Casdinyard
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November 08, 2020, 04:16:08 PM |
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It can go down that level anytime. We were below $5,000 just last March.
The same thing I was thinking–the market is just too volatile that you less expect it the more it will happen. But don't worry we aren't at the bearish trend yet so there's a chance that the market would go pump again but that time would be to the moon. One large investor may dump thousands of his/her Bitcoin, the price would greatly decrease, the sheep and the weak hands would follow suit, and the price would go down.
I am trying to find these big investors dumping large coins but they occasionally dump. Do you think exchanges moving coins would affect the price? I think it won't affect the price, not that sure. But the price is determined by the demand right? So factors related to buy and sell orders are the ones which could affect the price itself, and moving does not require such thing. You have already mentioned it, the market is just too volatile. If ever its market price will continue to increase, there's no assurance, and it is more likely to happen that it will suddenly fall. Its market value will not continuously and consistently increase. The threat in its market value I think is total prohibition of its usage for some reason if there is any. This is more likely something that will ruin its price.
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BITCOIN4X
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November 08, 2020, 04:49:36 PM |
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The threat in its market value I think is total prohibition of its usage for some reason if there is any. This is more likely something that will ruin its price.
And I never thought this kind of ban would apply to bitcoin. Some countries may be able to prohibit its circulation and also prohibit market activities in that country for various reason. But absolutely don't think a mass ban will happen to bitcoin in the future. Still very unlikely, mate. In my opinion, the biggest threat to the price of bitcoin is the whale, because their activity in the market often bring disaster to the price of bitcoin even though it is only temporary until the price finally recover. Then I thought, if the bitcoin we are currently using is still in the testing phase then I think it's possible to have a new, bigger idea with better improvement. This can affect the price of bitcoin, but it's not a threat as long as the idea isn't born.
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RealMalatesta
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November 08, 2020, 07:01:11 PM |
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Sun flares are also not as big of a deal as you might imagine just for internet purposes. To make it more clear if there is no internet, bitcoin is the last thing you should be worried about because the whole worlds infrastructure is based on internet these days and even if you have just 1 week without internet in the entire world, we are going to suddenly see humanity not having the same life ever again, however assuming just for bitcoin purposes, you still have your wallets on your computers that still works and even though we are not connected and we can't make it work, when internet comes back we could just restart where we left off so it is not a big deal compared to what other troubles no internet can cause.
Quantum on the other hand could destroy bitcoin in an instant, but it could also make it infinitely stronger in an instant as well, we could see it as a bad thing or we could see it as a good thing.
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ChrisPop
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November 08, 2020, 07:42:34 PM |
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I see a lot of people talking about waiting for the dip in the forums because the surge in price slowed down for a bit. These are exactly the circumstances when someone is going to FOMO if the price doesn't dip to the desired price level and instead crushes resistance after resistance. My advice as an average joe and NOT a financial advisor is to slowly scale in your funds so even if the price does not get to your entry target level you will still be satisfied that you partially filled the position. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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slapper
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November 08, 2020, 08:13:54 PM Last edit: November 09, 2020, 03:39:37 AM by slapper |
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Attack 51 barely happen cause there are too many miners right now and no corporation has enough power to manipulate the mining hash. Nothing needs to worry about this network attacking. There have been attacked on other blockchain but bitcoin chain remains stable.
I always bitcoin to be underground. I mean, the more notorious bitcoin is, the more people want to invest their money in bitcoin without having any notice that they are destroying bitcoin primitive purpose. Bitcoin is created to become a sort of digital money which people use to buy/sell the thing on the Internet. In the past, those trade mostly happened in Deepweb. Right now, bitcoin has enough reputation to be recognized by an adult but most of them only care about the possibility of making money from bitcoin. Hence, the government is also not a threat at all. Currently, governments are wise to determine bitcoin as an investment asset, and bitcoin therefore is accepted widely around the world. Only a few countries ban bitcoin for some ridiculous reason
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CarnagexD
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November 08, 2020, 09:37:29 PM |
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What I think will make or break bitciin are the whales in this investment venture. Soon as they cash out their profits, bitcoin will start to decrease in value. If multiple whales cash out, we're talking about an Avenger's Level Threat as that will seriously affect bitcoin's price. Funnily enough, bitcoin is ready established to be affected by some trivial reason, so this is the only viable way bitcoin could ever fail.
