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@loopes
Please update my rank, I'm a Jr. Member now! Have updated my signature already.
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It is know that bitcoin has made a few millionaires, but many of these people don´t have any particular knowledge of the economy nor business. Do you think that is a fair situation?
This is how things often happen in real life. Some people just turn up in the right place at the right time. They are just more lucky than the rest of the bunch. And a few of them are even wise enough to keep their unexpected wealth and not to waste it on shit. It may be unfair but this is how the world turns and we turn on it. It seems like all we can do is simply and humbly live with that. |
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Not only Kodakcoin there are many more companies who are trying to reinvent themselves in cryptocurrency. Not only doomed companies many successful ventures are also trying to enter into it. We saw telegram creating an ICO. Jio in India is coming a currency named Jiocoin.
Could you elaborate more on Telegram running ICO? Any reliable sources? There were certain rumors and there are definitely a few scams popping up here and there which claim be Telegram's ICO, but as far as I know, there is no official confirmation from the owner. Really, why would they need ICO in the first place? What is it supposed to do and which aims to reach? |
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Hey....Guys
I'm a newbie and don't know about the large investments in Cryptocurrency. But I see This year Bitcoin Price going very high. How the Predictions of 2018? Can I invest in Cryptocurrency in 2018?
Please Suggest me!
The fact that bitcoin has grown over the last year does not mean that it will be similar this year. In my opinion, it will be more likely to stabilize the price of around 20k $. I'm afraid that speculative markets, which Bitcoin undoubtedly belongs to, don't work this way. It is next to impossible for the price of a speculative asset to stabilize at a certain level or in a certain range. As soon as the price stops growing, it start falling. It seems like there is no in-between. |
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You guys should stop making this awkward prediction.
The last time I saw a prediction last year December that bitcon will hit $50,000 in that month alas it ending with a low price of $13,000.
The growing price of bitcon will come but it will not be in such a rush.
It may reach $70,000 but not so fast, probably we may see that price in the middle of 2019.
There is no limit to the upside. Recent price surge, which happened in the second half of 2017, was driven mostly by speculation. If Bitcoin does get scaled up in the coming months, we could expect even more speculation. The major roadblock to future expansion is slow and expensive transactions. Once this issue is resolved in one way or another, we will see the price hitting new highs. |
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feel free to move but i don't think this belongs in the alt section as it applies to the market as a whole. i've been reading about kodak and its coin today http://www.bbc.co.uk/news/technology-42630136and it seems to me that this might be final straw ish for regulators. kodak have used crypto to cross infect their stock price and they're now doing an ico. i assume because it's kodak it'll be subject to some type of existing legislation but i'm wondering if this is gonna set off a domino effect or half dead companies using the crypto wave to revitalise themselves. i would guess that operations like the sec and others would remain hands off as long as crypto remained in its box, but now it isn't. if it's being used to boost stock prices and doing the usual ico trick of taking money and giving back a pointless piece of crap then they're not gonna sit back and let that happen. are we about to turn a corner where crypto enters big business or is shut out of it to the best of the authorities' ability? No, I don't think so. Really, why would a profitable and successful company ever want to walk the ICO path? Are they short of money or what? Regarding Kodak in particular, it is a half-dead company as you say yourself. So they have nothing to lose. Anyway, they seem to be too late to the party now, and I highly doubt if their ICO would bring in serious money if any at all. They should have tried it a year or two ago. |
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I think there is some redistribution of wealth in the world. For example many my friends who had only money for food and rent payments now can start dreaming about travels and more. But still there are many people who lose their chance to earn extra money. That is why I can make a conclusion that rich will be richer 100%, middle class will be richer in approximatly 50%, and poor class will be richer in like 15% (because it's their mindset).
You summed it up quite nicely mate! This is the whole thing behind the rich becoming even richer over time while the poor remaining as poor as they have always been or even poorer in the worst case. I would only add that the poor may not be always poor just because of their mindset. There can be many reasons. For example, they may be caught in a rut and to get out of it may require extraordinary amount of effort and willpower. Though you can still say that it all comes down to the right mindset. |
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I know this subject has been looked at before but with the speed at which the cryptospace changes I felt the subject deserved a fresh look, and why not obtain that fresh look from the experts that are currently at the forefront of using crypto, namely all of you here on Bitcoin Talk forum.
I know there will be a time when it will not be necessary to change from fiat to crypto and vise versa. Hell that time may already be here. If the time has come where that exchanging of one to another is no longer necessary then i definitely need an update because that would save a lot of time and money. So if you would please share your insights and knowledge with the rest of us on what the most efficient way you have found for
It doesn't look like we are now closer to what you hope for than we were 2 or 3 years ago. Steam has abandoned their support for Bitcoin, Microsoft is rumored to follow their lead soon. I've recently seen a chart posted here which shows that Bitcoin adoption by the corporate sector is actually declining over the last couple of years. If anything, this doesn't look very promising. |
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Just that... do you think there is any re-distribution effect at all due to bitcoin?
There can be some redistribution effect of Bitcoin but it should be really minuscule. A certain number of people have become rich thanks to Bitcoin, but it is more like redistribution of wealth between the moneybags themselves. They are the ones who can buy bitcoins in big amounts and sell them later booking hefty profits. |
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that's why we need some decentralized exchanges
Agree, many exchanges now getting stricter with personal identification as example Poloniex want your identity verification. I believe this is the right time for decentralized exchanges to shines. As much as I want it myself, people don't like changes much. They are used to trading at centralized exchanges, and it will be hard for them to switch to decentralized ones because they would be an entirely different experience. There will be no more exchange sites, all trading will be done through personal wallets as I understand it. |
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Bitcoin price last year was pretty good but today price is volatile. Bitcoin price this 2018 is really unpredictable but if you are planning to invest you can go ahead and invest but don't put too much money on it, you can still try to other altcoins that you can invest.
