Don't read this if you're a little shaky hands pussy. Let's make a doomsday scenario of all the bullshit that's on the horizon.
1) China. Looks as if exchanges might go down for good and chinks will be removed from the market. BCC closure already had a significant impact on the market. Mining and the future of the network is under a big question mark once China goes out of the picture.
2) North Korea. Talks of Bitcoin funding NK, America's current #1 enemy and target and China's little lapdog, who gives them huge leverage in Asia. Calls for regulation soon?
3) Bubble top signs. Bitcoin packages, crypto niggers, third worlders, Facebook groups and other get rich quick normies entering en masse. Media calling bubble non-stop. We are already going down, but this may reverse quite easily. Maybe?
4) Tether scam. Reportedly up to 400 million unbacked dollars have been pumped into the coin market, significantly heating it up. This is CIA, FBI and lifetime prison term stuff - let's see where it goes. To me, 400 million looks insignificant in comparison to crypto market cap.
5) FUD by experts. Vitalik FUDed ETH already, saying most ICOs are a scam and ETH should be valued at 15 dollars a piece. JP Morgan CEO went full FUD and called Bitcoin and crypto tulips for the whole world to hear.
6) Aging technology. Still no solution to essential problems with the Blockchain. No scaling, no mainstream, no speed or significantly lower fees. Essentially we have accepted the fact Bitcoin is a "store of value" and nothing more even when there's a lot more priced in.
Eli Mitchell
Btc 2k EOTY
Jose Jackson
Also when the chinks go, theoretically a shitload of BTC should enter the market and a shitload of demand should go away which could drop the price, harm the network and pop the bubble all at once, but that is, if they do intend to ban it.
Ayden Moore
More like end of the week lol
Ryder Williams
2k EOTY? More like end of the month...
If it breaks 2k on the down trend then it's going to crater and really fucking fast. Big buyers got into the market to fleece the little guys and now they're selling and fucking fast. r/bitcoin and your small wallet providers cannot support 40bn of market cap. This shit is going to fail fucking hard....
Christopher Wilson
If it does go down a lot I think we're at least due for a "return to normal" before because there are a lot of people looking to get in for cheap. This is why I listed the potential problems, because literally any of the first 4 could fuck up the whole market for years, any time.
Anthony Peterson
7) Entropic decay: due to entropy bittcoins will eventually disappear once stored in a hard drive for more than 5 years 8) limited number of private addresses, I could guess numbers and steal people's btc, this is a fundamental flaw in its design
John Hill
Technicalities are a concern in the long term. I was worried about the scalability when I threw my money at BTC in 2013, but literally no one cared then and no one cares now. Probably because no one has created a more efficient design than Bitcoin.
The entropic decay is definitely a factor, but in my head it would only make the remaining coins more expensive.
Aiden Robinson
How much does bitcoin cash solve the blockchain problems? Will that ever be used as a currency?
Cameron Hall
I'm not entirely familiar with the discussion, but here's what I know.
BTC has Segwit, BCH does not. BCH has an 8x bigger block size.
What this does is BCH suffers in security and decentralization and wins in speed and fees. BCH can do something like 30 tps and BTC like 10 tps. Both are still pieces of shit compared to something like Visa, which can do 15,000 with their centralized setup and without any node worries.
