[TheMoneyShot]

Just seems like an oversimplified view. Look at the Bitcoin graph for the last 3 years, particularly the 2 huge spikes, and tell me how that happened if the gov or banks had any control over it.

It's not going away. Get in while you can imo

The only thing I question is.... when it climbed as high as 19.5k.... and then collapsed all the way to 3.2k.... that's not alarming to you?

Everyone can make excuses... media... people... investors... whales... etc. There was no reason... "systematically" for it to crumble before.... but it did. There was "popularity" when it wouldn't budge past 4k months ago.

These spikes are all manipulated by apparent "higher powers".

No chart can dictate 16k drops for the hell of it.

There is no way people would ever be CALM ENOUGH to hold at 20k.

[raiders72001]

Just seems like an oversimplified view. Look at the Bitcoin graph for the last 3 years, particularly the 2 huge spikes, and tell me how that happened if the gov or banks had any control over it.

It's not going away. Get in while you can imo

I agree it's not going away even if banned in the US. Bitcoin has been through 4 bubbles and always bounces back.

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I agree it's not going away even if banned in the US. Bitcoin has been through 4 bubbles and always bounces back.

Pointless trying to explain to bitcoin shills that bitcoin may fail in the future due to unforeseen events.
The key being "unforeseen". Nobody knows what catastrophe potentially looms in the future. Nobody knows how governments will try to undermine confidence in bitcoin. While bitcoin can operate even if banned cashing out to fiat might be a different story.

I can see bitcoin hanging around as a useful tool for moving money but it will never become the sole way of doing things financially, there will always be room for others, ie paypal, interac, vissa matercard, skrill, muchbetter etc.

Bitcoin is based on blockchain technology, which is basically a computer program. Anyone that thinks a computer program (running bitcoin) will be replacing the current fiat system is ignorant.

As for price predictions its always the same old "bircoin has rebounded before" nonsense and when asked why bitcoin will reach the astronomical highs predicted by fanboys and supporters its always "because its bitcoin brah"!

Oh & I know people have been and are continuing to make money on bitcoin but the other side of that is that many are also losing money.

[icon]

It's not going away. Get in while you can imo

I'm not saying it WILL go away. I'm saying it might go away because the future is unknown.

I'm also saying bitcoin will likely just end up as another payment system, one of many. No way will bitcoin rule the world. That is just not going to happen.

Oh and the "get in now" schtick reeks of ponzi.


Also, gamblers use bitcoin to fund and get paid and even they balk at the fluctuations in price. GAMBLERS that have high risk tolerance are weary of bitcoin price fluctuations. The average financially conservative person or square is never going to buy into something that can change 15% in value in minutes.

I also wanted to include the fact that I use bitcoin and find it a useful tool. I hope it sticks around. I wished the price would stabilize and not fluctuate so much and not be so easily manipulated by whales.

[asiagambler]

How far away is quantum computing?

That would spell doom for bitcoin as it currently exists though of course at that point, the same would be said for RSA, public key cryptography and basically all online commerce as we know it.

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How far away is quantum computing?

That would spell doom for bitcoin as it currently exists though of course at that point, the same would be said for RSA, public key cryptography and basically all online commerce as we know it.

Great point. Technology is always improving. Bitcoin seems great right now to a group of enthusiasts but sooner or later something better will be developed. People thinking bitcoin alone is the future are not thinking very hard.

[raiders72001]

Pointless trying to explain to bitcoin shills that bitcoin may fail in the future due to unforeseen events.
The key being "unforeseen". Nobody knows what catastrophe potentially looms in the future. Nobody knows how governments will try to undermine confidence in bitcoin. While bitcoin can operate even if banned cashing out to fiat might be a different story.

I can see bitcoin hanging around as a useful tool for moving money but it will never become the sole way of doing things financially, there will always be room for others, ie paypal, interac, vissa matercard, skrill, muchbetter etc.

Bitcoin is based on blockchain technology, which is basically a computer program. Anyone that thinks a computer program (running bitcoin) will be replacing the current fiat system is ignorant.

As for price predictions its always the same old "bircoin has rebounded before" nonsense and when asked why bitcoin will reach the astronomical highs predicted by fanboys and supporters its always "because its bitcoin brah"!

Oh & I know people have been and are continuing to make money on bitcoin but the other side of that is that many are also losing money.

