Bitcoin Price Thread

Anyhow let's go back to the technical issues, so 2017 is when Bitcoin stopped being a currency. I haven't even realized it got this bad:

"Bitcoin Cash transaction fees, on average, cost less than $0.20 USD while the average bitcoin transaction fee sits over 100x higher around $21 USD and bitcoin cash confirmations take on average 8.5 minutes while bitcoin confirmations take at least an hour on average. Plus Bitcoin Cash can do roughly 31 transactions per second while bitcoin can only do between 4-8 per second even with Segwit."

It is obvious the clear technological winner is Bitcoin Cash, but will the market notice?

Furthermore, the mempool is filling up with unconfirmed transactions (currently 160K). They are talking about LN but when would that happen???

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People usually think I am against Bitcoin. I am for new inventions and the better should win out, not the one whose coin I am hodling...
 
Pekelo said:
Anyhow let's go back to the technical issues, so 2017 is when Bitcoin stopped being a currency. I haven't even realized it got this bad:
"Bitcoin Cash transaction fees, on average, cost less than $0.20 USD while the average bitcoin transaction fee sits over 100x higher around $21 USD and bitcoin cash confirmations take on ...
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[jmho] Bitcoin = digital gold = store of value = ok for purchases of $500 or more (if you use a good wallet that can adjust transaction fees, set to 300 satoshis/byte which is around $12-$13 and you should get confirmed in the next 1-3 blocks)

[shill alert] For daily small transactions, I see potential in Groestlcoin (small portion of my crypto portfolio). At current valuation of less than $100M versus Litecoin's $16B or Bcash $30B, it has a lot more room for growth. Lots of development. Accepted as currency in a few places. It can go 10x and still less than $1B. DYODD.
 
johnarb said:
[jmho] Bitcoin = digital gold = store of value = ok for purchases of $500 or more
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The problem is that what were advertised for the average people years ago, like transactions fast and cheap even for small amounts aren't true anymore. 3 transactions per second is laughable when one wants to conquer the world. And the problems aren't addressed.

It is easier to start a new coin with the advanced features than trying to get a consensus. The fork is the best way to get into people's wallet quickly, but then there is the animosity between old and new.

In short, price success killed Bitcoin as currency. Satoshi is be spinning in his grave so fast that the network could generate all the electricity needed for mining. What would Satoshi do? He would use Bitcoin Cash...

"According to Digiconomist’s estimates, one bitcoin transaction uses as much electricity as almost eight American homes do in a single day. If bitcoin’s energy consumption continues to grow at its current rate, by February 2020, the bitcoin network will consume as much power as the entire world does today, according to Eric Holthaus."
 
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Covertibility said:
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No way !
 
Pekelo said:
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"According to Digiconomist’s estimates, one bitcoin transaction uses as much electricity as almost eight American homes do in a single day. If bitcoin’s energy consumption continues to grow at its current rate, by February 2020, the bitcoin network will consume as much power as the entire world does today, according to Eric Holthaus."
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Salivating at what it means to the price of each coin
 
Surprise said:
No way !
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Throw the damn towel...epic Rocky movie GIF.

That's the great thing about trading...constantly two sides, or forces, pulling each other in different directions.
It's almost like a spiritual or supernatural fight trying to understand and gauge those competing forces.
Not many souls can nail and manage and tame the market.
 
Hoi said:
Yes, it's a free and open market of Innovation! By default! That has always been the case for 9 years already. The strongest and best, with most miners and users will win, and has to be continuously innovative to keep ahead.
Be aware that it was Litecoin which was the first Alt-coin about 5 years ago, and there after several thousands followed, and still today each day a "new" Alt-coin is invented. Most of them die early, but we still have more than 1000 in this space today.

It really isn't that much different to what is happening in the Social-app space. Thousands of Facebook copies around the world, all fighting for the top spot. But as long as Facebook keeps innovating and attracting people, it will be king.
The same with Bitcoin: if it keeps innovating and keeps most Miners, Exchanges, App-builders, and Users. It has nothing to fear from copycats as it was the case with the thousands Alts before.
As investor I keep a close look to which and how many Developers/Innovators are linked to which coin and with what new features they are working, testing and releasing. By far nearly all hotshots are working on Bitcoin or Ethereum.

About Bcash (with no major developer): with all the Bitcoin-money Rodger Ver has as well as his huge marketing efforts. He clearly fails to prop up his coin. Just look at the BTC/BCH chart and see that he hardly can push his coin above 10% of Bitcoins price. And I read somewhere that his blocks in the blockchain are nearly empty, which means no one is really using it at all.

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Ok agree that if BTC can keep inovating price can keep moving ( no diff than any other dynamic institution. Ie: AAPL, etc.). How does existing BTC off existing block innovate ? Did not know it could do that.
 
lawrence-lugar said:
Throw the damn towel...epic Rocky movie GIF.

That's the great thing about trading...constantly two sides, or forces, pulling each other in different directions.
It's almost like a spiritual or supernatural fight trying to understand and gauge those competing forces.
Not many souls can nail and manage and tame the market.
More...

 
sss12 said:
Ok agree that if BTC can keep inovating price can keep moving ( no diff than any other dynamic institution. Ie: AAPL, etc.). How does existing BTC off existing block innovate ? Did not know it could do that.
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Apple products prices don't go up like that ...
 
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