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Re: Bitcoin @ 7k and dropping bad...
 

With all this talk surrounding Tariffs and Trade wars you would think that this type of news would help cryptocurrency prices, but the opposite is happening

Re: Bitcoin @ 7k and dropping bad...
 

That is because you really cant use any of this stuff right now without costing you a significant percentage. Until you can actually use it for a 2-3% fee, it will just be a commodity like a bar of silver and by the way, you can sell silver much easier and for less of a fee than BTC. Sometimes at a premium.

Re: Bitcoin @ 7k and dropping bad...
 

The ones who charge the significant percentage are making money - that's the golden ticket

Re: Bitcoin @ 7k and dropping bad...
 

Was gonna unload some XMR this morning but I awoke to this:

https://i.imgur.com/saLKyQS.jpg

Hoping for a reasonable rebound - Bogdanoff bros have been dumping hard...

Re: Bitcoin @ 7k and dropping bad...
 

Re: Bitcoin @ 7k and dropping bad...
 

You do have a point with the fees. I see Bitcoin as the "Napster" of cryptocurrency the idea is correct but there are MANY issues that need to be addressed before there is the REAL possibility of going mainstream. Fees is only 1 of them, the speed of transactions is another, working with Banks, Goverments, and much more.

This is one of the reasons that I was a more of a fan of Ripple than any other cryptocurrency , Ripple addresses a lot of these issues, but even Ripple has a LONG way to go (Maybe YEARS) before any cryptocurrency becomes common place, you can bet your life that at some point in the future their is going to be a global cryptocurrency standard which ALL cryptocurrency must meet, or maybe only 1 cryptocurrency approved for use worldwide.

If that is indeed the case the only real question is which one? I am completely convinced that it will NOT be Bitcoin.

Re: Bitcoin @ 7k and dropping bad...
 

I'm no expert and I could totally be wrong here but what gives value/security to cryptos are the miners / network.

Bitcoin has 8 years running and millions (billions?) in mining infrastructure which makes it by far the most secure crytpo network on the market.

No other crypto compares to this except for maybe Ethereum, which is only a few years old.

As far as scaling, I'm pretty sure the best crypto developers, or at least the majority of the best crypto developers are already working on 2nd layer scaling solutions for Bitcoin. Lightning network apps are coming out today at a pretty high rate which is pretty surprising considering most people thought lightning wasn't coming out for 1-2+ years. I'm pretty sure you can download a LN wallet today and do your first LN transaction within the hour.

You'll be able to send money instantly, nearly free, all on the most secure crypto network available. Scaling on a 2nd layer being similar to how the internet started scaling in the early years.

I could be wrong here but I'm pretty sure any other alt/crypto that has some revolutionary tech upgrade can always be added to the Bitcoin protocol via softfork if consensus agrees its beneficial. Because of that, it seems risky to hold any crypto except for Bitcoin.

With all that said, assuming the majority of what I said was true (I could totally be wrong), I do not see Bitcoin going anywhere and I don't see any other crypto taking its place.

Re: Bitcoin @ 7k and dropping bad...
 

Here is the thing,,,Money, no matter what country or currency flows thru Banks whether you like it or not. It is the TOTAL amount of money that flows from banks into cryptocurrencies that give Bitcoin and the rest "Value". As cryptocurrency become more widely accepted and used in common transactions more money will flow from traditional banks into the cryptocurrency markets increasing their value, that's the traditional thinking.

The problem is that most cryptocurrencies have positioned themselves as "Alternative Money" and by doing so its clear that they wish to establish and appeal to people who want conduct anonymous transactions outside the established worldwide banking system, that very Banking system along with Governments will NEVER allow that to happen.

Don't forget that in order to fund ANY cryptocurrency the original money MUST come from some bank SOMEWHERE on the planet. Now consider that there are only 5 Banks Worldwide that transfer Money from country to country, how hard do you think that it would be to for them to control the money going into the cryptocurrency markets?

This is why I keep going back to Ripple. Ripple was created by the World Bank to begin with. It has positioned itself as a payments PROCESSOR NOT as an alternative currency it is already slated to be used by 3 of the 5 Money transfer banks to transfer funds worldwide beginning this year, they will most likely strike a deal with Goldman Sachs sometime this year, these are SIGNIFICANT developments. Ripples positions itself that its value comes from the fact that it can convert ANY currency to Ripple send it ANYWHERE on and OFF the planet and convert it back to any currency completely securely using blockchain technology in SECONDS nearly without cost.

https://www.coindesk.com/ripple-clai...irms-xrp-2018/

I just want to point out that a LOT of people are going to lose a LOT of money if they refuse to arm themselves with all of the information out there.

http://fortune.com/2018/02/13/ripple...-garlinghouse/

There is a legitimate reason why Ripple has seen its market share grow to being the 3rd largest cryptocurrency, be VERY careful with Bitcoin, It has some extremely powerful forces working against it. If Banks and Governments were HALF as supportive of Bitcoin as they are with Ripple, Bitcoin would be $50,000 or MORE per coin by now.

https://www.coindesk.com/saudi-centr...payments-tech/

That last article is HUGE, Imagine trading oil in RIPPLE and NOT Dollars

Re: Bitcoin @ 7k and dropping bad...
 

3.50 to .50 cent. Hmmm maybe

Re: Bitcoin @ 7k and dropping bad...
 

Resistance @ 7k, there's a big selling barrier...
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Re: Bitcoin @ 7k and dropping bad...
 

Thank you for yet another astonishing observation.
Thank goodness for you and your analysis. Without it I would surely be lost.
Never stop being who you are... (a dwarf hooker...?)

Re: Bitcoin @ 7k and dropping bad...
 

https://i.imgur.com/2tiJ8qC.png
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Re: Bitcoin @ 7k and dropping bad...
 

