Price dump from a Bitcoin folk? | Bitcointalksearch.org

Bitcoin Guy

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Quote from: richardsNY on August 01, 2017, 02:20:31 PM

Quote from: Bitcoin Guy on August 01, 2017, 10:32:59 AM

It seems like, at least for right now, the prices of BTC and BCC combined are higher than the price of the BTC before the fork. It would be good if all exchanges are supporting BCC so that Bitcoin holders can benefit from the fork.

Higher than before the fork? You can't seriously look at Bitcoin from that point of view. Bitcoin at current levels is just 10% shy of its previous all time high. Add that this period has been pointed at as being quite volatile due to the given circumstances. Give it some time, and Bitcoin will blast through the $3000 level this month, no doubt about it. Regarding BCC, most exchanges and services will end up listing this altcoin. But the thing is that Bitcoiners will only end up taking advantage of this fork just once. Some people will look to liquidate BCC at the very start, where others prefer to wait for BCC to recover in price.

When I said "before the fork", I did not mean the peak price, I was referring to the price like last night or something.

I am reposting this from a thread which I just started to try to answer some of the questions people raised in this thread (notice that this is just from an average Joe's opinion):

It looks like BCH is here to stay. For now, it seems that the combined value of both BTC and BCH is, consistently, around $3000. When BTC goes up by $50, BCH goes down by $50 and vice versa. Not sure how long this relationship will last. I do not mind for my exchange to sell off BCH now in exchange for more BTCs.

They said that Bitmain and Roger Ver were going to sell off their bitcoins and put the money into BCH after the fork and they are probably doing it right now. That is why the price of BCH is sustaining at this moment. Once they run out of the capital from selling bitcoins, the price of BCH will probably drop.

pisston

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Quote from: BitHodler on August 01, 2017, 03:10:41 PM

Quote from: holtzmann on August 01, 2017, 06:56:21 AM

It’s no wonder that Bitcoin price is unstable during the time of a probable hard fork. Although I thought that the exchange rate would go down even more dramatically than it is now. I currently have Bitcoins on my wallet and don’t plan to withdraw them. This is not the first and certainly not the last time Bitcoin comes with hurdles. I’m sure it will stand.

If you read back how people were panicking over the 1st of August, they all were expecting the price to start tanking big time ~ it shows that people greatly exaggerate the situation, as always.

On the other hand, panic selling allows people to enter the market at lower levels, so from there we shouldn't be complaining about the volatility that we have been experiencing lately.

Fact is that people worrying about the price don't know what they are doing, and don't understand that in the long term due to the demand, the price will only increase. This market counts too many short term noobs.

After those bad predictions that said that on August 1 there will be total lawlessness, I no longer believe anything, because to date, bitcoins, if even dropped, it is very small percentage. Only 1 or 2% of the fall. This is very small And today it is starting to rise again.

BitHodler

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Quote from: holtzmann on August 01, 2017, 06:56:21 AM

It’s no wonder that Bitcoin price is unstable during the time of a probable hard fork. Although I thought that the exchange rate would go down even more dramatically than it is now. I currently have Bitcoins on my wallet and don’t plan to withdraw them. This is not the first and certainly not the last time Bitcoin comes with hurdles. I’m sure it will stand.

If you read back how people were panicking over the 1st of August, they all were expecting the price to start tanking big time ~ it shows that people greatly exaggerate the situation, as always.

On the other hand, panic selling allows people to enter the market at lower levels, so from there we shouldn't be complaining about the volatility that we have been experiencing lately.

Fact is that people worrying about the price don't know what they are doing, and don't understand that in the long term due to the demand, the price will only increase. This market counts too many short term noobs.

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Quote from: Bitcoin Guy on August 01, 2017, 10:32:59 AM

It seems like, at least for right now, the prices of BTC and BCC combined are higher than the price of the BTC before the fork. It would be good if all exchanges are supporting BCC so that Bitcoin holders can benefit from the fork.

Now bitcoin value is taking up this charge and value beginning to move up and moving towards 3000$. I don't think next 6 months we won't find any dump in the price chart. You can invest now and buy it as much you can to see the profit in future.

