Topic: Alts fall, Bitcoin falls ... where is the money going? - page 2. (Read 5642 times)

This is because of this SegWit activation thingy, it is trending on this forum last week, I hope you are reading stuffs here. The splitting of bitcoin make this scenario happens, all of the Altcoins prices, and bitcoins price was in a huge DUMP, but it is okay right now, though there is still a lot of Altcoins in the market which is not yet rising from its DUMP.

And since this Hard fork thing is done, bitcoin is now targeting its next price which is $4000 and $5000 per bitcoin, and that is what I'm waiting for.

But for some this cause a panic and immediately sold off  their stash. But you can't blame them. That is how its works in crypto. FUD=panic sells, Good News=panic buying. But for those who are really in the game for a long time, a small price dip or price hike didn't affect them because they already know that its gonna be temporary and they just hold on their bitcoin. I think the money is going where it should be, to the people who are cashing it out and used it for whatever reasons like going into vacation or purchasing other items.

The fall of bitcoin and alternative crypto currency is not particularly to be feared. All this is temporary, as has already been the case for many years.

I am just curious if you believe what you said..
then why did you vanish from the Altcoin section ?

You have been gone ever since the great hype started and prices hot up.
Before that you used to run around the alt section defending Ethereum and trashing alts with "Zero sum game" commentary.

It's been what months since i seen you in that section ?

No one cares..
Gimme money.
Fuck you.
Fuck honesty.
Fuck integrity.
Fuck class.
I need to get paid.. i have my mouth to feed dammit.

I see the 3 guys with me in the Altcons section *STILL*
And Dino you are no one of them.
WHEN you went into hiding is the key point here.
Makes me wonder WHY.

Who said that alt coins have to be sold for bitcoin, this is not the case, and while when alts fall and bitcoin rises may be applicable in some cases, this time it is not the case. Bitcoin is now falling due to one main reason. Pre segwit anticipation. People are afraid of the hard fork and segwit on August the first and due to this they are selling their bitcoin. I wouldn’t worry though, I would expect prices to easy go back up after August the first happens.

This.  A big amen.  The essence of crypto is here.  A zero sum game, a pump of value from greater fools to earlier fools and those having their business around it (like miners and exchanges).  Which doesn't mean it cannot be played, if you think that there are still a lot of greater fools, that will pump their value your way, of course

As you point out, it is not even a zero-sum game, because mining makes it lossy.  Value has to be destroyed continuously by bitcoin and every other PoW coin, in order for it to keep on running.   As long as this was compensating seigniorage, this could have a good effect (creating coins wouldn't be pure seigniorage as you have to waste most of it, the inflation tax doesn't go into anyone's pocket (= seigniorage) but is burned into heat of mining equipment).  But in the long run this is not sustainable: you have a zero-sum asset with a value leak in it.

The price of bitcoin is the last price someone paid and someone sold for it. Nothing more, nothing less.

When someone who got in early sells and makes $300, someone who got in later loses $300. It is a zero sum game. For everyone who makes money, someone loses money. This isn't stock where there is a business behind it with profits, losses and reinvestment and where people are employed. This isn't a bond (loan) that generates interest.

And it isn't a dollar. A dollar is what things are priced in. It is not a speculative asset. You can't compare the "value of the dollar" against an asset value because the dollar is what things are priced in. Nobody holds dollars. They hold stocks, bonds, real estate, etc. And most people are short dollars, they have borrowed dollars and bought assets (mortgaged homes, financed cars, etc.).

Additionally, money is taken out by miners in terms of coins mined and transaction fees. Every time an exchange is made, money goes to the miners. If the transaction fee was 1%, after 10 transactions, the miners own 10.46% of the bitcoins transacted.

There is no money "in bitcoin". Bitcoins are exchanged for a price. If there are no buyers at the current price, you can't sell. You can only sell to another buyer. And there is nothing behind it. Saying "there is nothing behind the dollar" and trying to compare it to the dollar doesn't make sense. Things are priced in dollars. People don't buy dollars and hold them hoping for a gain. They buy homes, stock, bonds, real estate, clothes, food. They get a paycheck each week and either pay down borrowed dollars, buy assets with it, put it in an interest bearing account (which is a loan to a bank, it is not dollars), buy stock, etc.

So, where is the money going.. money is being taken by miners and early buyers and money is being lost by people who bought in recently.

The money is leaving the market that's why nearly everything has dropped a ton the past few weeks. Think about it, 30 billion us dollars have been flowing out of the market in the past 3 weeks. That pretty much explains it all.

I think that before buying bitcoin, it is better to wait until the price stops declining and stabilizes for some time before buying some bitcoin, the most important thing is to buy bitcoin at its lowest value so the only thing that bitcoin can do after you buy is to go up, that way you can get some very easy profits if you are able to determine the floor of the price of bitcoin.

Money does not go anywhere, it's the risk when you use a virtual currency, the money you invest is real, but its existence is always virtual, and it can be lost anytime.

Lol I have been asking myself thesame question too. The more try to solve the mystery the my head hurts. I didn't go through the comments before replying maybe I will get some good answer if I do.

The August 1 event is creating a panic to bitcoin holders and some cryptos are being dragged into. I dont panic at all, lets see what happen and stay positive after all,  these improvements are for bitcoins own good. No matter what  happen i still believe in it.

As a way to stay safe regardless the way things turn out after August 1st, but should the price of Bitcoin plummets soon afterwards, I'm afraid the selling price of any of those would not be able to buy back the original amount of Bitcoin. Better way to stay safer, must be not to liquidate all.

Maybe but for now I think this is just a bounce, things will go down a bit more before going back up, but nobody knows

Money is going to FIAT to hedge for the bitcoin fork IMO. Market cap has gone from 114 billion at it's peak to low 80 billion as of right now. A lot of ICO projects also cashed out to cause this.

There is an unnecessary but inevitable panic over the soon coming fork in the Bitcoin road.  It will not have a long lasting effect, worry not my friends! Bitcoin will be worth $3,000 by November.

People who are into bitcoin from the beginning will be holding a hell lot of coins and people who are holding those wont sell out everything right now as they will be holding atleast ten percentage for the future and if the big holders were to see the coins now the price would have gone down already and that is not the case.

yeah there's no doubt that all the money goes to those people who have bought a lot of bitcoin so cheap in early  2009 or so and still holding it until they decide to sell it gradually a little by little. and recently they might have done a pump systematically , that's what i believe . an early adopter still out there holding tons bitcoin waiting for the right time to execute the market.

I'm proposing what and who is listening that has such power to regulate crypto? all I'm saying is pointed at traders with parkinson poor things can't hold something, they just dump, but the important part of this story is where all of this started?
When Wu announced and threatened to hard fork and split bitcoin = Chinese manipulation = don't sell your coins and let them mine instead and when they see mining is what got them here in the first place, he wants not only to mine all the coins but also wants to mine them faster since he c*ms as soon as he touches a boob he doesn't want to see anything with more stamina and delay even if it's a soul less network
I don't know how many times should I humiliate and insult him

Altcoin go to bitcoin and bitcoin go to fiat,that's what happen
August 1 is feared by many weak hands,they will not take risk for what will happen later
But for pro,with this red candle going on,it is time to buy coin that will have a big future and make profit in a couple of months