Did Bitcoin SV caused mid november bitcoin collapse?

[KingScorpio]

Bitcoin SV looks like an important factor in the recent bitcoin collapse,

it is basically targeting east asian investors (dragon logo, satoshi vision title)

and it came out around that time.

if this continues bitcoin is basically doomed a decentral currency as i expected to be shadowed away in marketing attention.

society will then return to lasting centralised currencies.

again, like it was the norm for milenias.

regards

[1714114545]

1714114545

[franky1]

no..

new gen asics were designed over summer. they started getting tested over autumn. they had to get rid of obsolete old hardware for 2 reasons

1. they didnt want to push the hashrate up to shotself in foot with large hashrate/difficulty too fast
2. its better to get rid of old hardware while it still had a few months value left in the hardware

so they sold the hardware to the social dramatists of the altcoins known as craig wright.

asic manufacturers and private investors knew 'mathematically' (on paper) they should try to declare a loss(tax deductibles are good) for this year to then start a fresh tax year in profit. so more reason to not push things. and instead for every 3 asics taken offline put just one next gen online for cough quality assurance cough purposes.

this meant it would avoid drama from the crowds shouting omg poolX has too much hashpower on bitcoin

this resulted in them lowering the hashrate but still able to make blocks in a reasonable time and make profit. so able to sell profitable and also using the coins they gain from selling the hardware both old tech and new. they had excess coins to sell
now they can mass produce rigs ready to ship (christmas week)

so hashrates drop and profitable to sell coins for one group. .. while other pools were not profitable so they took their rigs offline. thus bringing the curve down further.

also private investors that locked coins up from mid november 2017 got them unlocked mid november 2018 (that also amplified the shift down)
and thats what happened on the bitcoin network
.........

meanwhile totally and separately.
those altcoiners were gaining asics(old gen) dirt cheap but unsure what to do with it all.. so playing off the october bitcoin drama they decided to try making out they had sway and fame and prominence by starting some drama/distraction to hide whats really going on behind bitcoin and distract people with some nonsense altcoin drama as if the altcoin drama is of importance..
th altcoin drama was of no importance and no impact. it was just a distract for 2 people to just get some minutes of discussion fame and fake glory

[KingScorpio]

no..

new gen asics were designed over summer. they started getting tested over autumn. they had to get rid of obsolete old hardware for 2 reasons

1. they didnt want to push the hashrate up to shotself in foot with large hashrate/difficulty too fast
2. its better to get rid of old hardware while it still had a few months value left in the hardware

so they sold the hardware to the social dramatists of the altcoins known as craig wright.

asic manufacturers and private investors knew 'mathematically' (on paper) they should try to declare a loss(tax deductibles are good) for this year to then start a fresh tax year in profit. so more reason to not push things. and instead for every 3 asics taken offline put just one next gen online for cough quality assurance cough purposes.

this meant it would avoid drama from the crowds shouting omg poolX has too much hashpower on bitcoin

this resulted in them lowering the hashrate but still able to make blocks in a reasonable time and make profit. so able to sell profitable and also using the coins they gain from selling the hardware both old tech and new. they had excess coins to sell
now they can mass produce rigs ready to ship (christmas week)

so hashrates drop and profitable to sell coins for one group. .. while other pools were not profitable so they took their rigs offline. thus bringing the curve down further.

also private investors that locked coins up from mid november 2017 got them unlocked mid november 2018 (that also amplified the shift down)
and thats what happened on the bitcoin network
.........

meanwhile totally and separately.
those altcoiners were gaining asics(old gen) dirt cheap but unsure what to do with it all.. so playing off the october bitcoin drama they decided to try making out they had sway and fame and prominence by starting some drama/distraction to hide whats really going on behind bitcoin and distract people with some nonsense altcoin drama as if the altcoin drama is of importance..
th altcoin drama was of no importance and no impact. it was just a distract for 2 people to just get some minutes of discussion fame and fake glory

what was the role of the cryptoindex mafia listening bitcoin sv directly into the top of the index?

is the market still unaware about that scam they are running?

