The truth about the 20k bitcoin last year - page 2.

Slow death

legendary

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Quote from: fuckcrypto on January 03, 2019, 10:45:26 AM

majority of people bought BTC than traded it for ETH and than investing in eth ICOs

this probably contributed a lot to the price increase we saw at the end of 2017

Quote from: fuckcrypto on January 03, 2019, 10:45:26 AM

BTC fanboys- your coin is garbage and noone can use it for anything- the only reason it had any usage was in the beginning when people used it to buy drugs on the darknet but other than that- screw bitcoin

Quote from: fuckcrypto on January 03, 2019, 10:45:26 AM

and even lightning cant save this crap

So you think the $ 4000 price per bitcoin is too little? do you think bitcoin should only continue to increase from price to infinity?

btc78

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Eloncoin.org - Mars, here we come!

Well if bitcoin is really a garbage.for sure you will never spend your precious time just to create FUD arent you?Stop being stupid mate because ethereum is just another shitcoin that has no future value.cant you see how did the ripple overtook the second position for 3 consecutive times last year.?hope thats enough reason for you to stop this nonsense lol

cellard

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Quote from: figmentofmyass on January 07, 2019, 10:43:58 PM

Quote from: cellard on January 07, 2019, 10:12:11 PM

Please point me to an altcoin that isn't PoW that is more secure than Bitcoin, or point me to a non-PoW altcoin that is more secure than Bitcoin and I will dump Bitcoin and buy that altcoin.

unfortuantely, the security of different consensus algorithms can't be compared in a concrete way. with POW, we can estimate the current hash rate and determine the cost of a majority miner attack based on hardware and electricity costs. with POS, the cost of attack is a lot more hazy. we don't know which entities control how much stake or who they might be colluding with, and on top of it, we'd have to do a lot of guesswork re: exchange and OTC liquidity. the big problem in POS is collusion and it's really hard to place a number on the risk that collusion-based majority staker attacks will occur.

the other problem regards tradeoffs that users/investors are willing to make. if POS could offer much cheaper---albeit less secure---transactions (because the effective cost of publishing transactions approaches zero), couldn't that make it worthy to some people, particularly those looking for a medium of exchange? could it be worth it for some people from an environmental perspective, assuming a POS system provided some level of security?

Well, that is even worse. The cost of 51%ing a network should be in the clear at all times, just like everything else on Bitcoin is in the clear and open sourced, the status of the security of the network is just another part that must be transparent.

With PoS as you said, we have no idea if there's a cartel secretly pulling all the strings, and given the fucked up distribution of coins in most coins, I wouldn't doubt that. When ETH goes PoS we'll see what happens, because the ICO was like 80% held by devs or something crazy like that.

Also as far as I know the nothing-at-stake problem was never solved and we have previous disasters of PoS like NXT.

As far as PoW alts we have 51%'s everyday. Just today ETC got 51%'d apparently. PoW outside of the strongest network (Bitcoin) is just pointless.

Supercrypt

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From someone who starts the post with "bitcoin is worthless and its garbage" with an username like "fuckcrypto", I am inclined to think this post was made by someone who lost a lot of money in crypto. Either because he bought at the peak and now in debt a lot or he bought early and sold quite early too. I think the first one makes more sense.

The truth about 20 thousand dollars was that too many people suddenly became interested in bitcoin. We increased from 3 thousand to 9+ thousand dollars quite quickly which got attention from all over online and people from everywhere started to buy into bitcoin and other altcoins, people who have been here for YEARS known some coins and even their founders whereas these new people reacted to big coins like dash/iota/ripple and so forth like they just found something super secret and could get them rich.

Hence, that hype eventually died and so did the price of bitcoin. That is the whole reason for that price and the bear following that.

Febo

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Quote from: fuckcrypto on January 03, 2019, 10:45:26 AM

Lets face it- BTC is total worthless- its garbage and you cant use it for anything

I dont know what hole you are living in. I am using Bitcoin to buy stuff for years. I dont buy coffee or pay bills with it, but I mainly buy bigger stuff like furniture or appliances, ...

If you have any "worthless" BTC please send it to me. I will turn it into some nice stuff. Will send you a picture after i buy them.

bintangkejoraku

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Quote from: b3j0 on January 08, 2019, 09:40:56 AM

Quote from: romero121 on January 07, 2019, 10:38:15 AM

Bitcoin growth is uncertain, and in similar way the growth of bitcoin happened reaching $20k in unexpected time period. Likewise the market experienced a big crash which happened when people were expecting the price pumping and reach out the $25k. As 2020 is gonna experience the halving, surely the price rise will happen gradually with accordance to the special events.

many people lose that precious momentum because they continue to hold the bitcoins they have and expect the price of bitcoin to rise higher. I am also part of them Roll Eyes

they are greedy people (I'm not saying you're included) who always hope and never feel enough, now the price of bitcoin has dropped by more than 70% since then. maybe only regret is left.

