Wall Street could push Bitcoin over $100k. Bitcoin went 100x in 2013, why not again in 2014?
Fairly simple actually, stocks don't grow exponentially after a certain point, it just isn't feasible. XBT increased its market cap in one year by ~10B. Which was a great feat. But for XBT to increase 100x again, the market cap would have to increase from 10B to something with way too many zero's on it in one year.  Can it get there eventually? Who knows. A LOT of factors have to fall into place for that to happen. [1] BTC is not a stock, when will you stock people understand this, do you understand that no one made money selling stock/buying them? All you do is swap around existing fiat, that is gov controlled by basel III CCR, through FRB. [2] In here (the BTC forum) it looks like everyone knows about BTC, out there, look around, I can go to any public area, shops, beach, park, and everyone I see, 10 000's of people, none of them know about (in any actual detail) and less, 1/100,000 have btc. [3] BTC is an S curve uptake event, that will likely go faster as it gets bigger until it reaches saturation, like email, microwaves etc. The saturation point is some where in the xx trillions. The only question that remains it what share of the pie will BTC, vs LTC, PPC, NXT, EMUNIE and  [4] Wealth will flow to whatever entity legalises/ uses BTC Since Singapore Denmark, Germany have legalised BTC capital will flow to them, the city of London, will also come online, which operates as a power unto itslef, with thousands of years of history. Where there money to be made the City will do it. Thats why it does +1.3 T forex a day. BTC can fork to tech that it needs, has a competent dev, and network effect, but you never know. |
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[1] block reward goes down so less btc rewards to fund mining, though transaction may become more valuable
[2] PeerCoin/NXT/emunie gives answers to this question. Nothing to stop BTC forking to PeerCoin code base for mining
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this thread keeps coming back needs. Subject to be stick-ied in tech board
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build a system that can interface with 90% of banks in such a way that it goes from bank to p2p trading platform and back seamlessly, and the banks cant object or even know about it.
The bank just sees the money transferred to what looks like another account at another bank or international wire.
that is the killer idea.
it is all open source and people can right their own api's/plugins for various bank setups to integrate back.
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The conclusion that I've come to is that if bitcoin was created by a government organization, it was done by a very small group of individuals working without the knowledge or permission of their superiors.
I've come to the same conclusion, and really if we're talking about a small group of individuals working sans permission from their superiors, it really doesn't matter whether they're with the government or not. Satoshi, whether a group or individual, was incredibly clever for not coming forward publicly to claim Bitcoin. This focuses people's attention to the technology, not the man behind the technology. How many times have we seen the messenger denigrated as a way to distract from the message? I agree Satoshi was incredibly clever for not coming forward publicly, but for other reasons, he has essentially semi deified himself, entered in mythology and there can be little criticism of him, nor can he be decried, or make a mistake. He would have faced all of these issues had he remained public. It interesting for that Satoshi had enough foresight to actually understand the implications of what he had just done so many years out. |
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i wonder how much the confiscated Ross Ulbricht coins will be worth a few years down the road. I can see the headlines already: "jailed man single handedly paid off USA's debt to china"
yes that may get him a presidential pardon. Hey Prez, want me to pay of your xT debt give me a pardon and I'll do it |
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he PM'd me just before starting this thread
Does it mean on June 2013? June 09, 2013, 05:07:00 PM he PM'd me Could you pm him back so that he can send me the bounty he promised? what was all this....the bounty etc. What I did is I p/m him about what was going on, a bit before and he P'M me back and made the thread some time later.... I gotta say though I'm a bit confused why people arent using IOcoin as it seems like IXC without the initial well shall we say dubious going on's plus IO coin sounds go, everything is startup.io now Please don't trash iXcoin because the original dev wanted 500K coins. He said he already spent half on it maintaining servers and paying bounties. So from that initial coins, he may have around 250K left.... well he still owes some bounties. But who knows if he even has 250k coins left, he may have thought the coin dead 6 months ago and sold of his last holdings. If that is the case, it would confirm why he is dead silent. Meaning he has no more skin in the game. Anyway, I'm still waiting for his promised bounty to be paid. Regards, I0coin, its a different coins with a different block rate. Also, I0coin has had its own problems of starts and restarts. Finally, the network hash rate of I0coin is nowhere near IXcoin. The name is also weird, what the hell does i0coin stand for anyway? Probably needs a name change. Yes, I0coin may have promise, but at this time it'll take some dev. work to build it up. not trashing and IO is input output 1 0 on off that classic tech statement for digital computing eg look at alot of computer switches (on the back of the old mac se30) had 10 on it. |
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Are their any rumors yet about a faster transaction for bitcoin if possible?
