Well i haven't use their service before but with the news of lost btc making headlines i would be real cautious. Just prepare for the best and always ask yourself is it worth to continue to take the risk?
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Ideally in the system where they can manipulate and control it, they will do whatever they can to protect and ensure it remains in place. Cryptocurrencies will always be seen as a threat to their survival
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Unlike the price of real estate which you can almost predict based on location, future development within the locality, infrastructure, public amenities which can suddenly change and boost the price, in bitcoin it's much different. The real driver probably at this time is having people realize and reassure them that bitcoin investment is worth it and thus more and more people wants it and drive the price up. Also likely in line with economic collapse. So it difficult to come to a good prediction.
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We'll be considered lucky if it ends up anything above 300 by this year end. And it also means staying there until the halving expected by mid of 2016. We'll see.
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If you are on normal trading, selling at 235 and buying back at 215 after taking out the fees and minus the premium paid for to execute the trades, probably you will end up a net of 15 per btc. Unless you are on a margin trading overall that is not worth the risk to take
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I still hold on to my belief that if someday bitcoin fails for that matter, it will bring down the trust people are having towards cryptocurrencies. That includes all the other altcoins.
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I think the number is a bit exaggerated although i do have the confidence that bitcoin price should be much higher if the economic situation starts to worsen.
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If there was no mt gox I'm sure we would have moved closer towards mainstream adoption compared to its current state right now. As far as i can see, the loss of trust and reputation from the scandal actually affected the community badly
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Most likely it will. People will start to see things different based on the explanation given on how they lost their coins. bitcoiners nowadays are also very concerned about security more than anything else.
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I think the missing piece here is regulation. If some form of control was being put in place, people will start to see it as a currency being endorsed and accepted. And taxing it is one of them although i don't agree to it.
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Like it or not these are how way things go. You borrow more money but you will end up paying higher for the item due to the interest rate. In a way you enslave yourself to work and pay off the loans. That's how the system works
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Most people would use the standard mobile wallet but there are also a number of good alternatives like Universal bitcoin wallet by coinomi that gives you the ability to keep different altcoins.
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In a way it works the same like what the exchangers are doing daily. Deposting bitcoin into an account created and given by the exchanger, you deposit the amount and whatever happens next took place within their own accounting ledger.
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Therefore i believe 21 million cap is the core to everything that ensures bitcoin existence. People buy into bitcoin because they know there is that much bitcoin amount that will ever be in circulation. It is based in this concept that people see something within it.
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Well i do pick up something about the blockchain concept. Learning a few things and there about how things on centralization works and why complete control can be bad. Overall it was fun.
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It does look that way if you compare based on several indicators. But it could also end up a total failure. Internet does not face so much issue on trust and reputation in the past the way I see it.
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Quantum technology? Well if it catches up before the number of transactions start to choke up the system, then probably yes. But then, when is this technology going to be available.
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At least it proves one thing that it needs to consensus of the majority to implement a change. But thinking of it, could it be true because if a miner by a single person who controls most of the hash power, then that is only one vote compared to the majority of people who holds less.
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Commodity to my understanding means buying and using it on something else for another chain of process or production. In the case of bitcoin I don't think that fits in.
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Conducting off the blockchain transaction will sure put more pressure on centralization But I'm just wondering if that will involve another ledger to be created since i wonder how are they going to record and capture all these transactions before broadcast it to the blockchain.
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