Don't Buy Into the BitCoin Segwit FUD - Use LOGIC
This is my humble opinion on the BitCoin drama. The HF is a story. Contrived with the expressed purpose to cause people to panic dump. There will be no btc catastrophe. We will progress with "business as usual" next month and move on to the next item of fear, uncertainty, and doubt.
It's already started. It happened over the weekend. We saw a massive dump, resulting in further panic, and a huge rebound today. So cliche. So easily witnessed and understood. All the people who panicked just got served by the smart money. This happens time and time again.
Source - LOVE this image
"Is Segwit going to happen? I HAVE to know! I'm going crazy!!"
Does it really matter if Segwit happens or not? Money will be made by traders with or without this story. Is it possible that some of the other participants in the crypto-space want us to get out of good trades? Want us to lose money? Want the typical investor who doesn't understand all this crap and is easily manipulated to sell? And create FUD to get them our of their investments? Absolutely.
Look, as long as there are still trade setups to be taken, and risk rewards there, people will continue to make money off of btc. Fundamentals are important, yes. But what do the charts say? What is the big money doing with their money? They are buying btc. It's all so obvious.
Don't be on the butt end of a Yoda joke
"But what about the hash rate?"
Ok, what about it? I don't care, honestly. There is so much money involved that only an idiot would think that this whole thing could collapse and bring ALL the alts down with it, Seriously, how much money is moved back and forth everyday? How many deep pockets and institutions are heavily involved here? Money is what makes the world go around. Do you guys really think that the miners would just allow this thing to be destroyed?
Protect your coins as you wish, but please, don't buy into the bullshit.
I realize that there are a number of excellently researched and written posts out there about this story. It was my aim to write a quick, concise post about my ideas surrounding the situation.
What are your thoughts? Is it FUD? Is it valid? Do you agree or disagree? Let me know. All comments are welcome.
Emotions can be triggered by fear and panic.
Many people make a lot of money in our market and it happens all the time.
I totally agree with you.
Re-steemed og upvoted!
Thanks man. Emotional trading = getting burned every time.
Yes, the smart ones are winners
totally agree, emotions can be used only between lovers not traders
Fully upvoted
In short, SegWit can flip the incentives for some (bandwidth restricted) miners such that they benefit from not downloading or verifying the transaction signatures. For a user, this causes a SegWit transaction to be less secure than a non-segwit one. A non-SegWit transaction is secure with the assumption that no attack is able to obtain more than 51% of the network hashrate. With SegWit, this becomes 51% - (percent of miners with flipped incentives).
If 20% of miners end up in a situation where they are not downloading signatures because it is more profitable for them not to, a 31% miner can attack the network effectively. Security becomes 51% - X.
The bigger problem is that it is very hard to estimate the proportion of miners with this flip in incentives before their portion grows too large and an attack occurs. This basically means that SegWit transactions will always be less secure than normal Bitcoin P2PKH transactions. Even if just by the smallest bit, this is what fundamentally breaks the fungibility of Bitcoin.
https://steemit.com/bitcoin/@kyle.anderson/fork-christ-s-sake-bitcoin-is-going-to-fork-is-segwit-bitcoin-whose-side-should-i-be-on
Haha, right on point! Drama Drama Drama...
This is absolutely correct !!
FUD a million!!! That's my vote.
This post has received a 0.83 % upvote from @booster thanks to: @shawnfishbit.