I heard some folks on Quora that bitcoin is going to die but blockchain is the future. What do you guys think of this?
Oh, some folks on Quora said that? Then sell sell sell, it is definitely going to die if they say so! I think that Blockchain is the future, but Bitcoin is the original blockchain, I would be surprised if Blockchains take over the world, but Bitcoin is somehow dead in the water. It 'could' lose it's number one spot, but if it is worth $10,000 and isn't number one, I think I could live with that. |
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I don't get the numismatic value of the coin. I mean ok, it was an early Bitcoin, it looks nice but...
That seems like it would be worth maybe a $200 premium, but not a $5000 premium!
I think it is just a sign that early adopters have too much money now! People have lost grip of reality and think that 3.5BTC a reasonable price is for 1BTC with a few dollars worth of metal.
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do you think crypto continue throughout this summer to $200billions+ mark?
yes, i think it will be close to it.
A billion here and billion, soon enough your talking about some real money! On a more serious note, $100bil is a big landmark, does that mean that crypto is worth more than the richest person in the world? Apple is worth $800bil, but then there are lots more Apple users than Bitcoin users, and they probably spend more per person, at least the median amount, on Apple products. I don't really think that Bitcoin should be worth more than Apple, I used to think it was stupid that Zynga was worth more than Bitcoin, but now Bitcoin is up with some big players! |
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Today could get interesting! Waking up to all time highs at the start of the week, it could go ballistic, or the crazy volatility could return.
I will have my Bitcoin tabs open all week again, although I usually do at the moment!
I'm still wiating for the alts bubble to pop though, it seems like they are flying far too close to the sun.
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There won't be a split but it would mean ETH LTC XRP ETC XMR double or triple in value.
They already have! The prices of ETH LTC XRP ETC and XMR are so grossly overinflated that it is crazy. I would be looking at getting more Bitcoin classic if there was a split, I mean ETC has done quite well, even though that split was about as fair as could be. I don't think that Bitcoin failing helps alts, I think it weakens the whole environment, I still believe that if Crypto is to succeed in this generation, it will be with Bitcoin at the forefront. |
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Firsty, them deciding what is suspicious and not suspicious
Not everybody is an employee working for someone. Some people are entrepreneurs, and as an entrepreneur, you can have some HUGE days. I don't need a bank telling me that my successful day where i made $20k+ is suspicious if I want to withdraw all of it. (people have been arrested for making large withdraws before).
Also, banks freely allowing their customers to scam business (via chargeback). Instead of blindly chargingback purchases and screwing over merchants, visa applicants should be required to take a course outlining the risks of credit cards, and Visa should do proper investigations when a chargeback is brought up.
If a tracking number and proof of delivery can be proved, why should the customer be given their money back?
ALSO, i recently looked into banking investment options. It comes across as a way to just make more money off customers. Think of it like this. It's like it's just them taking your money so they can invest it in polyniex. I only tried it out cause my family (who doesn't know about bitcoins) encouraged it.
Do you have any gripes about banks
They can charge you to give you your own money. They can refuse to give you your own money. In a bank run they can be unable to give you your own money. If you want to borrow, the rate is very high, whereas if you want to save you get nothing. Those are the gripes I could think up off the top of my head, there are definitely more. Oh yeah, foreign currency exchange rates. In Germany, the clearing times for transfers can be 2 days too. Lots of things not to like. |
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I read the first price for bitcoin was determined by the electricity cost required to mine a block and from that people would have calculated how many bitcoins for $1 and so on now we are into one bitcoin for $2500+ Similarly why not we switch over to calculating how many satoshi for one dollar. I believe there will be exchanges to be ready to adopt and provide trading facility based on this. As per preev, right now $1= ~4000 satoshi. Why this : Stocks trading has a tradition of spiting. Read more on split here : http://www.investopedia.com/terms/s/stocksplit.asphttps://en.wikipedia.org/wiki/Stock_splitThis is not exact split, but I believe this will serve the purpose of splitting. Let us discuss, What are pitfalls we may face if we switch over to new unit. What will happen suddenly an exchange will provide trading based on unit satoshi. More importantly how it will influence bitcoin price levels. This already happened in 2013 on Bicoinity when they changed from the Bitcoin to the mBTC. At the time it meant that 1 mBTC was 1 USD, which was nice. The Satoshi is too small to be meaningful. No one wants the penny or cent to be broken into 40 parts, it is pretty pointless as it is now! So to answer the question, I would see that the µBTC could be used when 1 BTC is worth over $100k USD, so 1µBTC is 10 cents. The Satoshi should be used when Bitcoin is over $10mil, which I guess would mean that the USD is already pretty much dead anyway! |
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With new elements being made in the lab, surely Gold and Silver must be worthless!
Alts generally are crap, so the fact that there are 750 of them is fairly meaningless.
It is like saying that if I write 1 UK Dollar on a piece of paper, I have made a new fiat currency, so all fiat should be worthless.
Most alts are worthless though.
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I think we might have a weekend dump again like last week.
It seems like when the markets are open, the price rises, but at the weekend crazy stuff happens.
I seem to remember the big falls back in February being on Fridays, and last week it was too. If it does happen, I hope it is less crazy than last week!
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Wow, where is the newbies forum!
Luckily for the first 2 questioners, Satoshi was onto these problems from the start and came up with systems that are still holding up now that Bitcoin has exploded in price and popularity.
The rewards halfing are a slow move towards transactions fees supporting the network, that is the question to your next question, which would be, what happens to mining after the rewards stop.
