Topic: The rally is over - page 2. (Read 3841 times)
ya know, I'm not really concerned about any loss of confidence among people who don't understand bitcoin. It only take a few who do understand that bitcoin is not "broken" to buy the price back up.
...the community fell back to 0.7 chain immediately, this showed they can act professionally in a crisis and maybe that is why the price is stablizing now
Correct.
I'm obviously one who see's this as positive news, not negative. Something bad may have happened, but bad things happen all the time and there is nothing we can do about it. No realistic amount of testing would have caught this weakness. It's how the community handled this situation that proves how strong it is. Barely any press on it, and the exchange rate continues right where it left off.
However, we do seriously need to focus on the max block size issue now and ensure we create a flexible, scaleable, and balanced system. If we can get past this issue, then we're over the hump.
If not, then yeah. The rally is over.
A test case with a maximum size blocks made up of minimum size transactions would have caught this. We certainly need a test case like that going forward, especially if we are going to raise the block size limit.
...the community fell back to 0.7 chain immediately, this showed they can act professionally in a crisis and maybe that is why the price is stablizing now
Correct.
I'm obviously one who see's this as positive news, not negative. Something bad may have happened, but bad things happen all the time and there is nothing we can do about it. No realistic amount of testing would have caught this weakness. It's how the community handled this situation that proves how strong it is. Barely any press on it, and the exchange rate continues right where it left off.
However, we do seriously need to focus on the max block size issue now and ensure we create a flexible, scaleable, and balanced system. If we can get past this issue, then we're over the hump.
If not, then yeah. The rally is over.
Wow, the market is so bullish and it just ignored any negative news for now, but we have seen an example that how a hard fork will quickly destroy people's confidence in bitcoin
Imagine that core devs insisted to let 60% of miners /mtgox /merchants running on 0.8 and urge the rest of miners upgrade, then the hard fork would happen for real, and all the transactions happened on 0.7 chain will become a huge topic to debate for the coming months and the price of bitcoin will at least cut by half, and maybe never recover, since by then both chains would claim they are the genuine bitcoin
Anyway, the community fell back to 0.7 chain immediately, this showed they can act professionally in a crisis and maybe that is why the price is stablizing now
Imagine that core devs insisted to let 60% of miners /mtgox /merchants running on 0.8 and urge the rest of miners upgrade, then the hard fork would happen for real, and all the transactions happened on 0.7 chain will become a huge topic to debate for the coming months and the price of bitcoin will at least cut by half, and maybe never recover, since by then both chains would claim they are the genuine bitcoin
Anyway, the community fell back to 0.7 chain immediately, this showed they can act professionally in a crisis and maybe that is why the price is stablizing now
Bold statements show only ignorance. I mean if I say "Bitcoin will break $50 today!" does that counteract the OP's prediction and cause the price to become $40?
Well, I just tossed a coin and it looks like the OP was right. I stand corrected.
Well, I just tossed a coin and it looks like the OP was right. I stand corrected.
Gentleman start your engines, blockchain 0.7 is now main and mt gox will soon be open....sure all the hardcore Bitcoin users will know bitcoin has been given a test and passed... as such we will be buying back in....
But i think there will be quite a few more causal traders and who will waking up to stories of "Bitcoin is broken"...
I have to admit when I saw that big red "Critical: Current Bitcoin network fork" message at the top of the forum and messages on all the exchanges/blockchaininfo about client bugs etc...I had to change my underpants.
But i think there will be quite a few more causal traders and who will waking up to stories of "Bitcoin is broken"...
I have to admit when I saw that big red "Critical: Current Bitcoin network fork" message at the top of the forum and messages on all the exchanges/blockchaininfo about client bugs etc...I had to change my underpants.
If anything, the price will go up.
This has been incredibly well handled.
Anyone remember the equities bot glitch that caused the Dow to plummet $1000 in one session?
Shit happens all the time everywhere. We're only human. It's how you react to problems that show how stable you are, not how few problems you have to begin with. It only took one iceberg to sink the unsinkable Titanic. Bitcoin is only going to be stronger and more prepared moving forward after this dust settles.
This whole thing has been very positive in my view.
This has been incredibly well handled.
Anyone remember the equities bot glitch that caused the Dow to plummet $1000 in one session?
Shit happens all the time everywhere. We're only human. It's how you react to problems that show how stable you are, not how few problems you have to begin with. It only took one iceberg to sink the unsinkable Titanic. Bitcoin is only going to be stronger and more prepared moving forward after this dust settles.
This whole thing has been very positive in my view.
Ture, the response of the community is very fast and efficient, and this is largely due to the majority of pools can be coordinated quickly.
But there are still several questions to be asked, I'm going to sleep now, take them tomorrow
If anything, the price will go up.
This has been incredibly well handled.
Anyone remember the equities bot glitch that caused the Dow to plummet $1000 in one session?
Shit happens all the time everywhere. We're only human. It's how you react to problems that show how stable you are, not how few problems you have to begin with. It only took one iceberg to sink the unsinkable Titanic. Bitcoin is only going to be stronger and more prepared moving forward after this dust settles.
This whole thing has been very positive in my view.
This has been incredibly well handled.
Anyone remember the equities bot glitch that caused the Dow to plummet $1000 in one session?
Shit happens all the time everywhere. We're only human. It's how you react to problems that show how stable you are, not how few problems you have to begin with. It only took one iceberg to sink the unsinkable Titanic. Bitcoin is only going to be stronger and more prepared moving forward after this dust settles.
This whole thing has been very positive in my view.
We'll see 30 or lower very soon 
Don't mistake me, I regard this fork accident a very positive feeback to the community, now everyone will take this chance to see lot's of interesting aspect in bitcoin world, which are not that clear or almost hidden before
Don't mistake me, I regard this fork accident a very positive feeback to the community, now everyone will take this chance to see lot's of interesting aspect in bitcoin world, which are not that clear or almost hidden before
Just another "expert's forecast" from expert who hopes to make prices lower
Once Mt. Gox opens BTC deposits then the fun will start, big money to be made and lost IMHO. I'd imagine a MASSIVE sell off followed by a big buy back...hoping I can buy back in at $5 
Get ready
Get ready
We'll see 30 or lower very soon
Don't mistake me, I regard this fork accident a very positive feeback to the community, now everyone will take this chance to see lot's of interesting aspect in bitcoin world, which are not that clear or almost hidden before
Don't mistake me, I regard this fork accident a very positive feeback to the community, now everyone will take this chance to see lot's of interesting aspect in bitcoin world, which are not that clear or almost hidden before
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