Bitcoin Forum

"We are often absorbed by the get rich quick hype forced on us by past successes of the few that were lucky enough to find and keep what was once considered nearly worthless.

In the 80's and early 90's we saw just that. Before the 80's sports cards were pieces of cardboard packed in with a stick of gum. They were worth nothing and often used in the spokes of bicycles, stored in children's wallets or glued to cardboard and hung on the wall. Their destruction had a whole lot to do with their later financial success. The initial distribution was minimal and with an added destruction along with a fascination for childhood memories the price rose fast on those worthless sports cards that still existed. This was the start of the sports card bubble of the 90's. Demand grew because people were cashing out big profits on something that people considered garbage ten years earlier. This caused a sudden increase in investments in sports cards produced in the early 90's with investor hopes that their purchases would produce a future fortune. Unfortunately as demand grows so do the companies and their production. People bought the overproduced cards of the late 80's and 90's, barely touching them, they took the cards from the packs and put them directly into cases, or sports card specific storage boxes, keeping them in mint condition. Since these cards were over bought and over produced and in perfect condition they are now worth close to nothing.

Not long ago we witnessed something very similar. Before the digital currency craze their was just Bitcoin. Thousands of these digital tokens were used to purchase a pizza or a drug dealer used Bitcoin to purchase narcotics online. Many were stored on hard drives but eventually a lot of these hard drives were lost or thrown away. With a fixed and limited amount, and many lost or misplaced, all of a sudden the price of Bitcoin started to rise nicely bringing some very lucky individuals fortunes overnight. As the demand grew so did the variety of coins and the production of these alternative coins skyrocketed to meet demand. People bought the coins and put them directly into cold storage hoping for their future fortune. Like sports cards of the 80's and 90's, few have been lost or destroyed and they are being over produced and over bought. Alternative coins will never match Bitcoin because the distribution will never be as perfect as the distribution of something that initially had absolutely no value. There will never be a more technically advanced digital token that can take this particular characteristic away from Bitcoin, the perfect initial distribution. The perfect digital gold."

Source:
https://www.linkedin.com/pulse/why-better-tech-cant-kill-bitcoin-thomas-bartsch?trk=prof-post

^^Finally! Someone clearheaded enough to grasp that bitcoins are like any other collectible with artificially limited supply.
Like sports cards. Like Beanie Babies.
As if bits being traded on Magic: The Gathering website* wasn't enough of a clue :D
*Mt.Gox

Like gold.

Well no, not like gold.
Gold has a naturally (not artificially) limited supply. No matter how many people come to a consensus to increase gold supply, it can't be done. 21 million coin cap can be changed via a soft or a hard fork.
That said, you're partially correct. Gold gained its value because TPTB (ancient kings, warlords, chieftains, whatever they were called) once used it to measure their might. It was difficult to get & couldn't be easily counterfeited, so a natural choice. So much of gold's value comes from tradition -- its history, thousands and thousands of years being used for dicksizing by TPTB.
Unlike Bitcoin's 7-year history of not being used by anyone of consequence :)

It was a comparison between the sports card bubble and the altcoin bubble.  Had nothing to do with comparing bitcoin to beanie babies or sports cards.

Its not entirely there for gold, but it could be in the right direction for it.

As long there is a massive amount of buy orders and contain a or keep increasing in volume, building bitcoins value is similar to building like the s&p500

Pro tip: If the poster has less than 50 posts they are a troll.

Because bitcoin is completely unlike altcoins, and the bitcoin bubble (good times, good times...) was totally different?

@spazzdla: Conversely, anyone with more than 50 posts is an overinvested shill. How about focusing on the content, without resorting to catty ad hominems?

So bitcoins to you are a fad  ???
Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange.

I actually a) don't agree with the premise and b) don't like the idea that bitcoin can't be killed by better technology.

I can imagine people flying in Zeppelins over the Atlantic in a week or so, thinking that planes might be faster and better, but newer better technology can't destroy the Zeppelin.

I thought Bitcoin was about innovation and an improvement on the old system of fiat money.  By ignoring or denying further improvments, you are going against the idea of Bitcoin.
I am not saying that the future is here, and that current generation Alts can replace bitcoin, but if and when something comes along that is actually better than Bitcoin, I will sell up and move to that instead.

First, you have to understand how an exchange works.
An exchange doesn't pay you for your BTC, it simply matches the buyers with the sellers, just like eBay matches BTCeanie BTCabies buyers and sellers.

