The biggest battle for Bitcoin's life is coming

[bartolo]

This is secondary to how much the US government and others loathe Facebook. As it stands I well and truly cannot see them permitting Libra to happen in the form they're proposing.

This controversy between the US government and Facebook regarding Libra is just fireworks. What the US government wants is that Facebook collects and share all the information related to Libra users and this is what Facebook will end up doing. Facebook will say that they had another intention but they were forced to do that, and that's it.

[bitbunnny]

Honestly, I can't see why such drama, what battle are you talking about? Nothing dramatic is happening. Yes, there is some price correction, again, but nothing we haven't seen before.
And all these stories about Facebook, Libra, Trump and US government doesn't have such significant influence on Bitcoin, so forget about it.

[Lucius]

Am I missing something here? On what exactly is this based? Just those Trump tweets or what else?
I've personally not seen more negative news surrounding Bitcoin than usual, just the regular old stuff being repeated again.

Sure, now there's a lot of negativity surrounding Libra, but that has more to do with Facebook than anything else

It is not only about Trump tweets, but also about that dramatic press conference by U.S. Treasury Secretary Mnuchin who is just repeated same old stuff about crypto and how US will do everything to keep US $ as main reserve currency of the world.

I do not see that as "battle that is coming", but as a continuation of a battle that lasts as long as bitcoin exists. Do we need some new Snowden to show us what US is thinking about world, or about cryptocurrency?

This is just one more spin from Trump or from his staff who want to show how they are fighting money laundering and terrorism, and since there is no more Al-Qaeda or ISIL, how the eternal war against terror will continue?

[HeRetiK]

People loathe Facebook yet the still use it. People loathe PayPal yet they still use it. So Libra might become a success after all. Regardless of that I'm not sure who Libra's target userbase is. Crypto-enthusiasts are unlikely to be converted and normies have other micro-payment-services available that are easier to use than Libra. As it is it seems to be worst of both worlds.

Merchants, as they prefer stability over speculative risk.
Having a 1 to 1 with a US dollar, means they can accept it and then convert to fiat at any time,
they are not forced to immediately convert to fiat to avoid price falls like we have seen in the past few days.

While Tether is a scam , Libra will not be.  So it is actually viable.

That's the thing though, the Libra will not have an exchange rate of 1:1 to the USD:

The Libra has the potential to mitigate this problem by being pegged to a diversified basket of national currencies that could provide ordinary folks in developing nations a better alternative to local currencies and the dollar to store wealth and invest. It could be substantially immune to capital controls.

So while not as volatile as Bitcoin it will still act like a foreign currency and not a native one, with an exchange rate dependent on who-knows what metrics.

[Lizzylove1]

I am prepared and ready to buy more from the weak hands. I was thinking we have gone pass $10k zone. However they intend to shake the market, some of us that already know the value en-capsuled in bitcoin will not be moved. One shouldn't expect the government to easily give up. 

[1Referee]

I am prepared and ready to buy more from the weak hands.

Yes. I actually love it when the price tanks like this this. If people are actually hardcore Bitcoiners, they would love it too because their silly fiat currencies for once provide some utility in the way that you can get more coins for them. $100,000 will be nothing but a temporary hurdle just like the $20,000 level is right now.

Let the price tank, find a new floor, and from there enjoy the next leg up. Hodling Bitcoin hasn't ever been this easy with so much progress. Allocating a part of your income to Bitcoin has become a whole lot more attractive now the price is going the other way.

[Slow death]

I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.

Well people always have the magic button " Stop-loss "  to protect themselves from a big dump, so I advise people to always keep their fingers ready to use the magic button " Stop-loss "

What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.

this was already something expected to happen sooner or later

Prepare yourselves. It's coming.

he arrived in 2017

I thought we've already seen it's biggest battle when it dropped bitcoin to $3200, if this one is bigger, then probably we will go back to $1000.

Good observation

[unusualfacts30]

Which battle?  Can you provide more details and some source with your findings? from my understanding battle has been ongoing for years now from the day bitcoin came out and it has had its up and down.

[qubitasic]

The most challenging thing will be:

When the privatekeys of the lost coins with no owners - 'shalecoins' - will be 'fracked'.
The first group will then sell all these coins because they will then know that it is possible to get the privatekeys and that others could 'frack' them. No matter what the BTC price, they will sell them.

There are more than 1,000,000 'shalecoins' with a 10+ billion US$ value. So we can expect that there are private groups - not institutions like the link below - who want/try to build a supercomputer.

But thereafter 'shalecoin' https://bitcointalk.org/index.php?topic=5134441.0 will be solved and the blockchain will be clean.
That is important for the Bitcoin development.


