/biz/ - Business & Finance

[Anonymous No.4137540]

Is everything setting up for another crash to mirror 2013?

BTC forking continuously is causing all normies and investors to FOMO and drive up the price for no reason other that people wanting free money.

Causing all alts, no matter if they're useful, shit, or have real businesses behind them, to crash because normies see all of crypto as "Bitcoin" while the more serious investors in the know only trade alts to get more BTC.

Segwit 2x has the potential to cause much more of a shitstorm than BCH ever could.

After Nov 16th, if the unthinkable happens and Segwit 2x becomes the "real" BTC, combined with normies selling their "free" fork not realizing the no replay protection thing, are we going to see a fucking huge crash back down to 1kish?

I feel like BTC's been hyped too hard with too much uncertainty about its future for this to last. Actual projects with real use cases are ignored because of people chasing the BTC train, and when that screeches to a halt, people are going to flip out, panic, and exit.

Is the best play right now to actually buy the best alts possible and wait for developments in 2018? Is this the time where we can find the next true moon, like ETH, while everyone's distracted with BTC?

[Anonymous No.4137565]

>>4137540
I'm just gonna hold bitcoin bitocin cash and bitcoin gold i'm sorry guys I can't do alts anymore

t. guy who shilled pivx first and made hundreds of thousands on it and watched most of it evaporate in ICOs like bancor

[Anonymous No.4137566]

>>4137540
etp

[Anonymous No.4137636]

>>4137565
This is the kind of sentiment I'm seeing that I'm talking about.

People are getting angry, scared, and irrational. Ignoring all fundamentals, whether or not a project is actually good or not, and just throwing money around even more haphazardly than before.

It's reaching a fever pitch, and through 2018/2019, after everyone's fucking done with the markets, a few alts that were being worked on are going to actually get attention and start being used. People will see this, then realize through all of the insanity, they missed out on the Google, Amazon, Apple, Microsoft, of the crypto world similar to the ones that rose up out of the dotcom crash.

Stop chasing quick gains. Find what you feel are the most solid projects, and just wait.

[Anonymous No.4137662]

>>4137636

I've got a ledger on my way. I'm going to lock up my 160k LINK and the go focus on other things for a while.

I think the next couple of months are going to be fucked for crypto, and Bitcoin will be the cause. I agree with your whole assessment.

[Anonymous No.4137694]

>>4137566
checked.

also I'm hedged in ETP, BCH and just holding any forks. see you all on the other side

[Anonymous No.4137735]

>>4137540
>if the unthinkable happens and Segwit 2x becomes the "real" BTC,


How the fuck is that "unthinkable"? With so much hashpower behing 2x the 1x chain will be basically unusable.

I'd give 80% chance the 1x fork is so obviously crippled that it's collapsed to nothing within 72 hours of the fork

[Anonymous No.4137758]

>>4137636
fuck off retard you're a salty faggot who's never made a 50x in his life this current alt season is o v e r bury it cry a river and get over it bitcoin's going to 50k then we'll see some new shitcoin pumps

[Anonymous No.4137787]

>>4137758
Fuck off, if you think this alt bear season will last after the segwit2x fork then youre fucking deluded.

[Anonymous No.4137836]

Is Bittrex gonna be good about giving us our Segwit 2x quickly for trading like with Bitcoin Cash?

I wanna buy in quick on that while the retards sell their "free" money for BTC

[Anonymous No.4137865]

>>4137735
No chain has to necessarily die.
Bitcoin hashpower is so huge that it could be divided into thousands of chains and all remain secure.

Lets say hashpower is divided 1/2 even into each coin. Extremely unlikely scenario, but both chains could co-exist. The price would probably halve, but mining difficulty would also halve, so the incentive for mining pools would remain the same for both.

[Anonymous No.4137890]

lol at people that think 2x has a chance, it doesn't even have a dev team

[Anonymous No.4137923]

>>4137890
I thought fundamentals didn't matter in this meme market.

[Anonymous No.4137941]

>>4137636
I'm nearly at a million dollars now, I store it in my Trezor.

[Anonymous No.4137952]

>>4137758
So Bitcoin has to go to 50k first?

[Anonymous No.4137971]

>>4137758
This I made a 500x and I'm addicted to this shit. I'm a keep going. Fuck you all

[Anonymous No.4137978]

I hope so

[Anonymous No.4137984]

>>4137540
Bitcoin is going to drop HARD around the 14th-15th.