The price today is as volatile as it has always been. We saw quite a number of crashes, or corrections if you don't like the word crash, just a year ago on Chinese FUD, and even before that. It is not uncommon to see the price go down as much as 30-40%, it is just the price has grown so high that we are scared out of our pants today when it tanks. |
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I think it may reach 50000$+ by the end of this year for sure. Bitcoin is getting 10x every year and this year the price has already reached $15000 and $50000 may not be a big leap.
10x from $15,000 would be $150,000, definitely not $50,000. But $50,000 would still be pretty impressive for a timespan of a year. If Bitcoin is equipped with technologies like Lightning Network, we will jump there in less than no time, though deploying these technologies may take quite a while given the unwillingness of the miners to agree to any changes which affect their profits. |
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Hi all. New here. Bitcoin was created with an underlying concept of decentralization. It was hard to convert dollars and other currencies into bitcoins, so exchanges were born, but now, if Coinbase adds a new cryptocurrency to the platform, prices for the cryptocurrency goes up? That's not cool. Too much power. Coinbase and others are becoming these huge businesses that in my opinion should never exist. How do we make exchanges obsolete? Thoughts?
You should look no further than decentralized exchanges. They can hypothetically make regular exchanges obsolete but there is still a long way ahead. There are some efforts to make it happen faster, I mean projects like BitShares or Waves but they are not very popular as of yet. Perhaps, their time simply hasn't yet come. We need to fix Bitcoin first. |
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That's a problem, Satoshi didn't create Bitcoin as an investment but as a currency. It hurts Bitcoin, to a certain extent, to call it "investments"
If Satoshi wanted to create an investment he could have opened a bank and sold useless life insurances and other products that are usually found in it
But it is not that bad to have your coins to be worth over a dozen billion dollars, is it? And while Satoshi might have envisioned Bitcoin as a payment system, now that one bitcoin is worth almost $20,000, it still looks like a better idea than selling useless life insurances and similar stuff. |
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I was just reading this article in this months The Spectator https://www.spectator.co.uk/2018/01/why-cryptocurrencies-are-the-answer/ and there it was in the last sentence of the first paragraph: The craze for cryptocurrency can be explained by a host of factors: the allure of getting rich quick; the attraction of off-the-grid accountancy for malefactors like tax evaders and drug dealers (though Bitcoin is traceable); the glamour of the new. Despite blockchain currencies’ wild volatility thus far, I’d still posit that the more underlying attraction is to a reliable store of value. Bitcoin investors may not recognise their motivation as such, but the impulse behind computer-generated currency is revolutionary: to take the production and control of money away from government.
This was exactly the motivation I had had back in 2012 when I first became involved, but it is far too easy to lose sight of that over time. This is about taking back control of money from those that have devalued it so recklessly over the last century. As the article goes on to point out both the US Dollar and the Britsh Pound are now worth 1/100th of what they were 100 years ago. I find it interesting and unusual that a mainstream publication like The Spectator actually gets what this is all about. Personally, I think it is mostly the get-rich-quick thing. But even though I agree with the part you emphasized about taking control over money from the government hands, control over Bitcoin is still or already in the hands of the few. So how is it different in this department? |
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Of course, if you don't pay off your credit card debts on time, then it is a big problem. This doesn't seem to be a problem, with less than 4% (22% of 18%) actually not paying their bills on time.
In the case of a price drop though, this amount is likely to increase massively. After all, we're talking about paying off debts when your investment most likely increases in value (during a bull market). IMO, this part is the most worrying: Additionally, 88.89 percent of that same pool of investors plan on paying off their credit card bill from the money generated after selling their Bitcoin
It's definitely a huge risk when a bear market comes around. As with most euphoric speculators, these sort of people will eventually get a slap in the face. That's kind of normal. If you buy bitcoins with borrowed money, you are expected to pay off the debt with the income you hope to earn with this investment. But it doesn't mean that you have no means to return the money if Bitcoin doesn't go your way. You may have other investments which you will have to liquidate in that case. Point being you shouldn't consider all these people irrational or out of their mind entirely. |
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I would not really use this analogy. Heroin long term kills you, Bitcoin probably will just make you rich long term, which is quite the opposite of death.
If you don't die from a heart attack in the process, of course. But when you are rich, then you can buy a new heart. There is little that money cannot buy, right? So Bitcoin seems to be a worthy piece of shit after all. |
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Bitcoin is the only somewhat "stable" cryptocurrency from the lot. Proof of this is the fact that it is still running after almost a decade of activity and that almost all of the altcoins created have an evolution course strongly linked to BTC growth. For a better analogy think of BTC as the tree and altcoins as its leaves; the leaves can get replaced by other leaves but the tree has to remain there or there won't be anymore leaves.
What do you think about BCash then as well as other Bitcoin hard forks? Does your analogy fit here and how well? Myself, I'd rather think of this currency as another tree with its own leaves maybe. Obviously, if Bitcoin's tree gets chopped down, BCash will only gain from more space and sunlight. |
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