Huh?

https://media1.giphy.com/media/aWPGuTlDqq2yc/giphy.gif

Re: Bitcoin @ 7k and dropping bad...
 

a Possible Explanation HOT off the News Wire:

"Wall Street veteran Tom Lee sparked the bitcoin rally ahead of his talk at the CMT Symposium this morning. A bullish speech from a well-respected name could boost bitcoin’s credibility as an investment.


Bitcoin just spiked OVER $800. It happened in less than 30 minutes. Some traders think it's because Wall Street veteran Tom Lee is preparing a massive talk at #CMTSym2018 about cryptocurrencies. It starts at 9 AM ET.https://t.co/tjsXuWJTWh pic.twitter.com/8nVB6xuEsT"

Re: Bitcoin @ 7k and dropping bad...
 

No more lowball predictions you oh wise crypto guru?
Its not going down to $3k anymore?
Wait... does that mean you didn't buy any and are not buying any?
We are all of us shocked and saddened by this completely and utterly unforeseen turn of events!

Re: Bitcoin @ 7k and dropping bad...
 

Why do you even pay attention to that TOOL

Re: Bitcoin @ 7k and dropping bad...
 

He's invested all his money into SIM cards ;)

To the moon......

Re: Bitcoin @ 7k and dropping bad...
 

That's the newest crypto - SIMcoin.
Highly recommended by the guru.
TO THE MOON SIMcoin!!!

Re: Bitcoin @ 7k and dropping bad...
 

I thought it was HIMcoin.

TO THE MOON.

One of the moons of URANUS

:pop2:

Re: Bitcoin @ 7k and dropping bad...
 

https://i.imgur.com/9fpXxvq.png

20% profit in 2days, NICE
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Re: Bitcoin @ 7k and dropping bad...
 

No more updating for 1 btc to USD from me now - nice :)

Re: Bitcoin @ 7k and dropping bad...
 

Made 28% on ripple tis week and got out.

Re: Bitcoin @ 7k and dropping bad...
 

That is the way to do it, trade it make some money and look for the next opportunity,,,

Re: Bitcoin @ 7k and dropping bad...
 

Ya I rode it up to 3.50 and back down before . Lesson learned. When some one said there in it long term , means the missed the exit point.

Re: Bitcoin @ 7k and dropping bad...
 

Yes. Yes it is.
And how much did YOU make guru?
I'm guessing a nice very round figure LOL!!!
By the way thanks for the info. Your keen observations of the obvious info we all already know is always astonishing to us.
Rsot - looks like we have your replacement in play...

Re: Bitcoin @ 7k and dropping bad...
 

He is much more than my replacement - he has all the knowledge :thumb:

Re: Bitcoin @ 7k and dropping bad...
 

All bs aside. I am guessing litecoin will have a jump next. It ushaly lagges behind bitcoin a little. 175$ is my hope

Re: Bitcoin @ 7k and dropping bad...
 

This bitcoin ride is wild

Re: Bitcoin @ 7k and dropping bad...
 

lets hope tim draper, winklevosses, and tom lee are right....

tom lee says 25k by end of 2018
tim draper believes 250k at 2022.

I never got to see tim's advice back when he claimed 10k by end of 2017. He claimed this info back in 2014.

Time to invest in some crypto........I am trying to be a millionaire by 30ish........I aint going to get there by hard work alone.....

I can't really think of any more bad news to plague bitcoin at this point.......lets hope that their are not dozens and dozens of crazy terrorists that commit acts in usa within this year and us congress and president decide to outright ban bitcoin because of possible connections to terrorist funding in bitcoin.......=(

Any type of crazy ban in any country......will send bitcoin down.......

trump is really trigger happy on just shutting down lots and lots of things i have seen so far......-___-

Re: Bitcoin @ 7k and dropping bad...
 

Who's in for creating a Trump bitcoin hmm....

Re: Bitcoin @ 7k and dropping bad...
 

Lol ya CNN could tie it to porn stars and Russian in about 5 minutes I'm sure.

Re: Bitcoin @ 7k and dropping bad...
 

rsot confirmed for russian bot!

Re: Bitcoin @ 7k and dropping bad...
 

Re: Bitcoin @ 7k and dropping bad...
 

And a thousand hamsters cried.

:pound:

Re: Bitcoin @ 7k and dropping bad...
 

Shhhhh we're filming:

http://images5.fanpop.com/image/phot...29-268-188.jpg

They're already overworked as it is...don't imply the crying necessity :bounce:

:focus:

Re: Bitcoin @ 7k and dropping bad...
 

Lol, i wish i sold my btc at 20k, i remember looking at it..But, then in hindsight if it went to 50 or 100 k i would be pissed.

Re: Bitcoin @ 7k and dropping bad...
 

Don't say such things to empire. Hes still predicting it going down to $3k and then BUYING BUYING BUYING!!!

Re: Bitcoin @ 7k and dropping bad...
 

Litecoin making a run pray it holds

Re: Bitcoin @ 7k and dropping bad...
 

the problem with believing the 5 trillion market cap........their are 1000s of cryptos.........

they can be created out of thin air.......where as gold is literally labor intensive and precious in nature......

if i dont put my money in bitcoin.....then put my tokens in ripple.....all the same crap at the end of the day in terms of letting it sit in a desktop wallet to spend.......

thats one of my arguments about the 5 trillion market cap being realistic.....

Re: Bitcoin @ 7k and dropping bad...
 

I agree with you that the vast majority of all these crypto coins are junk.
I foresee them all disappearing in the rather short run (relatively speaking) leaving only the established and reputable coins.
And theres nothing wrong with having several dozens cryptocoins in existence (as opposed to thousands of course) - you have several hundred fiat currencies as well.