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Author Topic: Bitcoin: Rising or Falling?  (Read 1606 times)
Stedsm
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December 07, 2017, 10:34:25 AM
 #1

Friends,
Try to literally understand the depth of my words as to what I tried to say here. This is not a speculative topic at all, so all those speculators please stay away from this thread.

The issues we were undergoing with the holy spike in the value of Bitcoins as well as its demand that grew so hard that it became unavailable for the network to welcome the newcomers as well as their transactions - SCALABILITY OF BITCOINS.

Are we near to a new era or an end? We put our trust and support Bitcoins just because we are able to transact freely any time and from anywhere.

But I guess it's not the same anymore, even after the SegWit, things have just stabilized quite a bit but I really don't think that if it goes the same way, we will be able to cope up with the demand that will surge highly after the whole world's ends meet and decide to start using Bitcoins at an extremely wider pace. Let's talk about the fees - we were never ought to spend more than a buck before when it used to be 500 - 1k a coin (I really don't have any problems with the price rise as it's for the good of Bitcoins anyways), but after the spike, we are only seeing the fees rise and sometimes we even need to pay the whole amount of fee, sometimes even higher than the total transaction amount that's being sent. And the worst thing - even though after paying those high fees, we still don't get results as expected, we don't get our transactions taken in those blocks that just come and go and we just keep calm and wait harder and patiently that next one will take it, and repeat the same after the next one also ignores our transaction.

Don't you think this should not be the scene with Bitcoins? I am not in support of any so-called hard forks and will probably never be.
I just want Bitcoin to gain its image back as it used to have - Cheap and quick. Cheap - for transactions part and Quick - for confirmations.

I don't know what initiative is to be taken, but I really care for Bitcoins because it took care of everyone.

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miracle_07
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December 07, 2017, 10:50:59 AM
 #2

The bitcoin is rising because of too many peoples to work or eran money
ETFbitcoin
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December 07, 2017, 11:14:26 AM
 #3

I agree, bitcoin price, popularity and adoption growing fast while scalability of bitcoin isn't solved yet. However, bitcoin is still rising and scalability will be solved when LN is ready and more people/service use SegWit Smiley
In fact, according to this news (Source), we might able to see LN as beta feature in mainnet and users can try it with small amount Smiley
Also, block size increase is possible when most nodes are able to handle bigger block size and majority of the community agree, even though i'm sure it won't happen anytime soon.

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December 07, 2017, 01:11:24 PM
 #4

On the one hand, the value of bitcoin experiencing surges indicates an increased strength of bitcoin such as cryptocurrency,
whereas the current bitcoin price increase is actually not rational, because it feels like inflation.
Because the Bitcoin community fails to find a solution - not just a short-term solution but also a permanent solution to Bitcoin network conditions.
As a result transactions sent to the Bitcoin network are delayed, not just in minutes or hours, even days.
Worse yet, circumstances like this will form an "unhealthy" competition between bitcoin users.
And will increasingly make transaction costs more expensive, because the users expect with a high cost, the transaction process will be faster, but it does not affect, in my opinion.
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December 07, 2017, 01:57:43 PM
 #5

I think its clear that the value of bitcoin is rising due to the influx of positive headlines regarding BTC as an investment opportunity.

There are hordes of new investors jumping on BTC, this is obvious as the backlog of transactions is currently insane, with even high fee transactions taking hours to confirm.

Jump in now, or regret it when it hits $20k.


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hasmukh_rawal
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December 07, 2017, 02:23:35 PM
 #6

I do agree with you as I feel Bitcoin will lose its value if the above issues are not solved quickly. Bitcoin is indeed not the same as it was a few years ago. The growth of Bitcoin can be considered as a strong support from the holders but then the transaction issues will create further problems and then holders might find it difficult to trust Bitcoin. The lightning network is the only hope foe the holders and can be able to solve the issues. I do strongly support Bitcoin and want it to solve the issues quickly but I guess there are more haters in this forum who want BTC to drop in price and that's why they are spreading FUD here.

MystikalE
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December 07, 2017, 02:25:51 PM
 #7

Bitcoin rises because people hear about it, invest and think its easy money.
Bitcoin's fees are crazy as the avg is around $25.
MerlinPower
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December 07, 2017, 03:51:03 PM
 #8

Bitcoin rises because people hear about it, invest and think its easy money.
Bitcoin's fees are crazy as the avg is around $25.


Fee around $25 is not too much if you making like $1k.
And its not so easy money. It can fall down, just as well as rise to $20k per BTC.