[franky1]

what was the role of the cryptoindex mafia listening bitcoin sv directly into the top of the index?

for the same reason as you and many others.
even though there are 2000 coins..

because you gave a crap. because others gave a crap.. it brought attention to the crap.
if no one tweeted about or talked about the crap. then people would see it as crap where they would
not care about the crap and it would have not gotten any attention

i dont mean you give a crap as in you care about it.
i mean even now a month later your stil talking about something and asking questions about it.

is the market still unaware about that scam they are running?

even scams remain alive as long as people advertise it and it then shows pump and dump profitability.
thus self perpetually reviving itself the more its talked about.
best option is dont talk about it dont get curious about it, and let it fizzle out

[KingScorpio]

what was the role of the cryptoindex mafia listening bitcoin sv directly into the top of the index?

for the same reason as you and many others.
even though there are 2000 coins..

because you gave a crap. because others gave a crap.. it brought attention to the crap.
if no one tweeted about or talked about the crap. then more people would see it as crap
not caring about the crap and it would have not gotten any attention

i dont mean you give a crap as in you care about it.
i mean even now a month later your stil talking about something and asking questions about it.

is the market still unaware about that scam they are running?

even scams remain alive as long as people advertise it and it then shows pump and dump profitability.
thus self perpetually reviving itself the more its talked about.
best option is dont talk about it dont get curious about it, and let it fizzle out

look i hope cryptoindexmafia reads this here:

cashing out on speculators with regulary new listed coins will not develop cryptoindustry anyhow, you have to build structures, people can trust in. i opened a threat in project development regarding that.

all bitcoinsv speculators will lose and fail same like, bitcoin cash, bitcoin, bitcoin gold, bitcoin diamond, zcash and dash speculators, since its just fundamentaly making money out of hoping speculators.

sooner or later you will lose so much trust that you will have no option but to start working serious.

bitcoin SV -> will be fail.

[seoincorporation]

We can say it was for a lot of facts together, yes, the fork was one of them, but the miners was another fact. Just in that months, we see how 200,000 btc moves. Theories say it was miners getting out of the business, but that means $1000 million out of the market. I can't find the second transaction but this was the first one:

https://www.blockchain.com/btc/tx/1ee11c8a24c9244f14c4d5a9c3670c13664f4ae8f7738c31b4f21221a5bdfbd1

109,232.32987556 BTC

So, as i say, was multiple factors together.  or as I say, it rains over wet floor.

[pooya87]

nobody is targeting anything. there are always people who want to earn money from bitcoin and its popularity. some choose to invest in it, some others want to earn a lot more  and do things such as using its reputation to make money like a parasite. bitcoin-sv was the later. it was created so that they could make a lot of money in a very short time although they also have long term plans to milk this.

all the while there are others who are looking for an opportunity to buy cheaper bitcoins and drama has always been what they loved. the market also reacts positively to this type of incidents. hence the price drop.

Theories say it was miners getting out of the business, but that means $1000 million out of the market. I can't find the second transaction but this was the first one:

https://www.blockchain.com/btc/tx/1ee11c8a24c9244f14c4d5a9c3670c13664f4ae8f7738c31b4f21221a5bdfbd1

you could have said that only if those coins were actually newly generated coins that are gained from finding a block not regular transactions which look like an exchange hot wallet!

[KingScorpio]

nobody is targeting anything. there are always people who want to earn money from bitcoin and its popularity. some choose to invest in it, some others want to earn a lot more  and do things such as using its reputation to make money like a parasite. bitcoin-sv was the later. it was created so that they could make a lot of money in a very short time although they also have long term plans to milk this.

all the while there are others who are looking for an opportunity to buy cheaper bitcoins and drama has always been what they loved. the market also reacts positively to this type of incidents. hence the price drop.

Theories say it was miners getting out of the business, but that means $1000 million out of the market. I can't find the second transaction but this was the first one:

https://www.blockchain.com/btc/tx/1ee11c8a24c9244f14c4d5a9c3670c13664f4ae8f7738c31b4f21221a5bdfbd1

you could have said that only if those coins were actually newly generated coins that are gained from finding a block not regular transactions which look like an exchange hot wallet!

you guys will fail, you dont create substance, you simply try to cash out stupid speculators, bitcoin sv's design is practiallcy looking to me that it is just targeting east asian speculators.

start building substance, or you will lose everything build so far.