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AndySt
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November 08, 2020, 09:45:41 PM |
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And I never thought this kind of ban would apply to bitcoin. Some countries may be able to prohibit its circulation and also prohibit market activities in that country for various reason. But absolutely don't think a mass ban will happen to bitcoin in the future. Still very unlikely, mate. In my opinion, the biggest threat to the price of bitcoin is the whale, because their activity in the market often bring disaster to the price of bitcoin even though it is only temporary until the price finally recover. Then I thought, if the bitcoin we are currently using is still in the testing phase then I think it's possible to have a new, bigger idea with better improvement. This can affect the price of bitcoin, but it's not a threat as long as the idea isn't born.
I also believe that a mass ban is unlikely, because the major economic powers are engaged in printing a very large amount of money that the economy cannot digest. Therefore, bitcoin helps to sterilize an excessive amount of money supply. However, China is out of this General mass of countries with its market regulatory behavior and may act against the current trend and ban bitcoin on its territory, which may lead to a collapse in the exchange rate price for some time as a result of a mass sale by Chinese investors. But let's hope that this will not happen, because China is quite cautious in this area, not encouraging, but not completely prohibiting. About the second statement. Whales operate in the market as destructive and positively contributing to the growth of prices. I also believe that a mass ban is unlikely, because the major economic powers are engaged in printing a very large amount of money that the economy cannot digest. Therefore, bitcoin helps to sterilize an excessive amount of money supply. However, China is out of this General mass of countries with its market regulatory behavior and may act against the current trend and ban bitcoin on its territory, which may lead to a collapse in the exchange rate price for some time as a result of a mass sale by Chinese investors. But let's hope that this will not happen, because China is quite cautious in this area, not encouraging, but not completely prohibiting. About the second statement. Whales operate in the market as destructive and positively contributing to the growth of prices. It is impossible to fully insure against their actions, but it is probably not worth waiting for destructive actions from them in the near future,because they are also still accumulating.
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coolcoinz
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November 08, 2020, 10:46:14 PM |
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Can a temporary dip or a flash crash be considered a threat to the price? Bitcoin is strong enough to hold its value more or less. By more or less I mean the yearly lows and highs. Take a look at the charts and statistics for Bitcoin. Every year the lows are becoming higher. If I remember correctly there was only 1 year in the history of bitcoin where the low price was lower than in the previous year, which means that the price is moving up, even if you're unable to see it at first glance, because like most people you're looking at high prices and pumps instead of watching the lows that really indicate what's going on.
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BuNga_cute
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November 08, 2020, 11:21:47 PM |
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Currently, many people are optimistic that Bitcoin has entered a bullish trend, which means Bitcoin will continue to experience price increases. Here many investors become complacent and unaware that there is a possibility that Bitcoin will fall back to the price of $ 10,000. Actually we really have to be vigilant, especially the volatile Bitcoin price. So there is still a possibility that the Bitcoin price will fall. Based on my observations, the possibility that whales could cause Bitcoin's price to fall is very likely. Moreover, whales often manipulate prices, so they can buy Bitcoin at a low price. So if you are trading Bitcoin, you should use the stop-loss feature to minimize losses.
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Wapfika
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November 08, 2020, 11:25:38 PM |
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Currently, many people are optimistic that Bitcoin has entered a bullish trend, which means Bitcoin will continue to experience price increases. Here many investors become complacent and unaware that there is a possibility that Bitcoin will fall back to the price of $ 10,000. Actually we really have to be vigilant, especially the volatile Bitcoin price. So there is still a possibility that the Bitcoin price will fall. Based on my observations, the possibility that whales could cause Bitcoin's price to fall is very likely. Moreover, whales often manipulate prices, so they can buy Bitcoin at a low price. So if you are trading Bitcoin, you should use the stop-loss feature to minimize losses.
Stop loss is a must in crypto trading not just in Bitcoin since it is too volatile, one minute price can drop without us noticing it. Imafter what happened to me before that I thought I was already in profit but afterwards and when the time I plan to withdraw my investment it's already at loss since many already sold their coins I never forget now to put stop loss, it's very important in crypto at all.
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exstasie
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November 09, 2020, 12:01:42 AM |
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Why do you say it is not useful as a currency? I can spend it for goods and services with better privacy, faster finality, more security, and lower fees, than I can with credit cards or PayPal. Just because there is not widespread adoption yet does not make it a bad currency.
