This is how Bitcoin dies

These dubs confirm op is full of shit. 50k by end of the year

OP is obviously new and i don't feel like wasting hours talking to a brick wall with massive Dunning Kruger effect going on.

basically, op is a faggot.

>miners increase fees
>which means even less people are incentivized to use it

Are you stupid or what?

So my ETH will flip with BTC? That would be fucking great I am holding 40 ETH as a hedge and can't wait to retire soon

Called it.

Keep this in mind objective investors. No legitimate counterarguments or evidence, just "OP is a faggot".

>no dubs
Try harded i really wanna buy back

It hasn't mattered so far. My point is it's not gonna cause a sudden sell pressure, BTC will rather just keep bleeding.

I've been saying this for ages: BCH with 32MB blocks is X32 more energy efficient.

Oh look another guy on Veeky Forums thinks hes a prophet again. Move on nothing to see

listen faggot, this shit is not new and has been beaten to death for years...
you are a literal faggot.

Difficulty of hash is adjusted according to network's computing power.

No shit sherlock. Try reading the post again.

Hear me out you peace of shit you are not an special snowflake everyone has gone through those thoughts we have discussed it 8880292382 times on biz in the meanwhile btc keeps growing and and nobody really gives a shit anymore that is 2014 fud tier , what are you going to say next quantum computer will be the end of cryptos ? Because we've through that too

Pd you are a FAGGOT

>keeps growing
>34% dominance

tell me more

Boomer detected tldr where’s the shill op where’s the FUD if you’re gonnna shitpost better have meme images not PowerPoint slides you stole from Stacy’s presentation on buttcorn

I think this board is filled with average IQ 15 year olds. Crypto used to be filled with smart guys interested in the math and the tech. Now it's a get rich quick scheme, that's why they don't like any criticism

Guess what markets don’t operate according to blocks of text but they do operate to shitty ms paint photoshops of the CEO’s head plastered onto Eminem with accompanying badly revised song lyrics

The purists are filling up this thread, exactly as predicted. Those of you who are objective, take heed.

Then we really should ask core if we can softfork to a POS algorithm without miner ;)

and every problem is solved

BCH, user

The faggots OP, not the purists. Learn the edgy cool kid le Veeky Forums culture lingo or to Reddit you return

Then we really should ask core if we can softfork to a POS algorithm without miner ;)

and every problem is solved

Coin that is staked, has no bottom !

Coin that is mined, has a bottom !

When is this expected to happen and does it make more sense to go ETH, BCH or USD?

>t. millennial

BULL SHIT FUDDER

REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

LTC user, if BTC fails ETH will be #1 XRP #2 and LTC #3

BCH is slowly dien already, value didnt moved since October - during the biggest pumps we have seen since 2years

No true Scotsman. Kind of lame OP.

I think you should take into account that processing power speed and power doubles every two years.

The normies will leave when world governments band together and shut down all exchanges and make crypto trading "illegal".

This will cause a market crash of epic proportions. Maybe we will still rise from the ashes

It's not. Chink miners have already started to leave the country.

>what is expected to happen

Bitcoin will die. BCH is just a "smarter" version of BTC. It will still suffer the same issues of BTC in the future. As will ETH.

POW has no future. The power requirements become absolutely enormous and unprofitable. It's end-game for all POW coins.

This...they've already set up in Norway, Netherlands, Greenland. Places where energy is way cheap compared to the rest of the world.

But OP has a point. Miners are going to mine whatever coin is most profitable for them.

>china
>communist
Lol stopped reading there.

you can softfork every pow coin to like a POS coin.

so no pow coin will die otherwise we just change the algo and thats it.

They won't make it illegal. Too much money to be had and (((they))) already have started investing in it.
zazzle.com/dragonchain

It will be regulated to hell and the barrier to entry made almost impossible.

At worst this scenario is intriguing and at best you just gave me another reason to feel great about the future of ETH OP . muchas gracias

Energy is excessively cheap in China. Google it. Moving to another country only INCREASES cost. Which means the value of BTC must held higher to remain profitable.

But you all seem to forget - it's Wall St's game now. You wanted institutional money? You got it. Bitcoin is now another plaything for them.

At the very least ETH has a better shot at being the long run top dog than BTC does.

>in the news today

world's dumbest cunt posts on Veeky Forums

I see you conveniently skipped this If people gave a shit about slow or expensive transactions, BTC would have been dead for at least half a year. Instead of a sudden sell-off, slow&expensive transactions will just cause more people to go "fuck this shit" and move to other coins and fiat, and some new dumb fucks will come and replace them, but at a decreasing rate. This results in slow bleed, not some sudden epic crash.

You've talked about ETH and BTC. What do you think of Ripple?

