$3000+ on sight for this year after BUcoin disaster

[thejaytiesto]

The fears of a hard fork were bringing clouds on the bitcoin price, with some people planning to short or go back to fiat, but those fears are now cleared after BUcoin collapsed. Now Core can keep doing a good job keeping our BTC safe, the price will keep organically growing, and let's hope that miners start being reasonable after this and adopt segwit, but with or without segwit price will keep going up because bitcoin is still insanely undervalued.

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[york780]

But dont we forget why Segwit and BU are there in the first place? Because Core isnt good enough right? And when the possible improvements like BU fail bigtime it isnt really positve?

[NUFCrichard]

but with or without segwit price will keep going up because bitcoin is still insanely undervalued.

How do you come to this conclusion? It is basically impossible to value bitcoin, so it could be massively overvalued, or undervalued.
I don't really see too much to suggest that it is used often enough to be worth $20billion or more.

I don't know a single other person who uses bitcoin, and when I try to use Bitcoin, I am usually disappointed.

[manselr]

But dont we forget why Segwit and BU are there in the first place? Because Core isnt good enough right? And when the possible improvements like BU fail bigtime it isnt really positve?

Core is good enough: Price keeps going up under Core dominance and our coins are safe and the network doesn't break, so yes it's positive that BU has failed.

Segwit is good enough, it's just miners trolling by not activating it, their fault not Core's.

[gentlemand]

I don't know a single other person who uses bitcoin, and when I try to use Bitcoin, I am usually disappointed.

What is disappointing about it? Either it works or it doesn't. And that fact that it has arrived at this valuation and it's still a relative obscurity means there's a vast amount of headroom left. Or it'll flop fatally.

[alyssa85]

The fears of a hard fork were bringing clouds on the bitcoin price, with some people planning to short or go back to fiat, but those fears are now cleared after BUcoin collapsed. Now Core can keep doing a good job keeping our BTC safe, the price will keep organically growing, and let's hope that miners start being reasonable after this and adopt segwit, but with or without segwit price will keep going up because bitcoin is still insanely undervalued.

You are being overly focused on internal issues.

People buy bitcoin for economic reasons. At present the Fed is raising interest rates - they raised in Dec 2016 and they just raised today. That means a stronger dollar - and that usually means other currencies drop against the dollar. Nothing to do with Core v BU at all!

[European Central Bank]

The fears of a hard fork were bringing clouds on the bitcoin price, with some people planning to short or go back to fiat,

that sounds like traders, not users.

how many traders are there versus users? how many people pay attention to reddit and here? maybe more than a few don't have the slightest idea what's going on.

it's always been a bluff and it's gonna continue being one. maybe that's enough to continue damaging confidence but i think it's gonna pan out like the fear of the chinese market. the forkers will prove to be toothless eventually and be ignored no matter what they do.

[Pab]

The fears of a hard fork were bringing clouds on the bitcoin price, with some people planning to short or go back to fiat, but those fears are now cleared after BUcoin collapsed. Now Core can keep doing a good job keeping our BTC safe, the price will keep organically growing, and let's hope that miners start being reasonable after this and adopt segwit, but with or without segwit price will keep going up because bitcoin is still insanely undervalued.

You are being overly focused on internal issues.

People buy bitcoin for economic reasons. At present the Fed is raising interest rates - they raised in Dec 2016 and they just raised today. That means a stronger dollar - and that usually means other currencies drop against the dollar. Nothing to do with Core v BU at all!

FED has very hawkish communicate,thay want bring back rates to 4%,emerging currencys will lose to dollar including yuan,on other hands some money from stocks may appear on btc market
All crypto is pump and dump dash went to 0.08 btc with no real reason

[epitome]

But dont we forget why Segwit and BU are there in the first place? Because Core isnt good enough right? And when the possible improvements like BU fail bigtime it isnt really positve?

It is not because core is not good enough,the software needs to be updated and since there are more people into bitcoin the limit of 1 mb has to be updated so as to include the current traffic.The core will come up with a good solution to resolve all those and i hope they will come.

[FiendCoin]

But dont we forget why Segwit and BU are there in the first place? Because Core isnt good enough right? And when the possible improvements like BU fail bigtime it isnt really positve?

It is not because core is not good enough,the software needs to be updated and since there are more people into bitcoin the limit of 1 mb has to be updated so as to include the current traffic.The core will come up with a good solution to resolve all those and i hope they will come.

There definitely needs to be a solution to the backlog of Bitcoin transactions, just not BTU, NEVER BTU!

[cellard]

But dont we forget why Segwit and BU are there in the first place? Because Core isnt good enough right? And when the possible improvements like BU fail bigtime it isnt really positve?

