Llew Claasen: Why the Rest of 2016 Will Bring Even More Growth to Bitcoin

[OmegaStarScream]

For those who don't know Llew Claasen is the Executive director at the Bitcoin Foundation even though I still don't understand what is the Bitcoin foundation job exactly ... 

Despite Bitcoin having a relatively strong year, the Executive Director of the Bitcoin Foundation believes the outlook of the top digital currency is even better in the remaining 60 days of 2016, especially post-Nov. 15.

According to him :

“The release of Segwit in Bitcoin Core 0.13.1 is a much awaited and positive development, notwithstanding continuing disagreement about on-chain scaling. I think the year will end on a very positive note for the future of Bitcoin post-Nov. 15. This is also notwithstanding the more than 60 percent increase in value of BTC this year so far - far better than fiat currencies.”

CT : https://cointelegraph.com/news/llew-claasen-why-the-rest-of-2016-will-bring-even-more-growth-to-bitcoin-blockchain-focus-being-blessing

[franky1]

the flag waving period of segwit begins november 15th.. but that does not mean anything changes on november 15th.

it will take a while to obtain 95% and i guarantee it wont happen in just 2 weeks. because although core are releasing code, mining pools prefer to use their own codebase that they trust due to the fact that mining requires different things that a normal node does not offer, so they will only flag when they are confident and running something that does what they want it to do.

yea core fanboys will say that code has been available for months. but pools will only work with the up-to-date variables. not the old variables of spring/summer 2016.

so expect activation in early 2017 once miners ar confident that their code does what it is suppose to.(still not that long away, so relax fanboys!!)

then its upto nodes to move their funds out of legacy keypairs and into segwit acceptable HD seed keypairs to then be able to use them. this is also a headache for some services/merchants having to change customers deposit addresses, move reserves and audit it all to be sure nothing gets forgot.. so expect it to be a slow adoption after activation.. again expect this to start being noticeable in about spring/summer 2017.

all i can see from this article is some PR guy waving his meaningless name badge, while exaggerating how soon bitcoin will change purely to try drumming up some FIAT!! price speculation.

the article has no bases on talking about bitcoins real usability and growth of bitcoin tech. especially not using any rational timescales.
in short
dont expect anything to happen to usability of bitcoin in 2016..
just treat the article as some speculative market trading waffle to try pushing the price forward without actually giving any rational reason for the price to move forward due to real uses of bitcoin in 2016

[Shiroslullaby]

Personally I was really excited about the end of the year and was sure that price would rise to the $750-800 range.
But all it took was a news story with no sources saying that China may be looking at regulating Bitcoin
and the price dropped 8%.

I wonder if a similar story about regulation in the US or Europe would have such a strong effect.

[thejaytiesto]

2016 has only 2 months left, but big things can happen, starting by the election day which can potentially disturb the whole world , markets are unpredictable and that always benefits bitcoin.

Segwit will be enabled by december or early 2018, only idiots aren't supporting it at this point.

[franky1]

Personally I was really excited about the end of the year and was sure that price would rise to the $750-800 range.
But all it took was a news story with no sources saying that China may be looking at regulating Bitcoin
and the price dropped 8%.

I wonder if a similar story about regulation in the US or Europe would have such a strong effect.

if all you care about is the fiat price.
then dont expect pure good news to speculate the price up. accept there will be bad news to speculate the price down. afterall those that sold on a high will want to shout some negative news to bring the price down to then grab some cheaper coins again.
so expect bad news and good news will always follow one another.. thats how speculation works

as for the 20% up in recent months and 9% drop in recent days. thats normal. but dont attribute it to china. after all, china only amounts to just 150 nodes and a hand full of people.

yes western bad news has a bigger impact on speculation due to there being more speculators involved in the west, but overall its just speculative temporary drama so expect ups and downs.

if you want stable increasing rises. just sit back and let the deflationary nature do its thing. which is more related to hashing power costs and the reward of such activity. yes its slower and more boring. but its where the real value lays. (the resistance points that stop the price falling all the way to zero)

[~Bitcoin~]

Personally I was really excited about the end of the year and was sure that price would rise to the $750-800 range.
But all it took was a news story with no sources saying that China may be looking at regulating Bitcoin
and the price dropped 8%.