Why? Fear.

[Anonymous No.4138000]

>>4137540
You obviously have no idea on why the 2013 crash occurred.

Nothing will happen. Hold bitcoin, forget the shitcoins already.

[Anonymous No.4138005]

>>4137865
youre forgetting the fact that if btc lost half its hashrate, depending on when it happens in the difficulty retarget, could go without solving a block for a long time, until the next difficulty retarget. Even then the difficulty retargets slowly so it would still go slow af until the next target and so on.

[Anonymous No.4138017]

>>4138005
(((they))) will hard fork bitcoin core or whatever segwit jewshit is currently trading on the BTC ticker

[Anonymous No.4138024]

>>4137540
>Is the best play right now to actually buy the best alts possible and wait for developments in 2018
yes. no one is going to 'make it' starting with btc now.

[Anonymous No.4138034]

>>4138017
in other words if hashrate disappears for segwit 1x they will emergency fork to a new difficulty algo or whatever to try to save their ass

[Anonymous No.4138076]

>>4138024
I remember people saying this when Bitcoin was sub-$1000.

For all we know those memers are right and 1 bitcoin will be $1,000,000 in 2030.

[Anonymous No.4138170]

>>4137662

How do you "lock up" a shitcoin, or even a real coin like BCH?

[Anonymous No.4138277]

>>4138005
Shit, you're right. I hadn't thought of that.

Worst case scenario, if you were just in the 1st of the 2016 blocks needed to retarget difficulty, it would probably take as twice as time for each block (this, continuing the scenario in which hashpower for both chains was divided even).
So instead of two weeks, it would be a month. A month in which transactions would be confirmed twice as slow.

That, I belive, was a bad move on the original bitcoin whitepaper. Newer coins retarget once per block, which would fix this issue.

[Anonymous No.4138287]

>>4137735
Bitcoin cash also had like 90% of hash power behind it
It went away pretty quickly

[Anonymous No.4138315]

>>4137540
>1k
Most likely never going to happen again. Even if there were a terrible combination of negative catalyst events - a perfect storm if you will all it will do to the price is push us back to the linear mean out of the parabolic bull cycle we've been in for the last 18 months or so back to a plain ol' linear bull cycle. There will however continue to be corrections they are typically between 30-45% of the ATH price, a good way to see where the next bottom is likely to fall is if you overlay a 125 MA on the 1d charts, if that level is denied then it that's when the 'crash' will be and it will likely be a 60%-70% reduction in price from ATH. A few days ago it looked like if it couldn't hold the mid 5000s then that would be extremely bearish due to the timeframe of the current wave and a complete lack of the final bullish leg which we have now seen manifest. Stuff like that is something to watch for but alas it held strong.

If a correction begins try to short early on 3-5x leverage with a position size the equivalent of your total BTC holdings - congratulations you are now flat and in a perfect state to capitalize. Instead of cashing out you'll now would have locked in the value of your holdings at your entry point allowing you to cover as you wish. This is a great way to further grow your BTC holdings and I've done this myself on the last 2 dips, the fall back to 3k I even opened a large long after I covered (about 3.3k entry on the long), I closed 50% of it at 5.6k and I closed a further 25% of it yesterday near ATH.

[Anonymous No.4138339]

>>4138315
How do I short and long bitcoin?

[Anonymous No.4138384]

>>4138315
I don't think bitcoin will even exist anymore in 2040. It's the netscape/myspace/msn messenger of cryptocurrency. Once the largest motherfucker on the block but will eventually fall to the next one in line.

And I'm not so sure the replacement exists yet.

[Anonymous No.4138460]

>>4138384

This is the proper way to think. Something will replace BTC one day, but until it's apparent what that is just continue to accumulate BTC

[Anonymous No.4138487]

>>4138460
>roughly 50% of the market is ERC20 tokens traded in ETH
the flippening already happened, you just don't realise it yet.

[Anonymous No.4138503]

>>4138460
>Something will replace BTC one day,

Why would that be anytime in our lifetimes?

[Anonymous No.4138525]

watching alts get crushed

[Anonymous No.4138626]

>>4138503
>Why would that be anytime in our lifetimes?