Bitcoin just cuts out the middle man. Why should you go through a bank to verify funds? Why pay credit card fees? Paper money will be replaced, bitcoin will be replaced. Right now bitcoin works since it's peer to peer, has name recognition and is very simple.

[raiders72001]

Great point. Technology is always improving. Bitcoin seems great right now to a group of enthusiasts but sooner or later something better will be developed. People thinking bitcoin alone is the future are not thinking very hard.

No one thinks bitcoin alone is the future. That's why many of us look at alt coins, the coin that replaces bitcoin. We look at coins with smart contracts such as ETH, then there's IOTA and NANO. Bitcoin is first generation. Bitcoin enthusiasts look much further down the line than you portray or see.

[raiders72001]

[COLOR=rgba(0, 0, 0, 0.84)]Generation 0 Cryptocurrency (2009)[/COLOR][COLOR=rgba(0, 0, 0, 0.84)]: [/COLOR]BTC[COLOR=rgba(0, 0, 0, 0.84)]— PoW mining, SHA256 algorithm, high scarcity[/COLOR][COLOR=rgba(0, 0, 0, 0.84)]1st Generation Cryptocurrencies (2009–2014)[/COLOR]

• Different algorithms (Ethash, Scrypt, X11, etc)
• Different proof types (PoS, PoW/PoS hybrids, DPoS, PoT)
• Different scarcities (high deflation, low deflation, high inflation, low inflation)
• Different distribution methods (Mining, minting, masternodes, airdrops, ICOs, ITOs)
• Different add-on layers: Sidechains, Colored coins, Token platforms (XCP, OMNI, etc)
• Increased built-in anonymity & privacy functions (XMR, DASH, ZEC, PART, etc)
• First decentralized exchanges and marketplaces (BTS, OpenBazaar)

[COLOR=rgba(0, 0, 0, 0.84)]2nd Generation Cryptocurrencies (2014–2018)[/COLOR]

• Smart contract platforms (ETH, ETC, STRAT, UBQ, EXP, LSK, XLM, EOS, etc)
• Different network topologies: DAG (IOTA, GBYTE), Block-lattice (NANO)
• Different governance models (DCR, XTZ)
• Off-chain payment channels (LN, RDN)
• Maturing distribution and usecases via ITOs
• First identity solutions (Civic, Blockstack, Valid, uPort)
• Maturing decentralized exchanges & protocols (OpenLedger, ZRX, BLOCK, WAVES, EtherDelta, RuDEX, IDEX, Tidex, RadarRelay, Atomic Swaps, etc) and marketplaces (DNT, BNTY, PART)
• First stablecoin experiments (USDT, DAI, Basecoin)

[COLOR=rgba(0, 0, 0, 0.84)]3nd Generation Cryptocurrencies (2018–)[/COLOR]
[COLOR=rgba(0, 0, 0, 0.84)]Since these don’t yet exist, I will write about what I expect to see and what I would like to see develop:[/COLOR]

• Highly scalable, fast, cheap to transact, secure (as much as PoW-based bitcoin), and lightweight cryptocurrencies
• New ledgers light enough to have browsers/phones/sensors as full nodes
• High liquidity decentralized exchanges
• Maturing new governance protocols, enabling users, developers, and stakeholders to create mutable and dynamic protocols that adjust to demands, and are more resilient to threats
• Maturing decentralized identity projects, turning KYC/AML requirements seamless or alternatively, obsolete
• More intricate anonymous and private coins/assets and marketplaces for niche groups
• First IoT protocols working at a sensor level
• Decentralized identity based new distribution methods, resulting in lower gini coefficients, and fairer asset distributions
• Dynamic and decentralized supply-adjusting cryptocurrencies, with the supply of new coins being pegged to live demand, preventing both inflation and deflation from ocurring (incentive-based or AI managed)

https://medium.com/@BenTheMentor/cry...s-b79270594800

I would break it down into more generations than this guy does but this just gives an example that no one thinks bitcoin is the end all.

[TheMoneyShot]

https://medium.com/@BenTheMentor/cry...s-b79270594800

I would break it down into more generations than this guy does but this just gives an example that no one thinks bitcoin is the end all.

But that's the thing Raiders...

How is it possible for all of these ALT coins to survive? There simply isn't room for all of them. Who's going to be the big boy worldwide? That's the Billion dollar question. One will survive.... one will lead. I don't see any coin on Bitcoin's ass at the moment?

