My investment activities in respect of Bitcoin is only in its purchase and storage. I do not invest in all sorts of dubious Bitcoin projects
That is quite safer if you ask me, because those investment projects are not always legit and in such cases you might lose some bitcoins if you invest in them, though you can earn some profits if you invest in trading but that needs understanding and learning. Yes, only few sites niw are legit, most if invddtment site now are scammed or msybe legit for a few days then once they already earned, they will immediately run. Investing is really risky. Theres so many bad people now that are just waiting for thier time to do thier bad plans especialky when it comes to money. I think once you invest your bitcoins, you should be always ready for any consequences that might happen. Its either you will gain profit or you will lose your investment, Don't forget also that legitimate and trustworthy people or projects, or at least, deemed so by you, are as equally exposed to risk as any other venture. The riskier the venture, the higher the likelihood of loss. The mistake of bitcoin investors are completely inflated expectations - for example, that profit is guaranteed or principal is safe, and that anything less than 10% a year is poor returns. That could actually depends on the amount we invested, if we invest millions and that 10% growth in a year is already significant having a decent income. But most of the investors does not have a decent capital but they want to grow their money very fast. Very true, but even in the real world, millions or billions of dollars returning even 5% annually is considered very successful. Anything more than that is understood to be used as cushion for years that will surely make losses. If bitcoiners were a bit more realistic and understood business a bit better, then they wouldn't expect passive investment to grow their capital unrealistically. Another thing with online investments: people seem to think long-term is measured in weeks and months... in the real world, a year is simply medium-term. |
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its hard to trust new services but you can't tell people to do what they should/shouldn't with their money
In the city, where i live, and this city is a big Italian city, with over 500000 abitants, and multiple neiborghood, with other tousands of resident people, is the only 1 shop, that accept BTC (a computer shop) Yeah, I was just saying in another thread that even in my country, which is among the most electronic literate in Southeast Asia, there are only TWO bitcoin ATMs and both in rich neighbourhoods. Normal middle class people (not talking even about working class blue collars) can't even access easily services to buy or sell. But more direct to your topic, I guess you mean hoarding. I agree it's not good in the long term but you really can't do much about speculators who only see bitcoin as a business. |
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There are two in my country but both are located near the capital city... and both in upscale neighbourhoods though I suppose that's the only type of people who would buy/sell their bits at the prices the ATMs offer. Anyway I live really far away (on an island so have to fly to reach the capital).
A little bit like the picture online too I guess, regarding who owns bitcoin =)
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The current bitcoin prices are rising, even almost become a $ 750 price. so, I feel that it takes a very long time if you wait bitcoin price dropped to $ 100, even maybe you will lose if you wait for that moment, because bitcoin prices always go up and most likely the price will be $ 1,000 bitcoin and stable
Stable is a prickly issue... especially if we're talking about bitcoin value in USD... is the USD stable? What would you say is the most stable commodity in the world? gold? It's jumped 5 times in USD value from 2000 to 2010 and then lost half the same value the following 5 years. Look long enough and there are highs and lows. Bitcoin hasn't even had a decade for us to think of a stable price. |
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Bitcoin's use will never be for that. The current system used for day to day shopping works perfectly. The banks and the payment processors that are established are all giving efficiency and convenience to their users so Bitcoin has no place in it. Where Bitcoin thrives and will thrive more is in the black market and online dark markets simply because the banks do not serve that space.
