let the feeble minded sell their coins cheap
those who understand-are either holding or buying,long term players,investors
the ones who are here just for speculation will be selling,it is hard not to sel las a trader when your asset is falling 7% every day for 3-4 days in a row
I hope we see prices around 1500$ by the 1st of August,or rather have it resolved earlier with segwit2x but anything can happen
what I'm sure of is that the market will be growing like mad after lets say,10th of August
Topic: [2017-07-14] Dispute could mean financial panic in bitcoin (Read 5805 times)
Please, Please, Please .... let the FUD and bullshit continue for a little bit longer. We want this fake "financial panic" to push down the price of
bitcoins even further for us to quickly get back in, before the split happens. I want to buy as much of these cheap coins as I can before the 1st of
Aug 2017. It has to go from exchanges to cold storage in as little time as possible.
bitcoins even further for us to quickly get back in, before the split happens. I want to buy as much of these cheap coins as I can before the 1st of
Aug 2017. It has to go from exchanges to cold storage in as little time as possible.
Yes, I also want to see a lot FUD to be a bit longer and shake the bitcoin market. Let those who want to get out of it sell. I'm sure they gonna regret it later when they see the price of bitcoin go up again in the future. Also the price going down is a also a good time to buy bitcoin and accumulate it in your wallet before the Aug 1 "doomsday", as others have put.
The panic definitely seems to be reflected in the price. We are already below $2000 and seem to be in bear market territory.
A fork might not be bad for the community after all. It is time everybody realized that.
A fork might not be bad for the community after all. It is time everybody realized that.
The fork is meant to solve the big problem within Bitcoin that needs to be addressed head-on. The problem really here is that there are more speculations than facts. As Bitcoin is decentralized so does its release of information regarding the scenario that can play on and after August 1.
I am looking for an authoritative figure in the Bitcoin community whom we can look up to for correct information and get away from so many garbage and self-serving sharing of ideas and speculative scenarios.
Seriously, an authoritative figure? That's the exact opposite of what Bitcoin was created for. Who will be the authority figure? You don't think they'll be a self serving douche either? Bitcoin is getting destroyed because it's to centralized as is.
This article is completely inaccurate and a poor example of journalism. Well, we know that big TV networks and mainstream media in general tend to inaccuracies or even blatant lies when writing about Bitcoin, but CNBC is supposed to be a business-oriented network so I think one can expect more.
Why is it inaccurate? It ignores completely that "the new system" (they're talking about Segwit, of course) very probably will be supported by miners in the Segwit2x/BTC1 incarnation. There is 84 to 87% support, as of now, and 80% are needed.
Why is it inaccurate? It ignores completely that "the new system" (they're talking about Segwit, of course) very probably will be supported by miners in the Segwit2x/BTC1 incarnation. There is 84 to 87% support, as of now, and 80% are needed.
Please, Please, Please .... let the FUD and bullshit continue for a little bit longer. We want this fake "financial panic" to push down the price of
bitcoins even further for us to quickly get back in, before the split happens. I want to buy as much of these cheap coins as I can before the 1st of
Aug 2017. It has to go from exchanges to cold storage in as little time as possible.
bitcoins even further for us to quickly get back in, before the split happens. I want to buy as much of these cheap coins as I can before the 1st of
Aug 2017. It has to go from exchanges to cold storage in as little time as possible.
The panic definitely seems to be reflected in the price. We are already below $2000 and seem to be in bear market territory.
A fork might not be bad for the community after all. It is time everybody realized that.
A fork might not be bad for the community after all. It is time everybody realized that.
The fork is meant to solve the big problem within Bitcoin that needs to be addressed head-on. The problem really here is that there are more speculations than facts. As Bitcoin is decentralized so does its release of information regarding the scenario that can play on and after August 1.
I am looking for an authoritative figure in the Bitcoin community whom we can look up to for correct information and get away from so many garbage and self-serving sharing of ideas and speculative scenarios.
