Bitcoin Gold Fork just costs Bitcoin $5B! - page 2.

SlaughterGirl

sr. member

Activity: 288

Merit: 250

Quote from: pat4cryptoreal on October 24, 2017, 03:29:32 PM

We all know that why most people bought bitcoin which directly leads to the appreciation in the price of bitcoin was to get BTG equivalent. I really know that the price of bitcoin will drop immediately after the fork but bitcoin price will still go up later.

demand for BTC is increasing, and btc prices reach the highest price. this happens spontaneously and unplanned. I am worried about fork BTC prices will fall until the end of this year.
there is no certainty btc touching the value of $ 6000 next year.
forget about BTG and refocus to Bitcoin.

Nathan047

sr. member

Activity: 504

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You need to keep in mind the fact that many people sold their altcoins and bought Bitcoin because of the fork and the free coins that came with it, naturally after the fork many people will sell their BTC and buy altcoins again.

cryptohorsee

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Quote from: Bitcoin Guy on October 24, 2017, 02:47:31 PM

Bitcoin Gold forked Bitcoin today. The current price of Bitcoin is $5700. Dropped from $6200 couple days ago.

Bitcoin Gold is endangering Bitcoin in at least 2 ways - 1. It does not have a replay protection and 2. It causes confusion to new potential Bitcoin investors.

It costs the whole Bitcoin community $5B. Angry

https://www.bloomberg.com/news/articles/2017-10-24/bitcoin-retreats-as-another-offshoot-of-cryptocurrency-appears
- Bitcoin Gold’s arrival pushes spot price down as much as 5.9%

What? It does not work like that... The pump on bitcoin was due to fork it is just simple correction. You have nothing to worry about, it is completly normal. We will see next uptrand just before 2x hardfork Wink

. So again it is the same scenario.

joinfree

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Activity: 1274

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Bitcoingold has not even been listed on coinmarketcap, this shows how useless this coin is, and that it only was useful to decrease the marketcap of Bitcoin, i dont care about the free coins because i didnt received many of them (about 0.20 in total) which is nothing, but i dont mind, i only care about seeing bitcoin going down because of this mess, and this doesnt help bitcoin at all, because the real fork was the first one on August the first.
of course that maybe we need to wait a little bit more, but it seems difficult to wait if we look at how are the things going at the moment.

btcprospecter

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Activity: 504

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To me in the last couple of weeks with the impending bitcoin gold fork seemed to whip up the price of bitcoin as many were trading alts to capitalise on the fork. Bitcoin cash showed us that we could get something for nothing.

We will have to wait and see what bitcoin gold is going to offer us.

Bitcoin Guy

full member

Activity: 350

Merit: 101

Quote from: HabBear on October 24, 2017, 02:56:16 PM

You sound like Jamie Dimon, don't go Dimon on us!

Did I? I do not want to sound like Dimon, but I want to be as wealthy as he is though.

Quote from: Exister on October 24, 2017, 02:54:23 PM

When it happens more and more everyone will get used to it and the new forks will have smaller and smaller marketcaps until people just give up on it.

growing pains.

Good point.

GreatOrchid

legendary

Activity: 1092

Merit: 1001

Before the entire world knew about the upcoming fork, the price was below $4100, i dont understand why are you complaining because we are still up from that price.
But of course that this last drop is a chaos, a lot of people are making panic selling and they are dumping their coins because they think that there is going to be a crash because of this.
I would not dump mine, i still believe in bitcoin and i sold my btg too of course, but that was free money, i dont know why are you complaining at all.

pat4cryptoreal

full member

Activity: 630

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We all know that why most people bought bitcoin which directly leads to the appreciation in the price of bitcoin was to get BTG equivalent. I really know that the price of bitcoin will drop immediately after the fork but bitcoin price will still go up later.

swogerino

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Activity: 3318

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I don't think that Bitcoin gold is the reason of the fall in price of bitcoin, I believe more when a price of a product (even digital one) only keep raising , after the raise in the stock market happens what all people know as a price correction. I think that is what is happening with the actual bitcoin price now. Bitcoin gold as a concept I like it a lot, giving back power to people to mine with their own computers.

