Bitcoin Forum

Tbh does anyone feel like bitcoin has too much competition and the world is against it? I bought bitcoin when it was 250 and sold when it hit 900 before hitting all time highs @ 1200. I kinda want to get back into the game but idk if its lost its momentum.

So much speculation is also coming from everywhere. I read negative articles that cite slow failure: http://www.panture.com/bitcoin-will-slowly-fail/

And also positive articles that make bitcoin look like its not going anywhere: http://www.theguardian.com/technology/economics-blog/2014/feb/25/bitcoin-will-survive-despite-mtgox-offline

Im worried about investing in it again, but Im willing to take a risk. With the irs calling it out though and saying its not a currency is something that really worried me though. I dont think the govt will allow the coin to take over. Does anyone else feel fear in their gut? I enjoyed being in the game but idk if now is the best time to get back

Edit: I think the article writer on Panture just wrote it to talk negatively in order to buy Bitcoin, now he's saying it will work lol http://www.panture.com/virtual-currencies-can-work/

Probably written by someone waiting to buy in.


Probably written by someone who has just bought in.


A trade on momentum at this stage is a pretty good bet, looking at entire price history.

Set threshold like if BTC rises by >=20% within 10 days then buy.

A lot of people want to ride again, as does the greedy monkey in you. ;)

edit: oh yeah, screw news about IRS, people don't think about school work when riding roller coasters.

Yeah its weakened a lot, but I like to buy on momentum. Bitcoin seems like the future of currencies but with so many govts against it in one way or another its hard to know whats gona happen with its price. I feel like as long as the internet is alive and well, currencies like bitcoin will grow.

I may start with a small position and add slowly, it seems like it might bounce back

Bitcoin 5 years from now...Let me look into the future on my crystal time seeing Orb.

I see...I see many people turning..turning against Bitcoin! There will be a revolution!
Bitcoin will be overthrown by the hands that dealt it up.....

I also see..the masses will turn to Polycoin! Polycoin will rule over all cryptos!
The whole world will adopt Polycoin..

This..This is what I see.

Honestly I see Bitcoin as the leader, if it falls I dont see any other currencies taking its place unless they have some special feature BTC doesnt

Why worry about the long term for now?

Just get in and essentially day trade!

If you watch your step you will profit.

My $.02.

;)

His #3 is complete nonsense.

I think $500 is pretty much the bottom. Good time to buy.

That's just my 2 satoshis though.

I raise you 10 My $.02 and call.

;)

My $.02.

;)

P.S.:

You are 100% correct!

The only people who can do that right now are Satoshi and Keeples
Possibly Pirate and Tradefortess but the first two are unlikely to do that
Satoshi since why would he now
Keeples can't being watched to much

the price of BTC now is lower. we can keep it for 3-5 years.

This^^

The ethereum project a concept right now and the Mastercoin project should be well underway so levels on top of the current bitcoin network will probably enhance and diversify it away from other crytpos.

That said their may be a differentation model and first gen alt coins like the ones presently will be super seeded by a handful of second gen coins with enhanced features like the ones mentioned above

it will be an interesting five years

Five years ago bitcoin was just an idea and not the revolution in finance it is today five more years and this period we are looking at now could be the 1990s internet innovative in its own right but something that can be built upon and improved to look like todays internet in comparison

If you're worried even before investing, don't do it. You won't have the mental strength to hodl.

Btw.: Bitcoin value shouldn't be measured in USD, instead USD should be measured in Bitcoin, because Bitcoin is free money.

Now the price is highest when is relatively low, but compared to other virtual currency price much higher.

Now the price of bit coin is quite low, we can buy more coins.

The block reward will be 12.5 BTC.

But will every shop in the world accept it? I mean I heard people buying tesla cars with merchants with bitcoin but I dont see it going too global. Not to be pessimistic but aren't the majority of countries against it? I just hope Bitcoin will stop getting trashed on by high lvl govt officials and be left alone for people to decide its value. But back to my main message, I noticed the author on Panture.com (look at my first link) citing market cap as a problem. I never heard of this as a problem and it is weird that it has been suggested. Any thoughts on that? (I never heard of a market cap posing as a prob for anything)

Only thing we can do is wait and have faith

I just bought another bitcoin. There is no "bottom" to bitcoin, because like anything else, more bad news can drive it down. But the upsides are much greater than the downsides, and bitcoin has been hammered pretty hard since Mt. Gox failed. The ongoing development of ATM's, businesses accepting it, better software for it, and so on should all drive growth.

