Hi,

It is completely impossible to make 100% reliable forecasts about the ups and downs of bitcoin. If you want to buy bitcoin in order to be able to trade or play it, then do not worry too much about the price.
Maybe your buying will not be profitable over the very short term, but sure it will be profitable on the long run!

It is quite original to search how to kill bitcoin on such forum!

The most simple way to kill bitcoin that comes to my mind is, of course, a complete stop of Internet and all related technologies. A worldwide shutdown. No electricty, no bitcoin.

That is quite easy and quite useless as an answer at the same time  

Actually, the most effective way I can think about in order to kill bitcoin, would be a worldwide legal arrangement settling mining and transfer illegal. Bitcoin would still exist, but no new would be created and people owning it would be completely unable to use it.

However, governments are completely unable to find a sustainable agreement that all countries agree to and stick to. So regarding such a fast-changing technology, I think we have nothing to fear!

Plus, they do not especially care I guess.

Exactly. The chances of something like that are close to 0.
Of course the house can be beaten if people are lucky, that's why casino have success in the first place. But that's also why there are maximum betting amounts and that those amounts are calculated in order for the house to be protected. You can win once, twice and even 40 times in a row if you have some crazy luck, but normally the house prevents you from betting to much at once so that you HAVE to make lots of bets so that you are mathematically obliges to losing in the end.

If that's not what you call a manipulation here I don't know what it is.

BIIIIIIIIIIIP
False argument if I may.

Fact is that what you're saying is basically "look you should concentrate your advertisement towards those nationalities because they gamble more and lose more" but it's not true. What your little statistics don't take into account is the regulation differences between countries. For example in France casinos and every gambling sites are under very strict rules that makes it not so easy to gamble, but that also prevent casinos from putting horrible odds. It's simply illegal (and severely punished) to have games with 10% house edge for example.

So your stats should also take things like that into consideration

I think this is rather a good thing..

Of course, it means that it is harder to get "1" bitcoin, but this also means that more and more people are aware of the value and role that the bitcoin can have.

If the community didn't grow, this would have meant that the bitcoin was doomed to remain a geeky money, wthout any real use.

More people, more ideas, more options! 

In fact, most governments are lagging behind regarding "web" regulations, because the technology is evolving at a much faster pace than what is allowed by the process of law votng.

So, on the one side, we have bitcoin users, who do not necessarily wish to get regulation, and on the other side, traditional institutions that tend to be late on such matters.

Conclusion: general legislations and some basic regulations may happen soon. Yet, nothing truly about the core of bitcoin activities!

Hi,

Actually, your behaviour regardng buyinig and selling highly depends on what you mean to do with bitcoin. If the goal is short-term profit, then panic selling is completely understandable.

Otherwise, it is not so appropriate, indeed.

As for complaints about big buyers and who's got the power.. Well, I think it is no use to complain at all...

The table is quite impressive..

Though, unless I am mistaken, these are just possible scenarii, but without any "real" test, right? I do not suggest we should kill a developper to see the overcome of his/her death but still, for some scenarii, without any concrete application, I think we cannot measure in a realistic manner the impact such attacks may have...

What do you mean by world crisis?

I mean if it is about a global nuclear war, I think we should not worry about bitcoin. I mean, it will clearly not be a priority!

If you mean dealing with current problems (poverty, hunger, access to clean water, etc), I guess bitcoin could help... The only (big) issue is that in the concerned countries, it can be difficult to have 2 hours of electricity per day. So a computer? No way...

Eventually, I think that crypto currencies can be used as alternative way of financing projects (whatever the projects, not necessarily for the greater good). Actually, this is also why most people are investing in bitcoin: in case it turns out to be very profitable in the future... Will it be? We can hope so! 

In fact,

We can simply say that a price inflation is the opposite of money supply inflation if we consider traditional money.

Indeed, prices tend to rise when demand is above offer. If the money rises, then it means that each demander shall receive more. Thus, the price will decrease. On the contrary, if the price rises, then (traditionnallly) this means that the money supply has decreased.

Of course, in the real world, things are not so simple but it can be explained this way. Price inflation is the converse of money supply inflation

Hi,

Of course, an entirely virtual economy raise the issue of the physical access to the technologies. So indeed, for poor people (even those leaving in rich countries), this would be a problem.

Though, an entirely virtual money world would not be so jeopardizing I think. Indeed, through systems like the blockchain, it would finally be the end of market manipulations instituted by large corporations for their own benefit.