So yeah, BTC is only valuable to collectors. No different from Sports Cards, Beanies, or Litecoins, or Feathercoins, or BBQ coins, which all claim to be money.

Edit: Sorry, misread "It is the exact same value to everybody at that given time of the exchange." as "on an exchange."
What do you mean by "It is the exact same value to everybody at that given time of the exchange"?

If I sell you 1 BTC for a dollar, that would magically make all BTC worth $1? Or?

Not on an exchange. I should of said at that given time or the transaction in a "trade". My mistake in that wording.
But yes 1btc for a dollar - AT THAT GIVEN MOMENT! What else would dictate what it's value is? It is uniform for everybody across the board no matter what  ::) That is the function of the market price.

The idea is better technology can come along but that technology will not kill bitcoin. There will be many tokens in the future with different uses but many of these tokens, if they survive, are likely over bought and over produced.  For example, there will never be one blockchain or distributed ledger. We are already seeing private versus public, and different utilities like smart contracts and bridges. The interledger protocol by Ripple could be key to connecting the thousands of ledgers that will exist.

I believe bitcoin is and will be digital gold.  I think the hype behind bitcoin's world dominance as the one world currency is ridiculous and was produced by speculators trying to overhype bitcoin by raising its potential market cap through these crazy thoughts.  Gold is a 7 trillion dollar market, if bitcoin were to just take a small portion of the market one bitcoin could be worth tens of thousands of dollars.  

This 'collectible' has a lot of practical uses.
That in itself sets bitcoins apart from sports cards.
Of course, I agree that all the alts have no hope of replacing bitcoin.

I would call bitcoins as digital gold as gold has earned its value in years while bitcoins is something new and not known worldwide too. Though it has gained recognition since 2013-14, some people still aren't completely aware that it exists. The future may be even better and we may use crypto currency that may have many advantages or disadvantages too like bitcoins and we would need to move on then. Just like few years back the people who preferred using fiat instead of Debit cards moved on to bitcoins, they would be open to adopt a new currency. Bitcoins, as of now, can die anytime soon as it's totally dependent on supply & demand.

Re. "not on an exchange" -- see my edit.
Re. "But yes 1btc for a dollar - AT THAT GIVEN MOMENT!" -- how is this any different from selling Sports Cards or BTCeanie BTCabies or the Brooklyn Bridge? The price is always the price, "AT THAT GIVEN MOMENT," between the parties involved in a given transaction.
???


Sure. So do all collectibles. You can always use Degas' loli dancer bronze as a doorstop, or use sports cards to shim a chair that rocks. That's not where most of the value lies, tho.

Anything can be collectable but bitcoin also has utility (actually has better utility than gold).  It has proven to be a "hedge" against financial dilemmas. I personally don't plan on stocking up on beanie babies during the next financial crisis.

It might right,better tech will not kill bitcoin,but i'm sure btter tech if have similar technology and better transaction,it will kill bitcoin smoothly,not kill all bitcoin us to stop use bicoin,but i'm sure bitcoin will lost many users.

therefore inversely related to bitcoin. the higher the technology developed, the higher is the revolution that is developing out of bitcoin. I guess like it

because bitcoin is best of technology, 7 years on, it still has it's own fascination.

That's actually a fair comparison. In 2010 bitcoin wasn't worth much but as time went on and the prices skyrocketed, all of a sudden people want to jump on the bandwagon in hopes of 'getting rich quick'. Bitcoins are a collectible!

So what! Dont you expect the good price for bitcoins in the market as soon as possible. always bitcoin is worth to all...

It depends on your opinion on quick, i reackon in 10 years when i am a millionaire i will reakon 12 years was a get rich quick scheme ......lol  ;D

I disagree and I know how to do it.

Bitcoin is evolving all the time. So the better technology can be adopted by bitcoin to make it better.

Yes, I think some coins may come that work better than bitcoin in some aspects although it is only a surmise!

I don't think so, a technology better than bitcoin in crypto world? Surely no, if it arises it may had adopted the technologies of bitcoin, I think bitcoin has its own way and other alternate coins cannot overrule it.

I'd be down with becoming a millionaire in 12 years of my life. Most people won't be able to do that in their entire lives.

I think I'll start putting in some buy orders at exchanges now...