Keep in mind that the amount of bitcoin exchanged each day is small compared to the total supply, so it only takes a small number of bitcoin holders to react to news like the China rumors and drive the price way down. Since there is not a lot of cash sitting in online accounts, ready to instantly deploy to purchase bitcoins, the price can move very quickly in a downward direction when lots more people than usual want to sell and there are not a corresponding set of buyers with cash ready at hand.

We're in cryptocurrency for the different reasons, month-trader. For me it's not about profit, it's about changing the world.

Interesting way of looking at it

@Mikerogers

Here's a log chart showing existing bitstamp price history with a logarithmic scale.

The corrections after rallies are the blue triangles.

http://www.game4coins.com/btc/ta_log.png

nxt enters stage left... http://www.reddit.com/r/CryptoCurrency/comments/215sn9/go_ahead_and_test_the_nxtasset_exchange_on_the/

where did you find that chart?? you are after fully confirming my thought that btc will climb considerably in the coming months!

We're in for a wild ride and nobody knows for sure what will happen, but that's part of the appeal.

The original chart is bitstamp exchange data with log y-scale:
http://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zl

You may also like this one.

It answers OPs question "Bitcoin 5 years from now?" :D

http://www.game4coins.com/btc/bullish.png

right ok.. lol so anyone that owns one bitcoin will be a millionaire??? lol i seriously hope your right! :L

1 bitcoin will be worth 100 million.

You'll only need 0.01 to be a millionaire.

but it's only a joke graphic.

This is a really promising chart.  :)

considering that there is still very few places that accept bitcoin.. once every shop in the developed world accept btc.. we could be talking serious money here!

But will every shop in the world accept it? I mean I heard people buying tesla cars with merchants with bitcoin but I dont see it going too global. Not to be pessimistic but aren't the majority of countries against it? I just hope Bitcoin will stop getting trashed on by high lvl govt officials and be left alone for people to decide its value. But back to my main message, I noticed the author on Panture.com (look at my first link) citing market cap as a problem. I never heard of this as a problem and it is weird that it has been suggested. Any thoughts on that? (I never heard of a market cap posing as a prob for anything)

I think it will be an older, slower, but still relevant "gold standard" in the new wave of financial platforms.  It will still be accepted, but will be kept more as reserves, and the 2.0 platforms will be where the full potential of bitcoin is actually realized.  Not only that, but I think this will be evident in 1-2 years, not 5. 

bitcoin is a revolution, but it is only a start. Its features make it not to be the future payment. But it is a pioneer. And it means a lot to the community. There are so many alternative cryptocurrencies, but most of them are shit and will die or have died. Bitcoin will exist and valuable for ever. Bitcoin is the first in history. The future payment are coming, i think, it won't be long.
I think $500 is pretty much the bottom. Good time to buy.

looks like 350$ is the next target here.

I feel like bitcoin is still unknown in the vast part of the world.

Where is that part of the world?

look at this :

coinmap.org

il only say bitcoin is mainstream when i can go to my local town and buy stuff with it.. small town bout 10k people back ares of ireland.. by the time it reaches here.. its mainstream.. this part of the western world is only one step ahead of a 3rd world country lol

Now the amount of currency market is not very good, if you have a lot of BTC that quickly sold.

I predict that within 5 years, some stores in your little town will accept Bitcoin, or something built on top of Bitcoin.

Worry not, the risk is an illusion. 5 years from now everyone will wonder why it took so long for the world to abandon obsolete fiat (https://www.youtube.com/watch?v=kIbEj1CIpuU) and adopt real global money.

https://i.imgur.com/G5LNuWn.gif

The risk is an illusion? Cmon man there is risk dont mislead ppl

I quite agree with @Beliathon, but to be pedantic: it could be worded something like "The majority of currently perceived risk is an illusion".

I am going to buy as much btc as i can next time i get my salary and hope for that 10k usd in 2014 that everyone spoke about in December xD

I was on the phone to my sister who had just recently downloaded the new zetacoin mobile wallet and I sent her some coins and before I could tell her they were on the way, I heard the Cha Ching on her phone. Now that's fast. Perhaps speed is a feature that hold bitcoin back.

