Bitcoin Forum

We watched Bitcoin grow from nothing to 4.8 billion market cap today.

Over the years there is always the fear that bitcoin will be banned and it's
value will go to zero. I believe that this speech by the prime minister of
singapore is a watershed moment when no other significant government
will ever ban bitcoin.

The risk of losing out on an emerging industry that is creating value and jobs
is all too real.

http://bitcoinandtheblockchain.blogspot.co.nz/2015/11/significance-of-lee-sian-loongs-speech.html (http://bitcoinandtheblockchain.blogspot.co.nz/2015/11/significance-of-lee-sian-loongs-speech.html)

The risk of losing out on bitcoin is zero. Noone can shut it down, or delete it. On the other hand, risk of spreading FUD is real however.
Sensational journalism is currently bitcoin's no1 problem, i would say.

Even if Bitcoin goes to 0 or close to it, it won't happens overnight, so you will have plenty of time to jump off the boat or adapt to the new situation.

And he is not the only one speaking against BTC while BTC grows bigger and bigger

Nope, I don't think Bitcoin can be stopped.  It will always have a place on the black market as long as people still accept it in trade.  Even if some countries place bans or restrictions on the technology, that will only increase it's value because it will become harder to get for some.

The real question is whether you or I or anyone would recognize that the decline was the end rather than just a pull back and opportunity to buy more at a cheaper price. It's tough when you're in the moment, emotion will take hold and impact decision making.

It's best to know at what point you'd sell out - $200? $100? $50? At what point do you sell all? It's an easy question to answer it's a tough to follow through on.

If bitcoin can grow to 300 billion, like face book.
Then each coin will worth 10K?

Its strange really but the one thing holding bitcoin back is exactly its strength. The Anonymity really stops big players from coming in and taking it up to facebook levels of market cap.

Bitcoin can't be shut down as it is store in multiple computers as public ledger. But if bitcoin loss its charm its value can go to the worst which i don't think will happen in near future as bitcoin is being accepted widely recently and in media for several times.

Actually there is quite a huge risk of losing out on Bitcoin. Bitcoin may never go down to zero again but I can imagine lower double digits, if there is just no further user adoption or maybe another tech, altcoin takes over.
Even things like Google Wallet, Apple Wallet or Paypal might be enough for the normal person to consume or to transact money.
Bitcoin is a risky bet, but with a potential high reward.

Agreed, it is still a high risk investment. Even though it seems to be gaining traction, it can be hurt in a quick and relentless moment.

It does seem to become less risky by every day that passes though, with more and more infrastructure and services being build on top of it.

Bitcoin anonymity might be perception but definitively not reality. Bitcoin is first currency with public ledger, which means everyone can analyze every Bitcoin transaction - nothing is hidden.

It's not simple like that. Mostly, when bitcoin pump altcoin will follow with panic dump.

Then stable again before breakout. Every coin have different spec and innovation, so it can't generally will be worth 10k.

It is very good to hear news as that one. I do not think Bitcoin will easily go to zero either. It is unlikely that it ever will, but still I do not throw away the possibility completely. Almost everything is possible.

Even if every gov on the earth banned it it's value wouldn't go to zero. It would possibly even rise because it will still have use on the black market and that's one thing that bitcoin will always have regardless of mainstream adoption.


Nobody can tell you the value of bitcoin in the future. It's all down to supply and demmand.

bitcoin is still tiny, it count nothing liek a drop in the water, we were at 4B market cap before, going 5B it's like have done nothing

we need to take a farther serious step and move on the 10-50B range for the market cap and then the 50b-100B one, it is still to damn niche as it is right now

Something I can agree with the author that at the moment there is a watershed moment. The other issue is that the watershed moment for some reason happens every year and no end in sight ;D

The anonymity is a myth... the majority of Bitcoiners today, work through some kind of payment processor or exchange and these entities kill all pseudo anonymity Bitcoin might

have had. Once you work through these channels, your privacy is gone and anonymity is a thing of the past. Only a few people know how to stay anonymous to a degree, and

those people do not share this information for obvious reasons. The governments needs the jobs and they also enjoy the tax being generated from Bitcoin use.. I doubt that they

would ban it for no good reason.  ???

There are way more chances of us hitting 1 million dollars per coin than we have seeing Bitcoin go to 0. I would say around 80% of it going to 1MM vs 20% of it going to 0. The fact that governments may or not ban it is irrelevant... we have seen this all before. If they dont ban it then we reach mainstream status, if they ban it Bitcoin becomes an underground worldwide hit, both scenarios would make current holders rich as hell.

Fate  is what u make and Mr Lee has made his fate, disrespecting Great Pilots and Great Australians, Great Americans and side stepping his duty of care for Australian and US citizens not to mention all foreign citizens and Bitcoins founding members is a disgraceful act and until he owns up to his grave mistakes how can anybody show him or Singapore any respect!

Remember all those times that Putin scared people saying they would go to jail with Bitcoin.. well look at the rubble volume in localbitcoins and you will see how useless it is for governments to try to ban it. The volume of transactions has only keep growing after all those years and specially after 2014 the volume increased alot.

However those who know, will always know. FUD doesn't really affect people who try to fight against FUD. People who know how this system works will most likely stick to it no matter what.

That's a good point. FUD really only hurts those who fall for it. It's kinda like terrorism, it works on the fearful but not the brave.

I think there isn't a risk of losing out on bitcoin, simply because it's not possible to delet it or shut it down, it's decentralized currency as known. Even we guess the Bitcoin will develop with time and it will be soon more used and the best famous currency everywhere

No worries about the future of Bitcoin, it's growing up daily and gov can't stop it's fast development

bitcoin can in fact fail and may be abandoned if it is taken over or modified by a third party beyond its original ideology.  there have been some attempts to do it already.  these attempts to "fix" it under the guise of "if we dont do it, it will fail" will continue and get more and more convincing. if bitcoin fails it will be our faults for not supporting decentralized currency and system.

There was no invention in human era that people haven't put down and laughed at! I don't see why would it be any different for Bitcoin!

Let the FUDsters do the best they know, let them spread the FUD! We will make it no matter what people say out there. I mean we have made here until here and many were saying in the past that this won't ever happen. We will do the same in the future.

To shut down bitcoin, you just shut down exchanges, that must be coordinated world wide, but since large banks are mostly coordinated world wide, this is not really impossible

Fiat money can survive without exchanges, since it is the major transaction medium in one country. But without exchanges, bitcoin will have very limited reach. In people's imagination, there is a free market, but in reality all the markets are operated by authorities, even the largest forex interbank market is controlled by the central banks. Similarly, today's bitcoin price is controlled by a group of whale traders and possibly some banks on exchanges

If bitcoin want to survive without exchanges, there has to be an enough large group of merchants accept bitcoin payment and use bitcoin pricing without a reference exchange rate to fiat money, their pricing might derive from the mining cost of each bitcoin

I see no reason for it to drop in popularity in fact it's still increasing and won't stop for a while.