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It is hard to tell what 'on track' really means these days.
I have started to look at bitcoin business as a moment to moment business.
Bu I suspect the times of the major movements have cooled off and I suppose ot will stay that way for a while.
The no-2x-news was surprising to many people, and crypto currencies react on surprises with large movements.
Now that the surprise about that news has settled, the movements have settled as well.
Until the next surprise comes.
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I do not think that banks have much problems with crypto currencies.
They make their money more and more with services, and not so much with the money of their clients deposited in a the bank account.
I have already heared that the private customers become more and more a liability to the banks. They try to reduce the costs with new technologies... such as the blockchain.
I can imagine a world where the crypto currencies supply the payment system, and the banks supply the consulting and service system.
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Nobody of us knows the price we will have in one month.
The movements we are seeing at the moment are fast and with a very large amplitude.
I still can not exclude that the 10 K barrier won't fall on christmas eve.
Nore can I exclude that we might oonly have 3K.
All we can do I reac in a way that seems to be appropriate to us. That means either hold, or try to take advantage of the ups and downs.
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Many miners went to BCH, and the number of transactions seems to have increased as well.
That leads to really astronomic numbers in the transaction fees.
I try to switch to a different currency to make transactions whenever that is possible.
Many Shops have already started to accept not only bitcoin, but many other crypto currencies as well.
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I think it always depends on what goals you have.
When you invest in bitcoin to make a certain purchaise the time to cash out is there when you can afford the thing you want to buy.
When bitcoin is planned to be used for your retirement, you sell it at that point.
In general I think the average bitcoin holder is still young. Holding it for three years or more should not be a problem.
But selling at a certain point is inevitable.
It makes no sense to have a lot of coins in your wallet at the end of your life when you could have used them to lead a better life.
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That is a really interesting experiment.
I suppose it would have the same result in almost every other country in the world.
I think what we can learn most of that is how little people still know about bitcoin. Maybe they have heared the term, but they have no clue how much value there is in one bitcoin.
When you keep in mind how high the price for one bitcoin already is today although most people are clueless about it, you can get an idea of how much bitcoin can still grow.
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I think we have seen that BTG fork had no measurable impact on the price of bitcoin.
Although it has been now six days after the fork, there are only a few exchanges that actually trade BTG.
The major ones are investigating the software and have not decided what to do.
I think that is not a good start for a new currency.
Maybe BTG will help to prevent other possible forks in the future.
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Do u think bitcoin in 2018 will be $ 15K?
What is your idea guys?
That's really a very high price to reach,but not impossible as bitcoin price has reached $5,770 today from just $650 within a year. Even though the china threat is no more,still another hard fork is possibly awaiting in the very next month november when segwit 2x would be activated. Its unlike BCC hard fork which had very low miner support,segwit 2x has almost 85% of miners support. So,only if bitcoin survives after that hard fork,bitcoin price could be expected to go high. That is something I am wondering as well: What exactly will be bitcoin in 2018? The coin we have today, or the 2x fork? And because I don't know what coin will be bitcoin in 2018, I really have a hard time estimating the price bitcoin will have next year. Maybe we are even talking about the combined value of those two. |
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There are so many bitcoin predictions around.
They go from zero to a few hunder thousand dollars. And nearly all claim to have some mathematical background.
Personally I do not believe any of them. I do not think it is possible to include all variables into those equasions. Nobody can tell what fork or hack will occure next year.
In the end only time will tellwhere we are heading.
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I must say as well: Of course not.
Gold is not only a way to store value, it is needed in the industry for many reasons as well.
We have gold in nearly every electric device. That is something bitcoin can not deliver.
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I think that many people here mix the bitcoin gold fork up with the 2x fork. Simply because the dates for both forks are very close together.
And I suppose that is exactly what the inventors of bitcoin gold are counting on.
To me the bitcoin gold split is irrelevant to bitcoin.
But the 2x fork is not. In my eyes the price increase of bitcoin that we see at the moment is a result of this fork.
To be on the safe side, people buy bitcoin now in order to have both coins after the fork.
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If a person has no close relatives he wants to give his bitcoins, I think the option of letting the bitcoins get lost on purpose can be given a thought.
When somebody is dedicated to the bitcoin project and he wants to do the whole community a favour, he has the possibility to reduce the supply of bitcoin by removing his share of bitcoins out of the system.
Everybody who owns bitcoins (and is still alive) would benefit in a small way from that.
