BItcoin end or destroy in this month??

[hridoyb]

I donot understand what are going to on bitcoin?Bitcoin dumping  and dumping .Now bitcoin under 3600$ i think in this week its going to under 3000$.China can destroy bitcoin or ended this month.What your predict ?

[SchlaWinner]

Well china apparently makes up for a big part of the Market Cap overall.. which is already down from 180B$ to 120B$ already

Fact is, a lot of scared money + trader who use the dips apparently start selling along with them which creates an even bigger dip than if only the chinese would jump out

[Blowon]

I donot understand what are going to on bitcoin?Bitcoin dumping  and dumping .Now bitcoin under 3600$ i think in this week its going to under 3000$.China can destroy bitcoin or ended this month.What your predict ?

problem is market china has banned. i dont know that all will be make destroying bitcoin or make be worse. with considering china are big of holder of bitcoin which 50% total bitcoins. that is may possibly fall hit 3000$.

[getreal]

The hype was so strong that it is not easy to pull these people out the spell of the coin-talk. It gives a trance feeling making them believe that they just discovered some great secret open world that is not visible to others. This is a cult effect. It stops them from thinking or questioning further after they were amazed by a dose of tech stuff and then they look around the table and see that everyone is nodding their heads in trance. You naturally go with the flow. You forget that there is world outside the casino.

People even talk as if the government and taxes are even required. Fooled by the libertarian talk, people forgot to question the relevance of the new currency in the context of real world.

The real concerns are not in the technicalities or robustness of the cryptography or blockchain, but in their applicability to real-world contexts. Most of this hype talk doesn't even look at differences between asset and currency nor the interactions between real-world systems and crypto payments, which is the concern of several governments and banks.

Bitcoin will stay secure, pure, math beauty but will be unlawful for anything related to financial use.

People also buy into silly analogies such as saying that cash has the same regulatory issues and criminal use. This reasoning pushes some more people into trance, with no further thinking.

Remember folks - between government and bitcoin only one will survive. Not both. The script kids who love anonymity and hate any social control, are recruiting and marching huge number of innocent armies of poor blind-folded investors into an already lost battle.

Added to the confusion, there is a good amount pseudo-intellectuals, academics, analysts and celebrities who show off their ability to understand this great stuff. Look at how these great minds spoke of ICOs with such great language and motivational talks. It fell flat with one government banning it. And there is no reason why other governments would allow such stuff. All these great tech minds have gone into hiding now. Ether will disappear and Mr Vitalik will go offline to learn about how real world is different from tech. Not sure he had time to go to college anyway.

The traders are experts in riding the waves of volatility, but the retail investors will be punished for their greed.

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Why bitcoin fails.

Bitcoin is variously compared to currency (similar to dollar) and asset (similar to stocks, gold). There goes the first reason why bitcoin could fail. Lack of target. Currency and assets are entirely different concepts. By being unclear in terms of what it wants to be, bitcoin fails the first test on its usefulness.

What's the big deal? It can be both, eh? Nope. You can't buy groceries using your MSFT stocks, for example, withoout converting your stocks into fiat currency first. Assets are not directly transferable in exchange of other assets or commodities. So bitcoin is not an asset or stock or even commodity.

How about we say that it is a currency, then? Nope, no luck here too. For being a currency such as dollar, it should be possible to enforce limits on the size of the transactions. Fiat cash withdrawls can be limited, and even be tracked becasue banks are involved. Already nations are facing problems due to black money and some governments even implemented demonitization to discourage cash transactions. Bitcoin goes in the opposite direction - facilitating the untracked money movement in large amounts. So, no, it is not a better solution for the role of currency.

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What is a business activity?
A business activity is a multi-party context in which value (goods/services, money) is exchanged according to some rules agreed upon by the parties participating in the business activity. The rules could be very basic ones such as who parts with their value first in an exchange. For example, a rule could say that the consumer pays first and the merchant ships the product/services after receivng the payment. In the context of this rule, there is a trust-related risk involved. Some well-known intermediaries such as amazon, ebay, alibaba reduce this risk for the parties involved, by means of providing some guarantees tied to the reputation of the intermediary.

Removing such intermediaries requires providing similar guarantees and dispute resolution in both ways of the value exchange (goods/services and payments). Certain new payment systems based on crypto technologies seem to claim that they can provide these guarantees. The purpose of this article is to assess how far this claim can be realized.

The real-world part of the business
First, let's look into the real world value transfer, that is, delivery of goods and services. Smart contracts are blind to the real world becasue they need to be run inside a sand-boxed environment and can't pull some information from the real world by themselves. However some real-world entity can feed the information about real-world events. Which basically means that the smart cotracts have to trust these real-world entities for truth, relaibility and availability of such information about real-world happenings.

Those real world truth-tellers which are sometimes called as oracles, would naturally be the well-known trust-worthy, good-old intermediaries, or some trusted roles specific to the business contet, that can make guarantees about the truth in their reports, availability, reliability and cost-effectiveness. These guarantees are direclty linked to the reputaion of the intermediary.

