wut

lol

Bitcoin will probably hit $30-$40k when some country has a debt crisis somewhere down the road and everyone thinks the same exact thing "OMG Bitcoin!" then shortly after that it will crash again for a 90% loss. Rinse and repeat.

Bitcoin certainly has a base value due to the sheer number of black and gray market transactions that either use Bitcoin or use it as an on ramp to other coins. I'm convinced that number is somewhere at a price of $250< x < $1000, so I'd be a strong buy at $250 assuming the tech stays whole. It wouldn't be higher than $250 due to the risk that the miners elevate a fork above main bitcoin to rake/rape a whole new generation of fish.

My main trading focus over the next few months would be to look to see if the desperate, money losing miners are looking to elevate any forks...if the mining power shifts you'll get a fresh ponzi wave piling in.

BTC>1000 USD FOMO was awful. This is inevitable.

That is what I said 4 years ago

Ya this.

How many years does the public need to forget about this crash? 3-4? So until then it's probably rangebound in the 4 digits?

Regardless of all that, doesn't one of these coins eventually have to win out? In theory the world needs one or a few of these, the use case is there for the black market and for moving money through borders at a minimum.

So my question is this:

Can they fix Bitcoin well enough to solve the inadequacies it has? Or can someone with deep pockets finance a better coin first that gets mass adopted? From 1990 to 1996 there were what, a half dozen search engines before Google? Gotta think this is a similar situation. One of these coins eventually makes Alex richer than God. Does it have to be the first one invented? If we managed for thousands of years to convince people that diamonds are valuable, surely this has a better shot than that.

I don't think that TOTAL collapse in faith will happen, where it reverts back to that pure black/gray market baseline. There are enough large players on the sidelines, waiting for this correction, ready to accumulate during the non-bubble times. Adoption actually has increased since then, and anchor points in price are higher, and as you know a lot of the price is purely psychological. Price could dip that low anyway, if irrational actors sell their bitcoins to fund an altcoin war for example and the market follows, but I doubt it.

Bitcoin is unfixable. It's fundamentally flawed. It's not possible to have a digital coin that's:

- Fast enough for point of sale
- Reliable
- Decentralized
- Secure
- Cheap

on current hardware for even 1/100th of the global population.

Bitcoin fails on four of those five at >1/100th of the global population using it to transact. That's a fact.

If you centralize a coin, all problems can be solved and it has all the properties needed of a digital coin. There is talk of doing that in central banks in Europe. This is obviously an ironic and horrible outcome, Bitcoin acting as the prod to usher in the exact opposite of Bitcoin's aims.

Central Bank Digital Currencies will Destroy Bitcoin

It's such an amazing tool of control and monitoring for the centralized EU and countries like China (which wants to move in that direction) that I think it's near certain some kind of digital secure cash system will be adopted at some point. At which point there will be an all out war with decentralized currencies. And they cannot hide due to the need to use a substantial fraction of global electricity output for security. Hell, they even justify as part of a response to "climate change". Regulation alone in the key economies would relegate bitcoin to a tiny market cap, without even any attacks on the system.

That's the long term future. The assclowns like NooseKnots who thought Bitcoin would be $100K now and would eventually become a high value store/payment settlements layer between banks were just delusional.

Who are these people? Why do you think they'll buy bitcoin now and not have bought it on the way up?

Were do you get the idea that adoption has increased? The metrics I'm looking at don't show that. Unique addresses transacting has dropped to less than two years ago. Unique address growth has never dropped and staled like this for anywhere near this long. Isn't that the opposite of increasing adoption, ceteris paribus? I know it's an imperfect measure especially with the exchanges, but it somewhat measures adoption.

Yeah I'd seriously look at buying sub $1000, but it would depend on what's happening.

Maybe cause it's down like 16K from a year ago?

i know just what bitcoin needs to get back on it's feet...a couple million fellas to contribute $200-$1000 to the bitcoin ponzi pool

Ohio to accept Bitcoin to pay tax bills?

https://www.wsj.com/articles/pay-tax...ure-1543161720

I don't see what this has to do with crypto or how it solves this

What part don't you agree with/follow?

So three possibilities to explain this drop with it now at $4000

1. Crypto is capitulating, this is the end for a while
2. A couple of whales are selling but otherwise all is as normal
3. The uncertainty and miner wars around BCH - serious hash power is being thrown in different directions which is making even the future of original (unforked) bitcoin a little uncertain - have people going risk-off
4. Serious criminal investigations have stopped pumping activity of the main actors

I think 3 is the most likely read. Which means when the wars are resolved...?

The narrative that the miners have any actual power is wrong. In the long run they'll follow the money and bitcoin is far past the point where it could be significantly affected by miner games even in the short run. (BCash and its forks are a different story)

Tether moved $50M and we got a decent little pump today. Hope ya'll enjoyed the Black Friday sale.

Over 10% increase in the price of bitcoin for only $50 mil in tether.

Tether printing has no connection what-so-ever with this bounce.

Who's to say, I think the jump from $3,500 to $4,000 was because of institutional money.

I thought it had to do with the Browns win.

Gonna be a lot of coke in Cleveland tonight!

If you like sales then I've got great news for you, there will be a lot more of them coming!

I'd go with 1. When ~6k broke with volume, the tea leave readers must agree on new triangular support and resistance levels.