"Quantum computers will soon outperform classical machines"
"The project is part of the EU’s €1 billion, 10-year Quantum Flagship initiative to kickstart a competitive European industry in quantum technologies."
http://www.engineersjournal.ie/2019/07/01/quantum-computers-will-soon-outperform-classical-machines/
https://medium.com/the-quantum-resistant-ledger/no-ibms-quantum-computer-won-t-break-bitcoin-but-we-should-be-prepared-for-one-that-can-cc3e178ebff0


new topic - The most challenging thing - https://bitcointalk.org/index.php?topic=5166180.0

[Yassin]

many factors to prepare this is true our friends' words are not only prices, governments and paper money rulers will try to fight Bitcoin so it doesn't grow because they are afraid of losing money, but we all have to believe Bitcoin will continue to grow and Bitcoin will continue to go to the moon..

[Artemis3]

I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.

What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.

Prepare yourselves. It's coming.

I'm not worried in the least. There is nothing governments or institutions can do to stop Bitcoin, the genie is out of the bottle...

If it is about adoption, then all is good. I'd like a country to adopt it as national currency, along with Austrian economics; that would be a tremendous world wide level implication and would accelerate global economy change away from Chicago school bad-practices (debt vs savings).

But the likes of India banning it is meh. Loss is on them...

Oh, and if you imply that this is somehow going to affect its price in fiat, hey, chance to buy cheap!

[kryptqnick]

I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.

What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.

Prepare yourselves. It's coming.

I don't know what to do if we see another bearish market. I am not ready to just wait for another year... Honestly, I think it doesn't make sense to hold when the price is going down. Why not sell when it's still high and then buy back when it reaches somewhere near the bottom? I have some money in btc, but I am afraid to draw attention by selling a significant amount of it, so I guess I'll have to wait or to hope for the best. I hope you're wrong that the worst is coming, and that actually it's just a correction that will be followed by further growth or at least by stabilization around $10k+. I think we deserve it after everything 2018th and the first quarter of 2019 gave us.

[Artemis3]

I don't know what to do if we see another bearish market. I am not ready to just wait for another year... Honestly, I think it doesn't make sense to hold when the price is going down. Why not sell when it's still high and then buy back when it reaches somewhere near the bottom? I have some money in btc, but I am afraid to draw attention by selling a significant amount of it, so I guess I'll have to wait or to hope for the best. I hope you're wrong that the worst is coming, and that actually it's just a correction that will be followed by further growth or at least by stabilization around $10k+. I think we deserve it after everything 2018th and the first quarter of 2019 gave us.

There is a slight chance for a bearish market (or correction) until the bull run towards the halving.

Either way is fine, 2020 the next halving comes:
Reward-Drop ETA date: 19 May 2020 09:54:35

After the halving a bearish market (or correction) seems more probable. Just remember that halving also means half production of bitcoins every 10 minutes. The market is getting less and less bitcoins as designed. Supply and Demand...

[beatzcoin123]

what will be the nature of this much anticipated battle? what could the target be during this cold war? price dump or pump? these and more are some questions that need solemn answers.

[kingpin4321]

I can say it's already hit it peak when Donal trump the president of the US but still nothing much happened bitcoin is already going through social criticism and that is no news. I don't see anything getting worse on that account

[BitHodler]

Just remember that halving also means half production of bitcoins every 10 minutes. The market is getting less and less bitcoins as designed. Supply and Demand...

Also remember that we have gone up from $3000 to almost $14k already. Currently we're hovering around the $10k mark, which is still $7000 higher-- it increased enough to compensate for 50% less block rewards.

If the price doesn't go up much more than what it has already given us, the difficulty will either go down a bit or remain stable. The block halving is very important fundamentally, but it's not a one way rocket flight to the moon.

Another thing is that when the sentiment is going backwards where coins are being dumped on the market, the lower block rewards won't have much of an effect at all-- the price will go down regardless of that.

[ityandsyn]

I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.

What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.

Prepare yourselves. It's coming.

      If it's like a battle , so it was started already by President Donald Trump and several big names in movies celebrities and sports but no need to be worried because bitcoin is just like a virus that slowly invade the entire body , it's only a people's choice to get involve in bitcoin or not .

[rodel caling]

It's kinda final battle against government, but it's okay for me because i think if Bitcoin could get this done the it would be easier for Bitcoin to reach its success in the future, so there is no reason for me to be afraid.

I believe the battle of bitcoin faces came from the one of the powerfull leader of f the country. Thought of president trump the why bitcoin is now slightly dump their price. But yes all this battle can overcome of bitcoin to get success forget the worries and just stay calm.

[bitcoin31]

Im ready for it and my I have a lot of patient for it, I waited 1 year because 2018 when bitcoin dumped but I still hold my bitcoin on that year so I don't see any reason for me to give up and for them to be impatient for holding their bitcoin. Holding bitcoin now is needed for everyone it is a big help for the bitcoin now. I think bitcoin will pass this challenge just like last year.

[hatshepsut93]

Are you referring to Trump's statements? I'm worried a bit too, but let's not forget that the US isn't a dictatorship like Russia, where president can do whatever he wants - in the US different branches of government can have different political positions, and if Trump wanted to initiate Bitcoin ban, it would be a long and hard process as it would have to go through all the legislative bodies.
I think SegWit2x/NYAG/Bcash drama of 2017 was the biggest battle so far, with looming forks, countless shills and trolls, and even some legit split in community. I don't feel anything of that scale right now.