# Bitcoin #

$1.9 billion dollars worth of bitcoin hitting the market soon!

I assume you're refering to this?

https://www.bloomberg.com/news/articles/2018-03-07/bitcoin-s-tokyo-whale...

Yes

Nobody knows exactly what they plan to do with the rest of their bitcoin but If they are selling to pay off their debts, then they are pretty much there, their debt was $416 million pretty much the same amount they have sold.

For big investors the money is really in trading, unless they need a huge amount of money at once, they can actually have their caked eat it too, trade huge amounts of Bitcoin and make big money and still have their Bitcoin at the end of the weeks to sell if needed.

Bitcoin does suck though, the crypto space would be so much more healthy if the market wasn't so reliant on bitcoin that has such a low supply and price can be manipulated so easily by big whales.

At some point in the future there will be a dominant crypto that takes over BTC hence we won't be as reliant on BTC volatility then.

Obvious candidate is Ethereaum already second in market cap can do everything Bitcoin can and more, moving from POW to POS so sustainable energy use wise, already used as a pairing on exchanges, favoured for ICO's, and has over 400 tokens that run on it's platform. even has a cool logo and a weird but smart spokesman.

Bring on the flipening

I'm not so sure ETH will be the takeover.....there's ALOT of very impressive coins bringing up the rear not too far behind.

With BTC now dropping below $9k, all eyes are on if she'll stop before the $6k floor of Feb now.

If ETH doesn't take over it's going to take a very long time for anything else to take over.

The real disadvantage ETH has it's circulating supply and total supply is just not low enough to sky rocket in price easily like Bitcoin which in a sense keeps it's price more stable which is a negative for those who trade, and the quick rise in price with Bitcoin is what fuels FOMO that helps fuel prices rises.

I think ETH can surpass BTC in Marketcap purely based on it's true value but not price(especially if we saw more people investing in true value and tech rather than just price speculation)

Personally i don't see a currency type coin as such doing it, no matter how fast or great it is in tech unless the price is relatively stable the coin is close to useless.

IMHO ETH has the only chance of any crypto currently, not because it's the best, but just because it's up there and has the value of all those tokens on it's platform plus it's a pairing on exchanges.

Only other scenario is a doomsday scenario where Bitcoin pretty much dies as do all cryptos then some rise from the ashes but none really dominate.

BTW. I don't currently own any ETH so I'm not being bias/one eyed.

I don't believe it will be that far away before a new player moves up the ranks into the top 2-3 coins. As I've always said, BTC will be the USD of crypto....but it will have very little real world use as a payment mechanism IMO. There's much much better cryptos out there than BTC for this.

Biggest question is can the market hang on again for what looks like another low point in the market in just over a month!!!

Cardano does it all, including being a currency and a platform. They expect to be number 1 before the year is out and it would not surprise me at all.
A month or two ago I was concerned about being too erc20 heavy in my portfolio so started asking around about how easy/possible it is for tokens to switch blockchains. Not many wanted to talk about it at the time but I have since found that there are quite a few erc20 tokens ready to jump to another blockchain if they decide that it would be better for them. Ethereum has the network effect and I think they have a good chance of being number 1 but if they slip up, especially with their scaling solutions they will be in trouble.
Don, are you saying that in a month there will be another low point or are you talking about this one?

Indo, there are a few payment based projects working on instant fiat conversion at the moment. That should take crypto volatility out of the equation for retailers and may well be the way things go in the shorter term.

Some bubbles go pop, others just hiss.

Topsy I was referring to this low point.

Good, thats a relief. I’m over low points

A hissing bubble? :)

As the air slowly escapes

NEX ICO is super hyped and looks good but this trend is a bit of a worry.
https://news.bitcoin.com/chinese-altcoins-cant-stop-failing/

@Topsy

That's good to read about tokens being able to jump ship, I'm a huge fan of ADA my biggest holding and looks to be a better improved ETH ,but has a long way to go, then it's probably going to be a bit of fight between ADA and EOS.

Indo, yes ada has some way to go, but remember they are approaching it from a different direction: Peer reviewed scientific studies were completed BEFORE development, and their focus from the beginning has been to learn from bitcoin and ethereum’s mistakes. I think they are getting very close and it could be sooner rather than later. Better get myself some eos soon too.

https://cointelegraph.com/news/bitcoin-price-hit-2018-lows-because-of-40...
So...It looks like the bitcoin selloff might have played a major role in both of the recent slumps (if only the alts could break free) I hope this is the case, once they are all sold we could be in for a nice long bull market, I live in hope :)

Why the fck would you sell that much BTC in the lowest price dip?

