Will bitcoin return to -$500? I want to buy in but dont know shit about bitcoin

VisualMaster
VisualMaster

Will bitcoin return to -$500? I want to buy in but dont know shit about bitcoin.

eGremlin
eGremlin

Nope, too many people watch bitcoin thesedays, anytime it dips even slightly there are buying frenzies. Their could be another crash in ancouple of years though, but I doibt bitcoin will survive it if it does.

All the big money has already been made from bitcoin, if you're not in yet its too late

Sir_Gallonhead
Sir_Gallonhead

Bitcoin Unlimited fags are threatening to split the coin claiming they have support from the chink miners. Some users want to change the PoW algorithm away from sha-256 to screw the gook miners. Some want to add segwit/lightning network to bitcoin, and some want to keep it the same.
If these politics boil over there could be a chance to get bitcoin cheap.

RumChicken
RumChicken

anyone else remember not buying in when they were 80 dollars?

Fried_Sushi
Fried_Sushi

Some want to add segwit/lightning network to bitcoin
I thought community was postponing forks to see how those two implemented

Garbage Can Lid
Garbage Can Lid

Bitcoin Unlimited fags are threatening to split the coin
They only have to threaten that because it's the only way left of increasing the blocksize and scaling bitcoin. It's the best thing that could happen to BTC. I imagine right after a fork the price would go down (perfect time to buy) but as soon as people realise the majority is behind one of the forks we'll go to the moon because we're not limited by blocksize any more and transactions can go through properly.

Garbage Can Lid
Garbage Can Lid

When the block reward runs out fees will be the only incentive left for miners to secure the network. With an unlimited block size there won't be the fee market to support that.

The reason monero can have a variable blocksize is because there is a tail emission that continues in perpetuity.

Block rewards are for security, fees are for bandwidth. Bitcoin cannot fix this problem since the emission schedule is something that can't be changed (technically it can be but realistically there is no way).

So unless you want Bitcoin to die from lack of security, you are stuck with a limited blocksize. Scaling is still possible of chain of course. Without a dynamic blocksize though movement between sidechains will be severely restricted.

takes2long
takes2long

Bitcoin Unlimited fags are threatening to split the coin claiming they have support from the chink miners.

How will splitting affect me as a normal, regular user? What do I have to be aware of?

Soft_member
Soft_member

Do you run a Bitcoin Wallet yourself? (Bitcoin Qt for instance) then you are contributing to the system because that wallet is at the same time a full node. (Remember how it's always catching up with the blockchain if you leave it off for a while?). Now that node can be used to support whichever version of Bitcoin you like.

If you only use online wallets you are essentially being governed by whatever that online wallet website owner wishes.

Google for advantages/benefits of running a full node.

Fried_Sushi
Fried_Sushi

Mofo I remember being in highschool when they were $5 and begging my parents for money. Bitches told me no that's dumb you don't understand finance. By the time I had my own money it was over $100 and I was too financially unstable to afford it. God damn it parents. That could've been my college fund

BinaryMan
BinaryMan

college fund? what a fucking retarded use of the money. you could have bought a fucking mansion with that.

5mileys
5mileys

With an unlimited block size there won't be the fee market to support that.
That's true, but the blocksize won't be unlimited with BU. It will increase when needed, but obviously each block has to be mined at some point, and thus has to have a fixed maximum size at the time. All BU is doing is allowing this to be larger than 1MB.

With more transactions in a block, there will be more fees in the block for the miner, thus keeping incentive to keep mining and keep the blockchain secure.

Deadlyinx
Deadlyinx

Coinbase was the only bitcoin unlimited advocate, and they started backing segwit now.

Nojokur
Nojokur

he fell for the BUcoin meme

Firespawn
Firespawn

Frankly I don't give a shit about BU. All I want is blocks bigger than 1MB, but getting rid of the hardcoded value seems smart anyway so we can let the market decide when it should increase. BU offers a solution to that, and currently it seems like the only solution with any chance of happening.

I'd happily support other solutions too, but taking transactions off-chain isn't the way to go in my opinion.

haveahappyday
haveahappyday

I remember when you could mine like 1BTC+ a day on an average PC, and not bothering with it because I though it was just a meme.

PurpleCharger
PurpleCharger

Buy low sell high.

If you haven't grasped this you best stay far away from trading.

CodeBuns
CodeBuns

I bough 300 at $48 - Sold at $1212

haha

It'll never happen again, all the new currencies are just pump and dumps.

New_Cliche
New_Cliche

Off chain transactions is the only way to go. Having said that the blocksize does need to be adaptable but you also need a perpetual block reward for that.

Harmless_Venom
Harmless_Venom

Except it has happened, multiple times...

Albeit the margin gets smaller every time, but still large enough to have made decent profits

girlDog
girlDog

At some point prices just might be referenced by the satoshi since you can trade down to denominations of 0.00000001.

Disable AdBlock to view this page

Disable AdBlock to view this page

Confirm your age

This website may contain content of an adult nature. If you are under the age of 18, if such content offends you or if it is illegal to view such content in your community, please EXIT.

Enter Exit

About Privacy

We use cookies to personalize content and ads, to provide social media features and to analyze our traffic. We also share information about your use of our site with our advertising and analytics partners.

Accept Exit