Losing Faith in Bitcoin?

[OROBTC]

...

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).

[1715656073]

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[1715656073]

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[Sadlife]

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.

[dissident]

Normal technical driven profit taking.  Nothing more, nothing less.

[Thatstinks]

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.

[romero121]

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.

[naughty1]

...

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.

[soul-impact]

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.

[OROBTC]

...

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.

[jjacob]

...

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.

[steampunkz]

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.

[Wind_FURY]

...

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?

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.

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.

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.

[Pzest1]

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 ) 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....

[btcney]

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.

[Holliday]

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

[pooya87]

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.

[JanpriX]

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.

[surix]

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.

[danherbias07]

Its just $100 and everything seems to be bad again about bitcoin. 
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.

[dinofelis]

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 !

[Herbert2020]

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.

[smartbitcoininvestor]

You still need to look at the fundamentals of Bitcoin as a storage of value. You're focused on minutiae that in the grand scheme of things, does not really matter.

[Amph]

it's funny every time that bitcoin have a price correction, poeple suddenly think about a big crash and that bitcoin is died or other shit like that

i guess the more the value will big higher the more the fear will be to think bitcoin can go to zero and make you lose all your investment

this is the reason that makse them fear every minimal swings in the market, besides this i don't think the number of transactions being stuck have nothing to do with the value or we would sit below $1000 forever

[davis196]

...

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).

1.Every time the bitcoin price increases the unconfirmed transactions increase.This is normal and stops the speculation bubble.
2.This is a price correction,which is normal.
I don`t see a SW/BU war....

[Pursuer]

all these drama and civil war is within the community and if you for example close down reddit and bitcointalk and only continue using bitcoin you will never even find out about the drama!

and as for unconfirmed transactions again if you only have a good wallet that suggests fees correctly you see that sending bitcoin has become more expensive, again no drama, no delays in confirmation, nothing.

and price has nothing to do with all this. it was a mini bubble that had to be corrected and will correct just like always.

none of this warrants "losing faith in bitcoin". you still are using the same bitcoin as you were using back in 2009

[fluidjax]

$180 change is only a 10% price movement, I agree bitcoin is volatile, but 5-10% movements are not unusual in world wide stock markets.

Imagine if you could see what happens in the board rooms of many companies, as a shareholder you would be shocked and lose confidence.
Bitcoin is done in public, so it's all visible, requires consensus and if you compare it to how business is usually done, looks messy.

Sit back and relax and let all these issues play out. Bitcoin is not going anywhere, everyone with any stake in it, has an interest in seeing it succeed. The internal squabbles are essentially a form of democracy in action.

[Gens09]

That's was really normal the bitcoin always swing it rice up and then down again I guess that was just normal maybe in the coming weeks the bitcoin price rate will go up again and will reach 2000$ this year. The market is circulating so the price will move up and down.

[paul gatt]

You still need to look at the fundamentals of Bitcoin as a storage of value. You're focused on minutiae that in the grand scheme of things, does not really matter.

I see a child in your thoughts. You do not have full understanding of bitcoin and the crypto market. The value of a change of money is a normal thing, however, you feel fear and distrust. This shows how young and weak you are. The things which you talk about really do not matter and are not necessary to discuss.

[izanagi narukami]

It's normal when people racing to sell when bitcoin value increase significantly
But one for sure that bitcoin will increase no matter what happen today so IMO it's a good decision to buy now !

Except if miner problem is fundamental, I'm discourage people for buying btc at the moment

[BingoDog]

Bitcoin has issues like everything else because something perfect doesn't exist. But that doesn't mean that you have to lose faith or abandon bitcoin with every sign of some problem, that just isn't right. Just have patience and we all have to put our efforts if we want bitcoin to fuly succed.

[kalodu]

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.

I think you focus too much one specific part of his argument. He is correct in wondering if the price falling and transactions getting stuck on the network is a consequence of scaling issues which are real and which are not being solved due to infighting between factions within the network. It has and is doing long term damage to bitcoin as it turns off new users who read about the fighting and fear it has no future, as well as meaning they cannot use it as a currency.

Now whether the current price fall is due to the scaling issues and infighting is another question and I don't think anyone has an answer that isn't just opinion.

