Topic: Lets fight the FUD together - page 7. (Read 2334 times)

The fees are lower because the  number of transactions on the BTC network decreased by nearly 50% compared to 1 month ago
https://blockchain.info/charts/transactions-per-second?daysAverageString=7×pan=60days

1 block per 10 minutes = 144 blocks mined per day However in January we got over 160 blocks mined daily, for an unknown reason to me

And recently, more and more people have now started to use payments in batch, native segwit, dynamic fee estimation as described here some days ago https://en.bitcoin.it/w/index.php?title=Techniques_to_reduce_transaction_fees&action=history

As for Cash App and Robinhood, I have nothing to say other than LOL

I think the community is used now with the fake news, and people outside the crypto community are also used with fake news. The problem is media that don't understand what news they got (high-quality standard in journalism in 2018)

I think you are doing the right thing about tether. I think that is the most rational decision for people that don't trust them. I personally think there are some shady things going on, and I doubt they are doing a 1:1 ratio between tether and dollar. On best case scenario, they would be partial holding the funds investing by users. It's what banks do, so although it should work and it wont probably collapse, I still think it's a bad option to hold tether, so selling them for crypto is the best choice, and that's why I think it's stupid to see prices dropping because of this issue.

well I'm actually just interested in news about samsung going to make a chip that is specific to mining
this is good news because day by day the stock of high-end vga (RX series 560,570,580, Vega and GeForce series 1050,1060,1070 and 1080) is getting rare

besides that news about tether really impact on bitcoin price but it actually does not only affect the bitcoin but also affects all altcoins
that's why I sold all my tether and bought ethereum

Never forget; you don't loose anything unless you sell it ! 

I don't really trust tether, and I never use it. Like I said I'm all cash on my trading bankroll right now, because we are on a down trend, and I mainly try to play oversold bounces, but I trade with real USD and not tether.

Since I don't trust tether, I don't understand how people sell BTC for tether. If they want a way out of tether, they should sell it for BTC instead.

As for margin trading I never do it because I think it's just suicide in crypto, since it's volatile enough in my opinion. But doesn't it just work almost like a "loan" from the exchanges? Exchanges just offer leverage, but in order to do that they need to have the funds and the price wont rise more than the actually tether in circulation (don't know I this statement was clear enough, but I don't know how to put it in a different way).

I do believe they removed it because of high fees. The thing is, if they are true about using crypto, why not offer an alternative? I would understand their move if they accepted another coin with low fees, instead of bitcoin. If they didn't, then the fees can't be the only reason. I'm just saying that.
You run a company and you want to offer crypto as a payment method. You give up BTC because the fees are high. Won't you offer a better alternative then, after you removed bitcoin? If you don't then you are saying that you don't believe in crypto (unless like I said they just trust bitcoin, and they are waiting for BTC to be usable again).

Sorry, I made no comment on this one, because I don't know Stripe. I will check it out. Anyway, if they make the same move as steem, then my answer will probably be the same. If they are serious about using crypto as a payment method, and they have problems with BTC because of high fees, then they need to accept another coin that has low fees and keep crypto support.


I hate the current fees, even now, that they are lower I still hate them. But I understand that BTC is in development so I will not just massive sell.
What I said was that when the fees were high, people were still crazy about BTC, and the price was increasing, so it didn't really matter to them, so the drop in price can't be fee related.

And again, I'm not defending fees. I don't like them, but it makes no sense to massive sell BTC because of that. People would simply hold BTC and wait for the LN. Why massive sell? It's irrational to do it because of fees.

And again, if the fees were the problem, they would sell BTC and buy an alternative. There are plenty of coins with low fees out there. Why aren't those pumping as the alternative to BTC? Simply, because the problem is not fee related. They are afraid that crypto might collapse, and become illegal, and be banned by governments etc. (so again, it's FUD related and not fee related.)

This is a misconception.

You can easily move the Bitcoin price by several hundred $ with 10M $ in bids.
Imagine what these Tether issuances of 50-100M $ could do. Some people also
suppose that many USDT are used for margin trading, which intensifies their effect
even more.

People believed that the 2017 bull run was due to good news like
the introduction of Bitcoin futures. If Tether would be exposed as a fraudulent
operation and people realize that the majority of the bull run was caused
by printing USDT that would set back Bitcoin for years.

You should also take a look at www.tetherreport.com and their work.

Especially this takeaway:

You shouldn´t underestimate the impact of Tether. It´s not just FUD.

However, I agree with your general post and I think you are definitely spot on
about the India, China and South Korea news.

Good post, I just happen to disagree on the Tether situation.

Ok, believe what you want to believe and I will believe what I want to believe.

Steam wasn't serious about crypto? No, they were, that is why they accept it. They removed it because of high fees.
Stripe? No comment, right?
They are going to remove bitcoin because of high fees.

Funny thing that you are mention network and 30K unconfirmed trasactions it is because people stop using bitcoin because of high fees.

Just few days ago we had 300K unconfirmed transactions and 1000 sat/byte fee, so yeah, it is not because of fees people are using alternatives, it is because of FUD. You can't seriously believe in that.
No one wants to pay 50$ for 10$ transaction.

Yeah, NOW fees are low.
Speaking of LN which is still in beta, I don't want to talk about unfinished products, but hopefully when they release it it will blow.

Well, one thing lead to another.