PancherBitCoin

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Quote from: richardsNY on August 01, 2017, 02:20:31 PM

Quote from: Bitcoin Guy on August 01, 2017, 10:32:59 AM

It seems like, at least for right now, the prices of BTC and BCC combined are higher than the price of the BTC before the fork. It would be good if all exchanges are supporting BCC so that Bitcoin holders can benefit from the fork.

Higher than before the fork? You can't seriously look at Bitcoin from that point of view. Bitcoin at current levels is just 10% shy of its previous all time high. Add that this period has been pointed at as being quite volatile due to the given circumstances. Give it some time, and Bitcoin will blast through the $3000 level this month, no doubt about it. Regarding BCC, most exchanges and services will end up listing this altcoin. But the thing is that Bitcoiners will only end up taking advantage of this fork just once. Some people will look to liquidate BCC at the very start, where others prefer to wait for BCC to recover in price.

The fact is that you can evaluate the events differently, Because there is that 16 hours ago the price of Bitcoin was 2800 dollars, and already now we are seeing at 150 dollars lower. To explain the current trends is still difficult. It remains for us to observe and abstain from carrying out any transactions for the time being.

richardsNY

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Quote from: Bitcoin Guy on August 01, 2017, 10:32:59 AM

It seems like, at least for right now, the prices of BTC and BCC combined are higher than the price of the BTC before the fork. It would be good if all exchanges are supporting BCC so that Bitcoin holders can benefit from the fork.

Higher than before the fork? You can't seriously look at Bitcoin from that point of view. Bitcoin at current levels is just 10% shy of its previous all time high. Add that this period has been pointed at as being quite volatile due to the given circumstances. Give it some time, and Bitcoin will blast through the $3000 level this month, no doubt about it. Regarding BCC, most exchanges and services will end up listing this altcoin. But the thing is that Bitcoiners will only end up taking advantage of this fork just once. Some people will look to liquidate BCC at the very start, where others prefer to wait for BCC to recover in price.

Bitcoin Guy

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It seems like, at least for right now, the prices of BTC and BCC combined are higher than the price of the BTC before the fork. It would be good if all exchanges are supporting BCC so that Bitcoin holders can benefit from the fork.

holtzmann

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It’s no wonder that Bitcoin price is unstable during the time of a probable hard fork. Although I thought that the exchange rate would go down even more dramatically than it is now. I currently have Bitcoins on my wallet and don’t plan to withdraw them. This is not the first and certainly not the last time Bitcoin comes with hurdles. I’m sure it will stand.

Bitcoin Guy

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BIP91 LOCK-IN PERIOD:
44 blocks before current lock-in period ends. Still 29 blocks needed for a lock-in.
There are 82.2% BIP91 blocks mined in the current period.

https://www.xbt.eu/

As the lock-in becomes more premising, the higher the price moves.

Adbitco

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Quote from: davis196 on July 09, 2017, 01:05:33 AM

Quote from: skorupi17 on July 09, 2017, 12:19:08 AM

It is FORK not FOLK.

I also believe that the uncertainties about the upcoming activation of segwit is the main reason why we are experiencing a very bumpy road. And the price had become surprisingly stable in these past days.

The fork issue is not yet final. There is no formal announcement that there will be a hard fork at about 3 months after the activation of Segwit so nothing is to worry about, for now. However, if ever there will be a split on Bitcoin's chain, I am not sure about how can people cope with that event. It might be catastrophic.

It won`t be catastrophic,don`t scare the newbies OP. Grin

Do you remember Bitcoin Unlimited?What happened to BU?
Bitcoin will survive the fork and will grow stronger.The only problem will be when all the newbies (like the OP asking the questions in the thread)panic and leave bitcoin for some altcoin like ethereum.

I agree fork or no fork bitcoin will get only stronger. Bitcoin has already survived such crisis in the past and every crisis makes bitcoin much more stronger and I hope it's not going to be different this time too. Just don't panic, don't create fud and you will be much happier than ever

Drnice

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Quote from: Bitcoin Guy on July 08, 2017, 03:36:16 PM

And the most important question is - would Bitcoin price drop in the short run or even in the long run due to the folk?

What do you think?

The price of Bitcoin is sure that it will drop, before August first, and some days, weeks or maybe months before we start looking at the increase in the price of Bitcoin.
But the drop in price of Bitcoin will not be in too much long run.

Bitcoin Guy

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No fork, no dump! Grin

Hope it keeps that way.