At inception, money adopted by the government relied on gold. This makes the first exchange rates in history: the more gold you own, the more powerful your money. At that time, money was meant something. Today, even though we can touch our dollar/euro/etc coins, they do not represent any tangible reality.

The amount you have on your bank account is more or less the same as a grade on a sheet of paper. Each month, your wage represents the grade that is given to you by society. And according to your grade, you can either live in a cosy flat in the city center or under a bridge.

That is why I do not worry about your scenario. It will not change the everyday life of most people but may oblige large companies to behave!

Hi!

I guess it depends on the country... In France, for example they have acknowledged the bitcoin as an "alternative for payment". Still, the law ignores the existence of crypto-currencies as know how to deal with them.

I think this is actually the issue in many countries. Bitcoin exists, t is a fact. But for most governments changes n law require time and cannot adapt to this fast-pace changing kind of money. For the moment, it is still hard to determine if posts on Facebook can be used during trials... So we are veryyyy far from regulating bitcoin use! 

Your question is already obsolete...

Because indeed, there are laready countries in which bitcoin is legal. Maybe what you thought about was not just legal entitlement to exist but rather a widely spread use and recognition in official institutions.

Regarding this, I do not think this is going to happen suddenly. Changes is habbits will be smooth and discrete. But one day it will be actually widely spread and it will be difficult for any one to point out a specific starting point! 

You are not explaining what kind of investment you want to make, so it is quite hard to answer your question.

Bitcoin is a good investment if you want to "bet" on your money.

Bitcoin is safe as the way it is created makes it impossible to fake. This will remain unless the bitcoin stops being bitcoin (I mean if the blockchain system disappears, which would have no sense at all).

Hey!

If you are looking for somewhere to spend your bitcoins, there are two main opportunities for you. You can either start trading but that is way too complicated I think, or you can spend it on something that doesn't exist anywhere but in the bitcoin world which will be the specialized gambling sites, especially dice.

In the end, the house edge is only 1%, so you might even be luckier on dice than on trading 

In addition, some sites like YoloDice also give you rakeback for your loyalty so it's not even 1%, you can go down to something like 0.5... which means it is only pure luck!

Most institutional banks make it easy for you to understand because they want you to become part of their customer database. Not because you are important for them but because your money, even though the amount is little, will be added to their global "trade and play" database.

So yes, of course, with bitcoin it is more complicated. You do not have btc ATM delivering you money you can use to buy things in your everyday life (unless you are very lucky). You do not have a clear and comprehensive guide of "how to deal with bitcoin".

Still, through the blockchain, you get security. More than any bank can offer I assume. And regarding transactin fees, actually your bank may hide them from your view but they still exist. Your bank is not a charity, they make money out of you. With your saved money but also with your current account. You pay fees, you pay because you use a dedicated website, you pay a credit card... All these are fake fees. I mean it cost nothing to the bank but they charge you anyway.

So yeah, harder with bitcoin. More expensive? I don't think so!

Isn't it just what bitcoin and other crypto currencies are all about?

The game is that you buy, you sell and try to make the most of it, for your own profit.

So yes, of course, forks are great moments to place bets. Nothing revolutionary 

"Losing faith" is a bit over-reacting, isn't it?

I mean, we all know that bitcoin is subjected to much fluctuations... We all know that even though it is "sure", it is also quite impossible to make any forecasts.

People are playing with bitcoin for the moment. And I do not say it is bad.

Yet,  understand this feeling of "bitcoin will change the world!!" and... actually nope. Though, I think it is still a source of positive transformations within society, especially regarding huge financial institutions. Just leave it some time. And let people take their time too. Getting acquainted with bitcoin is way easier if you see it as a leasure, a source of fun. I think this is the best way to learn.

Leave it some time, things may change. But slowly, as for any lasting change!

I like your analogy. I have never been in such situation but I still like it. I wll try to remember it. Maybe it lacks the idea that nothing occur in the "real", tangible world. As a 7 year old, I would have been naive enough to believe in the idea of a huge, growing room loaded with small cute pink piggy banks.

Actually, this analogy can be good even for grown-ups. I mean, there are still many people for whom the idea of bitcoin is.. Well, merely a strange word.

Thank you for sharing it!

You can consider that you have the answer to your worries as in fact, the fork didn't happen.

Still, you can claim that further fork may happen in the future.

But actually, this is the way btc is. Constantly changing, evolving, offering new "forms" of itself...

I think that we are still far from using all the technical appliances possible to mine btc. Just leave it some time to get started and further forks shall not worry you!