budiarmed

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You say it as a rubbish coin, that's because you are frustrated with the fall so you only think from a negative perspective. Bitcoin is not what you think, and there is too naive in interpreting it.

b3j0

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Quote from: romero121 on January 07, 2019, 10:38:15 AM

Bitcoin growth is uncertain, and in similar way the growth of bitcoin happened reaching $20k in unexpected time period. Likewise the market experienced a big crash which happened when people were expecting the price pumping and reach out the $25k. As 2020 is gonna experience the halving, surely the price rise will happen gradually with accordance to the special events.

many people lose that precious momentum because they continue to hold the bitcoins they have and expect the price of bitcoin to rise higher. I am also part of them Roll Eyes

St4yInTh3D4rk

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"STAY IN THE DARK"

Quote from: fuckcrypto on January 03, 2019, 10:45:26 AM

Lets face it- BTC is total worthless- its garbage and you cant use it for anything

Last years bullrun had nothing to do with BTC beeing innovativ or anything- the only reason BTC reached this price levels is because of bitconnect and Ethereum ICOs
for bitconnect and to take part in eth icos the easiest way was to buy bitcoin and than invest in bitconnect- buying bcc coins

same with ethereum ICOs- majority of people bought BTC than traded it for ETH and than investing in eth ICOs

so if btc wouldnt have been around it would have even been much better if someone was abe to invest directly in bitconnect or ethereum.

Mike Novogratz is a shill from the worst kind- same with this other BTC shill Tone Vays

Face it BTC fanboys- your coin is garbage and noone can use it for anything- the only reason it had any usage was in the beginning when people used it to buy drugs on the darknet but other than that- screw bitcoin

and even lightning cant save this crap

And on the next bullrun ethereum will outperform btc again- especially when people are than able to purchase eth directly with fiat.

now prove me wrong, lol

When people buying bitcoin for the purpose of converting into other coins then it won't affect the demand in any way then how the market will reach $20K.The reason behind the price increase was the bitcoin was over hyped by many sources which attracts lot of people with the intention of making money without knowing anything about it but finally they lost everything.

figmentofmyass

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Quote from: cellard on January 07, 2019, 10:12:11 PM

Please point me to an altcoin that isn't PoW that is more secure than Bitcoin, or point me to a non-PoW altcoin that is more secure than Bitcoin and I will dump Bitcoin and buy that altcoin.

unfortuantely, the security of different consensus algorithms can't be compared in a concrete way. with POW, we can estimate the current hash rate and determine the cost of a majority miner attack based on hardware and electricity costs. with POS, the cost of attack is a lot more hazy. we don't know which entities control how much stake or who they might be colluding with, and on top of it, we'd have to do a lot of guesswork re: exchange and OTC liquidity. the big problem in POS is collusion and it's really hard to place a number on the risk that collusion-based majority staker attacks will occur.

the other problem regards tradeoffs that users/investors are willing to make. if POS could offer much cheaper---albeit less secure---transactions (because the effective cost of publishing transactions approaches zero), couldn't that make it worthy to some people, particularly those looking for a medium of exchange? could it be worth it for some people from an environmental perspective, assuming a POS system provided some level of security?

cellard

legendary

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Threads like this are nice because when noobs get pissed out at Bitcoin it means we are near capitulation.

Of course they will never understand Bitcoin's censorship resistant, decentralized, unconfiscable nature is worth $trillions objectively speaking, but they still can't see beyond "using it" as in buying fucking coffee of all things with it.

The difference between a shitcoin and Bitcoin should be evident by now if you have been here for a while. All non PoW is a joke, and PoW networks are destined to be distributed in a Paretto law-like fashion, so there will always be a king and things don't look like it will be anything but Bitcoin.

Please point me to an altcoin that isn't PoW that is more secure than Bitcoin, or point me to a non-PoW altcoin that is more secure than Bitcoin and I will dump Bitcoin and buy that altcoin.

figmentofmyass

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Quote from: Kakmakr on January 07, 2019, 02:18:06 AM

The truth behind OPs post is this. He bought Ethereum and not Bitcoin and now he wants to bash Bitcoin down, in the hope that people would believe him that Ethereum is better and if he succeeds, then the price of Ethereum will go up and he will make more profits from his Ethereum investment.

little do they realize, their altcoin investments are utterly dependent on bitcoin's success. they don't really want bitcoin to fail---if it did, it would take the entire crypto economy down with it.

Quote from: WinslowIII on January 07, 2019, 04:50:48 PM

If anything ethereum is the garbage coin. Every one of it's icos was a scam in one way or another, not a single legit project came from an er20 token, and now all of these scam icos have been shut down in all major countries and for damn good reason.

binance was an ICO. it's now the biggest altcoin exchange in the world---a huge success story for investors.

i also think multiple years is a more realistic timeline to give before passing judgment on any given ICO. good companies and products don't usually get built overnight.

re ethereum, you've gotta admit it's provided some pretty awesome functionality. decentralized exchanges run on smart contracts, fundraising without intermediaries. its design leaves much to be desired, but i think it's far from a garbage coin. if sharding and POS work in a technical sense(big "if") it'll be a real game changer too.

hahay

legendary

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Quote from: Kakmakr on January 07, 2019, 02:18:06 AM

The truth behind OPs post is this. He bought Ethereum and not Bitcoin and now he wants to bash Bitcoin down, in the hope that people would believe him that Ethereum is better and if he succeeds, then the price of Ethereum will go up and he will make more profits from his Ethereum investment.

