Without the development of the infrastructure to actually encourage people to use bitcoin to actually pay for something, you won't find demand creating upward pressure on the price. With people hoarding, price can only move up if more and more hoarders decide to buy into the coins.
The best thing to note here is "hoarding", "popularity" & "credibility". As more and more people try to hoard coins there'll be an increase in demand since it's supply is limited. Moreover, it's popularity and credibility is the most important factor behind it's price rise. Thus, to balance it's economical condition, we bitcoiners need to maintain the 3 key factors if we ever want a spike in it's graph!  Real demand comes not from hoarding, but from increased adoption leading to bitcoin-denominated goods and services. We have to strive for that to be achieved. |
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I don't know, but im sure if the price of this is not over 500 usd in the next 2 years, then it will be less than 20 usd or even 10 at that time.
Lol... Yup, it will be over USD 500 in the next 2 years. So the second part of your sentence is really unnecessary. I think they're paraphrasing Satoshi: I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume. ( Feb. 14, 2010) Yes, they seem to be. Only thing is they have shortened the 20 year time frame to 2 years.  |
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Even a mildly negative rate should cause consumers to hold cash over depositing it. It must be insignificant enough that the banks will eat the loss and not pass it on to consumers, however the point of negative interest rates still confuse me. In theory, it depletes the money supply, so actually rewards savers; as long as consumers aren't bearing the cost of the negative interest and it is only between banks and the central bank.
A mildly negative exchange rate would make consumers treat banks as safe deposit boxes, where a small fee (negative interest) is paid to keep your cash safe. Consumers might still go ahead and deposit their money. |
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Yep, bitcoin is not a democracy, its a mining oligarchy, because essentially it's the miners who own bitcoin, while we just lend it from them.
If the miners would all got together to form a 70% ownership cartel, then we would all lose our money.
Consider the scenario - 90% miners decide to make a shift in the Bitcoin protocol. 10% decide on retaining it. Since they are in a minority, this is a hard fork and the 10% form an altcoin. Now, if the majority of people using bitcoins decide that they will accept only the 10% miner-alt as Bitcoin, then the remaining miners can take a hike (in spite of their majority). |
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This is a pretty old article (September 2014).
Although the number of bitcoins is finite, it doesn't automatically mean that bitcoin's price will shoot up if adoption increases. You could have bitcoins circulating at a faster rate.
wider adoption means more people spending their coins, but also more people holding their coins in the hope the price increases. and by the time wallstreet pops up and start with buying up plenty of coins the price will shoot up like a rocket. Correct the reasoning of pattu1 according to me. But even it wasn't true this, even the circulation, I think that cannot stop the increase of price. The number of people in the world it will be much higher and every day will be new people in the world of bitcoin and new people which born. Those factors will be more important in question of the price of bitcoin than the fast circulation. In this way they will eliminate day by day the fast circulation and will increase the price of bitcoin. Yes, that is true. It is the rate of circulation and the price which will have to adjust with higher adoption. Most probably, both will increase. That is why I said that it doesn't automatically mean that bitcoin's price will shoot up if adoption increases |
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I don't know, but im sure if the price of this is not over 500 usd in the next 2 years, then it will be less than 20 usd or even 10 at that time.
Lol... Yup, it will be over USD 500 in the next 2 years. So the second part of your sentence is really unnecessary. |
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This is a pretty old article (September 2014).
Although the number of bitcoins is finite, it doesn't automatically mean that bitcoin's price will shoot up if adoption increases. You could have bitcoins circulating at a faster rate.
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Excellent article. People talk about the baton of reserve currency of the world being passed from dollar to the Euro / Yuan. It will take a lot more time before people start considering Bitcoin as a serious contender. |
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...and why do you think so ?
sure 2017 $500 is not cheap for 1 bitcoin,, or 2020 we need stable at $300 for 5-6month before we rich $500 do not have to wait long to see the price above 300, I believe we will reach a price of 300 before halving That isn't too far away. 20% gain in a few months is pretty good, if it does happen. |
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The price, can't it just stay there at $1000? Or at least just change every month, but not too significant.