I consider this a possibility. I've thought about it a lot, and I keep doubting my stance no matter what it is.

At the moment, I lean towards this being unlikely.
I don't believe that the miners would execute this flippening (even though they can, and may even be planning to do so). I don't think they will do it because at this time, if they do that, bitcoins death will mean the death of crypto markets in general in the short term. In a few years, as cryptos become decoupled, and much more widely accepted, this becomes more likely I think.

I'd say Bitcoin is defintely as safe as any crypto currency this year, just not as profitable.

GLTA

It will hit an equalibrium my dude

I meant BCH instead of BTC

how could china "shut down" bitcoin mining? how can it be policed?

So what I read is "Go long on ETH"

Gotcha.

Please tell me you're joking.

>r/bitcoin

5 here am I misunderstanding how mining works? I was under the impression that Bitcoin automatically adjusted the difficulty of mining to match the networks mining power.

Communist countries obviously hate a libertarian wet dream like crypto but even if China knocks the processing power to 1/5th of what it was can't the formula just ease the difficulty of finding blocks accordingly because if they can that makes Bitcoin mining significantly more profitable for all remaining miners since the same number of transactions will still be needed. Also if the difficulty can't be lowered then why would this lower the profits for remaining miners don't the rate they add to the blockchain remains the same and their blocks are now in higher demand meaning their fees can be raised if anything shouldn't they make more money?

I can see how transactions could be slowed by the death of Chinese mining and maybe that causes less people to use Bitcoin causing a death spiral but in short term wouldn't it be more profitable for the remaining miners?

Join Discord server
rD6XdKq

Objective stock market vet here.
Confirmation bias is the no1 enemy of investors.
I made money on WS with braindead normie investors for years, mr market isn't even half as smart as many people think.
Newer to crypto but can't be that different, probably worse.
btc is a meme and you are right. I think it will trend back to 15k (if at all) again just to be shortsold again.
It is poised to fall, it has less of a future each day.
The more people understand about bitcoin the more they must see it's a meme if they are not category 1/2/3/5:
>decentralized
Who is Satoshi? Is he compromised, is he the chinese government in the end?
>Ebbil banks don't hold btc, we people do
Wrong. Drug dealers, human traffickers, weapon traffickers and the old elites evading taxes + China which bought into this many moons ago because stock markets had an investment crisis and people didn't know where to put all that cheap QE liquidity.
>btc will heal the world
btc is an ecological mess (see power consumption). If it was actually used by everybody it would probably consume 5x the power the earth can create just to ping pong some bits over the internet for horrendous fees via a congested network.

Reality is: If btc doesn't get cheaper it has no chance to survive.
Even digibyte is more effective in moving money from exchange to exchange.

Alt/Btc couplings are dying. As this market goes more mainstream we will soon see the crypto world re-valuated in USD and other major fiats. People are sick of being tied to something as volatile as BTC.

>This is how Bitcoin dies
Coordinated attack on the entirety of the internet architecture. Entire global network goes down for a few months.

Trans-oceanic cables are cut as an act of war or sabotage.

Tyrone breaks into the building that happens to house a central server for an exchange to try and steal the bitcoins and ends up slamming it against the floor trying to get the coins out.

>China is a COMMUNIST nation. Capitalism does not apply.
It's not communist. And capitalism doesn't apply to USA and let alone EU either.
All of them are mixed economies and nobody is hiding that.

Stopped reading after part one, cause if you can't get to the point in one post, then fuck you. Especially if you're bringing anything but the same old FUD.

The place where it's posted doesn't matter as long as it's the logical truth, brainlet. I literally just googled it

People like you are cancer. You very clearly don't know what you are talking about, but you go on like you do

why don't you tell us where he's wrong then, and why

slowly, but were not even close to being there yet. Binance is the n1 exchange and its mostly btc pairings. WIll take atleast a year or 2 I think.

Agreed...you haven't contributed anything to the thread except for personal attacks.

I think you're a little too old to be here.

i need an answer to this also

You may like me or not but as he said:
Why not refute what I just said?

>I was under the impression that Bitcoin automatically adjusted the difficulty of mining to match the networks mining power.

It is. But you see, a particular block has to be met BEFORE that difficulty adjusts. Currently it's a 2 week time period on BTC. If the mining power falls by half in the first week you'll never reach the readjustment.

So, buy bch and eth?

>China isn't communist

Get out you fucking idiot.

Yes, I'm serious, You're an absolute moron who doesn't know his ass from a hole in the ground. You're going to lose everything and you deserve it for being a massive fucking dumb shit.

kek probably this.So easy to spot?
I'm no dumb boomer investor though, I'm 35 and taught everything about stock market to myself for 4 long hard and paindful years. Then I milked dumb boomers.

