Topic: Nights Watch by Afrikoin - page 99. (Read 303310 times)

Afrikoin,

few minutes ago, the well respected Vinny Lingham, said on his Twitter account that he short off his BTC position due to Hard-Fock coming. He even noted that things will end so badly for BTC that the -ceiling of it's price will be 800$ the maximum. Do you think the same? Should we short now before we hit below $800? He also re-think of his previous tweets and said that we might have to give a bye-bye kiss to the 3K prediction by end of 2017.

No, not really.

The problem is multi-faceted.

1. Scaling must happen soon to allow more transactions than the current 3 or 4 per second. The "mempool" (backlog of transactions to process on the blockchain) is frequently ballooning in size, causing increasing delays (anything up to a couple of days has been reported) and increasing transaction fees, at rates no-one thinks is safe.

2. Until recently it was more or less taken for granted among many that the Bitcoin Core team proposal to solve scaling, known as "Segwit", would be adopted willingly by miners and therefore activate. A threshold of 95% of mining power has to adopt Segwit for it to activate. This threshold now appears to have been hopelessly ambitious; Segwit adoption among miners has plateaued at around 25% for several months now.

3. There is another proposal on the table - "Bitcoin Unlimited". Taking a very different approach - some say the original intention of Satoshi - to the problem (not going to try to brief on the technicalities here), Bitcoin Unlimited appears to fast be gaining traction. As of recently Unlimited adoption has overtaken Segwit at speed. Check here: https://coin.dance/blocks

4. If Bitcoin Unlimited really gains enough traction for miners to be confident enough to begin using the scaling features it provides, there is a distinct possibility that this may split the Bitcoin chain, something that has been unthinkable until now. At any rate, there are a lot of claims that the software and the effects of its scaling features on the network have not been tested enough.

When will the scaling happen? Do we have a firm time frame?

@Shannen Just compare it to the situation from the 7th august.2016. At that time the scaling debate was under full force and many expected a hard fork zu happen, the uncertainity+fear+fud lead to a low price. Even though nothing happened after that, Bitcoin started its bull trend.

http://i.imgur.com/56PHuIE.png

So far, Afrikoin was 100% accurate, the thing I don't understand is, hows possible to scale down to $900 and then head back to 3K within few months?

^^^^ Agreed, scaling will probably kick BTC back down to Afrikoins $900.

To all those who are sure an intermediate drop or even a reversal is not possible: please explain how scaling will be resolved smoothly? Seems to me the best-case scenarios for this chronic problem are thin on the ground.

The TA in this thread seems to go quite nicely with the rate at which the percentage of Bitcoin Unlimited blocks are increasing.

wonder wether they got back in 8-)

tip of your life:

this situation at ath level happened before last bubble (speaking about big doji; huge shadow that was swallowed by smart money, and not indicating any price reversal)

in market a few wins, now we are in this situation, where most actor exited market (even GABI, that will have to re enter, with a price impact + come on guys, everyone speaking on how they'll sell bad etf news, since when everyone is the smart money?).

very important events, that will trigger etf positive decision are due soon (LedgerX (please have a look at the team, ex CFTC chairman only that, don't forget that CFTC is behind the approval not SEC, CME future)

don't get caught by MSM bullshit.

The future is bright.

bitcoin trying to stay above gold

Market Update: New ATH and COIN ETF Denial

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

First, no one can be right all the time.

Second, even though bearish, Afrikoin has had pretty good analysis's.

Third, this isn't over yet and we can easily swing down.

Price recovered better than a lot expected, many took out shorts, we had a bump in price now its further being fueled by short closing, that will dry up soon.

Thats not my chart btw

It's by bcnoob from reddit

Indeed, i wanted to open a debate with one of the rare adding value in here, people used my argument to attack directly the OP...

Not sure where all the condescending hostility towards Afrikoin is coming from.  He is simply posting what TA says, these things take weeks or months to play out, a little bump here or there does not invalidate it.

lol.

go suck a dick friend

Bull run?

What bull run?

This rise will go up to $1298 max, then back down to $900 first.

i said it here before the price broek up past $1170

pesa_africa comment on this picture is me



and the a - b -c below in purple chart from 3 days ago the current rise is B and it is a fool's bull run

So Afrikoin you still insist on arround $600 despite the recent bull run. Hmmm lets hope so so we cover some losses!