This is an easy prediction.  Here is an updated version of a famous quote:

If only it was that straightforward  :-X

Bitcoin has a bad rep out in the world.
A different name might go far someday.

very interesting information

Well its mostly fear and what not although that's usually how things begin
Guess we can see the impact a name has with dogecoin and karmacoin later though on user sentiments

My predictions:

Ultra short term bitcoin´s major fiasco. (200~350$) April, may.

Short term gloriously rally again. (4-8K$). October, dicember.

Mid term second-third geration coins surpass bitcoin. (f@<%/')

Long term. Brainwallets responding to thinking. (((O))).

                                                                           ^Singularity

Bitcoin is never weak its always been the base of every crypto coin out in the world. And people are talking negative about but I guess Bitcoin is still not in its worst considering the time when 2 pizza = 2000btc so it has come a long way and will continues to do so. And I can see a stable 1000$ for btc again in 2015.

Why is it dogecoin instead of dogcoin or doggiecoin?
Even if the Meme was named "Doge" the words dogcoin, doggiecoin, or puppycoin would work much better for mainstream pet lovers.

Short term Im pretty bearish but maybe after all the hate is through it gets a little better

1 bitcoin will be worth 100 million.

You'll only need 0.01 to be a millionaire.

but it's only a joke graphic.

how long can people take the volatility. bitcoin right now is like gambling. I like it cus I gamble but a lot of folks will be turned off. There could just be one too many rise and fall. Either way it was fun.

eventually it will stop.. its only due to the exponential growth!

Other currency Bitcoin as a leader, if it comes off, followed other currency swaps unless they have some innovations.

Yes I see it in 5 more years, it went this far and will keep on going to the moon and beyond.

People just dont know what to do with it i guess, once time goes by maybe ppl will treat it more like an investment

just keep faith that the price is low, and that transaction times are (only 15 minutes).  give me a break with this quantum time travel nucleaus arithmitetic??  :)DDD

Thats what the panture article was saying. Many believe it will die slowly as more people realize its not an asset they want. But really nobody knows for sure

I dont want the price to be low, I want it to go high lol. This isnt like a stock where there is a buying opportunity, more like gold where you just want it to keep going higher

Bitcoin will be totally different thing at point of time when it wasn't mined out and when it was mined out.

Bitcoin will die off in less than a month. It's outdated, it's old, practically pointless unless you're a investor...

New Alt coins will surface that are fully anonymous, and makes mining easier than it is now.

Bitcoin is the future of the currency ,now is just the start  and there are will be people who will try to make it disappear  or to control it.And as at the value it will have ,in my opinion is a slow and stable growing instead of a price booming .

Care to place a bet on this sir? Altcoins aside.

We can use an escrow that we agree upon.

An even money bet:

Min bet size 0.01 BTC

Max bet size 1.00 BTC

we will use this price: https://bitcoinaverage.com/#USD

If Bitcoin price goes <=$300 between now and the 2nd May 2014 12:00:00 UTC you get the pot.

If Bitcoin price remains >$300 between now and the 2nd May 2014 12:00:00 UTC I get the pot.

You talk the talk, but will you walk the walk?

That seems like a good bet for you g4c :)
Nice call-out ha-ha

5 years from now? TOOO DA MOOOOON  :D


(or zero  ;) )

With his low opinion of BTC, Do you really think he has any?

You're probably right, but then why frequent a Bitcoin forum  ???

Trolls, Everywhere they're not needed.

Ik a lot of people who just talk down BTC when they dont have any and talk it up when they do. It's stupid to do because it doesnt move it at all but some people feel like they need to do whatever is necessary to make their trade seem good.

true...yet hopeful still,i think.

Absolutely not. There are still plenty of brick and mortar stores in the world that don't use any kind of e-commerce at all!

Look at Chinatown in NYC, they are like an entire cash economy existing on their own, separate and yet connected to the rest of the city! Many of the businesses there don't even pay taxes!

Oh wait.. that sounds like the perfect environment in which crypto would flourish! Forget everything I just said!

I doubt it will just crash outright. Prob will either slowly go down or rise again

If you think Bitcoin's fiat-exchange price matters now, you don't get the technology.

More and more businesses accept it every day (at least in the relatively-liberal western world).

Crypto is the future, and Bitcoin is the most credible crypto on the market. The future looks good.

Price follows utility.

