The World of Cryptocurrency - End of Bitcoin?

elizahfhaye (68) in bitcoin • 7 years ago

Bitcoin surpassed $7700 on Wednesday but it didn't stay up there for very long and dropped almost immediately after reaching this level and today it continues to move lower. However despite losing nearly seven percent this week Bitcoin remains up more than 600% so far this year. As Bitcoin rapidly fell, Bitcoin cash enjoyed a surge and it gained more than 40% over the past few days. Bitcoin cash is a hard fork of Bitcoin that took place last August 2017.

There were rumors that the segwit 2X was taking place thats why bitcoin dropped in the market and some says segwit 2x was totally cancelled and others says it is totally normal. This is just a slight correction for a bubble. But whatever it is, one thing is sure - this is the exact time to buy bitcoin and take advantage of its low price. For sure, it will regained its ground and will start to skyrocket again this coming few days. 😄

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7 years ago by elizahfhaye (68)

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aishaali (53) · 7 years ago

Cool post. Thanks for advice. Already started buying bitcoin :)

elizahfhaye (68) · 7 years ago

its hightime to buy bitcoin due to its low price. :)

aishaali (53) · 7 years ago

What do you think for how many days bitcoin will stay down, before shooting up again ?

kennyroy (63) · 7 years ago

its getting down! good to buy! wait until becoming 3000 dollar LOL

elizahfhaye (68) · 7 years ago

i think it will not reach to $3000, but if it will reach to that point then its hightime to take advantage of that low price :)

fred777bear (62) · 7 years ago

The last couple of top then drops this year (china was last one) saw the dip reduce by approx 1/3 of the top.

(I watch in Aust dollars so translate to your local)
So on that basis maybe from a top of 9,900 down to 6,600'ish
then maybe back up?
But since bit cash has 'advantages' maybe the original is not the best?

Thats why the dotcom boom crash happened....no fundamentals, no basic 'values' ..... just hope, hype, expectations....enjoy the ride

elizahfhaye (68) · 7 years ago

This bitcoin dropped is our advantage in the sense that we can buy coins now and take advantage of its cheap price and wait for it to surge up again sooon.. :)

fred777bear (62) · 7 years ago

the question is how low will it go?
but you are correct, invest what you can afford (to loose) :-)

elizahfhaye (68) · 7 years ago

"invest what you can afford (to loose)" - i like this idea :)

kamleshsingh (17) · 7 years ago

Bitcoin will see correction in coming days. Segwit 2x , Bicoin Cash were main reasons behind price drop. I feel that 1:1 ratio is not going to work. Institutional investors are still bullish in BTC & ETH. I suggest that its time to wait and watch & pick new when it dips more. All the best to the Cypto Community :)

elizahfhaye (68) · 7 years ago

i think after this btc drop, it will rise again surpassing its record high of $7.7k :)

jesusj1 (59) · 7 years ago

saludos excelente cuenta..

elizahfhaye (68) · 7 years ago

:)

richardlonghorn (30) · 7 years ago

I agree it will go back up eventually; however, I don't believe its done dropping yet. Historically bitcoin downtrends last more than a day or two, what is your take on this downturn that you believe it will be short-lived? How do you think the drop in bitcoin will affect smaller altcoins? Would you be investing in altcoins now as well?

elizahfhaye (68) · 7 years ago

Currently, im buying bitcoin now but i do invest also in ICO's - it somehow gives us huge profit if we hit the right coin. :)

Just do enough research before investing in ICO's

richardlonghorn (30) · 7 years ago

Ya with smaller amounts of capital there is definitely more room for advancement with ICOs, perhaps also a higher risk. Thanks for the response.

elizahfhaye (68) · 7 years ago

Just invest on what you can afford to lose 😄

welcometonepal (60) · 7 years ago

Why is the value of bitcoin falling down ? Due to excess supply, I guess

elizahfhaye (68) · 7 years ago

Not likely, i think its a correction of bubble.

welcometonepal (60) · 7 years ago

Any guesses when will the market go up ?

elizahfhaye (68) · 7 years ago

Bitcoin is now starting to go up and few days from now it will skyrocket maybe surpassing its record last week - hopefully 😄

universalsoldier (34) · 7 years ago

bitcoin cash is faster and lower commissions per transaction, this will make bitcoin a dinosaur. thanks for the info

dandays (67) · 7 years ago

Fast and affordable like Litecoin? Like Dash? They didn’t make Bitcoin a dinosaur. They’re excellent altcoins though. Congratulations to all the successful altcoins.... such as cash.

universalsoldier (34) · 7 years ago

What is happening? currently bitcoin is limited in the number of transactions it can process today, it can only process up to 1 MB approximately every 10 minutes.

