Bitcoin sucks ass but price still rises- how come

[AngelSky]

The reasons for this are simple. There is a shortage of coins on the market, and people are beginning to realize that storage of value is the main feature of Bitcoin.

It's the demand, plus the panic buying aspect that makes sure that there are less coins available to acquire.

From there it's either you waiting on the side line hoping for the price to go down, or you'll jump in at currently high prices ~ the latter mentioned seems to be the case.

I am glad I have done most of my buying under the $500 mark. Till this day I am still hodling my coins, and I am not yet willing to cash out even a single satoshi.

Halving mining reduction was the reason for this demand and bitcoin seems to be hold many people even you can look at the traders,they made the bitcoin selling value is higher than the Google value. I missed holding many times. Now, I do not have source to make bitcoin. Simply fed-up of it. I was selling out bitcoin when price is 400$ also now empty pocket.

[eaLiTy]

Halving mining reduction was the reason for this demand and bitcoin seems to be hold many people even you can look at the traders,they made the bitcoin selling value is higher than the Google value. I missed holding many times. Now, I do not have source to make bitcoin. Simply fed-up of it. I was selling out bitcoin when price is 400$ also now empty pocket.

Halving happened sometime back and the current rally is not because of that,there are several factors to take into consideration when we see a good rally and one thing is that several countries are accepting and legalizing bitcoin ,so that we are seeing more investors and businesses coming up in the crypto market ,then there is the reconsideration of SEC for the approval of ETF and then the economic instabilities around the globe took the price above $2000.

[Hyena]

Once Bitcoin gets bigger blocks and segwit is history the altcoin bubble is going to crash so hard 

[mindrust]

Believe it or not... Segwit is coming. (get ready for >10k$)

It has come to the point that the community don't give fuck anymore if there will be a chain split or not. Many USD whales saw this and started to buy bitcoins like there is no tomorrow.

Segwit will be activated.

What if BU Fanboys decide mine their own chain? So be it. They can do that but they will stay as an altcoin (BTU) forever. They can keep signaling for BTU if that's what they want. We'll find out soon enough.

[Hyena]

Believe it or not... Segwit is coming. (get ready for >10k$)

It has come to the point that the community don't give fuck anymore if there will be a chain split or not. Many USD whales saw this and started to buy bitcoins like there is no tomorrow.

Segwit will be activated.

What if BU Fanboys decide mine their own chain? So be it. They can do that but they will stay as an altcoin (BTU) forever. They can keep signaling for BTU if that's what they want. We'll find our soon enough.

you already got your stinking segwit on LTC, not going to happen on BTC. 10k prices would already be here if the block size was increased and segwit dead and buried. Go back under the bridge you troll.

[Noctis Connor]

As of other see's bitcoin sucks because it took hours before there transaction begin to approved/confirmed  but since other wanting to bitcoin price increase more they make the demand more in demand do you know what i wanna meant? Bitcoin is special now more on companies are thinking to use it.

[btc_angela]

Bitcoin has become a pain in the ass latley, transactions are stuck forever even with high transaction fees however the price still keeps rising, why is this

is this a bubble and bitcoin will collapse to pre 1000 again or will it continue to go up?

whats there to do with these transaction fees to be able to send bitcoin

It is not a bubble so I think it will not collapse to pre $1000. Investors are matured enough not to panic sell because of Japan. I agree the high transaction fee is a problem, but people is trusting bitcoin now. That's why they are still buying and using bitcoin. The price is above $2000 and nobody can't stop the price from rising.

[Netnox]

Once Bitcoin gets bigger blocks and segwit is history the altcoin bubble is going to crash so hard  

How is it going to get bigger blocks, when there is no consensus? I don't care much about SegWit and BU. But this situation can't go on like this. A lot of harm has been done already and the altcoin users are making the maximum use out of it.  

[Hyena]

Once Bitcoin gets bigger blocks and segwit is history the altcoin bubble is going to crash so hard  

How is it going to get bigger blocks, when there is no consensus? I don't care much about SegWit and BU. But this situation can't go on like this. A lot of harm has been done already and the altcoin users are making the maximum use out of it.  

Very simple: market demand. Blockstream lies about having the economic majority on their side. Their devs don't even use BTC in their everyday life. The real economic majority are people who use Bitcoin, online casinos and merchants, all of them want smaller TX fees. The block size is bound to be increased either via forking or whatever, it will increase. There's simply so much demand for it especially now when BTC is trading higher and higher every day. Soon BTC will cost so much that no one would even care about the potential drop in price due to forking, besides holders will get to keep coins on both chains.