[DoublerHunter]

I don't lose faith in bitcoin because i believe that the price will keep moving up even we are experiencing some price fall as of now but i think it doesn't matter after a few years because the price there will be very high and the people will become winners are the people who believe in bitcoin and still hold bitcoin for at least a few years.

[lol3c]

Bitcoin has issues like everything else because something perfect doesn't exist. But that doesn't mean that you have to lose faith or abandon bitcoin with every sign of some problem, that just isn't right. Just have patience and we all have to put our efforts if we want bitcoin to fuly succed.

I dont think it is about the technology inside Bitcoin. To me, Bitcoin is almost perfect, but the pool developers and managers do not want to cooperate with the Bitcoin users so that it has caused a lot of troubles to us

[leexhin]

I think dropping price of bitcoin is really normal and if they really know what is driving the price they should not lose faith in bitcoin,
They should know that when huge number of users sell their bitcoin the price would drop down .

[Dudeperfect]

Since we are struggling to build a massive network, we can expect such things to happen. However, I believe that we will soon find the solution and fix these issues soon. There are many investors and potential users are waiting outside to enter in bitcoin world but they are worried about these things and do not want to take a risk at this point. I also believe that we will have a concrete solution for the long term within a year or two.

[thisappointed]

it is normal, bitcoin's price fluctuating from lowest price to higher price and vice versa. But losing hope in bitcoin? It is not normal, especially if you have been already spent too much long on this cryptocurrency world. Though we can't blame the panic sellers thinking that they will lose more profits if they are not going to sell their bitcoin, because it will going down more and more each day.

They do have a point, because they are just playing it safe, but there is no point on doing it, because we all know that bitcoin's price would go up again in the sky again, there is just this thing "Ransomware" that is why bitcoin is experiencing DUMP right now, but trust me, we don't have to panic just because of this.

[1Referee]

Blame miners for not yet having activated Segwit. Blame miners for artificially choking the network with rubbish transactions to boost their income through fees. Blame miners for being a toxic entity in this whole system. Blame BU gangsters for contributing to this spam attack. Blame the people that take this spam attack far too serious. I seriously can't wait for the implementation of LN.

[ekoice]

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.

Yes,Bitcoin has increased dramatically from $1200 to $1735 and some people could not even bare $100 price drop and start saying that they are losing hope in bitcoin.It must be taken into consideration that besides huge number of transactions stuck,bitcoin has reached this price and there is no need to worry.

[machinek20]

It will be great if they can come into an agreement, it will help to boost bitcoin price higher, but recently bitcoin price has been up quite significant, the dropping is still normal compared to the rising, but they need to solve the problem quickly before the investor run to other alt coin

[secdark]

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.

Yes,Bitcoin has increased dramatically from $1200 to $1735 and some people could not even bare $100 price drop and start saying that they are losing hope in bitcoin.It must be taken into consideration that besides huge number of transactions stuck,bitcoin has reached this price and there is no need to worry.

Yeah right. But now bitcoin is already pumping. The drop price of bitcoin lately is because of the cyber attack all over the world. But the way how we react about this drop price of bitcoin is really not good because you say that you lose faith from bitcoin because of a pretty low drop price of bitcoin. If you really know bitcoin then you know that it will keep coming back no matter what

[perla]

i think down for $100 is better than more than $500 like last dump. bitcoin is more stable for now at least it is better than last day before bitcoin price dumped so much

[sotoshihero]

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.

Yes,Bitcoin has increased dramatically from $1200 to $1735 and some people could not even bare $100 price drop and start saying that they are losing hope in bitcoin.It must be taken into consideration that besides huge number of transactions stuck,bitcoin has reached this price and there is no need to worry.

Agree, when bitcoin losses $100 it is already the worst in bitcoin according to them but when it appreciates almost up to $1800 all are praising it. I think its a normal market correction until it stabilized and will rose again. We are trading it, and we should expect that there are ups and downs also.

[btcxyzzz]

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

LOL, it's taking a heavy toll for 2 years now. Practically, Bitcoin is dead at this point. Believe it or not.... Do you see other thriving projects, every single one of them is better than Bitcoin in some sense.