A lot of people would have loved the price to stay at $1000.  Seems like you got your wish now though (relative price stability) |
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I really don't get the notion of "Holy place" specially not in religions where God is omnipresent, all-knowing and omnipotent. OK, I get that places of prayer are to be respected, but this whole thing going on in mecca is crazy. I also get pilgrimage... but come on!! What's going to happen in mecca that's so important? Nothing, but people just have to risk their lives in such a crowded mess. It. Is. Insane. Really. If something huge is going to happen, wouldn't God just kind of... broadcast it to the faithful? The real faithful. Why not have it happen in all mosques? But the religious fundamentalists never seem to let their god be practical an smart.
Wars have been fought over control of holy places. The Saudis control over these holy places gives them power. So risking lives in a crowded mess is nothing. |
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I had to laugh had when i heard this announced. What next North Korea as head of Amesty International, maybe China or India on the board of abolishing slave labour.  It will be funny if the DPRK manages to secure the Secretary-General post in Amnesty International. Who is worse in human rights records? Saudi Arabia or the North Korea? That said, the Saudis will have no issues in getting good positions, due to their close friendship with the United States. In case of DPRK, it will be next to impossible. As the article says, the US loves dictators / human-rights-abusers who "cooperate". Regime change is only for unfriendly regimes. Human rights records (or weapons of mass destruction) are just excuses to further the agenda of the US. |
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The UN by itself is a toothless organization.
This latest mockery of an announcement shouldn't surprise anyone.
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Are you inspired by those bitcoin millionaires? Are you thinking of filing a resignation letter on your day job (if you have any) and focus on bitcoin instead?
Me? I do have a day job and I consider bitcoin as my side job. I don't want to lose that another source of income just because bitcoin is awesome.
It is too risky if i quit from my real job as Geologist that already made me have bigger monthly income more than people with office hours Job. Bitcoin just for secondary income for me to cover my online expense and if i got more btc, i will use it for betting Just note : minimum standard cost for 1 people in my country $50-$150/ months I made around $6k/months from real job (must cover me, my mom, wife and 2 child). I made around $50-$100 from bitcoin in multiple source.. So i will never quit my job because of bitcoin.. Of course, it doesn't make sense in quitting your job. If you are really bullish on bitcoins, just continue with your current job and convert your excess savings into bitcoins. |
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I think better idea is to prohibit all hydrocarbon-powered cars (gasoline, diesel, LPG, CNG) from large cities after some date (e.g. 2030). Automotive companies will know they must develop good and cheap electric cars or go bankrupt after this date. Urging them to be "green" is foolish, they will always find the ways how to cheat (look at recent Volkswagen trick).
They may have cheated, but they are paying for it. Heads are rolling, plus Volksagen has had to stop selling some variants in a few countries. They don't get away scot free. |
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For a minute, I thought that the headline referred to his home in Saudi Arabia,
That, will not happen.
Now it is upto the US diplomatic community to resist pressure from the Saudis and make sure that the prosecution of this prince goes through.
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Here's an economic concept: the market places a 10% premium on freshly minted zero-taint BTC over 'gently used' coins. Good luck with your stolen Evolution coins!
Bitcoin doesn't meet the highest 'can't be evil' / 'can't be non-fungible' technical standard because the code may be modified with black/white/grey/red lists of forbidden/allowed coins/taints.
So no need to even get into the more significant (but more general issue) of socioeconomic interchangeability.
Collectors pay a premium for weird things. That doesn't mean that bitcoin is not fungible. With respect to fiat, collectors have paid millions of dollars for nickels. So that doesn't change anything about fiat's fungibility. |
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Interesting take. If interest rates go below 0 and into NEGATIVE territory then that implies that if you put any cash into a bank account, over time they will eat away a portion of your deposit as a fee for holding your money. LOL omg the fucked up world we live in. BITCOIN throughout the article link above, also mentioned in the article at the bottom: It actually means that the banks would pay you to borrow money - they wouldn't actually take a fee for your savings. If they did they'd have no money to lend and then have no hope of producing an income on their business of being a bank. Nope, it doesn't mean that. Banks won't pay you to borrow money, unless they get some incentive from that. There are some corporates who wouldn't mind paying a small fee on their deposits. Think of it as "safe-keeping charges" rather than negative interest rates. |
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If you offer a small bounty and post these questions in this forum, they will be answered very quickly.
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