Losing Faith in Bitcoin?

[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.

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[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