BU.... but, it's too late now IMO.

[btcxyzzz]

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.

Unbelievable gains, yes. But for Monero and Ethereum. Some people are so strongly emotionally attached to Bitcoin they just reject the truth they would be much much wealthier if they saw Bitcoin is attacked and killed by Core.

[deisik]

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)

I'm skeptical about soonest resolution of the issues Bitcoin is currently facing

I don't know about developers, but miners are certainly going to prolong the present status quo as long as possible simply because any solution will put their profits from transaction fees at risk. If Large Blocks are accepted they will just reveal to the world their complete roguishness by not filling up the blocks to their full capacity (with a lot of unconfirmed transactions still sitting in the pool), just like they are (not) doing now. If SegWit gets activated (and Lightning Network soon thereafter), that will cut a gaping dent in their profits right away. Regarding Bitcoin going to 5K dollars per coin, that's unlikely, at least, not in the short term. There is simply not enough money in the cryptomarket to buy up so many bitcoins to support prices at that level in a consistent way

[SingAlong]

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

LOL, it's taking a heavy toll for 2 years now. Practically, Bitcoin is dead at this point. Believe it or not.... Do you see other thriving projects, every single one of them is better than Bitcoin in some sense.

BU.... but, it's too late now IMO.

Yep it's true but we know Bitcoin from quiet a long time, the capabilities, and the potentials it has shown which drive the world into recognizing and legalizing Bitcoin. This issue has been growing a great deal but lets hope for the best that the developers are up to something which would raise the quality of service it can offer together with the increasing users.

[cpfreeplz]

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

Ya that was my thought. Really? Bitcoins rise 40% in a month then drop 5 or 10% (correction) and there's a doom and gloom thread? I expected it because people here are so greedy and so permabull but wtf. Be realistic. You're in the best investment in the world, so stop expecting better. It's ridiculous.

[Red-Apple]

Do you see other thriving projects, every single one of them is better than Bitcoin in some sense.

you know, when people like you make comments like this about bitcoin, it is just assuring us that bitcoin is still the biggest, best thing out there and people are getting desperate.

otherwise there is absolutely no reason for you to even be in this board, heck even in this forum.

[densuj]

i think down for $100 is better than more than $500 like last dump. bitcoin is more stable for now at least it is better than last day before bitcoin price dumped so much

Yes, actually bitcoin is better than couples years ago related price of bitcoin, the problem of bitcoin right now is about scaling of bitcoin, it is problem bitcoin network (fundamental of bitcoin) that is why price of bitcoin went down $100 in one day, debating without solution and the transaction of bitcoin that still not be confirmed by miners, will makes losing faith in bitcoin.

[Wesimon]

...

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).

Not because Bitcoin has decreased it value means you have to loose faith in it or stop believing. This might be a great opportunities for other Bitcoin users like traders and investor. And you we all know that we cannot avoid lapses or problems. But what's good is it will be resolved in no time.

[e-coinomist]

i think down for $100 is better than more than $500 like last dump. bitcoin is more stable for now at least it is better than last day before bitcoin price dumped so much

Yes, actually bitcoin is better than couples years ago related price of bitcoin, the problem of bitcoin right now is about scaling of bitcoin, it is problem bitcoin network (fundamental of bitcoin) that is why price of bitcoin went down $100 in one day, debating without solution and the transaction of bitcoin that still not be confirmed by miners, will makes losing faith in bitcoin.

Just most of all other blockchain based projects suffer from the very same scaling bottleneck. The critical timespan will be when somebody somewhere discovers a working solution which can prove itself out in the wild and WHEN will core development pick up there and implement that.
Bitcoins speed to adapt could get challenged all to much. It's somewhat rigid.

[Leonard2016]

we are all angry and sad about bitcoin and how miners are blocking the progress but i don't think any of us is losing faith in bitcoin. specially because we old users of bitcoin uderstand it well enough.
and the new comers are not losing faith either because they just started and paying a higher fee is not a problem when you are coming from a fiat system where you always paid much higher fees.

[Victorycoin]

Normal technical driven profit taking.  Nothing more, nothing less.

