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I hold because BTC has been a good investment so far.
I have no regrets not selling when BTC was above $1,000, and I'm confident it can go back to this level, but I would lie if I told you I wasn't worried. THis is a very sharp fall, and I fail to understand it.
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Actually, we're all early adopters. When the US dollar was invented, it was still seen as new 10 years after its launch.
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There's 5000 convenience stores in Taiwan, 10,000 ATMs in Spain, all just been BTC enabled.... nobody wants good news though.
I am in Spain, where are those 10,000 ATMs? Can you give a map? |
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The true early adopters got their BTC for less than 1$.
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I can't see anything in the near future that will increase the demand side of the equation....
More and more people who don't trust the global banking system anymore. More and more people who don't want to pay tax on everything. More and more people who want to shop online without being traced. BTC's growing, and so is the number of people using it. It seems correct to say that the supply side is growing faster that the demand side right now, but we know the supply's growth will be halved sometimes, so we shall remain confident in the longer term. There will be a day when demand will outgrow supply, just like it did last year. if I understand well you mean when demand get over supply, the price of Bitcoin will go up? (Correct me if I'm wrong, do not know much about economics, but I like to speculate in order to understand) last year there was a big drop Well, I was oversimplifying. BTC grew so high and so fast last year, that many early investors choose to cash in, and many more got scared. As a rule of thumb, growth is good, but the faster the growth, the larger the risk of a downfall. |
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...people should be aware that's like the early Internet... Best thing I've read this month! If BTC could enjoy the same growth as the Internet, this would be a dream. Still, it's true it's quite shaky right now, but there are many investors looking for wild, promising, high risk and possibly high return investments. |
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...Governments belong to the past, especially to me, since I changed country last week.
So which government-free country have you moved to? Just curious. Yeah I would like to know where he has moved to with no functioning government. I'm currently in Spain, a place which may, or may not have a government. Actually, I don't care. Since I don't need the government nor any of its various agencies to live and work, the government may collapse I wouldn't notice. |
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VISA does not care how much USD worth omg! really? visa does care how much one transaction costs. because visa also pays for hardware, electricity, salary and taxes. Don't forget fraud costs, a sizeable chunk of the transaction fees goes towards paying the costs of fraudulent transactions from stolen card data etc. About 6 billion dollars a year last I heard, not really fair burdening the consumer with the inefficiencies of an outdated network  Both arguments are correct, but they don't relate to the cost of the currency used. Visa operates with about every currency in the world. If a given currency goes down, they'll just raise their operating costs in that given currency. |
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I can't see anything in the near future that will increase the demand side of the equation....
More and more people who don't trust the global banking system anymore. More and more people who don't want to pay tax on everything. More and more people who want to shop online without being traced. BTC's growing, and so is the number of people using it. It seems correct to say that the supply side is growing faster that the demand side right now, but we know the supply's growth will be halved sometimes, so we shall remain confident in the longer term. There will be a day when demand will outgrow supply, just like it did last year. |
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Traditionally, faucets make you load a single page for advert viewing and make you enter a captcha. I thought of a quick idea this morning and did a quick dev, http://104.236.74.46/ to try it out. It basically uses AdFly earnings to pay users. Thoughts? P.S. Need some funding, can't provide collateral. (  ) Wanting a domain name for this, sig campaign is coming in too late for me! Just one question, if you need someone to buy a domain name for you, which is cheap, where will you find the funding for the faucet? Do you expect funding there, too? |
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No, I wouldn't.
Cos, that would make BTC worse than a standard bank account to me.
The less I deal with government agencies, the better. By the way, which government? Governments belong to the past, especially to me, since I changed country last week.
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When ... ? when a friend of mine want buy a apple tablet with cash ...  it can't and is bank account is full of money (it can view is account on the ATM) ! it have standard credit card with no option (50 euros per year for the cost of this "standard" card). Last August. Also last year, I've bought a car, and I paid it cash. The dealer wasn't accepting credit cards nor checks. Different countries have different practices. |
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Compare to mainframe used in banks,the cost of Bitcoin is much more higher.Now transaction fee is low because the cost of system is undertake by people who buy bitcoins,not people who use bitcoins.
The cost of using Visa and MC is huge. Shops must buy a dedicated terminal which costs at least $300, and there's a higher fee to pay for each transaction. Then there's Visa which I'm sure has back office with servers in every country the service is offered. We're talking of a network with several thousands dedicated servers in it. This wasn't made in a day, and it took billions to build... |
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ISIS hasn't had any trouble getting funds so far. They buy guns, they sell oil, they raise tax and they even talk about minting their own currency. They don't need BTC at all. |
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Congratulations Elwar! You're the most ardent BTC's fan I know.
If there were thousands like you, price of BTC would quickly jump back above $1,000.
One little question about bitwage: are they fast? How long does it take between the moment your employer pays them and you get the money in your wallet?
It is very fast. My company sends out the payroll on Thursday and I usually get paid on Friday, but looking at my e-mail, the first check showed going through on Friday my second check showed it going through on Thursday. Some of my co-workers use USAA so they get paid on Thursday, most regular banks have always given me a delay. If you are looking for a better estimate I will pay closer attention to the time next paycheck. Oh, very good. Thanks for info. If it's only a day, that's fine. I was afraid it would take much longer. |
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in europe, restriction is 300 euros par ATM or 600 euros in a day (all ATM in 3 countries in the same day) .
deal with it ?
I've already made €1,000 cash withdrawals. It depends of your bank. Rich people have much higher limits, with ATMs where you can't withdraw less than €50. |
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The person relating his poor experience is obviously totally inexperienced with banking outside of his own country. I've been traveling the past 3 months without using a credit card nor BTC. Well I made a few BTC transactions, but I didn't need to do them.
I'm living fine with cash and bank wires, BTC could help, but with so few people using it right now, it doesn't help much.
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One can use Bitcoin to inject information into the blockchain, and that information will last for all of time (or at least so long as the blockchain exists). In a word, it would mean you can use Bitcoin to save your files to the blockchain, in an uncensorable and inerasable form.
Blockchain as file storage - it will cause Bitcoin to go back up in value, and it will give us a solid reason to give for why Bitcoin has value in the first place.
I'm currently paying for a back-up plan for my files, and I have 500 Gb available for little money. Why would I bother with the blockchain to store inconveniently a few bits? |
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Some money's moving but it's only normal, the real worry is that the supply may be growing too fast. 4,000 BTC are added each day, that's a lot!
Yes, that is the problem. And the supply is ALWAYS growing, even at times when there's no real demand. But if the price reaches around 250, then that won't be a big problem, as the miners would not be profitable, and some of them will chose to shutdown their operation, until bitcoin price comes back up. I believe they'll keep on mining. Electricity bills aren't so high. If BTC's price drops to $100, that'll be a real problem, but $250 is fine. dont forget that difficulty is increasing really fast. next increasing it will grow by 13 percent When that's supposed to happen? Not in the coming weeks, I believe. |
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If they don't know what BTC is, that's really surprising. The Financial Times published several articles about it, and most economic publications have already talked about BTC.
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