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TechPriest
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December 07, 2017, 04:52:10 PM
 #9

I agree, bitcoin price, popularity and adoption growing fast while scalability of bitcoin isn't solved yet. However, bitcoin is still rising and scalability will be solved when LN is ready and more people/service use SegWit Smiley

Steam abolished bitcoin payments and now you can't buy games with Bitcoin. I don't see many shops which accepted bitcoin. Not small shops, but shops which sells cars, flats and other high price staff. It's bad and strange. Bitcoin price looks like a real bubble.

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December 07, 2017, 10:02:18 PM
 #10

It will rise as long as the pace of adoption continues to increase, there is only 20 million bitcoin wallets today, there is definitely room to grow...
Not to say that it won't have wild swings in price.
Many people calling the rise parabolic and comparing to the S&P 500 stock index, or gold...But they have the wrong base of comparison.
All innovations have parabolic rises as the population catches up to the new normal.
Eduardo Saverin paid 15,000 USD for 30% of Facebook. The company is work $500,000,000,000 today..

pass it on Smiley


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ErjayR15
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December 07, 2017, 10:11:31 PM
 #11

The bitcoin is rising because of too many peoples to work or eran money

Bitcoin is rising up because some person with big pockets of money are buying BTC. And now we are waiting BTC Fjuchers which will be listed in some Exchanges, because it will make bitcoin price more stability.
Stedsm
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December 08, 2017, 10:28:31 AM
 #12

Bitcoin rises because people hear about it, invest and think its easy money.
Bitcoin's fees are crazy as the avg is around $25.


Fee around $25 is not too much if you making like $1k.
And its not so easy money. It can fall down, just as well as rise to $20k per BTC.

Just think of it, would you really feel happy paying enormous amount in fees, still waiting to get your transaction being taken in a block under the mercy of miners who just ignore it one by one? Can you please check that day-by-day, situation is getting worst because the number of unconfirmed transactions has been breaking records with the value of course. I'm extremely happy with the rise in it's value, but would you really take it that your transaction gets stuck in the mempool for like days to get confirmed?

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December 08, 2017, 01:21:43 PM
 #13

In my opinion there will be a moment that this will rise more and then many people will start to sell but i don't know when this will happen, i think not yet
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December 08, 2017, 02:52:56 PM
 #14

Bitcoin is gradually rising these days or the following days. Successively, Bitcoin's value is increasing, the user increases as well. though many users of bitcoin, mining, gambling, investing or what-so-ever. Bitcoin will rises over generation, according to networking websites that involves Bitcoin, its all about 70% that it will rise as it is hard for a starter to earn cryptocurrency(bitcoin). In the other side, people finds easier or in mind thinking that the other cryptocurrency is much better than Bitcoin, but out-knowing, Bitcoin is gradually rising overtime. Smiley
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December 08, 2017, 05:22:11 PM
 #15

The numbers of people using bitcoin had increased tremendously in recent times resulting in the surge of the price and moreso the rising price is likened to speculation rather than it's fundamentals after all there is no upcoming hardfork although the bubble had halted and presently falling back (correction).

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December 08, 2017, 08:34:54 PM
 #16

In my opinion there will be a moment that this will rise more and then many people will start to sell but i don't know when this will happen, i think not yet
It takes a million guess to know when will be the next drop of Bitcoin because if you look at the price right now it exceeded the expectations of all the users here. If you think it simple you might think that Bitcoin never really rise due to the high fees but instead it is falling. I wonder how those other traders manages to trade without having a problem about of the fees because for me it is a pain in the ass to trade with such a small amount. The fees are killing your Bitcoin slowly to the point that almost nothing will left to you.

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December 09, 2017, 12:07:39 AM
 #17

It's not really going to fall, it's just recieving quite the kick because of more media exposure. Granted the increase in price for bitcoin is a bit unsettling, especially for the extra wary bitcoin investor, but it's better to invest now than later, it's going to be a pain for beginners when this baby hits more than 20k in price.

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December 09, 2017, 07:22:11 AM
 #18

BITCOIN WELL RISING DUE TO MANY PEOPLE WORK ON IT
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December 09, 2017, 07:38:54 AM
 #19

I think its clear that the value of bitcoin is rising due to the influx of positive headlines regarding BTC as an investment opportunity.

There are hordes of new investors jumping on BTC, this is obvious as the backlog of transactions is currently insane, with even high fee transactions taking hours to confirm.

Jump in now, or regret it when it hits $20k.
got it right mate,its the popularity issue of bitcoin because of mas
advertisement everyones doing..while the real problem inside wasn't anticipated,
the high transaction fees and the slow moving of sending and receiving.

I believe if time comes that bitcoin price drops this will be addressed

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December 09, 2017, 07:54:41 AM
 #20

I think bitcoin will continue to increase as people around the world begin to know and invest in it. and today many companies are developing bitcoins. so I would say bitcoin will go up

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