Can we actually have a thread about WHY Bitcoin has surged so much in the past 6 months and WHY it will crash/carry on...

>Could you explain how does Tether affect BTC?
Nope. Too tiresome to explain the same fucking think in every thread discussing Tether. Just search old Veeky Forums threads or lookup online.

Start at 06:00
youtube.com/watch?v=R3tV9JIJ6G4

*thing

It's a bubble. People see easy money and buy in, which raises the price and restarts the cycle. Here's what I think will happen:

1. Price continues to rise as more and more dumb money shows up
2. Price eventually plateaus as everyone who is willing to invest already has
3. Those who see the pleateau assume btc has hit peak and start cashing out
4. Everyone else sees it happening and starts trying to cash out as well
5. Price crashes

btc pumps and alts get fucked
btc crashes and alts get fucked

this should die once and for all, man

>t. phd in economics

>why bitcoin surged
big money, fucking mark cuban invested
>why it will crash
BTC money is made, they are seeking next coin, but none have BTC accessibility or trade via fiat
>why it will rise
it won't, normies currently getting fleeced. when big money had its fill, BTC plummets, [another] coin moons. rinse. repeat.

>my super special cryptocurrency that's backed by nothing and looks exactly like every other bubble in history won't crash because I say so

BACKED BY
>GAME THEORY
>MUH ELECTRICITY COST
>CABAL OF INSIDERS WHO HAVE EVOLVED INTO FULL BLOWN CULT MEMBERS
>NORTH KOREAN GOVERNMENT
>SATOSHI'S VISION
come at me, nocoiner faggot.

more buyers than sellers

Look at the macro trends brahs. ETH is the only serious challenge to the throne Bitcoin has had after 8 years in crypto.

June was the peak of the ETH / ICO hype. The hype has probably died down because in 6 months there are still no actual real life uses for these coins.

ETH hype widened awareness of crypto in general with institutional investors and business people thinking that blockchain could be the future in banking in other technologies but now it seems this is many years away

Bitcoin is returning to its normal 85-90% dominance.

I feel like everyone who says this shit has never read a legitimate mathematical whitepaper in their life. "Backed by nothing" yeah and solves the Byzantine General problem you fucking mental midget in generation 1. Fucking read faggot.

Oh yeah and Bcash with 7.5% is a fork of Bitcoin and part of Bitcoin's "gross market share" too. Once "the flippening" bullshit dies down Bcash will fade to obscurity and all that money will go back to Bitcoin.

Last 6 month shave been very bullish for Bitcoin, bad for Ether. What will happen in the next 6 months who knows but I think Bitcoin will consolidate.

>why it will crash
no transaction capacity
>why it will carry on rising
normies

>I don't have the skill or dedication to build an actual business so I spend all day trading vaporware tokens larping as the wolf of wall street

note how its market share only started dipping after the 1MB limit was reached. coincidence?

>muh tulip mania
Because tulips were a new, revolutionary technology. Oh wait, they weren't, and have been around for millenia.
I don't doubt a large correction is around the corner, something people will commit suicide over no doubt. But crypto is here to stay, and will behave unlike anything we've ever seen in a bubble before.

you guys realise this is all stupid subjectivity

"gone up so much"

"bubble"

literally not a single useful thought in this thread. btc is so expensive compared to what? Oh its "normie fomo" and your proof is friends talking about it?

there is some major underlying economics behind this that we are too stupid to understand or just cant tell without getting a ledger from all the major exchanges.

but we can get concepts and thats decentralises, global currency is worth a lot. i dont know why this money is pumping into btc since its a complete shitcoin but in total cryptocurrency is an industry worth trillions because it is absolutely possible to replace fiat with it

>he thinks it went 5x because of tether

>build an actual business
>trading vaporware tokens
pick 2, finance is a trillions dolalr business

Except it doesn't solve the two generals problem.

Crypto is here to stay, sure, but I don't think normies will adopt it. I think it'll stay relegated to drug and weapons dealers and normies will continue to use normal currencies like they always have. Bitcoin does nothing for them and they have no reason to adopt it.

1. currency becoming completely digital
2. losing faith in government
3. easier to avoid taxes on gains
4. harder to track transactions
5. easier to send anyone money
6. markets open all the time so prices move 5x faster than stocks
7. anyone in the world can buy it compared to age/legal/location restrictions for other things
8. potential for gains since it's still fairly new
9. limited supply / coins lost forever
10. sticking it to the Jew

Realest shit I've read this week

Bitfinex mods are the only peoples who know what will be the price of BTC in 2018 EOY

bitfinex ponzi scheme leading to millions being pumped into btc with no real value

That's me.

perhaps you should have boarded the ARK

Split up your time 50/50 and you'll get dunked by people that put 100 into either.

Has tether become a meme now?

>BTC goes up $100

TETHER IS BEING PUMPED BOYS!

It's not too late to start, brother. Stop hoping for an easy way out and accept the harshness of reality; it'll be what keeps everyone else out once you've set yourself to building something real.

This site not the place to read about it. There's a very good article on it, but I don't have the link. Here's one to get you started

medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330

Reason for surge: distrust in everything else (gov, central banks, wall street) vs maths instead of trust.

Bitcoin is the only IOU with
- so far recovered from multiple crashes and attacks like a chad
- a finite supply (no hyperinflation swallowing your earnings)
- tamper-proof permanent ledger
- sufficient decentralization
- detachment from untrusted parties (see above list)
- p2p electronic payments without reciting all your personal details EVERY FUCKING TIME
- no dumb transaction limits, even on millions of dollars
- no need for armies of lawyers and accountants and bank clerks and security do fucking send a few digits of money elsewhere
- best way for boomers to grow their money without doing anything (possibly by 1000% a year vs 1% or less).

Tether is tethered to USD more than USD is tethered to gold. If no one makes a bank run on tether, it doesn't matter. (Unless you're an exchange).

Tether couldnt pump bitcoin this hard...

Babo we miss u

> bitfinex uses tether for margin

Ok, but if tether bumps the price of btc on that exchange, then who the fuck would buy btc there?

> other exchanges see bitfinex btc most expensive - they go elsewhere
> users see bitfinex btc too expensive - they go elsewhere
> everyone tries to dump their btc on bitfinex for more eth than elsewhere