OP is 100% correct. 2018 will be the death of BTC and the end of the second era of crypto. From the ashes we'll see the real long term giants arise in 2019 that will change the world for decades.

you faggots say shit like 2+2=64 like a million other retards, and expect people to not be ass holes and waste their fucking time explaining why you're wrong, well guess what - fuck you

what about litecoin? could it possibly suffer the same fate?

smart user is smart.

>t. triggered faggot who bought btc for 20k
What is wrong? Who owns most of the btc?
How much power will it consume once everybody uses it?
What is it's advantage towards other shitcoins except being there in the first place?
btc has a nice retroflair going, but that's about it.
You don't understand what happened, do you?
BTC is now controlled by the same elites and derivative pressure from fiat.
Why do you think BTC jumped up just to take a head-on dive after it could easily be shorted via futures?
This is the next big short, just keep hodling dumbo.

Litecoin is simply "bitcoin lite". It has the same flaws. In the short term out will probably outlast bitcoin, in the long term it will die the same death.

But it isn't a communist country. There is a Party that is named the Communist party but their ideology and motives are not. They are more of an Authoritarian Capitalist country now...you should dig a little deeper.

t. lived in Beijing for 5 years as a business liaison for the Swiss government.

This answers nothing, if 80% of the worlds strawberry producers suddenly stop producing the remaining 20% stand to profit even with no change to the rate at which strawberries can be produced because there is now far more demand for their product. The market may suffer as a whole but the remaining producers don't leave now that their primary competition is gone that's retarded, even if the price of strawberries was arbitrarily locked in place - which it isn't in this situation they would make the same amount of money.

The Bitcoin miners aren't paid equal to the production of the entire market they're paid equal to their own production right? So their production is still the exact same and in significantly higher demand I don't see why they would leave the market after a Chinese ban if anything it would make more sense to double down knowing that you're already making more money off higher transaction fees and once you reach the next block you'll have massively increased profits as well.

If i'm wrong about this please explain why instead of ignoring the actual issue in my comment.

the smart exchanges such as Binance are keen to work with the government or spread their infrastructure in different countries incl. crypto friendly ones like Japan.
The chances of all govs banning crypto exchanges are NULL.

why can't they just fork it with a new consensus algorithm?

>sees his first bit-coin pump and dump and thinks the world is over
You're so stupid I actually thought you were the OP kek.

If you think _this_ is what the elites have just done, then you might want to get the rope for next December oh boy

I bought at $200 but whatever fucking gekko lmfao. Why don't you google it faggot. Do you think you're really the first fucking guy to think of that?

We need bitcoin to die. It serves ZERO purpose other than something to value alts against. But OP you do have a great point, chain death is a possible, yet unlikely thing to happen. Grandpa needs to die a slow, painless death. He needs to watch his kids grow and pass on with a smile on his face. We’ll always remember him and his legacy will live on. No more suffering for grandpa, he’ll be in a better place with VHS, ask Jeeves, MySpace, and girls gone wild infomercials.

>another faggot who sold at the bottom and wants another crash really bad

>But it isn't a communist country

Ok, we're done. Absolutely 100% fucking done. There is no reasoning with idiots like you. I will not even bother to read the rest of your bullshit. If you are too stupid to realize that China is a communist nation you are literally not even worth the bandwidth it takes to type this text.

You literally don't understand how a blockchain works, do you? No, idiot, the rest of the miners do not become more profitable. If the difficulty never readjusts it becomes ever more difficult to mine.

Let me put it it simply: There are 4 trucks, each with a prerequisite destination and a 20,000 lb load.

3 trucks quit. Now 1 truck has to pull 80,000 lbs - which it is not capable of doing.

Do you get it yet?

It's funny when people like OP actually think that there are others that think BTC will stay around forever. I'm more pro-btc than most, but even I'm not that delusional.

MAYBE it somehow survives as a top10 coin or something like the legacy you're talking about, but it can't stay #1, there's just no reason for it.

here is my prediction from 24th of december.
Didi it for fun to prove I'm correct.
As a category 4 investor I know many people are smarter than me, probably not you though.

exactly this. In the best case it will slowly die off and alts will react less and less to it's decline.

>3 trucks quit. Now 1 truck has to pull 80,000 lbs - which it is not capable of doing.
Lol that's literally not how it works. If the hash rate halves, it will take twice the time to mine a block. It's not analogous to your example where it's impossible for the remaining truck to do anything.

So far, you're not worth listening to.

answer my question pajeets

Hi OP, just wanted to offer that your thread sucks. Ok see ya!

But it isn't communist you fucking tard. Do your own research.