1st Aug event: Possible Bitcoin pump?

fabiorem

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Quote from: among on July 21, 2018, 03:08:09 PM

“We are going through the biggest wealth generation opportunity of the century, and people want to participate,” says Meltem Demirors, director of development at Digital Currency Group. DCG oversees a cryptocurrency portfolio including 1% of the total Bitcoin supply. It also invests in startups working on blockchains, accounting tools that use networks of computers to collectively sustain mutually trusted, shared ledgers of transactions, without relying on any outside institutions as middlemen.

The appeal of this tech is stoked by geopolitical unease. Since its inception in 2009, Bitcoin has fed off the festering distrust in institutions sown by the financial crisis. And as populist sentiment has spread in the West, so has the allure of a decentralized currency outside the grasp of governments and banks.

Why are you gravedigging this topic?

among

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“We are going through the biggest wealth generation opportunity of the century, and people want to participate,” says Meltem Demirors, director of development at Digital Currency Group. DCG oversees a cryptocurrency portfolio including 1% of the total Bitcoin supply. It also invests in startups working on blockchains, accounting tools that use networks of computers to collectively sustain mutually trusted, shared ledgers of transactions, without relying on any outside institutions as middlemen.

The appeal of this tech is stoked by geopolitical unease. Since its inception in 2009, Bitcoin has fed off the festering distrust in institutions sown by the financial crisis. And as populist sentiment has spread in the West, so has the allure of a decentralized currency outside the grasp of governments and banks.

deisik

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Quote from: unknown04 on July 18, 2017, 05:51:48 AM

Quote from: deisik on July 18, 2017, 05:22:43 AM

Quote from: hashtag101 on July 17, 2017, 11:25:29 PM

Quote from: skorupi17 on July 17, 2017, 10:30:48 PM

Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But the question is, are they really withdrawing their bitcoins to their personal wallet? What if they are cashing out their bitcoins already in order to avaoid more casualties? or what if instead of withdrawing, they are jumping on another boat (buying altcoins)? And since we experience major decline in the past days, it is obvious that it is either they cashed out or they jumped to alts.

I know in present, most trader are going 50-80% or 100% their funds to FIAT or USDT. Let's imagine in next time if SegWit2x success and have some good news about Bitcoin, a huge number order buying Bitcoin will happening and the price will increasing very fast, then they will use this amount Bitcoin to buying cheap Altcoin and creating 2x profit from Crypto and USDT

=> USDT -> Bitcoin increasing -> Altcoin increasing too Tongue

I don't quite get your logic

Provided there is any, of course. First, what's the point of buying bitcoins with fiat and then buying altcoins with these bitcoins if you can buy altcoins directly with fiat? And second, I can't possibly see how it could ever give you 2x profit. In fact, I can't even see how you can get any profit at all unless Bitcoin continues to rise substantially above your entry point (which is not given either). Care to explain your reasoning and what am I missing here?

simple, not every country is able to buy altcoin with fiat... not all exchanges are worldwide.... some exchanges only allow people to buy bitcoins.... and this is why there people needs another site to convert them to altcoins....

What do you mean by every country?

People are buying coins at exchanges, and I have yet to see the one that would allow buying bitcoins for fiat and disallow buying altcoins with the same fiat. If you mean some backward exchanges that have only one trading pair (personally, I don't know of any such), then I would stay away from these exchanges in the first place. Further, I still can't see why it would make sense to first buy bitcoins and then convert these bitcoins to altcoins. How could that give you (or me) twice the profits (since that was the point)? I'm eagerly looking for a way to multiply my profits via altcoins

unknown04

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Quote from: deisik on July 18, 2017, 05:22:43 AM

Quote from: hashtag101 on July 17, 2017, 11:25:29 PM

Quote from: skorupi17 on July 17, 2017, 10:30:48 PM

Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But the question is, are they really withdrawing their bitcoins to their personal wallet? What if they are cashing out their bitcoins already in order to avaoid more casualties? or what if instead of withdrawing, they are jumping on another boat (buying altcoins)? And since we experience major decline in the past days, it is obvious that it is either they cashed out or they jumped to alts.

