$10,000,000 for a piece of Bitcoin this is the amount that the coin should reach in order for it to be a replacement for fiat. And this amount was even calculated by Hal Finney way back in 2009. Screenies of a forum conversation between Satoshi and Hal Finney.  |
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Thanks for your answer,
i just watched The Bitcoin Gospel and Roger Ver said that Satoshi is probably controlling 500'000 BTC. If all the world will be adopting bitcoin he can actually control a lot, not just bitcoins at this time. I mean, that's something to think about.
It is possibly true that Satoshi control so many bitcoin because he who mined bitcoin at the first year. Many coins developers do so. When they launch new coins, they have premined the coin before other miners. It is common situation. The question is Who is Satoshi Nakamoto? is he a person, a group or a ghost? Until now there is no fixed answer who Satoshi Nakamoto is. Even if a single person holds that huge amount coins he will not release that coin. It is really possible that the developers have their own chunk of the coin but why are you going to ruin something that you created specially if you know that it has a brighter future. It's true that there were only several people who was involved in the development. Well as always the early bird always catch the worm. If you know how to do it, you can read conversation between Satoshi Nakamoto and Hal Finney about bitcoins development and even mining as early as 2010 on this forum. |
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Price currently is at $5,300 and I think it will still go down further more to around $4000. Maybe also it is because the fork is close and people are trying to sell most of their coins to buy bitcoin in preparation for the fork so they can get Bitcoin Gold for free. This is an opportunity for those who wanted to buy bitcoins too because the price is going down still.
It may go down up to $5000 but a price of $4000 is very impossible specially there is a scheduled fork on October 25th, and it is just 11:00 UTC more trades will happen in the next hours and more will take advantage of this low price. Most likely by tomorrow price will recover and will be around $5600 and will go higher until the 25th. waiting for the $6000 mark  |
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Big Exchanges can Install it but the question 'Is it legal to install such machine?' Govt. of most countries are not able to take a rigid stand on BTC, In such scenario i don't think govts will give permission to install BTC ATM machine.
This is amazing to know that Singapore has such ATM centers and this will inc the popularity and trust on BTC.
There are already this kind of machines on most countries. It is just like an ordinary ATM wherein you can get cash if you use your plastic on it the only difference is you are using bitcoin here. I think as long as the country don't prohibit the use of bitcoin this is legal, this is really a good stance for Bitcoin which can help on letting other people know about it. Once they see this machine curiosity will strike and they will look for the meaning of bitcoin on the net and also trust will be built more because they can see a physical trade for the coin. Using your ether wallet depends on the specification of the machine they have different exchanges and some machines accepts both. They just charge a certain percentage based on the exchange rate from particular source. |
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I love the concept of Bitcoin. I believe the Internet will redefine currency as we know it. I hope this helps the Bitcoin community to develop a currency that's really resilient to attacks.
But, is it possible?
Can you give us one scenario that bitcoin has been attacked before? Blockchain, the underlying technology behind bitcoin has no history of such attacks, although it has been spammed before causing the network to clogged down a little. And with regards to bitcoin wallet, its your own responsibility to protect it against hackers, like having strong passwords, 2FA and secure your private keys. I hope you can research first before posting here because it looks like you don't have a clue what bitcoin/blockchain is. Yes that is right no history that the block chain was ever compromised by the hacker, hacking incidents only happened on wallets and exchanges. I saw an speculation that in order for someone to compromise the blockchain transaction you need to have at least 51% of the blockchain but the problem is no one knows if what is the exact number of hardware is connected to that system. |
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It was one on the issue Satoshi saw the world needed it. But as far now it mainly use is trading for speculation by the newbie and holding by one who bought it years ago.
Of course it needs to be legalised FIRST somewhere. But after that a, will you buy something online and pay in BTC ?
Or it’s just a form of investment like gold was a decade ago ?
This is the right way how the coin should be used. As a digital currency that will be accepted worldwide but most probably we haven't reached the phased of the coin where it will be applied as that. Most people are still seeing it as an asset like stocks that can be traded to others. Also not much of businesses are catering bitcoin yet. Maybe by the time that the coin is used as what it is meant for prices will be at 6 digit dollars. |
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Maybe I'm wrong but I have the feeling that with Bitcoin price growth we have got a lot of new users who are not honesty and passionate interested in Bitcoin but only in fast, instant profit and if they don't get it they got disappointed and give up. Some of them don't even bother to get some basic knowledge about Bitcoin and cryptocurrencies in general. That is also the reason why we see so much panic selling when the price dumps. Is that only my feeling or do you think that also?
