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No. I dont think cryptocurrency will make real money disappear. Maybe in the future , in next 100 years but it is not going to happen very soon. Just think that real money are used since year 500. Every single person use money every second/minute/hours etc. It is going to be impossible to make real money disappear in a few years. Also a lot of people dont even know what is that GOOGLE. How do you expect them to use something that they never heard about . I do think real money can be replaced but not very soon
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In reality you can trade today your salt(goods) with other, so they don't really loose their meaning, but their value is just dropping.
BTC will not take over anything, because pretty unstable/limited amount/no control over it.
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If inactive means nobody has access to the funds, nothing.
If inactive means somebody isn't spending the funds, nothing.
If inactive means they sent a small percent of funds a month ago, nothing.
The only time the Bitcoin network has anything to do processing wise on an account or address is when a transaction is sent.
When a user is syncing to the network, they will verify all funds have a link to a previous transaction to prevent double spending.
When a transaction is sent out the account funds are verified to have correct balance and the account is checked to its previous transaction to ensure that it hasn't already been spent.
Other than this there is really no definition of an inactive account, processing only happens to verify old transactions once on synchronization, or verify transaction on accepting to memory pool, and lastly verify it when transmitted in a block.
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It is time for the DPRK's internet to become an intranet.
Problem is, the NK hackers work in China. |
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I grew up really poor but saved a lot of the money I made in high school. I invested 10,000$ into btc when it was at 220 / coin, just sold for 75Gs. Buying a property for me to live in, first one in my family  edit: I'll look into paying the dang capital gains tax, jeez. Edit 2: Also sorry guys the price tanked when I sold  Should have only sold as much as needed for minimal down payment. You will do better holding bitcoin than dumping it into a house. |
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Thanks for the post! Have you looked into the same sort of comparison but for private blockchains? I am currently struggling to find that kind of information Private blockchains rarely use POW method as far as I know, so they may have less issues with speed. However such approach increases chances of abuse or compromise. |
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Excuse my ignorance on the topic but you say short selling is harm, however, I don't think you mentioned what short selling is. I am not familiar with the term. Could you please explain.
Assalamualaikum. I want to know about my investment with bitcoin.i don't know how to describe my investment etheir it binary or what. I give example. I invest 0.005bitcoin.the company have 2package with is 1) 147% profit for 6week, daily profit 4.5% 2) 180% profit for 9week, daily profit 8%. My question is...It's Halal or Haram? |
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i simply dont understand what kind of regulations this baldy is talking about,do we have regulation in marriage where a muslim guy can marry 4 times at the same time keeping 4 ? do we have regulation on how much looting congress can do from india ? do we have regulation on how much money can be stashed in foreign banks ? do we have an accountability to people other than using them as tools to get elected ? if not ,shut the buck up,people will want to end the slavery and idiotic democracy that runs with an italian woman intercepting a young indian and killing the guy to get to power and trying constantly to get son into the throne of indian PM post,gone are those days we used to sound gullible,not anymore,we know more economics than you and your entire family knew ,we decide what we want to do with our lives,not some fake gandis and fake yadavs and fake good for nothing subserviant to vatican agenda sick people who wear turbans.
So the people who have already robbed us blind need to regulate and rob us blind again. No Thanks. Governments can choose to either do nothing – which is okay; make things worse for cryptocurrency trading – like what Australia did by imposing sales taxes on all cryptocurrency transactions; or they can make things easier for companies by reining in the banks and encouraging companies by creating a level playing field,” Government can't 'create' a level playing field because the field is already level. The only tool government has is a sledgehammer. It can only restrict markets. It can only destroy level playing fields by distorting the playing fields with force and violence of restrictions. Future will be regulated, whether we like it or not :p |
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This has happened so many times exactly the same MO. PBOC says " we ban bitcoin" weak hands sell, they buy up cheap coins. Then they say " jk we no ban Bitcoin!" And then the price goes back up.
A hard crash like this doesn't seems like something that the market would recover from in a week or two. People should be prepared and wait for a better entry point. Caixin is a legitimate news site. People should seriously consider the possibility that this might not be fake news. The market might go down much further. Remember not to bite more than you can chew. Bitcoin can't be killed. But in the short term there are huge waves that could swallow you whole. Take care guys. |
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Hello! I don't know about AUD-KZT; as the others said, banks should be able to do it, but I would also suggest bringing USD to be safe. The smaller money exchange places usually have a better rate than banks - but if you feel safer/more used to it, go to any bank. At any independent exchange place, you can expect to have a calculator next to the window. Don't be afraid to count your money right there (all of those places have a sign that says please count your money AT the counter) - so you can make sure the amount is correct and they know you counted it right in front of them. If you decide to go to one of those, this is our usual spot  it's in the same entrance as the notary. Wonderful thank you very much! It would be really problematic to change directly from AUD to KZT. Even if you find some place, exchange rate would be much higher. You would be definitely better off to come with USD. What do you mean by money changers? No problems. I will bring USD! That's easily done. Some countries have businesses that do exactly and only that - exchange money. Places like TravelEx etc. According to even Wikivoyage "Along Respubika Avenue you can find a number of 24-hour currency exchange" Aah, okay. There must be plenty of them. I am more used to calling them exchange place(shop). That's why I didn't understand it immediately My advice is:Download app 2gis. It is city guide, works offline, has english version and generally offers better info than google maps. Hope that you will like your time there Wonderful - thanks for that. I will download it now! |
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Bitcoin is used for extortion by corrupt individuals, and should not be recognised as legal tender. The sooner the bubble is burst, the better.