HabBear

hero member

Activity: 1106

Merit: 638

The price of Bitcoin Gold has been falling since it's first block, which coincides with the decline of Bitcoin. This means that Bitcoin Gold COULD NOT BE THE CAUSE of Bitcoin's decline...people are selling Bitcoin Gold, not buying it.

What's more disgusting is that the only people who really can sell it are the developers that owned it before it dropped.

Basmic

sr. member

Activity: 406

Merit: 256

Rollback of bitcoin prices we predicted and there is no merit to the bitcoin gold. All exchanges have said they will not allow trade BTG until the development team does not provide security guarantees that the chain of BTG will be different from the BTC chain and the mix of transactions would be impossible. In looking for the problem where it is not.

HabBear

hero member

Activity: 1106

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You sound like Jamie Dimon, don't go Dimon on us!

Quote from: Bitcoin Guy on October 24, 2017, 02:47:31 PM

Bitcoin Gold is endangering Bitcoin in at least 2 ways - 1. It does not have a replay protection and 2. It causes confusion to new potential Bitcoin investors.

What you mean is that Bitcoin Gold is helping Bitcoin. If Bitcoin Gold doesn't offer a better utility than Bitcoin, Bitcoin will continue to be the top cryptocurrency option, it will continue to survive.

Quote from: Bitcoin Guy on October 24, 2017, 02:47:31 PM

It costs the whole Bitcoin community $5B. Angry

https://www.bloomberg.com/news/articles/2017-10-24/bitcoin-retreats-as-another-offshoot-of-cryptocurrency-appears
- Bitcoin Gold’s arrival pushes spot price down as much as 5.9%

The decline in Bitcoin COULDN'T be caused only by selling/trading for Bitcoin Gold because Bitcoin Gold hasn't existed long enough for most people to access it yet!

At the least, please stop spreading fear, uncertainty, and doubt. Most of it comes from media sources like Bloomberg from writers who have a month's old understanding of the market.

At the most, ask more questions about how hardforks impact existing coins so you can educate yourself and others.

Exister

jr. member

Activity: 115

Merit: 2

The valuation of bitcoin gold does not come magically out of nowhere.

Its expense is evidenced by each and every external cost that is imposed on the cryptocurrency community.

It is like bitcoin is a living organism. and it pooped on the ground now we have to clean it up.

When it happens more and more everyone will get used to it and the new forks will have smaller and smaller marketcaps until people just give up on it.

growing pains.

kkent

member

Activity: 98

Merit: 10

Quote from: Bitcoin Guy on October 24, 2017, 02:47:31 PM

Bitcoin Gold forked Bitcoin today. The current price of Bitcoin is $5700. Dropped from $6200 couple days ago.

Bitcoin Gold is endangering Bitcoin in at least 2 ways - 1. It does not have a replay protection and 2. It causes confusion to new potential Bitcoin investors.

It costs the whole Bitcoin community $5B. Angry

https://www.bloomberg.com/news/articles/2017-10-24/bitcoin-retreats-as-another-offshoot-of-cryptocurrency-appears
- Bitcoin Gold’s arrival pushes spot price down as much as 5.9%

Bitcoin's price dropped well before the Bitcoin Gold fork. Even within the Bitcoin community there are many people who have no idea about Bitcoin Gold, so I highly doubt it had much of an effect. I think that the price drop is more of a coincidence than a causation-event.

Bitcoin Guy

full member

Activity: 350

Merit: 101

Bitcoin Gold forked Bitcoin today. The current price of Bitcoin is $5700. Dropped from $6200 couple days ago.

Bitcoin Gold is endangering Bitcoin in at least 2 ways - 1. It does not have a replay protection and 2. It causes confusion to new potential Bitcoin investors.

It costs the whole Bitcoin community $5B. Angry

https://www.bloomberg.com/news/articles/2017-10-24/bitcoin-retreats-as-another-offshoot-of-cryptocurrency-appears
- Bitcoin Gold’s arrival pushes spot price down as much as 5.9%

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