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Author Topic: Losing Faith in Bitcoin?  (Read 3062 times)
deisik
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May 14, 2017, 08:57:46 AM
 #81

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

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youngagethinker
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May 14, 2017, 09:04:06 AM
 #82

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.

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May 14, 2017, 01:59:43 PM
 #83

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. 

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naughty1
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May 14, 2017, 02:24:54 PM
 #84

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.

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Wintersoldier
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May 14, 2017, 02:56:56 PM
 #85

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.

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May 14, 2017, 03:43:10 PM
 #86

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.

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May 14, 2017, 08:01:17 PM
 #87

There needs to be a new governance mechanism similar to dash. I agree that the currency system is self destructive.
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May 14, 2017, 08:49:03 PM
 #88

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.

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May 15, 2017, 02:03:37 AM
 #89

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.

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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.

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