Not all prediction is good especially if he doesn't have any skills and analysis.
Are you believe he will eat his dick if he made a mistake? Lol I wish not.
McAfee has never made any predictions ever! what he does is that he makes an assessment of the general mood of the market then makes a completely random and bullshit statement about the price according to that general mood. for example during 2017 when the mood was all positive thanks to constant price rises he said the bullshit about $1 million and now that the mood is in exact opposite he says the opposite bullshit about bitcoin being a shitcoin! then he uses this attention to scam people with the shitcoin pump and dumps and ICO scams. |
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I think it is important to acknowledge this up front: Electricity usage does not cause climate change.
I don't think so. We should investigate which energy source we use when we are mining Bitcoin or any other cryptocurrencies. Some energy sources create pollution. Not just air but water, flora, soil... etc. Therefore, we can not say that mining does not affect climate change. But if clean energy sources are used and this is sufficient, then what you say is correct. the problem is that bitcoin can not change that. for example if you were a bitcoin miner with a big mining farm you can't force your electric company to use clean energies instead of whatever they are using right now. you must accept whatever they offer you or not mine at all. and that is what all miners do. |
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there is not such thing as a "4 Years Cycle". this is a term that the same so called "analysts" came up with to appear as experts and other newbies are contradicting them to appear experts just like the same newbie group.
the fact is that bitcoin is on the rise, whenever there is a massive bubble we end up seeing a long downtime which ended about 1.5 years ago when price reached $3200 and price has been on the rise ever since.
that doesn't mean we can't see a drop here and there and some FUD that postpones the rise for a little while though.
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it was all an unreasonable scare due to all the other markets in all different countries crashing hard. then of course we always have a lot of whale accumulators ready to take advantage and dump the price as much as they can which led to the weird price drop.
the good news (that nobody seems to be talking about) is that all these others markets are still dumping. US stock market had another dismal day, EU stock market is also following,.... and meanwhile bitcoin price reached its bottom last week and now it is starting to slowly go back up. ($6800 right now).
this proves how irrelevant all the news we kept hearing during the drop were.
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one could put trust in miners
what exactly do you mean by "put trust in miners" here? Bitcoin could be doomed if a country decides that Bitcoin is a threat to national security and is willing to spend whatever it takes to dominate the hash rate and destroy Bitcoin via double-spends and DOS.
it may be possible to cause some short term drama and maybe some small damage to bitcoin but it is extremely hard for a 51% attack to destroy bitcoin. such attacks must be accompanied by scamming of a large number of bitcoin users out of a very large sum of money to be able to damage bitcoin. the scenario you describe requires that country to start trading with other bitcoin users and then scams them by reversing the transaction! the cost of such scam is too huge which includes legal problems for that government. otherwise just finding the same blocks that were mined and ending up with a longer chain could not "destroy" bitcoin. |
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this subject has been brought up hundreds of time, nearly every week in some months. and there is always one obvious problem that is overlooked, bitcoin is not consuming fuel and is not producing pollutions, the electric companies are. bitcoin is just the consumer of the electricity they produce. if you want to complain about climate change, pollution,... you should go to the source that is electric companies and complain there.
now here is the interesting part, a large portion of bitcoin's electricity comes from clean sources such as renewable energies!
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it is kind of cool but weird at the same time in my opinion. it is cool that they are "archiving" all these popular projects but on the other hand when a project is already popular it is shared by many people, specially a project that is for a decentralized system such as bitcoin. archiving it on a centralized database is a bit weird...
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unless you can find a logical explanation (based on your theory of course) about why price fell down from $20000 to $3200 (-84%) in 2018 or from $1200 to $150 (-87.5%) in 2014 or all the other ridiculously big drops that we had in the past, you don't have a "theory".
in all of these "cycles" the cost of mining was a lot higher than the bottom of the price that we reached but it still got there. of course the cost was never near the peak but it was at least 70% of the peak but price fell a lot lower than that.
so how do you explain that?
and here is another thing to think about, if "the bottom is set by miners" then why so many of them leave each time price drops?
you can't have a rule if it has a lot of exceptions, that is no longer a rule it is a coincidence.
