168ddb05a097d45e7bff9394dc9f6dbe83fbf120791c5ab77ethey are basically paying 1 person at a time with instant withdrawals. |
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fun fact about withdrawal: since bitcoin transaction fees have dropped significantly for the past 2+ weeks it no longer costs as much to make a transaction. for the past couple of days I have been checking the website withdrawal fees and it seems like it is a lot cheaper to make an instant withdrawal instead of weekly automatic one  current rates: Automatic (weekly): 3000 satoshi Instant (~15 Minutes): 821 satoshi Slow (6-24 Hours): 193 satoshi |
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all of it is true but the main reason in my opinion still is the rise itself. it was too big! and because of that people are panicking and the groundwork for this panic was set in place all through last year even when price was $1000 they were calling bitcoin a big bubble and compared it with tulips, .com,... and if you tell people (who are mostly looking for a cult to follow) the same thing over and over again through different channels they finally start believing it.
as a result we have a panic sell on our hands and because of that everyone changed their strategies from buying the dips to shorting the shit out of bitcoin which means more drops.
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