The fact a Mt. Gox selloff and Silk Road old wallet selloff crashed the market means Bitcoin suffers from the very thing it swears to destroy: centralization.
The fact that 3% of all Bitcoin wallets hold over 97% of all the Bitcoins should be a red fucking flag to any potential investor. And three times we've had this affect the price negatively. First was the Bearwhale who said he would crash the price 90%, and did it. Then we've had the Mt. Gox trustee selloff. And now we've had the old Silk Road wallet whale sell off. What's next? Satoshi wallets move one Bitcoin and everyone panics? This is beyond reasonable. The tech is "solidy" (can't forget those 50$ fees now can we) but the way its shaped is nothing but a piramid scheme where any of the old guys can fuck every single new guy and buy back in at a better price.
Today BTC price dropped 6% due to $30M of blacklisted tethers. When the whole tether scam blows up, we will see the biggest crash since Mt Gox. Theory: BTC users wont be able to send TXs due to congested blocks. It will be a huge blow. BCH may come to rise after the debacle as the true Bitcoin.
BTC will be unusable during this next Mt. Gox-level catastrophe. 1MB blocks will be a huge blow to BTC during this time. All coins will crash, in response. But at least coins like BCH will still be able to process transactions. This will prove invaluable and people will see the stark difference between a network (BTC) that is more ground to a halt than we've ever seen before, and a usable network (BCH).
Wall Street Manipulationulation, a Mass Influx of Turkey Gobblers, Mt. Gox-like Speculative Crashes, but no mention of Steam dropping your obsolete coin. r/Bitcoin fundamental analysis at its finest. HODL
Arguably the first major Bitcoin crash happened between June and November 2011. In just a few months, 94% of Bitcoin’s value evaporated as a direct result of the Mt. Gox hack. Mt. Gox was a Bitcoin exchange based in Japan, handling over 70% of all Bitcoin transactions worldwide during its peak. MtGox Phoenix Rises – Exchange May Become Solvent if Bitcoin Price Keeps Rising Mark May 9, 2017 It seems that the recent price hike may give MtGox creditors a chance to recoup their losses. Bitcoin's volatile history in pictures The fall of MtGox. The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins ... Yesterday has been a day that turned out to be brutal even for the hardcore believers and HODlers. Bitcoin was in free fall as the price tanked to $3,850, the new 2020 low last seen in early March 2019.. In a matter of 4 hours, Bitcoin price went from $6,000s to $3,000s while it took 2 weeks for the price to have the same route in 2018. In the opposite scenario, again in an hour, the price was ... Shortly after, Mt.Gox CEO Mark Karpeles resigned from the Bitcoin Foundation, and the Mt.Gox website was reduced to a blank page. On February 28, Mt.Gox filed for bankruptcy, saying that they had lost about 750,000 of customers’ BTC and 100,000 BTC of their own in a security breach.
GREAT NEWS! Mt. GOX To DUMP 150,000 BITCOIN. Market CRASH ...
Mt Gox still haunts us and is contributing to the panic sell-off happening in the market right now. Mix that with fear and uncertainty about what happens next for Bitcoin and you have the perfect ... Mt Gox CRASHES Bitcoin and Cryptocurrency Market! ($500m Selloff) - Hello everyone, todays video is about the March 7 Bitcoin Crash. The cryptocurrency market has gone through quite a crash today ... Close. This video is unavailable. #315 Mt Gox Bitcoin Preis Crash Bitcoin Informant. Loading... Unsubscribe from Bitcoin Informant? ... Bitcoin is "Crashing" Again... Why I'm Not Worried - Duration: 8:43. Alessio Rastani 67,284 ... Mt. GOX To DUMP 150,000 BITCOIN. October 15th will be the decision day. Will this lead to a Market CRASH or BIG OPPORTUNITY? ALSO, 50% of Americans Retire i...