I absolutely disagree with the statement that if there is bitcoin, then altcoyins are useless. Such a statement is unambiguously incorrect. Bitcoin is a universal coin that can not perform a variety of functions in different areas of our lives and perform the work that various altcoys are doing. Bitcoin now can not even cope fully with its small and few functions. The main role for man even now is not done by bitcoin, but altcoyins. Therefore, their diversity needs to be increased in the future, and the ICO should be supported unequivocally despite some shortcomings and risks for investors.
No, altcoins still have some uses but the point of the OP is that the new developments of bitcoin will give it even more characteristics and use cases that will allow bitcoin to perform even more functions, think for example of atomic swaps, this will allow us to exchange our coins without the need for an exchange, this will not completely replace exchanges or decentralized exchanges but it will be a major blow to them, as you can see the developers are working hard to expand the functions of bitcoin and this can only spell doom for altcoins. |
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Couldn't have said it any better. Matter of convenience aside, barter would really require that you trade the item so it's not always easy. Of course there were enterprising people in the past that bought goods they don't need for reselling but without money, it was all really cumbersome.
Money also had the added benefit that it is also a store of value, which was great for people that produce perishable goods.
This is the main reason of why the economy began to form when people became farmers they could get a lot more food to what they could use in a single day so they needed a form to retain some of that value and that is how currencies eventually were made, the farmer could lose the value due to perishable goods but with a durable form of money the wealth he created could not be destroyed that easily and stayed in the community this eventually created the capitalist economy that we know. |
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It's disappointing that one of the great pioneers and minds of our generation takes such a narrow minded approach. It seems as if he 'spoke' without really thinking about what he was saying. USD is equally as bad if not worse and many of these illegal transactions require PCs to transact. Let's not forget that bitcoin was developed in windows...
The same can be said about almost anything, look at cars the biggest cause of deaths among the young population have to do with driving under the influence of some intoxicant and yet no one wants to ban cars and the reason for that is the benefits we get out of cars outweigh the costs and the same can be said about bitcoin, bitcoin as a tool will cause some damage to society but it will also cause a lot of good and since the good effects are way bigger than the bad effects then bitcoin will keep growing and its adoption will grow as well. |
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While the first option is legitimate the second and third are pretty trash can like options. You have two centralized coins that have learned nothing about the whole fiat debacle and are trying to cash in on the next craze. I am sorry but I will not be a part of that sham, we were already apart of one sham system not again for me.
I suppose you mean the third and fourth options since litecoin is very similar to bitcoin and it is a good option, but I agree with what you say, while I like the profits I get out of cryptocurrency the first reason I got into it was because I needed a way to pay for a product and the regular channels of financial institutions were not an option, bitcoin gave me that option and I understood this was going to be next big thing, if I wanted to invest in something part of the old system I will invest in stocks or bonds or in other currencies but that is not what I want so coins which have connections to the old system will never get my money. |
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I invested in Ethereum and bitcoin before a while and I will not sell these two coins before 2020. I am just taking some profits over the time to secure my invested money and I sell some to pay bills and other stuff!
Selling at 2020 is too soon, we are going to get a halving in that year and if you sell before that you could lose some great profits at least in your bitcoin investments so if you are planning to hold until that year anyway it could be a good idea to at least hold until the halving and wait for the price increase, at least that is what I would do if I was in your shoes but I personally plan to hold for even longer, I will hold for as long as I can since right now I do not have any need to use my bitcoin holdings at all. |
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The cycle of 10 years back, the economic recession of 1998, 2008 and the next will be 2018. That is possible. I think other market capitalization will pour into cryptocurrency. I am keeping the altcoin well and waiting for the miracle to happen later this year.
Crisis do not happen with that absolute regularity but it is true that in most decades there is a big scare and this decade is ending and we have yet to experience it but that does not mean things are getting better this probably means the governments are doing everything they can to avert the crisis and when they ultimately fail we are going to see one of the biggest crisis in the history and when we see we have not even recovered from the previous one then this is the time to accumulate assets just in case something terrible happens. |
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I expect the prices to go up at least 40-50% from what it is from right now. The crash took around 60-70% of the value of bitcoin at its peak at the worst spot in the trough, and whenever that happens BTC seems to bounce back to at least 70% of its ATH value. Most of the time, we even go onto a price hike and break the ATH.
Right now, we're only around 55%.
