/biz/ - Business & Finance

Even though many people are down 50-80% on their investment we haven't hit capitulation yet.

>Everyone saw bitcoin 20x in 2017

Being down 50% on your investment is nothing when you believe that if you just HODL it will 20x on the next bullrun. This is why capitulation hasn't happened. Until we see people realizing their losses by selling and claiming to "be done with crypto forever" we aren't at capitulation.

Even in this bear market I see tons of optimism on social media. Maybe once we fall below the 5800 support capitulation will finally happen and we have a mega drop to 3k or lower.

Been looking at the charts from the bear market of 2014-2015.

On August 24th, 2015 the price dropped to $211 after being at $295 3 weeks earlier and after almost 2 years of a bear market with a lot of ups and downs. This was the last time it would ever be this low.

One day it was the last day to buy the bottom and there weren't any clear indicators. I wonder when we will be at the bottom of this bear market?

I just got played with a fake pump didn't I. It's going down and the alts I sold are going back up. God I fucking hate bitcoin.

Read this email chain from Satoshi himself talking about how bitcoin can scale on chain to rival Visa and do it more efficiently. Listen to him talk about Moore's law (which CSW does constantly by the way). Listen to him talk about a network with low or NO fees. Listen to him talk about how server farms will eventually happen and THATS OKAY.

https://pastebin.com/Na5FwkQ4

Yes this is legit
https://www.reddit.com/r/btc/comments/6t2ci2/never_before_seen_mike_hearn_satoshi_nakamoto/dliizv6/

COREKEKS ABSOLUTELY BTFO

There are people out there will tens of thousands or even 100k bitcoins. If bitcoin ever gets to a million were talking about people with a net worth of over a trillion dollars. This is 10x the net worth of Bizos the richest man in the world. Do we really see this as a possibility? Seems highly unlikely that the top 500 richest people in the world are going to get BTFO'd by some bitcoin hodlers....

me a rookie make many mistakes and still comes out ahead so whom lost money?

Spit on its grave

Please explain how lightning network isn't just PayPal 2.0 or Visa 2.0 and how it doesn't create major centralized bank as the main hubs for the network.

Also please explain how cutting the miners out of fees is going to keep your network secure.

None of this makes sense to me.

Please explain why people will keep buying BTC at ATH pumping it to 100k and making all of the early investors rich when they could be an early investor on an altcoin (with better tech) that could make them rich.

How long do you think this train is going to keep going? Most people will assume they missed the train on BTC and look for alternatives. This is why you are bleeding market dominance and it will only get worse.

I propose that one of two scenarios must happen.

1) Bitcoin has to change their mining reward to not eventually go to 0

2) Bitcoin dies when mining reward goes to 0

Let me explain why:
Once the mining reward goes to 0 the only thing left for miners will be fees paid by the users. This creates only two scenarios. You either have a secured network with insanely high fees (the current BTC reward is almost 100k per block) or you have low fees and few miners meaning no network security.

Lightning Network doesn't stop this from happening either. Try to refute this statement.

So everyone knows if you bought bitcoin a year ago you got 10x returns.

However if you bought Bitcoin on Sept 1st when it hit 5k, you will be lucky to get 2x by the end of the year (10k BTC) and that is over a 4 month period.

I think BTC is only a good return if you buy the bottom of the crashes at this point.

Let's just talk some common sense here as investors. Let's say we think theres a chance BTC is going to hit 25k sometime next year. Sounds like a big number right? Well 25k is only 3x gains at the price of $8300. 3x. That's it. This is crypto land where altcoins have 3x pumps over a weekend. Hell BCH went 5x from $300 to $1500 in November.

Why are you so attached to BTC? The days of major gains are gone and it isn't even a very good crypto anyways. You think that just because BTC has a history of good gains that it is going to continue forever at the same rate that it has?

For BTC to continue returning 10x gains a year that means 80k EOY 2018 and 800k EOY 2019. How long do you think people are going to keep buying BTC when the price gets that crazy?

Get over your obsession with BTC. It isn't some magical crypto that is guaranteed to make you a millionaire.

I'm trying to learn margin trading but I am running into problems. Let's say I want to margin long BCH at 20x leverage on Bitmex. I have to use BTC for my collateral but I also think BTC is going down so I am guaranteed to take a loss. That sucks! And it looks like Poloneix doesn't even let you short BTC?

Wouldn't you want your collateral to be in a stable coin like ETH or Ripple during the next flippening attempt?

Please help!

Everytime I check BCH is slightly more profitable to mine than BTC but only ever has 10% or less of the hashpower.

Anyone have a theory as to why miners are mining at a loss (besides the flippening). I personally think the flippening attempt could be happening but I am curious to hear any valid reasons why they might mine at a loss besides that.

When you are suppose to keep your BTC on your ledger nano S so you dont get goxed but it takes over an hour to transfer it to an exchange in the event of a crisis price crash

DAFUQQQQQQ

So one of the biggest "store of value" thoughts behind bitcoin is the limited inflation capped at 21million coins. This is a cool concept but what happens on the day we mine the last bitcoin reward?

Currently each mining reward 12.5BTC * ~$8000 is rewarding miners with $100,000 per block. Are we going to be expected to pay transaction fees high enough to cover that once there are no more rewards?

Maybe the hash rate will drop off a lot once the rewards are gone but doesn't that leave the blockchain vulnerable? Seems like this design has some serious flaws.

In a few years people will look back and laugh at how a group of idiots thought that a digital currency that didn't scale would still be worth 10 trillion marketcap because it was "digital gold" and a "store of value". Screen cap this.

If you are going to do a majority of transactions on a layer 2 solution that isn't on the blockchain.... what is the point of even having the crypto currency?

Alright BTC supporters. I would like one reasonable explanation as to why you think BTC taking 2016 blocks to adjust difficulty is a good system over BCH adjusting every block to maintain 10 minute block times. Once other cryptos started competing for hashpower this was obviously a flaw in the original BTC design that needed to be fixed but never was. Please explain why.

Regardless of the outcome tonight I will never hold BTC. If you want to hold a coin where the devs think 150k unconfirmed transactions is "not a problem" and $10 fees are "features" you go ahead and do that. I think no matter what happens fear was struck into the heart of all BTC hodlers today. They realized they aren't untouchable and their coin indeed sucks.

>Play game of Overwatch
>ask everyone if they riding the bitcoin cash train to 5k
>they respond its already over 7k / dropped to 6k today

I realized that normies keep an eye on bitcoin price or see it in the news so they are aware of it, but when the dust settles they will just think bitcoin cash IS bitcoin. They don't know the difference.

Please give me one good reason why you support 1MB block sizes.

I'm watching a video of Roger Ver on youtube talking about how they were in the process of incorporating bitcoin into mobile apps with 150million users and how bitcoin would be worth over 100k today but it was all halted by the bitcoin scaling problems.

If you have been holding bitcoin for more than a year then core has kept you from making 10x more gains than you already have. Please explain why you support them.

https://blockchain.info/unconfirmed-transactions

It's gonna hit 100k unconfirmed transactions tonight. What is the highest its ever been?

https://blockchain.info/unconfirmed-transactions

Been watching this since this morning. Just keeps going up. How are them transaction times and fees treating you BTC fanboys?