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Its a legitimate thing to raise to the community. There's been a rather large movement of coins, which could influence the market.
then why isn't this so called "legitimate thing" isn't raised every couple of days to the community? it is not like large coins moving is rare thing! but we only hear about it whenever there is a drop or any kind of downtime in the market. here is a list of a bunch of them in the past 20 days ranging from $300 million to $700 millionhttps://blockchair.com/bitcoin/transactions?q=block_id(620890..)&s=output_total(desc)#2020-03-11 22:57 89,684.30611472
2020-03-11 22:57 89,381.30606936
2020-03-11 22:57 87,519.71339142
2020-03-11 22:57 87,318.71334606
2020-03-20 03:45 87,012.71313534
2020-03-11 22:57 57,706.31641835
2020-03-11 22:57 57,406.31637299
2020-03-11 22:57 57,101.31632763
2020-03-11 22:57 56,793.31628227
2020-03-11 22:57 56,484.31623691
2020-03-12 14:10 56,376.31613393
2020-03-17 10:40 51,145.92305954
2020-03-22 13:59 51,145.92289154
2020-03-22 13:59 50,945.92272354
2020-03-22 13:59 50,745.92255554
2020-03-30 11:26 50,643.44057139
2020-03-31 14:24 50,643.44048739
2020-03-31 14:24 50,641.82207539
2020-03-22 13:59 50,545.92242154
2020-03-24 01:54 50,545.92228714
2020-03-24 01:54 50,445.92257679
2020-03-24 01:54 50,345.92244239
2020-03-24 01:54 50,245.92230799
2020-03-24 01:54 50,145.92217359
2020-03-24 01:54 50,045.92206639
2020-03-30 10:38 50,045.92201599
and here is another list from last month (February) that is from $500 million to $1.7 billionhttps://blockchair.com/bitcoin/transactions?q=block_id(616000..620160)&s=output_total(desc)#2020-02-18 13:05 182,500.99963419 1,774,510,000.00
2020-02-25 21:41 111,857.24571944 1,081,930,000.00
2020-02-07 03:59 85,947.12695460 837,524,000.00
2020-02-07 04:23 85,946.12690907 837,514,000.00
2020-02-07 04:41 85,945.12686354 837,504,000.00
2020-02-10 22:23 63,633.89483767 646,335,000.00
2020-02-07 05:17 61,977.12681801 603,945,000.00
2020-02-20 20:38 61,801.89354767 594,882,000.00
2020-02-06 04:51 50,052.16671336 479,799,000.00
2020-02-06 04:51 49,952.16666296 478,840,000.00
2020-02-06 05:00 49,852.16661256 477,882,000.00
2020-02-06 05:00 49,752.16656216 476,923,000.00
2020-02-06 05:00 49,652.16651176 475,965,000.00
2020-02-06 05:00 49,552.16649300 475,006,000.00
2020-02-16 09:45 49,552.16640900 489,540,000.00
2020-02-16 09:45 49,352.16732580 487,564,000.00
2020-02-16 09:45 49,152.16724180 485,588,000.00
2020-02-16 09:45 48,952.16717480 483,612,000.00
2020-02-17 02:51 48,952.16714120 486,764,000.00
2020-02-17 02:51 48,852.16711447 485,770,000.00
2020-02-17 02:51 48,752.16703047 484,775,000.00
2020-02-17 02:51 48,652.16694647 483,781,000.00
2020-02-17 02:51 48,552.16686247 482,787,000.00
2020-02-17 02:51 48,452.16677847 481,792,000.00
thanks to blockchain.com i can post these all day long for each month and as you can see it is NOT AT ALL uncommon to see large coins move like this. so let me ask you this, why people like OP never "warn" others of these transactions every couple of days specially in Feb. that price was rising? you can't just choose to consider one transaction to be "dumpy" and scary and the ignore the others. |
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be careful with your open trades people, 991.3062 BTC (worth of 6M usd) just transferred to unknown wallet
this is exactly why i advise newbies to stay away from scam websites such as those who "alert" you about coin movements! they only "alert" you when it pleases their purposes otherwise all the other hundreds of transactions that are just as big if not bigger are going to be ignored by them! besides how do you know that some whale didn't just buy 991.3062 BTC because it is currently a huge discount on bitcoin sales? |
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Thank you for the feedback and concern. I hope the introduction of fact-checkers and verifiers will be a solution to the potential problems we're facing these days.
i guess that could help improve the results by a lot. maybe some decentralized ranking or reputation system could be in place where these "fact checkers" could gain more rank so their votes could have more meaning compared to others. hope to see it in action soon. |
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Most people thought that after the virus outbreak, money would go into Bitcoins and other cryptocurrencies
money may go into bitcoin but it almost never goes into altcoins. the bitcoin investors sometimes also buy altcoins to make profit on whatever amount of bitcoin they already have. as Bitcoin is considered to be the only ‘’safe-haven’’ asset at the time of crisis.
