ITT: We discuss possible masse exit scenarios from BTC in the [un]likely event it is abandoned for fiat and/or a different protocol.
>What price point must BTC descend to in order for “shitcoins” to rise in proportion to drops in bitcoin?
>What will be the average normie’s preferred escape route? Will frantic hodlers USD up, tether up, ETH up, XRP up, LINK up, etc?
Which coins or tokens could possibly survive a BTC crash if the “unthinkable” occurs and people wake up one day to find that bitcoin has gone the way of dinosaurs like the Model T, the rotary phone, the MySpace or the Netscape?
Or will crypto altogether end up in the trashbin of history’s tulip crazes?
What say you figgetz? >inb4 “hurr durr OP is a ____”
The block reward just has to go down enough then asic miners will do double spends every day instead of mining
Hunter Watson
why use bitcoin when you could use bitcoinCASH
Jaxson Green
this is what brainlets believe.
Dylan Nguyen
if btc dies nothing will rise everything goes to a few cents tops.
Jace Moore
Bitcoin is going to die after it loses its first spot. Instant loss of faith and it dumps into three digits. Miners switch off, very long block times, nobody is buying. The rest of the market will be unharmed by that.
Bitcoin doesn't actually move the market, it just seems that way because of index buying. Funds are buying baskets with weights based on market capitalization. As long as bitcoin is the biggest it looks like it's moving everything, but that will shrink as it loses its dominant position.
Camden Jackson
>Bitcoin doesn't actually move the market ahahhahaha bitcoin is the market.
Connor James
It's only 32% of the total volume and 2x eth's. As I wrote, the perceived correlation it's 100% due to basket buying. Bitcoin isn't moving the market, bitcoin is moving along with the whole market which is a subtle but important difference. It's not actually that important in itself.
Sebastian Lewis
that's just shitcoiner cope
Bentley Wilson
Bitcoin will eventually be taken over by self-interested groups that will change the protocol into a centralized juggernaut. Bitcoin will never die, but it's spirit will be displaced, released like a fart on the wind. Few will notice.
Liam Adams
That’s my take as well; Bitcoin is perceived to be “The” crypto market, as apposed to merely an entity/brand/protocol within it. Once that perception changes, the rest of the market can absorb BTC’s liquidty because the underlying interest in, and possible use case for crypto in general is still bullish long term.
But that still begs the questions; who’s still holding and at what point will they liquidate into something else? >bears arent certain how much downside is left to short and reliably exit because at a certain point BTC isn’t profitable to mine >normies are hodling BTC like lottery tickets out of brand loyalty and irrational lambo dreaming >nobody agrees at what price to capitulate
I see a lot of sideways action due to the above two factors. Which is too bad because the longer this plays out the longer it takes for the space to evolve.
If only somebody would dump Satoshi's Wallet, we could finally move on. Perhaps though, Satoshi has a heart and is waiting for enough normie wallets to cashout so that Wall Street is left holding the lion’s share of bags when the BTC market crashes. That would be based af.
>Bitcoin will eventually be taken over by self-interested groups Pretty much already has been taken over and concentrated in the hands of a few miners and whales.
If I were Satoshi, I’d dump my wallet on those special interest types.
Josiah Harris
>Once that perception changes that will not be in the next decade nigga that's the one i'm sure of.
Michael Martinez
Gov't bans using electricity for mining = instant death for PoW coins.
Sebastian Wright
>Link up Kekekekekekekekekk
Oliver Reyes
Not if Zilliqa manages to deliver.
Henry Russell
>I see a lot of sideways action due to the above two factors. miners have to dump and we are talking billions annually. Bitcoin will die after eth gets full PoS. Suddenly people will start asking questions: "I get income from staking eth, what do I get from btc?". At the same time, ethereum will have zero dumping from miners compared to billions from btc. Perfect setup for death.
Unfortunately eth has its own problems and nobody knows the date for full PoS
Grayson Clark
Looks like you are getting nervous user. Is the reality check getting hard for you to grasp?
Adam Cooper
>you clearly are not from here >asking anons to give you FUD meat for crypto >reporters are pathetic as fuck subhuman trash have a nice day cunt
Carter Morales
>I get income from staking eth, what do I get from btc? ln hubs same shit
Parker Taylor
no it's just delusional to expect btc losing lead role for the next few years. it took btc 10 years to get the financial sector become comfortable with it. random shitcoins appearing every week will not get the same benefit.
Jaxson Allen
nobody is going to use small hubs, only ultra-centralized network sort-of works in ln. There's a new ln wallet called 'wallet of satoshi' bitcoiners are very ecstatic about it because there are no problems with channels etc. You know why? Because it's literally a bank. You deposit btc into the company and they run few channels for everyone. That's going to be the future of ln. You can forget about getting any money from fees.
Mason Scott
>nobody is going to use small hubs well it depends there is some locality in real world commerce which the ln network can match. it will take a few years before ln takes it's first working shape. you can pool the liquidity kinda like you pool mining power it's more risk right now but perhaps smart contracts will be of help.
Ayden Thompson
>don’t disrupt muh echochamber enjoy your staircase to the bottom, famalam
It already took shape. Did you ever wonder who is paying for all that ln development? It's not altruistic. The business model of every wallet is to make people use their nodes, or even deposit bitcoins directly requiring trust. Right now you can still choose a node in some, but that option is going to be relegated to 'advanced options' in the future and eventually disappear.
Asher White
How much do you scholared gentlemen think bitcoin will be worth in exactly 2 months from now?
Adrian Miller
Creg will kill the bitcoins sir
Thomas Long
Word and heard. Things like bitcoinHEX are likely what will make for BTC’s long term use case: a store of value rather than a fast censorless currency. >inb4 muh lightning network
Gavin Bennett
>It already took shape nah nigger please just fuck off, the ln network is just trying to find itself at the moment pretty far from any useful form size and shape
Luis Diaz
Pretty much this. Government and finance isn't all in in the soap opera. None of the world outside of the coked out fucknuts who are too close to it throw all in on the flavour of the week.
Bentley Price
brainlet, you don't know nothing
Hudson Cox
>Which is too bad because the longer this plays out the longer it takes for the space to evolve. The space IS evolving. Just in evolving in price, but in technology, it is.
I see it in a different way. The longer the shitshow continue, the saner the market will be after.
200 EMA already broke. 200 Weighted moving average already broke 200 M.A will break
Jack Bailey
Did 225 EMA also break already?
Austin Wilson
already broke
Noah Collins
Computational power outpaces sha256 secuirity at a rate too fast to prevent and someone/ some government hacks all the coins in a single day.
Luis White
lmfao and how are they going to enforce that you fucking lunatic retarded motherfucker
Robert Gonzalez
*updates SHA256 to SHA262144*
Henry Gomez
>All POW coins will die. except for one it makes no sense to have more than one. they will convert or die yes.
Michael Torres
So this is why Satoj needs 1 terabyte block sizes. To be able to store those humongous hashes.
Dominic Davis
nah, i think he means the ecdsa becomes vulnerable. he forgets that in that case everything all around the world becomes unsecured that was protected by public key cryptography. the impact and potential breach would be far greater than bitcoin.
Angel Evans
The year is 2020. Institutional money at large is finally interested in cryptocurrency, but is disgusted at the idea of every pleb(including tax authorities) being able to track their every move. The real flippening slowly occurs over the course of 2020-2021, wherein by 2022 Monero is worth nearly $7000. >pic very related
