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just see the negativity around bitcoin right now!
Much of it is due to the continuing price crash and just look at the news around, reddit abandons its plans for cryptocurrency integration..
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see, I am not explicitly saying that bitcoin was created for tax evasion, but rather implying that crypto currencies will eventually result in people to be in control of their wealth and that eventually will be disruptive to the state
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Who said BTC has been designed with tax evasion in mind? Those who are successful in this game do not need BTC, even if it makes many things easier, but regular folks with 9to5 jobs will pay tax forever, and BTC won't change anything for them.
BTC makes it easier to start an undocumented, unregistered business, but few businesses and even fewer people can take advantage of that.
So the rich dont have to pay taxes! is tax only for the middle class and poor |
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You mean the only thing we can trust about them is their selfish greed? Ohhhh skips for joy
At least they will be predictable. Greed is what drives this market forward.  Greed and selfishness not only drives the markets but the world itself |
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Is this dream even still alive?
regulated exchanges are popping up..
mining is increasingly becoming centralized!
every idea that created bitcoin seems to fade away.
back the dream was in a world where you could buy or hire anything in bitcoin , the government will never be able to prove your wealth you own in bitcoin and thereby you need not pay taxes or pay them little and keep all your wealth yourself!
Thereby, the hard to earn wealth that you earned with hard work is all yours!
But if this was true by now, some few millions from the trillions kept in Swiss banks should have flown into bitcoins market cap!
it does not happen till now because bitcoin is not anonymous and only projects like dark wallet may be the the final spice to add to complete the recipe!
But are you losing hope? you still think bitcoin will free you one day from paying tax?
see, I am not explicitly saying that bitcoin was created for tax evasion, but rather implying that crypto currencies will eventually result in people to be in control of their wealth and that eventually will be disruptive to the state
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7 years and the estimation of Bitcoin's userbase is only 250,000 persons. Whatsapp is newer than Bitcoin and has 600 million users. There's actually countless examples of tech and products that all acquired more users in their first year than Bitcoin has done over 6+ years.
I have one word for you: media (besides other reasons, why you can't compare Bitcoin to a messenger) Media? Bitcoin is mentioned more than Whatsapp.. What other reasons? Maybe you should tell PayPal who has 150 million users and they exclusively deal with digital payments.  Reason only 250,000 people use Bitcoin is because its' technology isn't ready for mass adoption (if we had millions of users then we'll have terabyte sized blockchains and hours long confirmations), miner whores who keep on dumping, too many crooks and scammers, et cetera. well said, I believe there is a cartel which has influence over bitcoin code and prevents any attempt to make it go mainstream by ignoring these blockchain size issues and solutions! All they want is bitcoin to remain this same size and never go mainstreeam |
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The Winklevoss twins have a track record of betting on the wrong horse.
What were those wrong horses? They trusted Zuckerberg to code their social network ConnectU, he betrayed them and ran away with the idea: fail. They invested in BitInstant but it went bust as the founder got prosecuted for money laundering: fail. They are starting an official bitcoin exchange but it's already too late because CoinBase has the first mover advantage and backing from NYSE: fail. They invested millions over millions in Bitcoin without realizing that it is crippled by technical limitations and already earmarked for replacement by newer and better technology: fail. They got millions after the facebook settlement, and the whole world knows facebook was their idea, that early investemt of their millions into bitcoin is now worth more than 100 times! |
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The Winklevoss twins have a track record of betting on the wrong horse.
What were those wrong horses? |
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I was so amazed to see their interview today after they presented their ETF project! They said if bitcoin market cap would be 400 billion if it becomes major among money transfer(visa,mastercard). marketcap would be in trillions if it disrupts Gold.. They hold 1% of all bitcoin total supply! They are taking bitcoin to wall street and comply with regulations to create the first ever ETF for bitcoin so all the banks and wall street major billionaires can now invest in bitcoin.. In the coming decentralized world which will be made up of key technologies like drones, 3d printing, autonomous agents we can be sure that the blockchain technology will be like how electricity was to the 20th century... bitcoin will be the token of value in future... they will be the masters of decentralized revolution!
http://money.cnn.com/2015/01/27/investing/bitcoin-winklevoss-twins-gold/ |
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From the days bitcoin made headlines for being the magic tool for crypto anarchism the scene has now changed so that news like Coinbase and Gemini which are going to launch a fully regulated exchange in the United states are widely celebrated!
Would the founding fathers of bitcoin (Satoshi,Finney,Szabo) really like this evolution?
The general public has really accepted the news as good, that is why the price has been increasing this week!
Is this evolution in right direction?
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From the birth of those new products, we can see the changing attitude of the regulators. Instead of leaving bitcoin in the corner and letting it kidnapped by drug dealers or underground economies, why not use it for good purpose?
I believe more and more bitcoin products will arrive in the USA, if the regulators are adjusting their attitude favorably like this.
New products could include:
Saving accounts accepting bitocins and paying bitcoin-unique interest rate,
Term loans based on bitcoins,
Corporate bonds denominated in bitcoins,
IPOs denominated in bitcoins.
The marriage between bitcoins and the Wall Street will be blessing and magnificent to all supporters like us.