[franky1]

look i hope cryptoindexmafia reads this here:

probably better you hope they dont.
you do realise in all my wall of text in first reply i never named the altcoin.
yet you have made a topic naming them and in each most named it again. and again

the website crpto index picks up on discussions about certain things and if a coin is named multiple times it gets flagged as being potentially popular.

so the more you mention it the worse it gets toward what you actually want. which is for it to fizzle out.
so stop talking about it.

Just in that months, we see how 200,000 btc moves. Theories say

https://www.blockchain.com/btc/tx/1ee11c8a24c9244f14c4d5a9c3670c13664f4ae8f7738c31b4f21221a5bdfbd1

109,232.32987556 BTC

So, as i say, was multiple factors together.  or as I say, it rains over wet floor.

multiple factors:
mining decisions of october to start swapping out asics and start testing new rigs, and not wanting to raise the hashrate.
other pools reacting to it.
and then the private investors unlocking funds from 2017. (unrelated to tx in quote)

the movement of those coins in the quote is nothing new. and nothing to do with the year long unlock of funds from november 2017,,,
the coins movement pattern of the coins in the qoute happen many months of the year. but when some who only has a few $$ to their name sees hundred of millions move. the shock, sends them into a spiral of needing to talk about it.

its like right now apple moves huge sums. but if some person managed to record one of apples regular payments. and then asks about it on reddit.. suddenly a storm of speculation chatter begins about apple doing something big or apple must be moving country or other twaddle. when infact thats just apples staff grocery bill for the week

those funds were nothing special. its just one newbie got over excited seeing a large transaction for THEIR first time and thought it must be something news worthy. those funds were just an exchange re-organising their reserves like they do regularly.. thus its about as news worthy as a janitor coming into an office to sweep the office floor

[KingScorpio]

look i hope cryptoindexmafia reads this here:

probably better you hope they dont.
you do realise in all my wall of test in first reply i never named the altcoin.
yet you have made a topic naming them and in each most named it again. and again

the website crpto index picks up on discussions about certain things and if a coin is named multiple times it gets flagged as being potentially popular.

so the more you mention it the worse it gets toward what you actually want. which is for it to fizzle out.
so stop talking about it.

Just in that months, we see how 200,000 btc moves. Theories say

https://www.blockchain.com/btc/tx/1ee11c8a24c9244f14c4d5a9c3670c13664f4ae8f7738c31b4f21221a5bdfbd1

109,232.32987556 BTC

So, as i say, was multiple factors together.  or as I say, it rains over wet floor.

the movement of those coins is nothing new. it happens many months of the year. but when some who only has a few $$ to their name sees hundred of millions move. the shock, sends them into a spiral of needing to talk about it.

its like right now apple moves huge sums. but if some person managed to record one of apples regular payments. and then asks about it on reddit.. suddenly a storm of speculation chatter begins about apple doing something big or apple must be moving country or other twaddle. when infact thats just apples staff grocery bill for the week

those funds were nothing special. its just one newbie got over excited seeing a large transaction for THEIR first time and thought it must be something news worthy. those funds were just an exchange re-organising their reserves like they do regularly.. thus its about as news worthy as a janitor coming into an office to sweep the office floor

i doubt these guys will survive the negative consequences that are happening in the market,
market will rip them appart, bitcoin sv (cashing out speculators) will be another disappointment damaging their legacy.

i don't trust them and i dont believe they want or are able to develop structures into the cryptoindustry just cash out speculators.

so i am not afraid pointing out being in conflict with them. i simply came to late, with cpro, the tolerance to add cryptoprojects changed quickly it was once much easier to list stuff than nowadays.

the fact that ripple will soon become rank 1 cryptocurrency in their index (after bitcoin collapse) will make it worldwide visible that current asymetric cryptorating is 100 about us dollar based corruption.

[seoincorporation]

you guys will fail, you dont create substance, you simply try to cash out stupid speculators...
...
the fact that ripple will soon become rank 1 cryptocurrency in their index (after bitcoin collapse)...

Damn, all this knowledge, we should just shut up and let the wise guys talk their shit. 

If you really think ripple will become rank 1 let me tell you something, that coin doesn't even have a core, try to download it and run your own node, guess what, you cant!, so, how a shitty coin like ripple will become a rank 1? and after bitcoin collapse, that will happen only in your dreams bro. Sorry for the bad news. Sometimes the truth hurts.

