The truth about the 20k bitcoin last year

[Febo]

Lets face it- BTC is total worthless- its garbage and you cant use it for anything

I dont know what hole you are living in. I am using Bitcoin to buy stuff for years. I dont buy coffee or pay bills with it, but I mainly buy bigger stuff like furniture or appliances, ...

If you have any "worthless" BTC please send it to me. I will turn it into some nice stuff. Will send you a picture after i buy them.

[1715461468]

1715461468

[1715461468]

1715461468

[1715461468]

1715461468

[Supercrypt]

From someone who starts the post with "bitcoin is worthless and its garbage" with an username like "fuckcrypto", I am inclined to think this post was made by someone who lost a lot of money in crypto. Either because he bought at the peak and now in debt a lot or he bought early and sold quite early too. I think the first one makes more sense.

The truth about 20 thousand dollars was that too many people suddenly became interested in bitcoin. We increased from 3 thousand to 9+ thousand dollars quite quickly which got attention from all over online and people from everywhere started to buy into bitcoin and other altcoins, people who have been here for YEARS known some coins and even their founders whereas these new people reacted to big coins like dash/iota/ripple and so forth like they just found something super secret and could get them rich.

Hence, that hype eventually died and so did the price of bitcoin. That is the whole reason for that price and the bear following that.

[cellard]

Please point me to an altcoin that isn't PoW that is more secure than Bitcoin, or point me to a non-PoW altcoin that is more secure than Bitcoin and I will dump Bitcoin and buy that altcoin.

unfortuantely, the security of different consensus algorithms can't be compared in a concrete way. with POW, we can estimate the current hash rate and determine the cost of a majority miner attack based on hardware and electricity costs. with POS, the cost of attack is a lot more hazy. we don't know which entities control how much stake or who they might be colluding with, and on top of it, we'd have to do a lot of guesswork re: exchange and OTC liquidity. the big problem in POS is collusion and it's really hard to place a number on the risk that collusion-based majority staker attacks will occur.

the other problem regards tradeoffs that users/investors are willing to make. if POS could offer much cheaper---albeit less secure---transactions (because the effective cost of publishing transactions approaches zero), couldn't that make it worthy to some people, particularly those looking for a medium of exchange? could it be worth it for some people from an environmental perspective, assuming a POS system provided some level of security?

Well, that is even worse. The cost of 51%ing a network should be in the clear at all times, just like everything else on Bitcoin is in the clear and open sourced, the status of the security of the network is just another part that must be transparent.

With PoS as you said, we have no idea if there's a cartel secretly pulling all the strings, and given the fucked up distribution of coins in most coins, I wouldn't doubt that. When ETH goes PoS we'll see what happens, because the ICO was like 80% held by devs or something crazy like that.

Also as far as I know the nothing-at-stake problem was never solved and we have previous disasters of PoS like NXT.

As far as PoW alts we have 51%'s everyday. Just today ETC got 51%'d apparently. PoW outside of the strongest network (Bitcoin) is just pointless.

[btc78]

Well if bitcoin is really a garbage.for sure you will never spend your precious time just to create FUD arent you?Stop being stupid mate because ethereum is just another shitcoin that has no future value.cant you see how did the ripple overtook the second position for 3 consecutive times last year.?hope thats enough reason for you to stop this nonsense lol

[Slow death]

majority of people bought BTC than traded it for ETH and than investing in eth ICOs

this probably contributed a lot to the price increase we saw at the end of 2017

BTC fanboys- your coin is garbage and noone can use it for anything- the only reason it had any usage was in the beginning when people used it to buy drugs on the darknet but other than that- screw bitcoin

and even lightning cant save this crap

So you think the $ 4000 price per bitcoin is too little? do you think bitcoin should only continue to increase from price to infinity?

[bitbunnny]

Let's just not bother with such comments.
We are all aware that some users are here only to get attention and don't have any constructive contrubution to forum. But the goal is completed, everyone is writting their comments. On the other hand everyone has the right on its own opinion, good or bad about something but I would add exclusion as long as it makes some sense.