I find it somewhat.... impossible for a 2nd or 3rd best coin. Only way Bitcoin could derail itself.... the network somehow fails... wouldn't that be impossible as well?

[pilebuck13]

Already basically pointless as fuk besides illegal purposes who want to pay fukin all the fees and have their money in a open market where they could lose 100’s of dollars... crypto is the Wild West period.

[raiders72001]

But that's the thing Raiders...

How is it possible for all of these ALT coins to survive? There simply isn't room for all of them. Who's going to be the big boy worldwide? That's the Billion dollar question. One will survive.... one will lead. I don't see any coin on Bitcoin's ass at the moment?

I find it somewhat.... impossible for a 2nd or 3rd best coin. Only way Bitcoin could derail itself.... the network somehow fails... wouldn't that be impossible as well?

99% of the alts are scams. I jump on some of the alts that I think have the possibility of being listed on Coinbase or Binance. I try to ride the wave on pumps and jump off before the dump. It happens every day. Of course I get caught being wrong a lot of times.

I mention this all the time but ADA is my favorite long term hold although it's been frustrating waiting so long on this.

[asiagambler]

Already basically pointless as fuk besides illegal purposes who want to pay fukin all the fees and have their money in a open market where they could lose 100’s of dollars... crypto is the Wild West period.

^^^This is exactly why mass adoption is still far away IMO.

[icon]

No one thinks bitcoin alone is the future. That's why many of us look at alt coins, the coin that replaces bitcoin. We look at coins with smart contracts such as ETH, then there's IOTA and NANO. Bitcoin is first generation. Bitcoin enthusiasts look much further down the line than you portray or see.

Thats sounds more realistic and I can agree with most. I still think the predictions of bitcoin at $50k and higher is just nuts though.

One of the biggest challenges is going to be converting bitcoin to fiat. Bitcoiners love that bitcoin is unregulated but do they want to deal with unregulated exchanges when investing thousands of dollars? I know I wouldn't.

[asiagambler]

99% of the alts are scams. I jump on some of the alts that I think have the possibility of being listed on Coinbase or Binance. I try to ride the wave on pumps and jump off before the dump. It happens every day. Of course I get caught being wrong a lot of times.

I mention this all the time but ADA is my favorite long term hold although it's been frustrating waiting so long on this.

Heard the same thing with respect to ADA from a lot of smart people but got sick of waiting and bailed on it last year. I hate holding alts long term in general. Feels like I'm playing with fire.

[Ro0k]

Alt season is coming.

[StackinGreen]

It's an asset class, and not a bad one since fiat currencies are rapidly become a joke if not the USD.

See what Japan's central bank has done? ECB with negative interest rates? LOL, Draghi gone, they can put it off for a while, but it won't end well.

[TTA_President]

Interesting thread

[Bsims]

How is it possible for all of these ALT coins to survive? There simply isn't room for all of them. Who's going to be the big boy worldwide? That's the Billion dollar question. One will survive.... one will lead. I don't see any coin on Bitcoin's ass at the moment?

I find it somewhat.... impossible for a 2nd or 3rd best coin. Only way Bitcoin could derail itself.... the network somehow fails... wouldn't that be impossible as well?

I tend to agree. I'm in the process of updating a study I did a bit over a year ago looking at the largest coins market cap wise. I began by looking at their growth rates over each of the last 6 quarters. I did linear regression against the daily closing prices and using the slope as the growth rate. Following is a link to the results file.

https://drive.google.com/file/d/1bfr...ew?usp=sharing

While some outperformed BTC in a few quarters, none did so consistently.

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While some outperformed BTC in a few quarters, none did so consistently.

Probably because the altcoins are traded mostly by gamblers and crypto enthusiasts and believers/dreamers.

Bitcoin and Ethereum are the only really widely used cryptos. I'm sure down the line somewhere one of the alts will get discovered and become more mainstream. Problem is its like finding a needle in a haystack.

[lotuspod]

I don't see things going to that extent, in fact having what would essentially be a btc monopoly could be dangerous. Already a great deal is being bet on lightning network being largely successful in order to scale. Not all coins have the same purposes/goals/etc either, we're only starting to see what's possible and we're still firmly in the early adopters phase in general.

With that said - btc is king of course. Alt trades should almost always be measured in sats, not usd.