Quite well stated and it is actually as simple as that! After the recent all-time high price of Bitcoin 2 days ago, it is as certain as the sun rising in the east that profit taking would ensue, eventually leading to a drop in price, but which most likely would be corrected. There is no cause for alarm or losing faith in Bitcoin, instead it should be seen as another opportunity to join the ride once more at a lower price, that is if one sees a price of over $1500 as low.

[Qunenin]

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.

Yes,Bitcoin has increased dramatically from $1200 to $1735 and some people could not even bare $100 price drop and start saying that they are losing hope in bitcoin.It must be taken into consideration that besides huge number of transactions stuck,bitcoin has reached this price and there is no need to worry.

Agree, when bitcoin losses $100 it is already the worst in bitcoin according to them but when it appreciates almost up to $1800 all are praising it. I think its a normal market correction until it stabilized and will rose again. We are trading it, and we should expect that there are ups and downs also.

$100 loss of price in bitcoin is not anything big. We have been seeing a constant rise in bitcoin prices for about a couple of weeks and there is always a small dump before the prices start rising again. Some week hands sell seeing price is down, make the overall price a little bit more down, but then it is temporary as bitcoin wont fall much and will start rising again.

[notyours]

I still have my faith in Bitcoin intact and through all those years that they have survived myriad attacks will this one will just bring it down and I believe that these skilled developer would find a reliable and best solution regarding this problem in due time. Really hoping that they can identify the source of this issue and upgrade the services it can offer so it will gosmoothly and the potentials that Bitcoin has and been showing would not be gone to waste.

[el kaka22]

we are all angry and sad about bitcoin and how miners are blocking the progress but i don't think any of us is losing faith in bitcoin. specially because we old users of bitcoin uderstand it well enough.
and the new comers are not losing faith either because they just started and paying a higher fee is not a problem when you are coming from a fiat system where you always paid much higher fees.

Yes I am not losing my faith because even 0.15 million transactions are strucking for finding confirmations, I am able to get my transactions by paying 200 to 250 satoshi per byte which might be bigger compared too what I have paid some six months back, still I am good as I am not paying similar to I have do with paypal transactions.

Those 0.15 million transactions were initiated to spam the network for directly empathizing something. I guess they may not be successful with their attempts.

[moviebuff777]

...

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).

A $100 drop in one day is not very much when the price is $1800. I don't think there is any reason to panic right now.

[LeGaulois]

Similar situation happened last week, Bitcoin price decrased by 100$ in just 1 hour, then what happened next? Price got back to what is was just before this 100$ move. I am not afraid anymore to see such behavior on the price. Unless I see a 400$ drop, then I can say all is fine
I bet you Monday the price will be over 1800$

[FasTroy]

Similar situation happened last week, Bitcoin price decrased by 100$ in just 1 hour, then what happened next? Price got back to what is was just before this 100$ move. I am not afraid anymore to see such behavior on the price. Unless I see a 400$ drop, then I can say all is fine
I bet you Monday the price will be over 1800$

You are right, volatility limits become very large when bitcoin price increase more. So anything could be happen. By the way, I believe that bitcoin price will increase more after this drop of 100$, in the next few weeks.
All is fine.

[Yakamoto]

...

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).

Not sure why you'd start to worry after something like this, this has happened a lot of other times and I was honestly expecting a correction sooner than later, we just got to see it happen in a bit more of a brutal manner than anticipated. The scaling debate has also been going on for a long time and there is likely not going to be a change anytime soon unless the miners can agree on something. No reason to fret, this is essentially normal in my experience.

[Tyrantt]

we are all angry and sad about bitcoin and how miners are blocking the progress but i don't think any of us is losing faith in bitcoin. specially because we old users of bitcoin uderstand it well enough.
and the new comers are not losing faith either because they just started and paying a higher fee is not a problem when you are coming from a fiat system where you always paid much higher fees.

Absolutely, bitcoin is just taking it's breath and I'm as a lot of people who recently got into bitcoin, paying a lot higher fees with my fiat money, so I think that even tho fees are a little higher, they're still not as high as for fiat. People just got used to low bitcoin fees.