this is wrong. there are other "safe havens" and bitcoin may actually be at the bottom of that list because of its volatility and lack of mass adoption. But Bitcoin collapsed by 15% after the virus outbreak, thereby defying people’s expectations.
first of all that is not a collapse, a collapse would be dropping down to $100. that is not even big crash. secondly that doesn't change anything about whether or not bitcoin is "safe haven". if anything it proves that bitcoin price is like always volatile. |
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it is an interesting concept in my opinion but i have a concern about the validity of its result. the manipulation and paid voting was already mentioned but that was not my concern. mine is about people falling for the false information and believing it. for example even today a lot of people think that bitcoin is banned in some countries that have never banned it actually like China or India. or like the news these blockchain analyzers keep releasing with fake statistics about illegal bitcoin usages.
when a news comes out like that where a large group of people believe it they may vote on validity of it and make some others believe it too because of that rating.
you see the biggest problem is figuring out what news is fake and which one isn't and that is not something regular users can do at least not without spending a lot of time researching on the internet. and i don't know that many people who would bother putting that kind of effort in.
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it looks like that they are mainly categorizing the exchange hacks under "scams" which is also why the total value of it is so huge. if you look at the spikes on that chart you can also see that they coincide with big exchange hacks. one is in 2017 which i forgot what exchange was hacked but a lot of them had lots of issues like that and the other is in 2019 when Binance was hacked around May.
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the most important thing that you need to be able to explain is "what problem does your creation solve or what product are you going to return" and "why should people pay you to give them some token that they can not use anywhere". the problem with all these "tokens" in the past couple of years that phenomena existed is that they solve nothing and they have no reason to exist. The most important part: BE COMPLETELY HONEST AND TRANSPARENT.
Don't lie about your project being DeCenTraLiZeD if it's not(which I'm 99.9% sure is the case). The last thing we want is another scummy project as if we didn't have enough of those already.
tokens and coins are different. a coin can have a stand alone blockchain and can be decentralized. a token on the other hand depends on another blockchain (a token platform) to exist and function so it can never be fully decentralized. additionally since most tokens are created on centralized platforms such as ethereum they are never decentralized. |
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if bitcoin was useless like dogecoin or all other altcoins that keep getting dumped and go down in the lists then yeah it would have disappeared already. but the problem is that you are comparing shitcoins' behavior with bitcoin and expect bitcoin to act like them which doesn't make any sense. There's was a moment when Ethereum was close to flipping Bitcoin and (likely only temporarily) overtaking it as #1 coin.
there has never been such a moment. ethereum is as it has always been a shitcoin. it got pumped a lot like many other shitcoins and the pumpers started a social media campaign to fool newbies into thinking "flippening" is a thing  |
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No offense but who is dumb enough to buy medicine online especially from an unknown source? Using people's desperation to generate money is the lowest, one can go.
there was a rumor bullshit recently saying a specific alcohol based hand sanitizer would kill coronavirus if you drink it. suffice it to say that it has killed and blinded a bunch of idiots so far. |
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bitcoin has been around for 11+ years and it is being adopted every day. but the problem you are looking for concerns the price, from what i gather. and that problem stems from the fact that the exchanges are still not big enough to prevent manipulation. and with all these margin traders, futures markets,... it becomes super profitable to manipulate the price like the recent drop and make a ton of money from that panic sell.
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Snip Hell no! We have +5,000 different cryptocurrencies and we certainly don't need another one. What are we going to use it for that we can't do with Bitcoin? Or if for some reason you don't want to use Bitcoin then another existing altcoin. I doubt you will find much support for your suggestion here. you can't really call copycat garbage that has no usages "cryptocurrency". we have barely 5 to 10 real cryptocurrencies if i am being generous and we do need a new one but only if the new one adds something new to this world not rehash the same ideas again for a quick money grab scheme. |
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all the panic that we had over that past week has only postponed the big rallies of 2020 that are inevitable. like always the panic was only a short lived one while the weak hands made it bigger than it could have been predicted.
you don't need to be an "analyst" to see the potential of bitcoin and the way it has been growing in adoption this past 2 months in multiple countries around the world as they officially accepted it as a legal currency.
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