JJ Abrams definitely supports it and has no doubt invested heavily in it - personally. The several projects/shows he's been involved in are high tech and future/transhumanist like crazy. The show Almost Human (love it) features bitcoin as a standard form of currency, with neon hardware wallets that can scan at an ATM or whatever to check the balance. The DNA bomb was spectacular in concept and I figure someone got to work figuring out how to do it for real! For the unfamiliar, it's a gorgeous silver ball about grapefruit sized that they drop in a room like a grenede and it explodes like a disco ball sparkle shower and destroys all dna evidence in the space and removes all traces of it. Obviously the bad guys used it to wipe a crime scene but still...that was cool as all hell...and pretty, too!!  ;D The utility of something like that would be in hospitals or crime scenes to clean the shit out of it to the micro level...somebody thought it up for the show, somebody's literally working on it this moment, guaranteed.

The point is that a lot of the people who have written bitcoin off have not considered the future technology that is being invested in and developed now with 100% full expectation of a virtual currency. Even VirginAir vacation space flights has announced it will be accepting bitcoin payment for excursions into space.

Excursions into space? Vacations? What? What??

See, that's already happening. People have already been vacationing to space. They weren't doing it 5 years ago though, were they.

Visit singularityhub.com or any transhumanist slash technology sites and look closer at the stuff being developed and how that is beyond the scope of fiat cash...digital is king and we're not going backwards just because a government or bank is threatened anymore than science stopped advancing medicine just because religious tards thought it was the devil.

It's *already* digital. Bitcoin is a perfectly acceptable bridge from physical carry cash to 100% digital cashless...it's a transitional currency and because of it, it will be around a long ass time. That doesn't mean other virtual currencies won't rise up and compete for business but what's likely to happen is the competition leads to a cross trading option just like fiat currency now. The Shift is taking place.

For you to seriously suggest bitcoin is a failed experiment is to expose how oblivious you are to what's taking place all around you at an exponential rate.

In 20 years, *given what is currently in development* it's not at all unreasonable to see the unbreakable security protocol of brainwallet level - literally affixed in your brain and you can just "think" of the transaction without ever exposing the information externally.

I mean if they're *already* working on the technology that will let us literally download information directly into a knowledge base in our brains - including search feature - don't think somebody hasn't also thought up mind to mind transactions for the penultimate p2p transactions. If they get any closer, they're having sex.

This aint going anywhere, nor is it sci fi - this is the cusp of a mega shift in the way we exist at all.

Plug in  ;D

Looking at the order books at BTC-E, It will take a dump of hundreds of thousands of BTCs to crash the currency. Not likely.

The only people who can do that right now are Satoshi and Keeples
Possibly Pirate and Tradefortess but the first two are unlikely to do that
Satoshi since why would he now
Keeples can't being watched to much
The other two below possibly if Pirate didn't liquidate or TF

Yeah I agree I doubt those holders will dump but the fact that they can control the price like that is not good. And plus the real bitcoin founder hasnt announced who he is in public and what he looks like. I doubt he will do anything without being scrutinized big time

I think bitcoin will be looking good in 5 years. I don't know about price but I think that it will be much more liquid and more widely accepted around the world, and that's what counts.

I hope those 5 years go very slowly.
Time has been flying by way too fast.

5 years from now: Mass adoption worldwide
and 1 BTC $ price in 5 or 6 figures (5 figures more likely)

We'll prob know whether or not that happens in under a year. Governments can either let it flourish or hurt it badly

Like the I.R.S. taxing it?
Governments have no desire to allow bitcoin to flourish.

I.R.S wants to tax miners, then tax for every single bitcoin transaction that occurs within the U.S.
If people comply/(fear the I.R.S.) bitcoin will pretty much die in the U.S.

I am Bullish, but that is insane.
Good example of why to not take "log charts" seriously.

Happy Birthday, dear bitcoin! Hope we will celebrate you 10's birthday too

Probably written by someone waiting to buy in.


YES SIR

10's? Didnt it come out when the housing crisis happened in 08?

Just like taxing income killed the dollar.

Keep in mind that the more Bitcoin grows.. the smaller USD becomes.. so this will be more like 1 BTC equals $100,000 of purchasing power, just because USD will be worth 1000x time less. So, who knows! lol

test

You got that backwards, the only way Bitcoin will reach 100 million per coin will be if USD hyperinflates and becomes worth much less, then there will be many more dollars issued and in circulation. All fiats throughout history ended with hyperinflation so this is a very real possibility.

cmon though man lets be a bit realistic Bitcoin is not going in the millions... not anytime soon at least. I do see it becoming valuable after mining stops though

I never said it will.

