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
What followed was a major selloff (.) as MtGox traders tried to sell their coins and withdraw their funds, Bitcoin’s price crashed from an all time high of $1163 to a low of $387. Many argue ... 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 ... The suggestion that a Mt. Gox sale is behind a series of recent price crashes might be both good news and bad news for bitcoin enthusiasts. The good news is that an anomalous event was behind the ... A database of Mt. Gox passwords was also leaked and publicly available. One theory around the flash crash is that the hacker obtained access to a large sum of BTC by gaining access to user accounts on Mt. Gox. However, due to Mt. Gox’s $1,000 per day withdrawal limit, they were unable to withdraw the stolen BTC at current prices. By selling a ... 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.
MT GOX Whale causes 2018 Bitcoin Crashes! Truth of Binance Hack. Why Litecoin will reign supreme!
#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... 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. 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 ...