Bitcoin Politics Now Affecting Price.
When people start screaming $10,000 + USD bitcoin prices, this is why I'm so skeptical. The current politics of bitcoin is in a literal state of revolution. Things have grown so out of control that it's now affecting the price of bitcoin as big players worry what the future holds. Will we fork? Will we split? UAHF vs UASF? Where are we heading?
In the midst of all this, the bitcoin bullrun climbed to just over $3000. The timing of this "coup" and many people are calling it that, has caused the price to plummet almost $1000, as the price hovers above the $2000 USD price range.
In this MadBitcoins video, Jimmy, Thomas Hunt and Tone Vays talk a little about what's happening.
If this is all news to you, this article can help explain a little about what's going on.
https://bitcoinmagazine.com/articles/bitmain-responds-uasf-another-hard-fork-announcement/
The bottom line is, bitcoin politics is now affecting bitcoin price. If bitcoin forks and splits, which chain will become the dominant chain. Is a split like what happened with ETC and ETH the only solution? The future is sketchy for bitcoin and as long as this uncertainty looms, the price will be affected!
Here is what Max Keiser says! $100,000! https://steemit.com/bitcoin/@tomm/bitcoin-in-one-chart
LOL, the same guy that gave us $1 = 1 START.... Bitcoin started heading down shortly after that announcement. I love Max, but he's like the great MUSH! Run for the hills, he's put the kabash on bitcoin.... I'm half kidding.
Seriously though, anything is possible in this industry! 100,000 could be conservative in the future but until all this blocksize, and split debate is settled, I'm worried about falling prices.
come on.. it cycles.. :)
Yes, prices cycle, and news affects prices. This is a big story. I was honestly surprised we kept climbing to 3000 as this debate continues. This really could have a huge impact on the future of bitcoin.
I'm sure Goldman Sachs had a hand in this with their price targets the other day. Combined with the fork BS and ya, a big shit storm.
It is definitely the perfect shit storm of bad news, and terrible timing. A friend on twitter sent me this link to about the fed rate hike,
http://www.businessinsider.com/the-feds-rate-hike-goes-against-precedent-2017-6
Funny how many things can factor into a market price.
I've heard about these happenings, but not being a big BTC stakeholder I haven't paid close attention. I read that article, however (didn't watch the video because I'm in a reading mindset right now), and I think I'm starting to understand; the mainline Bitcoin people are trying out a new feature, but these Bitmain people disagree with its implementation, so they're going to intentionally fork the blockchain and implement different features on their fork. Does that sound like a correct summary?