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-   -   News Bitcoin loses $2 Billion in Market Cap due to forking; Ethereum capitalizes on Bitcoin?s Loss (https://gfy.com/showthread.php?t=1252711)

armysmoke 03-18-2017 03:46 PM
Bitcoin loses $2 Billion in Market Cap due to forking; Ethereum capitalizes on Bitcoin?s Loss
 
Looks like bitcoin went from 1,200 to $1,100 in three days. Not sure if this is normal for bitcoin.

Quote:
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 03-18-2017 03:48 PM
Perfectly normal. Carry on.

Paul&John 03-18-2017 03:51 PM
Perfectly normal, after I buy lol

mce 03-18-2017 03:51 PM
http://i.imgur.com/NQsYJiU.jpg

Joshua G 03-18-2017 03:52 PM
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!

http://files.ctctcdn.com/a077a1ba001...e6683cfa7d.gif

:1orglaugh

armysmoke 03-18-2017 03:56 PM
I did not realize that Bitcoin was so volatile in trading.

CPA-Rush 03-18-2017 03:57 PM
few confirmations take many hours from me now .

in past i was spending my bitcoins within 20 minutes .

NatalieK 03-18-2017 03:59 PM
Quote:
Originally Posted by armysmoke (Post 21637102)
Looks like bitcoin went from 1,200 to $1,100 in three days. Not sure if this is normal for bitcoin.
itīs about $850 atm, but itīs pretty normal to rise and fall, look at Christmas, it dropped right out to 700 from 1000...

2MuchMark 03-18-2017 04:10 PM
At $947.14 and falling...

Bladewire 03-18-2017 04:22 PM



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 03-18-2017 04:25 PM
Hope you put some btc into ethereum like I pointed out a couple of days ago.

mce 03-18-2017 04:29 PM
Let's hope it drops to 600 for some quick gains!

MrMaxwell 03-18-2017 11:31 PM
You would think some people could make a fortune flipping BTC all day

Lace 03-19-2017 10:31 AM
Quote:
Originally Posted by MrMaxwell (Post 21637777)
You would think some people could make a fortune flipping BTC all day
Some do!

jscott 03-19-2017 10:36 AM
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 03-19-2017 10:41 AM
Quote:
Originally Posted by jscott (Post 21638695)
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. :winkwink:

Barry-xlovecam 03-19-2017 11:19 AM
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 03-19-2017 11:46 AM
Quote:
Originally Posted by Barry-xlovecam (Post 21638797)
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 03-19-2017 01:20 PM
its normal to people lose all they have

jscott 03-19-2017 01:38 PM
Quote:
Originally Posted by seeandsee (Post 21639049)
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 03-19-2017 01:48 PM
Quote:
Originally Posted by ruff (Post 21638869)
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 03-19-2017 05:09 PM
Quote:
Originally Posted by Barry-xlovecam (Post 21639172)
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 03-22-2017 06:10 AM
It is normal practice ...


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