Conservatively speaking, expect at least $13k per BTC in USD in March or April which is generally much better performing than the months of January, when we saw the big crash that happened. The recovery can be a bit bumpy so expect corrections here and there as well.
I agree, after a pump there is a dump and most of the time the price correction is too big and it does not reflect the true price of bitcoin since people are in a state of panic, this can be hard to overcome after the initial phase of dumping the coin but eventually bitcoin will recover, 12k to 14k seems an appropriate range for the price of bitcoin, and this means the current prices are very good even a bitcoin above 10k is still going to be a good investment. |
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There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
better that you will gone first before bitcoin,youre idea is too far from reality yeah theres carelessness when some bitcoin holders forgot their password,some have dies without giving password to others,some have just gone withhe wind,but this are isolated cases.dont be generalized because the volume of bitcoin is enough to stand for long years.enough that you will gine fist before btc does Besides there is no way to know if some coins are lost or if the owner is simply letting his coins in his address for a long time, unless some kind of list is maintained about this then we are never going to know how many coins have been lost, as an example satoshi is said to have more than 1 million bitcoins and yet we do not know if those coins are just sitting there or if those coins are lost due to satoshi passing away or by him deleting the wallet files. |
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they always say exchanges aren't your bank!
even Myetherwallet says that when you first go to the website ,It gives you the private key though!
so better just keep the amount of money you want to trade with , keep the rest of it somewhere safer.
But this is the way many are using exchanges, they are using exchanges as their banks and we know how dangerous that can be, exchanges have all the same problematics as banks they have full control of your money and until you get that money under your control then you are subject to their regulations which is something that bitcoin wanted to avoid in the first place, so unless people begin to think more about why bitcoin was created instead of the money they can get with it we will keep having people using their exchange wallets as their personal wallets. |
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Dow Jones -300 points today.
It seems is recovering now since the market is green, however I have the feeling bitcoin and stocks are not correlated and in fact can become negative correlated, so when stocks go down in certain circumstances the price of bitcoin will go up and I think the biggest chance of this happening is during a crisis where people will try to find a way to protect the money they spent a life accumulating and one of the answers will be to invest in bitcoin during those difficult times. |
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So here comes the ico's that pay dividends. I want your opinion on them. Would getting your dividend in any altcoin be good enough, or would you prefer a straight out flat percent of company profits in btc?
Your best bet will be to find casino tokens, there were several icos like that just some months ago, I do not know what happened to them but some of them were established casinos so they should have paid some dividends already, personally I think there are very few coins which will be able to pay significant dividends and if we take into account most alts do not last long then it is better to invest in a coin with a great future even if it does not pay any dividends. |
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I am not so sure it will be legal, at least for US were I think majority of users come from. Did you know that US sued (in US courts) the Switzerland bank for not disclosing that one of their customers was an American and not surprisingly US won and (maybe more surprisingly) eventually the bank paid the fine? Of course all the banking was done in Switzerland, but still US could intervene. So it seems that US can prosecute you no matter were you do your banking. I am not sure on what Israel may or may not do. This article is on a different but closely related story: https://www.huffingtonpost.com/2011/09/04/us-switzerland-tax-dodging-sue-banks_n_948362.htmlBut that is because the US citizens need to pay taxes to the US government because the law in that country force you pay because of your citizenship and not for residence as it is the case for most countries around the world, which is one of the reasons why more Americans than ever are giving up their citizenship but I'm sure they will change that law in the future and they will charge you taxes based on where you were born since that is something that you cannot change. |
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So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?