I wonder if a similar story about regulation in the US or Europe would have such a strong effect.

That news was not a reality actually haven't seen any official statement about this type of regulation going to act on china. I think whole news was just another FUD about china banning bitcoin which we have heard before also which have also created similar panic before also.

Those 8% drop was from weak hands and whales/big players are still supporting price over $700. I think another price rally before end of this year is likely within next few weeks.

[Milkduds]

Will have to keep a eye on the price in the next four days to see if there is any sudden gains to tie to the news.
So far I was wrong on bitcoin speculation because I presumed a drop would come now till Christmas with college kids coming home needing funds for Christmas cheer.
Looks like the price jump may have kept a few more people speculating on more of a increase from now till then or I totally have overestimated the Christmas drop off.

Bitcoin seems to be on a positive track,hopefully it can stay out of trouble for 3-5 months to see some real honest gains and foundation building.

[xdrpx]

We need to consider Bitcoins growth not just by it's price, but mainly by it's widespread acceptance and capacity to handle it. Llew Claasen is considering the capacity increase factor into picture by bringing into discussion about SegWits inclusion in Bitcoin Core, but at the same time I feel there shouldn't be too much emphasis given to the price by checking it's price growth in a short span of time, cause there's possibility of it falling faster as well. I'm sure there's a lot of involvement by Chinese investors, the yuan falling, the Bitcoin halving, the capacity increase for blocks using SegWit's soft fork and devaluation of currencies of Mexico, venezuela's investment in Bitcoins and other factors all leading to Bitcoins current price rise, but let us also consider presidential elections and regulations and hope that Bitcoin is not regulated or restricted from purchase or sale. Primary focus should be on mass acceptance and decentralization of mining power and nodes.

[eternalgloom]

We need to consider Bitcoins growth not just by it's price, but mainly by it's widespread acceptance and capacity to handle it. Llew Claasen is considering the capacity increase factor into picture by bringing into discussion about SegWits inclusion in Bitcoin Core, but at the same time I feel there shouldn't be too much emphasis given to the price by checking it's price growth in a short span of time, cause there's possibility of it falling faster as well. I'm sure there's a lot of involvement by Chinese investors, the yuan falling, the Bitcoin halving, the capacity increase for blocks using SegWit's soft fork and devaluation of currencies of Mexico, venezuela's investment in Bitcoins and other factors all leading to Bitcoins current price rise, but let us also consider presidential elections and regulations and hope that Bitcoin is not regulated or restricted from purchase or sale. Primary focus should be on mass acceptance and decentralization of mining power and nodes.

I feel that you've hit an important point, that the price is not the only thing to consider when looking at the growth of Bitcoin.
I'd like to her some more good news regarding vendor adoption, like Amazon or any other big player.

News like that would also almost certainly drive prices up.

[Milkduds]

Sadly price reflects growth as it draws more people willing to speculate on the up/down nature of bitcoin. We are in a phase where we need to decide if we want wild swings for profit or
a fixed price to attract stability. Right now we attract more people for the swing,which equates to the fluctuation of the price. So right now it is mostly about the price for adoption and branching of new people exploring bitcoin.
With so much turbulence in the world with political shifts it is for sure hard to grasp the reason for movement and I think often speculation is off base when it points to one particular aspect pushing the price.

Always hoping for big web based companies to help drive bitcoin but I believe the big push will have to happen off line in a setting that catches peoples attention.

[xuan87]

We need to consider Bitcoins growth not just by it's price, but mainly by it's widespread acceptance and capacity to handle it. Llew Claasen is considering the capacity increase factor into picture by bringing into discussion about SegWits inclusion in Bitcoin Core, but at the same time I feel there shouldn't be too much emphasis given to the price by checking it's price growth in a short span of time, cause there's possibility of it falling faster as well. I'm sure there's a lot of involvement by Chinese investors, the yuan falling, the Bitcoin halving, the capacity increase for blocks using SegWit's soft fork and devaluation of currencies of Mexico, venezuela's investment in Bitcoins and other factors all leading to Bitcoins current price rise, but let us also consider presidential elections and regulations and hope that Bitcoin is not regulated or restricted from purchase or sale. Primary focus should be on mass acceptance and decentralization of mining power and nodes.