[sunanbonang]

Let's just not bother with such comments.
We are all aware that some users are here only to get attention and don't have any constructive contrubution to forum. But the goal is completed, everyone is writting their comments. On the other hand everyone has the right on its own opinion, good or bad about something but I would add exclusion as long as it makes some sense.

everyone has different abilities, as long as the comments are not out of the topic of conversation they are welcome to express their opinions. mutual respect is the most important thing here. I really appreciate your comments 

[South Park]

Lets face it- BTC is total worthless- its garbage and you cant use it for anything

Last years bullrun had nothing to do with BTC beeing innovativ or anything- the only reason BTC reached this price levels is because of bitconnect and Ethereum ICOs
for bitconnect and to take part in eth icos the easiest way was to buy bitcoin and than invest in bitconnect- buying bcc coins

same with ethereum ICOs- majority of people bought BTC than traded it for ETH and than investing in eth ICOs

so if btc wouldnt have been around it would have even been much better if someone was abe to invest directly in bitconnect or ethereum.

Mike Novogratz is a shill from the worst kind- same with this other BTC shill Tone Vays

Face it BTC fanboys- your coin is garbage and noone can use it for anything- the only reason it had any usage was in the beginning when people used it to buy drugs on the darknet but other than that- screw bitcoin

and even lightning cant save this crap


And on the next bullrun ethereum will outperform btc again- especially when people are than able to purchase eth directly with fiat.

now prove me wrong, lol

There is no need to prove you wrong when you already did that in your post, the main reason the price went up was the excitement of people for the activation of segwit, you will see that after the activation of segwit the price increase was even faster, this created a feeling among investors that if they did not invested now they will miss the chance of their lifetimes but by the time they took the decision to invest, it was too late and the price crashed.

[JohnBitCo]

Bitcoin growth is uncertain, and in similar way the growth of bitcoin happened reaching $20k in unexpected time period. Likewise the market experienced a big crash which happened when people were expecting the price pumping and reach out the $25k. As 2020 is gonna experience the halving, surely the price rise will happen gradually with accordance to the special events.

many people lose that precious momentum because they continue to hold the bitcoins they have and expect the price of bitcoin to rise higher. I am also part of them 

they are greedy people (I'm not saying you're included) who always hope and never feel enough, now the price of bitcoin has dropped by more than 70% since then. maybe only regret is left.

Well, Regret is only when you say that this is the End and you opt out of it. Selling is loss is surely the end of it. But Then if you hold the coins, the market will recover and you can cover your loses. But no one knows how long we have to wait as it can take another year until we see 10K or more.

[Japinat]

And on the next bullrun ethereum will outperform btc again- especially when people are than able to purchase eth directly with fiat.

I believe you are and ETH fanatic, well, I'm like you, in my mind, ETH has a better tech compared to bitcoin so it should be adopted well.
There is a bull run but no one knows when it will come but I like ETH to have a separate ways and will only depend on the movement of bitcoin, I'm sure ETH has a big supporter, why would be panic easily when bitcoin dump, let's support our own coin and be independent so we will see a good value.

[fuckcrypto]

BTC is dead face it and this thread prooves it

not 1 single argument why bitcoin is needed, its laughable that you support this old ass overrated tech were the main people argue about austrian economics or some other crap that noone even cares about on this planet

face it, every bitcoin maximalist is a borderline retard and so is everyone that is attacking ethereum and NO im not an ethereum shill or anything, im just realistic or does anyone really think this chinese garbage tron or eos can challenge ETH in even the slightest way?

and Bitcoin, get off that train already, you better of buying into this shit of this lieing retard Craig Wright than hodlin this shit and you know it too

[El duderino_]

Lets face it- BTC is total worthless- its garbage and you cant use it for anything

Last years bullrun had nothing to do with BTC beeing innovativ or anything- the only reason BTC reached this price levels is because of bitconnect and Ethereum ICOs
for bitconnect and to take part in eth icos the easiest way was to buy bitcoin and than invest in bitconnect- buying bcc coins

same with ethereum ICOs- majority of people bought BTC than traded it for ETH and than investing in eth ICOs

so if btc wouldnt have been around it would have even been much better if someone was abe to invest directly in bitconnect or ethereum.

Mike Novogratz is a shill from the worst kind- same with this other BTC shill Tone Vays

Face it BTC fanboys- your coin is garbage and noone can use it for anything- the only reason it had any usage was in the beginning when people used it to buy drugs on the darknet but other than that- screw bitcoin

and even lightning cant save this crap


And on the next bullrun ethereum will outperform btc again- especially when people are than able to purchase eth directly with fiat.

now prove me wrong, lol

and why would someone try to prove you wrong, you have made your case..... just go and live with that, don't bother people in here with your presence
just be good, go earn your fiat and never look @crypto again thats the best advice I can give to a NOCOINER

[The Sceptical Chymist]

now prove me wrong, lol

How can anyone prove you wrong?  Only the market can do that with time. 