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Bitcoin will survive as long as there are people willing to mine it.
The miners keep the blockchain alive, so without miners there is no bitcoin.
I think there is no time limit set for the existence of bitcoin.
It can very well be that bitcoin will be around in a few hundred years.
Of course it is another question how valuable it will be by then.
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The only way I know in how to tell the value, the price of a bitcoin is to look at the price it is traded at exchanges (and there the value is defined by supply & demand).
I do not see a way how a normal person can determine it another way.
There is always that gut feeling, that tells me that at the moment bitcoin seems to be expensive, or cheap.
But with bitcoin, I do not think those feelings can give a proper advice. There are too many factors I do not know.
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Right now there is no bubble. User base isn't much and the target market is big. So whatever price rise is there is genuine according to high demand and a limited supply 650k Bitcoin a year which will keep on halving every four years. This trend will continue for a decade or so with some ups and downs. But a bubble will definitely build up later and will pop out too as demand only can't sustain a market until there is some unbeatable real use. But nothing to worry as for now.
Loot is always there. It's not the reason. It seems to me that the price is stable because whales don't make large purchases. They are slowly buying up coins so as not to unbalance the market. After they buy out the entire volume of coins the price will go up again. The reason behind the whale controlling the price is small market. There are bulk holders and can easily drive the price. But with time the distribution of bitcoin will get uniform and whale will lose the hold. Whales have nothing to do with bitcoin bubble. Bubble builds up when the only driving factor for the price of a commodity is demand without any intrinsic value. This will definitely happen but will take some years to pop up. It is extremely unlikely that the distribution of bitcoin will become more uniform with time. That's not how capital markets work. As a whole, the rich continue to get richer because they have a significant advantage if they want and know how to use it to manipulate markets, which is even easier in the crypto space because of the lack of regulation. The more money/bitcoins you have, the easier it is to make more. I think as well that every distribution of wealth is concentrating on individuls with time. That includes bitcoin. Those who already have many will have more in the future. I think it is because the rich people have no reason to sell. Poorer people have to cash out their coins in order to make a living. And those coins go to the rich people. |
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I try to be a careful guy, so I have at least three copies of everything that is important on hard drives and USB sticks.
Recently I added a paper version where it is possible.
Three months ago my hard drive was not responding anymore. Thanks to my copies that was no big deal!
I'm glad to say that I never lost bitcoins till now.
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I would start thinking about spending bitcoins if I had really a lot of bitcoins.
I think there is a point where increasing your fortune is not as important as enjoying your fortune.
Bitcoin is money, and money is ment to improve life. The knowledge of having a lot of bitcoins gives you certainty that you do not have to worry about financial problems anymore.
And based up on that certainty you can start to enjoy life.
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I think that crypto currencies bring a new era to the money business.
They are weakening the position of an institution that has ruled money over centuries: the banks.
And I think as well that we are witnessing a new era within crypto currencies as well: the seperation from the dependency on China.
In the future we will see crypto currencies truly decentralized.
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I feel that this threat is serious. I'm just new to bitcoin and now this is what happens. I hope that there's another country that will save us and replace China.
It is really serious but not that big of a threat. China is the only one who holds most of the bitcoin and now that they have sold they are powerless with the bitcoin ecosystem. At the same time they hold most of the hashing power in mining but so long as someone replace their hashing power, we will be fine without them. For sure if they really have gone out of the seen, the mining difficulty of btc would be lessened and new more miners would begin to mine it. The only thing I would miss from them is their manipulation that almost constantly happened in the history of bitcoin. Guys, there's nothing to worry about, china has lost its market capital and even if there's no hash power come from china the blockchain will just adjust the difficulty to the available hashpower. china is overrated and see now, they have a little market, not an interesting thing to talk about anymore, have a little to zero affection to the market. The last numbers I have read are that the volume traded at chinese exchanges has decreased from 90% in 2016 to about 15% that we have at the moment. That is something we can all life with I think. Mineres seem to be still placed at about 60% in China, that is much. But the miners were never targeted in China, so I don't think we have to worry there either. But just from the from the point of view that contains decentralization, I would welcome it if we could distribut the mining power more equally on the globe. |
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Bitcoin is getting more and more expensive because people consider it to be an investment.
The number bitcoins bought by long term holders is rising in a larger way than new bitcoins can be mined.
That means less supply and an at least constanat demand. Only possible outcome in that constellation is a higher price.
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