It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?
If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?
Yes .Bitcoin market will be fallen.1 million bitcoin is huge amount of bitcoin. If he sell all of his coin in one time, the effect will be decrease the rate of bitcoin. Even if he did not sell all his coins, if at some point it is discovered satoshi, the creator of bitcoin is selling his stash, then everyone will begin to panic, if even the creator of bitcoin is cashing out, why I should stay?, as you can see it is not only the amount of coins we need to be worried about, just the act of satoshi cashing out come coins will be terrible for the network since people may lose faith in bitcoin almost overnight. |
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Nothing impossible. We have been seeing the universe evolve for billions of years to make itself habitable for us, so why not bitcoin be replaced by something superior? But the biggest question is, how long will it take to evolve and will be be there to witness it at all ?
So just because Etherium have good price now it will be a candidate to surpass bitcoin? To my own thoughts, a big no. Is ETH can now be used to buy products? If yes how big is it now? Etherium high price is because of traders want to earn profit and not because of demand to it that will be used to buy products. So meaning ETH is all about money after all and not to used as currency for usages. Im still new to altcoins. Anyone can correct me here. The high price of Ethereum has to do do mostly with ICOs, many ICOs are being created every month and a significant portion only accept payment in ETH what that means is that people need to get ETH to buy into those ICO, the demand gets higher and then the price follows, it is not really complicated what it is happening but I think it cannot go indefinitely. |
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If you want to reach 1Bitcoin using the safest way then just hold your Bitcoin and continue doing your signature campaign until you get 1 Bitcoin and if you are in a hurry getting 1 Bitcoin then i suggest to gamble it in sports just look for the best game, look for a tipster and analyze the tips and you are good to go you'll reach 1 Bitcoin in no time but there is a chance that you'll lose it all. so again just stick in your signature campaign.
Really? Signature Campaign is your best bet? There is a lot of way to earn bitcoin, it is not just the Signature Campaign and gambling. You can do some services ces, freelance, you can also buy some digits of bitcoins, join a bounty campaign of an altcoin and then sell it online. There are many things we can do to earn more money but the reason most of the time people are going to bring signature campaigns is for the simple reason that anyone with a goof enough command of the English language is able to earn a little bit of money for something that we would have done anyway, but the good thing is we can use our earnings in signature campaign to jump start some other activity that we may like to do instead. |
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Bitcoin is undervalued. It can jump to new heights easily with enough members investing in the cryptocurrency. However, we need to fix many issues such as the increase in transactions, huge mempools and large confirmation times. But once these are gone ... well, Bitcoin can then reach higher than the moon!
I don't think mining fees can be reduced to amount we use like before. Many corporates may acquire bitcoin mining and earn the mining fees from us. Confirmation time we can rid from that now also with paying the high fees or default fees on the online wallet. People always indicate the transaction fee to be an major issue, why this is happening I don't know, because when the price was around $500 everyone were paying lower transaction fee and getting faster confirmation. Right now the price has increased so an increase in the transaction fee should be accepted. Else how could the miners get profited, if we're providing with the same when the price was around $500. Everyone expects some good earning, so there's nothing wrong with it. People always shows the transaction costs into the main problem, why this happened I don't know, because when the price is about $700 people that pay lower transaction costs and get confirmation faster. now the price has risen so much that the increased transaction costs must be accepted. How could the other miners benefit, if we provide you with the same price around $700. and thus it may affect the value of bitcoin actually The fee has raised together with the price because an higher price means that more people are trading their bitcoin and with more transactions and a limited space in each block then that means more people are trying to get their transactions confirmed and they begin to compete with each other in order to get faster confirmations. |
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I recently paid for some local tacos using Bitcoin. My friend who was unfamilar with Bitcoin thought it was strange, like I technically didn't pay for them or something. We got into discussing Bitcoin and one of the questions he asked me was:
"Why would you want Bitcoins instead of cash?". For a second I didn't know what to say; then I thought about it and here is what I came up with. Feel free to contribute to this.
1) More security (especially if you are careful).
2) Bitcoins are a potential investment, cash is not. Paper currency only really goes down in value, Bitcoins have a lot of potential to be worth more as time goes on.
3) Fast, worldwide transactions at your fingertips.
4) Similar to #3, but it's a universal currency. It's legal in most countries of the world and you don't need any kind of currency conversion to send money to people in a different country than your own.
With bitcoins,money could be sent all over the world with very low fee compared to other payment systems.Its an ever growing investment.Its safe and secure. Are you sure about that? Paypal charges $0.1 for small transactions while bitcoin requires users to pay more than $2 in order for transactions to be confirmed. Do you think that bitcoin fee is cheap? Do not say anything bullshit here if you do not know anything about it Bitcoin transaction fee for small amounts of money is definitely not cheap at all, but for those that live in the first world or that can send bigger transactions the fees may not seem that bad, but if we want a world adoption from the population of the world this problem with the fess needs to be resolves as soon as possible. yes small transaction is creating problems with big transaction fee. now we cannot use bitcoin for purchasing small items online, the exchanges are increasing the transaction fee from time to time, for example the yobit was charging 0.0003 but now they increased the transaction fee to 0.0009 which is 200 %, i think there should be a regularity authority to have check on theses exchanges and to bound them about the increase in transaction fee. While that will be a way to solve some of these issues I think since we are in the world of crypto that a decentralized solution could be better in some aspects than a centralized solution, there are already some decentralized exchanges but they have failed to capture enough user base to be a threat to centralized exchanges and without that the centralized exchanges have no reason to change. |
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No lol. Otherwise why do you think that most of us are still on this forum anyways? If I was a millionaire i would be enjoying the high life and taking vacations whenever I can and not bother to check back on this forum every once in a while... Sigh.