Bitcoin will inevitably evolve overtime. It's become popular nowadays thus it's demand will be higher. I think when we get to the stage where we are living with robots, bitcoin is the main currency in the world. People love to use stuffs that are famous, because they think they are 'in'.

And also most people of science are pro bitcoin so I doubt that better tech stands a chance to kill bitcoin.

If by "utility" you mean "buy bitcoins with actual money so you can spend it at stores that already accept actual money," you got a point.
As far as being "proven to be a "hedge" against financial dilemmas"? I suppose. If your main "financial dilemma" happens to be "how can I make my financial transactions as complicated as they possibly could be."

Bitcoin is the reserve currency of gambling:

you are right. in fact it could just be the opposite.
today bitcoin currency is best used on the Internet, perhaps the development of technology, the bitcoin will grow. maybe those future use bitcoin as a means of transactions because of its speed in transactions, so maybe this will be in the mix with new technology

Bitcoin is the first to come and that's its best advantage. Nothing will ever surpass it and people have to integrate that. But does the other crypto-currencies have to surpass Bitcoin to exist ? No, they can simply cohabitate.

Right anything too popular cannot be killed so easily, bitcoin stands the first in digital currencies and in most of the people who used other online payments has adopted bitcoin now, so in future its demand again increases.

Speed in transactions? People are ranting about how the confirmations are taking too long. It takes an average of 20-30 mins before the block is mined. This is actually one of the weaknesses of BTCTC. There are tons of transactions going on, meaning there would be some traffic before the coins completely go into your wallet. Nevertheless, I'm pretty sure someone might resolve this issue. Maybe the traffic can't be resolved but people might find a way of coping with the situation of this. For example, after 1 confirmations in blockchain.info, that transaction is already counted as done. :)

You can consider that when sending bitcoins, 1 confirmation means the transaction is done because unlike with other processors, you can't cancel your transaction in BTCTC once you clicked the 'send' button. :D

Bitcoin may of followed gold prices today.

What if we would use all computing power or supercomputers , like bitcoin, to brood force inactive or lost wallets in the future? It would be like real gold mining. You try to crack a wallet long enough and might get your reward. 10k BTC from a lost wallet. Not everybody used multi sig back then. 

Sport cards can be printed like toilet paper, and it's value will go down.. like fiat money printed out of thin air. Bitcoin will never follow that route..because as we know, there are not a infinite supply.

The Alt coins on the other hand, can bring competition to the market, but it's centralized control and the uncertainty of the coin cap, will always be a possible threat or a risk factor. We know where we

going with the supply,and we know how many Bitcoins there will be in the future... no guess work needed.  ::)

This statement is simply untrue, kill is a fancy word - tech happens all the time, who knows if better tech will displace BTC greatly.

The bitcoin is technology based. It will evolve all the time. So it can adopt the new technologies and will not be replaced.

If you ask why,then we gonna answer because that technology not yet appear or founded,lets compare bitcoin with other digital payment,and we know bitcoin was number one in security and easy to acces and lowest fees. then we should know what next technology that can beat bitcoin as better payment and investment,might you all think Etherum can do that?

What's more secure, you ask than bitcoin?

A bitcoin alt using SHA-512 ;D

You know I don't exactly agree of it as a "useless collectible" It does have uses. Will Bitcoin survive as the main cryptocurrency in the long run? We don't really know right now.

There is a lot of future forecasting which we really do not know what will happen to the state of Cryptocurrency in general.

bitcoins already have too much users

so they can not kill it

---

World of Warcraft is a massively multiplayer online role-playing game released in 2004 by Blizzard Entertainment. It is the fourth released game set in the fantasy Warcraft universe, which was first introduced by Warcraft: Orcs & Humans in 1994. playermall.com (https://www.playermall.com) is no.1 world of warcraft marketplace.

It really is an interesting comparison. However in contrast to sports cards, Bitcoin and altcoins are not for collecting purposes only - they have a practical utility as currencies. The reason that Bitcoin is unlikely to be endangered by these altcoins is not that individual altcoins are on oversupply or that these altcoins are not used. The reason that Bitcoin is valuable is also not based on the loss of significant parts of its supply.

The simple reason of why Bitcoin is valuable is that it was the first cryptocurrency. Bitcoin stands out against all other altcoins simply because it was a first mover. The correct aspect of the sportscard - altcoin comparison is that the number of different kinds of altcoins has grown very large. Because individual altcoins are only perceived as members of the seemingly homogeneous "altcoin"-category, every new altcoin adds to the "oversupply of alternatives" to Bitcoin.

ya.ya.yo!

