This is my humble opinion on the BitCoin drama. The HF is a story. Contrived with the expressed purpose to cause people to panic dump. There will be no btc catastrophe. We will progress with "business as usual" next month and move on to the next item of fear, uncertainty, and doubt.
It's already started. It happened over the weekend. We saw a massive dump, resulting in further panic, and a huge rebound today. So cliche. So easily witnessed and understood. All the people who panicked just got served by the smart money. This happens time and time again.
Source - LOVE this image
"Is Segwit going to happen? I HAVE to know! I'm going crazy!!"
Does it really matter if Segwit happens or not? Money will be made by traders with or without this story. Is it possible that some of the other participants in the crypto-space want us to get out of good trades? Want us to lose money? Want the typical investor who doesn't understand all this crap and is easily manipulated to sell? And create FUD to get them our of their investments? Absolutely.
Look, as long as there are still trade setups to be taken, and risk rewards there, people will continue to make money off of btc. Fundamentals are important, yes. But what do the charts say? What is the big money doing with their money? They are buying btc. It's all so obvious.
Don't be on the butt end of a Yoda joke
"But what about the hash rate?"
Ok, what about it? I don't care, honestly. There is so much money involved that only an idiot would think that this whole thing could collapse and bring ALL the alts down with it, Seriously, how much money is moved back and forth everyday? How many deep pockets and institutions are heavily involved here? Money is what makes the world go around. Do you guys really think that the miners would just allow this thing to be destroyed?
Protect your coins as you wish, but please, don't buy into the bullshit.
I realize that there are a number of excellently researched and written posts out there about this story. It was my aim to write a quick, concise post about my ideas surrounding the situation.
What are your thoughts? Is it FUD? Is it valid? Do you agree or disagree? Let me know. All comments are welcome.