Topic: [2017-11-13] Bitcoin retains its crown as crypto king (Read 7780 times)

BTC has never lost its crown....it's just an expected dip. Just a sudden rise of BCH make people think that BCH will be the new king or so....but all this is a created propaganda by some influential people to soar BCH in order to gain the profit. But that bullish trend won't able to last for 3 days. Again all started shifting to BTC. BTC recovered and created a new record in just 3 days.

I could not agree more. But then I think Segwit2X was not the last hard fork attempt and Bitcoin Cash comes out of this drama stronger than before. So we'll see more poison in crypto than before because everyone wants to benefit from BTC forks (the new ICOs) and the BCC clan wants to claim the throne. Seems like everything has to end in drama

In the coming months, the same drama can unfold but one thing for sure Bitcoin will always remain on its throne as the King. Well, do we have to kill the King just to make another coin prop in value? Actually, there is no need for such a bloody mess as all coins can co-exist peacefully with each other. We are all part of the cryptocurrency movement and if we are not united then maybe the dreamed massive adoption will not come true. Division and putting down each other should never be the hallmark that should define us here in the cryptocurrency movement. let BitcoinCash be the Queen and Bitcoin as the King...now please don't poison the King so that the Queen can assume the throne because there can be a bloodbath when that can happen.

It seems to me that we do not need a functional bitcoin with low transaction capacity, but a crypto currency that will fully meet our needs. The original bitcoin has now become too slow and more fulfilling the function of storing value than the function of a payment facility. Either the development team will eliminate this shortcoming, or people will look for another crypto currency such as bitcoin in cash, as evidenced by the events of the last days with the fall of the original bitcoin and the increase in the bitcoin cash rate.

These type of value rise and fall immensely effects the market and reputation of bitcoin .
People dumping their bitcoin and moving towards Bitcoin cash due to cancellation of s2x was a big reason behind it .  As  more and more people are getting involved in it , the sole nature of bitcoin is also getting modified due to which all the delays and things were happening recently . I would say , bitcoin is obviously going to stay as a king for a long long time but people need to show more maturity towards its usage instead of rushing to some foolish decisions that might affect bitcoin.

Bitcoin retains its crown as crypto king — but issues still hang over the cryptocurrency

After a shaky weekend, bitcoin is king again but issues still hang over the digital currency.

Bitcoin crashed more than 25% from Wednesday's all-time high of $7,721 a coin to a low of $5,617 Sunday. During its fall, bitcoin's market cap as a percentage of the entire crypto-market dipped below 50% for the first time since early October, according to CoinMarketCap.com.

Bitcoin cash, on the other hand, witnessed an impressive rally that propelled the coin to a record-high of $2,500 early Sunday morning.

By Monday morning, however, the situation was flipped.

At 9:40 a.m. ET, bitcoin was trading up 10.9% at $6,544 and had regained its more than 50% command of the cryptocurrency market. Bitcoin cash was trading down 20% at $1,262 per coin.

Bitcoin cash spun out of the original bitcoin network in August. Backers of the upstart coin thought its design would better help bitcoin's scaling problem. As more folks have poured into bitcoin, transactions have gotten more expensive and slower on bitcoin's network. That's made it difficult for bitcoin to mature and truly rival the scale of larger incumbent payment systems such as Visa and MasterCard.

AllianceBernstein noted some of the issues facing bitcoin in a note out to clients November 10.

The financial services firm test drove bitcoin to compare it to similar networks, like PayPal. The firm didn't think the coin was able to hold a candle to its reputation as a quick and cheap way to send money internationally.

"The bitcoin transaction required more steps, took more time, and was less intuitive than traditional services," the note said.

"The process of using bitcoin was significantly more complex and less intuitive than using traditional cross-border remittance service," the firm added.

Despite these difficulties, bitcoin's command of the market gives it a huge leg up over its rival cryptocurrencies.

Matthew Goetz, the founder of cryptocurrency hedge fund BlockTower Capital, told Business Insider that bitcoin's massive scale would require a competitor coin to have substantially better capabilities.

"It's something like Facebook," Goetz said. "If someone creates a new Facebook that has slightly better features, say 10% better. That's great, but network effects are strong. So, that new thing isn't going to kill Facebook."

Out of the more than 1,000 cryptocurrencies in existence, bitcoin appears to be getting the most attention from traditional Wall Street firms.

Two of the largest exchange groups in the world, for instance, are preparing to launch bitcoin futures in the short term and big trading firms have indicated they would provide liquidity to such a market place. 

source: http://www.businessinsider.com/bitcoin-price-up-but-issues-still-hang-over-the-cryptocurrency-2017-11

BITCOIN never lost its throne...we all were expecting a downfall in BTC price after hard fork on Nov16. But as Segwit2x canceled crash is more worst. Its just a fomo move....nothing to worry about that. People start BCH, just for no reason, Just like panic selling...it was exciting buying. Neither panic nor excitement remain for too long. Effect soon vanished...again train is on right track.