You can't assume that people just held through all these years. I've been using bitcoin since 2010 and i'm still a pretty broke bloke. The worst thing i did with my savings was to buy in at 2013 near the ATH only to sell it at $200 apiece a year later. Absolute stupidity if you ask anyone right now. But things looked grim back then, bitcoin was still in its early stages and didn't have many believers. If i held these coins i still would have doubled my money which is crazy if you ask me.
This is why it is a minority of people from 2013 that are millionaires, most people sell off long before having a net worth that high. You can call it short sighted but why would you risk tens of thousands or hundreds of thousands of dollars if you can take it out risk free. This is correct, those that bought back in the day, probably took the earnings they could and then they sold, nothing wrong with that but only those that truly believed in bitcoin or that were very intelligent investors will keep their coins for this long and I’m sure even them have problems holding at the moment since the temptation to sell at these prices are without a doubt something to take into consideration. |
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Well, I tried my luck with a low fee (~9 Sat/byte) a few weeks ago on a small transaction. Now I'm stuck with an unconfirmed and dusty transaction. Ugh! Trying to figure out how to get it unstuck is taking more time than the money was worth.
In future, I will be sticking with recommended fees. You never know when the low fee will bite you.
That is an awfully low fee, the truth is that transaction may never confirm, but at some point you are going to get that bitcoin back, but this show to use the futility of trying to use a low fee, it is a lot more problem than it is worth, you could have been better just paying the recommended fee and forget about it, instead now you need to worry about whether your transaction is going to confirm at all. |
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I think you want more profit so you can bitcoin on hard cash. Because bitcoin become more popular all over the world.More countries and more people adopting bitcoin and its price increase very fast.
That's true. One who needs to make more profitin need to buy bitcoin without fearing that it decreases in value by the years to come. Before buying for your trust analyse the price chart from the days of bitcoin development. It gives hope and I don't have good cash to buy, else I could have bought it now. The most important thing is to know why you are buying your bitcoin, are you trying to get big earnings in the short term, or are you trying to hold for a long time and get sure returns? If you pick the first you must understand that trying to predict the market is really difficult and it is something only a selected few can do in the long term, but if you want to hold for a long time then a decrease in price is not really important since you know that in the end you are going to make money. |
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Hi,
I know you guys get asked this all the time. I'm new to cryptocurrencies, trading and I've never been involved in any sort of forums before either, so i'm sorry if I've posted in the wrong way.
I'm looking into the happenings at the moment and trying hard to catch up. It is a lot to digest and I think there are important dates coming up that I need to be wary of. It seems July/August are to be big dates for Bitcoin and I am trying to understand if i have already missed the boat and if the risk/reward is too high/low.
Am I right in thinking that the value of bitcoin could swing either way with a 50/50 chance after this date?
Is the current general thought for investors that after August, there might be a large dip, but it should recover to eventually get our 500k valuation (in a long way off), or if it goes south would it be dead in the water?
With the current spikes and new all time highs in the price, would I be buying in too high at this point?
Would i be better to buy as much as I can before these dates or would it be safer to wait until after and then buy in?
Sorry if have some misinformation.
Thank you for your time!
Ethereum is growing like crazy in this last month the last time I saw it was just 6 billion dollars behind bitcoin in market capitalization and if things keep like that then it may surpass it for a little while but to be honest I think that is a bubble and soon enough the price will need to correct itself so you need to be careful about the way you invest your money at the moment. |
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With crypto in general hitting mainstream these days, I'm pretty positive adoption would spike up too. Everyone knows BTC, the problem is they know it as an investment and not as a means to buy or sell something.
That's where we're gonna have problems in terms of adoption.
The problem we have with bitcoin is the same problem marketers have with almost everything, making people know about your product is easy, making those same people buy your product and use it is hard, people don’t really care about the ways things work until they don’t, that is when they begin to search for answers, so I think we will need a more crippling effect on the economy of the average person so they can realize the potential of bitcoin. |
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Or they are simply slave of the system like every one of us ?
I think traders are just sheep like the rest of us following the general trends and hoping to get rich quick, there are too many whales for them to be able to realistically collude enough to affect the price substantially. While many traders try to follow the trends the truth is there are many traders that are anti trends, they try to time the market and see when the trend seems to be about to change, when this happens they short bitcoin, obviously the problem with that strategy is if they time it wrong then they can lose a lot of money if a big bull run follows. |
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The point is young people dont even have alot of capital. Nobody is suggesting you go into debt to use, invest or setup using bitcoin but just be involved as much as possible so that as a young person starting out your own growth is combined with this technology not even understood fully by the world and is also able to carry you upwards much faster then the traditional route (college, debt, etc).
