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For the philippines that is some very good news.
I know a few guys there from the internet, they always had money problems.
And it were not big amounts they needed.
I think that even a signature campaign could bring the people there something they can build an existence on.
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Segwit activation in four blocks - why isn't anyone talking about this?
hahaha because theres no drama or controversy or no new coin. Wait until November, we are going to have another battle. Segwit activation was a huge anticlimax. Welcome to the crypto world. When I look at the support data on coin.dance, the support for segwit2x of newly mined blocks is way over 90%. I really hope it will be not much of a drama. At some point the developers will have to accept where the majorities are. And even if they do not, I guess the old chain will be the one to become a new name this time. I suppose the average user will not take much notice of that fork either. |
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Just because Segwit has been activated, it won't automatically translate into transaction fees to go down a lot directly. At this point people are still transacting with non Segwit transactions like they have always been doing, and that means they are still subject to the pre-activation fees and everything. Other than that, I am glad that we have finally seen Segwit activate. I kept waiting for the the last block to come through and see Segwit activation become reality. This is what I consider to be a real milestone. At this point the only thing to focus on is what will be happening with the planned hard fork in November. If I understand it correct, the transactions stuck in the mempool are non segwit transactions and they will stay that way. That means they have to be processed the old fashioned way and that will take time. After that the road is free for faster transactions and lower fees, but only if they are sent with segwit? Or is every transaction from this point on now in general with segwit? |
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A cryptocurrency will not overtake the fiat of a country.
First of all, basically all cryptocurrencies have turned out to be investments, not currencies.
A currency is something that has about the same value every day. Crypto currencies are much to volatile for that.
The second thing is that a national currency needs to be influenceable by the government.
Crypto currencies are just influenced by the market.
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Bitcoin is becoming a global asset!
For being a currency the price increase is simply too high.
Everybody who buys bitcoin at this point is doing so with the intention of making profit with it.
I can't blame the people for doing so, when you have the chance to make a living you need to take it.
But the times when bitcoin was a currency are over.
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I think that many benefits like anonymity or decentralization are not very important anymore.
At the moment the most important thing about bitcoin is that you can earn money with it.
Use it as investment, get paid for signature campaigns, do traiding with it. It's all about making money.
And with the other cryptocurrencies it's the same as well.
A little sad to see, but I guess this developement was inevitable.
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I do not think that a government will create a new cryptocurrency and establish it as its fiat.
What I can imagine is that the current fiat is going to be cashless.
Maybe even with a blockchain technology. But without miners.
I think it's a nice idea if you have a cryptocurrency that is not influenced by miners and their goal to earn as much profit as possible.
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I think you should choose an investment in bitcoin because you never know.
What if all those predictions about bitcoin will really take place and it reaches 100K in a few years.
I don't say put most of your money in it.
Just a little bit. Just enough that the invested amount will not harm you.
But then you will be on the train when it starts.
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It depends on what you define by crash.
In the world of stocks a price decrease of 10% is already a major crash.
In the cryptocurrency world it's just something like a rather bad day. Maybe even recompensated tomorrow.
Corrections can come every time.
A real crash (I'm talking about 70% loss) I doubt that. It would need a trigger for that to happen and don't see something like that.
Not even a possible fork of bitcoin.
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Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).
So which year do you think of bitcoin total dominance and why?
Maybe in the next 10-20 years we will use bitcoin completely for online transaction and maybe for real life transaction too and using internet too of course. The most important think is our technology always upgraded every year and so many innovative thing about digital thing born too. I'm sure someday people will notice more about bitcoin. I agree, 10-20 years is enough time to make Bitcoin powerful being accepted everywhere on the online world and maybe 50% of real world, or more... But until there we have many years yet, technology changes very fast, we need to be aware that another Crypto-Currency can appear and make Bitcoin worthless, it's possible to happen and we must be prepared for this by reading main Crypto-Currency news for the next years. Unfortunatelly I don't think that bitcoin being accepted will increase much more than we have it today. I suppose people won't want to pay with it because the price increases. When a shop offers that you can pay with bitcoins, I really fear it will not be used and the offer will disappear again. Even if another crypto currency would take bitcoins place, I think it would have the same problems. |
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I think that in the future we will see bitcoin to be part of funds.
That means there will be a major injection with money from businesses who are not involved with cryptocurrencies yet.
From a technical point of view I think we will only see one chain with a blocksize of 2MB.
That will be completely enough, because bitcoin used as payment will become less important, so the number of transactions will decrease.