[zam77]

Pretty much at the point we’re I’m content leaving my investment, which I’m comfortable losing, in btc and leaving well enough alone. Trying to keep up with the crypto alt market is a bitch... I’ve had no luck. Having a stake in btc is pretty much a no brainer for too many reasons to list... key is just making sure you’re comfortable losing what you put in. The potential upside is like nothing else out there at the moment though as btc is hitting mainstream big time while still desirable entry points...so going to let it ride til it’s either gone or explodes.. not expecting either to happen anytime soon though.

[raiders72001]

Probably because the altcoins are traded mostly by gamblers and crypto enthusiasts and believers/dreamers.

Bitcoin and Ethereum are the only really widely used cryptos. I'm sure down the line somewhere one of the alts will get discovered and become more mainstream. Problem is its like finding a needle in a haystack.

A lot of casinos are run on EOS and TRON. Throw those 2 in the mix since they have more active DApp users than ETH.

[Bsims]

A lot of casinos are run on EOS and TRON. Throw those 2 in the mix since they have more active DApp users than ETH.

I did not know this. Are they all online? Will you name a few?

[Bsims]

Bitcoin and Ethereum are the only really widely used cryptos. I'm sure down the line somewhere one of the alts will get discovered and become more mainstream. Problem is its like finding a needle in a haystack.

Libra (if and when it is implemented) will have a dramatic impact on the alt coins. I can see a future where Libra is the primary coin for transactions and bitcoin as an investment (gold like). There might be a coin for anonymity.

[Sam Odom]

$10,599.44

[raiders72001]

I did not know this. Are they all online? Will you name a few?

https://dappradar.com/rankings

https://www.dapp.com/search/Casino

If you are looking for a book with Sportsbook, Casino and Poker, Nitrogen and Betcoin have it.

[Bsims]

https://dappradar.com/rankings

https://www.dapp.com/search/Casino

If you are looking for a book with Sportsbook, Casino and Poker, Nitrogen and Betcoin have it.

Thanks

[Arky]

Pretty much at the point we’re I’m content leaving my investment, which I’m comfortable losing, in btc and leaving well enough alone. Trying to keep up with the crypto alt market is a bitch... I’ve had no luck. Having a stake in btc is pretty much a no brainer for too many reasons to list... key is just making sure you’re comfortable losing what you put in. The potential upside is like nothing else out there at the moment though as btc is hitting mainstream big time while still desirable entry points...so going to let it ride til it’s either gone or explodes.. not expecting either to happen anytime soon though.

Yes, the long haul is my preference. Staying zoomed out. I don't trade - it's a lot of work & stress and they say 90% who do trade eventually get rekt (although we seem to have a lot ace traders here). Gotta keep emotion out of it.

Buy, hodl and lower your DCA (dollar cost average) when you have the chance. I felt downright nutty back in December - I was 60% in the hole and still buying - got $2k EOS for $1.87 and $1k Eth for $88.

Bitcoin has only been over $10k for a month - it seems longer. The next couple of years should prove to be interesting....

[JAKEPEAVY21]

Pretty much at the point we’re I’m content leaving my investment, which I’m comfortable losing, in btc and leaving well enough alone. Trying to keep up with the crypto alt market is a bitch... I’ve had no luck. Having a stake in btc is pretty much a no brainer for too many reasons to list... key is just making sure you’re comfortable losing what you put in. The potential upside is like nothing else out there at the moment though as btc is hitting mainstream big time while still desirable entry points...so going to let it ride til it’s either gone or explodes.. not expecting either to happen anytime soon though.

well said and pretty much my stance, zammer

[StackinGreen]

Libra (if and when it is implemented) will have a dramatic impact on the alt coins. I can see a future where Libra is the primary coin for transactions and bitcoin as an investment (gold like). There might be a coin for anonymity.

This is really scary, it is indeed the desire of the globalists to take it to totally tracked (read: cashless) societies that are still based on fiat, in one way or another. I'm sad to say it is the most likely outcome, too.

Libra is evil.

[Sam Odom]

$9,786

+86.9% last 90 days

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$9,786

+86.9% last 90 days

Great stat if you bought 91 days ago. Not so great if you bought 10 days ago.

[Sam Odom]

icon

Hindsight is 50/50

[asiagambler]

�� 10,000,000 #USDT (10,022,828 USD) transferred from Tether Treasury to #Poloniex

Tx: https://t.co/etUv3XnRz7

— Whale Alert (@whale_alert) July 26, 2019