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Re: What happened to keeping all my bitcoin in same address? Now I pay insane fees?!
EDIT:
Further proving these idiots wrong, anyone having the same issue as me can see TrustWallet actually removed using change wallets/addresses. I have tested it a few times now and can confirm - your bitcoin wallet address stays the same no matter what.
Transfering my funds from yet another wallet who was using change addresses, the fees were higher because multiple addresses had my bitcoins - simply from sending some bitcoin.
It is very VERY simple unlike these morons are trying to make it - the more addresses your bitcoins get spreads to, the higher the fees will be if you ever send enough bitcoin that needs to use 2 or more of those addresses. If all your bitcoins stay in 1 address the fee stays the same no matter what the amount if bitcoin you are sending is!
You can further confirm what I'm saying is true here:
https://community.trustwallet.com/t/removal-of-the-auto-change-address-feature/155623
Removal of the Auto-Change Address Feature
What is Auto-Change?
The Trust Wallet team has decided to remove Auto-Change address functionality from UTXO blockchains, namely:
Bitcoin (BTC)
Further proving these idiots wrong, anyone having the same issue as me can see TrustWallet actually removed using change wallets/addresses. I have tested it a few times now and can confirm - your bitcoin wallet address stays the same no matter what.
Transfering my funds from yet another wallet who was using change addresses, the fees were higher because multiple addresses had my bitcoins - simply from sending some bitcoin.
It is very VERY simple unlike these morons are trying to make it - the more addresses your bitcoins get spreads to, the higher the fees will be if you ever send enough bitcoin that needs to use 2 or more of those addresses. If all your bitcoins stay in 1 address the fee stays the same no matter what the amount if bitcoin you are sending is!
You can further confirm what I'm saying is true here:
https://community.trustwallet.com/t/removal-of-the-auto-change-address-feature/155623
Removal of the Auto-Change Address Feature
What is Auto-Change?
The Trust Wallet team has decided to remove Auto-Change address functionality from UTXO blockchains, namely:
Bitcoin (BTC)
Re: What happened to keeping all my bitcoin in same address? Now I pay insane fees?!
For all you idiots who keep saying I'm wrong.
https://coinguides.org/bitcoin-change-address-output/
Literally don't need a change address.
Nothing I said is wrong.
If you think that article is wrong then you are part of the problem not the solution.
https://coinguides.org/bitcoin-change-address-output/
Literally don't need a change address.
Nothing I said is wrong.
If you think that article is wrong then you are part of the problem not the solution.
Re: Using change addresses does not increase privacy, just fees
For all you idiots who keep saying I'm wrong.
https://coinguides.org/bitcoin-change-address-output/
Literally don't need a change address.
Nothing I said is wrong.
If you think that article is wrong then you are part of the problem not the solution.
https://coinguides.org/bitcoin-change-address-output/
Literally don't need a change address.
Nothing I said is wrong.
If you think that article is wrong then you are part of the problem not the solution.
Re: Using change addresses does not increase privacy, just fees
Acutally using a change address, is the way that you need to use to get your change back, so if one of your UTXO is 1 Bitcoin and you only need to send 0.5 Bitcoin, What are you goint to use to get your change Back to you? Of couse a Change address, it can be the same of the source of a new one Address if you ask me i prefer to use a different address each time. But that depend only of your preference
In any CASE you NEED use one Change Address i mean the extra 50 bytes for the extra output will be payed even if the change address is the same than the source address.
The only way to not use a change addres is when you made a transaction without change.
In any CASE you NEED use one Change Address i mean the extra 50 bytes for the extra output will be payed even if the change address is the same than the source address.
The only way to not use a change addres is when you made a transaction without change.
Learn to read for once.
I explained if you keep your funds in 1 address you won't have the issue of paying higher fees later.Re: Using change addresses does not increase privacy, just fees
It seems you didn't understand how the transaction works like the above said even if you receive a changed BTC to change address from your wallet it does not only happen to change address. Even if you receive it in a single address you will still get high fees if you have multiple unspent transactions having multiple UTXOs in a single address or any address of your wallet can affect the transaction fees(it's all about the weight).
Learn to read.
I already explained how it works.Re: Using change addresses does not increase privacy, just fees
I will keep all my bitcoin on 1 single address thank you and change it when I want.