The difficulty increases are also pretty ingenious, even if Satoshi really didn't want ASICs and mining wars to take place. The average block time is actually less than 10 minutes except for when total network hash speed falls (I doubt that will happen for a while), but every time the difficulty is increased, it temporarily goes back to be 10 minutes on average per block.
It's good to know that real newbies are getting involved. It's also reassuring to know that Bitcoin has many of the systems in place to make it somewhat future proof (except the block size!)
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Open letters worked well in the bible, nowadays they are just people publicly whinging about stuff.
He is right about ICOs being basically a fraud though, someone should really do something about it. You have people collecting millions of dollars to do essentially nothing, then getting bored so walking off with the money.
I don't really blame the scammers, they basically start something that is known to be a scam, people throw money at them, then they walk away rich. People are happy to do it too, because if they hit big with one coin (ETH for example) they could be rich for life.
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BAT ico. Thousands of transactions in a matter of seconds.
But surely that is the point, ETH should be able to handle a very large number of transactions. I thought that the whole stock exchange could be run on Ethereum? Are you saying that BAT traded more that HFT on the DOW? I think they might have to make some tweaks before it really takes off! |
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A country doesn't "adopt" Bitcoin until a large number of people begin using it, regularly, as an alternative to fiat currency.
Allowing something to exist does not encourage it, and a few merchants accepting it in addition to fiat does not indicate adoption at all.
Any price rises which happen from this would just be empty speculation, not based on actual users.
I do not agree with you. If some of your bigger payment processors show enough confidence to publicly announce that they are going to accept Bitcoin as a payment option, then the smaller merchant will follow. We normally see the smaller merchants taking the lead with something new, but this is a significant move from the bigger players. ^smile^ The same thing happened in Japan, and the wheel started to turn. Chronopay don't actually say anything about Bitcoin on their website. Furthermore, Japan's "adoption" has not happened yet either. We were promised a lot about "adoption", but we are genuinely talking about one or two individual firms accepting Bitcoin as a secondary option to fiat, and there's no indication that those stores actually get a lot of Bitcoin payments. The main thing that shows adoption is actual statistics of companies that have accepted Bitcoin and how many of their payments are in Bitcoin. Until we get that kind of statistic, a company accepting Bitcoin as a secondary/tertiary means of payment is meaningless. Yup its on their website blog > https://chronopay.com/blog/2017/05/29/chronopay-will-support-bitcoin-blockchain-revolution/when I saw the thread title I was super excited, but after reading the posts following, im a little less excited... but its more good news anyway, more ways for people to hear about bitcoin, more ways to get in, its all good in my view The article is a bit odd, why did he hate Crypto with a passion, but now suddenly without explanation, he likes it? Increasing market access is always a good thing, real big news would be in countries traded in Bitcoin instead of the petrodollar (yes I read Zerohedge), but I don't see that happening any time soon/ever. I always thought that Russia was strongly against Bitcoin, it is good to see a new market opening. |
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Hello all
I want to buy USDT. Is that possible to use credit card?
MasterCard or Visa Ok for that?
Thanks
I think the reasoning behind the USDT is that people can move between Crypto and USDT without needing to use Fiat, so exchanges don't need to have banking licences. Buying USDT with fiat seems like an odd choice anyway, but it would also completely destroy the point of the tether from most exchangs points of view. Buy any well traded alt, then you can swap into USDT. I don't know why you want to though! |
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I would definitely be a bit cautious about going too long on Bitcoin after the recent whale dumps.
It seems like $2500 or so might be a ceiling at the moment, I think that if the price quickly rises back above $2500, it micht well get smacked down again.
Or it might not, who the hell knows with Bitcoin! I would be cautious, that is all.
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At least it didn't take a year to crash like last time. That was brutal.
It sure was =(. Oh, the wailing.... Not if you have been buying every month from 2012-2016  Dollar cost averaging... Gotta love it Dollar cost averaging is for people who can't see when the prices are high or low, so blindly invest regardless what the price is. Why not save and invest at prudent moments? Like now instead of 2 days ago. 2 days ago it looked far more dangerous than it doesn now. It still could go down from here, but it is less likely. I bought in between $200-300 and haven't bought since. |
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I bet the SEC watch this kind of crap and sit pretty happily back, knowing that a ETF should not be investing in Bitcoin.
I mentioned 2 days ago that is was very bubbly, now nearly $1000 lower, I think we can say it was pretty bubbly.
I don't rule anything out, it might be back at $2700 tomorrow, but this volatility is joke. It can't be classed as a serious investment, we can have fun with it, but 40% falls in a few hours without any real reason, that isn't a serious investment.
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To be fair, they did post about this a few days ago: https://poloniex.com/press-releases/2017.05.16-Industry-growth-and-its-effect-on-Poloniex/They say that they are buying new servers and employing new people as fast as they can, but at the current rate of growth, it isn't as easy as you may think to catch up. As someone before me mentioned, they can't just take anyone on either. They are working with a lot of money, they need to be reasonable tech savvy, and trustworthy. If they ever read the Troll Box, they need to be thick skinned too! |
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I don't think the bubble has burst yet, but I think yesterday's massive crash was a sign that the market is a bit bubbly.
Alts are obviously in a massive bubble, especially the smaller alts that now have several hundre millon dollar market caps!
I think there is life in the bubble yet though, I wouldn't go all in on Alts (I never would!), but I think there could be some time left in this bubble.
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Maybe late 2018 for release.
No need for better gear with coins at 2600.
There is always a need for better gear, it means there is more money to be made by making better miners with higher speeds and efficiencies. For a short amount of time anyway, until everyone has the new miners, then it will be a wash. Same old, same old |
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