Quote from: Remnant503 on May 09, 2017, 11:28:39 PM

Quote

http://www.c[Suspicious link removed]m/2017/05/08/bitcoin-price-hits-record-high-and-4000-is-ahead-investor-says.html

Many thanks for this link. It was quite informative. I understand now that there are multiple factors affecting the price, but its generally good news for the future. Except if the US Gov decided to make it illegal I guess we will have to go to Japan then or maybe nothing will change then?

I would really appreciate any clarifications on the following if possible:

1- In the video they said last year they cut off half of the quantity of BTC to prevent inflation. Who controls that and what happens when they release it back again on the market. Would the price drops back again?
2- It also mentions about the last month's change in the technology code of LiteCoin so it became faster in transactions. How does that affect BitCoin and is it possible to implement the same fast technology as LiteCoin?
3- How likely will a pullback in the price happens? Is it possible for it not to happen and the price continue going up?

Thanks.

1-Probably you are talking about the halving? When the blocks solved give half of the reward than before the halving. It is written in the code since Bitcoin started, and no one has control about when they are going to happen, and no one can do or undo a halving. It is part of Bitcoin design.
2-Litecoin activated Segwit, but no direct effect on Bitcoin because Litecoin and Bitcoin are different coins. Probably won't be implemented in Bitcoin because would require 95% or so approval of the miners(currently around 20%, I think)
3-I don't know, but I see no reason for a big fall