Could Bitcoin ever replace conventional money?
Another similar question. My answer is 'no' Basic reason is spread! Conventional money is at present available to everyone anywhere in world and he/she can easily use it. But when we talk about Bitcoin, it is presently being used by less than 1% of the population. Also with its increase use, problems associated with blockchain keep causing trouble and restricting its development. Thousands of transactions are presently unconfirmed on btc network and when Bitcoin will spread further this number may rise to millions. |
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Hey guys i'm earning bitcoins i'm putting hardwork for it, my time, my effort but sometimes i earn sometimes not, that's why i'm job searching, exploring on how can i make money online other than bitcoin Like Freelance, Making Blog but i don't know how to earn from it that's why i'm asking to all who has a lot of knowledge and experienced person to give me an advice to make money online like a part time job or tips i will appreciate all your advice
Earming online is not everyone take. You need to either have great skill or good knowledge and experience. For me, other than bitcoins, I earn from referrals at some affiliate sites as well as advertisements on my sites. But you can't expect big amount from these sources initially. You need to build your content and team. |
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Also there is difference when we say price and when we say value. Prices are in term of currency worth whereas value is in term of commodity worth
This is a very tricky and slippery path So you should be cautious taking it since you may arrive at conclusions which even angels fear to make. Moreover, you should fully understand the claims you assert. For example, how do you fancy Bitcoin value measured in terms of commodity worth? That's all Greek to me, so could you explain what you mean by that? I have my own understanding but you may mean something entirely different, so what's your idea or view of "commodity worth", in respect to Bitcoin specifically? Obviously I mean in general, not specific to Bitcoin. He was referring bitcoin's value equivalent to bitcoin's price, which in not correct! In general, value of anything refers to its worth caused by features, specification or more belonging to that particular anything. Whereas price arises out or trading of that anything which has nothing to do with its value directly. |
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I think continuous increasing of value is not good in bitcoin because if will increase value in the highest level no one like to buy for it all users even investor only want is do work to earn bitcoin and not to buy then the demand will slow down together with the value of it.
Give me some air, do you know what are you speaking? Prices of Bitcoin doesn't got fixed by any heavenly verdict or by God. Its prices are determind by buyers/sellers. If btc worth $2000 today, it is because people wanna pay that amount for it. Suppose people stop buying at this price, price will automatically take a dip. Also there is difference when we say price and when we say value. Prices are in term of currency worth whereas value is in term of commodity worth. |
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Is someone so free and playing games on this forum??
Is someone selling and buying his own shitty unknown coin simultaneously on some unknown exchange??
Is someone just wanna see people appreciating his luck and cursing their own??
Interesting, possible at all!!
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people say it will go to one thousand dollars an ounce or more but if it showed signs of going that high tech companies would likely switch to cheaper metals as alternatives and phasing silver out. it probably would not sky rocket for that reason alone.
i think so many people have silver that if it did go up to one thousand dollars an ounce it would cause economic inflation.
am i mistaken or did i miss something?
Usually price of commodity rises when its demand increases. In order to see demand rising, commodity needs to possess some special status and value. As far as I see, silver was/is never metal of any special distinction. Even poors can afford silver ornaments. However it is working as 'store of value' from many centuries but never able to make its place as 'article of distinction' that is directly relative to price. |
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On this forum I have read lot of times that you should save your bitcoins and by doing so you can generate profit from the rise of prices. So if you mining your coins which are totally yours so that is profit one and if you save them and they rise in the value that's profit two. I guess it's better to save it.
Mining doesn't go free of cost. You need equipments, power, etc. So it is kind of initial investment upon whom one reap profits later. As far as I experienced, buying cryptocurrencies are much better and profitable than mining them at individual level. |
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Can we see BTC return to $1,000 again? As much as I like BTC I still think this scenario is possible... don't invest more you can lose.
Don't confuse yourself with bubble and systematic inflation. Bubble refers to price increase due to high temporary demand in short-period (mostly due to speculative reasons) but systematic inflation occurs when bitcoin reaches new population and demand opens in new areas which is relative stable. Presently, systematic inflation occurring around the world which is relatively more stable than bubble economy. However, it is also subject to increase/decrease due to big buzzes like Chinese Exchanges being reviews, ETF being rejected, etc. |
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Bitcoin is moving to $2000 today. What is the impact of this geometrical price movement to the world financial system? Let us discuss.
In just one word, nothing In more than just one word, the price itself is meaningless outside the exchanges (since Bitcoin is not used in real life), so there is no way it can affect the world financial system. And it is the price alone which matters. If someone sold 1 satoshi for 1 dollar, would that mean anything? Apart from that, the price can easily lose all reference even between exchanges if there happens a thing which I called Bitcoin Big Rip. With higher prices we will see higher volatilities (in fact, we are already seeing them), up to a point where volatility becomes comparable to price itself. That would be a Big Rip event or moment That's true. Bitcoin simply as a mean of speculation won't contribute even a penny to World Economy. It will be merely a trading system outside the bracket of real world, having zero utility for the working of economy. If we wanna see it making some difference in financial system then we should concentrate on Bitcoin foundations rather than making merry on its insane speculative rise. I would argue that Bitcoin does have a small impact on the world economy, especially with these price increases. Some countries have put regulations in place so they can tax you when you make a profit with Bitcoin and cash it out for fiat, that has an effect on the world economy, albeit small. I don't think tax income for countries is the factor shaping development of economy. The true essence of economic development only implies when public in general earn and raise their per capita income. Government tax income is just general pledged money and ow no liability to economic development. |
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Many posts discuss the possibility of exchange earnings with selling Bitcoin (and buy later). Other posts discuss the Bitcoin exchange rate, it seems that many agree there is a strong upward tendency and the volatility is hard to predict. It seems dat selling Bitcoin results in a serious probability of an opportunity loss. Selling Bitcoin can only be motivated by an (partial) exit. Do you agree?