Heres the graph that shows where they sold at different times, that as you can see had an effect on the market, apparently in debt over 400 million and sold about 400 million worth of Bitcoin, so it doesn't mean they will sell more https://www.reddit.com/r/CryptoCurrency/comments/82ryay/ive_mapped_the_e...

Topsy. Any thoughts on Dropil? Although I see the ICO is now closed. :(

Don, I’m not all that keen on dropil at first look there seem to be a few similar projects around

https://medium.com/@credits/how-top-investors-are-playing-on-emotions-of...
An article from Credits about handling the recent blockchain fud and the way things are misinterpreted by new investors thanks to the sensationalist / ignorant media.

Very quiet around here. Hope its the waves, not the fud :)

Yeah the fud is draining, im kinda just trying to forget about crypto until hopefully better times, but I'm losing faith, I'm hanging in there until at-least November though, i always promised myself no matter what id give it a year through the good and bad.

I don't have any money to buy more as have a big Info trip coming up and a house reno to finish, so the low prices are now just a bummer.

Im kind of in two minds keep holding all my alts or cash them all in for Bitcoin and try to trade the ups and downs to increase my value.

In a sense i think this is the smart move, but the alts i hold i believe in and i don't believe in Bitcoin or am not a fan. (i have way to many different alts to trade any movement in them)

But until Bitcoin goes up most alts won't, so i gather even if i stuff up buying and selling Bitcoins movements, i should be able to just buy back what i had/beleive in as alts are unlikely to go up until Bitcoin goes up and the stabilisers.

Bitcon is rooted..anyone hear 'told ya so'??!!

For all the bitcoin chest beating earlier in this thread it sounds like a product that is not even a real product is finally proving to be worth what nothing is worth.Congrats to anyone smart enough to have got in and out on the right part of the slope. Did anyone see that russian chairlift video thats getting around ? Bit like that , should have jumped earlier

You guys might want to watch this video for a bit of a history lesson

Will history repeat?...who knows.

As for being real, there is no doubt it is real you can use it to transfer funds.

Worth is subjective, personally i dig crypto but I'm not a fan of Bitcoin and the focus on it instead of much better cryptos.

Nothing is “rooted” lol. This “crash” is only a problem for short term speculators. Blockchain is looking strong and there are many former opponents in the banking sector in particular who are coming out and admitting that the tech works and it is likely here to stay. If I knew in october what the worth of the market was today I would have been very pleased with the result. Who wouldnt take close to 5x? Anyway I’m pretty sure the cycle will continue, and when it does I wont be saying “told you so” I’m not that kind of guy. I like to see everbody do well and take no pleasure at all in other peoples misfortune.
On another note I was excited to see the interview Datadash did with Leemon Baird (the creator of hashgraph) here:

My sister works in a senior position for a banking regulator. Her opinion is that blockchain has several possible uses but these are at levels beyond those used by individual investors or totally unrelated to finance. My own view remains unchanged. Sell your cryptos while they still have some value.

Im taking a bit each way. 3x is already out and in the bank 2x still in, playing with profits.

Good luck!

Just watched quite a few recent videos it's amazing how many different opinions and views you see around the crypto space.

Im going into the red now, but i could never sell, if i end up with nothing i end up with nothing, i could never sell at a loss id be really bummed out if i did it's not even all about the money id just feel like id given up or something, maybe it's just stubbornness.

Maybe it sounds crazy but id rather hang in there and end up with nothing knowing i rode it to the very end, id feel better knowing i had and end up with nothing and just let the ashes smoulder hoping they ignite one day.

Historically speaking Bitcoin never dies just fades to nothing in price and can reignite, not sure if it will or if the cryptos i hold will but I'm going to find out:P

Plus i always promised myself id give it 1 year from entry to exit no matter what.

Money is great and thats why i invested, but sometimes it's also about the journey and what you learn, I've learnt heaps and what ever happens i have a story to tell, sometimes knowing you got involved or had a go is better than not and just watching it happen.

