RE: Poloniex broke?
I wasn't saying it's not important. Just gave a few reasons why it's possible people are not reporting on it.
There would need to be some general comparisons made to see its real impact. For example when Silk Road 1.0 was shut down, how many exchanges were there realistically? Definitely not as many as there are now.
How many coins did silk road hold as a percentage of the market cap? Remember the BTC market cap has grown tremendously since then.
Also, why would it necessarily send Bitcoin down? Like the points given above, BTC was a smaller community then and so the coin would have lost value if even a few big players decided to exit the currency while taking a hit on BTC because they thought the sky was falling. Is it possible that it's happening now, sure. But, I can't just assume that.
You bring up an interesting point for sure because while people keep pointing to BIP 148 as the reason for falling, I wonder if that's true because BTC dominance has gone up since June. Could you have pinpointed the issue here?
Possibly.
Of course the bitcoin fork is part of it too. 2017 is different then 2014 a lot more people involved in crypto investing. Do i see bitcoin going to 150? I highly doubt that. When ethereum forked around 25% went against the fork. It sent ethereum down to 6 dollars. Its going to depend on how many miners don't like it. If ethereum only had 5% leave then I don't think it would of went down as far as it did. It could be 50% or it could be 5% for bitcoin. If its 5% and most of the miners love segwit, I think people wont be afraid of the fork as if it was 50% and investors will move back into bitcoin. I want to see what happens after the 1st not just for the fork but also these exchanges( can they start paying out withdrawals?) and what the government is going to do with the seized coins from Alphabay. This is first time I have moved out crypto currencies. Some of the coins I have invested in I realize are not for real and just imo scamming people. They are using their own workers turning them into co founders of the same idea with a new title collecting ico money from us.
I have a lot of articles to write for the steemit community. I do want to talk about the positive impact some projects will bring in the future. Steemit is going to be great. I know a hand full of other coins I believe will actually revolutionize the market and are ran by real teams with very intelligent people that wont run off with the ICO money and come out with a product that I think will make billions of dollars. Right now i want to focus on what is going on with all these uncertain situations and dig up as much info as I can for everyone so we can figure out what is really going on. After aug 1st, I will talk about what coins I do and don't like. As for right now I wont talk about any coins because I think the market will continue to fall and imo its a good time to be patient and wait for the dust to settle.
I am looking forward to reading your perspective. From your writing I can tell you think deeply about this subject and am always open to different points of view, especially when lots of thought is put behind them.
This is an interesting statistic and I can even see how it would relate to the Alphabay situation too. Would really like to find the percentage of the BTC market was impacted by it.
Keep the thoughts flowing!