I agree with you on this one. Most of the people who own the coins is just seeing it as a thing that you can buy at a low price and sell when price is higher. Not most of them can see what bitcoin can really do. How will it be accepted worldwide and by most people. Well maybe the coin is still on the phase of being introduced to more and more people and the way to introduce it is by letting them know that you could earn if you invest on this coin. By just trading this coin you can earn. |
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no, not all! what you see is the price going up, but that does not mean people are becoming millionaires because of it. although many have been and will continue to make profit but there will always also be a lot of others who will always continue to chase their own tails. we have seen multiple times, people who buy on top then panic sell after things turn a little grey for their taste. like when price went above $4000 the first time, they waited and waited until price was on top and then bought at $4700+ and when the correction began they waited and waited and panic sold at $3500. the market filled with panic sellers will only have some millionaires who become that because of the panic sellers Most newbie post this kind of topic, they don't even know how the price of the coin is rising or falling. Bitcoin itself is not making people rich, it doesn't even generate anything to produce wealth so if someone earn from a trade it means that another loss something too. But still bitcoin has a potential on helping the economy of countries. Once an industry is made from bitcoin and by bitcoin then that will be the time that we can say that bitcoin is making millionaires not by trading but because of that industry. |
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You may be right. The truth is that no one know for sure if Bitcoin will keep rising forever. But besides the panic sellers that won't see anything other the "iminent fall", there are those that sell low to buy even lower and increase their profit. If we are in a high and the there is a correction coming soon, you may sell when there is a 5% drop to rebuy after another 10% drop; It's a valid strategy if you know what you are doing.
There may be reason that they are selling it because they need the funds in fiat, but why are you going to sell something if the value just went down knowing that there is a high chance of it going high again. It's much better if you will just consider that whole amount was lost rather than selling it for a lower price. by doing that you still have a chance of gaining back your investment. |
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What's the best mixer to anonymise some coins?
i.e. in terms of reliability and cost.
Thanks, K
I strongly suggest chipmixer. They have an option to gamble your chips with a chance to double the value after mixing. Chance to receive big chip is around 47% and is provably fair. Also regarding the fees that they are charging they are using Pay what you want as pricing strategy. So no fixed amount to pay depending on your experience with the service. you can click my signature to use their service  |
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Do you think we can go beyond 7k before hardfork?  No, that is too high especially if consider the fact that bitcoin gold is not really that big, bitcoin cash was a lot bigger and it had some small support from some community members while bitcoin cash does not seem to have any support at all so I think we are going to see 6k at best. People are hyped by the bitcoin gold airdrop even if you say that bitcoin gold is not really big and not as big as bitcoin cash, I know right that bitcoin cash have a whale and backers behind it and bitcoin gold is none, it seem to likely make people earning free money out of this HF so it's fine. they're still going to grab some bitcoin for this HF. I agree plus after what bitcoin's price showed after those FUD it is gaining trust from more and more people. So even without those whales and backers price will still go up to the last minute before the fork. Who doesn't want a free income from that fork? $7000 might be too high $1400 more on current price but most probably when the fork is about to begin it go somewhere near that amount $6300 - $6500 |
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Crash is possible after investors dumps their money on fork event.Prices will climb till 6000$ but later crazy movements will result in losses due to hitted stop loss orders. I hold my bitcoins till next year and long term holders always win at the end.
I disagree with this, After october 25th fork another Fork might happen on November so if the fork is successful then bitcoin holders will keep it until the next fork. and with the increasing user it may not affect its price. Indeed price may go low but on a long term trade $5400 is still a small price for bitcoin. Forks are just around the corner once the 25th is successful demand for the coin will go high because of the November fork. And also most of the FUD that was encountered was successfully exceeded by the coin. And this FUD was not yet known by most of the people so if they were able to hear it and thought of it as a n advantage for the coin demand will definitely go higher for the coming weeks. Expect for higher prices on the coming months for Bitcoin,. |
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Governments have different reasons why they are banning bitcoin on their country. Here are my thoughts.
Nepal banned using bitcoin and even declared it illegal to own one because they say it is hard to monitor the coin and can be used on illegal transaction. Which may be true at some point but Nepal is already one of the most corrupt country, are they seeing Bitcoin as a competition?
China banned the trade of Bitcoin outside their country. If Chinese can still trade from each other within their country with the coin that means it is not illegal. This step that their government did is very strategic, China has a lot of mining farm how many Bitcoin can they mine each day plus the coin that they had before the ban and if this coin can only be traded within their country for several years what percentage of the circulating supply will be on their possession.
And because of this ban Bitcoin price will go high they were able to control the number of coins available to other nationalities. And when the price is high they will remove that ban and release their coin. How big will they earn from it? f they really don't support the coin they should ban manufacturing the Asic miners on their country.
