Join our Telegram Channel!Get Bitcoin News stories in Telegram × DismissFor the first time ever, bitcoin no longer holds more than half the value of all digital currencies as its market share has been dropping like a rock for the past two months, down from around 80% to now less than 50%.The only time bitcoin has found itself in such a situation is after the MT Gox disaster which led to the loss of some $1 billion and a depressed mood that went on for around two years until the market turned around in 2016 and began a bull run.That bull run was sparked and then accelerated by monetary mismanagement across the world, spanning China, India, Venezuela, Nigeria and many other countries which was in part caused due to a sharp fall in oil prices, leading to high inflation for oil exporting nations.People flocked to the currency to retain monetary value, sending price up and up, above gold.Then, the prospect of a bitcoin ETF seemed within reach, but the Securities and Exchange Commission, in potentially a historic decision, rejected the ETF.

In the meantime, the very heated scalability debate reached culmination as Core and Unlimited went head to head, ending up in a stalemate.buy bitcoin adelaideOnce a stalemate, with its implied stagnation, became known to the market, many apparently began diversifying.tor bitcoin donationMonero had a bull run, Dash, Ethereum, Litecoin, now Ripple, in the process increasing the combined market cap of all digital currencies to an all-time high of nearly $57, seemingly adding $10 billion a week for the past three weeks.bitcoin dripBitcoin too has gone up in the meantime, with the currency now very much mainstream as far as brand name is concerned as it has been featured in front page papers and prime tv news shows.bitcoin godaddy

However, its value increase has been far slower than other currencies, primarily because its utility has been lowered as its capacity is limited.ethereum dangerFees, therefore, have skyrocketed, businesses have diversified, mainly to ethereum, investors have too.ethereum usageIn some ways, the currency is in crisis.It is losing market share, it is losing network effects, it’s far behind in innovation especially pertaining to smart contracts which is giving ethereum a lead in blockchain’s industrial implementation, it’s slow and it has become expensive.Some of this could be addressed in just one week.The developers who signed the Hong Kong agreement can decide to do the honorable thing and uphold their end of the bargain by pull requesting a maxblocksize increase into Bitcoin Core as they promised they would do.Their failure to do so might be one of the main reason for bitcoin’s current predicament, but all this is beating a dead horse as many seem to have concluded why bother with arguing when other coins can give you exactly what you want while being treated like a prince on a red carpet.

So, people are leaving, as anyone could have predicted and did predict.There was always talk that another coin would come that does things better than bitcoin.Well, they might be here now.Does that mean bitcoin has failed?No, it all works, but it could work a lot better and the reasons for why it isn’t will likely become textbook examples of what not to do, of what conventions and norms must be upheld, etc.Bitcoin Price today… what an eventful week we have had!A real roller coaster of excitement when the price kept climbing up so rapidly only to be followed by shock and dismay when the price started to fall like a rock.Not a dull moment in Bitcoin, that’s for sure?There are numerous articles written about the bull run as well as explanations as to why the price dropped so suddenly.A warning was issued to exchanges by the People’s Bank of China – CLICK HERE All eyes on China – CLICK HERE Are you nervous?CLICK HERE Is it a bubble?CLICK HERE No winners for the Bitcoin Price Prediction this week.

Good luck for next week – add your prediction below this video in the comments.Prize for next week is 0,2 Bitcoin.Get a FREE BITCOIN EDUCATION and keep abreast of the news by following Bit-Media Blog, Bit-Media Facebook page and the Bit-Media YouTube Channel – Embrace the new digital economy, do not get left behind!"Been a while since the Bitcoin mempool has been so close to empty.Looks like someone stopped spamming."In just a couple days, the Bitcoin community will celebrate its next block halving.Every four years, as coded by its pseudonymous creator Satoshi Nakamoto, the Bitcoin network is scheduled to reduce coin supply by 50%.In 2012, it went down from 50 bitcoins per block to 25 bitcoins per block, and in a few days, it will become just 12.5 coins per block.Given the coded eventual limit on all bitcoin (the max is 21 million), and this reduction in supply approximately every four years (more precisely, every 210,000 blocks), you might think this means Bitcoin is now even more rare... after all, miners who solve a block will only be awarded 12.5 coins, not 25 as they are today.

Yet just days away from this momentous hurdle for the world's largest cryptocurrency, the price is not skyrocketing.On popular US-regulated exchange Coinbase, Bitcoin is down US $30 over the last 24 hours.Why isn't it skyrocketing in anticipation of permanently lower new coin supply?I don't know for certain, but some in the community are taking a contrarian view of the block halving - they don't like it at all from a technical viewpoint.As Coindesk recently: "One miner ... has expressed serious concern that, when the drop in the block subsidy occurs, it could trigger a chain of events that could lead to an inevitable hard fork.Chandler Guo is the founder of Bitbank, a China-based digital currency company that runs one of the largest mining operations in the world, BW. accounts for approximately 10% of the total hashrate, an impressive feat considering it launched only two years ago.Guo said he fears that if the price of bitcoin does not appreciate significantly before or immediately after halving, too much hashrate will drop off the network due to unprofitable mining, making transaction verification virtually impossible.

As you can probably deduce, Guo is an influential miner due to the sheer amount of hashrate he commands, so his view on this should not be casually dismissed without reflection.Even if this nightmare scenario miner drop-off doesn't occur after the halving, sending the price of a non-functional Bitcoin network to $0, there are problems in the community worth thinking about.It's become a toxic place, for one.Posts are routinely censored or deleted from the leading reddit community dedicated to Bitcoin discussion, causing less censored alternates to spring up.A string of passionate Bitcoin advocates and technical engineers have been replaced by a largely anonymous chorus of troll accounts on reddit and Twitter, where everything from blocksize proposals, to Bitcoin accepting businesses, to media types like little old me get pounded over the rocks relentlessly.Even the community-driven podcasts and shows have taken on a darker turn, leading to interviews where the guest is often mocked or grilled over their technical knowledge of the blockchain.

Some in the community have even quietly speculated as to whether Bitcoin has been a sustained victim of some kind of bizarre astroturfing campaign to make cryptocurrency seem illegitimate.I don't know why any governments or banks would want to make a technology where people mine money in their basement or dorm room seem goofy... I have no idea at all why they would want to discredit such an idea!All of this matters only because currency is, in part, a social network and an acceptance network... and a community.And more recently, I find myself getting drinks with the Ethereum guys, not the Bitcoin worriers.They tell better jokes.Well, okay, they tell jokes.They explain things when you have a technical question, rather than shooing you away or questioning your loyalty to the project.They aren't yet obsessed with the price of their currency, ether.This makes them better at proselytizing their product and their vision of where this industry might venture.A broad overview in today's Guardian, entitled "Blockchain: the answer to life, the universe and everything?", did a phenomenal job of exploring how Ethereum's blockchain - yes, a blockchain completely outside of bitter libertarian Bitcoin loyalist land - might just be able to solve many of society's and many of the business community's lingering problems in the years ahead.