20x in 5 months? We probably need a new "Willy" bot on the exchanges to archive that goal lol.  I don't think the bitcoin world is ready for another Mt Gox so soon. |
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There are only 21 million Bitcoins to be ever created, there are 5,727,771,964 people living right now in first world countries. So say Bitcoin gets accepted in ebay. Now practically all of these 5,727,771,964 people are aware that Bitcoin exists because everyone and their mother uses ebay or has used it at least once, and they will see the "pay with Bitcoin" button, then go learn what is that. Satistically, a big part of these people will start using it. Having just 1 BTC puts you in the 1% of BTC holders. I think in the future BTC will be the equivalent of talking in terms of a million in current purchasing power of fiat currencies, everyone will talk in terms of mbits or satoshi.
If this happens tho, I hope we aren't old as fuck to enjoy our new found wealth.
If BTC keeps going up, when will we ever feel like spending/enjoying our wealth?  |
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I believe you mean cash, not simply fiat. But anyway, cash can be traced by the serial numbers on the notes. Although I don't know how much that's actually done.
In any case, it's not just about what you can and can't do, but how easy it is to do it. If I want to send $10k to someone on the other side of the world to fund a terrorist operation, it's a heck of a lot easier to buy a few bitcoins and send those than it is to physically transport that much cash. And just because we can trace bitcoins, that doesn't mean that it's easy to do, or that someone really watches for "suspicious" transactions. If a $30k wire transfer is initiated, someone will probably pay attention to it. If someone sends 50 bitcoins, no one will pay attention or care.
You don't even have to send 50 coins. All you have to do is share a private key. |
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You are indeed right about that part, but I don't think that Satoshi conceiving his brainchild would be quite happy if Bitcoin had to be honored with what is called Herostratic fame.
Yes, it was infamous earlier; but all that has been set right now. |
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lets hope it hit 2000$
if history is any indication it should go well above the last high of $1200. I'm hoping for 10k by end of year. 10K by the end of the year? 20x in 5 months? You are expecting the 2013 to repeat itself. |
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When is the expected release date for this feature?
This is just speculation / wishful thinking.  |
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They own insane amounts of US Treasury Bills. The gold is an insurance policy against a US default.
Given the amount of T-bills that they hold, no amount of gold would be insurance. |
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Which country is this?
Also why cannot their govt de-notify smaller denomination and print higher denomination currency notes to avoid this situation?
They do. But the higher denomination currency notes become worthless very soon. That is hyperinflation. |
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Hi, I've been asking for opinions about a proposal that's come up here in Scotland. We're going to the polls in the next month to decide whether we want to split from England and become an independent country - basically the end of the United Kingdom that's lasted 400 years. There's been plenty of discussion not only on whether we should, but whether we could (practically.) One of the major stumbling blocks is the use of GBP - the Bank of England has said a post-independent Scotland can't use it. Bit mean, but there you are. So the question came up - If Scotland needs a new currency, why not set up a State-Run Cryptocurrency?Here's my thoughts on the issue. http://cryptocurrencymadesimple.com/should-scotland-set-up-a-state-run-cryptocurrency/Also, it appears that Ecuador got there first: http://cryptocurrencymadesimple.com/ecuador-nationalise-cryptocurrency/Would love to here what you guys think. The Ecuador cryptocurrency will exist in parallel to the existing currency. It would be interesting to see if any country will ever get to having only a cryptocurrency. |
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Forget about it. Come back after 3 years. |
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Read all the sticky threads in this forum, especially under the Beginners section.
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If I have less than 1, I would be disappointed. I would like to have ~2. |
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Life without internet in 2010's is like life without electricity in 1990's. Not imaginable. |
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There will be high possibility to climb back to the peak of 2013 if China and other countries cancel their restriction to BTC. I think it isn't long before they will realize the benefit the new technology will bring to us.
Came here to say more or less this...China can potentially play an incredibly strong role in sending bitcoin moonward in 2014, as was already shown in 2013. For what it's worth, they have the #2 highest GDP in the world. Clearly, many Chinese enjoyed Bitcoin for a short while. However, the ripple effects of so many Chinese people in the Bitcoin market have not ever been realized. The price could easily soar if restrictions are eased in China, otherwise I think we will see a generally steady price with gradual increases. I agree that China could play a huge role in another rally if restrictions are eased. But do you really think that's going to happen? Maybe eventually, but considering how much the Chinese government likes to control things, I doubt it would anytime in the near future. If anything, I see regulation getting worse. Any under-penetrated and large market, like China or India, could spark off the next bitcoin rally. |
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If the OP kept his 1 Bitcoin he would had lost money so far. While there have been many crypto currencies where he would had made thousands so far.
Not like it's hard to guess a winner. Most of the 300+ alternates are $hitclones intended to be scams. There's only a few genuine winners out there.
I guess the OP is talking about medium to long term. So whether he loses his money or not, we should judge after ~3 years. |
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Unlikely, BTC is use agnostic. Utility is utility, legality does not matter unltimately
No but the earlier posts were right about the fact that during 2012 and 2011 if/when btc hit the popular media it was alway "this thingy is used by criminals to make crime easier". Nowadays the perceptions in the media have changed in that we usually don't hear this tagline about criminals. I personally think that these sorts of perceptions do affect adoption which does in turn affect valuation. There is no such thing as bad publicity. The earlier media reports did help expand the awareness of bitcoin. |
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I will only say I wish.  According to analysts, it has a 80% chance of going to zero. I dont have much to say... just an image for your reference As I was saying, I wish it would go to a million dollars. I would be one of the happiest people if that happens (and I happen to hold my bitcoins until then. ) |
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No, it was more of a workshop instead of a regular meetup.
Hence you can't equate pricing to regular conference.
Still we received a lot of guys supporting us at even these ticket levels, however we have received a lot of inputs and we will be keeping more reasonable prices in the upcoming events.
Regards,
Amit
I guess these conferences would be more for people who are looking at bitcoins as a business. I would rather buy 0.5 BTC rather than attend a conference for INR 20K. Personal preference. +1 to this! I will be in the same boat as you As long as the guys who paid 20K feel okay about it, there is no issue. For every service and at every price point, there seems to be a market.  |
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Seems to be going on a downward trend right now.... $585
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Yes it was a large part of my holding but I was mining and the wife wanted me to break even on the little monsters that invaded her office and made it unbearably hot Aah... For miners, somehow I feel it is different. |
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