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Even if the stats and future predictions looks very good for Bitcoin, we should also be realistic and not expect to see a Bitcoin price of $1 000 000 per bitcoin very soon. Let's just take the growth from last year : 2016 - 2017 ===> $3000 increase {more or less and this was pretty impressive} Let's predict the next 5 years, with a $3000 increase/growth per year : 2017 - 2018 ==> $ 9 000 2018 - 2019 ==> $12 000 2019 - 2020 ==> $15 000 2020 - 2021 ==> $18 000 2021 - 2022 ==> $21 000 So this is nowhere close to $1 000 000 per bitcoin... right.  There are many factor to determine the rate of increasing the price, What you just used was the difference from last year's price to this year's. Since Bitcoin is not used as a currency yet and can be more considered for now as an asset that can be traded to a fiat currency we also need to consider the increase on the number of people who is into it. So if last year there are only 10 million people who is into bitcoin and this year its 15 million that caused an increase of 800% on price per coin. (~$639. to $5492) then how will the price be when 20 million people accepts the coin, when 25 million, 30 million. It is really hard to determine the coin's maximum potential because of its anonymity no one knows if how many different individual owns the 16 million + coins. |
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I sold my bitcoin today. I think the price jumped too much too fast. My opinion is that it will drop below 5,000 soon and in that case I will buy back again because i expect bitcoin to increase significantly in the long term.
What do you think??
That was a big gamble. If you would review the graph the price keeps on going up and when there a dive back in September this was when the JP Morgan and China issues happened but after that the price soared high and will definitely go higher in the next days. Most people are hoarding the coin for the upcoming fork and another fork might happen by November so expect them to hold it until then. I would suggest if the price difference from today and the price when you sold it is not that high better buy a coin again and expect a price of $6000-$7000 by December. |
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Hey guys, my name is Thamos and I'm fairly new to Bitcoin. I've been reading up on Bitcoin for like, only, 2/3 weeks now. I was already planning on investing but I wanted to have a bit more knowledge about it all. I guess now I do.
I was just wondering, seeing how Bitcoin's price has increased by a lot over the last couple days, when would be best for me to hop in the pool. Should I buy now or should I wait till the price drops (even if it's only by a small percentage)?
I'm just looking for some advice. Thanks a lot!
First of all hello and welcome to bitcoin talk community. Now lets talk about investing. I'd like to suggest you should invest now. Because the price is increasing and maybe it increase more in December. I heard it will reach up to 10K plus or maybe more. So don't waste your time invest now . Don't worry about the high price of bitcoin now. People used to say 4000$ is a high price and now they know it was not high because we are near 5600$. Similarly in future , bitcoin price will rise even more. Indeed it is hard to determine if how low will the price go but rest assured it will go higher than the current price. What you may do is set an amount that you are willing to buy the coin if the price goes near it then buy the coin, but again the price might go higher than today's price and you might regret that you didn't buy the coin right away. |
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Many companies of this kind will be established in the future. The use of cryptocurrency as a medium on online gambling bypass some of the law which regulates use of fiat. This is one of the best thing that crypto currency has. This is just the start of the revolution for online gambling and expect more countries to release this kind of betting platform. |
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Hello,
I'm wondering how can you trade with bit/altcoins when you're under 18 years old. I currently need to transfer some ethereum coins (earned by mining) to bitcoin and eventually to real cash. I know that you can use LocalBitcoins.com, however you can only trade bitcoin here. How about altcoins?
Thanks.
Since your coins are from mining and you are less than 18 if the exchanges on your country prohibits you from converting it what you can do is ask your parents to have it converted or a relative to do it for you. I assume that your parents are aware that you are mining and the source of your coins are legitimate so there will be no problem for that one. |
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you will never get your money back,forget about it and move on
you can report the scammers to the police,just to try and make this world a better place
do not expect anything to come out of this,there will be nothing bad for you,you didn't commit any crime
as long as trading bitcoins is not illegal there
As far as I know trading Bitcoins is not illegal anywhere in the European Union. And you can't say that he will never get his money back. The chances are low, but if he goes to the cops, then there is at least 20%-30% chance that he will get his coins back. Maybe what he's asking is, if it's legal for a foreigner to transact with more than 10 grand. It is clearly a scam seems that you had a deal for 100 grand worth of bitcoin since the cash should be placed inside a bag. 10 grand is just 1 bundle of $100 bills and no need to put it inside a bag. If you really lost a lot of coins and it is legal in Europe for this trade then better get the cops and try to have it resolved. That is a huge amount that you lost. As you said CCTV on the hotel will be useful. Those criminals might victimized other people in the future. |
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Bitcoin is ‘Fast, near Real-Time and Convenient’: Philippines Central Bank Official The Bangko Sentral ng Pilipinas (BSP), the Philippine central bank, published regulations for bitcoin exchanges earlier this year. In a statement at the time, the central bank said it “recognizes that virtual currency systems have the potential to revolutionize delivery of financial services particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both domestic and international, and may further support financial inclusion.” https://www.cryptocoinsnews.com/bitcoin-fast-near-real-time-convenient-philippines-central-bank-official/ |
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