Not spread it across many different directions/addresses everytime I send some btc causing much higher fees pretending my privacy is enhanced.
What a joke. What a con.
Many ways outside of the blockchain to increase privacy without clogging up bitcoin with such non sense.
I don't care if you think otherwise, I'm pretty mad/pissed/upset about it.
But whatever. Stay ignorant and keep paying higher fees.
I mean really, do you like when you go to move all your funds at once and realize you really have much less -- cause all the fees that need to happen because now all your bitcoins were spread across many different wallet addresses..
That is appealing to you? OK. Whatever.
EDIT:
For those of you who don't know, pretty much every bitcoin wallet app is forcing you to use these change addresses, and thats why the more you use it the higher your fees have been at random times.
Unless you were sending a small amount and it was pulling that from 1 address, then the fees were normal.
But when you went to spend a higher amount, you were paying higher fees if it had to hit 2, 3, 4, etc wallets that your funds cause "change addressed" to over time.
It wasn't because you were sending more bitcoin, that isn't how bitcoin was meant to work. The fee is always the same no matter the amount as long as all the bitcoins are in 1 bitcoin address.
In the early days when you went to lookup your wallet address on the blockchain you would see all your funds in the wallet.
But now if you do that and had spent bitcoins since then, you'll see they were moved to other wallets. Some funds would stay behind again if you hadn't spent funds since receiving.
This is sick. You don't need this and it doesn't help your privacy not at least in a way thats worth the sick fees you pay over time.
But if you been using an exchange you might never notice, cause they doing it the old way where the fees stay 50 cents to a dollar.
Take coinbase, venmo, cashapp, paypal for example thats what they charge to send btc.
Cashapp lets you send btc free on lightning network but you have to send $25+ otherwise it as an option to pay $1 or $2
If you tried doing this yourself the fees would get out of control over time, because now most wallets for some reason changed to this stupid false privacy enhancement that really does nothing but give you the illusion you have much more privacy. It does cause some people a headache -- but not worth the fees you pay at all over the long run, not even close. And its only getting worse.
Not spread it across many different directions/addresses everytime I send some btc causing much higher fees pretending my privacy is enhanced.
What a joke. What a con.
Many ways outside of the blockchain to increase privacy without clogging up bitcoin with such non sense.
I don't care if you think otherwise, I'm pretty mad/pissed/upset about it.
But whatever. Stay ignorant and keep paying higher fees.
I mean really, do you like when you go to move all your funds at once and realize you really have much less -- cause all the fees that need to happen because now all your bitcoins were spread across many different wallet addresses..
That is appealing to you? OK. Whatever.
EDIT:
For those of you who don't know, pretty much every bitcoin wallet app is forcing you to use these change addresses, and thats why the more you use it the higher your fees have been at random times.
Unless you were sending a small amount and it was pulling that from 1 address, then the fees were normal.
But when you went to spend a higher amount, you were paying higher fees if it had to hit 2, 3, 4, etc wallets that your funds cause "change addressed" to over time.
It wasn't because you were sending more bitcoin, that isn't how bitcoin was meant to work. The fee is always the same no matter the amount as long as all the bitcoins are in 1 bitcoin address.
In the early days when you went to lookup your wallet address on the blockchain you would see all your funds in the wallet.
But now if you do that and had spent bitcoins since then, you'll see they were moved to other wallets. Some funds would stay behind again if you hadn't spent funds since receiving.
This is sick. You don't need this and it doesn't help your privacy not at least in a way thats worth the sick fees you pay over time.
But if you been using an exchange you might never notice, cause they doing it the old way where the fees stay 50 cents to a dollar.
Take coinbase, venmo, cashapp, paypal for example thats what they charge to send btc.
Cashapp lets you send btc free on lightning network but you have to send $25+ otherwise it as an option to pay $1 or $2
If you tried doing this yourself the fees would get out of control over time, because now most wallets for some reason changed to this stupid false privacy enhancement that really does nothing but give you the illusion you have much more privacy. It does cause some people a headache -- but not worth the fees you pay at all over the long run, not even close. And its only getting worse.
and once again using doge and ltc for small transactions stops this problem in its tracks.
this simple fact is not changing any time soon.
You can use bitcoin in a way that doesn't spread your funds across multuiple wallets everytime you go to send bitcoin. You just gotta find a wallet that supports it.
