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A comment on Ask HN: Your predictions for 2018?. Parent comment

Re:Ask HN: Your predictions for 2018? by jjoe on Tuesday December 26, 2017 @07:34AM (#16008327)
> We will have a big Bitcoin crash, there will be a drastic correction on the price of crypto, specially when you look at what might be driving the current raise in value for Bitcoin.

What do you think is driving the uptrend?

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Re:Ask HN: Your predictions for 2018? by allanmacgregor on Tuesday December 26, 2017 @07:48AM (#16008368)
Right now Bitcoin value is purely based on speculation, and interestingly enough the more the price of Bitcoin increases the less usable it becomes as a payment method.

Also there is some concerns that the bitcoin price is being artificially inflated by the people behind Tether, here is some related reading:

- https://www.bloomberg.com/news/articles/2017-12-05/mystery-s... - https://seekingalpha.com/article/4129543-bitcoin-one-way-go-...

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Re:Ask HN: Your predictions for 2018? by wu-ikkyu on Tuesday December 26, 2017 @10:02AM (#16008840)
Was reading more into Tether and I thought this was interesting: Tether Default Swaps

https://www.reddit.com/r/Tether/comments/7lx3bw/introducing_...

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Re:Ask HN: Your predictions for 2018? by jjoe on Tuesday December 26, 2017 @06:10PM (#16011646)
> Right now Bitcoin value is purely based on speculation

That isn't factual. Analysts have found an almost perfect correlation between new wallets growth and btc's price. Transaction clearing delays will be fixed. Give it time.

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Re:Ask HN: Your predictions for 2018? by allanmacgregor on Wednesday December 27, 2017 @06:10AM (#16014106)
> Analysts have found an almost perfect correlation between new wallets growth and btc's price.

The question here (at least to me), is what all those new wallets are doing with their bitcoin, what percentage of the community is actually using bitcoin as a currency vs an "investment" and they are just holding.

Now, this doesn't mean that I don't believe in Bitcoin or Blockchain tech for that matter, quite the opposite.

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Re:Ask HN: Your predictions for 2018? by jjoe on Friday January 05, 2018 @03:15AM (#16077310)
Right now high fees are halting usability. But LN should ease that and encourage wallet owner to transact more.
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