Some of the altcoins got a faster transactions than bitcoin already. I saw that litecoin updated the wallet and have faster transactions now cause of the update. That will also help alot for long term.
faster means less secure... look to maybe emunie for actual faster transactions |
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the problem with cashing out, is you have to cash in to....cash....which can easily be manipulated or another class of asset, that does not hodl the promise of btc.
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My Crypto Predictions for 2014
BTC >= $10000
LTC > = $250
PPC > = $500 ~ $1000
I think this may be very conservative, seeing as BTC has done ~ 100X or so last year, and I think this gets more powerful and faster to uptake the larger the market cap. Becuase
[1] more money to be made by business
[2] and most people have no idea about cryptos so lots of room for growth, I mean even about 90% of so called experts in forbes etc have no idea about Crypto's
[3] The majors have not even had their feet wet
[4] Still so much room for a good exchange
[5] So much innovation and products in the whole CC sphere.
One interesting side effect is that you get to see how much the *leading* financial institutions and their writers/experts understand about financial/economic issues.
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SHA-256 based proof of work is a means, not an ends. We use it to achieve a desired result - that being a decentralized network. For the time being it is working. Since production of silicon chips is very centralized, and it is well within the reach of many governments to amass a majority of hashing power.
This. Absolutely this. If the US, or China, wants to take over Bitcoin, freeze its value relative to dollars (or Yuan), and issue as many bitcoins as they want just the same way they issue their usual currency? A call to butterfly labs or somebody who can reverse engineer one of their chips, a gag order to prevent them from talking about it (if they even know about it), another call to Intel or somebody with a huge chip foundry, cut one big check, and done. Anybody whose client rejects blocks where more bitcoins are created than their client thinks is kosher then finds themselves on the losing side of a chain fork. And the updated client is available from your friendly neighborhood government offices. POS takes over, btc/cc's continue, hence nxt's spectacular rise. Taking BTC out of the equation means little now, all it does make way for the others contenders, of class crypto's, and drives innovation even faster. This is why people diversify in alts by class It would not be in the central govs interest to take out btc as they are just sowing the seeds for an exponentially harder version to arise. Still Govs make bad decsions so they might still have a crack at it. prometheous has let the idea out, and writ large that a currency can have international value without a central state issuer or gold backing it, rather that it just a better currency to do what currencies should do, enhance efficiency of trade & reflect wealth. Few pre 2010 or even 2013 for that matter would have believed this was even remotely possible |
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!  *new year every one*! |
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he PM'd me just before starting this thread
Does it mean on June 2013? June 09, 2013, 05:07:00 PM he PM'd me Could you pm him back so that he can send me the bounty he promised? what was all this....the bounty etc. What I did is I p/m him about what was going on, a bit before and he P'M me back and made the thread some time later.... I gotta say though I'm a bit confused why people arent using IOcoin as it seems like IXC without the initial well shall we say dubious going on's plus IO coin sounds go, everything is startup.io now |
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he PM'd me just before starting this thread
Does it mean on June 2013? June 09, 2013, 05:07:00 PM he PM'd me |
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what are the risks with minting?
I note the issue above
can some one post some images about what you would see when minting I heard it looks like you stake get sent somewhere, and then is sent back!
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he PM'd me just before starting this thread
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That's the whole POINT of bitcoin. Once the network gets big enough, they won't have the *ability* to decide to "allow" it or not. They don't "allow" pirating or The Pirate Bay, and of course nobody pirates any more and the Pirate Bay website has been shut down for good.
This is a fundamental fallacy shared by many bitcoiners. Governments can easily 'not allow' bitcoin (for all intents and purposes) by simply passing a new law saying any ISP relaying bitcoin related traffic will be shut down. That move alone vastly reduces the number of miners and nodes probably to the point where a 51% attack becomes easy, and the currency crumbles. Don't get me wrong, I'm extremely positive about bitcoin but you have to understand how vunerable it is. Cheers, Paul. there would be so many ways around this, look at emunie for instance, also not everyone rely's on mining systems |
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for this reason its better to use laptops and os's that are older, eg, before 2009, no one really new to make something to catch BTC or mod hardware, I mean they did not even know what BTC was.
I do wonder what some bored or enterprising coder in Microsoft or OSX may decide to slip in there....to silently take some coins
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this had a myriad of competing interests
[1] at its core each miner will act to be most profitable, which mean they will would rather get the block out there faster to avoid orphans
[2] If all miners do this, then they coins they hold and the network becomes less workable and so they risk thier business model.
[3] The block reward will half making fees look more attractive over time.
these issues may be why POS offers things over POW. POS may be able enforce sytems of mining more uniformly and easily that POW, also you can long term plan eg with Peercoin, the massive evaluation of NXT and then emunie
With PeerCoin You know fees will be 1% and that you can mint 1% back per annum which lets you make long term store of value decisions
BTC seems to be falling short of a long term store of value and every day transactions, it's sort of in the middle, good for both.
Interesting times.
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