We have a lot of these Alt coin pumpers, doing the same thing with each of their shitcoins, so this is not something new. Grin

OP, I will suggest dumping those ETH coins and buying Bitcoin. Wink

Lol, so it's just a guile that can plunge people to get rid of their bitcoin and see the destruction of bitcoin, then buy ethereum so that the ether value will peak. But, guile like that can succeed also depends on someone's personality and each person must have a personality that seems difficult to be affected. After all, who issued the statement so that people believed it, even though it was said by famous people, I personally still wasn't sure that there were many people who were willing to throw away bitcoin that they had been hold so far.

WinslowIII

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If anything ethereum is the garbage coin. Every one of it's icos was a scam in one way or another, not a single legit project came from an er20 token, and now all of these scam icos have been shut down in all major countries and for damn good reason. Since there is nobody stupid enough to buy these scam icos anymore, wtf is eth use case? nothing that I can see, their only use case has been a scam factory. You want to talk about innability to scale?! fuck, eth barely functioned with heavy trxs.

omonuyak

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Quote from: romero121 on January 07, 2019, 10:38:15 AM

Bitcoin growth is uncertain, and in similar way the growth of bitcoin happened reaching $20k in unexpected time period. Likewise the market experienced a big crash which happened when people were expecting the price pumping and reach out the $25k. As 2020 is gonna experience the halving, surely the price rise will happen gradually with accordance to the special events.

We hope this your speculations come to pass and 2020 bitcoin is in healthy condition again. Remember that people said something good about bitcoin in 2017 and that is why we see the kind bull run we witnessed in 2017 and since some of us are saying positive things in 2019 and 2020 I think we are going to witness another bullish trend again.

Whosdaddy

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Quote from: romero121 on January 07, 2019, 10:38:15 AM

Bitcoin growth is uncertain, and in similar way the growth of bitcoin happened reaching $20k in unexpected time period. Likewise the market experienced a big crash which happened when people were expecting the price pumping and reach out the $25k.

Probably everything happened in last 14 to 15 months were mistimed but usual things of bitcoin ecosystem. Because, we had experienced similar things by the time frame of 2013 to 2015. The actual worth / fair value of bitcoin (by considering various price impacting factors like mining difficulty and % of merchants' revenue from bitcoin based tx) by the end of 2017 must be $10k but we went up to $20 just due to manipulation and that was the root cause of everything to become mistimed. Just remember the better sustaining price of last year was $6500 which was 35% down from fair value, which is very much reasonable one.

Quote from: romero121 on January 07, 2019, 10:38:15 AM

As 2020 is gonna experience the halving, surely the price rise will happen gradually with accordance to the special events.

Isn't it too early to jump into 2020 ? I just like to remind you that we are in very beginning of 2019 and almost 358 days are left with this year before we start concerning about 2020 Grin

.

romero121

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Bitcoin growth is uncertain, and in similar way the growth of bitcoin happened reaching $20k in unexpected time period. Likewise the market experienced a big crash which happened when people were expecting the price pumping and reach out the $25k. As 2020 is gonna experience the halving, surely the price rise will happen gradually with accordance to the special events.

imstillthebest

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Quote from: messito on January 05, 2019, 04:41:53 PM

Yes, I support your opinion of the author and also believe that Bitcoin is completely useless and did not meet the expectations placed on it at all

lol maybe you are an alt account of the op ? because you are only the one that supports this thread while most of us disagree . bitcoin actually meet the expectations of most users but some are just too greedy and not contented on what bitcoin has to offer .

the truth on why btc sky rocket to 20k usd is becuase many people have invested on it . there were also new comers that joined the party , so its no surprise that the value got pump instanty . unfortunately the market has now collapse because investors did already sold thier coins and they arent re investing yet at the moment .

Siren

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If theres a true garbage here,thats you and not bitcoin because you have nothing to contribute this community but purely garbages and trash just like your attitude

Bitcoin itself is innovative,and if you didn’t notice you are here just to have bitcoin and other crypto,because I cannot see other reason for your staying here if not for that,so stop being stupid and face the reality accept that good or bad publicity is still a publicity for bitcoin

nicosey

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Quote from: fuckcrypto on January 03, 2019, 10:45:26 AM

Mike Novogratz is a shill from the worst kind- same with this other BTC shill Tone Vays

These two are not BTC

Topic: The truth about the 20k bitcoin last year - page 2. (Read 1469 times)