Losing Faith in Bitcoin? | Bitcointalksearch.org

Wind_FURY

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Quote from: Amph on May 13, 2017, 01:55:33 AM

it's funny every time that bitcoin have a price correction, poeple suddenly think about a big crash and that bitcoin is died or other shit like that

It is either they are panicking and they want everyone else to panic with them or they are traders who think their posts can help move the market in a direction they want.

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i guess the more the value will big higher the more the fear will be to think bitcoin can go to zero and make you lose all your investment

this is the reason that makse them fear every minimal swings in the market, besides this i don't think the number of transactions being stuck have nothing to do with the value or we would sit below $1000 forever

The question we should be thinking about is why is Bitcoin this high despite the scalability issue. Something is off here.

GetClams.com

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Quote from: btcforall777 on May 14, 2017, 04:01:17 PM

There needs to be a new governance mechanism similar to dash. I agree that the currency system is self destructive.

I agree wholeheartedly. They will fight for a couple years about changeling that too. Makes you sort of wonder what the short term fate of BTC is.

btcforall777

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There needs to be a new governance mechanism similar to dash. I agree that the currency system is self destructive.

e-coinomist

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Money often costs too much.

Quote from: youngagethinker on May 14, 2017, 05:04:06 AM

I’m still new into this field but as I observe in the previous bitcoin’s price and its wayward changed of prices I think there is nothing to worry about. Even if bitcoin’s prices is down and up to almost 1000$, its natural because there are so many cryptocurrencies’ that want to take bitcoins place in the top not mentioning the cyberattacks that is happening every single second. Bitcoin is here can be 0$ in an instant, but as a side-line worker I think there is nothing to go serious about. Get a job in the real world and get your bones strait. Don’t just rely on cryptocurrencies.

Instant "zero" would require a major failure of the mathematics supplied and those have proven to be rock solid!
About the seriousness as in Bitcoin Maximalism I'm on par to you, dropped that myself long ago. Other crypto projects are so advanced in 2017 to exist independently on their own.

Wintersoldier

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Quote from: Sadlife on May 12, 2017, 09:56:56 PM

It's fine bitcoin has been volatile since like forever this could be a good chance for traders and investor to buy lots of it while it's still low.
Although there is no doubt that if ever an scaling solution is activated in bitcoin price will surely pump to newer highs like litecoin implementing segwit but the community still refuses it bcoz of some conpiracy theories that doesn't have any proof.

It is common for a currency to dump or to experience volatile specially on bitcoin because it is a crypto-currency where it follows the principle of law of price and demand. Where the sudden changes and development of bitcoin is being affected by the support of the community. And just imagine bitcoin having a price that will not change it means that there is not investment itself to bitcoin. People and traders choose to invest to bitcoin because its price always change and its transaction develops it means people wants development for earning and development.

naughty1

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Quote from: Victorycoin on May 14, 2017, 09:59:43 AM

Quote from: Nagadota on May 13, 2017, 10:43:22 AM

Price drops are caused by people taking money out of Bitcoin into fiat. Bitcoin is only inconvenient for small transactions - people who have held a significant amount of Bitcoin will find that it's actually not that hard to be spending >1 Bitcoin, and people who still find Bitcoin quite convenient will not be selling by your logic so it would not cause a very significant price drop.

Actually, you'll notice that when you go to that transaction page you mentioned, a surprising number of the transactions are upwards of 10 Bitcoin.

Profit taking is something to expect every time a market makes a new high and that makes the supply much more than the demand. Econs101 would then see to the price going down, though mostly within a defined range, from where it is likely to bounce back unless there is a great change in the fundamentals.

Your argument can only explain to the newbie in this forum. In fact, there are many factors that govern the value of a coin. In it, the popularity of bitcoin for the community is a very important factor that can influence the supply and demand of the market, which is why the bitcoin is soaring.

Victorycoin

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Quote from: Nagadota on May 13, 2017, 10:43:22 AM

Price drops are caused by people taking money out of Bitcoin into fiat. Bitcoin is only inconvenient for small transactions - people who have held a significant amount of Bitcoin will find that it's actually not that hard to be spending >1 Bitcoin, and people who still find Bitcoin quite convenient will not be selling by your logic so it would not cause a very significant price drop.