Unlike USD and GBP, which has never been used for illegal activity? So is gold, so are diamonds and so is cash - US$, Euros, etc. Must we stop using that too and make it illegal? Everytime you use a banknote to buy something at a supermarket, somebody else is using the same kind of banknotes to buy drugs, arms or bribe someone. |
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I agree that some stocks have value related to the valuation of the companies, but some are hugely inflated, and are based on future gains (eg Tesla). Similar to Bitcoin - people are speculating on the future value of the asset.
Also there are other markets which have very low, if not non-existent "backing" that sustains their value, such as fiat currencies and gold. Yes, gold has some industrial uses but its high value is based mostly on belief. And yes, you can pay taxes in fiat but its value too, is based on collective belief.
Bitcoin is the same - it has no intrinsic value per se (really the only things that have true intrinsic value IMO are things like food and water), but people's collective belief gives it value, because so many people understand the implications of such a technology.
If the bubble pops (if it is a bubble), then there will be plenty of people buying back in at lower prices and sustaining the value - it's not going away without something drastic happening, such as a flaw in the protocol - and this becomes less and less likely as time goes on.
Stock markets also rely on sentiment and they are priced in fiat currency. What happens when "sentiment" changes about the value of that? I most certainly did, keep laughing till you are broke. Care to comment on derivatives? I can see the sterling being 1.2 per dollar but i can also see it being 300 for a dollar. It is faith that makes the UK a developed economy. In a coordinated financial attack we can become as poor as an African nation |
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Shares have more of a "real" value, because they give you access to something beyond ownership of the instrument itself - you own a stake of a company that has physical assets and (hopefully) makes profits, a share of which it may well pay to you in dividends. Buying shares is an investment that brings returns beyond mere rises in the price of the instrument itself and is underpinned in part by real, useful assets.
Bitcoin is a currency. Buying currencies for any other purpose than buying goods or services with them is speculating. Furthermore with Bitcoin, it's impossible to work out how to assign any value to them. You can get an idea of the real value to you of a physical currency by looking at what it can buy you with it in its country of origin (compared to what you can buy elsewhere with other currencies), interest rates in that country, inflation, and how rapidly the currency base is expanding compared to economic growth. With Bitcoin, how its value should be measured is anyone's guess.
You are exactly right. Bitcoin is approaching 10 years~ old already.I am under 25 and people my age are already accustomed to digital everything... I don't see this going away Bitcoin is the future. Failing that, cryptocurrency is, anyway. Any loss in monetary value is more than made up for by golds’ prestige and spending power.. It's a bubble looking for a pin, and as always happens will pop when people least expect it. No thats the stock and bond markets. The stock and bond markets have an underpinning foundation of assets based on a valuation of companies and organisations trading performance, growth or downward trajectory forecasts and their ability or otherwise to repay their debts. Cryptos have absolutely nothing of value to support or sustain these valuations other than sentiment. That's why institutional investors have started flooding in. Futures trading has been authorised in some US states. This is just the beginning and please Guardian can you please try to present an accurate Bitcoin article for once - Bitcoin does not have to be stored online. It can be stored in a physical paper wallet or in several types of offline wallets |
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Shares have more of a "real" value, because they give you access to something beyond ownership of the instrument itself - you own a stake of a company that has physical assets and (hopefully) makes profits, a share of which it may well pay to you in dividends. Buying shares is an investment that brings returns beyond mere rises in the price of the instrument itself and is underpinned in part by real, useful assets.
Bitcoin is a currency. Buying currencies for any other purpose than buying goods or services with them is speculating. Furthermore with Bitcoin, it's impossible to work out how to assign any value to them. You can get an idea of the real value to you of a physical currency by looking at what it can buy you with it in its country of origin (compared to what you can buy elsewhere with other currencies), interest rates in that country, inflation, and how rapidly the currency base is expanding compared to economic growth. With Bitcoin, how its value should be measured is anyone's guess.