Crypto's only been a thing for a little under 9 years, with it existing in the limelight for a hell of a lot more than that. A hell of a lot can change in another 9 years. BTC's only advantage over all the alts is first to market

[Anonymous No.4138630]

>>4138626
hell of a lot less*

Whoops

[Anonymous No.4138676]

>>4138503
>In our lifetimes.

I'm still only in my late thirties but I have seen the fall of the iron curtain. The fall of the soviet union.

Seen numerous market leaders such as Kodak,IBM,Nokia Just straight up CRUMBLE because they didn't adapt to the market in time.

Rise of personal computers,Internet,Mobile phones,Smartphones,Social media,Neural Networks,Blockchain.

I've seen the dot-com,Beanie baby,app development bubbles all grow and collapse.

I know that almost nothing stays relevant in the long run. The top 500 biggest corporations in the world right now only 5% of them existed when I was born. Of the top 500 companies when I was born 90% are bankrupt now.

If you don't think bitcoin will fall within 1 or 2 decades then you are just too young to know how rapidly the world changes around you all the time.

[Anonymous No.4138721]

>>4138676
what we are witnessing is the shift from the past to the future. google and amazon wont die. they are destroying everything else to pave the way.
crypto is part of that future. bitcoin may or may not be, but its the foundation.

[Anonymous No.4138723]

>>4138503

Genuine question, not insulting you: How old are you? I think your age is relevant to your perspective here.

[Anonymous No.4139300]

>>4138315
>Most likely never going to happen again.
why?
every parabolic mooning phase like the one we're in has been followed by a bear market that pulls back around 80% from ATH's to retest the high of the last parabolic mooning phase. the last true mooning phase was 2013 and that topped out at 1.2k. no reason we can't retest that level again.

[Anonymous No.4139376]

>>4138721
Depends if they can survive quantum computing or not.

[Anonymous No.4139834]

>>4139376
quantum will start to learn to walk in 10 years...we will be ok

[Anonymous No.4139880]

>>4137540
The best play is to sell BTC a few days before the fork. And I mean a few days, maybe even a week before the fork, because at some moment the sheep will realise what's coming upon them and sell into the fork. If everything goes smoothly, you buy back in.

[Anonymous No.4139999]

the real question is where new top will be before the crash, what are your bets gentlemen?

[Anonymous No.4140004]

WHEN WILL BTC FUCKING CORRECT

STOP MASSACRING MY ALTS

AAAAAAAAAAAAAAAAAAAAAAAA

FUCK I HATE BTC

[Anonymous No.4140009]

>>4139880
Exactly what I am thinking. Probably will sell some part to fiat and another part to ETH. If any signs of a bear, I might also sell the ETH.

...and wait for all of this to blow over.

[Anonymous No.4140116]

>>4140004
>he still doesn't understand alts are scams designed to steal your btc
Makes me happy to see you lose money.
The real competent people work for bitcoin. There is no way any alt is able to compete with bitcoin crazy developments.

[Anonymous No.4140139]

>>4140116
Ahh yes let's look at all of bitcoin's developments

I compiled a list:

[Anonymous No.4140155]

>>4140139
You forgot this:

[Anonymous No.4140160]

>>4138676
>If you don't think bitcoin will fall within 1 or 2 decades then you are just too young to know how rapidly the world changes around you all the time.
and in crypto time it's like 1-2 years max
buy honestly i think we are witnessing a climax this year, especially if it goes 10k

[Anonymous No.4140230]

>>4138287
only when the difficulty on bitcoin cash dropped

it became more profitable to mine it, so miners switched

then it increased, it became unprofitable to mine it, miners switched back

rinse and repeat

[Anonymous No.4140253]

>>4138626
So, name recognition. Network effect.

Hmmm, sounds almost like it has two of the most important factors going for it.

[Anonymous No.4140270]

>>4139999
$7000 easily, but maybe up to $9900 or whatever silly price people who want to sell at "10K" start putting up huge sell walls at

[Anonymous No.4140409]

>>4137636
>>4137540
Someone rational on biz, WTFgtfo you're not made for this place.

[Anonymous No.4140419]

>>4140230
The EDA fix will come 13th Nov already.

[Anonymous No.4140545]

>>4138721
>google and amazon wont die.
hahahehe
heck they might even fall by the hands of bitmain and alibaba