Re: Using change addresses does not increase privacy, just fees
There are levels to privacy right? So while you are correct that using change addresses isn’t going to fool the FBI into thinking you aren’t holding funds, it might fool the casual observer. There are downsides to using change addresses too when it comes to backing up funds. For most users I think the simplicity of using a single address would probably be advised.
I agree, but I just don't agree that its worth how much more you end up paying in fees over time.
In my case, anyone with block explorer could see where my funds were ending up, it didn't take the FED.
The fact that it has become a norm and forced on the average user is insane. But of course the average user is just going to be sticking to exchanges anyway.
But this is going to scare them away from using own wallet.. 99% of the bitcoin wallet apps don't even have the option to turn this "feature" off.
If you have hundreds or thousands of dollars in bitcoin for example, but have been sending $10 - $50 here and there for example... then come back and send all your bitcoins somewhere you'll find out your bitcoins have been spread across many different wallets now just from spending bitcoin (not receiving because you can have funds sent to same address, this doesn't stop change addresses from spreading your funds over time)
Re: Using change addresses does not increase privacy, just fees
You don't pay addition fee when you use change address because the output will be only the receiver's address and your sending address (if you don't use change address) or your change address, same outputs I mean.
What is the "Change" address on bitcoin wallet ? read to know !
Learn about UTXOs
What is the "Change" address on bitcoin wallet ? read to know !
Learn about UTXOs
You pay more fees when your bitcoins get spread across many different wallets caused by using change addresses.
If your wallet has 1 btc and its gotten spread across multiple wallets "for privacy" this happens when you spend btc. Change addresses.
So you have 1 btc but now its in multuple addresses, so if you spend it you end up paying higher feess than if it sat in 1 single address.
Not sure why people keep trying to argue about something so simple.
Re: Using change addresses does not increase privacy, just fees
It was made clear on your other thread that it is not about change address, it is about how many times people send you bitcoin.
If Mr. A, B and C send you 0.01 BTC each on a single bitcoin address making 0.03 BTC and you need 500 sat as fee if you want to send all the 0.3 BTC to Mr. D.
If Mr. A send you 0.01 BTC to your address A, Mr. B send you 0.01 BTC to your address B, Mr. C send your 0.1 BTC to address C. Also 500 sat needed as fee for the above transaction would be required for a transaction to Mr. D bechsse they have the same input count which is 3. That is, the bitcoin sent.
If Mr. A, B and C send you 0.01 BTC each on a single bitcoin address making 0.03 BTC and you need 500 sat as fee if you want to send all the 0.3 BTC to Mr. D.
If Mr. A send you 0.01 BTC to your address A, Mr. B send you 0.01 BTC to your address B, Mr. C send your 0.1 BTC to address C. Also 500 sat needed as fee for the above transaction would be required for a transaction to Mr. D bechsse they have the same input count which is 3. That is, the bitcoin sent.
Nope your wrong.
I stated I always have people send at the same exact address.
As you spend bitcoin they get spread accross different addresses then when you spend more than whats in 1 wallet you end up paying higher fees.
Nothing simpler than that.
Stop speaking on stuff you are clueless about.
I will keep all my bitcoin on 1 single address thank you and change it when I want.
Not spread it across 10 different directions/addresses causing much higher fees pretending my privacy is enhanced.
What a joke. What a con.
Many ways outside of the blockchain to increase privacy without clogging up bitcoin with such non sense.
I don't care if you think otherwise, I'm pretty mad/pissed/upset about it.
But whatever. Stay ignorant and keep paying higher fees.
I mean really, do you like when you go to move all your funds at once and realize you really have much less cause all the fees that need to happen because now all your bitcoins were spread across many different wallet addresses..
That is appealing to you? OK. Whatever.
Not spread it across 10 different directions/addresses causing much higher fees pretending my privacy is enhanced.
What a joke. What a con.
Many ways outside of the blockchain to increase privacy without clogging up bitcoin with such non sense.
I don't care if you think otherwise, I'm pretty mad/pissed/upset about it.
But whatever. Stay ignorant and keep paying higher fees.
I mean really, do you like when you go to move all your funds at once and realize you really have much less cause all the fees that need to happen because now all your bitcoins were spread across many different wallet addresses..
That is appealing to you? OK. Whatever.