Also, this:

you cant use it for anything

is demonstrably false.  I've purchased quite a few things with bitcoin, and only a couple of the vendors I've used bitcoin with accept ETH as well.  It's kind of rare to see a merchant accepting anything other than bitcoin if they take crypto at all.

As far as the $20k mark goes, yeah the market was in straight up bubble mode for a while and I figured it wouldn't last.  But damn, it was an exciting time to be holding bitcoin!  Unfortunately I don't think I owned much at the time, and I certainly wasn't actively trading or buying any.  When you get threads with people talking about selling their houses and buying bitcoin with their credit cards, on margin, and all that other happy horseshit, you know the market isn't rational and will correct itself soon.  I was expecting more of a rebound after the crash, but being in the $3000 range isn't bad at all IMO.  I recall when I first got into it, bitcoin was 10x lower than that.

[El duderino_]

^
then we joined @similar time into BTC



#HODL

[ololajulo]

The OP message was mere baloney. Bitconnect, that scam project. What was its marketcap and its percentage in the whole marketcap? These are projects that came out of ignorance and period of development in the crypto ICO. People knew the project was a scam but the general scam alarm for every project prevented investors from taking it serious. I like to remind you that bitconnect is no more, and such scam will be prevented in the future.

[superstarbtc]

they are many factors which followed the trend of 20k bitcoin last year but in reality the price growth didn't last long enough we need to wait for 2 more years to see such huge spike

[WinslowIII]

BTC is dead face it and this thread prooves it

not 1 single argument why bitcoin is needed, its laughable that you support this old ass overrated tech were the main people argue about austrian economics or some other crap that noone even cares about on this planet

face it, every bitcoin maximalist is a borderline retard and so is everyone that is attacking ethereum and NO im not an ethereum shill or anything, im just realistic or does anyone really think this chinese garbage tron or eos can challenge ETH in even the slightest way?

and Bitcoin, get off that train already, you better of buying into this shit of this lieing retard Craig Wright than hodlin this shit and you know it too

Ethereum had one use case, to launch shitcoin ico scams. Nobody is buying this bullshit anymore, so ethereum has no use case. You are the pot calling the kettle black.

[BLAST2MARS]

Op must have lost a lot of money in the past all time high on 2017. Bitcoin has a use and it records all the transactions which is very useful when proving something that you own it. Like in our country, influential and rich people always take the land of the real owners that are poor and can't do anything in those situation. Btc will solve that pain so no one will experience that ever again.

[deisik]

Lets face it- BTC is total worthless- its garbage and you cant use it for anything

Last years bullrun had nothing to do with BTC beeing innovativ or anything- the only reason BTC reached this price levels is because of bitconnect and Ethereum ICOs
for bitconnect and to take part in eth icos the easiest way was to buy bitcoin and than invest in bitconnect- buying bcc coins

Here's another 1 million dollar question for you to answer

If Bitcoin is totally worthless as you claim, why is its price still in the realm of thousands of dollars? It is a simple reality check which you should run before starting threads like this. And it is not like it crashed only yesterday, so that you could say that the worst is yet to come. In fact, it may well be, but we have been going downhill for over a year already. Don't you think it is a bit too much for something totally worthless not to turn into complete trash by now? Remember, Bitcoin is still worth over 3k after so many months of downfall. Definitely not something you can sneeze at

now prove me wrong, lol

There is nothing to prove as you should use a reality check first

[Desscount]

Lets face it- BTC is total worthless- its garbage and you cant use it for anything

Last years bullrun had nothing to do with BTC beeing innovativ or anything- the only reason BTC reached this price levels is because of bitconnect and Ethereum ICOs
for bitconnect and to take part in eth icos the easiest way was to buy bitcoin and than invest in bitconnect- buying bcc coins

same with ethereum ICOs- majority of people bought BTC than traded it for ETH and than investing in eth ICOs

so if btc wouldnt have been around it would have even been much better if someone was abe to invest directly in bitconnect or ethereum.

Mike Novogratz is a shill from the worst kind- same with this other BTC shill Tone Vays

Face it BTC fanboys- your coin is garbage and noone can use it for anything- the only reason it had any usage was in the beginning when people used it to buy drugs on the darknet but other than that- screw bitcoin

and even lightning cant save this crap


And on the next bullrun ethereum will outperform btc again- especially when people are than able to purchase eth directly with fiat.

now prove me wrong, lol

I think you said something inconsequential
try to learn again, the increase in bitcoin is not due to bitconnect, it is wrong
because bitconnect is a ponzi scheme pattern.
one of the causes of bitcoin is pumped in 2017 because of the hard forks and lightning networks.