Due to this limit and the exponential increase of users of the bitcoin network, the transactions take longer to be approved by the miners and during times of congestion it takes up to days.

something that is not functional for the common market, that is, a merchant can not wait days for a coffee rate to be canceled.

As all users pay a fee to miners to make transactions, this limitation in the space of the bitcoin network has increased the average costs of the fees. forcing users to cancel higher fees.

elizahfhaye (68) · 7 years ago

Thats why they introduced segwit 2x to make the block bigger size from 1mb to 2mb and the processing timw will be faster and avoid those slow confirmations. But in the other side of the coin thwre also some disadvantages of this fork thats why it was cancelled.

dandays (67) · 7 years ago

repeat: they’re excellent altcoins

universalsoldier (34) · 7 years ago

If I agree with excellent altcoins ... there must be a bitcoin update, because at this moment it is not functional for the market, it only serves to invest in the long term is digital gold. besides the mining at this moment I stop being of the community and it has become centralized in a few companies with a lot of money, due to the cost of the mining equipment. is very far from the initial idea of Satoshi Nakamoto. which was for the community and decentralized.

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dandays (67) · 7 years ago (edited)

I didn’t realize I had a one on one with a Core team member in progress. How many Altcoins are there now, like 1,300’ish? Bitcoin IS the bargaining chip (coin), no? And people are still going peer to peer with countless altcoins such as LTC and DCR. It just seems to me your ‘dinasour’ reference was a bit much. What’s next, the earth isn’t round?
Tip (just the tip): promote Bitcoin, don’t hate it.

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universalsoldier (34) · 7 years ago

I do not hate bitcoin, on the contrary it seems a great advance against the monopoly of the banks, and the state.

I'm just saying that this time is not ready for the market, because it has very high fees, and it takes a long time to confirm.

Tell me something ... blackberry was very successful a few years ago, it was number 1, and tell me who remembers blackberry today when there is samsumg?

tell me who remembers netscape when there is google crhome or firefox?

what I want to say is that if bitcoin is not updated soon in lower fees and shorter confirmation times it will soon be a dinosaur.

because you can not pay a fee of 0.00090000 satochis for paying a cup of coffee, it is not profitable.

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dandays (67) · 7 years ago

That dinosaur comment is what started this whole rendezvous. It’s been fun though, thank you! I’m with you about blackberry and the other products you mention going obsolete. Shoooooot, I’ve been a proud owner of Beta Videos and tossed em out when VHS came around. Remember those? Only to toss the VHS for DVD’s. DVD’s went obsolete when Netflix came around and now here we are, streaming anything we want. Technologies are always competing for that #2 spot. #1 is and will be BTC, I’m not worried about scaling issues, Core seems to be doing everything just fine, proof is in the price.

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Show 1 more reply

myeasin (57) · 7 years ago

Bitcoin getting down but why i know that @elizahfhaye

elizahfhaye (68) · 7 years ago (edited)

do you know the exact reason why it goes down bro? I searched for reasons why it goes down that fast and i just found many speculations.

myeasin (57) · 7 years ago

Thanks For Reply

singhrajat (66) · 7 years ago

I feel exactly the same way about bitcoin ☺

elizahfhaye (68) · 7 years ago

:)

swin (36) · 7 years ago

it will rise again soon.

elizahfhaye (68) · 7 years ago

surely it will gain its ground and soar high again, sooon..

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emonnaim01 (44) · 7 years ago

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pinay (55) · 7 years ago

I loved Bitcoin because sending/receiving funds is cheaper and faster than bank wires but I am not happy with the recent change... blockchain fees at coins.ph increased just like xapo. Maybe same with Coinbase.

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buildawhale (74) · 7 years ago

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booster (68) · 7 years ago

This post has received a 10.22 % upvote from @booster thanks to: @elizahfhaye.

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orlendgreat (48) · 7 years ago

That's not true!

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molfzart92 (34) · 7 years ago

Damn right! Well said, it's load up time!!!!

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kaleem345 (60) · 7 years ago

Nice post friend keep it up..

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khurshid (57) · 7 years ago

great post

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bobinson (63) · 7 years ago

did you see this ?

https://pastebin.com/n0aGBMQr

looks like there is more ? ;-)

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