The bitcoin vs gold debate has raged on in investment circles since bitcoin has entered mainstream discussion among increasingly interested investors. Gold has been used as a form of currency and trade for thousands of years, and certainly has a track record for reliability and preservation of wealth. However, as the newcomer onto the scene, bitcoin may be the kind of financial and technological breakthrough to to challenge gold as the monetary kingpin.

Early on in its life cycle, seasoned investors began questioning the legitimacy of bitcoin value and debating how such a commodity could hold intrinsic value. What differentiates bitcoin from a mere collectible and what makes it similar to precious metal assets such as gold or silver? Among many circles, especially gold bugs and older-generation investors, bitcoin was not considered a valid investment up until very recently.

Which factors of bitcoin instill this validity of investment?

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Actually there is a very good reason for Bitcoin-backed banks to exist, issuing their own digital cash currency, redeemable for bitcoins. Bitcoin itself cannot scale to have every single financial transaction in the world be broadcast to everyone and included in the block chain. There needs to be a secondary level of payment systems which is lighter weight and more efficient. Likewise, the time needed for Bitcoin transactions to finalize will be impractical for medium to large value purchases.

Bitcoin backed banks will solve these problems. They can work like banks did before nationalization of currency. Different banks can have different policies, some more aggressive, some more conservative. Some would be fractional reserve while others may be 100% Bitcoin backed. Interest rates may vary. Cash from some banks may trade at a discount to that from others.

George Selgin has worked out the theory of competitive free banking in detail, and he argues that such a system would be stable, inflation resistant and self-regulating.

I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash. Most Bitcoin transactions will occur between banks, to settle net transfers. Bitcoin transactions by private individuals will be as rare as... well, as Bitcoin based purchases are today.

In just one word, nothing

In more than just one word, the price itself is meaningless outside the exchanges (since Bitcoin is not used in real life), so there is no way it can affect the world financial system. And it is not the price alone which matters. If someone sold 1 satoshi for 1 dollar, would that mean anything? Apart from that, the price can easily lose all reference even between exchanges if there happens a thing which I called Bitcoin Big Rip. With higher prices we will see higher volatilities (in fact, we are already seeing them), up to a point where volatility becomes comparable to price itself. That would be a Big Rip event or moment

This is a good advise, you gotta live up with the reality and when it says it's volatile, it really are.
You'll greatly be affected if you are buying a huge volume of bitcoin and considering that ATM are not their to serve us for free
they also have fees that we should pay in order to see them running.

I think Friedrich Nietzsche said it best — 'And those who were seen dancing were thought to be  insane by those who could not hear the

music.'

We are dancing on the music of a ground breaking technology, also called : The Internet of Money and the rest of the Fiat slaves are not

hearing the music. Can we blame them for not dancing?

We should make them hear the music, and the only way to do this, will be to increase the volume. The volume on the exchanges and the

volume of merchants and the volume of Bitcoin ATM's and the volume of information on public social media.

                                                       -= Increase the volume, so that we can all dance together =-

i guess it is future proof if you mean a question if it is going to be profitable and popular in the future, then the answer would definitely be yes because bitcoin is the currency of the future

i think that bitcoin is going to replace all worlds money because the technology is really great and it is impossible for governments to have impact on bitcoins also its impossible to hack this technology

i think you need to explain bitcoin to people in best, easy and possible way that increase their interest towards bitcoin and i think it will be more better if you explain them practically but if they want any proof about bitcoin then you need to show your successes in bitcoin and after that if they don't believe on bitcoin then don't waste your time,  ignore them and focus on your work.
but i am sure that if they see your success then they can be easily attract towards bitcoin.

i heard it from one of my friends at last 2 yrs. ago.
but i ignored it as sounds like a scam for me in the first.
then i saw a lot of bitcoin logo in the internet all over it.
i ignored it again.. then time comes when i quit my job and look
job online. then i saw bitcoin again.. tried it the first time and got interested.
search about it and all.. then im in to it now..
well i had fun in using bitcoin and in the same time earning.