[coolcoinz]

the fact that ripple will soon become rank 1 cryptocurrency in their index (after bitcoin collapse) will make it worldwide visible that current asymetric cryptorating is 100 about us dollar based corruption.

Xrp is not Ripple and Ripple is not a token, it's a brand.

XRP is not Ripple, and Ripple is not XRP. That’s the message from The Hatch Agency, a PR firm that represents Ripple – the technology company.
XRP is an “independent digital asset” according to the email, echoing an earlier tweet from Ripple.
Over thousands of articles, images, posts and statistics, across hundreds of publications, the two brands have been functionally indistinct since the inception of the XRP token (‘XRP’ harkens to ‘RXRP’, the ‘Ripple Transaction Protocol’). Today, however, there is a clear line between them. XRP is not Ripple.

XRP is not a cryptocurrency, it's a "bridge currency", therefore your point is invalid.

The Company aims to make the XRP a “bridge currency.” They expect more financial institutions to come on board to use it in cross-border payments at a cheaper and faster rate. The company also has a larger control over the currency, making it more centralized than a cryptocurrency should be.

Also, I wouldn't count on a centralized token to overtake Bitcoin. There's no competition here. Saying that XRP is better than BTC is like saying that a car is better than a motor boat.

[mk4]

Not necessarily, I think. Bitcoin SV did had an effect on the price, but I don't think it necessarily caused the "collapse". If anything, it probably just dropped the price by a bit due to n-Chain needing to sell some bitcoin to fund their miners(which Craig S. Wright claimed himself).

Anyway, whether or not it caused the "collapse" or not, I don't see why it makes bitcoin "doomed". It just dropped the price temporarily, and nothing else.

the fact that ripple will soon become rank 1 cryptocurrency in their index (after bitcoin collapse) will make it worldwide visible that current asymetric cryptorating is 100 about us dollar based corruption.

If bitcoin drops in price, XRP(not ripple) goes down with it, and I don't see that changing any soon.

[manfredmann]

Well yes this is one of the reason for the market crash because many were pulling out their investment on this crypto which relatively scared other to hold their crypto even BTC. This could be also probably just a drama so that team could take away the money from the investors of the crypto especially the BCH wherein a huge market price drop happen.

[Indamuck]

I firmly believe the bitcoin cash war between ABC and SV is what caused the market to tank.  Calvin Ayre and other whales were dumping massive amounts of bitcoin in order to fund their hash war.  This whole thing caused a cahin reaction of panic for crypto investors and resulted in more and more dumping.  ABC is the clear winner at this point with almost twice the market cap of Satoshi's Vision.

[nianastasia62]

I, too, believed that bitcoin SV will be an enemy factor but now I see the recovery of bitcoin and I think that now no one can affect the price !

[kelz1]

I still don't know why anyone will bother to buy these shitcoins. Even litecoin is a better purchase and it does the same thing as ABC and SV. All 3 are the same type of coin, a faster wannabe bitcoin

[KingScorpio]

I still don't know why anyone will bother to buy these shitcoins. Even litecoin is a better purchase and it does the same thing as ABC and SV. All 3 are the same type of coin, a faster wannabe bitcoin

well they know bitcoin is in survival mode, and hope they can make a ton of money by attacking it, and replacing it.

[pixie85]

It's possible that the split added fuel to the fire of our downtrend. BCH and SV supporters were holding a lot of Bitcoins before the split and if they wanted to pump their own coins they could sell some of that and buy the coins that they were supporting. Craig Wright at least was vocal about it and he probably sold some to pay for SV mining.

[franky1]

It's possible that the split added fuel to the fire of our downtrend. [altcoins] supporters were holding a lot of Bitcoins before the split and if they wanted to pump their own coins they could sell some of that and buy the coins that they were supporting. Craig Wright at least was vocal about it and he probably sold some to pay for [altcoins] mining.

[altcoins] =removed reference to certain coin names to not let the topics point of a certain index finding references of certain coins being speculated more than usual in topics

anyways
there was no volume of arbitrages of markets. or correlation to show any trend that the bitcoin price downfall was due to the altcoins.

there is a correlation that the mining hashrate decline in october due to selling off old S9's before new S15's took over on some pools

there is correlation that the mining hashrate decline in october played out a mining:market dynamic of decline in november.
there is correlation that the a buy up of coins in novmber and a sell off of coins in november 2018 had an impact