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<p>[QUOTE=&quot;Prime Mover, post: 2684721, member: 38783&quot;]Well, then they are probably horrible &quot;investors&quot; in other mediums as well.&nbsp; If they were doing proper research, they should have been able to at least understand what was going on, hedge their bets, and not be freaking out - you know, what you&#039;re supposed to do as a real investor.&nbsp; This cycle was predictable and it&#039;s a repeat of what happened last year to a degree, and other times in its (short) history.</p><p><br /></p><p>Last year there was uncertainty about the &quot;halving&quot;, where the rate of coins (reward) produced by mining was cut in half, as is part of the programmed schedule within the code.&nbsp; In addition there was the whole uproar about &quot;the scaling&quot;, and the introduction of a competing set of code called Bitcoin-XT.</p><p><br /></p><p>No one knew exactly what would happen with the halving, as this was only the second one since the introduction, so price was all over the map.&nbsp; The majority counted on the halving raising the price by double, but there were plenty who screamed doom because the price would stay the same, miners wouldn&#039;t be profitable, and everybody would give up - i.e. the death of Bitcoin.&nbsp; Needless to say, halving happened, price rose as expected, no death, and you could have made a killing if you understood the mechanics of why it was probable to happen.</p><p><br /></p><p>Then Bitcoin-XT, where a competing codebase was launched to try to tackle an inherent design &quot;flaw&quot; (if you believe it&#039;s a flaw) with the amount of transactions that can be processed in one block.&nbsp; Everyone freaked out, big war going on with the two development camps, price dipped.&nbsp; XT didn&#039;t gain traction, Core kept running, price stabilized and continued to climb once the threat was diffused.&nbsp; Again, could have made a killing if you did your research and watched it closed like you should with any investment.</p><p><br /></p><p>Fast forward to now, and you had the Bitcoin ETF, and now &quot;Bitcoin Unlimited&quot; (or &quot;BU&quot;).</p><p><br /></p><p>The majority rise in price from the &quot;stable&quot; $600-800 range was in lead up to the ETF decision, which everyone knew was coming this past week.&nbsp; Same as the lead up to the halving.&nbsp; ETF denied, and price dropped.&nbsp; Anyone with an investment at a lower level would have been wise to sell part stake and reap the benefits, and stay in at a partial investment in case the ETF was approved, and price skyrocketed.</p><p><br /></p><p>This drop right now is the effect of BU, which is another code alternative to the Core, trying again to address this scaling dilemma.&nbsp; You now have worry that there could be a &quot;hard fork&quot; (same situation as XT) situation, and if BU were adopted it could fork to that blockchain instead.&nbsp; The worry there is not the fork - that&#039;s how the software is designed to work and overcome technical hurdles - but that the split won&#039;t see majority acceptance and you could have competing chains and coins, which would indeed cause quite an issue with the ecosystem.</p><p><br /></p><p>Again, with the right research and understanding of everything, these events should not be of any real surprise to anyone who is willing to put money into this.&nbsp; If you are a blind investor, you will lose.&nbsp; And, rightfully so.&nbsp; </p><p><br /></p><p>As for the scam part, I don&#039;t think it really is.&nbsp; If it was taken for what it is and what it&#039;s supposed to represent, it&#039;s actually a very ground breaking piece of technology.&nbsp; Regardless of the name of the coin - Bitcoin, Ethereum, whatever Alt - the technology that runs it all, the Blockchain concept, has found quite a wide array of uses in the current Financial systems and other government use (just Google about the blockchain and real world use cases).&nbsp; I can give plenty of counter opinions as to why I think it has its uses, and will be here to stay for a very long time to come, if you&#039;d like to debate them.[/QUOTE]</p><p><br /></p>

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