Lower fees than credit cards or Paypal? I get cash back (negative fees) with credit cards and don't pay any fees. With Paypal, the merchant gets charged, not me. Not to mention the consumer protection I get. Bitcoin is superior in many ways, but the fee angle isn't the strongest case, at least for consumers. For merchants, it's a trade-off. They trade price stability for faster settlement. Or they have to use a company like Bitpay, who can admittedly undercut Visa or Mastercard by 0.5%-1%, but still charges 1% to the merchant. Why? What's stopping us forking to a quantum-resistant algorithm?
Block size, blockchain bloat. Aren't Lamport signatures gigantic? Not a total deal breaker but something we hope to delay for as long as possible I'm sure, as it will seriously damage decentralization.
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Bosx1ne
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November 09, 2020, 02:47:21 AM |
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The threat in its market value I think is total prohibition of its usage for some reason if there is any. This is more likely something that will ruin its price.
And I never thought this kind of ban would apply to bitcoin. Some countries may be able to prohibit its circulation and also prohibit market activities in that country for various reason. But absolutely don't think a mass ban will happen to bitcoin in the future. Still very unlikely, mate. In my opinion, the biggest threat to the price of bitcoin is the whale, because their activity in the market often bring disaster to the price of bitcoin even though it is only temporary until the price finally recover. Then I thought, if the bitcoin we are currently using is still in the testing phase then I think it's possible to have a new, bigger idea with better improvement. This can affect the price of bitcoin, but it's not a threat as long as the idea isn't born. The whale are not the threat, they are the one who manipulates the price after all so they are the one who drives the price bitcoin. In terms of dumping, I do not know if those whales will sell of their bitcoins that they have, of course they will just do trim and they will not fully sell all of their bitcoins that I have. The real threat for me is the government because there are still some government who keep implementing restriction to the use of bitcoin and other cryptocurrencies.
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Pamadar
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November 09, 2020, 03:00:37 AM |
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Currently, many people are optimistic that Bitcoin has entered a bullish trend, which means Bitcoin will continue to experience price increases. Here many investors become complacent and unaware that there is a possibility that Bitcoin will fall back to the price of $ 10,000. Actually we really have to be vigilant, especially the volatile Bitcoin price. So there is still a possibility that the Bitcoin price will fall. Based on my observations, the possibility that whales could cause Bitcoin's price to fall is very likely. Moreover, whales often manipulate prices, so they can buy Bitcoin at a low price. So if you are trading Bitcoin, you should use the stop-loss feature to minimize losses.
That matters, you should have specific target both from gains and loses. You said it right that there are many whales who keeps playing around and they can manipulate the current movements, sad to say that once they've creates artificial movements, there are many traders who followed them, in both sides they are gainers and they always getting positive in each position that they are taking, you have to be more careful in choosing your sides and be vigilant knowing which is the best place to position your money.
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bitgolden
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November 09, 2020, 12:18:27 PM |
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Price of bitcoin probably has this doom hanging over it by way of Satoshis's stash and that is the scariest thing to me. I read that it is as much as 1 million bitcoins and considering that is around 15 BILLION! dollars, I think the day that money is taken over by any hacker or anyone who can access it or any way get a hold of, it would destroy the market for a looooong time. Can you imagine someone selling 1 million bitcoins to the market?
I know whoever does it wouldn't be idiotic enough to do it all in one place, but they would probably do it quickly and all together in a simultaneous movement just to make sure they do not crash the market before they can sell it, because if he sells just 1 bitcoin and moves it out, he would be caught, so he has to cash them all out.
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smyslov
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November 09, 2020, 12:24:35 PM |
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There's going to be a huge crash if suddenly Satoshi Nakamoto's wallet is open and the owner dumps all the coins inside the wallet, this is one of the things that scared investors because 1 Million Bitcoin is so huge that traders cannot keep up, we have seen the effect of pandemic and it's not a long term effect, and Bitcoin has recovered only Nakamoto and a group of whales can make the market crash.
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AicecreaME
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November 09, 2020, 12:40:35 PM Last edit: November 09, 2020, 01:04:08 PM by AicecreaME |
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About your question,what could case bitcoin to go below $5,000 are the whales taking the profit therefore dumping the price.You dont need any big external factor,just big traders taking the profit,and then later on buying it cheaper,increasing their stack.Thats what all of us should do really,see dump as opportunity to increase bags and not panick and worry about future of bitcoin.
