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[News] Bitcoin?s price plunges amid broad cryptocurrency sell-off
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It's back up over $14k, so no clue where it'll wind up. Crypto is volatile, people. Get used to it.
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I guess 99% of the new people that know what cryptocoins are now, are freaking out hehe, if they saw bitcoin crashing from 1280 usd to $90 then they would be very scared about it. 17k to 11k is nothing, that is not even 30%, 1280 usd to 90 usd was 1400% crash, that was painful to holders.
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Its end of year, people taking profits, to hard not to when you have gains in the triple or even quadruple digits.
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Quote:
Originally Posted by
Metroid
I guess 99% of the new people that know what cryptocoins are now, are freaking out hehe, if they saw bitcoin crashing from 1280 usd to $90 then they would be very scared about it. 17k to 11k is nothing, that is not even 30%, 1280 usd to 90 usd was 1400% crash, that was painful to holders.
Its pretty bad since transaction limits mean tomorrow could be much higher sells then buys raising the price. Could just be corporate year end caused but either way its a few billion dollars, the businesses that accepted bitcoins, from humblebundle to newegg, will never be returning to the bitcoin market in favor of things like bitcoin cash, which allow more transactions daily.
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Bitcoin Cash is a joke though. Anything forked off the Bitcoin codebase will have tx problems.
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Quote:
Originally Posted by
drmrlordx
Bitcoin Cash is a joke though. Anything forked off the Bitcoin codebase will have tx problems.
bch has been with heavy manipulation, i would not invest a single dime on it.
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Yeah there is that as well.
Look, let's be honest: nobody has solved BTC's scaling problem yet. There's off-chain stuff like Lightning, but it's MIA. The challenge of scaling on-chain without centralization simply has not been solved by anyone at this point.
All the BTC forks - BCH, BCG, BCS (???), BCD (???), BCU (???) etc - are manipulative cash grabs of some sort or another. BCH has its evangelists. At least give them that much. But most of their arguments are silly.
The goal is to reach thousands of transactions per second. Nobody is there yet. There is exactly ONE crypto project that will probably get there pretty soon, and I don't want to be a shill so I won't say it. Regardless it will not be BTC or any of its forks/clones.
BTC, BCH, and LTC all really deserve to crash to $0 just for that reason alone.
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Eth's creator has been working very hard to implement that on eth. The way things are, eth might surpass bitcoin on market value in few months.
Also, the reason many companies decided not to be accepting btc anymore was scaling, transaction cost and is very volatile, volatile will always be, the other 2 only time will tell.
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Oh goody, you brought up Ethereum so I didn't have to. Thanks!
Regardless, Ethereum still has a lot of work to do. But it looks like they'll get there, eventually. BTC? Not a chance.
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Quote:
Originally Posted by
drmrlordx
Oh goody, you brought up Ethereum so I didn't have to. Thanks!
Regardless, Ethereum still has a lot of work to do. But it looks like they'll get there, eventually. BTC? Not a chance.
Rootstock and LN are gonna crush ETH and lots of the other alt kids. Don't mess with the honey badger.
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Rootstock? LN? Are you kidding?
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Yeah okay, let's see here:
Right now, the main bitcoin network has maybe 10% adoption for SegWit despite it being available for months. Now you expect people to adopt Lightning too? Never mind this:
https://medium.com/@jonaldfyookball/...n-1b8147650800
Getting proper wallet support and exchange support for Lightning will take a long time, and some will resist using it due to centralization. I doubt that Lightning will be the solution to transaction problems that you think they are, and I predict that Raiden will face similar problems. Plasma may work out better.
Then there's RSK! Oh goody, let's provide smart contract functionality that's maybe on par with where Ethereum was 2 years ago! Hell yeah. If anyone actually DOES start rolling out smart contracts using RSK, there's still the onus of Bitcoin's main blockchain having a depressingly-low rate of on-chain transactions, which is what will drive RSK usage into the ground.
Also where are all the "I like bitcoin better because of Ethereum because it's secure and battle-tested. You can't hack it". So where will the Luddites go once people add experimental, untested, potentially-insecure smart contracts as a second layer on top of their beloved secure and battle-tested blockchain? BCH? Yeah whatever.
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Angry u are. Thanks for that tasty post from June of last year - very informative and up to date. I can't wait for ETH to :banana::banana::banana::banana: some other bit of code up and have to fork again. lolz use your head.
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I am using my head. Bitcoin's second-layer solutions are useless, and Ethereum ain't forking again over someone losing their money. The DAO fork made sense, but apparently you didn't pay any attention to the multiple Parity bugs that didn't even register.
People are already fighting over LN adoption. You just wait and see. It won't be the solution you think it is. Posts from June that were correct then are correct now. Lightning = centralization. It's also a :banana::banana::banana::banana::banana: to implement.
Stupid maximalists.
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Anything that is centralized is bad cause will be too much power for them and that is not good. The lighting project could have been a success and instead will be a failure in the long term. Right now, the only hope is eth for the long term.
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And in the meantime, people are pumping up the price of Ripple instead. Fools and their money . . .
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Quote:
Originally Posted by
drmrlordx
And in the meantime, people are pumping up the price of Ripple instead. Fools and their money . . .
People don't care about the "crypto" aspect. In general crypto currencies are basically the new "derivatives" of the finance sector. I already made 5 figures profit of ripple, so I don't really care what happens in the long run.
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As long as you can get your money back out intact, more power to you. Sadly, Ripple as a platform leaves a lot to be desired.
Anyone who holds XRP too long is gonna get burned, badly.
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I would stay away from ripple or stellar for that matter. I will never invest in something that is centralized.