[freebutcaged]

Either pay $2-$5 as normal fees or shut the fuck up mate, if anyone wants fast network plus low fees they should build their own mining farms and beat BU to the ground.

Tell this to BU devs; why don't they take Core software and then only increase the block size in it without changing any thing else.

I'll bet they'll have some answers for that, yes they want their own version to be accepted blindly just because it solves the block size problem.

If anyone has issues with Bitcoin they should use altcoins with fast network and low fees and let Bitcoin be.

Next stop is $2800 just like when price jumped from $1100 to $1800 we shall see another leap from $2100 to $2800.

[Hyena]

Either pay $2-$5 as normal fees or shut the fuck up mate, if anyone wants fast network plus low fees they should build their own mining farms and beat BU to the ground.

Tell this to BU devs; why don't they take Core software and then only increase the block size in it without changing any thing else.

I'll bet they'll have some answers for that, yes they want their own version to be accepted blindly just because it solves the block size problem.

If anyone has issues with Bitcoin they should use altcoins with fast network and low fees and let Bitcoin be.

Next stop is $2800 just like when price jumped from $1100 to $1800 we shall see another leap from $2100 to $2800.

Core software isn't what it used to be. It suffers from several regressions in the past version. For example, their OPT-IN RBF is a messy hack that should be ripped off and discarded as crap. Also, Core nodes don't relay double spends which keeps merchants in dark until the double spend gets confirmed by a miner. Their software used to be okey but it's now not even worth to be called Core. When Gavin and Mike stopped contributing to the Core reference client all progress stopped unfortunately 

[richardsNY]

Core software isn't what it used to be. It suffers from several regressions in the past version. For example, their OPT-IN RBF is a messy hack that should be ripped off and discarded as crap. Also, Core nodes don't relay double spends which keeps merchants in dark until the double spend gets confirmed by a miner. Their software used to be okey but it's now not even worth to be called Core. When Gavin and Mike stopped contributing to the Core reference client all progress stopped unfortunately  

Aren't you one of those very few (but loud) BU supporters? If you keep hammering down on Core's software, which I find to be totally wrong from your side, then at least take the time to look at the buggy software from those BU rats. It doesn't even deserve to be supported by miners, but they just protest vote BU because they don't see value in SegWit. Don't forget that this signalling of support happens with Core.

[Hyena]

Core software isn't what it used to be. It suffers from several regressions in the past version. For example, their OPT-IN RBF is a messy hack that should be ripped off and discarded as crap. Also, Core nodes don't relay double spends which keeps merchants in dark until the double spend gets confirmed by a miner. Their software used to be okey but it's now not even worth to be called Core. When Gavin and Mike stopped contributing to the Core reference client all progress stopped unfortunately  

Aren't you one of those very few (but loud) BU supporters? If you keep hammering down on Core's software, which I find to be totally wrong from your side, then at least take the time to look at the buggy software from those BU rats. It doesn't even deserve to be supported by miners, but they just protest vote BU because they don't see value in SegWit. Don't forget that this signalling of support happens with Core.

You are wrong. I don't support any particular alternative full node implementation more than others. I am however very unhappy with the Core's implementation due to several reason. I am also an economic user and my days at work are directly disturbed by the fact that blocks are full (loads of customer complaints) and that Core's implementation does not relay double spends. So for that reason I support all full node implementations that represent the original philosophy of Satoshi Nakamoto. I like XT because it relays double spends, I like Classic because of their roadmap from the point of view of a software architect. I like Unlimited because it allows full node opreators to define their own block size limit.

[mindrust]

Core software isn't what it used to be. It suffers from several regressions in the past version. For example, their OPT-IN RBF is a messy hack that should be ripped off and discarded as crap. Also, Core nodes don't relay double spends which keeps merchants in dark until the double spend gets confirmed by a miner. Their software used to be okey but it's now not even worth to be called Core. When Gavin and Mike stopped contributing to the Core reference client all progress stopped unfortunately  

Aren't you one of those very few (but loud) BU supporters? If you keep hammering down on Core's software, which I find to be totally wrong from your side, then at least take the time to look at the buggy software from those BU rats. It doesn't even deserve to be supported by miners, but they just protest vote BU because they don't see value in SegWit. Don't forget that this signalling of support happens with Core.

You are wrong. I don't support any particular alternative full node implementation more than others. I am however very unhappy with the Core's implementation due to several reason. I am also an economic user and my days at work are directly disturbed by the fact that blocks are full (loads of customer complaints) and that Core's implementation does not relay double spends. So for that reason I support all full node implementations that represent the original philosophy of Satoshi Nakamoto. I like XT because it relays double spends, I like Classic because of their roadmap from the point of view of a software architect. I like Unlimited because it allows full node opreators to define their own block size limit.

