[2018-07-06] BTC to 'rise' as 90% of other cryptocurrencies 'fail or DIE'

[ruthbabe]

BITCOIN couldn't maintain yesterday's momentum overnight, but wallet holders will be encouraged by BTC hitting a high of $6,710, and broadly heading north, not south. Bitcoin has now been forecast by a panel of experts to rise 18 percent by August 1st.

Warning - cryptos will 'DIE'

Evgeny Chereshnev, CEO and founder at Biolink.Tech has told Express.co.uk that bitcoin's future is as a means of payment, and not as a investment.

He said: "Cryptocurrency is just a set of numbers, in the same way as money is just a piece of paper until it’s accepted as payment. When these sets of numbers are accepted by someone as payment, it changes everything."

More here, https://www.express.co.uk/finance/city/984756/Bitcoin-price-rise-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news-die-dead

[1715372297]

1715372297

[1Referee]

LN will be the trigger for Bitcoin's currency aspect.

Some people as counter argument tend to say that LN isn't you transacting in Bitcoin, but what are you transacting with when you are using your debit card or banking app? You aren't actually using the underlying asset, but just a layer that is meant to tackle scaling issues. The only way for you to transact with the underlying asset in fiat is to conduct cash transactions, everything else is just based on layer technology. That's what makes fiat such a great payment tool, and the same goes up for Bitcoin with a widely deployed LN.

On-chain transactions and other data storage = slow but guaranteed death for decentralized incentives.

[hatshepsut93]

Some people as counter argument tend to say that LN isn't you transacting in Bitcoin, but what are you transacting with when you are using your debit card or banking app?

That's just a FUD or lack of understanding how LN works, because LN transactions are actually the same transactions that we use on-chain, but they are not broadcasted to mainnet nodes, instead only LN nodes that are connected by a channel keep track of them, and this what makes LN scalable - nodes no longer need to store transactions of the whole network. So, LN funds are not some IOU's, or banknotes, or other abstractions that rely on some party to honor the agreement, they are real Bitcoins that can be claimed on mainnet by closing the channel, which means broadcasting the latest transaction of a channel. IMO this solution is so much better than all these centralized coins with a handful of big nodes that need to be trusted.

[1Referee]

IMO this solution is so much better than all these centralized coins with a handful of big nodes that need to be trusted.

Yup. BCash nodes are with a very high probability for at least 75% controlled by one entity/group.

Bitmain on its own also has enough stagnant gear to completely add another 5000PH to that network (BCash's total network power is around 5500PH currently), and they already control over 50% of it right now. How would people call such an attack, a 99% attack? It doesn't come as a surprise that scalability decisions and proposals are always accepted right away with 100% support. As long as that is the case, they don't have to attack the network, they can shape and toy with it at any moment of the day. 

Anyone supporting that crap is anti everything that Bitcoin stands for.

[sunnygirllenka]

hello)

[Theb]

18% by August is achievable considering how much we already lost ever since the start of 2018. This kinds of price forecast are something of a sure shot as we are still seeing Bitcoin on having a bullish momentum also considering what other cryptocurrencies are experiencing in the market. We must keep in mind that this short price rallies or small bull runs is not what we are after if we consider ourselves as investors of Bitcoin but if you consider yourself as a trader this short price rallies are potential selling points for short trading and we can pick up BTC back again at a lower price.

[TraderTimm]

In financial terms, Lightning transactions are secured collateral - not even "loans" in the technical sense, because you can't pledge more than you actually own to a channel.

It will most definitely change the face of finance, and in some ways it already has.

Onward and upward - Lightning reminds me of the early days of the internet, and its growing quickly.

[timerland]

Firstly, I don't buy what the "panel of experts" are saying with the prices going up 18% in their forecast of August. Simply no proof, and the bitcoin market is just too volatile to put such a specific, discrete value gain/loss on it.

I agree that bitcoin will be used as a means of payment, as it was supposed to be used as in the beginning more and more in the future. However, it'll be hard to say that bitcoin will all of a sudden not be an investment. Even major fiat currencies such as USD can be viewed as an investment depending on the purpose that one uses them for.

The title is somewhat misleading of what the content actually states, but it's actually strikingly accurate in my opinion. Most cryptocurrencies right now are just here to gain investor funds and make the founder rich, while serving no apparent purpose or solving a nonexistent problem to begin with. I'm only confident on bitcoin going mainstream for the long run at the moment.

[JMorrison]

It's hard to predict the specific value of Bitcoin as it fluctuates rapidly everyday. This is the same for most cyptocurrencies though and it depends on the investors and whether or not they will want to invest in them.


This is why companies like Baanx and Binance called cryptobanks, let you insure/save/secure your cryptocurrencies that you have bought instead of worrying about it's fluctuating price.