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RE: Will Bitcoin Surge Upward Again in the Near Future? CME Futures Price Curves Say “No”.
This is exactly how the banks manipulate the silver and gold markets but it won't work with bitcoin as the lightning network will provide incentives to nodes bringing increased privacy and faster transaction times with it.
Yes @safetony, it does look like the strategy used on gold and silver is going to encounter some "new variables" with bitcoin.
For one thing, it is so easy to think that the action is all happening here in North America + Europe, when that is not so at all.
If the Chinese gov. ever figures out how to get the amount of gov. control they need and let go off the tight reins they are now holding, and the Chinese population gets back into bitcoin more seriously, it will mean that we in the West will be just the "second string team" when it comes to driving the bitcoin price. In that scenario, the strategy used to "manage" gold and silver will have a few problems!
Cheers.
Bitcoin is a protocol and can be improved, with new things being built on top of it I think once the lightning network gets rolled out the price will start to soar again. We just need to get people looking past short term interest as it's the politics not the tech that is the problem.
Thanks @safetony. Do you have a guess as to when the rollout of lightning will happen (about what time window in 2018)?
well how long did it take to get segwit lol but that was what we needed as a stepping stone to get to the lightning network I would imagine 6-9 months from now we should have it.
Thanks! I will strategize with your time window in mind. I am guessing, e.g., that LTC might take a big "hit" (perhaps temporary) when the Big Boys sense the lightning roll out to be imminent.
Do yu have any thoughts on what other coins might be greatly hurt or helped by that rollout?
P.S. I am now following you. Do let me know of any post you make that could be very helpful, and thanks in advance.
I think LTC will continue to do well as it has a more unified development team and 2minute per block average.
Personally I like NEM as it seems the most feature rich and useful https://steemit.com/cryptocurrency/@safetony/10-reasons-why-i-love-nem
I will hop over to your post now; but am happy to tell you that I have been “on board” both of them for a few months, based on my studies of their technical aspects. I have no plans to sell; but am concerned that LTC's developers keep moving along during the time we do not have lightning, so that when lightning rolls out LTC will still look technogically competitive.
I have switched some money over to monero from litecoin as I do think a privacy coin is worth holding as when tax regulation gets rolled out a lot of people will jump into them and if dream drug market goes down or starts to accept monero that will also help see an uptick in users