But you say it won't.

Many things are possible, all with varying probabilities.

Nothing is certain.

Bitcoins future is certainly looking grim, atm.

Mt.Gox has ruined bitcoin for the majority of the U.S.
There has been scam after scam using bitcoins.
Most people don't want/need BTC atm.
With the I.R.S. now wanting to tax BTC, BTC may just be bleeding out and waiting for death in the U.S.

It may skyrocket or it may soon be worth pennies, nobody knows for sure.
Bitcoin could certainly use some real positivity soon.

Taxing virtual things is a joke. That's like saying, you pay taxes based on how many google-searches you make.
It's a statement from a governement thats afraid from money-laundering.

1) They can't controll who is buying or selling Bitcoins
2) They can't track who transfered them to where
3) They can't controll a global distributed system at all. Bitcoin is like Bittorrent, it's a protocol, nobody can control a protocol
4) The thing they can do is destroying it's reputation and that's what they are doing now

I know/believe that as do you, How many don't?
Many people will be put off by the possibility of either taxes or audits.
I think Mt.Gox thoroughly accomplished that for most people already.
Many people who didn't even use Mt.Gox have been put off by them.

BTC is in it's infancy and it has endured mostly negativity.
We will be lucky if BTC recovers and becomes a widely accepted/used currency.

Not to my eyes: http://bitlegal.net/ (http://bitlegal.net/).

I agree its just that as a community we tend to focus on the contentious areas and not the green zones

They're not, and the leaders of the nations who are against this new global money will find themselves looking for a new job before this decade is out.

rightly said.....

Asking for prediction in Bitcoin 5 years from now is totaly crazy idea. It's like asking how computers will look like and how fast they will be 100 years from now. Or who will win Football World Cup in 100 years. It's totaly out of question. You can not even know how will things be in 1-3 months, let alone 5 years.
Op, you already earned something in BTC. Use part of that earnings and invest again. It's a gamble. It always was, it always will be. Gamble with what you can afford to loose. As simple as that.

Honestly, you opinion means nothing in compare to "crystal time seeing Orb". Orb said what it wanted to say, and that's how it is! Do not argue, do not ask for further explanations. Allmighty Orb has spoken.

May be wishful thinking but still think 5 figures is a possibility in the 3 to 5 year horizon

Bitcoin is very stable now and It will not defeat not soon.

Thinking five years from now I expect to see this in every store in the world and bitcointalk being a busy forum talking about technology and general stuff.
Kind of curious though what the forums will be like 5 years from now
Reddit Facebook Twitter Style or 4chan
Best case a Github

5 years from now people will be saying: You remember 5 years ago in 2014 you could buy 1000 bits/1 mBTC for less than a dollar, I wish I had bought a couple mBTC's back then, I'd be rich now!

Or maybe by then the dollar has already collapsed

btc trend is not depleted and will continue to rise. my opinion

I decided when I got into bit coin this past March that in 5 more years I would not be one of the people having to say that again. I m still slowly but surely collecting them and plan to be envied rather than feel envy.

That makes sense there is a lot of money going into Bitcoin and the ultra rich and technologically proficient people are already launching several companies into this industry so I can see where this logic comes from.
Also want to be one of those that has no regrets about getting a few mbtcs now and not regretting it in 5 years time.

In next 5 years I'm just hoping that the rate of adoption goes up and the big biz start accepting bitcoin in one form or other like ebay/paypal , Amazon . 2nd I hope Gov authorities understand the concept with a open frame of mind and look into opportunities how it can be used to make best use of bitcoin.
Wait and Watch where bitcoin is heading towards.

Why don't they add more general discussion topic forums now to start down that path?

I think there is no way it's going to move towards a Facebook style. That's pretty much the antithesis of what most people here stand for.

And 4chan, ugh :P

Github is already Github with a good team and tons of cash backing them. I don't really see bitcointalk making any progress there in that regard. What's the point really.

The BTC prices have been really stable lately, I am not sure I would recommend daytrading to people who have just bought in, in the end you always end up losing a good amount now and then.

We don't need positive articles to believe that  bitcoin is not going anywhere

$1000 by the end of 2014 and $10,000-$100,000 by the end of 2020.  That is a long time in crypto years. 

