It surely can repeat again and this increase is very unfamiliar for us but it involves manipulations from whales, It is pretty obvious how we reach more than the $10,000 value and then skyrocket up to the $17,000, and right now I really think we are experiencing a resistance and when the buying frenzy can no longer be sustain again, an avalanche may triggered because of panic selling, Or it can become the other way around because people now learned from past mistakes.
Why do you think that will be panic selling? A lot of bitcoin users use it as an asset for savings. Even at lower prices they will still keep their coins not sell them cheap. After six months or a year the price will increase and they will return their losses. The price of bitcoin is doomed to constant growth because the number of coins is limited. |
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With the same success it is possible to steal Satoshi and with active wallets. Bitcoin is private property and nobody should be interested in an active account or not. On the other hand I don't know what effect it can have on bitcoin ever decreasing number of coins in circulation. Theoretically, someone always loses access to their coins. It is possible that unclaimed coins for 25 years can be transferred to the community Foundation but the first requirement is returned to the owner.
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It is beneficial to all only if the company earns money in bitcoins. If trade only for Fiat I don't see any sense in such payment. But if such cases will become more we will have the constant expansion of the possibilities of using bitcoin. The popularity of bitcoin will rise and this will push the price up. In our eyes, the emerging alternative economy.
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The use of bitcoins has no age limit. But many wallets or accounts on the exchanges require verification. You need to provide scans of documents. This is the only problem. If you provide other people's documents problems you will have. But I'm not sure that anybody except close relatives you will be able to help. After all, we can talk about large sums which will have to pay taxes.
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Bitcoin is not like the classic bubble. Bitcoin has real security of their assets. Part of the capitalization of the bitcoin is inflated by speculators capital, but there are real production which is financed through investments in bitcoin. Look at the stock price of AMD and NVIDIA. All who produce components for equipment for the miners in the black. Electricity producers, too, are not offended.
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90% of all bitcoin owners have less than 0.1 BTC each
the fees to transfer $100 worth of BTC cost around $25. that is outrageous
This is a common sentiment of every bitcoin user, even the ones that has a lot of bitcoins. This is because a lot of users still do make small transactions even if they are extremely bitcoin rich. For example, if they want to buy a VPN subscription with bitcoins for themselves then it would cost like $100 per year then another, like you said, $25 for the miner's fee. Probably the segwit2x people are on to something. Likely another talks about another fork will occur due to this. Such a high price per transaction forces the user to make small transactions. I personally have long put the coins in large amounts on the exchange and from there deduce the Fiat to a Bank card. Funny but it turns out that bitcoin itself forces users to use Fiat. It contradicts the idea of creation of bitcoins. |
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Again we hear need time. It seems to me that this process needs to be speeded up. We are constantly faced with the problem of verifying transactions. Last week it came to 200000 transactions. That's a lot. Bitcoin can be left out in the competition with their fragments. It is necessary to understand to developers.
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Lately a lot of talk about futures. But I think that this hype will pass and everything will be as it is now. Bitcoin always shows amazing resistance to all external stimuli. If futures are not user-friendly they won't use them and the topic will be closed. I am sure that bitcoin will remain as is and the sale will take place at existing exchanges.
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Banks are the ones that will give you consumer protection but bitcoin will not. Everything that will happen to your bitcoin is your own responsiblity and no one controls it so let me remind you again that it is decentralized at the first place.
Yes I agree with your opinion. Bitcoin is our own responsibility. The Bank will only provide protection to consumers rather than on bitcoin. Let say if government already legalize bitcoin, it means that they have protect bitcoin usage but the other disadvantage is bitcoin is not consider as decentralized currency anymore as they also apply tax on them. In other side ,it's prevent scam attempt as we know bitcoin = criminal money Bitcoin is not generally a criminal money but somehow can be considered to be as just like that because of its decentralized feature and anonymity which is a great tool to make crimes. Bitcoin cant be regulated which means it cant be controlled by anybody and talking about consumer protection its not possible since once bitcoin have been transferred theres no chance on making reversion of transactions. It can be regulated but only possible on those services which have being controlled by laws. It seems to me that you exaggerate the anonymity of bitcoin. But it doesn't matter. Perhaps in the future the bitcoin community comes to what you need to create the transit server the type of arbitrator that will linger coins before you confirm the transaction with both parties. Then we can return the payment. |
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I don't understand such issues. Why his hands to kill bitcoin? This will provoke inflation. Additionally, you cannot change the rules during the game. It was announced initially that the number of coins will be only 21 million. People invest in bitcoin because they know that this asset is limited and the demand for coins will continue to grow.