I don't think so. All these price crash started to happen when all those (fake) news went out and many people believe on that.
Of course it's true that bitcoin has this very high fees and it's not helping but I don't think it's enough reason for them to dump everything.
I somehow agree with Bolt Brownie and fighting FUD together will really help.

I'm not having losses. Like I said I don't let emotions affect my trade. I know the market is crashing right now, so I separate things. I have bitcoin for long term (don't plan to trade or sell them, I intend to use them in the future), that are obviously outside exchanges, and I have a small amount of cash in exchanges. Since I know the market is on a down trend I keep those funds in all cash mode. This way I can buy dips like we had today, and then sell again for profit, so I actually increase my bankroll even if the market crashes.

This thread has nothing to do with trading. And although I already had some profit today (bought around $8500 and sold around $9k, so I got a 6% profit today), that doesn't mean I don't get sad with what is happening.

From a trading point of view, this is great, but I prefer bitcoin usability over trading opportunities, and that's why I get sad when I see these irrational behaviors.


Nope, that is mentioned in the news, and the fees argument is not valid for the market crash.
Fees are much lower now 36980 Unconfirmed Transactions just check https://blockchain.info/unconfirmed-transactions
We had almost 200k Unconfirmed Transactions and the price was actually rising at that time. So people didn't really care about that, so that is not the reason for the crash.

It's funny you mentioned steam. Did they offered an alternative? No... so they weren't' really serious about using crypto, and they removed it for some other reason. Unless they only believe in bitcoin, and they are waiting for the LN.

Also, thee fees would be much lower if coinbase and other exchanges just adopted segwit instead of doing inside trading with bcash, and batched their transactions. Do they do it? No... because they kind of enjoy lagging the network apparently.

EDIT: And yes, fees need to be lower, I will not argue with that, but that is not the reason for the crash, and the LN development news would actually fight that, if that was so important for the bitcoin price. BTC is in development, we all know that, so I don't think people would massive sell because of that. They got tired of waiting and decided to massive sell? I don't think so...
Also, they are getting alternatives?? How can you say that, if the hole crypto market is dumping. What alternatives are they buying into? xD

It's not FUD what is pushing bitcoin down.
It is damn high fees and people are looking for alternatives.

We all realize that all these are fud.
But inside that fud you can find some real news who you didn't share in your post for some reasons - steam and stripe. Do research and update post with more real news.

its what it is. You gotta take the losses along with the highs. i hope the market stops selling. Just HODL

I like to trade, so I do check the price regularly, and although I don't get emotional during my trades, I do get a little sad when I'm not trading and I have time to think about how the crypto markets react to fake news.

True facts:
Development
- Even though the lightning network is still in "beta", the number of LN nodes in the main net is increasing, and they have open channels running on them, with real transaction being made. (Check the number of nodes and channels in the Lightning Network in real time)
- Even if we disregard the LN (since it's still in beta), the fees are lower again, and the network is doing better (hopefully segwit will get more adoption, and exchanges like coinbase will batch their transactions, and BTC will be usable again, until LN is complete).
- Coinbase is finally making the implementation of segwit a development priority (Here)

Adoption
- Square Cash App now accepts BTC, so merchants that use it as a payment system will be able to accept BTC as payment.
- Robinhood will add BTC as well; Sberbank (on of the largest state banks in Russia) is planning on opening an exchange. So it will be easier to buy BTC
- Samsung is now making Cryptocurrency mining chips
- 50 Luxury Flats sold for Bitcoin In Dubai (Here)

Social
- A good article that gives us a glimpse on how our society could be after decentralization (Here) Thank you dado7 for sharing.

Regulation
- SEC and CFTC Hearing was positive (Here) and (Here)
- Arizona State passes a bill to allow it's citizens to pay their taxes with BTC (Here)
- Georgia follows Arizona lead (Here)
- Germany has said that they won’t tax Bitcoin users for consuming the cryptocurrency as a means of Payment (Here)

Posts with news from different areas
Check this post dado7, showing us some positive news from Venezuela from (Here)
Check this post u9y42 (Here). Bitcoin getting more private and having smart contracts? Yes please! And he also posts a cool link to check how LN nodes are evolving in the main net (very cool link). Finally, we seem to have a decentralized exchanges that will soon accept fiat. Amazing news! Thanks for sharing.

FUD:
- Tether scam (could be true, but look at tether marketcap, and look at BTC marketcap). How can anyone say that BTC price is up because tether printed tokens out of thin air to pump BTC price? It would not have a big impact...
- China cracking mining... (just rumors, and probably fake). If mining was at risk do you think Samsung would get involved in mining?
- South Korea ban... (fake news, as I hope you all know already. They will only regulate it, probably using something similar to NY’s BitLicense link here)
- India making BTC illegal... (more fake news, they just said they want to crack down illegal activities that use bitcoin and not BTC itself)
- Facebook banning adds (actually a positive thing in my opinion, because it might help decrease the number of uninformed investors that enter the market, that click on those adds looking for profit, and then get scammed. We want investors with strong knowledge about Bitcoin and crypto, because those will not follow FUD or FOMO)


Bitcoin is evolving, we have real and positive news, and we have some bad fake news, or news that simply aren't relevant.
What do the markets do? They crash...

Help me fight the FUD, and post links with some positive news that you think are important for bitcoin, and help me fight FUD, by exposing fake news.