Isn't today the day 50 THOUSAND Bitcoins are being auctioned off? Seems like people think those buying cheap in an auction will be dumping them soon to get a little profit...
Judging by the calibre of buyers in previous auctions, that is the least likely scenario by a country mile even though it's a beloved theory of many on here. |
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I think they're a harder sell in general than the coins but I'd like to own one anyway. You do see them on Ebay for some pretty outrageous prices so if you're feeling brave you'd get more money there if you figured out a way to bypass paypal.
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If you had BTC, LTC or Doge in a wallet with accessible private keys sometime in 2014 you'd be eligible to claim Clams. It's a few dollars worth per address but make sure they're empty before claiming them.
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Nothing will happen! Oh my gosh relax guys!!
Oh really??? Well, mind explaining it to us? I think the effect has already been started as some small sell-offs have already taken place and dropped the price a bit down, you should thank people that the volume of sells ain't that big yet, else we would have been under 250s till now... It's just another day in bitcoin land. Taking recent times into account, the likelihood of a drop is a whole lot more likely than a rise. The previous auctions have shown that they're effectively separate from any exchange activity. The reason you'd go for the auction would be to remove yourself from having to deal with exchanges in the first place. |
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Didn't the price go DOWN after each of the big retailers started accepting bitcoins???
That was mostly because the big retailers used to dump , and not hold much of the bitcoins. However if a site like facebook is able to integrate btc in their system to be used to send to friends etc, then that will not cause the dump. Why would any company like facebook accept Bitcoin? I understand that we are convinced about Bitcoin here at this forum, but that is still very little and has no influence whatsoever on big companies accepting it. So what would be the incentives? If enough of their users ask for it, they have nothing to lose by integrating it. They wouldn't have bought instagram otherwise. There's no particular reason for them to champion it so they'll probably be laggards but enough demand may bring it along eventually. |
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Bitcoin is not yet big enough to take Russia a stand. They are definitely watching it, but a 4 billion dollar economy is too small for a country like Brazil/Russia/India/China to have a real stand. For such a tiny thing, there's been a lot of noise from politicians, central banks and economists. While the general public is still pretty oblivious, those pulling the strings can see serious potential looming on the horizon. |
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Nothing much'll happen in the wider world. If the previous auctions have taught us anything, it's that they're utilised by people looking for large and pain free purchases away from all the crappy exchanges. That points towards holding and future plans.
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Does this amount of BTC belongs to only one person? or would some group?
A lot of the huge balances are related to bitcoin business, but there are a few individuals with that amount. You would've had to be around in the early days to accumulate numbers like that though. |
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Acceptance is the easy part. Any company on earth can do that right now. The ones who count will be the ones who educate, incentivise and work towards a closed loop economy. there are a few doing it right, we need more.
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It's had all the crashing it could ever want over the last few months. There's been so much of it that I no longer give a shit about week to week movements. We'll either get there in the end or not.
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I'd be pretty reluctant to use it myself, but I think it'll be ticking away in a quiet corner of the market long after many of the present players have turned to dust.
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Seriously, as huge as Google is I don't think it would be a massive deal. Who spends money on Google unless they accept btc for adverts or something but I'm guessing 99% of people who pay for advertising will just stick to fiat.
The biggie would be the upcoming android wallet thing. I agree with you though, there's no way I'd ever give google actual money for anything. |
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Price movement rapidly becomes dull. The developments in the ecosystem are so fast and numerous that I can still lose a few hours keeping up with things a few times a week. Nothing of this nature has been attempted before. My fascination with where it'll end up increases every day.
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I think the bitcoin will reach > 1000 dollars after the next block reward halving, but I'm not sure at 100% (Maybe we should wait until the block reward will be less than 1 bitcoin).
I don't think we'll be alive when the reward is <1btc The block reward will be less then one bitcoin in the ~2032 : https://en.bitcoin.it/wiki/Controlled_supply#Projected_Bitcoins_Long_TermAnd some of us are getting on a bit already. My ticker will probably have exploded like a hand grenade by then, but I'll watch it from my brain in a jar hopefully. |
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In the end of the day, lots of btc "supporters" are active on the exchanges, or sell/have sold a lot of btc.. face it most people want FIAT for their btc
Look at all the people mentioning 10.000$ a coin..they only get excited because of the idea they could (and probably would) quickly exchange their btc for a shitload of FIAT.
BTC will never be a currency this way, its just a playtoy to collect more FIAT.
And it will always be, if things go on like this and everyone is always on about " the price" of btc.
That's the only way at the moment of calculating buying power. If another method pops up then let us know. If it ever did reach that price then the chances are that there'd be a closed loop economy that would be on the way to never having to 'cash out'. |
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You guys think $1000 by end if the year Is possible  Absolutely. I would not be so sure about that. Considered that bitcoin price was that high only for once in its lifetime and for really short period of time. I would be amused if bitcoin will hit $500 mark this year. Prepare to be amused. How many bag holders were created in 2014? I think there will be a lot of sell pressure once we start moving back up through the 300's, 400's, 500's etc. If you've sat on the losses til now, the chances are you're in it for the long haul and the fear of missing out will be just as strong as before if it's blowing up. |
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if a guy from 2010 is saying such negatively it obviously means he wants to drive price down to increase his stash
Do not you think his stash is fat enough at it is? You think he will buy more to sell it later? And that is only reason for his negativity? There is a far greater likelihood that he blew it, hence the relentless negativity. I can't imagine there are that many people from 2010 who managed to hold on to their initial holdings all the way through without selling at the wrong time or getting fucked over. |
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Spending more to 'reduce' your losses seems a bit daffy to me. I'm currently underwater which I fully expected there to be phases of going into it. I've no plans to buy significant amounts more as I have what I set out to obtain and stuck with it. I'll start to feel narked if I'm still underwater in 2017.
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I believe the current limit is about 7 transactions per second, which gives us 604800 transactions per day, way above the current ~100000 transactions per day on the network.
Nah this has already been said a million times that this is the max transactions possible if all transactions are the smallest transaction size (a coinbase transaction). In reality all the transactions are bigger than this allowing more like a max of 3 or 4 t/s If so, an upgrade/fork is vital, things tend to grow quickly on the Internet, we might not have much time to scale the network before problems start to arise. Well, real money is on the line and there's an avalanche of bad press and misconception to contend with. A stupid app can explode from nowhere, but BTC is a hard and complex sell in comparison. I think adoption will come top down and it'll be slow until a lot of extra things are in place. |
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The "there can only be one" camp of Bitcoiners do not understand that altcoins supporters don't necessarily think that any altcoin will overtake Bitcoin in value. I can't speak for everyone, but I believe that Bitcoin will always be the "one" cryptocurrency, the crypto reserve currency.* But there will always be room for a few more cryptocurrencies that are adopted widely just like Bitcoin. These cryptocurrencies will have independent economic models and not pegged to Bitcoin and will have a free-floating market price. All true, except you conveniently didn't mention the free-floating market price of all these reinvented wheels will be free-falling down to zero as bitcoin matures. Sperm is a fun analogy. There are currently lots of swimmers furiously trying to get to the egg of mass adoption. Once the strongest fights its way in the rest will fall away or just swim around forlornly until they're dead. |
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