So, we are back to trusting someone from real world for telling a smart contract about the real-world happenings, much the same as the good-old web applications and services.

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But we have IoT
Can IoT change this scenario? IoT is about enabling things to directly send the real-world information to network, and possibly receive commands too. Can the sensor-enabled things play the role of oracles? Only as long as the sensors and identity of the things are accessible and are not tamperd with. Given sufficient value of the goods/things, these tamperings might become risk-worthy for the wrong-doers. Still IoT can't tell if the goods and servicecs are deliverd in good condition or not. The idenity of the goods can't derived from the uniqueness of the goods, similar to hashing of the digital content, making the identities difficult to verify.

The other part of the business - the payments.
Payments can't be seperated from the delivery of goods/services, because rules of the business tie them up together - one depends on the other. This means that payemnts need to be visible to the same intermediary which makes guarantees about the delivery of goods/services. It boils down to keeping the intermediary involved in the both flows of the value exchange. Thus, the first promise of the crypto technologies, that of remiving the intermediaries is broken in the full business context.

But hope is not lost. In the context of payments between the intermediaries and business partners, it might appear that further intermediaries such as banks and credit card companies can be removed. After ruling out other areas, this is the only area remaining for delivering on the big promise of the crypto initiatives. Let's look into this.

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Back to intermediaries in payments
First, we need to understand the role being played by the existing intermediaries in payments. They not only enable transfer of money, but also provide privacy for transactions. Your competitors and general public will not know about your transactions. Also they provide controlled visibility to authorities for regulation purposes.

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Privacy
There are two pieces of information related to privacy in payments - 1) the links between real world identities of the parties involved and their digital identitiies (credit card numbers or crypto addresses), and 2) the details of the transaction itself (amount, timestamp etc).

And there are two kinds of external people related to privacy - 1) the general public that includes business competitors, and 2) the authorities who have responsibility in tackling issues related to AML and funding of illegal activies.

The payments intermediary need to provide guarantees that 1) there is no visibility for general public about your transactions and 2) controlled/limited visibility is provided to authorities on the need basis. This is the requirement of transactions.

But isn't it the same with cash transactins?
For this to be compared to cash payments, which also do not provide visibility to authorities, the single btc transactions should not be running in millions of dollars worth. Even cash paymnets worth that much in a single payment will require to be reported to authorities in any country.

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Bitcoin fails on visibility requirements
While bitcoin network provides the first guarantee (your transactions may be visible but not your identity), it fails miserably on the second guarantee. There is no controlled visibility provided to the authorities.

Thus bitcoin network fails in the second flow of value as well, in being a payment platform that can play well in the state-controlled context.

Then let's use them as stocks or commodities
It fails even here. Stocks and commodities can't be used as currency and that facilitates assessment of profit/loss based on their purchase price and selling price. However btc can be transferred through a payment, making it difficult to assess the earnings.

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Conclusion
So, bitcoin didn't remove the intermediaries or trust-related risk in real-world value exchange and in payments. It has only worsened the situation by not being able to link the transactions with real-world entities. It also has not provided better dispute resolution as smart contracts can't judge the real-world context without depending on inputs from real-world sources.

After ruling out the business transaction space, btc can look into being valuable in vintage/ornamental space such keeping it similar to vintage coins or old postal stamps etc which are in even more limited supply.

[zoolz]

China and no other country in the world can "destroy" bitcoin. It's the biggest breakthrough in finance in history and it's here to stay.

[qwertyup23]

I donot understand what are going to on bitcoin?Bitcoin dumping  and dumping .Now bitcoin under 3600$ i think in this week its going to under 3000$.China can destroy bitcoin or ended this month.What your predict ?

Expect bitcoin prices to decrease by the end of the month due to China's banning of transactions relating to bitcoin. But compared to other countries, China is only ONE country compared to OTHER COUNTRIES who fully utilize and maximize the usage of bitcoin. There may be a market crash currently at China but by the end of the year, bitcoin prices will recover slowly. People right now are panic-selling their bitcoins and this results to an increase of the supply in the market, which explains the sudden drop of prices right now.

As many businessmen and investors said on various interviews and articles, they see bitcoin as a "bubble" which constantly grows but has an end to its potential and might soon pop. I relatively agree and disagree in way since we haven't fully utilize bitcoin's maximum potential currently.

[endlasuresh]

Their's nothing to do with chineese governance and the Bitcoin will be forever as people will use from worldwide. China may had something idea in their mind thats why they banned.

[cybersofts]

Bitcoin will surely survive China and all the issues that are affecting the bitcoin value because of the China's regulatory issues.
Bitcoin built certain benchmark in the world which lead financial freedom to lot of people. Bitcoin is a technology that help people exchange value from one party to another. Bitcoin is decentralized, fast and secure, and I see no way a single country like China can destroy it. I think that might merely affect the value of bitcoin for the few coming months.  