i do feel agree, the bitcoin price is important and most of the user is looking for profit, but i think the most important now is bitcoin be able to be implemented in various business and how to attract big company to join into bitcoin world, i believe within the influence of big company, automatically it will bring more user to bitcoin and it will bring bitcoin to be more valuable, but i do have a high expectation and optimistic that bitcoin will become better and better in the future

[Vinz24]

The rest of 2016 is very positive for the bitcoin because more company is investing into it. Even if there is a negative news about bitcoin, I think it can recover it quickly.

[7788bitcoin]

I guess the chance of Segwit activation in 2016 might be a be low- I hope I am wrong. There is nothing much happening, so perhaps the MU2 launch is the next event to look out for? However, bitcoin usually perform very well in the last two months of each year...

[amacar2]

I guess the chance of Segwit activation in 2016 might be a be low- I hope I am wrong. There is nothing much happening, so perhaps the MU2 launch is the next event to look out for? However, bitcoin usually perform very well in the last two months of each year...

Even after segwit get activated by end of 2016 it may need few more months to show effect on bitcoin price although MU2 launch may not have that much quick reaction effect on price during launch time but it may help bitcoin to grow if what kim have claimed is true. 2017 can be great if all goes well and as speculated.

[Kprawn]

Llew Claasen has to be optimistic about Bitcoin, after all, he is the Executive director of the Bitcoin Foundation. { Not that it counts for

anything} I have to agree with him, if nothing bad happens... like another big exchange getting hacked, we are going to see some good

returns on our investments. Xmas and Black Friday are around the corner, and if the PR for these events are done correctly, { good

specials for Bitcoin payments } then we might see the best Bitcoin price, since $1000+ 

[bitbunnny]

Let's wait and see. These predictions are optimistic and so far the are no obstacles for the price to conitinue the way up. 2016 was a very good year for Bitcoin, besides some smaller troubles, and it could be even better.
But somehow I don't think that price will touch 1000$ by the end of the year, for that we should have a little bit more patience.

[piloder]

Still there is some days left for this year so few more good events/news may come out regarding bitcoin however to see effect on price, i think next year will be great year for bitcoin.

[densuj]

For those who don't know Llew Claasen is the Executive director at the Bitcoin Foundation even though I still don't understand what is the Bitcoin foundation job exactly ... 

Despite Bitcoin having a relatively strong year, the Executive Director of the Bitcoin Foundation believes the outlook of the top digital currency is even better in the remaining 60 days of 2016, especially post-Nov. 15.

According to him :

“The release of Segwit in Bitcoin Core 0.13.1 is a much awaited and positive development, notwithstanding continuing disagreement about on-chain scaling. I think the year will end on a very positive note for the future of Bitcoin post-Nov. 15. This is also notwithstanding the more than 60 percent increase in value of BTC this year so far - far better than fiat currencies.”

CT : https://cointelegraph.com/news/llew-claasen-why-the-rest-of-2016-will-bring-even-more-growth-to-bitcoin-blockchain-focus-being-blessing

It is great news and innovation with the release of segwit in bitcoin core and i think it will make bitcoin's price increase in my prediction because it is positive news for bitcoin's growing, although my analysis fundamental of bitcoins can be true and false.

[Kakmakr]

A week ago I Skyped with a friend of mine in Cape Town, where Llew Claasen originated from. He says there is nothing going on in Cape Town that would make people exited about Bitcoin. He has not seen any < Bitcoin Accepted here > merchants and it is supposed to be a tourist hub for international tourist.

If Llew Claasen has done nothing for his hometown to put them on the Bitcoin map, what would he contribute to the rest of us?

[clickerz]

2016 has only 2 months left, but big things can happen, starting by the election day which can potentially disturb the whole world , markets are unpredictable and that always benefits bitcoin.

Segwit will be enabled by december or early 2018, only idiots aren't supporting it at this point.

Many good news for bitcoin and I do beleive that the big impact on bitcoin probably early 2017 and after. So far many company launching next year and some of ICO's this year will be fully implemented next year. Good bitcoin years ahead.