As long as many people are using bitcoin, Techs will never  destroy the bitcoin. As now many people are using it and still adding so in the future bitcoin coudnt destroy

While I agree that bitcoin might not be killed, I don't believe that a more advanced alternative blockchain couldn't overtake the utility and liquidity of bitcoin.  I believe that bitcoin will always have a place in the digital market place but I do not know how it might be positioned in the future as a speculative investment platform.  It seems to me that increased utility leads to increased valuation so those alternatives that offer more utility will also produce better investments.

Let us not forget the lessons learned with the 17th century Tulip bubble!

Bitcoins cannot be killed because this is what people are looking, with the best features on decentralized transaction is all we need to make our money safe keeping it online. How can anymore beat the cheap transaction fee and with the anonymous features that others cannot imitate.

Bitcoin is the ideal money or currency. Its monetary policy is very clear. All finanacial institutions know about that.

It is true that with the advent of Bitcoin, people have grown wiser. No new coin will be able to replicate the initial Bitcoin distribution because everyone is now ready to invest money to mine any new coin that comes out. However the Bitcoin distribution is far from perfect. A perfect distribution would be one where everyone has the same opportunity to accumulate an initially worthless token without requiring any special knowledge. When Bitcoin was launched only a very small group of people knew about it and while it's true that they could not have foreseen that it would get so big (and were thus probably not motivated by monetary gain), they were still the only ones who got to choose whether or not to accumulate the then worthless token/coin.

Exactly. There was a growing concern that Bitcoin was going to kill itself fairly recently with the blockchain capacity issues and then everyone's inability or unwillingness to address it. If Bitcoin is going to keep growing, it has to have he ability to scale transactional volumes, or it will lose out to an alt that can handle the demands placed on it. At this point, bitcoin's biggest threat is probably a failure to adapt to a fast changing crypto marketplace or refusal to innovate for risk of upsetting the status quo it has created.

I think you are on to something with bitcoin sort of being the foundation of the cryptocurrency technology. It is the most well known and oldest and it will have a limited number made. I think it will hold some value for long time.

It seems like that bitcoin is like an antique the older it gets the higher its value. Your comparison of bitcoin to sports cards is explained in a clear and logical manner. But there is a missing piece bitcoin is not a card and a collectible item but a currency. Sports card has no potential to be a legal tender but bitcoin as a currency does. Sports cards can ba manufactured in an unlimited way but bitcoin does a limit. Though there are similarities but their differences is great that will make their future not the same.

No matter how initial distribution is, after a period of time wealth always concentrates in a small number of hands.

That's how it's always been and always will be.

Bitcoin is less than half the price it was a few years ago. It does not only get more valuable with time. It's highly volatile and regularly swings up and down wildly. And secondly, Bitcoin hardly qualifies as a currency because it does not satisfy the stable store of value component of money. The fact that you don't know with any reasonable certainty how much your bitcoin's will be worth in 30 days is a pretty meaningful argument against Bitcoin being a viable currency.

if by KILL you mean wipe if off the face of the earth then no it will never happen and bitcoin can always exist even if it is in a museum!

but a better technology, a better cryptocurrency in the far away future can in fact replace bitcoin and nothing is going to prevent that. but remember that is for the very far future and the technology needs to be new and so much better than bitcoin and bitcoin has to have no room to change or adapt with the new world like in the year 2150

yeah the more users, the bitcoin will be difficult anyway to kill even someone in a large trader would be more difficult to manipulate the price when users continues to grow

These are technical properties and everything you described can be 'upraded' and in fact is being worked on right now.
Early test version of SegWit is already added to the code, we still waiting for it to be accepted and introduced to the retail version of BTC.
Same with Lightning Network and other upgrades patience is a key here - we don't want to add features and risk another DAO situation here.

technology will not be able to kill bitcoin, I think they are a very good combination. maybe in the future the better the technology used then, bitcoin will also be growing. even the Internet is part of the technology, I suppose someday there is a technology that supports the development of bitcoin

Well, technology is also the key if a state wanted to destroy bitcoins (via hacks, transaction spam or even 51% attacks). Technology is only a tool, it can be used for various proposes.