The panic definitely seems to be reflected in the price. We are already below $2000 and seem to be in bear market territory.
A fork might not be bad for the community after all. It is time everybody realized that.
A fork might not be bad for the community after all. It is time everybody realized that.
What's really surprising is how Bitcoin news continues to feed the very hungry machine. Firstly, "financial panic", if you want to describe it like that is a daily occurrence in markets, least of all crypto which is frenetic and volatile.
Curious to know how Mow sees this outcome as users taking back back their voice though. I don't know anyone in my circle of normal users who see this as an expression of what we want.
Curious to know how Mow sees this outcome as users taking back back their voice though. I don't know anyone in my circle of normal users who see this as an expression of what we want.
Got some bitcoin? An internal dispute over the digital currency could soon mean financial losses, whipsawing prices and delays in processing payments.
It's also possible that nothing much changes. It all depends on whether the people who maintain bitcoin can agree by July 31 to implement a major software upgrade —one designed to improve capacity on the increasingly clogged network.
Not everyone is on board. In particular, some bitcoin "miners," who are rewarded for verifying transactions, aren't supporting the changes. Any split between miners and others who use bitcoin, including a number of startups and a few big companies, could cause a panic in the $39 billion bitcoin marketplace.
So far, bitcoin's value in U.S. dollars has soared amid the uncertainty. It's currently at about $2,300, more than triple what it was a year ago. But bitcoin is notoriously volatile; because the price spiked so rapidly, it also fell quickly, and bitcoin has lost about a quarter of its value since its peak in June at above $3,000.
Here's a look at the current dispute.
What is bitcoin, again?
Bitcoin is a digital currency that's not tied to any bank or government . Like cash, it lets users spend or receive money anonymously, or mostly so; like other online payment services, it also lets them do so over the internet.
The coins are created by computer farms that "mine" them and verify other users' transactions by solving complex mathematical puzzles. Miners receive bitcoin in exchange. It's also possible to exchange bitcoin for U.S. dollars and other currencies.
Bitcoin has been touted as a currency of the future, but so far it hasn't proven very popular as a way to pay for goods or services.
What's behind the fuss?
In a word, speed.
The bitcoin network is limited in how quickly it can shuffle around digital money. As bitcoin has grown, payment delays have become more common and worrisome.
Some software developers came up with a new way to speed things up by reengineering bitcoin's universal ledger, a file called the blockchain. Supporters of the new method include Microsoft, the bitcoin exchange Coinbase and a variety of other bitcoin proponents who would like to see the currency used more widely in commerce.
But this bitcoin software update doesn't have unanimous support.
What happens on July 31?
The reformers say they've run out of patience and have set a deadline for moving to the new system.
At 8 p.m. Eastern time on July 31, they're threatening to stop recognizing transactions confirmed by miners who haven't adopted the upgrade. That would create enormous uncertainty in the bitcoin economy, as no one could really know if the bitcoin they'd just paid (or received) was actually moving through the system the way it's supposed to.
Some big bitcoin miners - like Chinese bitcoin mining equipment giant Bitmain - haven't signaled support for the new system. A rift could result in two or even more incompatible versions of bitcoin.
What would that mean?
Generally speaking, chaos - though mostly limited to those who use or squirrel away bitcoin. No one using bitcoin could be sure which version they held, or what might happen if they spent it or accepted bitcoin as payment.
Taking bitcoin, for instance, could leave you with currency you couldn't spend freely - and that might disappear entirely if it ended up being the "wrong" kind.
That's one reason the community-supported website Bitcoin.org warned users Wednesday not to accept any bitcoin up to two days prior to the deadline and to wait for confirmation the situation had been resolved before trading again.
"It's a rather awful situation," David Harding, who posted the warning for Bitcoin.org, said in an email.
What's behind this fight?
Money, of course. Some companies that pool miners together believe the new system could result in lower transaction fees, cutting into their profits. At the same time, the reformers foresee new business opportunities in a faster, more reliable form of bitcoin.
