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Author Topic: Losing Faith in Bitcoin?  (Read 3167 times)
OROBTC
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May 13, 2017, 01:41:18 AM
 #1

...

Maybe the SW/BU Bitcoin Civil War is starting to have a negative effect.

1. 182,000 unconfirmed transactions (highest I have ever seen in my casual monitoring at: https://blockchain.info/new-transactions)

2. BTC down over $100 in one day.


I sure wish the Miner Wankers and the Developer Wankers would get together and SOLVE the scaling problem(s).  Else they may damage the Bitcoin Ecosystem and discourage newbies from joining the community.

BTC to $5000 if/when they resolve all of this (credit to jonald_fyookball for that prediction, and I would agree with that number).
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May 13, 2017, 01:56:56 AM
 #2

It's fine bitcoin has been volatile since like forever this could be a good chance for traders and investor to buy lots of it while it's still low.
Although there is no doubt that if ever an scaling solution is activated in bitcoin price will surely pump to newer highs like litecoin implementing segwit but the community still refuses it bcoz of some conpiracy theories that doesn't have any proof.

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May 13, 2017, 02:05:26 AM
 #3

Normal technical driven profit taking.  Nothing more, nothing less.
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May 13, 2017, 02:06:16 AM
 #4

Bitcoin will always go way UP then way down when profits are taken, the only reason it gets pumped up to start with, getting real money out of it.

One day it will go way up then way down then way way down then BOOM game over.

This digital coin (not money) but digital coin is worth what people are willing to pay for it now ONLY because of speculation then profit taking, this is not a future world wide currency, wake up.

https://www.cryptocoinsnews.com/1-bitcoin-community-controls-99-bitcoin-wealth/

This money maker is not for you, no anti government, not going to surpass any government control of the money supply etc. It has great tech (chain) and other uses but the coin is a novelty people now spec on to make money. Real believers are the 1% of holders. The 99% will burn you when they are ready.
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May 13, 2017, 02:16:02 AM
 #5

For what's been stated by Op, there is no need to lose faith on bitcoin. This is a delusion that most users have as they always focus on increase and profiting. They cannot accept loss, the price falling down or the huge number of transactions getting stuck on the network is common. The same gets running perfect within a short time frame.

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May 13, 2017, 02:22:01 AM
 #6

...

Maybe the SW/BU Bitcoin Civil War is starting to have a negative effect.

1. 182,000 unconfirmed transactions (highest I have ever seen in my casual monitoring at: https://blockchain.info/new-transactions)

2. BTC down over $100 in one day.


I sure wish the Miner Wankers and the Developer Wankers would get together and SOLVE the scaling problem(s).  Else they may damage the Bitcoin Ecosystem and discourage newbies from joining the community.

BTC to $5000 if/when they resolve all of this (credit to jonald_fyookball for that prediction, and I would agree with that number).

No, bitcoin has been and is happening civil war, however, it is not a civil war between SW and BU (BU is not entirely qualified to be mentioned here). This is a Civil War that holds BTC CORE and SEGWIT. It's ridiculous to say that btc dropped more than $ 100 a day, before talking about it, it grew faster, it spiked in a short time, so its value was reduced by Completely normal. Also, I am sure the bitcoin can not reach the $ 5000 value over the next 2 years.

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May 13, 2017, 02:25:39 AM
 #7

For what's been stated by Op, there is no need to lose faith on bitcoin. This is a delusion that most users have as they always focus on increase and profiting. They cannot accept loss, the price falling down or the huge number of transactions getting stuck on the network is common. The same gets running perfect within a short time frame.

Very accurate, i like your look. They are too greedy, so they are always waiting for the growth of bitcoin and its value. They do not look at reality, they do not look at the market, they are so illogical about the power of bitcoin while its popularity is declining. Faith is not from what they can say about bitcoin. OP really wrong.

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May 13, 2017, 02:26:04 AM
 #8

...

Maybe the SW/BU Bitcoin Civil War is starting to have a negative effect.

1. 182,000 unconfirmed transactions (highest I have ever seen in my casual monitoring at: https://blockchain.info/new-transactions)

2. BTC down over $100 in one day.


I sure wish the Miner Wankers and the Developer Wankers would get together and SOLVE the scaling problem(s).  Else they may damage the Bitcoin Ecosystem and discourage newbies from joining the community.

BTC to $5000 if/when they resolve all of this (credit to jonald_fyookball for that prediction, and I would agree with that number).