Actually, you'll notice that when you go to that transaction page you mentioned, a surprising number of the transactions are upwards of 10 Bitcoin.

Profit taking is something to expect every time a market makes a new high and that makes the supply much more than the demand. Econs101 would then see to the price going down, though mostly within a defined range, from where it is likely to bounce back unless there is a great change in the fundamentals.

youngagethinker

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I’m still new into this field but as I observe in the previous bitcoin’s price and its wayward changed of prices I think there is nothing to worry about. Even if bitcoin’s prices is down and up to almost 1000$, its natural because there are so many cryptocurrencies’ that want to take bitcoins place in the top not mentioning the cyberattacks that is happening every single second. Bitcoin is here can be 0$ in an instant, but as a side-line worker I think there is nothing to go serious about. Get a job in the real world and get your bones strait. Don’t just rely on cryptocurrencies.

deisik

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Quote from: Yuuto on May 14, 2017, 03:18:05 AM

Quote from: deisik on May 13, 2017, 02:42:32 PM

Sometimes you may have to make a step back to make a step ahead

Personally, I'd rather say that Bitcoin is neither evolving nor devolving, it is in fact stagnating. But since other currencies are moving ahead (at least, there is such an impression), it kinda looks like Bitcoin is devolving. Now to my point. Developers can actually do little toward acceptance of whatever they might be developing or improving. It is miners that have the final say. So if Bitcoin continues to stagnate, primarily due to miners' obstinacy and obsession with short-term profits, then Bitcoin may lose its appeal and, consequently, value as well as price, therefore, these obstinate and rogue miners will have to leave on their own (that's basically why there is no tomorrow for Bitcoin miners of today anyway). After that, Bitcoin may finally get a boost in its development no longer constrained by this generation of reactionary miners

i agree that bitcoin seems to be a little more stagnate then taking steps backwards at this point. im hoping things will start moving forward with bitcoin again soon. on that note... is there absolutely nothing we nonminers using the bitcoin network could do to help make the situation progress in a positive manner for miners bitcoin value and the entire bitcoin community? i think maybe seeing what could be done to appease everyone might end up speeding things along... also like almost everyone these days the miners seem to be thinking of short term solutions for long term problems... wish they would think outside the average thought box and start thinking about long term solution for short term problems or excessively long term solutions for long term problems.

To keep friendship with the whole world means to be indiscriminate in your connections

Let alone trying to appease everyone. That would be outright counterproductive and will get you even further from resolving the issue (whatever that might be). Regarding miners, more specifically, you can't solve a problem by relying on people creating it. There is no reason absolutely to think the current generation of miners are going to think "out of the box". Simply put, this is just not in their interests, so why should they if they are quite happy with what they have now? And the current attack is meant to do exactly that, i.e. to make the irreconcilable differences between the Core and the Limited even more irreconcilable. As simple as that

doomistake

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Quote from: Nagadota on May 13, 2017, 10:43:22 AM

Price drops are caused by people taking money out of Bitcoin into fiat. Bitcoin is only inconvenient for small transactions - people who have held a significant amount of Bitcoin will find that it's actually not that hard to be spending >1 Bitcoin, and people who still find Bitcoin quite convenient will not be selling by your logic so it would not cause a very significant price drop.

Actually, you'll notice that when you go to that transaction page you mentioned, a surprising number of the transactions are upwards of 10 Bitcoin.

The price drops because of this "RANSOMWARES" thingy, that is why bitcoin's price exploded right now, there are anonymous people who are using bitcoin in illegal ways, because they want to eliminate bitcoin or they wanted to do their bad things anonymously. And it is not true that bitcoin's price drop because "people taking money out of bitcoin" because there is nothing wrong with that, that is the right way where we could earn money through bitcoin.

It is normal that bitcoin's price is having a price drop because bitcoin's price is so volatile, it would PUMP and DUMP, and the best thing to do when it had a huge price drop is to buy some and wait for its price to go up again so you could have profits while waiting.

stompix

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Quote from: OROBTC on May 12, 2017, 09:41:18 PM

...

1. 182,000 unconfirmed transactions (highest I have ever seen in my casual monitoring at: https://blockchain.info/new-transactions)

2. BTC down over $100 in one day.

1. Unconfirmed dropped to 128,000 at this moment

2. BTC is back in the green

Civil war?
Have a trip to Syria to see what a civil war is.