[Nagadota]

Price drops are caused by people taking money out of Bitcoin into fiat.  Bitcoin is only inconvenient for small transactions - people who have held a significant amount of Bitcoin will find that it's actually not that hard to be spending >1 Bitcoin, and people who still find Bitcoin quite convenient will not be selling by your logic so it would not cause a very significant price drop.

Actually, you'll notice that when you go to that transaction page you mentioned, a surprising number of the transactions are upwards of 10 Bitcoin.

[Karpeles]

The unconfirmed log and chaos in price happened before the first ETF decision, some months ago. Price went upwards because some people hoped for an approval, now everyone expects another rejection and are preemptively selling, expecting some crash after the new rejection
Wait a few days after the decision to see if everything happening now are or aren't problems artificially caused

[MingLee]

Price drops are caused by people taking money out of Bitcoin into fiat.  Bitcoin is only inconvenient for small transactions - people who have held a significant amount of Bitcoin will find that it's actually not that hard to be spending >1 Bitcoin, and people who still find Bitcoin quite convenient will not be selling by your logic so it would not cause a very significant price drop.

Actually, you'll notice that when you go to that transaction page you mentioned, a surprising number of the transactions are upwards of 10 Bitcoin.

That's actually a very good point, I didn't think about it like that before but when it comes to moving large amounts of wealth, Bitcoin is really efficient and effective at what it does. When it comes to transactions under $5, then it becomes a bit more expensive than it should be and you start to see more issues related to fees seeping through the cracks.

[Stedsm]

Price drops are caused by people taking money out of Bitcoin into fiat.  Bitcoin is only inconvenient for small transactions - people who have held a significant amount of Bitcoin will find that it's actually not that hard to be spending >1 Bitcoin, and people who still find Bitcoin quite convenient will not be selling by your logic so it would not cause a very significant price drop.

Actually, you'll notice that when you go to that transaction page you mentioned, a surprising number of the transactions are upwards of 10 Bitcoin.

Inconvenient as in what sense? If expected fee would not be paid, then why would a miner let such transactions involved in their blocks? And about the SW/BU conflict, I guess we are already on a co-ordinated decision that has been made by both the teams and the effects are not actually negative, but instead the price is increasing due to the so-called encounter.

[Kanine Awe]

Small transactions are slower, but those that are larger are still fast.  I don't think bitcoin is going to heavily drop or all of a sudden just stall in transactions.  It will continue as normal.

[KuromaYoichi]

You lose faith too quick. The civilwar is just a usual conflict of interest and BU will never win againts core. And the price? dude it's just $100 drop in one day, did you realize that we've been climbing from $1200 without some correction? correction is bound to happen and it's good that the price only down $100. If it fall below $1000 then you may start worrying for bitcoin future.

[OROBTC]

...

Thank you all for your comments.  I also liked the remarks about larger transactions v. smaller ones, good insights.

Please note that I did clarify my original post to state that it is not me who is particularly worried about SW/BU and the price drop, I worry more that the antics of the miners v. developers will scare off newbies.  That matters...

And now wcrypt has the .govs of the world all worked up, they may try to clamp down.  Potential newbies don't like that kind of news!

I'm OK with Bitcoin, and will likely hang with it for a long time.  I have not sold any, nor even recently bought gold with it!  

It's the future growth of BTC with all the issues that has me more concerned.

Peace to all.  

[Netnox]

You lose faith too quick. The civilwar is just a usual conflict of interest and BU will never win againts core. And the price? dude it's just $100 drop in one day, did you realize that we've been climbing from $1200 without some correction? correction is bound to happen and it's good that the price only down $100. If it fall below $1000 then you may start worrying for bitcoin future.

The exchange rates doesn't matter much, as long as Bitcoin retains such a large userbase. You need to start worrying when the altcoins like Ether and Ripple attract a part of the Bitcoin users.

[BitcoinPanther]

...

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).

Aside from these unconfirmed transactions, the once 130 sat/byte transaction that can give us an instant confirmation now needs to wait couples of hours before it gets its first confirmation.  It seems bitcoin, instead of evolving is devolving.  But even if bitcoin shows this sign, I never lose faith in Bitcoin and its core developer.  I still believe this scaling issue will be solved as time pass by.

[deisik]

...

