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Bitcoin has far too many weaknesses as a currency for it to be replacing the USD or other fiat currencies. By 2022, this certainly will not happen. It's questionable whether it even has the potential to ever happen.
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I do not think that the Bitcoin is ever going to replace the Dollar, Bitcoin does not even have enough physical money in order to do so, it would be a whole process.
Many people do not like to go to big changes so it would not really work.
Bitcoin doesn't have any physical money, it's all digital. But not having enough is hardly an excuse for it not replacing the dollar. Bitcoin is divided into 8 decimal places, and at a cap of 21 million coins and 100,000,000 sats per coin, there are plenty of units of bitcoin available. The reason it won't replace the dollar is because it's inferior to the dollar in too many aspects to become a threat to the dollar. |
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Frankly speaking, I am not waiting for the bitcoin to become 100 dollar value. I want it to reach new heights every single day. If it goes down to 100 dollar level, I will in huge loss and I don't want that to happen.
Also if the price goes down to 100 level, a panic selling will trigger which will further bring down the price, so it is not good for the bitcoin community. The main factor behind my dedication towards bitcoin is the price and nothing else.
The bitcoin price will not go to $100. If it does, most of the miners will not be profitable and the network will be attacked. Price has nothing to do with whether or not the network gets attacked. And if the price goes to $100, the least efficient miners will be forced out of the market, and the network will reach a new equilibrium. Due to the amount of miners who leave, the difficulty will drop and everything will reach equilibrium once again. |
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I wouldn't invest in a casino bankroll. The most reputable one (JD) deals with a garbage coin, and everyone else is too high of a risk to steal the money. The meager return you get for investing there isn't worth the risk of loss.
Not really good to invest if you do not know how to diversify your investment, actually it is just easy to analyze dude and by this simple reality I am pretty sure you will understand why investing in an online casino is profitable, casinos wins all the time. There have been too many casinos that have stolen the coins to trust them. When you're looking for an investment, you're looking for safety. Diversifying in an asset class with a high risk of loss doesn't alleviate the risk. |
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If you do make sure you pay taxes on those Bitcoin, else you will lose more than you have. Don't want to get audited.
Does bitcoin have tax? I don't think bitcoins do have tax but only miners fee so if you are going to buy your own house with bitcoin. That is just going to cover up when you convert it to fiat money. And that is the time that you are going to pay government tax for buying your house. But I don't care about taxes as long as I am able to buy my own house with bitcoin, that is success! Maybe we can consider that as tax, but it is a minimal amount compared to the amount we are paying in real life taxes. Having said that, we are still enjoying transacting online because it is very fast and anonymous, we cannot have that in real life because all transactions are subject to tax. Regardless of how you buy your house, you're going to have to pay taxes on it when you sell. If you're buying a house with bitcoin, you're still going to use the USD equivalent for tax purposes. All real estate transactions are registered with a county or local government office, you cannot buy a house anonymously. |
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99.21875% will be mined in 20 years time. If electricity isn't very cheap by then and/or if bitcoin isn't worth hundreds of thousands of dollars, it's hard to imagine anybody wanting to mine then. How will transactions then be verified?
I think there is always a solution. Does bitcoin community has developers with ability to change code and submit new feautres? If yes, that's a number one resolution. Otherwise i heard switching to POS(Proof-of-Stake) system will give node runners a reward for approving transactions. The solution has been there right from the start, and there is no need to change anything in the code just because the cap of 21M coins will be hit one day. Mining will not stop due to no more coins to be mined. Miners will profit from transaction fees, and they are already profiting from them right now (up to a few percentages of mining reward)... In short, this problem is essentially nonexistent I still see a potential problem in that in order for miners to be kept interested, mining fees will have to rise significantly to offset the loss of new coin generation rewards they currently earn, and at the point where fees are significant enough to keep the network properly decentralized, will using bitcoin in any capacity be cost-competitive? Micro-transactions are something that bitcoin has a huge advantage over the traditional banking system, but it seems to me micro-transactions will become impossible in the future with the rise in mining fees that will accompany the loss of new coin generation rewards. |
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Bitcoin is not a good investment. It might be a fine gamble, but it's purely speculative. An investment would be better served in a business that generates a profit. That's what causes stock prices to go up, businesses becoming more profitable as they grow. Bitcoin becomes more valuable if more people think it's more valuable than before. It's very arbitrary, and arbitrary is not what you should be looking for in your investments.
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Hey Wetsuit, question about the free roll bonus: does the % boost only apply to the lowest tier reward? I just hit the second tier reward while the 100% bonus was active, but still only received the normal payout for that tier (3288 sats; 100% bonus would have been double that). This is the first I've noticed the bonus only applies to the bottom tier, as I've never hit a higher tier while it was active before.
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I don't know what happened in freebitco.in but the lowest reward has been halved for me.
Anyone here faced the same issue?