That's true. I agree with this from the day one, I own my first bitcoin. Selling btc can only bring you some profits, maybe 10%, 20% or 50%. But in the end of the story, you are left with no bitcoins, all further increase/decrease, news, and more will have no meaning to you. You will be out of the market and deprive of any further rallies. It is always better to hold btc as long as possible and ignore short term profits. It will help to increase wealth steadily. |
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Bitcoin is moving to $2000 today. What is the impact of this geometrical price movement to the world financial system? Let us discuss.
In just one word, nothing In more than just one word, the price itself is meaningless outside the exchanges (since Bitcoin is not used in real life), so there is no way it can affect the world financial system. And it is the price alone which matters. If someone sold 1 satoshi for 1 dollar, would that mean anything? Apart from that, the price can easily lose all reference even between exchanges if there happens a thing which I called Bitcoin Big Rip. With higher prices we will see higher volatilities (in fact, we are already seeing them), up to a point where volatility becomes comparable to price itself. That would be a Big Rip event or moment That's true. Bitcoin simply as a mean of speculation won't contribute even a penny to World Economy. It will be merely a trading system outside the bracket of real world, having zero utility for the working of economy. If we wanna see it making some difference in financial system then we should concentrate on Bitcoin foundations rather than making merry on its insane speculative rise. |
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Hi
So i've been told that - because the Chinese currently mine majority of ALL bitcoins that get mined, they have the ability to reverse transactions...
Being the avid supporter of BTC that I am, I obviously fought back claiming "BTC transactions cannot be reversed" etc.
So what's the deal, is this true?
Cheers
Just because majority of mining farms located in China doesn't make them Bitcoin super power. They are not working as cartel, nor thus their government leading them. So it is just mere possibility or speculation to say that Chinese controlling Bitcoin blockchain. The Chinese miners are as similar to other miners working in different countries. |
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Username: webtricks Rank: Full Member Post count: 640 Profile link: https://bitcointalk.org/index.php?action=profile;u=921974BTC Address: 13mendmy84QcSjoXRqv1Y69EDkNWv1PUJP Hello Edwardard, I was little busy last week so not very active on forum but I been an active member on forum. see my history, Thanks! |
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Bitcoin is decentralized so that whoever you are from wherever you are rich or poor, you are free to use bitcoin for any purpose. Bitcoin is freely used for anyone. anywhere
I don't believe so. We live in society where some people still struggle to make $5-10 daily hardly. When we talk about present Bitcoin, it means we are talking about Bitcoin which cost $2 per transaction just for fees. Now re-think is a person earning $5-10 daily can afford using bitcoin even for single transaction daily. Present Bitcoin Ecosystem is far away from what dream we had taken on the inception of Bitcoin  |
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What do you think will benefit it?
The thing which could benefit the Bitcoin most is " mass adoption". More the people using Bitcoin, more will it expand and nurture. You said promotion by President. A promotion by President could be only when Bitcoin is legalized in country, otherwise why the first person of country will promote something illegal. So, legalization or recognition is the most prominent thing which could benefit Bitcoin and contributes to mighty mass adoption. Then, advertising and sites using Bitcoin are also various way in which mass adoption could increase. So they are also the sub-heads of the same. However, I don't think "Giveaways" will ever contribute to Bitcoin popularization especially in 2017 when there are already millions of users of Bitcoin. |
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Can I know when token distribution going to end?
Also, is there any update when coin will be listed on exchange and which exchanges?
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What is the problem going techy and use internet?
The question is still the same - are You able to use BTC at the local food shops? Seems no one from them will accept BTC. My answer still remain the same. You can't say cash is better because people don't accept bitcoin. It isn't because bitcoin is less worthy but because conservative people are happy to live with old government guaranteed, corruption hitted notes. |
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anyone try this ? is it safe ? also how the network ? is it stable ?
Yes, BIT.AC is safe and legit destination to store and exchange cryptocurrencies. It has all features that a web wallet need to have. It is good place to keep major coins. |
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Just see the bitcoin price climbing so high. 1900$ is a very high amount and not many people can now afford to buy a single bitcoin. Also those who are earning bitcoin will now get less bitcoins like before some pay you 10$ it was 0.01 and not it is just 0.005 (same 10$).
In short, Will bitcoin will only be in the hands of rich in near future ?
Lol! If you consider someone 'common' from the fiat money point of view then how can you consider them 'poor' if they can now afford 0.05 btc as compared to 0.1 btc eariler because if taken in fiat money, they worth same. So you need not worry, no one gonna judge someone rich or poor if he doesn't have 1 BTC. Moreover to me 0.01 BTC is more standard unit for btc than 1 BTC. |
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