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The future of Crypto

momo3HC
Apr 05 2020 at 14:44
207 posts
togr posted:
momo3HC posted:
andrew_2 posted:
A little more then month ago around February 13-14 the price for 1btc was $10,000. Now the price $6,600 for one btc. Why is this happening? Well large Bit investors lowered the price to buy bitcoins at a low price and then again raise the price to 10-15k. Now it seems to me they are throwing away all the small traders who are withdrawing money in a panic.
But of course someone can hide behind the coronavirus pandemic. And say it influenced the market. Especially on btc price.

Cheers for this opinion mate. 😉 Let me tell you another rumor.
The second rumor which i`ve heard lately and it`s VERY interesting is that this dump was caused by the miners, big miners and they`ve used COVID19 as a look-alike trigger. In front of the halvening, big miners wanted to destruct small ones with sell off and that must be started from 15th of February. As you must know after the halving this May:
1. The production and the profitability of/from BTC will be cut in half.
2. The expenses to mine will stay the same or even bigger if there`s inflation.
3. The miners will be the same number as now.
And from 1,2 and 3 is popping a problem – competition.
How the big miners can destruct the competition of small ones and get them out of business before the halvening? Easy. With big sell offs, pushing the price down and down till the small ones become unprofitable and capitulate.
Like I said this is just a rumor but it`s very interesting one and may be the latest hashrate is kind of evidence for this theory (about 30% decrease from the latest ATH).

2. The expenses to mine will stay the same or even bigger if there`s inflation
 is not true https://www.theblockcrypto.com/linked/59972/bitcoins-mining-difficulty-sees-the-second-largest-drop-in-history

Do you make difference between hashrate and expences?

benschmidt
Apr 06 2020 at 00:39
4 posts
The recent rise in BTC following the outbreak of coronavirus has confirmed belief that BTC is digital gold. There will be a rush to BTC next time there are any economic jitters. I will be buying dips from now on

Luka (Luka776655)
Apr 06 2020 at 06:57
3 posts
I also think to buy bitcoin in failure. Because it seems to me like a man-made failure and even this incomprehensible coronovirus. somehow it's all suspicious.

sangine
Apr 06 2020 at 12:37
10 posts
benschmidt posted:
The recent rise in BTC following the outbreak of coronavirus has confirmed belief that BTC is digital gold. There will be a rush to BTC next time there are any economic jitters. I will be buying dips from now on


Bitcoin has fall from $8500 to $7000 over the last month. It has risen a bit in the last couple of weeks but BTC is clearly not digital gold

vontogr (togr)
Apr 07 2020 at 13:45
4862 posts
sangine posted:
benschmidt posted:
The recent rise in BTC following the outbreak of coronavirus has confirmed belief that BTC is digital gold. There will be a rush to BTC next time there are any economic jitters. I will be buying dips from now on


Bitcoin has fall from $8500 to $7000 over the last month. It has risen a bit in the last couple of weeks but BTC is clearly not digital gold

Really?
Have you seen real Gold movements?
Gold had fallen from 1680 to 1480 in 9 days.
That is actually 200/1680 = 12%. So almost 1.5% a day.

Laige
Apr 07 2020 at 17:55
25 posts
Crypto does have a future but it will take some time before that happens. You have said that the problem are the traders which is a common thing even in forex only that forex is better than crypto. Crypto happens to have few miners because the whole mining process is not that welcoming to some.

Cegar (Cegar)
Apr 07 2020 at 18:47
21 posts
I do not think that crypto has a very good future. The miners are jsut not in good terms with it as you have said that the problem is the miners. Why are the miners a problem in cryoto but not in forex. There is obviously something that is up with crypto and everyone knows it but will not talk about it.

eastcoastawoke
Apr 08 2020 at 11:31
7 posts
Cegar posted:
I do not think that crypto has a very good future. The miners are jsut not in good terms with it as you have said that the problem is the miners. Why are the miners a problem in cryoto but not in forex. There is obviously something that is up with crypto and everyone knows it but will not talk about it.


Can you elaborate on this. What is the problem with the miners?

vontogr (togr)
Apr 09 2020 at 13:16
4862 posts
Cegar posted:
I do not think that crypto has a very good future. The miners are jsut not in good terms with it as you have said that the problem is the miners. Why are the miners a problem in cryoto but not in forex. There is obviously something that is up with crypto and everyone knows it but will not talk about it.


Why are the miners a problem in cryoto but not in forex. - OMG
Crypto - BTC coins and other are mined by miners. That's why crypto is tight to miners havilly.
Forex - the currencies are not mined. There are no miners. Pairs are though affected by economy and political events and much more.

vontogr (togr)
May 07 2020 at 13:57
4862 posts
So there is halving coming and BTCUSD is going over 10,000
What will be after that?
BOOM or DOOM?

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