Re: What happened to keeping all my bitcoin in same address? Now I pay insane fees?!
And for some reason, OP is fixated on the thought of disabling change address will fix his high transaction fee issue.
At this point, I wont add anything that's already been explained here.
At this point, I wont add anything that's already been explained here.
Consolidating addresses every once in a while by sending yourself transactions from 5+ UTXOs in an address or a few, to another address will make one UTXO, will save you fees if you set the fee rate low enough like 5, 4 stats/vbyte and the mempool isn't jammed like it is now.
Right now an 8 sat/vbyte transaction is 51MB away from the tip, so now is not a good time to consolidate any UTXOs into one because extraordinary fees will be paid.
For example, if you have 70 UTXOs in total, then each utxo takes about 200 or so (v)bytes in the transaction, so 70 * 200 = at least 14000 sats transaction if not more.
That's at least $3.78 per satoshi per (v)byte added to the transaction fee.
Thats interesting stuff but not needed if change addresses aren't used to begin with.
Which DOES indeed fix my high transaction fee issue.
No change addresses
No btc being spread accross more wallet addresses
=
Lower fees.
Facts.
Re: What happened to keeping all my bitcoin in same address? Now I pay insane fees?!
It IS correct.
It is NOT!
When you send too much funds and its transfering from multiple wallet addresses because of change addresses caused from previous transfers.. Guess what? You end up paying HIGHER fees than if all the funds stayed in 1 wallet.
You still don't seem to understand. It's not the number of addresses that matters; rather, it's the number of inputs and outputs in a transaction that affects the fees. Whether you combine 10 inputs from one address or multiple addresses into a single transaction, it doesn't change the overall fee calculation.
This is simple fact and the way bitcoin use to work by default in the early days.
That's how it's always been.
I will try it out and see if it actually works where my funds always stay within 1 wallet/address.
Yes, you do that. No need to thank me.
What you a terrorist or something like wtf. 
Oh, sure! Insulting those who are genuinely trying to help you is a great strategy. Let's see how well that works out.
<cut>
That's not the point of the instructions.It's to explain that even if what he want to do is doable, there wont be any difference when it comes with the number of UTXO that his wallet will receive even if the change is sent to the same address or a change address.
The point of my instructions is to answer OP's question, which you omitted from the quote, so I will repeat it here:
I would like someone to explain if its possible for a app to be designed to just send the funds back to the original address when you spend your bitcoin instead of being sent to a new change address. I don't see why it would not.
I didn't imply your instructions were incorrect; I just provided a simple solution for the OP's specific problem, which no one had suggested before.
And for some reason, OP is fixated on the thought of disabling change address will fix his high transaction fee issue.
At this point, I wont add anything that's already been explained here.
At this point, I wont add anything that's already been explained here.
That's true. At this point I'm not even sure if the OP is really that ignorant or just a troll.
Nah its comments like these that urk me.
Talking WAYYYYY beyond the point.
Having more change addresses = gonna pay higher fees
Stay on topic instead of trying to sound smart, like holy crap people are so full of themselves.
Re: What happened to keeping all my bitcoin in same address? Now I pay insane fees?!
Bitcoin in the old days did not use to do this.
When I was sent bitcoin to an address, it STAYED on that address. I could always go on blockchain explorers and see my funds.
This hasn't changed. Unless you make a transaction (obviously).When I was sent bitcoin to an address, it STAYED on that address. I could always go on blockchain explorers and see my funds.
Being FORCED to use a "feature" that causes you to pay 2-4x more in fees is the real limitation.
As said before: that's incorrect. If you don't want to believe that: fine by me. But before complaining it helps if you know what you're talking about.TL;DR: Bitcoin transaction fees are based on 2 things: the size (in bytes) and the fee you choose to pay. If your fee is too low, your transaction won't get confirmed any time soon. If you add more different inputs (think about it as a bag of small coins), your transaction gets larger and your fee goes up. That's all there is to it. The address doesn't matter, although the address type does matter. Use Native Segwit for lowest fees.
It IS correct.
When you send too much funds and its transfering from multiple wallet addresses because of change addresses caused from previous transfers.. Guess what? You end up paying HIGHER fees than if all the funds stayed in 1 wallet.
This is simple fact and the way bitcoin use to work by default in the early days.