I know in present, most trader are going 50-80% or 100% their funds to FIAT or USDT. Let's imagine in next time if SegWit2x success and have some good news about Bitcoin, a huge number order buying Bitcoin will happening and the price will increasing very fast, then they will use this amount Bitcoin to buying cheap Altcoin and creating 2x profit from Crypto and USDT

=> USDT -> Bitcoin increasing -> Altcoin increasing too Tongue

I don't quite get your logic

Provided there is any, of course. First, what's the point of buying bitcoins with fiat and then buying altcoins with these bitcoins if you can buy altcoins directly with fiat? And second, I can't possibly see how it could ever give you 2x profit. In fact, I can't even see how you can get any profit at all unless Bitcoin continues to rise substantially above your entry point (which is not given either). Care to explain your reasoning and what am I missing here?

simple, not every country is able to buy altcoin with fiat... not all exchanges are worldwide.... some exchanges only allow people to buy bitcoins.... and this is why there people needs another site to convert them to altcoins....

deisik

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Quote from: hashtag101 on July 17, 2017, 11:25:29 PM

Quote from: skorupi17 on July 17, 2017, 10:30:48 PM

Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But the question is, are they really withdrawing their bitcoins to their personal wallet? What if they are cashing out their bitcoins already in order to avaoid more casualties? or what if instead of withdrawing, they are jumping on another boat (buying altcoins)? And since we experience major decline in the past days, it is obvious that it is either they cashed out or they jumped to alts.

I know in present, most trader are going 50-80% or 100% their funds to FIAT or USDT. Let's imagine in next time if SegWit2x success and have some good news about Bitcoin, a huge number order buying Bitcoin will happening and the price will increasing very fast, then they will use this amount Bitcoin to buying cheap Altcoin and creating 2x profit from Crypto and USDT

=> USDT -> Bitcoin increasing -> Altcoin increasing too Tongue

I don't quite get your logic

Provided there is any, of course. First, what's the point of buying bitcoins with fiat and then buying altcoins with these bitcoins if you can buy altcoins directly with fiat? And second, I can't possibly see how it could ever give you 2x profit. In fact, I can't even see how you can get any profit at all unless Bitcoin continues to rise substantially above your entry point (which is not given either). Care to explain your reasoning and what am I missing here?

hashtag101

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Quote from: skorupi17 on July 17, 2017, 10:30:48 PM

Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But the question is, are they really withdrawing their bitcoins to their personal wallet? What if they are cashing out their bitcoins already in order to avaoid more casualties? or what if instead of withdrawing, they are jumping on another boat (buying altcoins)? And since we experience major decline in the past days, it is obvious that it is either they cashed out or they jumped to alts.

I know in present, most trader are going 50-80% or 100% their funds to FIAT or USDT. Let's imagine in next time if SegWit2x success and have some good news about Bitcoin, a huge number order buying Bitcoin will happening and the price will increasing very fast, then they will use this amount Bitcoin to buying cheap Altcoin and creating 2x profit from Crypto and USDT

=> USDT -> Bitcoin increasing -> Altcoin increasing too Tongue

unknown04

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if all goes well, im hoping to see a great pump to 3k

skorupi17

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Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But the question is, are they really withdrawing their bitcoins to their personal wallet? What if they are cashing out their bitcoins already in order to avaoid more casualties? or what if instead of withdrawing, they are jumping on another boat (buying altcoins)? And since we experience major decline in the past days, it is obvious that it is either they cashed out or they jumped to alts.

Apollo777

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If there is a pump, will most likely happen before Aug 1st. Smart money moves fast.

deisik

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Quote from: Kprawn on July 15, 2017, 11:07:36 AM

Quote from: South Park on July 15, 2017, 10:14:43 AM

Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But that scenario is only possible if most people decide to withdraw to their wallets, if instead of doing that they decide to sell their bitcoin for altcoins or fiat then there will be more supply of bitcoin and then the price will decrease, so it is not easy to predict what it is going to happen.

When Bitcoin takes a dive, Alt coins follow, so using Alt coins as a safe heaven is actually stupid

It kinda looks you are heavily uninformed

What you say might have been true half a year ago, but if you had followed Litecoin price dynamics recently, you would have noticed dramatic changes that happened within the last few months. Litecoin has been rising when Bitcoin has been stagnating, and right now, while it still goes down in dollar terms along with Bitcoin, it actually rises in Bitcoin terms. So if you want to stay in crypto without moving to fiat (which might have a better decision anyway, I mean, to cash out), Litecoin is a safe haven of sorts. In any case, it seems to be a better choice to keep your funds in if you don't want to leave crypto

BCTBF

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Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

I'm sure prices will increase again but with a long time maybe late August or longer, because I'm not sure bitcoin prices will increase quickly after the implementation segwit2x on the 1st of August.

Kprawn

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Quote from: South Park on July 15, 2017, 10:14:43 AM

Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But that scenario is only possible if most people decide to withdraw to their wallets, if instead of doing that they decide to sell their bitcoin for altcoins or fiat then there will be more supply of bitcoin and then the price will decrease, so it is not easy to predict what it is going to happen.