I have been into crypto last few years. I have had some really big gains and gave some big chunks back. The amount of hours i have spend researching is fucking mind boggling. I am thinking about pulling the plug and cashing out.

@indo glad to see you are not going to sell for a loss. Panic selling fills the pockets of the whales. A quick look at the history of any market shows this happening over and over again. I keep an eye on all the projects that I am invested in and not a single blog post or tweet recently has mentioned the state of the market. They are hard at work making real progress and I expect at least 3 or 4 of them to deliver a viable product, maybe even more. That will be enough. That was the way I expected to “win” at the beginning and it has not changed. There was a time during december/january when I thought that speculative craziness might make things happen faster, maybe it still will, but I beleive in the technology and the brainpower of the people involved

Indo I don’t get it. So many in crptyo say 'hold'. To where? I raised this weeks ago that everyone needs to get comfortable with stop losses and use exchanges that support them. Why would you let your investments keep going south. There are way smarter people in this field and they will slowly, over time, take everything you have. Sure ride it on the way up. Take some risks but why throw it all out. I’ve made lots of mistake and lost some money along the way. Lots of lessons learnt and the main Ione is don’t ride it down. If markets recover there will always be time to jump back in. Market likely has more south and I don’t agree that all cycles are the same. Lots has changed with etf and big players manipulating the market that wasn’t there even six months ago.

Unchanged since December 19, when you first mentioned it in this thread B.B.?
You can’t just keep saying that. This is a roller coaster, and your advice would have cost my Ripple mates $115,000, off their potential peak take, from a mere $12,000 investment. I respect your view a lot of the time mate, but your wrong on this one.

Maybe shoredump but the majority who were holding Bitcoin at the time would be way ahead if they had sold then.

Most serious investors who just hold bitcoin trade it's movements which as we know can go up and down quite a lot plus they also short it (basically betting it will go down)

Many have probably made more doing this since December than if they had sold but they still have the $$$ and the bitcoin.

Not to mention if they are smart they would have moved from Bitcoin in December to alts and made huge gains in alts.

@Joakse

I agree hodling is pretty stupid.

I should be cashing out high or going into USDT and rebuying the dip, for the last 2 months i have been putting 20% into USDT and trying to do this, the last three times i did to this it then went up again, but i did make small gains rebuying alts cheaper.

To be honest i just wanted to forget about crypto for a few days and when i did it dipped, now i think it's too risky to go into USDT as we are already close to the previous bottom and seem to have gained a level of support.

If i went into USDT now id be nervous that Bitcoin doesn't drop more, i know it might but we could also wake up tomorrow and it could be back up to 10K and alts regained too

Also before this correction i didn't have the experience or knowledge and i have a very diverse portfolio, something not easy to just go into USDT, my problem is i originally started on Coinspot and have most there and it's going to eat $$$ moving to a proper exchange.

But as i think i posted above I'm thinking of just cashing all into Bitcoin, but to be honest I'm scared i will fark up...so its kind of just safest in a sense to dumbly hodl.

I know much has changed...but a lot of people are also saying these changes and regulation are also helping open the door for more serious corporate investors not to mention the prices.

Honestly i read and watch a lot of different opinions hard to know what to believe...but like i said I'm just going to keep riding it to see, as one thing I'm not doing is cashing out at a loss.

ID, when you say go into US$, I assume you mean go into Tether? Because Coinspot doesn't support selling into US$. You either cash out into AUD Fiat which is where they sting you or convert all your coins into Tether (supposedly linked to the US$). I believe everyone is sitting around today and tomorrow hanging off any sniff of news from the G20 discussions on crypto. BTC will then only go either two ways. Buying this morning is on the back of this rumour and super low early Dec 2017 prices currently.

https://www.reuters.com/article/us-g20-regulations-carney/g20-watchdog-f...

It's a wait and watch for the next 2 days IMO.

Yeah Tether= USDT

Not a good look is it?

http://www.abc.net.au/news/2018-03-21/bitcoins-blockchain-has-been-linke...

Argh just what we need the FUD just doesn't end.

This article was a bit better in explaining things more https://coinnewstelegraph.com/bitcoins-blockchain-contains-links-to-chil...

Gotta love the media who use bitcoin and blockchain in the same headline. Blockchain is far far more than bitcoin. So to put the name bitcoin in those blockchain articles is just downright media hype, 100%.