I use to NEVER have to worry about my funds being moved around so much that next thing I know if I go to transfer $300 or drain the whole wallet, its showing $7+ in fees simply because the funds are NOT all within 1 wallet address anymore.
Re: What happened to keeping all my bitcoin in same address? Now I pay insane fees?!
But why does no bitcoin app exist like this anymore?
If you create a new Electrum wallet, and instead of the default choose to only create one private key, you'll have a single address wallet. Mycelium on Android can do the same.The reason nobody creates this is because there are no benefits and only drawbacks. It's not a feature, it's a limitation.
Being FORCED to use a "feature" that causes you to pay 2-4x more in fees is the real limitation. Literally LIMITTED to that.
Having a feature taken away? Makes no sense.
Re: What happened to keeping all my bitcoin in same address? Now I pay insane fees?!
Thanks for all the responses but no one has pointed me to a solution where bitcoin was back in the old days.
I don't get it, in the first version of Bitcoin, it's already using the same UTXO model.The only thing that's changed is the amount of transactions that you've been receiving.
I literally send all my funds to ONE SINGLE ADDRESS yet each bitcoin app I have used INSISTS on changing my funds around causing me headaches and endless fees later.
-snip-
I want ONE BITCOIN ADDRESS FOR EVERYTHING ALL FUNDS!
-snip-
I want ONE BITCOIN ADDRESS FOR EVERYTHING ALL FUNDS!
I tried electrum too it does the same thing! I tried googling how to disable it, but mine doesn't have the option or I'm just having a hard time?
Okay, there's a way to do that in Electrum 
You do that by importing a single WIF private key to Electrum by selecting the option "Import Bitcoin addresses or private keys" when creating a wallet.
You can click the "info" tooltip above it to indicate the address type.
But take note that receiving everything to that single address or receiving the change to that same address wont do any difference.
Each unspent transaction output (UTXO) still counts as one "coin".
It does not appear to work as you guys think.
Bitcoin in the old days did not use to do this.
When I was sent bitcoin to an address, it STAYED on that address. I could always go on blockchain explorers and see my funds.
Now with all these different bitcoin wallet apps, over time the funds are "changed" around as you spend your funds. This did not use to happen.
I would like someone to explain if its possible for a app to be designed to just send the funds back to the original address when you spend your bitcoin instead of being sent to a new change address. I don't see why it would not.
For me this has not increased privacy at all, I can see where all my funds are being transfered to on the blockchain its public???
It has only increased fees not privacy in my case!
I hope someone can point me to an app that does what bitcoin use to.
This is madness!Re: What happened to keeping all my bitcoin in same address? Now I pay insane fees?!
First: relax! Take a breath 
You should read my topic on consolidating small inputs, and learn how to minimize fees. If you want to be in control, that involves manual choices.
I tried electrum too it does the same thing! I tried googling how to disable it
You don't need to disable anything. If you want to use the same Bitcoin address again: do it. There's no need to ask your wallet for permission.Quote
EDIT: The other day I moved $300+ all my funds from one wallet AND IT COSTS ME $7+ IN FEES!!!!!! (because of so many "change" addresses over time!!)
Use Electrum (or Bitcoin Core), and enable Coin Control in Bitcoin Core or the Coins tab in Electrum. From now on, never make a transaction without manually selecting which inputs. That means you get to choose how many inputs you use.You should read my topic on consolidating small inputs, and learn how to minimize fees. If you want to be in control, that involves manual choices.
But why does no bitcoin app exist like this anymore?
Surely someone has made one?
Why is it so hard to program the bitcoin app to send the funds back to the original address instead of a different change address? Or was it made impossible somehow over the years??
Call it:
Single Wallet: Bitcoin Classic
Please I find it so hard to believe this great control and feature of bitcoin has just been wiped out!!
I can't breath!
Re: What happened to keeping all my bitcoin in same address? Now I pay insane fees?!
Thanks for all the responses but no one has pointed me to a solution where bitcoin was back in the old days.
I tried electrum too it does the same thing! I tried googling how to disable it, but mine doesn't have the option or I'm just having a hard time?
Like I said, in my case my privacy is not being increased.. you can literally see on the blockchain where my funds are moving around to.. and then where they end up anyway..
So far this feature hasn't increased privacy, only fees.
I should at least be able to disable this non sense!!