When Bitcoin takes a dive, Alt coins follow, so using Alt coins as a safe heaven is actually stupid. You just start buying before the 1st of Aug

when the price is at it's lowest and then push it to cold storage. You wait it out after the 1st of Aug, to see what the consequences will be of all

of this and then sell on the longest chain and continue as normal. Grin

South Park

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Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

But that scenario is only possible if most people decide to withdraw to their wallets, if instead of doing that they decide to sell their bitcoin for altcoins or fiat then there will be more supply of bitcoin and then the price will decrease, so it is not easy to predict what it is going to happen.

deisik

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Quote from: el kaka22 on July 14, 2017, 12:09:37 PM

Quote from: jaberwock on July 14, 2017, 12:05:10 PM

No way there will be a pump. No one know exactly what will happen in August, so they will probably sell. And it is recommended that those holding Bitcoins leave them on their own wallet, not in exchanges, so the trade volume will be tiny.

Maybe some days after the 1sts August there will be a quick recovery, if things went well in 1, August.

Fork will get us an enhanced bitcoin system. It means it will start processing more transactions for every block hence there will be no more need of paying higher transaction fees. Then why should we sell. Anyone who understand what is going to happen will never think about shorting. We must support bitcoins system in its hard times rather than looking for short term profits. I am not going to sell, instead I may buy more now.

Which fork do you refer to?

If you mean a soft fork as per UASF (BIP148), then I'm all in. But as many experts, semi experts, and wannabe experts have already said, it is set to fall flat on its face unless something really extraordinary is going to happen (e.g. Satoshi coming out of his hide-out and strongly supporting UASF). If you in fact mean a hard fork by miners, and we consider this possibility seriously, then it would be bordering on ridiculous to think that miners are really wanting SegWit with Bad Blocks since they obviously want everything to remain as it is, i.e. high prices coupled with high fees

el kaka22

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Quote from: jaberwock on July 14, 2017, 12:05:10 PM

No way there will be a pump. No one know exactly what will happen in August, so they will probably sell. And it is recommended that those holding Bitcoins leave them on their own wallet, not in exchanges, so the trade volume will be tiny.

Maybe some days after the 1sts August there will be a quick recovery, if things went well in 1, August.

Fork will get us an enhanced bitcoin system. It means it will start processing more transactions for every block hence there will be no more need of paying higher transaction fees. Then why should we sell. Anyone who understand what is going to happen will never think about shorting. We must support bitcoins system in its hard times rather than looking for short term profits. I am not going to sell, instead I may buy more now.

jaberwock

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No way there will be a pump. No one know exactly what will happen in August, so they will probably sell. And it is recommended that those holding Bitcoins leave them on their own wallet, not in exchanges, so the trade volume will be tiny.

Maybe some days after the 1sts August there will be a quick recovery, if things went well in 1, August.

moviebuff777

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Quote from: brandeany on July 13, 2017, 03:53:45 AM

Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?

If the split doesn't happen, the price of bitcoin could increase. If everyone is expecting this fork and they expect a price drop as a result, then it seems likely that if nothing happens, people will jump back in aggressively.

Either way, I think bitcoin will eventually recover and the price will reach new highs at some point down the road, possibly next year.

Kronos21

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Quote from: alyssa85 on July 14, 2017, 03:46:13 AM

When Ether had it's hard fork (and some people continued to mine ETC), the price tanked and stayed down for about nine months.

Speculators don't like these kinds of contentious disagreements. And there will be alts waiting on the sidelines hoping to take advantage and be the bitcoin killer.

And what now is Ether? If bitcoin has objective reasons for the price reduction that is why they talked about Ether? In the fall of bitcoin no one is interested so all come to an agreement after August 1, all will be well.

deisik

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Quote from: digaran on July 13, 2017, 10:59:23 PM

We are looking at it like it's a girl and when some body talks about sharing/split we get mad and our blood start boiling for no reason lol it's not a girl.
I believe Bitcoin should split every 8 years and those new chains also could split after 16 years and then 32 years and so on, eventually we'll have 6-10 coins but we know they are all forks of BTC, that is why I'd say devs should plan these forks themselves and not letting strangers to code these new coins

You seem to be confused

Splitting Bitcoin is not like making a Bitcoin copycat and creating a new altcoin. I don't think there will be many people honestly objecting to a new altcoin based on Bitcoin, and this is what you seem to actually mean. Splitting is more like someone taking your wife (provided you have one, of course) and claiming that she is no longer just your wife. What is it if not communism in disguise and will you like it?

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Quote from: Bitcoinsummoner on July 14, 2017, 04:23:05 AM

Well i think we should don't focus speculate what will happen in august 1 you should think that the price drop was normal every year..
Expect that we will experience of price drop just a little bit this coming august but we will see a large pump of the price if we will see a good result that can push the value more high i am expecting that the price could be hit $3,500 after activation..
So its still possible that bitcoin will pump but we will experience small drop price..

i am agree with you. for people which have join bitcoin for a long time ago, i think they are experience to see the price is drop and i think they don't panic because of august 1. if there will be a real pump coming in august, then i am sure that many people is waiting this moment and i am sure that they don't want missed the moment. i am sure that after the end of this month, after august 1, the price will be increase soon so lets we waiting this moment.

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