So basically you think that bitcoin is only good if you are a gambler, tax evader or black market user? I do not consider it only good. It is a really excellent tool for doing illegal stuff online. Have you seen the interest from ransomware using hackers? It is increasing. I will not be astonished if we find out that different terrorist groups are using Bitcoin as a tool for value transfer. Ransomware is natural evolution of cyber crime, it is not because bitcoin was invented we have this problem - it is the the other way around. Blaming BTC for ransomware is like blaming RSA encryption schemes or any other encryption method - because thanks to them our files can be targeted... Cryptocurrency is a just a catalyst for every cyber crime but it is too late to back off, if not BTC they would be using LTC, ETH, XMR or Dash - it doesn't matter. Scare tactics and economic propaganda seem to be working as these misconceptions are still pervasive - even within the crypto community it seems. If you think about it, BTC is actually NOT an excellent tool for doing stuff online - not when you have to go through the trouble of washing your bits a billion times (and believe me, the most dogged Tom, Dick or Harry can still trace back your bitcoins). Doing fiat with corrupt bank officials is still the choiciest and easiest way for criminal activity. You can't "fix" the blockchain. |
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The Chinese are wise. A huge bottleneck in gold supply is coming up, and the market prices are going to zoom up very soon. Anyway, investing in gold is much better than investing in the Chinese Yuan (which is no better than toilet paper).
Wiser than you think... the doomsday theories about what happens when China decides to dump all their USD reserves... and now stockpiling gold. They're good at reading the future and China is always thinking 50 years ahead and not 10 or 20. That's why they're also the only ones risking everything to develop Africa before the boom happens on that continent. The Yuan is also actively devalued by the Chinese themselves. |
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If bitcoin died tomorrow it would only realistically be because it has been replaced or had a hard fork consensus.
In the unlikely scenario it just died through some catastrophic electronic wipeout, that's a different story. Depends if we can restore our coins. i don't know how that works out.
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See? It won't take long for capitalism to nudge over the free decentralised principles of crypto.
A pity as this move will exclude even more people from crypto trading. Anyone else doing the same for doge?
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Coin 1: Bitcoin Why: - Heading towards mainstream adoption - Lightning network in 2017 - Most advanced coin - No IPO/ICO 100% fair distribution Coin 2: Litecoin Why: - Development is moving at a very fast pace - Might go up with bitcoin if it goes up - No IPO/ICO 100% fair distribution - Remains strong as ever after more than 5 years of operation Coin 3: Peercoin Why: - Development has picked up a lot with projects such as peerassets, peerticker, V0.6 protocol update etc. - Running for more than 4 years - Oldest POS coin - No IPO/ICO 100% fair distribution Coin 4: Dogecoin (Yes im serious)  Why: - Running for almost 3 years - Strong community - Gets people used to crypto - Has some adoption as a tipping currency Coin 5: Counterparty Why: - Running for almost 3 years - Assets on bitcoin are booming as result counterparty value is rising - Has real life utility with projects like foldingcoin giving counterparty value Except for counterparty, agree that these alts are going to be around and strong in 2017. Doge is always dear to me, I just like its playful theme. But as investments? I couldn't say I'd feel strongly about any except bitcoin itself. |
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A hundred per cent mass adoption, complemented by gradual release of hoarded bitcoins into the market. Price should really not matter if bitcoin never needed to be converted to fiat.
Example in a closed economy, a currency can always be worth 1 loaf of bread no matter how the outside world values that currency.
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I haven't been scammed in bitcoins... I think if you gamble with hyip and investment schemes then you really have to expect to get scammed at some point as you are participating in blatant scams.
You do realise those schemes are scams right?
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I like the fact that it is a disruptive technology. We need alternatives in our lives, and Bitcoin offer us the alternative. If we only had one option for everything, that option would take advantage of their position and they would start to exploit that position. A perfect example of this is the banks. They are in a position of power, because they offered us money and now we are under their control with the debt.
The debt does not exist, because the money was created out of thin air. < If you understand, how they created that money >
Bitcoin is the alternative to many centralized payment options and also remittance services like MoneyGram/WU that are exploiting people with high fees.
I think this opening statement is what attracted most of us to try out bitcoin and any other crypto for that matter. I do wonder what happens when organisations do more to centralise it... WU and moneygram grew and were popular for many of the same reasons and seemed to give people more control back, removing control from banks. But when you consider now how difficult and costly it can be to own or sell bitcoin... |
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This won't happen in our lifetime but we may see a point where the rewards will not be enough to cover increasin difficulty costs and miners will therefore already pre-empt what is likely to be fee hikes.