BIP91 will likely to be locked-in and Segwit2X will be implemented. It seems like when Segwit2X gets implemented on Nov 1st, there will most likely be a fork as having 100% of support is almost impossible. There will be two Bitcoins. The consequence will probably cause some price drop in the beginning. Just hope that nothing major bad will happen.

https://steemit-production-imageproxy-thumbnail.s3.amazonaws.com/DQmZvUAW7a9x9ReMRqk3BXJ9srfnGqw4sX3mdGFc6BNq9mB_1680x8400?AWSAccessKeyId=ASIAJQPKPNL7XWRR2LXA&Expires=1500423765&Signature=EzvWbXfDMScqZ9i1FUFvxxLxXLA%3D&x-amz-security-token=FQoDYXdzEGYaDGHSVZLu2MnsDR0aCiK3A016cQBk5Yc4jOHz35F2PhE4noZSFP7%2BBcq5Rxx7m9SV5vc%2BLLML9Fi%2BEOrzXamS5aV2br%2F483cjWvycbIcmzT76qS3QMbGYmZo3kPSqWjs8wlnVrh4CNtuIPSJWAmwkJcrLYsM4ob1SP30cq3Bl%2B8VoqKPUDQ%2F6uH%2BPkZiJM9vwn9%2B4fqULJoJ2i4MQbOwJ0kQLYpRaTlzpIWdZ4l19cJxgzGbUepBBDwzh46Oe8%2B7PIY1mJj2B%2FhFeP9bweBgCG%2FM980Ckc7i%2BKzIzITL%2Fyu%2BrIi%2BaCnngq%2Fml9K%2FKeKbRrKM%2BTcmDNmSic2IWl7fmiWnrgO5lj%2FxkM0%2FYtr7rV1nCN%2FjOFX57X0US22nqBIjbGw3ncHx%2BWfM9TV9wAuWSilxGz6NJPl5eoSO9i6GlD4EXCj8urWYJlwWRFpfx4fZTS0cCZfS6Eo1uGSUb0bjWC5gxOe94p7g6poVFs1WRp2UFhtWLhquCwuEV2SBsq%2B9aNAx1753aR3iUoDBgxYp1jmELA57YcJU93JAOn6BbBlO62od%2BC4qQBFP3fm4FB7VZFp86izqM4JrSOl3wIfybWZrryyHviSAon%2FK5ywU%3D

Bitcoin Guy

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Knowing that the value my investment will probably continue to fall till the current suggested scaling solution is agreed up on and that the issue is fixed, I am still HODLING! I could pull them all out and wait for a good time to go back, but with the buy and sell limit restriction and tax consideration, it may not be a good option. I already got screwed from buying because of the weekly cap and do not want to get screwed again.

I think many investors do not know how to save their coins into a cold wallet and do not want to take the time to learn how and the chance to do it. As a solution for the problem, they just cashed out from cryptos for now. Money will come in and pumps up the price again when everything is settled - eventually. Just my humble opinion.

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Quote from: bohr on July 14, 2017, 09:57:26 PM

In the case of a fork I think we are going to see an immediate reduction in price not only in bitcoin but in all altcoins since I think many will lose faith in the cryptocurrency market, so if a fork happen we will probably have a bear market for quite some time

This is not necessarily so

At least, this may not hold true in the long run. In the early stages, all altcoins (apart from minor ones which may get caught pumped by their developers at the moment) are likely to follow Bitcoin's lead on its way down. But the point is their markets are a lot smaller than that of Bitcoin, so it will take only a fraction of fiat running away from Bitcoin to seriously pump even major altcoins (personally, I expect Litecoin to get pumped as it starts to receive cash from Bitcoin). Further, while most if not all altcoins will go down along with Bitcoin crashing, some of them are going to rise in Bitcoin terms specifically, and this is what already happens to Litecoin. Somehow I hoped that it would at first go down stronger than Bitcoin so I could convert more bitcoins to it, but that didn't happen (at least, not yet)

bohr

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In the case of a fork I think we are going to see an immediate reduction in price not only in bitcoin but in all altcoins since I think many will lose faith in the cryptocurrency market, so if a fork happen we will probably have a bear market for quite some time.