In 5 years from now there is a high chance that Bitcoin will be replaced by a more evolving cryptocurrency, like:

Qora,
Simcoin,
NXT,
Etherium,
Safecoin,
eXo,
Monero,
eMunie (for total anonymity feature),
Credits and so on...

I seriously doubt it will be replaced in the next 5 years, the experiment is not finished.  Bitcoin will first rise to $10k and $100k  :)
I never even have heard of the coins you mentioned except NXT.

The biggest return is when you invest in a coin when it is in its early stages (IPO stage or first months after). The above coins definitely worth a research..

What if it not gonna exist anymore? What if goverment gets mad cuz they can't fully control Bitcoin, so they will try to  shut it down for example :o

Thats when you buy them cheap ;)

exactly!!!

This isn't going to happen. You can forget about it.
Bitcoin shall remain first for much longer.

you all seam to forget that bitcoin can be modified.
first thing , and most important is that bitcoin has comunity, popularity and trust, and it will survive definetly, altho price may vary.
all those other coins will rise and fall, because, if you quit btc for some other coin, then you will also leave that other coin for a newer one.. etc..etc.
simple modifications to bitcoin will be made, and it will erupt in popularity, and hopefully in price.

cheers

it happened in china, the government give order to all the banks in china to shutdown bitcoin account.
it makes bitcoin price fall down, but in a couple of month bitcoin price goes up, because bitcoin trend is still good, many people still believe in bitcoin.

You can't keep bitcoin under control, people like it. They want to be free.

Yeap, bitcoin will start to stabilized in 5 years, in the meantime we will see continued improvements being made.

Bitcoin users 5 years from now:

http://img3.wikia.nocookie.net/__cb20110522102344/startrek/images/4/43/Dukat_of_Borg.gif

Fiat users 5 years from now:

http://3.bp.blogspot.com/-WAF5KtCvrTI/U5NRM1ThCOI/AAAAAAAAAl8/lGDN187Fsws/s1600/PEASANT.gif

5 years may be a small time to measure Bitcoin's growth. We grow exponentially every year yes, but imagine 10 or 20 years. One day people may have a btc wallet standard on android phones factory set! Wouldn't that be something!

pretty accurate representation if you ask me.

are you from the future?

In a matter of speaking, yes.

I am from the new world that exists in my heart, the kinder, more reasoned, less violent world that is possible if only humanity can find a way to let go of our present reality which is governed by violence and deception rather than reason and compassion.

Shutting down bitcoin isn't possible. The closest you can get is to be like china and suggest against using it.

That or shutting down internet privacy by closing communciation structures to the world wide web and regionalizing internet signals
With a strong node control

Still infeasible though but would not say impossible in the long future.

Technically possible, politically impossible. Fucking with the free and open internet is political suicide in most of western society.

BTC China hit 1600CAD/1500ishUSD late last year. I see the same for mid-late this year but a much slower climb.

It takes patience to see the price move that or a really nice sentiment and good news
But your right surely and slowly is the result and patience
Which is something that takes a while
On the bright side we don't seem to be treading to much low ground it is steadily growing upwards.

Wouldn't be as hard or devastating as you guys seem to think.
A few court orders demanding that high level ISPs disconnect from the rest of the world.
Conflicting block chains due to the disconnection.
Bitcoin becomes divided based off the two+ chains.

Most home users wouldn't even notice the disconnection.
The websites most of us visit daily are U.S. based.

I agree with this, Altho Bolivia Has done it, But how can any government say you can not "use" bitcoin, Bitcoin at the moment is not seen as a currency in the eyes of the law, it is being seen as property and even being taxed as such in some places right now, Therefore, you can not make laws that tell people they can not use it for trading/bartering. In a sense they would have to stop all things that are traded from one thing to another, Like craiglist ads that say will trade my crappy truck for your nice ATV OBO, exactly the same as trading Litecoins for Bitcoins or trading Bitcoins for US dollars. I mean things like this are done everywhere with other pieces of property, if not for this form of bartering Ebay would not exist, ebay even takes it a step farther where it allows people to compete for the highest price in order to trade their local currency for items they see that they want.

I think in most civilized countries these laws will not and could not hold up in any court of law without pressing farther restrictions on other things being traded.

i tend to be on the positive side in the long run:

http://crypt.la/2014/03/09/10-professional-bitcoin-price-predictions-2014/

i am also holding some drk, crypt and cinni out of curiosity

I'm pinning my hopes on the dollar figure cited as #4 on that list.  $2000-$2500, would be happy either way :)