Bitcoin will die like icarus. Or like an airplane that climbs too fast that it stalls out and crashes to earth. This will be the death of bitcoin.
Like I said in my last post the reason for bitcoins recent spike has been scarcity; china is in a crackdown on bitcoin miners and is not letting them sell their mined coins. This causes a reduction in supply, and with a constant demand will lead to an increase in price.
As these miners have been able to sneak some bitcoin past the guards and have been able to sell chunks the price has fallen and as the supply again dries up the price goes back up. This is why we have been seeing temporary dips below 6000 to 5500 in recent days.
We don't know what bitcoins cap is. What I mean by this is lets say all the supply from china drops out what is the most people are willing to pay for bitcoin? It depends on the use that it is bieng used for. With a price at 6000 obviously some people think that it has uses to warrant that price. In other words they will pay that price.
Whatever the price cap ends up bieng the same fact remains, that once china effectively totally blocks its miners from selling their coins, or just makes it so they can't sell enough to maintain operations, they will stop mining (or greatly slow it down to the rate at which they can sell their coins). This does not only perpetually keep the supply low and therefore bitcoins price high, but it will slow down transactions on the network. The slowng down of the network will severely drop bitcoins usability and therefore the "price cap" - in other words what people are willing to pay - will drop significantly. If it takes a month to process a bitcoin transaction people will dump their bitcoins and move to a bitcoin fork like bitcoin gold or another crypto like etherium (or monero if they are smart) where transactions happen in a reasonable time frame.
Bitcoin will never go away totally; but without the mining prowess it once had, it is just another run of the mill crypto. And it will be priced accordingly.
Wow, What a Excellent post. I really found this to much informatics. It is what i was searching for.I would like to suggest you that please keep sharing such type of info.Thanks usitech
ReplyDeleteThese are not simply wallets, but rather are in reality part of the bitcoin arrange. www.bccreview.com/bcc-lending/
ReplyDeleteConsequently, they can't be recouped if the mystery keys are stolen by a programmer or lost to a bombed hard drive, or because of the conclusion of a Bitcoin trade. e-currency exchangers in Nigeria
ReplyDeleteI found here, the delineation of what we call wonderful.
ReplyDeleteKucoin exchange review
What is Bitcoin and why do people care? It's a new form of money and it's taking the world by storm. unconfirmed bitcoin transaction
ReplyDeleteWhat a slick and exact article. The utilization of words is exemplary.
ReplyDeleteRicona ICO
With Bitcoin, "diggers" utilize exceptional programming to take care of complex scientific issues and are issued a specific number of Bitcoin consequently.best lending platform
ReplyDeleteRecently, I have commenced a blog the info you give on this site has encouraged and benefited me hugely. Thanks for all of your time & work. Like XMV (forked from monero)
ReplyDeleteSooner or later, the era of Bitcoin will end and this is one of the possible reasons how it may happen. Although, there are still other outcomes that might happen depending on the future events. Visit here for more info.
ReplyDeleteAs far as decentralization is concerned, an international computer network called Blockchain technology manages the database of Bitcoin cryptocurrency trading for beginners
ReplyDeleteI'm sure it is bound to happen sooner or later. Bitcoin, no matter how big it is today, will soon end and this article provides one of its possible ending. I hope before it dies and click here, people got a lot from it.