Samson Mow, chief strategy officer at blockchain developer Blockstream, said the looming showdown has been propelled by bitcoin users frustrated at having a "simple bug fix" blocked by miners out for profit.
"People are fed up," he said. "The users are taking back their voice."
http://www.cnbc.com/2017/07/14/dispute-could-mean-financial-panic-in-bitcoin.html
It's also possible that nothing much changes. It all depends on whether the people who maintain bitcoin can agree by July 31 to implement a major software upgrade —one designed to improve capacity on the increasingly clogged network.
Not everyone is on board. In particular, some bitcoin "miners," who are rewarded for verifying transactions, aren't supporting the changes. Any split between miners and others who use bitcoin, including a number of startups and a few big companies, could cause a panic in the $39 billion bitcoin marketplace.
So far, bitcoin's value in U.S. dollars has soared amid the uncertainty. It's currently at about $2,300, more than triple what it was a year ago. But bitcoin is notoriously volatile; because the price spiked so rapidly, it also fell quickly, and bitcoin has lost about a quarter of its value since its peak in June at above $3,000.
Here's a look at the current dispute.
What is bitcoin, again?
Bitcoin is a digital currency that's not tied to any bank or government . Like cash, it lets users spend or receive money anonymously, or mostly so; like other online payment services, it also lets them do so over the internet.
The coins are created by computer farms that "mine" them and verify other users' transactions by solving complex mathematical puzzles. Miners receive bitcoin in exchange. It's also possible to exchange bitcoin for U.S. dollars and other currencies.
Bitcoin has been touted as a currency of the future, but so far it hasn't proven very popular as a way to pay for goods or services.
What's behind the fuss?
In a word, speed.
The bitcoin network is limited in how quickly it can shuffle around digital money. As bitcoin has grown, payment delays have become more common and worrisome.
Some software developers came up with a new way to speed things up by reengineering bitcoin's universal ledger, a file called the blockchain. Supporters of the new method include Microsoft, the bitcoin exchange Coinbase and a variety of other bitcoin proponents who would like to see the currency used more widely in commerce.
But this bitcoin software update doesn't have unanimous support.
What happens on July 31?
The reformers say they've run out of patience and have set a deadline for moving to the new system.
At 8 p.m. Eastern time on July 31, they're threatening to stop recognizing transactions confirmed by miners who haven't adopted the upgrade. That would create enormous uncertainty in the bitcoin economy, as no one could really know if the bitcoin they'd just paid (or received) was actually moving through the system the way it's supposed to.
Some big bitcoin miners - like Chinese bitcoin mining equipment giant Bitmain - haven't signaled support for the new system. A rift could result in two or even more incompatible versions of bitcoin.
What would that mean?
Generally speaking, chaos - though mostly limited to those who use or squirrel away bitcoin. No one using bitcoin could be sure which version they held, or what might happen if they spent it or accepted bitcoin as payment.
Taking bitcoin, for instance, could leave you with currency you couldn't spend freely - and that might disappear entirely if it ended up being the "wrong" kind.
That's one reason the community-supported website Bitcoin.org warned users Wednesday not to accept any bitcoin up to two days prior to the deadline and to wait for confirmation the situation had been resolved before trading again.
"It's a rather awful situation," David Harding, who posted the warning for Bitcoin.org, said in an email.
What's behind this fight?
Money, of course. Some companies that pool miners together believe the new system could result in lower transaction fees, cutting into their profits. At the same time, the reformers foresee new business opportunities in a faster, more reliable form of bitcoin.
Samson Mow, chief strategy officer at blockchain developer Blockstream, said the looming showdown has been propelled by bitcoin users frustrated at having a "simple bug fix" blocked by miners out for profit.
"People are fed up," he said. "The users are taking back their voice."
http://www.cnbc.com/2017/07/14/dispute-could-mean-financial-panic-in-bitcoin.html
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