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Topic: An answer to Bitcoin panic mongers (Read 136 times)

member
Activity: 210
Merit: 26
High fees = low BTC price
April 22, 2018, 01:35:25 PM
#2
BULLSHIT

This forum is loaded and posts from the other side are being removed without trace and are being weighted down like
this one.

Quote
The little image Google is feeding me for the Bitcoin price chart looks like a flat line up to about mid 2017 and then
it spikes up to $15,000 (NOT $20,000) and looks like it's going to flat line again which is not such a surprise given that the
world now knows that it can cost as much as $55.00 to conduct a single transaction using Bitcoin.

My plan was to jump out at about $50,000 because it was obvious that this was Tulip Mania version two
but the miners got too greedy, too soon and now Joe Six pack is never going to come and fortunately I read
the writing on the wall and panic sold at $18k  Cheesy

Since then I have found out that the Lightning Network is just a system of centralized off block banking hubs
and are already charging 0.65% per transaction which is more than anyone else is charging and even worse than
high street banks.

https://www.youtube.com/watch?v=UYHFrf5ci_g

if you are playing with money you cannot afford to gamble then give in with the pipe dream about money for
nothing from your gambling "Investment" and get out now whilst you still have a shirt on your back and don't listen to the
many gambling addicts here and paid trolls that will still be talking about buying on the dip as bitcoin goes below $1000.

OP wants spoon feeding by mother and protection by daddy but the numbers down't lie, was a baby when fees in December hit
$55 and the poor boy didn't know how to read the writing on the wall.




member
Activity: 294
Merit: 10
JOIN THE NEXT MEGATREND IN CRYPTO!
April 22, 2018, 01:27:44 PM
#1
I'm really tired of the clone posts asking things like "HOW LONG WILL BTC LIVE?", "IS THERE ANY FUTURE FOR BTC?", "IS BTC GONNA DIE", etc.
Before asking such questions I would recommend the panicing topic starters to look through the following facts.

1. What factors influence the price of Bitcoin?
There are a number of factors that affect the price of Bitcoin over time.
The main factor is market demand and offering. The basic principle of the economy is that if people buy currency, its price grows, and if people sell currency, its price falls. Bitcoin is no exception. In autumn 2013 the BTC price rose 10 times as a result of the huge demand from Chinese investors.
Another thing is that the maximum number of Bitcoins is limited to 21 million. More than 16 million BTC have already been mined and more than 14 million people have wallets for storing Bitcoin. The number of wallet holders is growing rapidly, and since the amount of Bitcoin is limited, its price will continue to grow.
News in the media. Both positive and negative news in the media have a strong impact on the behavior of investors, and therefore the current price of Bitcoin.
Technical problems. Bitcoin has open source code, so anyone can explore it. New updates to fix weaknesses in the code can give a boost for price increase. Meanwhile, successful hacks or server attacks can bring BTC exchange rate down.
Political and economic events. In the era of globalization decisions made even in a single country can have a serious impact on the whole world. For example, the decision to accept Bitcoin as a method of payment in Japan caused a significant increase of BTC price.
High volatility, which is the degree of change of the trading price over time. It is the most important financial indicator in the management of financial risks. Bitcoin's volatility is now about 10 percent, but it is constantly declining.

2. What were the most significant fluctuations of the price of Bitcoin?
In the history of Bitcoin there were several significant fluctuations of its value.
Technical reasons
In February 2011 Mt.Gox began exchanging dollars for bitcoins. As a consequence, the price immediately rose from $0.05 to more than $1.
In February 2014 Mt.Gox underwent a DDoS attack on its servers. And since Mt. Gox controlled more than half of all Bitcoin transactions, the BTC price decreased by 40 percent.
International events
Between October and November 2013 many organizations around the world began accepting payments in BTC. Chinese investors began to massively buy Bitcoins. Not surprisingly, during this period the price rose from $120 to $1,150.
In December 2013 the People's Bank of China banned accepting payments in BTC, and the price went into free fall to $500.
Mass media
In April 2010 an updated version of the source code was published resulting in a 10 time increase of BTC price.
In April 2011 the Time magazine published an article about Bitcoin, where the author mediated about future prospects of cryptocurrencies. Shortly thereafter Bitcoin's price rose from $10 to $30.

3. What will happen with the price of Bitcoin?
Theoretically, technical problems and limitations, problems with the code, political events and decisions carry potential risks for Bitcoin.
Nevertheless, at present there are no clear prerequisites for its devaluation.
Bitcoin is quite young (less than 10 years old) and it has huge potential for growth.

Therefore, in order to learn more about current and future trends, monitoring the market and keeping abreast of the news is the best thing we all can do.

Good luck with your investments.. and don't panic!  Wink
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