A conspiracy theory of mine is that FED surely want to do more QE to boost the economy and to win the currency war against depreciating Euro, Yen and RMB. However, the printing of new USD is tightly monitored by the republican senate and congress. How to get around of that? Yep, approving bitcoin related products and making it a de-factor currency. Then the inflationary bitcoins at the distribution stage will funciton like "newly printed USD pouring into the economy". So the hypothesis is "using bitcoins to implicitly QE the U.S. economy". I agree with your theory! but this time the economy will recover since wealth is given to us which we will spend wisely unlike the banks |
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The Gemini exchange and ETF seems to be just around the corner!
Time to speculate how much money will be pouring into the system and wear seat belts for the takeoff to moon
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http://www.nasdaq.com/article/recent-big-bitcoin-drop-looks-like-a-squeeze-that-could-be-a-huge-problem-cm434773"Even when mining is completed and all Bitcoin are in circulation, at a $200 exchange rate, that represents a market cap of $4.2 billion. That is a big number, but to a forex market that turned over $5.3 trillion each day in 2013 it is a drop in the ocean. BTC will be just too easy to push around."" regulation of some kind to protect what is still a very young market before the traders kill it."So bitcoin has to increase in price many fold in order to enter forex markets and reach greater heights! but with a bitter pill regulations?
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There is a lot of talk about at what price BTC is supposed to be. This statements are mostly based on the past price of BTC.
E.g. "It can't be 1000 USD/BTC today since it was just 130 USD/BTC 2 years ago"
I think, that is a pretty bad way to look at it.
The best way, I can think of, is what has the price to be, when a certain amount of people use it. Imagine in 10 years 100 Million people worldwide are using Bitcoin in some way(I don't want to discuss, if that is a good estimate, since the title of the topic is "if it succeeds"). Looking at the current market cap of ~$ 3 billion, that is just not enough. That means that everybody can just use an equivalent of average 30 USD.
Any other suggestions on how to determine a good price?
You see .. that's the issue mate , everyone look at the price and they want to get rich between night & another just like that . which is wrong ... a good price isn't what makes us rich but it's stable price . Let's say ~300$ for three months . that's stable then it's good . even if it was 1$ . Most of people don't give a shit about Bitcoin being annonymus or fast or without fees they just want to become rich. *facepalm* that's my opinion  Good and a stable price of 1million USD/btc |
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Under whatever metric we evaluate bitcoin ,
By consumer adoption, by merchant adoption, by use value, venture capital invested etc, etc,
it seems finally that the price is the single largest indicator of its success or failure! period
because even when other metrics are low and price is in an upswing everybody praise bitcoin but when every other metric is good and price is down then everybody calls bitcoin a failure like they call now..
Bitcoin to reach mainstream the truth is the price has to go to moon like nov13...the only people will flock to bitcoin..
No matter bitcoin gets accepted by Microsoft today and Facebook tomorrow! still mainstream people wont give a shit about bitcoins!
But a craze that price will increase like the dotcom bubble will flock people in and make it successful!
At the Federal Reserve of WIP (name change pending) we are performing evaluation of the basis for online currency systems. In line with requests, we are working on rolling out parts of the system that are much higher-throughput than up through today. (And for the moment WIP transfers have been left pending.) We would like to get it right. We have some indicator metrics that can be used to evaluate Bitcoin as well as our currency and any other. Firstly, for background, the price metric is interesting, but not the single largest indicator of the success of any currency. If the price of something in very short supply temporarily hits astronomical heights due to shortage (only), this price would not indicate any level of "success". For example, if some perishable goods begin being sold at very high prices during a hurricane, this would not indicate that it has become "successful". So this example shows that price alone is not an indication of success. Another example would be securities bubbles in which a security temporarily trades at very large multiples of certain fundamental figures. You mention Venture Capitalists. An example of a stock that has gone down very significantly since IPO is Zynga - http://finance.yahoo.com/q?s=ZNGAIts price and volume of trading were high, following which it lost the majority of its trading value. Our evaluation of Bitcoin focuses primarily on its competitive outlook as a global Internet currency over the next 10 years. In this sense, certain fundamental aspects of the currency become more important than any metrics that can be tracked without analysis. I am happy to answer follow-up questions if you have any. Chairman, Federal Reserve of WIP that was very scholarly reply..nice |
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Under whatever metric we evaluate bitcoin ,
By consumer adoption, by merchant adoption, by use value, venture capital invested etc, etc,
it seems finally that the price is the single largest indicator of its success or failure! period
because even when other metrics are low and price is in an upswing everybody praise bitcoin but when every other metric is good and price is down then everybody calls bitcoin a failure like they call now..
Bitcoin to reach mainstream the truth is the price has to go to moon like nov13...the only people will flock to bitcoin..
No matter bitcoin gets accepted by Microsoft today and Facebook tomorrow! still mainstream people wont give a shit about bitcoins!
But a craze that price will increase like the dotcom bubble will flock people in and make it successful!
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Probably the Sky is Blue or Water is wet or the Desert is really really hot.
Maybe the House always wins. Or my favorite, if a bear shits in the woods, would anyone hear?
you mean if the bear farts? |
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Well, I have voted... I think you have been talking about the so-called Big News that Adam Guerbez has been "trolling" about everywhere, and which is trending on Twitter, right?
yes |
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