Is anyone else starting to become a bit worried? mod note in first post

Shauny2010 wrote: »

I think that while the energy consumption of PoW is alarming, it now has a similar feeling to the past problem with Bitcoins blockchain size. At the time it was thought that the blockchain would get too big and would eventually cause the collapse of Bitcoin. As it turned out it was not an issue.

It's quite possible - no detractor will entertain the idea for one second that there's value in one Blockchain project let alone consider a totally immutable ledger like BTC..as that's the trade off. Interestingly Antonopoulos suggests that we need one but can only afford one immutable ledger. Im undecided at the minute but it's not such an outlandish idea per se.

Shauny2010 wrote: »

I Pow miners will find the most efficient and cost effective way. Just look at all the green energy in use. Its in a miners interest to be cost effective.

Sounds logical to me. It will come from both miners and developers - due to the need to stay relevant.

Shauny2010 wrote: »

Its not Bitcoin anymore, the current Bitcoin is something else which looks like it will eventually be surpassed

I was blinded to it at the time of the fork but it seems clear to me that Blockstream want to take the project to store of value and go up against gold in the longer game. That wasn't what i bought into with BTC 5 years ago. It will probably maintain some relevance going forward.

Finally panning out and looking at other projects has been cathartic. Sure, there's plenty of rubbish but there is no doubt that real tangible projects will emerge.

Pintman Paddy Losty wrote: »

I just want to publicly apologise to those who signed up to my PPL crypto price prediction Pm service. I have been badly wrong in my price predictions over the last few weeks. Even I didn't expect the price to languish this low for so long. It really has been a bloodbath the last few weeks. Even the tether printing machine hasn't been able to prop up the price.

I will refund all who signed up for the service. I hope you didn't lose too much on my advice.

To paraphrase Dirty Harry, that’s mighty white of you.

Been a very difficult few weeks for investors. Tether appointed a new dude today to look after their money laundering requirements. Has the dudes on reddit very spooked.

Said this weeks ago when he offered his services.

All numbers and predictions are pulled right out of their ass

rapul wrote: »

Did people actually sign up? That's insane ,fool's

Of course nobody signed up. The man is a troll.

JohnnyFlash wrote: »

Just Paddy, or are all predictions just pulled out of ones ass? Some lads are big believers in technical analysis, while others think it’s a big dirty steaming pile of shït.
I think the entire price of Bitcoin (and all coins by extension) is now down to how Tether act. They rule the roost. The whole thing will collapse (bitcoin and alt coins) when they are raided. Bitfinex and Binance will collapse as a result.

The majority of predictions are ass pulled.
Some analysis works, but not to the extent that most people claim it does.

tether is but a drop in the ocean to the crypto market.

Yes, if it goes bang, sure, there will be a drop. But BTC won’t collapse. Crypto won’t collapse.

Supernintento Chalmers wrote: »

Well, actually I did and now have a new (to me) Audi TT as well as a pretty snazzy Belstaff leather jacket that I've had my eye on for a good while.

Good man yourself! Good to hear someone is making a few quid in the choppy waters of crypto these days. You must be raw from saw with that car and jacket combo.

Bob24 wrote: »

So bitcoin is surviving and there is a serious bloodbath going on accross the board in terms of altcoins ...

What do people thing is coming next?

Think we'll drop quite a bit more and BTC will possibly go sub $5,000 in the coming weeks.

Bob24 wrote: »

Yeah quite possibly. Wondering if it could be the beginning of the end for some altcoins and a consolidation towards bitcoin.

Perhaps, or a "dom.com crash" moment whereby some survive, many don't

Either way, the market is much lower than I thought it would be at this point, it's well beyond any sort of prediction.

I've been reading more and more that this is all due to certain regulators in America trying to crash the price banks can buy in lower.

Give it 30 days and you'll start seeing positive stuff about crypto that will bring a bull run

It's a Battle Royale and BTC will be the last man standing. :pac:

makeorbrake wrote: »

Week on week the old money is busy getting itself setup and in place. They'll want to shake out more amateurs first - so I expect it to go down below 5k but I wouldnt be bothered how far it goes down after that point. It's an ok buy at that to me.

The alts are a no brainer i.e. that they will hit the wall. There can only be handful of coins left - there's not room for them all. I doubt that they're getting killed off yet - they'll take a pounding though. The front runners have to start showing some real world adoption before they start to get killed off I would think.

The old money has been doing this since mid January according to everyone.
Its not that hard to invest in Crypto so I'm not sure what they are waiting for. Were basically saying institutional money is manipulating things but to do that they have to have already invested in Crypto.
I'd wager if we look back at the beginning of 2017 we would have seen an institutional money narrative to the explanations of peaks and troughs.


That being said I'm happy to get another crack at gaining some coins I've been interested in but at a much more reasonable price.

While not as obviously ridiculous as the Chinese New Year one, I’m not buying it either.

That maket manipulation exists in cryptos I definitely believe, but I haven’t seen any evidence that Wall Street bankers have ganged up to drive prices down.

sexmag wrote: »

While ALT coins are down BTCs dominance is up meaning even though the price of BTC is dropping people are buying it

Might mean people are holding their fund in BTC until this storm blows over and then move back to the surviving ALT coins

Just my view, but I’m not sure all that money is going back into altcoins.

For now the only practical use cryptos have been successful at is being a store of value (although not a stable one) and a speculative asset - I.e. “digital gold” even though I don’t think it is a perfect analogy as gold also has practical uses and is not completely virtual.

And while I see a space for a digital and decentralised asset doing that, the world doesn’t need tens or hundreds of them (I’m not even sure it needs more than one) - so one (or a few) of them has to become the king and conquer all the others, and while it could change obviously for now bitcoin is the best positioned to do that (IMO as long as it is good enough technology doesn’t matter too much, once a coin has the best established brand and has gained everyone’s trust as the king of digital assets, being slightly better from a technology standpoint won’t be enough to replace it). Hence why it makes sense to me for money to flow away from altcoins and into bitcoin (unless some altcoins can show other practical uses to justify their existence).