No, bitcoin has been and is happening civil war, however, it is not a civil war between SW and BU (BU is not entirely qualified to be mentioned here). This is a Civil War that holds BTC CORE and SEGWIT. It's ridiculous to say that btc dropped more than $ 100 a day, before talking about it, it grew faster, it spiked in a short time, so its value was reduced by Completely normal. Also, I am sure the bitcoin can not reach the $ 5000 value over the next 2 years.



Thank you for clearing up the players (my highlighting in your comment).

Yes, I do understand you (and others) about BTC volatility (although price at ounce.me shows it down a majestic $180 now).  I am not whining about that, as I too did participate in the upward price spike.

My comment re price going WAY down is that OTHERS (new people, prospective BTC players) may get scared off because of the decline AS WELL AS the Silly Civil War.  And, yes, I have seen other BTC Civil Wars since I joined up, although this one seems the worst that I have observed.
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May 13, 2017, 02:31:49 AM
 #9

...

Maybe the SW/BU Bitcoin Civil War is starting to have a negative effect.

1. 182,000 unconfirmed transactions (highest I have ever seen in my casual monitoring at: https://blockchain.info/new-transactions)

2. BTC down over $100 in one day.


I sure wish the Miner Wankers and the Developer Wankers would get together and SOLVE the scaling problem(s).  Else they may damage the Bitcoin Ecosystem and discourage newbies from joining the community.

BTC to $5000 if/when they resolve all of this (credit to jonald_fyookball for that prediction, and I would agree with that number).

When BTC goes down $100 in one day, just think about what has been the price movement in the last 1 month or 1 year. There have been unbelievable gains. No reason to lose faith in Bitcoin now.


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May 13, 2017, 02:45:01 AM
 #10

Even bitcoin is down over 100$ this is still okay because the price of bitcoin now has increased big for this  past months. No need to worry sir. Bitcoin will never let us down.  BU will never win against BTC Because of many users  supporting and still trusting bitcoin to be their primary crypto-currency like me.

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May 13, 2017, 02:56:33 AM
 #11

...

Maybe the SW/BU Bitcoin Civil War is starting to have a negative effect.

1. 182,000 unconfirmed transactions (highest I have ever seen in my casual monitoring at: https://blockchain.info/new-transactions)

Segwit would have freed some space in a block it was always in the miner's hands. There is also BU, which is supposedly what the miners really want. But where is it? Why are the miners not doing the hard fork?


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2. BTC down over $100 in one day.

That is still ok by Bitcoin's standards. Down by $1000 in 1 day is something to worry about.


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I sure wish the Miner Wankers and the Developer Wankers would get together and SOLVE the scaling problem(s).  Else they may damage the Bitcoin Ecosystem and discourage newbies from joining the community.

It is more in the hands of the miners. The developers, both Core and BU, release code and you take it or you leave it.

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BTC to $5000 if/when they resolve all of this (credit to jonald_fyookball for that prediction, and I would agree with that number).

That is very arguable.


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Pzest1
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May 13, 2017, 02:57:09 AM
 #12

Bitcoin will always go way UP then way down when profits are taken, the only reason it gets pumped up to start with, getting real money out of it.

One day it will go way up then way down then way way down then BOOM game over.

This digital coin (not money) but digital coin is worth what people are willing to pay for it now ONLY because of speculation then profit taking, this is not a future world wide currency, wake up.

https://www.cryptocoinsnews.com/1-bitcoin-community-controls-99-bitcoin-wealth/

This money maker is not for you, no anti government, not going to surpass any government control of the money supply etc. It has great tech (chain) and other uses but the coin is a novelty people now spec on to make money. Real believers are the 1% of holders. The 99% will burn you when they are ready.

I sort of agree with a couple of things although imagine how many people said this during the early days. What i do agree on is Bitcoin and alts have become a way to make money. How many buyers are using it for real world purchases when instead keeping it will most likely make you money. They are all investments or used for day trading to make money. How many coins get pumped and dumped (especially Ripple Smiley ) every day just for those to either make a daily wage or turn back into BTC to boost their holdings. 99% want to make money off it, 1% might buy their milk and bread with it, until it becomes as relatively stable as FIAT then thats how it will remain. How far it and others go up and down are part of the fun (or pain).

Kind of ironic how its conception was to replace FIAT and most people are wanting to make a $hitload of money off it instead. would you rather become a millionaire or a cryptonaire? pretty easy answer in this day and age....
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May 13, 2017, 03:01:37 AM
 #13

Oh come on man, down $100 a day is expected, this price isn't gonig to keep up forever and we all know that.