I tried electrum too it does the same thing! I tried googling how to disable it, but mine doesn't have the option or I'm just having a hard time?
Like I said, in my case my privacy is not being increased.. you can literally see on the blockchain where my funds are moving around to.. and then where they end up anyway..
So far this feature hasn't increased privacy, only fees.
I should at least be able to disable this non sense!!
What happened to keeping all my bitcoin in same address? Now I pay insane fees?!
⭐ Merited by ETFbitcoin (1)
I have used GREEN, MUUN, BITCOIN.COM etc
Over time my fees start to jump to $2-$3+ randomly.. I search and beg for an option to turn this stupid "privacy" feature of changing my bitcoin address off.
I literally send all my funds to ONE SINGLE ADDRESS yet each bitcoin app I have used INSISTS on changing my funds around causing me headaches and endless fees later.
I don't know who thought this made privacy better, but I can literally track and see where all my bitcoins are being funneled to.
This has done nothing but caused double to triple the fees everytime I go to send a bitcoin transaction. Sometimes I'm lucky if the amount is small enough it only cost one fee.
But when your wallet keeps moving your bitcoins around sometimes it has to pull from multiple wallets and its causing stupid fees!!
A SINGLE bitcoin fee is already getting high enough as is!!!!!
Please can someone tell me a wallet that doesn't have this discusting sickening "feature" that has done nothing but continuously cost me more in fees?
My request is simple:
I want ONE BITCOIN ADDRESS FOR EVERYTHING ALL FUNDS!
If I want my bitcoin address changed, I want to be the one to do it!
This is an issue I've been neglecting to confront, everytime doing a google search not finding much on it. Switched bitcoin apps like 5x now with no luck. They all are doing the same thing without the option to disable! It does not matter if I send all bitcoins to just one address.
This is such a sick sickening "feature" if someone could please assist me I would thank you.
To even suggest it increases privacy is just sick to me to, why when I can click and see where my funds are going? Doesn't make sense.
Regardless of if I'm somehow mistaken (even though I've done it myself on the blockchain?) I BEG to have this feature disabled oh please!
Sorry for some rant but this has stressed me out sooooo much and now the fees are really being felt worse than an ATM!
Over time my fees start to jump to $2-$3+ randomly.. I search and beg for an option to turn this stupid "privacy" feature of changing my bitcoin address off.
I literally send all my funds to ONE SINGLE ADDRESS yet each bitcoin app I have used INSISTS on changing my funds around causing me headaches and endless fees later.
I don't know who thought this made privacy better, but I can literally track and see where all my bitcoins are being funneled to.
This has done nothing but caused double to triple the fees everytime I go to send a bitcoin transaction. Sometimes I'm lucky if the amount is small enough it only cost one fee.
But when your wallet keeps moving your bitcoins around sometimes it has to pull from multiple wallets and its causing stupid fees!!
A SINGLE bitcoin fee is already getting high enough as is!!!!!
Please can someone tell me a wallet that doesn't have this discusting sickening "feature" that has done nothing but continuously cost me more in fees?
My request is simple:
I want ONE BITCOIN ADDRESS FOR EVERYTHING ALL FUNDS!
If I want my bitcoin address changed, I want to be the one to do it!
This is an issue I've been neglecting to confront, everytime doing a google search not finding much on it. Switched bitcoin apps like 5x now with no luck. They all are doing the same thing without the option to disable! It does not matter if I send all bitcoins to just one address.
This is such a sick sickening "feature" if someone could please assist me I would thank you.
To even suggest it increases privacy is just sick to me to, why when I can click and see where my funds are going? Doesn't make sense.
Regardless of if I'm somehow mistaken (even though I've done it myself on the blockchain?) I BEG to have this feature disabled oh please!
Sorry for some rant but this has stressed me out sooooo much and now the fees are really being felt worse than an ATM!
Re: Bitcoin recent boom tracing back to Mt Gox + FTX/celsius/terra
The most dangerous thing you can do when analyzing something is to look at isolated events while ignoring everything else.
Even your zoom in this picture showing the dumps is isolated since the dumps started from November 2021 from $69k not 6 months later in May 2022 from $40k.
