IF it recovers, it will be super quick.

From a technical point of view, that low down to $5,500 looks like the final low. A quick, deep dive down with a quick, steep recovery is always what you want to look for at the end of corrections.

Fundamentally, the BTC blockchain will start moving again two hours from now. That will bring back confidence. Additionally, it looks like BCH has found its short-term peak.

BTC and BCH will probably co-exist in the future. If you buy now, you will have bought at a great point to enjoy the fireworks to come: The year-end-rally.

Still a lot of insecurity in the market, but not that much danger anymore... buy now, when there is blood on the streets!

Thanks, looking for a way to do it with BTC though. I'm not gonna choose my crypto after its ability to send a message with a transaction.

Yes, I get that Bitcoin is not a messaging system. I was asking out of curiosity, and also to maybe in the future mark certain addresses as proof for tax reasons. It's not good to spam and congest the network, I know.

Which services would do that, can you name some?

And btw, I applaud you for restlessly answer questions on this forum and educating people. Bitcoin needs people like you, so thanks!

Thank you! Only possible for miners, I see.

Would you mind explaining how I can use an OP_RETURN output? Do I have to run my own node in order to do that? Non-technical person here...

A message e.g. like the one Satoshi sent with the Genesis block: "Chancellor on brink of second bailout for banks."

Just curious how to do this as a normal user.

Great, thank you!!

I would choose the second, more secure option, for my peace of mind. I knew you could do that on Trezor, but thought it wasn't possible with the Ledger.

I'm on the fence whether to buy a Trezor or a Ledger S. I know they are both good. BUT:

1. I recently heard that Trezor had some security vulnerability exposed (with its recovery seed, I believe). What happened there, and is this a danger for the future?

2. Once my device arrives, I want to test the recovery seed (pretend I lost my device, and use the recovery seed to recover my wallet). As I understand, if I do this with the Ledger, the seed and thus my device will be worthless afterwards; whereas with the Trezor this is possible without problems. Correct?

Any hints of knowledgeable people would make me a happy hodler!

A bit off topic: I'm on the fence whether to buy a Trezor or a Ledger S. I know they are both good. BUT:

1. I recently heard that Trezor had some security vulnerability exposed (with its recovery seed, I believe). What happened there, and is this a danger for the future?

2. Once my device arrives, I want to test the recovery seed (pretend I lost my device, and use the recovery seed to recover my wallet). As I understand, if I do this with the Ledger, the seed and thus my device will be worthless afterwards; whereas with the Trezor this is possible without problems. Correct?

Any hints of knowledgeable people would make me a happy hodler!

https://www.xbt.eu/

What's happening here, did all the miners bail to BCH...?

This doesn't look good.

Oooopsss... up to 13% again.


Right, I didn't think of that.  

Those blocks are almost empty. Does that have any effects on difficulty or how much the miners are earning?

https://cash.coin.dance/blocks

Also, notice that BHC only has about 3% more profitability than BTC at the moment. Why did  it go so low that fast?

Interesting. I was always wondering why people value a firm cap of supply so little about a coin. BTC has a firm cap, and with the halvings, lost coins, etc... it's guaranteed deflationary! With ETH, it's not even sure how many there will be on the market in the future, and one man could change the rules anytime anyways. Then, some clueless new investors even think BTC is 10 times more expensive than ETH, so ETH is still really cheap...

Can you tell me more about those pre-mined ETH coins, are these included in the official supply? Who has them, what's the scheduled plan? I have never heard about this.

Also, what about the XRP supply, can you shed some light on it? I know nothing about XRP.

Interesting article. Half of all remittances is a bit much for me, but I could see BTC bite off a big chunk of the remittance market.

But: As fiat is only converted into BTC for a short time, and then converted back, would that drive the price up permanently and constantly? I guess you could argue that at any time xx remittances are needed in BTC.

I love the fact that this paper scam will not be possible with BTC. If you want to mass-dump BTC, you have to BUY it first, ha ha!

Also, how did you calculate that all-time high?

Totally, I agree with all of this.

I get what you are saying, OP. The ascent of the price was suppressed for some time because of the SegWit2x debate, and now it's resolved, shouldn't the price be much higher?

The price is already much higher than it was a short time ago at $1,900. Also, two reasons why it's not even higher:

1. August 1st is the big date in the head of the public. It's the date you can read about in mainstream media.

2. The hard fork is upon us now.

3. SegWit is not running yet.

I expect the price to rise steeply over August/September. That could start at the beginning of August, or maybe not before the end of August. But I think it will happen.

I completely agree. 38%, right, that's what I meant when I said "let's look at the numbers." It can all be easily googled nowadays anyways.

It might make more sense to not take the number of people with a computer, but instead the number of people with an internet connection, which is about 3,6 billion people (and rising). That's pretty good. In the future, as people get more used to BTC, and younger people, who are more prone to adopt to new technologies, grow into BTC, I could see many, many people buying BTC instead of gold. Also, BTC historically brought a lot more gains than gold. Plus it's easier to store, hide and transport, etc...

Also, I only gave BTC 10% of gold, which is still quite a conservative number.

So we hear all of this clueless speculation based on fear or greed: BTC is too expensive already! It's too late to buy! It will go to $10,000! It will be worth a million in 10 years! Yada yada yada...

But where are the facts, the numbers? How do you get to these predictions?

Let's start a thread in which we try to see how far it could go based on actual numbers of other assets. Let's ask the question:

How much of which other assets could go into BTC?

Of course, that's speculation too, but it's educated speculation. I will start out with this very interesting graph here. It shows you the market cap of BTC and many other assets, visualized in little cubes, according to their size:

http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/

And yes, the graph is a bit behind, as the current market cap of BTC is not 5 billion anymore, but 44 billion at the time of this writing. Check the current BTC market cap here: https://coinmarketcap.com/

For example, the market cap of all physical gold above ground is roughly 7 trillion or 7,000 billion. So taking into consideration BTCs 44 billion market cap, BTC needs to go to about $4,300 in order for it to have 1% of golds market cap (that would be 70 billion). If BTC goes to about $43,000, it will have 10% of golds market cap.

So how much could it draw away from gold? 1%? 5%? 10%? 20%? Even more?

And how much could it draw away from stocks? Bonds? Derivatives? Other assets?

My opinion: If you do the math, you get to quite a staggering number, and you can see the huge upwards potential BTC still has. I could definitely see it taking a bit bite out of gold, let's say 10% at least, which would already let it go to $40,000. And I'm not even speaking of stocks, art, maybe even real estate and bonds here. So I think $100,000 per BTC is definitely possible, IF no terrible thing happens along the way (government restrictions, political wars within BTC, technical catastrophes, etc...). We will see.

Your guestimates, ladies and gentlemen? Which other asset classes do you think BTC could draw from, and why?

I will try to put the most interesting diagrams, observations, etc... into this OP.