It will depend on why did this happened, if this is because of some sort of bug in the code of bitcoin we can expect to see a huge crash of the market where only the best coins will be able to survive, but if this is simply the result of a new and better coin surpassing bitcoin due to its superior technology then the transition will be smooth, bitcoin will still be valuable but not as much since it is clear that much of the money that is currently on bitcoin will move to this new coin. |
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I have read many posts of people saying they are sorry to have missed Bitcoin. But I wonder if they realise that there have been more than 20 trains out there that could have made them millionaires. They have managed to miss at least all these, some of them as recent as July last year. It is not that you missed Bitcoin, is that you (and I) just missed many many others  NXT 2013-09-28 +1084215% IOTA 2015-11-25 +418179% Neo 2015-10-01 +354482% Ethereum 2014-07-22 +265772% And the recent ones... Populous 2017-06-24 +12181% QTUM 2017-03-12 +10091% Be honest to yourself... you did have a chance! I do agree with you on this. Most people lament about their lateness in knowing about bitcoin without having the knowledge that there are so many other coins that could have made millionaires in the nearest future just like bitcoin did to those that accepted it early. Bitcoin as at now is quite expensive for some people to buy but they can still get to buy Ethereum. The price of Ethereum is still very cheap at about $1500 which is still affordable by people. The price is not in what you should be concentrating, but the size of the market cap and the size of the market cap of Ethereum is massive as well, you already lost that train as well, what you really need to do is to find good projects with market caps under 20 million that way if it becomes a huge success you can easily earn 10x your investment and if you are lucky you may even earn 100x your investment, is not easy but nothing that is worth anything in life is easy. |
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It's certain that the hard caps are high and that there are more and more... But some ICOs like crypterium or titanium still managed to reach it! I think the real problem is that it dilutes all this money on the market cap and therefore prevents good projects from succeeding  Well, the market cap will always keep getting pumped up as most of these ICOs keep popping up and there is really nothing we can do about it. Nevertheless, ICO in all is becoming a sham as we end up seeing even projects that do not require ICO coming up with some bullshit product and looking for funding. I feel the whole space is a joke, but at the end, like you said, there are still some good projects, it is just to find them and invest in them irrespective of what happens, but I feel the pain of the OP and some other guys though, where you see the value of the coin you are holding lesser than the value during ICO. This is why eventually the market of icos is going to become less dynamic, what it is the point of investing in them if you are not even supporting a real project but a scam, most of the time nothing comes out of icos and it is just a huge scam in which everyone is just trying to not lose money when things eventually fail, so with that in mind is really difficult to take seriously their demands for even more documents when they should be the ones going through a know your customer/developers policy and not us. |
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how to check the bonty program is legit or sexcem. sometimes there are bounty programs that do not include the spreadsheet
If the bounty program does not even include a spreadsheet then be careful, this does not necessarily means it is a scam but if they do not even take the time to keep track of the participation of the bounty hunters then how are they going to pay them, a likely answer is that they wont, not having a spreadsheet is a huge red flag, most of the bounties I saw that did not paid their participants were bounties were a spreadsheet was not used. |
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No way, just because bitcoin is making upgrades doesn't mean alts will go anywhere. Granted, a lot will probably die off, but there are still better options than btc.
As a currency bitcoin is unsurpassed and we should not expect that to change at all, there are only some coins that do something better but there are not many coins like that, After all how many versions of Ethereum or monero do we need? We do not need hundreds of versions of the same coins this is why despite the huge number of coins I will say there are only a few dozen projects that are worth our investment and that can survive for the long term. |
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Be patient. Make a deal with yourself not to check their price too often.
Without any knowledge of the coins you are holding, chances are that more then half of them will fail.
With a little luck 1 or 2 will make you happy enough to compensate for the others.
I'm not so sure about that strategy, what I mean is when you select good coins then you do not need to watch them everyday or to try to be on top of everything that happens, but when you buy coins that are new or are not as solid then you need to check them everyday after all those kind of coins can skyrocket or can crash in a matter of days and in some cases even hours, so while your advice makes some sense it is not something that can be applied to all coins. |
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Money is one of the important concepts, This section talks about money from the perspective of microeconomics.when people exchange goods and services without using money, this is called barter. "I'll cook dinner if you'll do the dishes" is an example of barter. Imagine an economy in wich i can sell services as a consultant to banks, but what i want is to buy a new suit. the clothing store that sell suits does not have any use for my services as a banking consultant. i sell consulting services for money, and i buy a suit using money. money serves as a medium of exchange. the bank does not sell suits. how can barter work?
This is why we need money what you are describing is the greatest problem with barter, it is called the coincidence of wants, in order for a barter to work both people need to want something from each other and if that is not the case the transaction cannot occur, this is why money was created so no matter what you or someone else is offering you both will have something the other wants a medium of exchange, if you still want to see barter in action watch your favorite sport and wait for the trade season. |
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Yep, unfortunately magazines like wall street journal and other of the kind predict new crisis is coming, and this fact scares me out of witts. We live below the poverty line, earning maximum 300 dollars a month. Bills are nearly a half of it.
Economic crisis affect the most to the middle class, those that are poor are not so affected since in rural areas they produce their own food so they are not that affected, and the rich are not that affected as well since they have many hard assets like real estate and gold, the middle class is the one that suffers the worst consequences since most of the time they have huge debts and they cannot keep paying those debts if they lose their jobs so not only they lose their jobs but their assets as well. |
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