It is not because core is not good enough,the software needs to be updated and since there are more people into bitcoin the limit of 1 mb has to be updated so as to include the current traffic.The core will come up with a good solution to resolve all those and i hope they will come.

Core is the best team in the game. It is all miners fault. Miners want more money, that's why they want BU, so they can control the blocksize and everything else. BU is shit and doesnt work. Miners activate segwit or we have 1mb forever.

[BrewMaster]

with all the drama, fights, debates and all the stalling that is going on we will not see any change for at least another year. things will remain the same way as today with a big backlog and the same block size and fees growing and price moving up as always

we may even see $3000 before any solution for block size is found and implemented.

[lumeire]

But dont we forget why Segwit and BU are there in the first place? Because Core isnt good enough right? And when the possible improvements like BU fail bigtime it isnt really positve?

It is not because core is not good enough,the software needs to be updated and since there are more people into bitcoin the limit of 1 mb has to be updated so as to include the current traffic.The core will come up with a good solution to resolve all those and i hope they will come.

Core is the best team in the game. It is all miners fault. Miners want more money, that's why they want BU, so they can control the blocksize and everything else. BU is shit and doesnt work. Miners activate segwit or we have 1mb forever.

Probably a consequence of BTCBTCBTC mining being controlled by a few huge companies. If it was the community that is still at hand maybe we've already adopted a solution way back earlier.

[zby]

... those fears are now cleared after BUcoin collapsed. ...

Too early. Have a look at the graph:


it might have looked like the BU nodes are switching off after the discovery of the bug - but now they are back and there are even more of them.
Also you need to take a peek into https://www.reddit.com/r/btc/ - they are not giving up.

[klaaas]

The fears of a hard fork were bringing clouds on the bitcoin price, with some people planning to short or go back to fiat,

that sounds like traders, not users.

Applies to users also if they only watch the price swings going down.

[hacknoid]

There is a lot of hate on for BU because of the perception that they are trying to kill or fork Bitcoin, but that's not true.  BU doesn't want to damage Bitcoin any more than anyone else; but they can see that Segwit is not going to fix all the scaling issues.  Yes, SW will help, but there is a lot more required than just that.  Opponents of BU are spending too much time ridiculing the proposals instead of seeing them for what they are - an attempt to address the block size issue long term.  A not-insignificant amount of people are demanding a more complete scaling solution dealing with block size, and as long as Core chooses not to address those real concerns, the community will remain split.

If Core and BU were to stop the attacks and combine efforts, with each finding the faults of the others and then working on solutions to those faults, this whole thing could be solved.  Instead of just pointing out problems with the solutions from either side, the "sides" should instead put in place safeguards to deal with the issues raised.  All the disastrous consequences that are raised as concerns could be addressed beforehand, with the exception of the chain split.  A contentious fork should be avoided - but not a HF.  HFs will happen, and instead of just avoiding that issue, we should instead focus on how to limit bad results if things go sideways (as a result of any solution).

Bitcoin is dying from lack of scaling - and egos on both sides are getting in the way of progress.

And all this mudslinging is not helping.

[PokerDiceMan]

when BU (bitcoin unlimited block size can release)
i think if bitcoin unlimited release transaction is fast not much and wait unconfirmation transaction, can incraese bitcoin price
but i think still very dificult if until reach 3000 dollar

[travwill]

Core has always worked great for me.  Moved thousands around quick and fast with small fees.  MUCH smaller than traditional banking still.  Bitcoin is a great store of value and transfer protocol.  May never be a true currency with 10M transactions a second but doesn't need to be - layer on top of it for that.  It seems to be a good settlement/money movement system IMHO.

The only times people really complained it seems is when they misuse it with no fee, or when people are purposely spamming it to make points like BU users have done at times?  Read all that though, as never had delays or issues here.

[Gotottack]

Well look at it now, even if the bitcoin unlimited closed down 70 percent of their nodes due to the bug we still saw a major drop in prices as I think users are all really affected by the recent news of these forks. Another factor to consider is the fact that a lot of well traded altcoins are moving up, most of them have all gone up by half of their prices so people might be riding that out first then move back to bitcoins.

[Monnt]

Another factor to consider is the fact that a lot of well traded altcoins are moving up, most of them have all gone up by half of their prices so people might be riding that out first then move back to bitcoins.

But in my analysis, there are group of traders meant only for altcoin trading and also most of the traders are having separate capital for altcoin trading and for bitcoin trading so they are not messing up at the same time they are not waiting for one opportunity and hence they do not need to move funds here and there when opportunities are possible.