What we have here is a never ending story of everybody thinking his coding is shorter than the other's.

DoublerHunter

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Quote from: ?? on ??

I wouldnt say people are losing faith in Bitcoin.
I think thats quote the opposite,faith is at an all time high.
Im expecting a small dump now.

There will be no dump for me because the price is getting stabled at the current price and even the price dump a little bit because of the ransomware incident bitcoin is still strong and well established. The price dump, i think will be after the price reaches 2000 USD because some people will get an at least x2 or even x3 of their investment so they will unload some of their bag of bitcoins.

hugs1BTC

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Quote from: OROBTC on May 12, 2017, 09:41:18 PM

...

Maybe the SW/BU Bitcoin Civil War is starting to have a negative effect.

1. 182,000 unconfirmed transactions (highest I have ever seen in my casual monitoring at: https://blockchain.info/new-transactions)

2. BTC down over $100 in one day.

I sure wish the Miner Wankers and the Developer Wankers would get together and SOLVE the scaling problem(s). Else they may damage the Bitcoin Ecosystem and discourage newbies from joining the community.

BTC to $5000 if/when they resolve all of this (credit to jonald_fyookball for that prediction, and I would agree with that number).

Never lost faith in Bitcoin. We can't, it's too important. Cryptocurrencies are the future of money and we are here as first witnesses. SW/BU is war must come to an end soon but I wouldn't say it affects the price too much.

eaLiTy

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Quote from: Netnox on May 13, 2017, 12:53:39 PM

The exchange rates doesn't matter much, as long as Bitcoin retains such a large userbase. You need to start worrying when the altcoins like Ether and Ripple attract a part of the Bitcoin users.

All these things are connected together,if the user base is large the price of bitcoin will be higher and so does the transaction delays with the current scaling issues the price would go up but they could not accommodate every transactions ,alt coins are attracting new investors and even they will suffer if the transaction per day is increased and we might see these issues in the future.Some of them have upgraded their protocol to segwit even though they did not need those upgrades.

Yuuto

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Quote from: deisik on May 13, 2017, 02:42:32 PM

Quote from: BitcoinPanther on May 13, 2017, 01:13:08 PM

Quote from: OROBTC on May 12, 2017, 09:41:18 PM

...

Maybe the SW/BU Bitcoin Civil War is starting to have a negative effect.

1. 182,000 unconfirmed transactions (highest I have ever seen in my casual monitoring at: https://blockchain.info/new-transactions)

2. BTC down over $100 in one day.

I sure wish the Miner Wankers and the Developer Wankers would get together and SOLVE the scaling problem(s). Else they may damage the Bitcoin Ecosystem and discourage newbies from joining the community.

BTC to $5000 if/when they resolve all of this (credit to jonald_fyookball for that prediction, and I would agree with that number).

Aside from these unconfirmed transactions, the once 130 sat/byte transaction that can give us an instant confirmation now needs to wait couples of hours before it gets its first confirmation. It seems bitcoin, instead of evolving is devolving. But even if bitcoin shows this sign, I never lose faith in Bitcoin and its core developer. I still believe this scaling issue will be solved as time pass by

Sometimes you may have to make a step back to make a step ahead

Personally, I'd rather say that Bitcoin is neither evolving nor devolving, it is in fact stagnating. But since other currencies are moving ahead (at least, there is such an impression), it kinda looks like Bitcoin is devolving. Now to my point. Developers can actually do little toward acceptance of whatever they might be developing or improving. It is miners that have the final say. So if Bitcoin continues to stagnate, primarily due to miners' obstinacy and obsession with short-term profits, then Bitcoin may lose its appeal and, consequently, value as well as price, therefore, these obstinate and rogue miners will have to leave on their own (that's basically why there is no tomorrow for Bitcoin miners of today anyway). After that, Bitcoin may finally get a boost in its development no longer constrained by this generation of reactionary miners

i agree that bitcoin seems to be a little more stagnate then taking steps backwards at this point. im hoping things will start moving forward with bitcoin again soon. on that note... is there absolutely nothing we nonminers using the bitcoin network could do to help make the situation progress in a positive manner for miners bitcoin value and the entire bitcoin community? i think maybe seeing what could be done to appease everyone might end up speeding things along... also like almost everyone these days the miners seem to be thinking of short term solutions for long term problems... wish they would think outside the average thought box and start thinking about long term solution for short term problems or excessively long term solutions for long term problems.

