Bitcoins

[123]

Originally Posted by Kent99

What do people think about the possibility of a flippening? ie ETH having a bigger market cap than bitcoin and bitcoin becoming the altcoin. I think it will happen this year.

Maybe but Bitcoin is still regarded as the store of value standard. Not sure if it would happen before the upgrade to ETH 2.0

[bwhhisc]

Bitcoin vs. Ethereum: What's the Difference?
part of article from Investopedia

here is line to full article
https://www.investopedia.com/article...t-purposes.asp

Bitcoin vs. Ethereum: An Overview

Key Differences
While both the Bitcoin and Ethereum networks are powered by the principle of distributed ledgers and cryptography, the two differ technically in many ways. For example, transactions on the Ethereum network may contain executable code, while data affixed to Bitcoin network transactions are generally only for keeping notes. Other differences include block time (an ether transaction is confirmed in seconds compared to minutes for bitcoin) and the algorithms that they run on (Ethereum uses ethash while Bitcoin uses SHA-256).

More importantly, though, the Bitcoin and Ethereum networks are different with respect to their overall aims. While bitcoin was created as an alternative to national currencies and thus aspires to be a medium of exchange and a store of value, Ethereum was intended as a platform to facilitate immutable, programmatic contracts, and applications via its own currency.

BTC and ETH are both digital currencies, but the primary purpose of ether is not to establish itself as an alternative monetary system, but rather to facilitate and monetize the operation of the Ethereum smart contract and decentralized application (dapp) platform.

Ethereum is another use-case for a blockchain that supports the Bitcoin network, and theoretically should not really compete with Bitcoin. However, the popularity of ether has pushed it into competition with all cryptocurrencies, especially from the perspective of traders. For most of its history since the mid-2015 launch, ether has been close behind bitcoin on rankings of the top cryptocurrencies by market cap. That being said, it's important to keep in mind that the ether ecosystem is much smaller than bitcoin's: as of January 2020, ether's market cap was just under $16 billion, while bitcoin's is nearly 10 times that at more than $147 billion (stats as of June 2020)

[bwhhisc]

They are saying the 'whales' are pushing the market and buying on the dips.

[Kent99]

So where can I find this info?

[123]

Originally Posted by bwhhisc

They are saying the 'whales' are pushing the market and buying on the dips.

I hope the big whales will pump BTC soon, if that happens lots of money will be made

what worries me a bit is that Grayscale shares are reported to be unlocked next month and that could cause a huge market dump and there is also selling pressure from Chinese miners that have to relocate from China.

https://www.coindesk.com/grayscale-u...-jpmorgan-says

All of this could cause further dips but once that is over and no negative news are seen(e.g. Stock market crash) we will hopefully pump before the stock market crashes or we enter global economic depression.

If we look at historical trends BTC is currently undervalued but it's not the safest time to invest at the moment.

[bwhhisc]

Originally Posted by 123

I hope the big whales will pump BTC soon, if that happens lots of money will be made

what worries me a bit is that Grayscale shares are reported to be unlocked next month and that could cause a huge market dump and there is also selling pressure from Chinese miners that have to relocate from China.

https://www.coindesk.com/grayscale-u...-jpmorgan-says

All of this could cause further dips but once that is over and no negative news are seen(e.g. Stock market crash) we will hopefully pump before the stock market crashes or we enter global economic depression.

If we look at historical trends BTC is currently undervalued but it's not the safest time to invest at the moment.

Saw the dip, not unexpected i guess with what happened with the Bitcoin ransom being hacked back by the Feds...but Bitcoin seems to be creeping back up and with it should come the others.

[123]

Originally Posted by bwhhisc

Saw the dip, not unexpected i guess with what happened with the Bitcoin ransom being hacked back by the Feds...but Bitcoin seems to be creeping back up and with it should come the others.

I don't think that hack would explain the dip. Bitcoin network was never hacked from what I understand they hacked a cloud server that was used by the hackers.

Would be like saying Google was hacked because you stored your Google passwords on a server and someone hacked the server and used the passwords to access your Google account.

[bwhhisc]

Originally Posted by 123

I don't think that hack would explain the dip. Bitcoin network was never hacked from what I understand they hacked a cloud server that was used by the hackers.

Would be like saying Google was hacked because you stored your Google passwords on a server and someone hacked the server and used the passwords to access your Google account.

I'm not saying hacked, but the US Government somehow got into the hackers wallet and retook some of the bitcoins that were paid as ransom and i think that put the "secrecy" issues into question.