This is what can kill bitcoin, but next to tech you need good marketing. Bitcoin does got a lot of believers and merchants who put trust in it.
A new coin needs to work on that big time.

i doubt that it would be possible to destroy bitcoin in that way, i think that better tech cannot destroy bitcoin because it is impossible to destroy it as this technology is the best i think

Bitcoin is gaining the popularity because it is a strong coins that has a good potential in the future, we are trusting it because it is secure as evidenced by many people trust their money in bitcoins so now better tech can kill it.

Altcoin can't kill bitcoin because Altcoin price is dependent on Bitcoin price, in my opinion.  New  and advance tech would not and will not automatically kill the previous tech as long as the previous tech is functional and updated to catch up with the newest tech or even compete with it.  Bitcoin technology in the same manner is ever advancing to cope up with advancing threat of hacks and exploitation.  Another thing is Bitcoin had set it foundation as fortress that can't easily be taken down.

Although they often move in near-unison, they're not linked. Bitcoin is just the most well-known. When the value of btc rises, it raises the value of everything else too because part of the volume is based on trades between those two currencies. If Bitcoin disappeared, there would likely be another to take its place, it wouldn't be the end of crypto.

The best bitcoin digital currency bitcoin ... I think his price will rise

Altcoin is a different thing because it is independent with bitcoins but since bitcoin is more popular that is why it is mostly compared but with successful altcoins they are unique that is why the succeed, we will see great altcoins in the future when the crypto world will grow, all projects just needs to gain the trust of the investor in order for the altcoins to grow.

The inflationary period of Bitcoin (where new bitcoin's are created) will be over, however, mining will continue. It's just that at that point, the only thing being mined will be transaction fees.

I think any better technology can be used or adopted by the bitcoin as bitcoin is just a currency, many features can be added.

Yeah! and that would be good since bitcoins is not subject for inflation in the future we can benefit from our investment and lucky are those who are on board in the early stage as they are mostly the ones who are benefited much.

The evolution is changing over time who knows if BTC still expand or destroy, nevertheless bitcoin will continue to be used in the next few months or years because of the stability, popularity and usefulness of it.

The better technology will help the bitcoin as the bitcoin is evolving all the time. It can adopt better technology.

As long as Bitcoin is not a standard of defered debt it isn't money. It's a high-risk financial-instrument.

people were reluctant to adopt new ideas and techniques. This resistance may hinder the rate of adoption necessary for Bitcoin to sustain healthy growth. so no alternatives can overcome it now and in future.

agree. I'm not sure if better tech will not affect bitcoin. probably those better technologies will make people see them for a while, and if people realize what tech is better, they will choose whether bitcoin or the other.

let's say some of us, bitcoiners, will stay on bitcoin  ;D

Simple ideas like increasing the blocksize generate so much acrimony.
It would be interesting to see better technology get adopted by the consensus mode.  :P

Well since most bitcoin mining facilities are located in china. Imagine if China's government decides to confiscate all miners and use them to launch a 51% attack. Bitcoin would be destroyed, or at least incapacitated for weeks before deciding a backroll and on which conditions. Each possible solution would crush confidence on bitcoin...

the life of bitcoin doesnt rely on technology alone.  Aside from technology there is this economy that is active in Bitcoin Circle.  If you compare, why are there still native tribes that are untoched by technology?  Simply because there are people who believe in it, live in it, prosper in it and willing to propagate it.  Same thing in bitcoin too.

Transaction spam can be decreased by just increasing the chain higher then the current format - which last time I checked its 1mb.

So it eventually weeds it out, as for hacking - most crucial hacks are only based on social engineering not like the "movies" you see.

I totally agree.Bitcoin has value to everyone and given its high price it is more valuable than gold.
You cant earn gold directly but you van earn,buy or mine bitcoin

You sem to be unaware that gold is mined as well. Also, it's not an apple-to-apples comparison, but anyway you slice it, it doesn't seem Bitcoin is more valuable than gold. An ounce of gold is worth far more a Bitcoin, and the aggregate value of gold is immensely more than the market cap of Bitcoin. So not sure how you're making that judgment.

yeah I think bitcoin have things that are not owned by any other technology weapons that bitcoin can continue to grow and survive. bitcoin has a high price and anonymous. This is not owned by any other technology. so that bitcoin will always be different from other technologies and bitcoin will always persist

Exactly, because bitcoin is decentralized that is why it attract the smart users as they can transact online anonymously. Not only that, due to the less fees in using online transaction that is why in stand out among other payment processors. This is just one platform but with different functionalities.