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).

Aside from these unconfirmed transactions, the once 130 sat/byte transaction that can give us an instant confirmation now needs to wait couples of hours before it gets its first confirmation.  It seems bitcoin, instead of evolving is devolving.  But even if bitcoin shows this sign, I never lose faith in Bitcoin and its core developer.  I still believe this scaling issue will be solved as time pass by

Sometimes you may have to make a step back to make a step ahead

Personally, I'd rather say that Bitcoin is neither evolving nor devolving, it is in fact stagnating. But since other currencies are moving ahead (at least, there is such an impression), it kinda looks like Bitcoin is devolving. Now to my point. Developers can actually do little toward acceptance of whatever they might be developing or improving. It is miners that have the final say. So if Bitcoin continues to stagnate, primarily due to miners' obstinacy and obsession with short-term profits, then Bitcoin may lose its appeal and, consequently, value as well as price, therefore, these obstinate and rogue miners will have to leave on their own (that's basically why there is no tomorrow for Bitcoin miners of today anyway). After that, Bitcoin may finally get a boost in its development no longer constrained by this generation of reactionary miners

[phr0stbyt3]

I agree with you the transaction is speed is really slow and even i experience a lot of problems for the transaction to be confirmed but unfortunately there's nothing i can really do about it. The best thing is send transactions at a lower fees as sending as sending with high fees also takes one hour. Best thing low fees and wait for 3 hours or sometimes even a day

[qiman]

Bitcoin is here to stay but with the arguing and bickering going on, it does certainly make others think of other platforms like Ardor and Ethereum. I think the marketcap of other Altcoins and platforms will start taking a huge share of the Bitcoin value if Bitcoiners and the Bitcoin Developers/Miners do not get their act together. I still have great confidence in Bitcoin but we don't want BTC to become a dead dinosaur with the scaling issue not sorted out in due time.

[iamTom123]

Personally, I am not losing faith in Bitcoin as soon a real solution to the current big challenge can be implemented. Miners could not continue forever ignoring the problem just because the problem is giving them incentives to earn more money. They can not afford to kill the white goose that lays the golden eggs. Ordinary guys like us can only hope that soon these people will decide based on what can be the good for all concerned and not just based on their short-term vested interests.

[Yuuto]

...

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).

Aside from these unconfirmed transactions, the once 130 sat/byte transaction that can give us an instant confirmation now needs to wait couples of hours before it gets its first confirmation.  It seems bitcoin, instead of evolving is devolving.  But even if bitcoin shows this sign, I never lose faith in Bitcoin and its core developer.  I still believe this scaling issue will be solved as time pass by

Sometimes you may have to make a step back to make a step ahead

Personally, I'd rather say that Bitcoin is neither evolving nor devolving, it is in fact stagnating. But since other currencies are moving ahead (at least, there is such an impression), it kinda looks like Bitcoin is devolving. Now to my point. Developers can actually do little toward acceptance of whatever they might be developing or improving. It is miners that have the final say. So if Bitcoin continues to stagnate, primarily due to miners' obstinacy and obsession with short-term profits, then Bitcoin may lose its appeal and, consequently, value as well as price, therefore, these obstinate and rogue miners will have to leave on their own (that's basically why there is no tomorrow for Bitcoin miners of today anyway). After that, Bitcoin may finally get a boost in its development no longer constrained by this generation of reactionary miners

i agree that bitcoin seems to be a little more stagnate then taking steps backwards at this point. im hoping things will start moving forward with bitcoin again soon. on that note... is there absolutely nothing we nonminers using the bitcoin network could do to help make the situation progress in a positive manner for miners bitcoin value and the entire bitcoin community? i think maybe seeing what could be done to appease everyone might end up speeding things along... also like almost everyone these days the miners seem to be thinking of short term solutions for long term problems... wish they would think outside the average thought box and start thinking about long term solution for short term problems or excessively long term solutions for long term problems.

[eaLiTy]

The exchange rates doesn't matter much, as long as Bitcoin retains such a large userbase. You need to start worrying when the altcoins like Ether and Ripple attract a part of the Bitcoin users.