This happened to me about 2 months ago or so. PM wetsuit and give him your UID so he can look into it. He had to do a manual fix for me to rectify the situation but I've had no problems since. |
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For people who don't understand what this thread was originally about, the thesis was that there was going to be a large market downturn this year, and an analyst was advising clients to move all their investments to cash to be able to take advantage of significantly lower prices. It didn't have anything to do with bitcoin or crypto.
so in that case maybe you should think about closing this topic down since you are the starter of this topic. scroll down to the bottom of the page and there is a button called "lock topic" click that  Every once in awhile, it meanders back on point or else there is an ancillary point made that's off-topic but interesting. That's the only reason I haven't. From time to time I pop back in to see if I can steer in back in the right direction. |
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my strategy investment with bitcoin
iam trading bitcoin pair fiat money and trading bitcoin pair altcoin
and iam buy ico coin
Well investing in altcoins seems to be an best option at a moment as if you choose a right coin and if price pumps then you can make huge profits even in a single day. Everyone chasing pumps in alts is why so many people get burned. None of these coins have any market function, they're just new speculation vehicles, so you're just gambling that you're not gonna be the one left holding the bag when more people are selling than buying. That's a pretty big risk since it's completely random or you're at the mercy of people much smarter or richer than you. Maybe that's your game, but not mine, and I wouldn't advise new folks to be getting into it unless you want their first crypto experience to be negative. |
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I wouldn't invest in a casino bankroll. The most reputable one (JD) deals with a garbage coin, and everyone else is too high of a risk to steal the money. The meager return you get for investing there isn't worth the risk of loss.
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For people who don't understand what this thread was originally about, the thesis was that there was going to be a large market downturn this year, and an analyst was advising clients to move all their investments to cash to be able to take advantage of significantly lower prices. It didn't have anything to do with bitcoin or crypto.
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If we consider a country as a public company while its debt as its stock, then, for example, the ratio of the national debt size of the US to the size of its economy will be somewhere around 1.2 ($22.4T debt / $18.6T economy size). As I figure it, this ratio is quite low if we compare it with similar ratios of most successful public companies out there. In this way, countries that don't have debt at all could be viewed as privately owned companies...
Saudi Arabia fits perfectly into this scheme as well as Russia, to a certain extent
I hope this argument never catches on, government is not a productive enterprise. Its main function is to oversee, also I think you've not considered all the debt of public bodies. If you include the entire nations GDP then you have to include all the debt as well Indeed, government is not a productive enterprise. Just like the board of directors of a company ain't either. It is the nation which is an enterprise that produces goods and services. And the government is, as you might have already guessed, its board of directors. Regarding the size of the US national debt (which was used in my analogy), you can take it from here. I can't say how authentic their figures are, but they should account for the total national debt, including the debt held by the public and the debt held by government accounts as well as intragovernmental debt... As I understand it, the latter two should be excluded from consideration Debt clock is pretty good for ballparking, especially if you're looking for an overall debt level in the economy. But including state and local debt in the national debt numbers isn't realistic, since state-level debt doesn't get tacked on the national debt. There's no precedent for doing so, at least. For exact numbers, I like the Treasury's website. They publish the federal debt (to the penny!) every day that takes in to account all the notes the federal government issues to fund itself. It includes public and intragovernmental holdings: http://www.treasurydirect.gov/NP/debt/current |
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For anyone who trades normal stocks and has option approved account, go to USO and look at options for Jan 17 for a strike price of 17-20. Thank me later.
I went and I looked. I'm assuming you're talking about buying calls and not shorting puts? The call side requires 70% appreciation in the next 3 months to pay off, although the calls are dirt cheap (which reflects the very real possibility this doesn't happen) and the puts are trading reflecting a likely price in the $11 range by January. I don't see anything jumping out at me screaming DO THIS NOW on either side of it. |
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They definitely could control oil and gas production if they wanted to in the USA, I dont think they ever should or that it would be of benefit financially to the wider population. I worry about western governments having so much debt they become politically liable to do what foreign powers want them to, thats not unprecedented.
Tell me a foreign strong power that is not swamped with debt. USA, European countries, Japan and China have very hight debt. Even Saudi Arabia has started to borrow money the first time after decades because of the low oil price. Only Russia has a normal debt rate compared to the GDP. But I doubt that it is that powerful to dominate all the other countries or at least have major influence on those countries. So I would not be worry about it. If we consider a country as a public company while its debt as its stock, then, for example, the ratio of the national debt size of the US to the size of its economy will be somewhere around 1.2 ($22.4T debt / $18.6T economy size). As I figure it, this ratio is quite low if we compare it with similar ratios of most successful public companies out there. In this way, countries that don't have debt at all could be viewed as privately owned companies... Saudi Arabia fits perfectly into this scheme as well as Russia, to a certain extent I'm not sure the analogy translates well. Some companies can be healthy at over 1 debt:equity depending on he industry, but most countries are not deemed healthy at over 1 debt:GDP. You have to compare nations to nations I think. Also, US debt is 19.5T, not 22.4T. Give us a few years, we'll get there. |
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The type of currency is rather irrelevant. Anything that has widespread value can be used to fund illegal activities, and more, should be expected to be doing so. USD, Euro, Yen, btc, gold, diamonds, drugs, etc. The medium is fungible, criminals will be criminals.
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The best investment strategy is to invest in companies that actually produce a product and hold the investment for he long term. Stay away from all crypto, which is nothing short of a speculative gamble. You might as well flip a coin.
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PayPal is not a scam. It's a business that has policies in place due to people using the service to attempt to scam. You can read that as "it's a business that enforces certain policies to protect itself." People confuse that with scamming, which it's not because they tell you exactly what you can expect in their TOS, which I'm assuming no one reads.
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