You are absolutely correct about the fees, but Bitcoin is not very anonymous. Right now the biggest innovations of Bitcoin are it's immutability and openness to everyone and everywhere. 

If you want the anonymous, you can try the Monero or Boolberry. These are the very anonymous coins.

That is right. I also invested in some Monero and the Boolberry before. But I invested more in the XMR.

This is too much. Bitcoin has never proven to be a safe haven to financial dilemma. Bitcoin is risky. Bitcoin is speculative. Bitcoin will decrease in value during economic uncertainty as all the speculators flee to real safety.

Bitcoin has a lot money around it, the big miners are forcing and making some pression at bitcoin price, who makes bitcoin its the community, and all the wishes around bitcoin is to grow, soo no other crypto can really kill the king. Even eth with some potencial to moove up cant go without the community support, as i saw it has limitations and people know its a great coin on the pump and dump all days.

It depends on the further development of the bitcoin. If there is no good development and it cannot adapt, it will be replaced.

i think better tech have some chance to defeat bitcoin but people still not to wait mamy years till they see and new and smart way of payment model

Bitcoin is already a good currency and it can stand alone even without the help of any altcoins and other platform. The people are trusting it and we can see that base on the increasing number of bitcoin adopters. So I would say that it will not be replace since we are growing stronger.

BTCitcoin is free from ownership and not control by any authority and due to this reason it cannot be defeated. On the other hand Etherum is controlled by few multinationals and you can see its growth is not permanent. 

that is only true about the near future of bitcoin. but for a longer time line in 20 years from now or even sooner, there may be a lot of other good technologies that can kill bitcoin and replace it. but also, bitcoin and change too. you can change the code to some extent to adapt with the new changes.

I agree that it won't be easy to "kill" Bitcoin. I don't expect it to die in the next 20-30 years. But between "dying" and "mass adoption" there is a large grey area. And if Bitcoin does not change it won't reach real mass adoption.

The big problem of Bitcoin is its high real transaction cost, because of the resources that are wasted in mining.

That is a problem we are actually still not noticing because miners are not charging the transaction fees that they will charge in 2025 or 2030 when there are much less mining rewards than now. But eventually, if Bitcoin's protocol does not change drastically, transaction fees will be higher than PayPal's.

The problem is that people are looking at the fees. So if a competitor can deliver the same service with much lesser fees (e.g. using Proof of Stake) then Bitcoin will lose ground. It's only a question of time until this competitor acquires the community and network to really compete with BTC.

Correct its not control by any one thats why bitcoin is decentralized. but for ethereum its a scam coin for there is a news about this coin right now..
I dont trust the most ethereum right now Here some news http://cointimes.tech/2016/08/12/etcdao-stolen-coins-frozen-by-exchanges-was-sent-by-ethereum-foundation-developers/

I agree bitcoin is risky to those who don't know how to dance with it.  Just a couple of research and you'll find.  that if you want a huge profit, there is always a huge risk attached with it.  Basically bitcoin give many opportunity to entrepreneur.  Investors and of course regular users or believer.  Saturation is very low, so if you just create a good strategy, you can be very rich with bitcoin.

That is right. It is still very risky to invest in the bitcoin now. But that is the risk worth taking. I bought some bitcoin in early 2013, the price has risen a lot since.

There is a logic in OP statement, we do have some old inventions with limited supply and many of them have very good value on the market. I don't know will soft or hard fork do something about it, but for now limited supply is good for long term investments. It means a lot when we know that in future there will be no coins for everyone.
Everything is a risk, we get out from a house with a risk from getting hit from car or some meteorite to fall on our head. People who risk can gain some profit, others will wait for safe heaven.

The limited supply is just one factor. The bitcoin has to adopt the new technologies and learn from the good points in other coins. Otherwise, people will use other coins such as Ethereum.

There is no competition with bitcoin and ethereum as the price of ethereum is base on the price of bitcoin, look at the current market now and you will see they are both down a bit and that would prove that my statement is true.

it is dumb to invest in altcoins at the moment, the bitcoin price is definitely going to be booming pretty soon so the smartest thing is to buy more bitcoins

The bitcoin price will not rise for the next few weeks. If you want to make some quick profit, you can buy some altcoins such as Ethereum.

it is definitely going to grow in my opinion, bitcoin price was stable for a really long time already so in my opinion right now the only way is up

Bitcoin is risky without qualification. Not if you don't know how to use it, not if you don't know how to dance with it, it is risky, full stop. People speculating in Bitcoin are not entrepreneurs. They are gamblers. Entrepreneurs build a business that generates profit. Gamblers pick a bet and hope it becomes more valuable. No one trading Bitcoin is an entrepreneur.