All these things are connected together,if the user base is large the price of bitcoin will be higher and so does the transaction delays with the current scaling issues the price would go up but they could not accommodate every transactions ,alt coins are attracting new investors and even they will suffer if the transaction per day is increased and we might see these issues in the future.Some of them have upgraded their protocol to segwit even though they did not need those upgrades.

[hugs1BTC]

...

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).

Never lost faith in Bitcoin. We can't, it's too important. Cryptocurrencies are the future of money and we are here as first witnesses. SW/BU is war must come to an end soon but I wouldn't say it affects the price too much.

[DoublerHunter]

I wouldnt say people are losing faith in Bitcoin.
I think thats quote the opposite,faith is at an all time high.
Im expecting a small dump now.

There will be no dump for me because the price is getting stabled at the current price and even the price dump a little bit because of the ransomware incident bitcoin is still strong and well established. The price dump, i think will be after the price reaches 2000 USD because some people will get an at least x2 or even x3 of their investment so they will unload some of their bag of bitcoins.

[stompix]

...


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.

1. Unconfirmed dropped to 128,000 at this moment

2. BTC is back in the green

Civil war?
Have a trip to Syria to see what a civil war is.

What we have here is a never ending story of everybody thinking his coding is shorter than the other's.

[doomistake]

Price drops are caused by people taking money out of Bitcoin into fiat.  Bitcoin is only inconvenient for small transactions - people who have held a significant amount of Bitcoin will find that it's actually not that hard to be spending >1 Bitcoin, and people who still find Bitcoin quite convenient will not be selling by your logic so it would not cause a very significant price drop.

Actually, you'll notice that when you go to that transaction page you mentioned, a surprising number of the transactions are upwards of 10 Bitcoin.

The price drops because of this "RANSOMWARES" thingy, that is why bitcoin's price exploded right now, there are anonymous people who are using bitcoin in illegal ways, because they want to eliminate bitcoin or they wanted to do their bad things anonymously. And it is not true that bitcoin's price drop because "people taking money out of bitcoin" because there is nothing wrong with that, that is the right way where we could earn money through bitcoin.

It is normal that bitcoin's price is having a price drop because bitcoin's price is so volatile, it would PUMP and DUMP, and the best thing to do when it had a huge price drop is to buy some and wait for its price to go up again so you could have profits while waiting.

[deisik]

Sometimes you may have to make a step back to make a step ahead

Personally, I'd rather say that Bitcoin is neither evolving nor devolving, it is in fact stagnating. But since other currencies are moving ahead (at least, there is such an impression), it kinda looks like Bitcoin is devolving. Now to my point. Developers can actually do little toward acceptance of whatever they might be developing or improving. It is miners that have the final say. So if Bitcoin continues to stagnate, primarily due to miners' obstinacy and obsession with short-term profits, then Bitcoin may lose its appeal and, consequently, value as well as price, therefore, these obstinate and rogue miners will have to leave on their own (that's basically why there is no tomorrow for Bitcoin miners of today anyway). After that, Bitcoin may finally get a boost in its development no longer constrained by this generation of reactionary miners

i agree that bitcoin seems to be a little more stagnate then taking steps backwards at this point. im hoping things will start moving forward with bitcoin again soon. on that note... is there absolutely nothing we nonminers using the bitcoin network could do to help make the situation progress in a positive manner for miners bitcoin value and the entire bitcoin community? i think maybe seeing what could be done to appease everyone might end up speeding things along... also like almost everyone these days the miners seem to be thinking of short term solutions for long term problems... wish they would think outside the average thought box and start thinking about long term solution for short term problems or excessively long term solutions for long term problems.

To keep friendship with the whole world means to be indiscriminate in your connections

Let alone trying to appease everyone. That would be outright counterproductive and will get you even further from resolving the issue (whatever that might be). Regarding miners, more specifically, you can't solve a problem by relying on people creating it. There is no reason absolutely to think the current generation of miners are going to think "out of the box". Simply put, this is just not in their interests, so why should they if they are quite happy with what they have now? And the current attack is meant to do exactly that, i.e. to make the irreconcilable differences between the Core and the Limited even more irreconcilable. As simple as that

[youngagethinker]

I’m still new into this field but as I observe in the previous bitcoin’s price and its wayward changed of prices I think there is nothing to worry about. Even if bitcoin’s prices is down and up to almost 1000$, its natural because there are so many cryptocurrencies’ that want to take bitcoins place in the top not mentioning the cyberattacks that is happening every single second. Bitcoin is here can be 0$ in an instant, but as a side-line worker I think there is nothing to go serious about. Get a job in the real world and get your bones strait. Don’t just rely on cryptocurrencies.

