News Bitcoin loses $2 Billion in Market Cap due to forking; Ethereum capitalizes on Bitcoin?s Loss

[armysmoke]

Looks like bitcoin went from 1,200 to $1,100 in three days. Not sure if this is normal for bitcoin.

In the past three days, Bitcoin prices have plummeted from over $1,200 to $1,100 with clear signs of onset of bearish behavior owing to a strong fundamental factor. The market cap of the cryptocurrency dropped from over $20 Billion to $18 Billion in the past three days owing to the drastic fall in prices. While the market is in a strong uptrend on a long term time frame, this might very well be a major blow to the trend and might shadow the Bitcoin markets with bearishness. The influencing fundamental is the Bitcoin forking problem that has had negative impact on the prices in the past. Let?s dive deep into what exactly the problem and will forking really solve it:
The issue at hand:

During the processing of Bitcoin transactions, the processed transactions are stored in ?blocks? which is turned into a complex math problem. Bitcoin miners, owing to their high hashing power (processing power), calculate the solutions of these problems to determine if the transaction is possible. The solutions are then validated by the other minors and are added to the ledger as complete blocks. This would result in reward generation for miners. However, it has been observed recently that the number of outstanding transactions to be processed has been piling up and is defeating the purpose of the cryptocurrency which promises quick transactions.

The rest at https://bitcoinira.com/news/2017-03-...oins-loss-2826

[Smack dat]

Perfectly normal. Carry on.

[Paul&John]

Perfectly normal, after I buy lol

[mce]

[Joshua G]

yes. having the ecosystem overwhelmed by transactions is only music to ears of people that think it has unlimited upside.

but...just wait until the price drops 30% in an afternoon, & nobody can process a transaction.

1987!

[armysmoke]

I did not realize that Bitcoin was so volatile in trading.

[CPA-Rush]

few confirmations take many hours from me now .

in past i was spending my bitcoins within 20 minutes .

[NatalieK]

Originally Posted by armysmoke

Looks like bitcoin went from 1,200 to $1,100 in three days. Not sure if this is normal for bitcoin.

it´s about $850 atm, but it´s pretty normal to rise and fall, look at Christmas, it dropped right out to 700 from 1000...

[2MuchMark]

At $947.14 and falling...

[Bladewire]

Bitcoin exchanges announce contingency plan for hard fork split

Just two days after Gyft founder and Civic CEO Vinny Lingham?s warning about a Bitcoin hard fork devastating bitcoin?s value, 21 different Bitcoin exchanges have clarified their position on Bitcoin Unlimited (BU) trading. The exchange coalition stated in a hard fork contingency plan that they will trade any BU cryptocurrency as an altcoin alongside bitcoin, thwarting any plan for BU to replace Bitcoin.

[Smack dat]

Hope you put some btc into ethereum like I pointed out a couple of days ago.

[mce]

Let's hope it drops to 600 for some quick gains!

[MrMaxwell]

You would think some people could make a fortune flipping BTC all day

[Lace]

Originally Posted by MrMaxwell

You would think some people could make a fortune flipping BTC all day

Some do!

[jscott]

I have a system which seems to be making profit from it.

As long as have decent cash & BTC balance, can setup a system on exchanges to buy and sell at certain dips up/down

[Lace]

Originally Posted by jscott

I have a system which seems to be making profit from it.

As long as have decent cash & BTC balance, can setup a system on exchanges to buy and sell at certain dips up/down

Jscott! How's it going? Long time.

[Barry-xlovecam]

Yes, I am sure that the SEC decision not to allow the Bitcoin EFT to go ahead had absolutely nothing to do with the drop in the value of Bitcoin in the last few days.

[ruff]

Originally Posted by Barry-xlovecam

Yes, I am sure that the SEC decision not to allow the Bitcoin EFT to go ahead had absolutely nothing to do with the drop in the value of Bitcoin in the last few days.

It didn't. When the SEC shut down the EFT, price dropped but quickly rebounded since no one outside of the US cares.

The current flux is uncertainty on which way Bitcoin will fork and what will happen when it does. In my opinion Bitcoin Core is the clear winner. Similar to ETH and ETH Classic. Good time to buy right now. Money is in motion.

[seeandsee]

its normal to people lose all they have

[jscott]

Originally Posted by seeandsee

its normal to people lose all they have

Can you show us a current example of where a withdraw from Bitcoin to cash is not happening in an exchange today?

[Barry-xlovecam]

Originally Posted by ruff

It didn't. When the SEC shut down the EFT, price dropped but quickly rebounded since no one outside of the US cares.

The current flux is uncertainty on which way Bitcoin will fork and what will happen when it does. In my opinion Bitcoin Core is the clear winner. Similar to ETH and ETH Classic. Good time to buy right now. Money is in motion.

My money is short on tbills ATM TY.

I totally disagree with this fork nonsense. As this has been a factor that has been known for a long time.
Don't get so far lost in the forest that all you can see are the trees ...

[ruff]

Originally Posted by Barry-xlovecam

My money is short on tbills ATM TY.

I totally disagree with this fork nonsense. As this has been a factor that has been known for a long time.
Don't get so far lost in the forest that all you can see are the trees ...

I hope it doesn't fork, it would be problematic. I think the developers should just go ahead and activate SegWit immediately. This is the better solution to Bitcoin's blocksize issues plus it has been thoroughly tested. The vast majority of businesses, exchanges, and wallet platforms are already supporting SegWit and are SegWit-ready.

[Daniel BongaCash]

It is normal practice ...