For those new to #bitcoin, here are some history of its price.
Thread: 1/8
2) #BTC hit $30 ATH in June 2011, from $0.30 in Jan 2011 (100x in 6 months ish).
Then "crashed" 90% to $3 (still 10x of before).
Then took just about 2 years to recover back to $30 in Feb 2013.
Looks familiar? Then...
3) 2 months later, in Apr 2013, $BTC hit a new ATH $213 (7x).
Check how big the previous $30 ATH looks.
4) There was also a "crash" to $70 from $213 during 2013.
Then recovered to back to $200+ in Oct 2013. (small 1 year cycle)
Then 2 months later, by Dec 2013, #btc hit another ATH at $1000+. 5x in 2 months.
5) There was another "crash" from $1000 to $200, and took about 3 years to recover back to $1000 in Feb 2017.
This is the cycle when I entered. Sold my house to buy $BTC at $600 in early 2014. Felt I was way late. It dropped to $200. Had to endure 2 years for it to recover.
6) Of course, many of you know what happens next.
10 months later, in Dec 2017, $BTC hit the "famous" ATH of $20,000. (20x in 10 months)
7) Most of us know that #bitcoin died many times in the last 3 years. "Crashed" to $3000.
But 3 years later, almost to the day, #btc recovered to $19700.
And we emerged from winter finally.
8) And now.
What's going to happen next?
I donno. You tell me?
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STEEM thread. I was hoping not to be involved, but alas, doesnโt seem to be possible. I did approve the vote from Binance, thinking (wrongly) it was a regular upgrade/fork. For that, I apologize. Guess it is only fair that I get involved until the issue is resolved.
I am not an expert on STEEM, as you may (wrongly) assume. We deal with hundreds of projects/blockchains, each have their own consensus/vote/delegate/witness/staking/... mechanisms. Canโt know them all. So, please excuse some noob questions/comments.
Q1: Justin Sun claims that some witness froze his 65m coins, not just blocked from governance, but not even allowed to transfers. This has happened on Feb 22. Is it true?
One of the market data pushers had issues, matching engine was fine, no data loss or corruption (other than market data). Working on it. Should be fixed soon.
The difference between the 2017 #altszn and the next one is that this new one won't just have whitepapers. Projects in the next #altszn will have products and users.
They are still risky investments, but the industry is much healthier now.
1/10 A few points. Most of you may not know the final outcome of my dispute with Sequoia, but it is public now. In summary, the arbitration tribunal dismissed all of Sequoia's claims.
2/ I won, but the case was very damaging. First, Sequoia took out an injunction against me which prevented me from raising finance for Binance at the end of 2017 which was a critical time in the market and when there was huge interest in Binance from other VCs and investors.
3/ The injunction and Sequoia's serious allegations against me were made public, but I was not able to publicly defend myself because the arbitration was confidential.
pros: 1 we could "revenge" the hackers by "moving" the fees to miners; 2 deter future hacking attempts in the process. 3. explore the possibility of how bitcoin network would deal with situations like these.
cons: 1 we may damage credibility of BTC, 2 we may cause a split in both the bitcoin network and community. Both of these damages seems to out-weight $40m revenge. 3 the hackers did demonstrate certain weak points in our design and user confusion, that was not obvious before.