The death of BTC

[Guest]

Does anyone else believe we are in the midst of the death of BTC.  Not becoming totally extinct but rather flattening out in value, the end of steady growth and those BTC holders diversifying? I know everyone predicts $100K, wiener eating if BTC doesnt hit targets, etc...but I feel this is the beginning of the end of BTC's rapid growth explosion. 

All good things must come to an end...is this BTCs end?

 

[xrpwizard]

Oh yeah absolutely. People are finally realising the only thing going for BTC is brand recognition. It's slow and outdated as a tech and divided as a community. We won't ever see $20k a coin for BTC ever again.

[Guest]

I'm not sure. I go back and forth on this. All the forking and 1) high fees 2) long time to transfer and 3) energy use does not look good on BTC, and I'm not sure how BTC fanatics can ignore those. 

Taking them as they are:

1) Forking - no one really likes this. It's impossible for non-technical people to understand. BTC will never go mainstream with this craziness. 

2) High fees. I wanted to invest a small amount in a fairly new coin. I can only buy it in BTC from my exchange. I bought $150 from Coinbase. By the time my exchange received it, I was down to $115. I mean...never again. I'm too frugal for that crap. 

3) It took hours and hours to transfer a minimal amount of BTC. $115? Ridiculous. 

4) Energy use - doesn't mining use an insane amount of energy? I can't remember specifics, but it's outrageous. And investors nowadays actually care about that (somewhat). 

I have a problem believing that people are so upset about Trump pulling out of the climate accord with other countries, yet they will invest in BTC? Hmmm...either people are truly hypocrites, or they will not invest in BTC when it goes mainstream. And if they do/are invested I BTC, I expect to hear nothing from them, ever on wasting energy, environment cleanup, etc. Just a small rant...

If BTC doesn't change their game, quick, this may be the beginning of the end. But it couod be a long way to the end. 

Edited December 28, 2017 by Guest

[Guest]

2 minutes ago, xrpwizard said:

Oh yeah absolutely. People are finally realising the only thing going for BTC is brand recognition. It's slow and outdated as a tech and divided as a community. We won't ever see $20k a coin for BTC ever again.

That is a bold prediction! Interesting. 

[Guest]

I agree with BTC as the brand recognition. I've had family ask me about how to buy different Bitcoins  , but coming from their perspective, I can see why. Up until recently, thats really all you ever heard about. 

When I first started investing, I did my research and found ADA and XRP as two solid coins. XRP obviously has a strong use case; ADA (Cardano) is backed by some pretty big named Universities. Further research, and a little dabbling in the sh!t coins, I put my money in what I believed in. I found no real value in BTC...to me that was the "brand" name, the face, of crypto, but not something I could invest in. I felt it was a fad, albeit a fad which opened doors for the technology as a whole, but had no foreseeable future use. What are we going to do, have our money stored in something, that is slow to transfer, expensive to use, and imo built on nothing but hype by the people who made $ on it early. 

I think the people now entering the crypto market will first go to BTC for ease of purchase, but most are not your typical crypto investors of old but rather those who are more of the traditional types. The types that invest in Google, Amazon, Tesla, mutual funds, etc... and will be looking for coins backed by real people, with a real purpose which solves real problems. Those three things were not found in BTC for me...but XRP checked the boxes.  Also, looking to the future, when people start to see that BTC is not making them money they are going to turn elsewhere.  It may not be XRP as I believe some will either loathe the cooperation with regulators or feel that the huge "moon" "lambo" gains are no longer there and will turn to the smaller pump and dump coins.

I look forward to the day that BTC ceases to be #1 and coins of purpose take over. I feel the last big factor that keeps BTC going is all of the pairings of BTC/XXX. If markets were to expand to allow further fiat or crypto pairings, I think we will see the acceleration of BTCs demise.

[Guest]

I agree with you @JaseEffect except I don't think the newer investors will turn to the pump and dump coins. I think there will be regulations against those soon enough. 

[Guest]

Sorry i wasnt clear (beer), I meant those that have been investing in crypto for years and may see XRP as the "bankers coin"....I hate that term too.

5 minutes ago, DrWhoAmI said:

I agree with you @JaseEffect except I don't think the newer investors will turn to the pump and dump coins. I think there will be regulations against those soon enough. 

 

[MilNoslen]

4 hours ago, JaseEffect said:

I agree with BTC as the brand recognition. I've had family ask me about how to buy different Bitcoins  , but coming from their perspective, I can see why. Up until recently, thats really all you ever heard about. 

When family members ask, game over man.

[manateehunter]

Bitcoin won't die until it stops being the measuring stick on most exchanges. I don't think it'll grow as rapidly from here on though.

[MilNoslen]

7 hours ago, manateehunter said:

Bitcoin won't die until it stops being the measuring stick on most exchanges. I don't think it'll grow as rapidly from here on though.

In time I'm sure it'll die out. Won't be as prevalent as it is these past few months, but not as strong as the "one true coin".

[Guest]

16 hours ago, manateehunter said:

Bitcoin won't die until it stops being the measuring stick on most exchanges. I don't think it'll grow as rapidly from here on though.

I totally agree as stated in my prior post.  I just don't think that can happen until XRP (or another coin, ok who am I kidding, XRP) passes it.

[Guest]

On 28/12/2017 at 11:44 PM, JaseEffect said:

I did my research and found ADA and XRP as two solid coins. XRP obviously has a strong use case; ADA (Cardano) is backed by some pretty big named Universities.

I agree with you on ADA and I plan to invest eventually.  I like the peer review aspect and I especially like the forward planning to become quantum computer proof.  I've yet to watch Charles Hoskinson's whitepaper video on youtube though so I'm not clued up enough to invest yet.  I strongly believe BTC is about to pullback to 2-2.5k and it will drag all the other coins with it....including ADA because as good as ADA is...it's nowhere near independent from BTC the way XRP is.

As for your OP I also agree with you that BTC won't become extinct completely but I wouldn't be surprised to see 1 bitcoin being worth $2 by 2020.  In fact I am more surprised it reached 20k than I would see it drop back to $2!

[Zedy44]

BTC won't go quietly. The lightning network crap will be the real decision maker imho. If they pull it off and it fixes the scaling and fee issues without much drama then BTC may get a real booster shot in the arm. If it flips with drama and inadequate adoption however it truly is implemented then that would be a death blow.

[MilNoslen]

5 hours ago, Zedy44 said:

BTC won't go quietly. The lightning network crap will be the real decision maker imho. If they pull it off and it fixes the scaling and fee issues without much drama then BTC may get a real booster shot in the arm. If it flips with drama and inadequate adoption however it truly is implemented then that would be a death blow.

Let's hope for the latter then, FOR THE ZERPS!

[Guest]

Looks like today will be the day BTC hits its new all time low for dominance.