Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.
I has already replaced the gold.Now it may also replace platinum |
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So today one of my teachers came to me after school. She and some of her colleagues talked about ways that they can invest their money and save up (as teachers in South-Africa aren't really paid well) one of them then mentioned Bitcoins and how Cryptocurrencies are showing very high growth. Then some or other teacher mentioned that I have some knowledge about Bitcoin (still have no idea how they knew that) But anyway long story short- Tomorrow I am doing a presentation for all my school's staff +/- 50 people about Cryptocurrencies, and then possibly to the whole school.
Yeah, just some short story I thought I would share, about a practical example of how Bitcoin is reaching the masses.
Yes it's a great idea to share the knowledge of bitcoin to others.Everyone should have the knowledge of Bitcoin it's news is spreading enormously around the world. |
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Today Galaxy Investment Partners Founder Mike Novogratz said to Bloomberg: "Bitcoin is like gold, it has value because people say it has value".
He believes bitcoin ends a year at $10 000! Can you believe this?!
Yes it may also go beyond $10000 by the end of this year. It will be good for all bitcoin holders. |
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There is no question that China is a big market for anything and if this market can be developed well its power and influence can be felt for good. I believe that China can be a good contributor outwards the overall success of the cryptocurrency movement. Do you think we should welcome China again to the Bitcoin market? Future of Cryptocurrencies in China It is important to note that this ban is, most likely, temporarily. The fact is that China had already banned Bitcoin trading in 2013 and this year imposed a 4 month freeze on exchanges due to security issues. Regardless of the events, the Public Bank of China is very interested in distributed ledger technology, having devised a five-year development plan that focus on researching and developing blockchain technology. Not only that but according to some reports the Chinese government is also developing and testing their own state cryptocurrency. In a closing note, there are now rumors that Bitcoin exchanges might be reopening. This speculation was felt in the market, with Bitcoin prices surpassing the previous all-time high of $6300. Reports indicate that the policies forbidding crypto trading were examined in the 19th National Congress of the Communist Party of China and that they might be lifted. It was also speculated that a new Chinese cryptocurrency platform, speculated to be controlled by the Chinese government, might be up and running by the 1st of November. Read more here...
Yes if China comes into the market there will be again huge increase in the market which every bitcoin holders wants. And it be easy for miners to mine bitcoins |
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What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?
Yes off course they will hold their bitcoins for long term because till now bitcoin has very huge impact in long term and as you can see in the month of October the price of Bitcoin was $3000 now it is $8000.It may become $20000 in long term this is the main reason why they are holding for long term. |
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China has become the powerhouse for Bitcoin (and the whole cryptocurrency in general) as it is hosting many Bitcoin miners due to cheaper electricity and maybe also cheap labors. China also boasts of probably millions of Bitcoin owners and traders who are influencing the moves of the market on day to-day basis. As far as acceptance of Bitcoin in China, it is comfortably good until such time when the government decided that it is time to intervene.
In general, the Chinese government is not comfortable with Bitcoin as it indeed representing a different currency that they can not control with. since Bitcoin is decentralized it would be hard for the government to make interventions and so they are thinking that maybe it is time to ban it altogether. The government can not kill Bitcoin but what they are doing is actually closing the country as a market for Bitcoin.
So the question is: Can Bitcoin survive without China? In case, it can't then then there is something wrong with it since it is not resilient to ride the big storm it is in.
I beleive more than 15% Bitcoin holders are present in china.But it will not affect the market if they will not invest in Bitcoin. The price of Bitcoin may decrease though. |
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If this happens then Bitcoin will grow more than expected.And till now there was no official information regarding this matter. |
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With all the drama around 2x now over and BCC seeming to take away some of the market from BTC, is BTC still king and still set to rise to $7k this year? Thoughts?
If everything goes on right track it will surely reach $8k before the end of this year. |
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They may not disappear but they can also start using blockchain technology and can accept Bitcoin for their transactions. |
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many people think the rise of Bitcoin due to hard fork in November. But on day 8 before hardfork Segwit2x, Advocates for a bitcoin hard fork cancel SegWit2x fork. So, does altcoin rise?
Yes many people thought that they can get free BTG if they would hold on their Bitcoins till the fork. But their plans have reversed due to the cancellation of fork. So now alt coins show their uptrend till some of Bitcoin holders sell their Bitcoins |
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Hello everyone as the title says ^
Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
As security is the major issue in storing Bitcoins.So I prefer to use online exchanges rather storing in computer wallets.. |
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Bitcoin is the future of money, or so they say.
I would like to hear your opinions on Why should people use Bitcoin?
By using Bitcoin we can increase the value of money within some period of duration but sometimes it may also decrease. We can take that little bit of risk if you want to earn money. Secondly we can transfer money to anybody from anywhere in the world. There is no involvement of government and banks so there is no need to pay taxes. |
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No Indian government can't ban Bitcoin.But they can add some regularities on the exchanges.Because even Indian government needs this technology. |
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The Advantages of having Bitcoin is:-
It is accepted globally. You can send or receive money from any part of the world.This is based on Peer-Peer technology.
There is no government or bank intervention which means that you will have more cash in your pocket.
It is promoting digital economy. The world is going cashless and so, the crypto- currency is a good addition.
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Bitcoin price keeps increasing. Price is x10 considering last year. Even 25k-50k-100k is predicted.
Are you adding more bitcoin by buying with cash? or you trade or invest in ICOs & altcoins in order to increase the amount you have?
or do you just hold what you have?
Yes I keep on buying Bitcoins.I use some of bitcoins for trading with alt coins but majorly I will most of Bitcoins foe long term because I believe in Bitcoin most rather than other alt coins. |
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In our country there is a seperate course on the cryptography. But till now there is no courses related to Bitcoin and Blockchain technology. It will be great if colleges and universities add Bitcoin and Blockchain courses because there is need for single individual to gain knowledge about cryptocurrencies. There are creating day by day surprises among the investors.
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My suggestion would be that you should not really wait if you really want to invest in Bitcoin because if you wait for another day the price of Bitcoin may have reached very high.It is expected that it's going to reach 10,000usd by the end of 2017.If you wait for price drop it may affect you a lot. So now also it's good time to invest in Bitcoin.
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When I went home and met my school friends last year they were talking about Bitcoin at that time I didn't get nothing about the Bitcoin then after few months I have learnt basics about Cryptocurrency by googling everything about the bitcoin.It helped a lot in earning huge profits today.
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The price of Bitcoin gave me a sudden surprise then I felt happy because I have purchased a Bitcoin few months before.It will soon reach to stage where normal people can't afford to purchase a Bitcoin.
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This is the concept of Demand and Supply if demand goes down and supply stays the same, prices will definitely go down.Bitcoin will continuously go through these phases of high demand and low demand which will lead to the increase or decrease of it’s price,Government regulations of different countries will also effect Bitcoin price.And last but not the least the influence of Bad news by some famous persons on Bitcoin will create negative impact on investors.
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