So you love anything but core bitcoin. Just like the other fyooked dude. He loves ETH, he likes Dash, he likes BTU... But hell no, not Bitcoin. Hell nooo, not Segwit because it is coming from the Core devs.

Segwit solves everything you mentioned earlier but noo, it is coming from the core.

No offense but you sound more like you are paid by the banksters and given orders to destroy the original coca-cola, just like the other shill.

Your kind's days are numbered anyway. Enjoy it while it lasts. Cya in Aug/1.

#UASF
#UASF
#UASF

[Hyena]

So you love anything but core bitcoin. Just like the other fyooked dude. He loves ETH, he likes Dash, he likes BTU... But hell no, not Bitcoin. Hell nooo, not Segwit because it is coming from the Core devs.

Segwit solves everything you mentioned earlier but noo, it is coming from the core.

No offense but you sound more like you are paid by the banksters and given orders to destroy the original coca-cola, just like the other shill.

I have done my research. It's that simple. I am a software architect. I know how software should be developed and how it should not be developed. I can see through the bullshit. SegWit doesn't solve anything, it's a pseudo-technical babble. I'm also a big stakeholder in BTC (signed up for Nakamoto's consensus in 2011) so I am paid indirectly by the success of Bitcoin. I don't like seeing my investment being mauled by Bankster funded Blockstream and incompetent basement dwellers. The fact that we have not increased the block size limit yet is crippling the Bitcoin network. If you like SegWit so much then go to Litecoin, it has it. Please leave. Leave with Core and start doing whatever you want with Litecoin because obviously the LTC community is more OK with it. I don't care about LTC. Sold my last Litecoins when they reached 30$.

[Kprawn]

Bitcoin does not suck... the people who do not want to signal change are the people who are doing most of the sucking .... and they suck the

most from the extra fees they are getting from this situation. The longer this scaling debate goes on, the longer they will be able to suck people

dry with these higher fees. We hate this, but there is not a lot we can do about it.   .......The reason it goes up ---> HIGHER adoption.

[Skarner21]

Bitcoin does not suck... the people who do not want to signal change are the people who are doing most of the sucking .... and they suck the

most from the extra fees they are getting from this situation. The longer this scaling debate goes on, the longer they will be able to suck people

dry with these higher fees. We hate this, but there is not a lot we can do about it.   .......The reason it goes up ---> HIGHER adoption.

We are seeing high adoption but the fees debate still there there are many issue about bitcoin that i think they need to be focus if what the issue today like many unconfirmed transaction.
They are focus for the price increase but the problem are still there that never been solve..
Well we are still getting benefits of the price increase even the transaction fee is really high that i think its more than high than the fee for paypal. .

[dothebeats]

Knowing that several countries are now offering their arms wide open to bitcoin (Japan, Australia, SoKor etc.), the reaction of the market would be positive, thus the price increase. I agree, transaction confirmation times haven't been that great lately, but that would be relieved once we finally agreed upon into something (SegEit or BU). Also, bitcoin doesn't suck. For tx, it sure does, but for other things—mostly store of value—it is a great performer.

[bartolo]

Bitcoin has become a pain in the ass latley, transactions are stuck forever even with high transaction fees however the price still keeps rising, why is this

is this a bubble and bitcoin will collapse to pre 1000 again or will it continue to go up?

whats there to do with these transaction fees to be able to send bitcoin

If the price is rising with these problems, imagine where it would be if they were solved. I guess there's a lot of money coming into the bitcoin and altcoins market lately, there are new people who are entering this world now and surely many of these new investors are people with a lot of money, that is, whales. It´s possible that for these people there is not much difference between paying 20 cents or 5 dollars in fees and they have no problem waiting a little for their transactions. For ordinary people it´s more annoying, especially to make micropayments or send small amounts of money, but not for them. Also, if there are people who are buying as a store of value, they will not have problems with paying slightly higher fees either.

[freedomno1]

Bitcoin has become a pain in the ass latley, transactions are stuck forever even with high transaction fees however the price still keeps rising, why is this

is this a bubble and bitcoin will collapse to pre 1000 again or will it continue to go up?

whats there to do with these transaction fees to be able to send bitcoin

Alt Coin speculation is at all time highs and the means of trading those coins is through Bitcoin as a pass-thru
Of course people may also just be learning about Bitcoin and starting to invest on major scales with all the Failed ETF news it likely caught the attention of some big bankers and they are just pouring in new capital. It's fun to speculate on those things ^^.