Hoarders will also slowly finally cave in to demand, assuming more is demanded and adoption continues to rise.
All this hinges on adoption. If there is no demand, then the coin will be abandoned slowly.
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Eh, I'll believe it when I see it. I do think something along these lines is coming, but none of us knows when or to what extent adoption is going to rise. Having hope and really bullish thoughts doesn't really help anyone, and that sort of thing can be detrimental to your wallet.
People need a real reason to use bitcoin over fiat, and so far I haven't seen really compelling reasons. That's heresy, I know, but to me bitcoin works much better as an investment tool and store of value than as a currency to be adopted for spending. But we'll see.
But without real utility, why is it a good investment and store of value? without a reason to use it, why does it have any value at all? This is exactly the question to put forward when prediction of increased adoption is suggested. The simple "here and now" benefits of crypto that would spur adoption are the low fees and anonymity. The fees are climbing and exchangers nullify anonymity. And there is no real utility. All utilisation now is created and not meeting existing needs. Change that and adoption will spiral out of control=) |
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If you're a day trader or scalper then you will buy now to sell at the next 750 wall. Breach that wall and you buy again to sell soon.
If you're a long-term investor or proponent then any time now or soon is a good time.
If you don't think bitcoin has a future then keep your fiat=)
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Doesn't matter because only 5 million bitcoin is left to mine and if they collide and form another big giant then they might mine the rest of the bitcoin within 40 years or less. If they really come into action then we might v have yo pay less transaction fees.
Indeed even an overpowering of the current combined hashpower would mean little in terms of reward as they couldn't possibly get enough of that 5 mil btc left to make money. If the effort were altruistic though then as you say we might look at lowering fees and rising value of btc. But we can forget any consolidation of hadhpower other than for profit. |
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Many of these sites don't correlate to "bitcoin being dead" as some were shut down and others were merely scams.
The most important recent sign the naysayers will point to is the announced closure of faucetbox.
Most newbies including myself took their very first satoshi from faucets and faucetbox is one of the biggest microwallets.
My feel is that rising fee costs (they absorb all fees) have really hit them as they transact dust to users. Their demise is one less avenue for newbies to get acquainted with crypto.
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Adsense does not hate bitcoin. It hardly hates anything except hate sites and the sort of thing the "good" Internet generally tries to avoid.
What adsense does seem to hate is faucet sites simply because of the amount of fraudulent hits from bots and faucet collectors. Worthless hits and click-thrus as people are only there for the satoshi.
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Most of you say don't care, if you don't like them don't use them. But think about users that earn a lot of bitcoin every month. Operator of mining farm for example. There is no way for him to get BTC exchanged to local currency since most of guys won't accept large amounts if the tries to trade P2P. A lof of users are forced to use exchanges (any of them) and it's expected that government is going to try to take control of that
...so? If you live in the US you have to pay taxes. It doesn't matter how you made the money, you pay taxes on it. I don't see the problem. Yes i agree with you every body must be love their countries with pay the taxes, but the problem is how if the users of coinbase are from other countries except USA. It will become problem because of they are not from USA and must be giving the data to IRS, should we be trust in IRS? I am doubt about it. If you don't live in the US or make money in the US the IRS doesn't care about you. So you have no reason to distrust (or for that matter trust) the IRS because they have no business with you. How fortunate sometimes for us who aren't American citizens that these issues cannot affect us directly in this lifetime. Nevertheless, I have never agreed to the sharing of personal data simply because for bitcoin at least, I am here for its anonymity and decentralisation. I want to be left alone, and I want to leave alone. |
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Perhaps you might be aware that people already are trading pokemon, among other online games. There is a huge market of selling and buying online items for so many online games that there are even gaming farms in parts of Asia just focusing on collecting, hoarding and selling in-game things.
So it is a question of people adopting crypto as a means of payment.
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