[willamddmaddy]

My conspiracy theory is that China wants reduce the price of bitcoin cash's price so their countrymen can buy at lower price. Then start promoting again.

[Naughtis]

I donot understand what are going to on bitcoin?Bitcoin dumping  and dumping .Now bitcoin under 3600$ i think in this week its going to under 3000$.China can destroy bitcoin or ended this month.What your predict ?

I dont believe that bitcoin will lose this month yes it can fall down again but its not destroy or end if you'll look the history of bitcoin you'll see the fluctuation of the bitcoin some times the bitcoin have a higher value and somethimes the value of bitcoin will be diminishing. But even now, we cant see that bitcoin is destroy or broke

[tweetbit]

China and no other country in the world can "destroy" bitcoin. It's the biggest breakthrough in finance in history and it's here to stay.

That is true, how come they can destroy something in the first place they never owned. It was just nothing but all hype and fud to make the traders panic and dump they're coin. In the end there price is low and they buy back. It is been a practice in markets for so long. And it looks normal to me, so for those being emotionally unstable right now about the price, drink a lot of water because it's still be on dip.

[loopes]

I donot understand what are going to on bitcoin?Bitcoin dumping  and dumping .Now bitcoin under 3600$ i think in this week its going to under 3000$.China can destroy bitcoin or ended this month.What your predict ?

the users of bitcoin is not only from china, don't you think when china banned bitcoin transactions at the end of this month, Bitcoin will also end together with that. Bitcoin 's users spread from whole the world and i believe that they are stronger and bigger  than china government regulation about banning bitcoin. they will do everything for bitcoin keep exist.

[allthingsluxury]

Bitcoin was destined for a massive pull back, as I was stating. Nothing, absolutely nothing ever goes up in a parabolic straight line forever. Does this spell the end for BTC? Of course not, eventually it will move higher once again. Just like gold and silver.

[salahfycl]

Frankly all that is said about this is nothing but mere analyzes and indicators In my opinion and I think that Bettkwin will rise in price for this and then will fall to a price settles it, but in any case determines this is The amount of protein available in the market Order quantity These two processes, the opposite of each other means that the amount of existing with the increased demand for them increased the price of protein and rose and vice versa lower price

[iamTom123]

I donot understand what are going to on bitcoin?Bitcoin dumping  and dumping .Now bitcoin under 3600$ i think in this week its going to under 3000$.China can destroy bitcoin or ended this month.What your predict ?

China can all weaken the Bitcoin market because they are also significant player here in Bitcoin but ultimately am sure that Bitcoin will be able to survive. This is not the first time that Bitcoin made a very dramatic downturn and this might not be the last but at the end of the day we will still have Bitcoin rising from the ashes.

The future belongs to Bitcoin and there are forces right now who are not sharing that vision because they can be affected and so they are trying to push Bitcoin aside. We will know which side would eventually take the center stage later...we just hope it would be Bitcoin and not the other forces.

[Carlsen]

It is a big problem that many newcomers to bitcoin in the past few months are not very familiar with speculative investments.
They are/were used to is to see an increase of price, and only that. And if you looked in the media, that's what most of them reported about.
Now they see something they ar not used to: a decrease of the price. And already phantasies occure about the worlds end.
No, it's not the worlds end. It's not the end of bitcoin, and it will not even be the end of bitcoin in China.
All we have is a normal movement of a speculative investment.

[perla]

My conspiracy theory is that China wants reduce the price of bitcoin cash's price so their countrymen can buy at lower price. Then start promoting again.

lol  but it is true, too many times china use this strategy to make btc price dumped but it is work. maybe need to hold longer time so btc can back to rise again

[Baofeng]

My conspiracy theory is that China wants reduce the price of bitcoin cash's price so their countrymen can buy at lower price. Then start promoting again.

lol  but it is true, too many times china use this strategy to make btc price dumped but it is work. maybe need to hold longer time so btc can back to rise again

Only option is too really hold on our bitcoin after this deluge that we are facing. I don't know if your conspiracy is true, but everyone loves to buy in dip so I'm expecting that a intelligent investors would enter the market right now because the price is too cheap. It just sad to see that after the Aug 1 split bitcoin price was not deter by it but the opposite had happen. Then China and all their shenanigans started to pull back the price because they are now waging war on bitcoin buy banning ICO then now closing local exchanges. But someone like Japan can really step up and continue to buy more bitcoin to offset this panic.

[daenarys_stormborn]

I do not think bitcoin will die, but in this situation it is only natural that bitcoin decreases drastically, because China is the number one country in the world with the densest population. and very many people there use bitcoin

[HashFace]

For some perspective ... Bit coin was $600 just 12 months ago, and bottomed around $1800 two months ago.... At $3600, it's still about 2 times higher than it was 2 months ago, and about 6 times higher than it was 12 months ago....

I'm not trying to be a sunshine pumper ... I dont think we've hit bottom yet, and I don't know if this is a quick correction or the start of a multi-year bear market, but so far long term holding is still paying off.