Right now bitcoin is going for a short term adjustment and as you said if all the issues that you've listed gets sorted out bitcoin has pretty much infinite potential. $5,000 can even be an underestimate depending on how inflated fiat currencies get.

You're right about the unconfirmed transactions and it's even funny anymore - i've got 2 transactions not getting confirmations for hours right now and Viabtc accelerator is getting fuller a lot quicker.

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May 13, 2017, 03:56:31 AM
 #14



OP is either clearly delusional or desperately trying to shove some agenda down everyone's throat. I'll let the reader decide.


If you aren't the sole controller of your private keys, you don't have any bitcoins.
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May 13, 2017, 04:11:31 AM
 #15

i agree with the number of unconfirmed transactions, that is really a turn off to all of us not just newcomers. and it needs to be fixed sooner than later.
but price has nothing to do with all of this. neither the drop nor the rise.
price dropped because it had gone up fast and it needed a correction.
and price will reach $5000 because even if blocks are full and mempool is exploding, people are still investing in bitcoin and price is still rising 100% to 200% each year.

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May 13, 2017, 04:19:02 AM
 #16

I'm certainly not losing faith to BTC. Yes, we still have problems that are yet to be addressed and these problems exist for quite some time now but the thing that I can do as of the moment is to still believe in BTC. I'm hoping that one way or another, people who are involved will find the solution to the problems that we are having right now. In terms of its price drop just today, I think this is very normal. We just went up to unknown price territories in just a matter of days. This is bound to happen. Those who knew BTC from the start shouldn't panic and should just chill.

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May 13, 2017, 04:38:36 AM
 #17

Faith in bitcoin is related to how is can change the world, not a small price drop.

About the civil war of bu and segwit, I just hope it will not creat too much damage to the developments and get solved in a near future.

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May 13, 2017, 04:48:29 AM
 #18

Its just $100 and everything seems to be bad again about bitcoin.  Grin
The hell! It grew so fast like a plant filled with an advance fertilizer that is not yet even invented.
C'mon man! Give bitcoin a break and dont do something like this to turn the tides backwards.
Some might believe about that and it might be a mess that even we cant get it all back. It will all just be regrets to why we started such a thread.

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dinofelis
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May 13, 2017, 04:53:33 AM
 #19

Bitcoin will always go way UP then way down when profits are taken, the only reason it gets pumped up to start with, getting real money out of it.

One day it will go way up then way down then way way down then BOOM game over.

This digital coin (not money) but digital coin is worth what people are willing to pay for it now ONLY because of speculation then profit taking, this is not a future world wide currency, wake up.

https://www.cryptocoinsnews.com/1-bitcoin-community-controls-99-bitcoin-wealth/

This money maker is not for you, no anti government, not going to surpass any government control of the money supply etc. It has great tech (chain) and other uses but the coin is a novelty people now spec on to make money. Real believers are the 1% of holders. The 99% will burn you when they are ready.

This is also more or less my sentiment, when I evolved from "enthusiastic freedom money" to "why are some idiots speculating" to "ah, actually, that's what it was made for!".  That said, speculative stuff to pump money out of the weak, in the hand of the rich, may have a long life !
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May 13, 2017, 05:53:52 AM
 #20

Bitcoin will always go way UP then way down when profits are taken, the only reason it gets pumped up to start with, getting real money out of it.

One day it will go way up then way down then way way down then BOOM game over.

This digital coin (not money) but digital coin is worth what people are willing to pay for it now ONLY because of speculation then profit taking, this is not a future world wide currency, wake up.

https://www.cryptocoinsnews.com/1-bitcoin-community-controls-99-bitcoin-wealth/

This money maker is not for you, no anti government, not going to surpass any government control of the money supply etc. It has great tech (chain) and other uses but the coin is a novelty people now spec on to make money. Real believers are the 1% of holders. The 99% will burn you when they are ready.

This is also more or less my sentiment, when I evolved from "enthusiastic freedom money" to "why are some idiots speculating" to "ah, actually, that's what it was made for!".  That said, speculative stuff to pump money out of the weak, in the hand of the rich, may have a long life !


you can't stop people from treating things the way they think is best.

if they want to treat bitcoin as for "only speculating" they are free to do so.
if they want to treat bitcoin as a decentralized "freedom money" they are still free to do so.

if people want to treat gold as only a speculation tool they are free to do so.
if people want to treat gold (nanoparticles) as an "efficient targeted cancer drug delivery" they are free to do so too.

you can't blame them.

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