You can say that about any investment though. Hindsight is always 20:20. I wish I'd bought a ton of Glencore shares two years ago. It doesn't work like that. Yes but if I had bought gold 5 yrs ago at $1700 and ounce and then read today that my gold ' investment ' was only worth $1300 per ounce I wouldn't care less what my gold investment was ' backed ' by . All I would know is that I had lost money. If gold is backed by something physical does that mean I get my initial stake back ? |
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It's a bubble. The bubble will burst when significant amounts of people try to cash in on their investment and find that there are not enough buyers looking to pay cash for bitcoin.
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When I can go to the fancy restaurant or The Bay or the corner store and pay with bitcoin, I'll trust the platform. Until then, my money is in garbage. We will always need to process our waste. And my house...maybe my kids'. Real estate never loses, not in the long run.
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Bitcoin just needs to pivot
As most entrepreneurs know if people think your idea is crazy you are probably onto something. The companies that are emerging around bitcoin usage should look to other markets. Like countries that have unstable governments, like areas in the Middle East and Africa. Bitcoins would be appreciated more there rather than the country's own currency due to the governmental uncertainty. Emerging markets might also be a good place for bitcoin. They might prefer a currency that already has unique markers and system for identification. Areas where they bank just using cellphones might also be a good niche market for bitcoin. It might have been dealt a blow by the Silkroad closure, but it is not going away. Remember that Apple's first computers were crappy children's toys but look at them now.
Computers and bitcoins are two totally differen things so to make that connection that this can grow to be the leading currency isn't a good analogy. What good are bitcoins as a currency in Africa if it can't trade beyond it's border? Is there any physical wealth backing it up? If a bank won't convert it to cash for you, what value does it have? Once it becomes regulated (no banking system will trade in uncontrollable and unregulated currencies) it become the same thing we have now.You'd do much better mining for gold then bitcoins, as with the fist it is a tangable, physical medium that fluctuates in price. Response "Is there any physical wealth backing it up?" William, you've struck the bedrock of what constitutes "value" with the shovel of a stupid question. Bitcoin has value because, (1) it's scarce and (2) it has specific attributes that make it an ideal store of value and "programmable" medium of exchange. You need nothing else. "Once it becomes regulated (no banking system will trade in uncontrollable and unregulated currencies) it become the same thing we have now." It becomes the same as what? Please read Satoshi's original White Paper. I don't think you're correctly understanding the technology behind the protocol. http://bitcoin.org/bitcoin.pdfIn other words... ...it's backed purely by supply and demand. If demand goes away, then the value goes through the floor. .. What isn't backed by supply and demand? That's how a market operates. Again, Bitcoin has value because, (1) it's scarce and (2) it has specific attributes that make it an ideal store of value and "programmable" medium of exchange.It will never not be (1). The only way (2) will be eliminated is if a more efficient technology comes along, in which case we're all better off. Bitcoin is only valuable as a medium of exchange Gold and silver, on the other hand, have many useful characteristics entirely separate from their trading value (even the tobacco traded in 18th century Virginia had that). This is what is meant by "intrinsic value".In other words, bitcoin qualifies as fiat currency, even though it's not imposed or backed by states or even private institutions. Wrong again John "Intrinsic value" means something has value in and of itself. Gold has limited intrinsic value as a metal, due to it's specific physical attributes. The Bitcoin protocol has intrinsic value as a means of exchange (a currency), due to specific attributes of the technology. Inevitably, it may begin displacing currencies with inferior properties. After all, money is a commodity like any other, and it must compete for the attention of those who use it. |
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It allows me to make payments around the world with ease. I can't even explain how much better it is than IBAN / Swift!!!!!!!!
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Yes, I it will certainly be the cryptocurrency with more devoted attention ever for quite a long time. For better understanding of where we are today, drink a bottle of a good wine and watch this youtube video. But don’t drink all the time, please. Use alcohol with caution and wisely. |
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I don't time at all. I just recognize where I have the money that I want to put into it, and then just buy it at the price it's at, at that time. Same for btc purchases.
If you're confident in the use-case of bitcoin, it really matters little when individual exchanges happen.
Do that, and if you're feeling more advanced implement an Optimal Growth Strategy based on the Kelly Criterion. If you're not a die-hard, never-sell hodler, of course. As someone who can't afford a ton of Bitcoin I am hesitant to do this because of the miner fees. Having to pay miners fees from the exchange to my wallet and then back to the exchange can be a decent percentage of profits when you have to do this multiple times. There is no real need to DCA, especially with concerns re: high tx fees. Just wait to see a slight fall in price - not long, not wait for a big crash, just a little dip from the absolute top prices - then buy, and wait a few years. Guaranteed gain unless you bought at the peak of a +300-1000%-price-appreciation-in-~2-months-bubble. |
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