OK great, this is something that I should probably be wary of. What do you think the chances are that this will happen anytime soon? How would you be able to predict this happening, notice when it is happening and sell out before the crash? Honestly, it’s hard to predict the movement of bitcoin’s price as it is volatile. However, if you want to see the price about bitcoin’s value in the market, you can look at several trading platforms so you can see it in real time. I use this directly so I can trade instantly if the price go low and sell it when the price increases, most likely in Day Trading. On the other hand, there’s this thing I personally use which is called Blockfolio wherein you can see the status of your coins - if its value goes up or down. It personally helped me to decide whether to sell or hold my coins. You can also use this to signal if you set a fixed price to sell something. In addition, list of where you can sell your coins are also included. There’s a list of available exchangers you could choose on the tokens you're planning to sell. E D I T: You can't avoid losing profits just because you didn't know when the bearish market would strike again, unless your predictions are solid and pretty accurate every single time you do trading.
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o_e_l_e_o
In memoriam
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November 09, 2020, 02:19:09 PM |
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Lower fees than credit cards or Paypal? Sure, credit cards and PayPal are free for me, but the merchant is often charged a few percent, sometimes as high as 5%. Bitcoin transactions cost me a few cents and the merchant nothing. Because of this, the majority of merchants I spend bitcoin at offer a discount for paying by bitcoin which outweighs any cashback or fee which may otherwise swing things in favor of fiat. Or they have to use a company like Bitpay, who can admittedly undercut Visa or Mastercard by 0.5%-1%, but still charges 1% to the merchant.
If they are motivated, they can use a service like BTCPay which is self hosted and therefore charges zero fee. The only fee for conversion to fiat would be the exchange fee. Block size, blockchain bloat. Aren't Lamport signatures gigantic? Not a total deal breaker but something we hope to delay for as long as possible I'm sure, as it will seriously damage decentralization.
Lamport signatures are larger, yes, but they aren't the only option. And even then, if you are only using them to open or close Lightning channels, then it is not such a big deal.
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davinchi
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November 09, 2020, 08:44:40 PM |
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The author of that article made a really good point, his last point is something that I usually talk about with my friends or other people, especially when things like ‘bitcoin should be world currency pops up and things like that. His last point he talked about ignorance and disinterest, and he said something that bitcoin shouldn’t be the main currency that will replace the fiat we are using like some people would argue, it is good that Bitcoin stays an independent currency that offers everyone the same benefit, and then he said another thing about the bad effect that HODL will have on Bitcoin and I support that, he made a good point and pointed a big threat for Bitcoin there. But sadly, whales and big institutions wouldn’t care, they only care about their pockets.
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Twentyonepaylots
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November 09, 2020, 10:59:13 PM |
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Bitcoin being as established as it is now wouldn't have to be wry of outside threats unless it's an end of the world scenario, in which case everyone should panic of course. Nonetheless, what I see being the biggest threat to bitciin us ironically the one that also put it to what it was now, the whales themselves. If these whales decided tp dump the price we cannot do anything about it, they will definitely affect the price and moreso the mentality of the investors which woukd immediately cause bitcoin to fail.
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exstasie
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November 09, 2020, 11:00:54 PM |
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Lower fees than credit cards or Paypal? Sure, credit cards and PayPal are free for me, but the merchant is often charged a few percent, sometimes as high as 5%. Bitcoin transactions cost me a few cents and the merchant nothing. Because of this, the majority of merchants I spend bitcoin at offer a discount for paying by bitcoin which outweighs any cashback or fee which may otherwise swing things in favor of fiat. This may be an unpopular opinion, but nobody really cares what merchants want. Merchants need to support the payment options that consumers want and use, not the other way around. Credit card companies literally pay me to use credit cards. It costs me nothing, and the lack of instant settlement only protects me as a consumer. Why would I prefer to use BTC if it means paying fees, waiting for settlement, and having no consumer protections? Because it's better for merchants? If merchants can save so much by avoiding credit cards, they ought to be giving sizeable discounts for BTC payments. I don't see why consumers would be interested otherwise, outside of the phenomenon of spending BTC as a means of realizing capital gains and avoiding income taxes. Lamport signatures are larger, yes, but they aren't the only option. And even then, if you are only using them to open or close Lightning channels, then it is not such a big deal.
What other options are there that are widely considered safe and adequately tested? Why would this be limited to the opening and closing of Lightning channels?
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