iamTom123

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Personally, I am not losing faith in Bitcoin as soon a real solution to the current big challenge can be implemented. Miners could not continue forever ignoring the problem just because the problem is giving them incentives to earn more money. They can not afford to kill the white goose that lays the golden eggs. Ordinary guys like us can only hope that soon these people will decide based on what can be the good for all concerned and not just based on their short-term vested interests.

qiman

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Bitcoin is here to stay but with the arguing and bickering going on, it does certainly make others think of other platforms like Ardor and Ethereum. I think the marketcap of other Altcoins and platforms will start taking a huge share of the Bitcoin value if Bitcoiners and the Bitcoin Developers/Miners do not get their act together. I still have great confidence in Bitcoin but we don't want BTC to become a dead dinosaur with the scaling issue not sorted out in due time.

phr0stbyt3

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I agree with you the transaction is speed is really slow and even i experience a lot of problems for the transaction to be confirmed but unfortunately there's nothing i can really do about it. The best thing is send transactions at a lower fees as sending as sending with high fees also takes one hour. Best thing low fees and wait for 3 hours or sometimes even a day

deisik

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Quote from: BitcoinPanther on May 13, 2017, 01:13:08 PM

Quote from: OROBTC on May 12, 2017, 09:41:18 PM

...

Maybe the SW/BU Bitcoin Civil War is starting to have a negative effect.

1. 182,000 unconfirmed transactions (highest I have ever seen in my casual monitoring at: https://blockchain.info/new-transactions)

2. BTC down over $100 in one day.

I sure wish the Miner Wankers and the Developer Wankers would get together and SOLVE the scaling problem(s). Else they may damage the Bitcoin Ecosystem and discourage newbies from joining the community.

BTC to $5000 if/when they resolve all of this (credit to jonald_fyookball for that prediction, and I would agree with that number).

Aside from these unconfirmed transactions, the once 130 sat/byte transaction that can give us an instant confirmation now needs to wait couples of hours before it gets its first confirmation. It seems bitcoin, instead of evolving is devolving. But even if bitcoin shows this sign, I never lose faith in Bitcoin and its core developer. I still believe this scaling issue will be solved as time pass by

Sometimes you may have to make a step back to make a step ahead

Personally, I'd rather say that Bitcoin is neither evolving nor devolving, it is in fact stagnating. But since other currencies are moving ahead (at least, there is such an impression), it kinda looks like Bitcoin is devolving. Now to my point. Developers can actually do little toward acceptance of whatever they might be developing or improving. It is miners that have the final say. So if Bitcoin continues to stagnate, primarily due to miners' obstinacy and obsession with short-term profits, then Bitcoin may lose its appeal and, consequently, value as well as price, therefore, these obstinate and rogue miners will have to leave on their own (that's basically why there is no tomorrow for Bitcoin miners of today anyway). After that, Bitcoin may finally get a boost in its development no longer constrained by this generation of reactionary miners

BitcoinPanther

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Quote from: OROBTC on May 12, 2017, 09:41:18 PM

...

Maybe the SW/BU Bitcoin Civil War is starting to have a negative effect.

1. 182,000 unconfirmed transactions (highest I have ever seen in my casual monitoring at: https://blockchain.info/new-transactions)

2. BTC down over $100 in one day.

I sure wish the Miner Wankers and the Developer Wankers would get together and SOLVE the scaling problem(s). Else they may damage the Bitcoin Ecosystem and discourage newbies from joining the community.

BTC to $5000 if/when they resolve all of this (credit to jonald_fyookball for that prediction, and I would agree with that number).

Aside from these unconfirmed transactions, the once 130 sat/byte transaction that can give us an instant confirmation now needs to wait couples of hours before it gets its first confirmation. It seems bitcoin, instead of evolving is devolving. But even if bitcoin shows this sign, I never lose faith in Bitcoin and its core developer. I still believe this scaling issue will be solved as time pass by.

Topic: Losing Faith in Bitcoin? (Read 3438 times)