ReplyDeleteFederal Reserve prints more dollars, whenever the economy is sputtering. Government injects the new created money into the economy causing a decrease in currency value, thereby triggering inflation. Inflation decreases people's power to buy things because prices of goods increase. coin prices
ReplyDeleteThis year the value of Bitcoin has soared, even past one gold-ounce. There are also new cryptocurrencies on the market, which is even more surprising which brings cryptocoins' worth up to more than one hundred billion. On the other hand, the longer term cryptocurrency-outlook is somewhat of a blur. There are squabbles of lack of progress among its core developers which make it less alluring as a long term investment and as a system of payment. Coinmarket
ReplyDeleteOn the off chance that you have bought in to a programmed bit coin benefit, at that point you won't have the capacity to control the cost at which the BTC is purchased each month.eroiycoin.com
ReplyDeleteNotwithstanding, the Bitcoin cost relies upon the level of certainty its clients have, as the more significant organizations acknowledge Bitcoin as a strategy for installment, the more effective Bitcoin will progress toward becoming. Hashkon ICO
ReplyDeleteI love the way you write and share your niche! Very interesting and different! Keep it coming! https://www.cryptocurrency.lu/
ReplyDeleteThusly, not at all like a customary financial balance, you needn't bother with a not insignificant rundown a printed material, for example, an ID with the goal for you to set up what's known as a bitcoin wallet. The bitcoin wallet is the thing that you will use to get to your bitcoins and to send bitcoins to different people. crypto way
ReplyDeleteAccording to unverified sources, trading was stopped due to malleability-related theft that was said to be worth more than 744,000. The incident has affected the confidence of the investors to the virtual currency.bitcoin jobs
ReplyDeleteIt is an approach to store your bitcoins. In particular, it is programming that has been intended to store bitcoin. best asic miners 2017
ReplyDeleteBitcoin Cryptocurrency works on blockchain technology which is a digital public ledger and shared by anyone in the world. Bitcoin
ReplyDeleteutilizing the alias Nakamoto) who composed it in 2008 to be "virtual gold" and discharged the primary Bitcoin programming in mid 2009 amid the stature of the USA monetary emergency. Btc doubler
ReplyDeleteThere are cell phone applications for directing portable Bitcoin exchanges and Bitcoin trades are populating the Internet. bitcoin blender
ReplyDeleteAlso, for reasons unknown,https://ifeatures.weebly.com/blog/top-4-cryptocurrency-hardware-wallets-in-2018 the online casino works similarly as the customary physical casino.
ReplyDeleteThey will receive, store, and send your bitcoins. You can create one or more addresses with a click (an address is a number that looks like this: eyeline trading review
ReplyDeleteIt is akin to setting up a new bank account, as the Exchanges are brokers of valuables, and they want to be sure that you are who you say you are Alex
ReplyDeleteHello there! I just want to offer you a big thumbs up for your great info you have right here on this post. I'll be coming back to your web site for more soon.
ReplyDeletebest skateboard accessories 2018
hill climb racing unlimited money cheats
best backpacks for college girl
ReplyDeletebest pack is a good websites for colleges
h&m bomber jacket mens lets try
ReplyDeleteI can see that you are an expert at your field! I am launching a website soon, and your information will be very useful for me.. Thanks for all your help and wishing you all the success in your business. Cryptocurrency Exchang
ReplyDeleteThese websites are really needed, you can learn a lot.
ReplyDeleteビットコイン
We see a growing number of people experimenting with life in Bitcoin for months as they record the experience to see documentaries,https://www.jetwin.com/en-us/bitcoin-casino you must try for bitcoin from here.
ReplyDeleteBitcoin (BTC) is a digital currency which is created and held electronically and no one controls it https://bitcoinvest.cc
ReplyDeleteThere's no need of a bank or clearinghouse to go about as the center man. On account of that, the exchange charges are an abundant excess lower, they can be utilized in every one of the nations around the globe.blockchain domain names
ReplyDeleteLike different monetary standards, the amount of this virtual cash is settled and nobody has the privilege to make new Bitcoins. double your bitcoin
ReplyDeleteI recently found many useful information in your website especially this blog page. Among the lots of comments on your articles. Thanks for sharing.
ReplyDeletecryptocurrencies trading
Thanks for sharing nice information with us. i like your post and all you share with us is uptodate and quite informative, i would like to bookmark the page so i can come here again to read you, as you have done a wonderful job. how to make money fast
ReplyDeleteWe have sell some products of different custom boxes.it is very useful and very low price please visits this site thanks and please share this post with your friends. Best cryptocurrency to buy now
ReplyDeleteThe algorithms are extremely complex and the CPU is running full tilt. Many users have specialized computers made specifically for mining cryptocurrency. Both the user and the specialized computer are called miners. best source cryptocurrency
ReplyDeleteNice post. I learn something new and challenging on blogs I stumbleupon everyday.
ReplyDeleteIt will always be useful to read content from other authors and use something from other websites.
Also visit my webpage - 오피 (jk)