That's actually beyond false little Newb, just ignore this guy right here as he doesn't seem to know what he's talking about in the least. Your best bet is probably going to be a place like Coinbase (If you can go through verification with ID, passport if needed)

If you're not going to want to go with something like that you're going to have to use some sort of currency exchange on Paxful or on LocalBitcoins, personally I'd recommend using the one on Paxful as I like the smaller community aspect and I think the people who run it are great but you should try all of them to see what works best. Though, these do comes with high fees as there is a high risk for the people that are accepting them these types of payment methods.

i can not think of any other big issue besides the TX limit, for now or for the future, bitcoin need to get out of the beta phase, where it is seems stuck forever

possible obstacles would be regulation around the world(so not just one country...) and base security issue, to avoid new users losing their bitcoin

then you have a bunch of small pesky problem, like confirmation time(side chain can solve this), slow sync(checkpoint can solve this), 51% attack(ignoring the whole thing about "the longest chain matter more" can solve this) ecc...

There is alot of sites to invest in some can not be trusted and some are fake/scams. Here is my list and most are btc and bankroll for casino. Mostly are bitcoin invest and some altcoins. P2P leding can do diffrent fiat to. Biggest risk is sites get hacked or run of with the funds. But many sites gives great return. I would not invest in a place that gives less then 10% because not worth the risk. Like bitfinex.com had like 3% return on lending out btc. That was the only reason i didnt have any bitcoin on bitfinex. So its not worth the risk. All on the list i have tried for longer time. Warning!!! If invest in casino its easy to get tempted into gamble, a few people just want invest and end up lose all gambling.

Works great and trust

Just-dice.com - bankroll for casino
Bitdice.me - bankroll for casino
Moneypot.com - wallet/bankroll for casino
Safedice.com - bankroll for casino
Crypto-games.net - bankroll for casino
Bitvest.io - bankroll for casino
Megadice.com- bankroll for casino
yolodice.com - bankroll for casino

Have problems
Poloniex.com - lending out to traders

Not trust or like
Betking.io - closed
Magnr.com - lending to traders for 1.28% yearly (to low to be worth it)
Btcjam.com - p2p lending
Bitbond.com - p2p lending
Diggit.io - minesweeper bankroll
Bitfinex.com - lending out to traders

P2p lending and didnt work that great. So many not pay so you get around even.
Diggit.io offline much , takes forever withdraw, owner not interest much in run it.
Bitfinex.com got hacked and got to low interest rate.


Anyone have other sites to invest in? Or sites to stay away from?

Iam not a professional just a hobby investor. Will try answer all questions. And try answer logical and rational. All investing should not be done by emotions. Investing mostly not give huge returns, and need be patient. And my answer will be based on my experince investing.

I generally tell new users to start out with Coinbase or Circle. Once people get used to buying, selling, and using Bitcoin I tell them to get a wallet they control like Copay. For advanced users, I generally recommend Mycelium combined with a Ledger Unplugged or a Ledger HW.1. For reviews of most of these, check out the review section on my website.

I think there are many people who rely on bitcoins and use bitcoins as source of income. Most of them offer their services for bitcoins. Some are employed on bitcoin related forums. You can start with offering your services for bitcoins as none get paid for free. I think Signature campaign would be nice for start.

If you had to convert all your wealth to either Bitcoin or gold and keep it there for 10 years, which would you choose? Keep in mind the fact that Bitcoin has only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.

I would like to start a discussion about the future of Bitcoin.
The following is my prognosis
The future of Bitcoin
After vears of trying to break the blockchain technology that runs Bitcoin, the bankers and governements finally realized that because blockchiain was a public ledger that kept all transaction and that this ledger could not be hacked or falsified; Bitcoin could not be stopped or blocked. Like email, and i-porn, it used the internet highway and without destroying the internet and its highways of communication, the blockchain technology could not be blocked.

The banks and governments decided on another plan called “f you can`t beat them, join them”. They decided that their only chance was to buy up all the Bitcoins. They started small and encouraged Bitcoin`s price to drop by demanding regulation, not realizing that the blockchain is just a public ledger that can not be regulated. The threat of regulation caused the price of Bitcoin to drop, and when the banks and government thought that the price of Bitcoin would not go any lower, they started to buy up Bitcoins. When people realized that the banks and governments were buying up the Bitcoins, the price of Bitcoins soared in an avalanche. This made banks and governments very rich. 

Bitcoin became to be used as electronic money that could not be falsified or tampered with and that could be used as electronic cash replacing coins and notes. The banks and governments started to encourage the use of Bitcoin and replaced their coins and notes with Bitcoins. Then they replaced their plastic credit cards with chips that were implanted and that allowed money transactions to be made much faster and conveniently than with Bitcoin. They made their own centralized and regulated version of Bitcoin and called it i-coin.