The price of ETH is not based on the price BTC. ETH is convertible to USD directly. Btc doesn't even have to be involved. Eth's value is independent of btc's. Your analogy is like saying Apple and Google don't compete with each other because sometimes their stock prices go up and down at the same time. It's ludicrous and factually wrong.

you are right to be honest though in the future i think it should be surely going up and in my opinion it is going to make me some good profit

That is right. The price of ETH is not based on the ETC. But when the ETC dies, the money will flow into ETH, the ETH price will rise.

I thought that two are just the same one. They told ETC is the original form of ETH or the best of it. So the owner of this are the same people. If one fall then how can you make sure that the other one will be safe from attacks.

So you have information that price of BTC will be stagnant but ETH will rise for sure? I doubt it. Currently bitcoin market is in the phase of consolidation, soon price will lift off.
Experts prediction that it could reach $700 with no problem this time.


And why exactly we are discussing price and fork repercussions of ETH vs. ETC in last 10 posts?

ETH and BTC cannot be compared because bitcoin is more legitimate and we have proven that in the past, I just have no trust for the future of ETH so I would say it is only good for short term investment or trading because the trend is very predictable and trading in ETH is always profitable.

No way.
Bitcoin will always be the biggest coin.
Its market cap is huge and is consolidating more and more every day.
Its not the best tech that is for sure but there is no way to kill btc.
Bitcoin came to stay!

At the moment there isn't any other coin on the horizont who could beat the Bitcoin. Maybe this will change in the future but not in the near one. Bitcoin is unique phenomenon and it would take very long time for something similar to appear. And it's not just about techlogy I think Bitcoin is in great deal also social phenomenon.

well i guess you are right, but over time i think that anything might happen, and to be honest even already there are coins such as monero or ethereum that has a lot of potential

in my opinion it should be only the question in time when bitcoins get replaced by some other currencies that have a really great technology, so i wouldnt put too much expectations into bitcoins for the future

even though there is a huge chance that it is going to be replaced by something else in the future i honestly hope that bitcoins are still going to grow a lot, because i have some small amount of bitcoins now that would make me some money

If the bitcoin is developed properly, it can always adapt to the new environment and use the latest technology.

That is right. I think the bitcoin price will rise, so it will attract more investors and users and it will be developed further.

Perhaps the bitcoin might face a new technology and need accept these changes, but like everything it depends on the community you might say that their whole existence depends on value and respect the community some may see it as investment other people as currency,so that they stop using entirely it may take years.

If there is a new technology which can improve the efficiency of the bitcoin, then the bitcoin should just adopt it.

The problem is that the bitcoin is very slow in adopting new technology and making improvement.

 I know right. What he said can be a short story and can be publish in no time, just kidding. I think what he's trying to say is even though bitcoin is being used in some illegal activities like what he said that a guy online bought some narcotics using bitcoin and why the technology can't kill it in the first place. Well, it's like he's trying to say that someone who is responsible should kill all the currencies around the world since they are all being used in some illegal activities, correct me if I'm wrong.

Maybe that is good. As the bitcoin want more secure operation and let others test the new technologies first.

Bitcoin cant be changed any how by any technology because it is being used world wide for digital cryptocurrency .and the thing which has been discovered first has more value than others no matter what..

But it can still be improved.

Nobody knows how to do it... the genius of satoshi is one of those moments that happen every X decades. He ensambled a lot of already availible knowledge in cryptocurrency and put it all together beautifully, giving birth to bitcoin and solving the byzantine general problems in the process. Those kind of developments happen rarely. There isn't going to be better tech than bitcoin in a very long time. We will have interesting projects such as ethereum, but nothing worth lossing your BTC position over for. Long term crypto money storage is always going to be bitcoin as number 1 option.

Our hope is that will change the bitcoin technology, as we know there have been many benefits with the bitcoin. And the best way is to follow what the technology was already conducted bitcoin.

That is right. The bitcoin can always adapt to the new technologies and new environments.