Some other events during the same period are:
- Russian invasion of Ukraine
- Increased inflation in US and Europe and pretty much everywhere else
- Euro/USD exchange rate dumping hard for the first time in years
- Increased interest rates
- Recession
- Food scarcity crisis when the export of grains halted globally for a while
- Energy crisis
- Other markets like stock crumbling down (eg. in first week of June which is Celsius on your chart, S&P500 dumped 11%)
- Introduction of a New World Order
- ...
a lot more that has been affecting the global economy in a negative way hence affecting bitcoin price also.
No offence, but it seems you are listing a lot of relatively isolated events to support the argument of Bitcoin's dumping -77.5% from it's highs in 2022. The irony being that in 2014 as well as 2018 Bitcoin dropped -83% from it's highs, so in reality Bitcoin has performed better (so far) within the 2022 bear market than in previous ones, given Bitcoin's bear markets remain part of a 4-year cycle. My point is if inflation had arrived in 2021 during Bitcoin's bull market, I'm sure most (including myself) would of wrongly claimed that inflation is good for Bitcoin, while now many still hold the belief that inflation is bad for Bitcoin, whereas as I stated Bitcoin has performed much better than previous bear markets without inflation and other factors - at least so far and based on the theory that the bottom is now in.
I think we will only know if all or any of these factors above are "bad" for Bitcoin will be price drops lower (in % terms) than usual, which would be <$12K, which remains to be seen. If the perma bears are correct and we will go into a global recession in 2023 and see Bitcoin make new lows beyond the "usual", then sure we can probably say that inflation/recession is bad for Bitcoin. It's not that I'm saying that certain events, whether it be hedge fund liquidations or other global economic factors doesn't have an affect on Bitcoin's price, but I only really see it accelerating in the short-term where Bitcoin price will end up eventually, ie where price was going to reach by the end of the bear market anyway. Without certain events price could have held $30K until November before dropping to $15K for example.
EVERYTHING effects the markets. It only becomes obvious once you look back, but not during
You clearly did not look at the charts at all. No offense but your just full of it.
Re: Bitcoin recent boom tracing back to Mt Gox + FTX/celsius/terra
FTX is not important enough, Im sure I was supposed to be knowledgable about all their stuff but to me they were just another player. Now they are gone I see no reason why it must alter everything for the rest of us, BTC isnt propped up like that reliant on a website or person for their personal integrity. Predictably, the security of both was lacking and failed those who trusted in it. When people point at FTX and say BTC must be blamed its nonsense, I'd say thats a reason to buy when labels are entirely incorrectly placed like that.
Way back Mt.Gox did have an alarming dominance in BTC, very different and long beforehand people pointed out this towering wobbly leaning empire was about to fall and the negative it would be. We also did have a number of incorrect factors at that time, I think one BTC mining pool was nearing 50% or maybe it was a bit lower but either way it was far too dominant to be called a safe scenario. Hopefully BTC has progressed in good times and bad to be more distributed with many legs not just one to stand on for any number of vital trading flows every day.
Musk is a large buyer but also seller, maybe some trade that in order books but Musk isnt really important for change in this space that I ever heard. Strong genuine buying across millions of people is what alters the price long term hopefully forever in a bullish way because people use that purchase where as Musk did little that I ever heard.
Way back Mt.Gox did have an alarming dominance in BTC, very different and long beforehand people pointed out this towering wobbly leaning empire was about to fall and the negative it would be. We also did have a number of incorrect factors at that time, I think one BTC mining pool was nearing 50% or maybe it was a bit lower but either way it was far too dominant to be called a safe scenario. Hopefully BTC has progressed in good times and bad to be more distributed with many legs not just one to stand on for any number of vital trading flows every day.
Musk is a large buyer but also seller, maybe some trade that in order books but Musk isnt really important for change in this space that I ever heard. Strong genuine buying across millions of people is what alters the price long term hopefully forever in a bullish way because people use that purchase where as Musk did little that I ever heard.
Everything effects the markets, so yes FTX has a huge MEASURABLE impact as you can clearly see on the charts.
If you aren't in the US you might not realize how big FTX influence on crypto right now is. As soon as over 5 billion in assets were found, markets reacted and thats what caused the boom. You can directly see that from the first mention of the find and check the charts.
Thats A LOT of happy people with hopes of getting funds back, which may end up just like Mt Gox.
Mt Gox people are very happy to be in the process finally to get funds back.
EVERYTHING effects the markets. It only becomes obvious once you look back, but not during.