Bitcoin became surreal It has no vision. No useful goals. Just an object of wild speculations.
This cannot end good.
A purely speculative asset just for making money... HODLers of Bitcin are most impressive representative of this they do not care...
Just like old people holding their assets under the mattress instead of investing, the bitcoin hodlers doing nothing even investment into crypto currency world that practically guarantees that bitcoin can exist and has worth, stoped.
If somebody with big amout of bitcoins decides to invest into something #hodlers starting a shitstorm, because this cocky shitless pensioners simply scared that there will be something better.
There are 30 million bitcoin accounts.
Assuming these are 30 million real people #hodlers with own asset, they call it "New money" that currently ca $300 Billion worth.
MALAYSIA also has 30m population and 300b GDP. What will happen if MYRUSD Malaysian Ringgit go up and then lose 50% in one day?
This could NOT and will NOT hodl for a long, there will be a correcton A BIG correction and seems earlier as I tought.
Christmas for bitcoin hodlers would be nor merry but SCARY...
Looks Still comfortably in the parabolic channel to me ?
viparmenia
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@Jay_c, for reaching 30 000 it is, but as high it will go as hard will be the correction.
I would prefer to be wrong and BTC hold the line and at least stay where it is, but seems the pump of bubble continues with market manipulatons.
For a moment the Bithumb exchange is down, so BTC for almost $2 billion are out of game already 3 hours.
Judas_Goldrich
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decentralization of money/store of value. that's worth nothing, right? Imagine an internet where no one needs to give a MAJOR pie of the value of his online data to a third party!? doesn't that count as a vision? bitcoin and blockchain tech as a whole will make the internet the true decentralized thing it should have been since it started to exist.
viparmenia
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@Judas_Goldrich, which decentralization, that 1% of addresses own 90% of coins and most of this addresses are owned by exchanges and speculators?
Decentralization that except big pools nobody else have chance to mine a bitcoin block?
Check the facts - most of the visions for what the bitcoin was made are given up...
Judas_Goldrich
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@viparmenia, its the same situation with fiat money and gold where most of it lies on banks. most of the value of gold is created through people speculating on it that it will hold its value because of its rarity. without that, gold would be worth like 10% of its current value.
only because people chose to speculate on bitcoin and store it centralized doesn't mean the underlying system isn't decentralized.
big pools have to serve the nodes and economic majority like the past has proven several times. they failed to push segwit2x even though they tried pretty hard. and that fact that hardened bitcoins decentralizations even more. it's also a matter of time that mining will be redecentralized a lot as more competitors are entering the game and Moores law applying to ASIC chips is slowing down a lot as well at the moment.
you still don't have to be a miner to be part of bitcoin.
they aren't given up. layer 2 instant transactions are just a few months away development wise. the blockchain is unstoppable, more devs are entering the game like every day, the total opposite is the case.
it's about the network effect of all coins working together. if only 1% of them will succeed realizing the vision of a new decentralized smart economy that will include the internet of things, that's easily more than enough.
viparmenia
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@Judas_Goldrich, fails of improvements like segwit2x shows that it is still an "old" cocky asset for speculations and scares to lose if you tough it.
Even all your arguments sounds resonable, it means one - you have no chance to make the bitcoin that what for it was made - low fees, decentralized and fast money.
Judas_Goldrich
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segwit got activated. what is this 2x? sounds like the retarded brother of segwit.
viparmenia
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@Judas_Goldrich, segwit was half of story segwi 2x must increase the locks twice but got canceled check hashtag #no2x