Its equal to Bill Gates dropping out of college, was that wise not really but he knew his business and he was right in the end, if you can take a reasonable risk then sure its probably fair advice take that leap and be involved. Seems fair to me
But while the young don’t have a lot of capital, they don’t have a lot of responsibilities either, they can take the risk now since they only have to maintain themselves and no one else, unlike a family man that has to maintain all his family so today is the best moment to invest in bitcoin, because if you wait to do it until the future the price of bitcoin may be too high for you to buy any longer. |
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Yes it is possible but crime is also funded by paper money so dont blame the bitcoin for all those internet crimes.Although we know that bitcoin is a big part in the different crime sites like silkroad because of the anonymity that you can get from it.But still,there lots of crimes that actually happened before bitcoin was intruduced.
Yeah it is simply ridiculous to try to blame bitcoin for something that cannot be avoided, it is like they think cyber crime started with bitcoin or something, it is like they believe that before bitcoin everything was well and good and suddenly bitcoin corrupted the people, and that is not the way it works crime has been there before bitcoin and it is going to continue after bitcoin. |
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I’m new to all this crowdsale thing but I have a question, in the white paper is specified 15 million NVOT will exist with a price decided by the market, does this mean that supposing the project gets 1.5 million the price is going to be 0.1 dollar for every NVOT? And if an investor decides to put 3 thousand dollars does this means he is going to receive 30,000 NVOT?
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Definitely they realized that they are now belong to the million dollar club. But as a bitcoin enthusiast the only millionaire in their eyes, probably, is have million BTC.  . In fact being involved in BTC activities every day makes me forget that my national currency is not Bitcoin but rather Peso, I believe this happen to many of us especially those who have thousands of BTC in their stash. Probably the only member of the club of bitcoin millionaires, those that hold 1 million bitcoins, is satoshi himself, unless we have the next JP Morgan or Rockefeller in our ranks I doubt anyone is going to reach that amount, also I don’t think it is good for bitcoin for someone to be that powerful and have access to that many coins since that person could move the price of bitcoin as he pleases. |
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I think many of us, have a huge problem with the volatility of the BTC. And also the technology behind the BTC is outdated. There are huge amount of the other new generation cryptocurrencies that are more secure and adopted to special needs of different economic and consum needs. I have a big problem with BTC because of the high volatility. So i found Minexcoin, that according to the whitepaper might be more stable and less volatile.
Technology is not everything, technology is important but it does not tell the whole story, people trust in bitcoin more than in any other coin, also even if you think the technology is outdated that does not mean that it cannot improve, bitcoin moves a lot of money so it makes sense for the developers to be very careful to what they add to bitcoin. |
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yeah. it's very strange how little thought is given to this.
as far as i know the only banking coinbase could get in america is with silicon valley bank. what happens if that relationship ends? what happens if bitpay can't get any banking?
it doesn't even have to be pressure from governments, there's enough pressure between the banks and paranoia about breaching regulations. i'm surprised banking is still available in so many places as there's not much for them to gain compared to the potential problems when it comes to regulation.
You are correct, the only thing that I can see changing that is that bitcoin and other cryptocurrencies becomes so big and attractive from the point of view of the banks that they will not want to pass on the opportunity of making money with bitcoin exchanges, but as you said that is a possibility and it is one point of failure that at the moment seems impossible to address. |
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That's just really something if only we all knew that the price would be this high maybe all of the early adopter would be millionaire by now, And how I wish that I found out about bitcoin earlier . The only way to know that will be to fully grasp the revolution that bitcoin signifies, it is very easy to say that we will hold the bitcoin but the truth is that many of the early adopters spent their bitcoin and now are doing the best they can to try to earn as many bitcoin as they can the same way we are trying to do it, so it is very likely nothing would have changed. |
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Gold and Bitcoin makes a great combination. Gold is one of the least risky investments, and although the returns can be low, there is a good chance that you will never get a negative ROI. On the other hand, Bitcoin is an extremely risky investment, and no one can predict the future exchange rates. An ideal investment option would be 75% gold, and 25% BTC.
In the aggregate gold does not lose money and does not earn money, gold is a way to store the value of your money, and in the long run gold is very good at that but like any other thing sometimes gold can become overvalued or undervalued, we have seen this process in the history of mankind, there were places long time ago where gold and silver were exchanged at the same rate. |
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How does some one go about cashing out 5 million dollars worth of bitcoin?
IS there a trust worthy exchange that doesn't have low limits.. and high fees?
Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.
Does anyone have any experience cashing out large amounts that does not take a year to do?
thanks
It is possible but such a high transaction is bound to bring attention and you will need to verify your identity and how you earned those coins, since we are talking about such a huge sum of money that is one case where being willing to lose some anonymity is fine, just don’t try to cash out all of that money at once, try to withdrawal 100k at first and keep doing that until you withdraw the 5 million. |
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