After i-coin became convincingly more appealing than Bitcoin, i-coin became widely accepted. Bitcoin became outdated and old fashioned and the price of Bitcoin started to drop. Then there came a time where the only ones that were using Bitcoins were the ones that were afraid of the chip implants, and those that were afraid of the corrupt banks.
Then the corrupt criminals got on the Bitcoin bandwagon, and Bitcoins started to be outlawed in many countries. The decentralized Bitcoin miners - the keepers of the public ledger - became scarcer and scarcer and were overtaken by centralized criminal miners.

Bitcoin became what it started out as-. electronic cash for buying illegal goods. Eventually, the criminals took it over to use as their own black cash for trading one illegal good for another. This caused a boom in illegal goods, and made the criminals very wealthy.

The link to the video is below
https://www.youtube.com/watch?v=u48ccZ27wfQ&list=UU9rOAPUfZe3KEja0vvFpe_A
https://www.youtube.com/watch?v=u48ccZ27wfQ&list=UU9rOAPUfZe3KEja0vvFpe_A

Thank you for this clarifications. Though it may sounds technical to me but somehow it gives us an idea how this project going. Wishing the success of this project.

Here is a tutorial for dummies about doubling our money and not Bitcoins with scam scripts, remember no one has your best interest in heart to help you double your coins, however there is this thing we call it Bitcoin and indeed you can effectively double your fiat money with it.

But how?

-Simple, whatever you have buy Bitcoin(s) and deposit them in never before used addresses and forget about them for literally 6 long months/half a year.

-Tip: don't pay any attention to news and don't participate in crypto related forums and social medias, it will drive you crazy.

-Result: after 6 months and after your phone alarm went off since you set it to ring in calendar for exactly 180 days, open your browser and go to one of the reputable exchanges and look at the market price, if your fiat money wasn't doubled if you were to sell your Bitcoins then find me and kick my ass lol for bad advice.


Please refer to the Bitcoin price and charts to see if the price did or did not doubled every 6 months.

I can't find anything remotely similar to this can you? and if so please share with us.

ang lahat ng bagay ay may trend na tinatawag, kung alam nyo yung baby boomers? ikto ang nakakapagsabi kung ilang taong mamamayagpag ang isang proyekto, katulad ng mga networking dati, diba sobrang patok to, pero naputol rin ang kalakasan nito. pero sana nga ay magdilang angel ka mundang na tumagal pa ito ng 50-100 years p.

Bakit ka naghahanap?

Yes "nagkaroon" Im not sure lang kay may nagpapatuloy pa sa ngayon to the fact na alam mo naman siguro ang status ng presyo ng kuryente dito sa Pilipinas at marami pang factors like maintenance, rigs, location at iyong mismong mining difficulty at block rewards which is now decrease due to block halving.

Wait natin Sir Dabs baka may info siya. Mayroon naman ibang Pinoy na nagoowned ng few rigs pero di bitcoin ang minimina kundi other altcoins.

Back in my newbie days dito sa forum, there is a user here who owns (daw?) a mining farm located at Davao which is may-ari ng website na Stake*****. Nagooffer siya ng cloudmine that time. But while on progress, naglabas ng expose' iyong isang user din dito na di raw totoo ang mining farm niya. Naalala ko pa nun, may Hero Member ako na kausap noon na taga Davao din (di ko na pangalanan) kung puwede niyang daanan iyong farm since revealed naman ang address. Di niya yata napuntahan para maverify kung totoo.

Located At Sunette towers in Makati (source Google)
Supported operations: Buy and Sell
Cryptocurrencies: Bitcoin,Ether
Fees: Buy 3.4%, Sell 8.3% from BitcoinAverage
BTC price: Buy at 78,031.20 PHP, Sell at 69,034.94 PHP

Sino na po naka try mag btc atm jan? haha parang ang sarap kasi sa feeling pag marami ng bitcoin atm sobrang high tech na ng mundo. hnd raw pwede mag cash withdrawal dun eh cash deposit lang . pag mag withdraw ka siguro dun dederecho mo sa wallet mo tapos tsaka mo palang icoconvert?. di ko padin gets haha. any insights about it? and sa tingin nyo ba na malaki ang potential na tanggapin ang btc na pang daily transaction nating mga pinoy?.