Hello Decredians, The Decred Airdrop is near and I can almost feel it. So, will the initial release of Decred affect,increase or decrease the price of Bitcoins and other altcoins? If so, how will it be effected?
Hard to say, though based on the current development after Mike Hearn gave up on Bitcoin- it looks like a lot of people are jumping ship.
Hearns is working for Etherum now. Bitcoin is too established to fail at this time. Australia on board now which was a big roadblock. Let Bitcoin continue growth......at least until launch, then whatever.
Thats what I think. The current drop in bitcoin, boosted or even caused by Hearn's exit will most likely be temporary.
Just representatives of Big banks feeling the pinch, and pumping money in to try to kill it. They know they are losing control, status, and a lot of income, so they TRY. Unfortunately you can't kill technology or progress. Bitcoin will be back to 430ish by the end of the weekend if not sooner. Just my opinion from analysis of data. Could be wrong about timing, but I highly doubt that I'm wrong overall.
I think the correction my be a bit deeper and longer then that. But I doubt it will fall below $300. There are too many people that see that as a "deal" point that would come in.
You may be right. People, in general, are panicky animals, and not too bright. They fear MT. GOX repeat because of Cryptsy, so they dump Bitcoin to "cut their losses". If they thought it through logically, they would realize the faith in Cryptsy should be diminished, not in Bitcoin. Either scenario I'm ok with. At the end of the day crypto is undeniably the next state of our financial system. It only requires two basic elements for a currency to be successful. Awareness of and confidence in the currency. Bitcoin has already established this globally, and paved the way. Now it's our turn. We must promote heavily to the mainstream.
For the first few weeks after releasing Decred, i think it will not influence the price of BTC. Bitcoin it's pretty "known" now in the world. Decred must have an efficient marketing system to gain users and most importantly Thrust EDIT : And seems that many people are interested in this project. We can see from the very begining that the devs have a professional attitude. Keep on
Which they will regret long term. Hearn's is a sellout, going to work for the establishment Bitcoin was designed to circumvent. Cryptsy was a big part of decline as well. For many of those who have "jumped ship", others have moved in to take their place. Mike Hearn's is NOT bitcoin. He is promoting his own personal agenda since selling out. Multi-million dollar profit = failure? I want to fail miserably then.
I see the fall of bitcoin being bad for the Decred. I think it has a lot involved in that bitcoin will only migrate to Decred over time, the more the decred is disclosed and presented in a unique and differentiated way the market wants .... it will settle.