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BTC's difficulty is adjusted every two weeks so that a block can be solved in 10 minutes. Approximately, the Bitcoin reward is cut in half every 4 years. Consequently, the supply of 21M will be maxed and fixed in Year 2140. Does BCH follow the same rules? I read that "Blocks are being processed rapidly now on the BCH chain as each block is being found every 3-7 minutes. " from https://news.bitcoin.com/bitcoin-cash-mining-difficulty-drops-significantly-speeding-up-the-chain. If that is the case and the 3-7 minutes block mining time sticked, won't the BCH supply increase faster than BTC's and reaches the maximum supply sooner? A reduction in the mining difficulty also means that the transactions in the block can be processed quicker and the transaction fee be lower. How would that affect the price? The difficulty right after the fork was high on BCH, so not much new blocks were found. Due to a lower hashrate it decreased to a low level after two weeks. At the moment it seems to be more profitable to mine BCH than BTC. So more people are mining BCH and the hashingpower increases, but the difficulty will only follow in two weeks. That is why we have plenty new blocks at BCH at the moment. At least if I understood correctly how it works. The difficluty will adjust to the new hashing power again, but it takes two weeks. |
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Less than 1% of world's population is into Bitcoin. 99% either don't have any idea of Bitcoin existence or are skeptical about Bitcoin and cryptocurrencies. These 99% are huge potential market for Bitcoin and cryptocurrencies.
With various countries recognising Bitcoin, merchants accepting Bitcoin and mainstream media covering it, demand is increasing. But supply is limited which will keep on reducing after every four year. Where demand is increasing in millions and soon to be in Billion, supply is just in hundred thousand. Price is set to increase in future too.
This uptrend in Bitcoin's price will sure continue.
Yes I agree with you. As you say that very small percentage of population know or have idea about bitcoin there is also very small percentage of coins available in the market so the demand is increasing and with this trend the value of bitcoin will go up. Completely true, many people will enter the crypto world and bring some money with them. But the people are not those who have the real money. Just think about the companies! Every major company has its money invested somewhere. I guess they will discover the crypto sector as a now form of possible investments soon. And to me that means there is a big support wave coming. |
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I think it's a little strange when you look at the blocks of bitcoin cash at the moment.
You have one new block about every minute at the moment. That is ten times what it is supposed to be I think.
And that means as well that many new coins are getting into the market.
I would expect those coins to create a mass of transactions, but they do not.
At the moment one block is filled with about 20kb.
To me it looks like the only group who profits right now are the miners.
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Of course it would depend on the reason of the declined price how I react on it.
A catastrophic problem with the bitcoin code itself, that would be a reason to sell at any price.
But market movements because some whale decided to dump his coins, then I would certainly not sell at a cheap bitcoin price.
It would be more probable that I would increase my bitcoin holdings.
But not on pump. Never use borrowed money to make an investment.
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When you look at bitcoin, China is already the super power.
Most mining farms are based there and a lot of exchanges as well.
The economy in China is already amongst the top five when you look at the national output. And it has the strongest growth rates.
In a few dacade its military capabilities will at leat be equal to those of the US.
China will play its role as a super power in the future, there is no way that will not happen.
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I am still wondering what advantage it brings to people to use an atm.
I mean, if I want to buy or sell my coins, I can do that online from at home.
Or online from everywhere with my smartphone.
And these transactions have much lower fees than what you pay at an atm.
So what brings people to use such a machine?
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I don't think that it will be necessary to connect a wallet for your bitcoin with a phone number.
From a technical point of view I think that is even impossible.
What I can imagine, and what is already in place at many exchanges, is that you have to ID yourself when you want to exchange bitcoin into fiat.
And that includes a phone number.
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I am not sure if the price of bitcoin is really connected to blocksize or hashrate anymore.
The profit of miners surely is.
But what controls the bitcoin price is the demand.
And the demand comes from investor at the moment.
One reason for the big rise of bitcoin price is that the miners can not produce new bitcoins as fast as the market is asking for it.
With bigger blocksize or higher hashrates you only make the transaction times smaller or the fees lower. But that is not what an investor really cares about.
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Let's see we're over $4k now. Lets just say it doesn't go up much the whole rest of this year and we only hit $5000 this year.
A conservative bet for bitcoin is to double each year until it gets close to mass market, mass market will likely be 6 figures. That means $10k 2018, $20k 2019, $40k 2020, $80k 2021, >$100k 2022. So yeah it is definitely possible to see $100k in 2021.
Well, to be more accurate, Bitcoin doubles in price every 8 months! And yes 5k is still possible this years, what would mean a 500% increase since the beginning of this year. So the word "only" doesn't really fit here.We're doing pretty good this year so far. But I get your point and understand what you mean. Furthermore I agree that mass adoption could very likely mean 6 figures for Bitcoin, with today's purchasing, so no hyperinflation or anything like that. The thing is I don't know how quick we can achieve that.Everything is still way techy imo and right now we seem to hit some critical mass of speculation, which is still very far away from a mass market. Imo we are still very early and could take at least another 5 years before seing some significant increase in terms of users, meaning 100 million or so. But when this happens, things will go extremely quick. And this is the reason why now is the time get as much Bitcoin, or bits as you can. 100k I could imagine 2022-2024, don't think it'll much earlier. But Bitcoin has to stay as the dominant coin, otherwise this all won't happen, and we won't be even close to it. I think as well that bitcoin needs to be the dominant coin for that to happen. If another coin would gain a larger acceptnce than I suppose it would be that coin whos value would increase at about the same factor that bitcoin needs to reach the 100K. And even if that would happen, it does not mean bitcoin would become worthless. Maybe bitcoin would only reach 20K then. That would still be a huge increase. In any case I see a large developement in the whole cryptocurrency market coming. |
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