Bitcoin Guy

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Quote from: deisik on July 14, 2017, 04:50:32 AM

Back in the day, there were rumors of Charlie Chaplin attending a Charlie Chaplin lookalike contest where he had allegedly won the third prize

That is so interesting and funny. I think the rumors might be true because the act reflected his personal and the acting role. However, it was not fair to the second place person though.

deisik

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Quote from: Bitcoin Guy on July 13, 2017, 06:30:25 PM

Quote from: deisik on July 13, 2017, 10:14:14 AM

There are no such controversies in Litecoin

Maybe, because Litecoin's creator, Charley Lee, is still active in the community and remains the guiding force behind Litecoin's development? As far as I remember, persons like Jihan Wu (which also happens to mine Litecoin along with Bitcoin) tried to oppose the activation of SegWit in Litecoin as well. But they are obviously not as powerful with this coin as with Bitcoin, so they couldn't do anything but accept the changes and bite the bullet (or go home if they chose to disagree). It would be interesting to see Satoshi Nakamoto show up and state his position

I think you may be correct that the fact Charley Lee is still active may be the key factor for the smooth transaction of the Litecoin development.

A fake Satoshi Nakamoto did show up and try to influence something. I did not pay attention on what that something is though

It kinda looks we are going to see a lot more wannabe Satoshi Nakamotos

Particularly if Bitcoin hits astronomical figures in the future. And if a real one decides to show up eventually, he may have problems proving he is the real Satoshi Nakamoto. Even if he signs transactions with the key from his 1M stash of bitcoins, people will still question if he didn't steal the keys. Back in the day, there were rumors of Charlie Chaplin attending a Charlie Chaplin lookalike contest where he had allegedly won the third prize

killerfrost

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Quote from: skorupi17 on July 09, 2017, 12:19:08 AM

It is FORK not FOLK.

I also believe that the uncertainties about the upcoming activation of segwit is the main reason why we are experiencing a very bumpy road. And the price had become surprisingly stable in these past days.

The fork issue is not yet final. There is no formal announcement that there will be a hard fork at about 3 months after the activation of Segwit so nothing is to worry about, for now. However, if ever there will be a split on Bitcoin's chain, I am not sure about how can people cope with that event. It might be catastrophic.

The total value of Bitcoin is 16.1$. The total number of bitcoins available worldwide is 23 million bits. Auctions for a bitcoin nation are not easy depending on the economy of a people. China, India people are buying bitcoin to protect their savings. Australia auctions 11.5$.

Bitcoin Guy

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Quote from: deisik on July 13, 2017, 10:14:14 AM

There are no such controversies in Litecoin

Maybe, because Litecoin's creator, Charley Lee, is still active in the community and remains the guiding force behind Litecoin's development? As far as I remember, persons like Jihan Wu (which also happens to mine Litecoin along with Bitcoin) tried to oppose the activation of SegWit in Litecoin as well. But they are obviously not as powerful with this coin as with Bitcoin, so they couldn't do anything but accept the changes and bite the bullet (or go home if they chose to disagree). It would be interesting to see Satoshi Nakamoto show up and state his position

I think you may be correct that the fact Charley Lee is still active may be the key factor for the smooth transaction of the Litecoin development.

A fake Satoshi Nakamoto did show up and try to influence something. I did not pay attention on what that something is though.

Quote from: Esphere.in on July 13, 2017, 04:08:20 PM

I am not sure these kind of situations happened before in bitcoin ,when the amount of users were really low anything was possible but now the user base has increased and it is really difficult to predict exactly what will happen to bitcoin after August,i am still hoping that there wont be a big crash ,the only thing i can do is to wait and watch.

Seeing Bitcoin price has been holding for these past several weeks bring some comfort. Given that, I think it will take some bad news for the price to crash. So as long as there is no bad news before August 1st and that segwit is successful, I think the price will go up.

Esphere.in

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Quote from: cramcram21 on July 13, 2017, 11:32:09 AM

I don't really know if its a good thing or a bad to do the segwit and bitcoin fork.
Maybe the price could drop but I think it won't stay low for so long so let's just see what would happens next after it.

I am not sure these kind of situations happened before in bitcoin ,when the amount of users were really low anything was possible but now the user base has increased and it is really difficult to predict exactly what will happen to bitcoin after August,i am still hoping that there wont be a big crash ,the only thing i can do is to wait and watch.

Topic: Price dump from a Bitcoin folk? (Read 3412 times)