[Victorycoin]

Price drops are caused by people taking money out of Bitcoin into fiat.  Bitcoin is only inconvenient for small transactions - people who have held a significant amount of Bitcoin will find that it's actually not that hard to be spending >1 Bitcoin, and people who still find Bitcoin quite convenient will not be selling by your logic so it would not cause a very significant price drop.

Actually, you'll notice that when you go to that transaction page you mentioned, a surprising number of the transactions are upwards of 10 Bitcoin.

Profit taking is something to expect every time a market makes a new high and that makes the supply much more than the demand.  Econs101 would then see to the price going down, though mostly within a defined range, from where it is likely to bounce back unless there is a great change in the fundamentals. 

[naughty1]

Price drops are caused by people taking money out of Bitcoin into fiat.  Bitcoin is only inconvenient for small transactions - people who have held a significant amount of Bitcoin will find that it's actually not that hard to be spending >1 Bitcoin, and people who still find Bitcoin quite convenient will not be selling by your logic so it would not cause a very significant price drop.

Actually, you'll notice that when you go to that transaction page you mentioned, a surprising number of the transactions are upwards of 10 Bitcoin.

Profit taking is something to expect every time a market makes a new high and that makes the supply much more than the demand.  Econs101 would then see to the price going down, though mostly within a defined range, from where it is likely to bounce back unless there is a great change in the fundamentals. 

Your argument can only explain to the newbie in this forum. In fact, there are many factors that govern the value of a coin. In it, the popularity of bitcoin for the community is a very important factor that can influence the supply and demand of the market, which is why the bitcoin is soaring.

[Wintersoldier]

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.

It is common for a currency to dump or to experience volatile specially on bitcoin because it is a crypto-currency where it follows the principle of law of price and demand. Where the sudden changes and development of bitcoin is being affected by the support of the community. And just imagine bitcoin having a price that will not change it means that there is not investment itself to bitcoin. People and traders choose to invest to bitcoin because its price always change and its transaction develops it means people wants development for earning and development.

[e-coinomist]

I’m still new into this field but as I observe in the previous bitcoin’s price and its wayward changed of prices I think there is nothing to worry about. Even if bitcoin’s prices is down and up to almost 1000$, its natural because there are so many cryptocurrencies’ that want to take bitcoins place in the top not mentioning the cyberattacks that is happening every single second. Bitcoin is here can be 0$ in an instant, but as a side-line worker I think there is nothing to go serious about. Get a job in the real world and get your bones strait. Don’t just rely on cryptocurrencies.

Instant "zero" would require a major failure of the mathematics supplied and those have proven to be rock solid!
About the seriousness as in Bitcoin Maximalism I'm on par to you, dropped that myself long ago. Other crypto projects are so advanced in 2017 to exist independently on their own.

[btcforall777]

There needs to be a new governance mechanism similar to dash. I agree that the currency system is self destructive.

[GetClams.com]

There needs to be a new governance mechanism similar to dash. I agree that the currency system is self destructive.

I agree wholeheartedly. They will fight for a couple years about changeling that too. Makes you sort of wonder what the short term fate of BTC is.

[Wind_FURY]

it's funny every time that bitcoin have a price correction, poeple suddenly think about a big crash and that bitcoin is died or other shit like that

It is either they are panicking and they want everyone else to panic with them or they are traders who think their posts can help move the market in a direction they want.

i guess the more the value will big higher the more the fear will be to think bitcoin can go to zero and make you lose all your investment

this is the reason that makse them fear every minimal swings in the market, besides this i don't think the number of transactions being stuck have nothing to do with the value or we would sit below $1000 forever

The question we should be thinking about is why is Bitcoin this high despite the scalability issue. Something is off here.