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It seems to me that any altcoins can't come close to bitcoin. All of them are created only to service the bitcoin. There are only a few coins which pretend to bitcoin. This is not due to force altcoins. This is due to the internal contradictions in the bitcoin community. Miners, developers and users have different interests. If they do not learn to negotiate bitcoin can take their positions.
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This situation with the price of the transaction can not last long. It needs to be addressed. I liked the idea segwit2x but the miners decided otherwise and began to blackmail the bitcoin community. Now there is news that came up with a new system "lightning" which will speed up the time of confirmation of the transaction. Perhaps in the near future the problem will be solved and with the price of small transactions.
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Again we are talking about medium to large transactions. I am sure that a great development of the use of bitcoin in trade can only give small and medium-sized transactions. Therefore, the price should be reduced. The speed of transaction should be only a few seconds. In its properties transaction bitcoin should not be different from banking.
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Crypto still go down to fiat so I think government will oblige their local exchanges to tax every conversion and withdrawal that is made by the owner of btc and crypto.
I don't know what it will give to the government. It seems to me that it makes no sense to require exchanges to report all exchange transactions and findings. On the exchange there are people from different countries and the taxes they must pay in their countries. States enough to control the flow of money to Bank accounts in order to collect all their citizens taxes. |
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I never heard of this one that bitcoins are forbidden to transact in Islam. I don't see any wrong about using it but maybe Muslims might know how it's being a forbidden one or if it's just only a bluff but if ever it is really forbidden then why I see some Muslim Bitcoin enthusiast in the forum and in bitcoin community. But I don't think this statement is likely to be true.
It seems to me that bitcoin is now more common in countries with high growth, but low income among the population. Islamic countries are very specific. Those who live in poor areas do not have access to the Internet and they have no access to banking services. Those who live in affluent areas are of little interest to low income from bitcoin. To each his own. |
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Marijuana is consider as illegal in some countries that why user of marijuana pay crypto currency so that they can be anonymous, they is the down side of crypto currency because it is being used for illegal things with having the hassle of an upfront payment.
Now in the chain of bitcoin are about 200 thousand of unconfirmed transactions. If all addicts will use to buy drugs bitcoin then maybe the world would be one problem less. It will be easier to quit drugs than to wait for the goods. Selling drugs for bitcoins is fake which is distributed by the bankers. |
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Now there is still the problem of speed confirm bitcoin transaction. It's a little slow development. Next year I am sure that this problem will be solved. Bitcoin will have the opportunity to apply to trade and this will make it more popular. I do not believe that bitcoin will fall. Bitcoin is just starting his life.
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How can this stupid bill be implemented? Unless the user is either converting the crypto to fiat cash, or purchasing something using it, the authorities are never going to find out about his holdings. And even if the coins needs to be converted to fiat, the user can travel to another country to do that.
In the legislation of any country has such laws. At first glance they seem absurd but sometimes they become a reason to prosecute people. Then charges will be changed but it will be then. I doubt I'll be able to trade bitcoins and we will become inaccessible to the tax legislation. |
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This situation in any forum. Easier to ask your question than to look for half a day on the forum the same question. Most of the questions asked by newcomers. He must know that this question has already been asked? It seems to me that OP has a very high opinion of himself. Who gave you the right to judge others? Are you a judge? Don't like don't answer.
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Thanks everyone for your contributions to the subject, but so far I have not recieved any clear answer to why the bitcoin price would be affected by bitcoin futures trading (that will be settled in fiat).
Sure, the launch of bitcoin futures is good news to bitcoin, but I've seen journalists speculating in traders shorting bitcoin etc and what effect that would have on the bitcoin price.
Why would it have any effect at all?
Ok, so you don't understand why something that is being traded in fiat would have any effect in bitcoin themselves, right? I'm not an expert myself in futures but this guy did a pretty good analysis: https://masterthecrypto.com/will-bitcoin-futures-affect-bitcoin-prices/It seems that, for example, for gold it didn't work too well short term but eventually was meaningless so you might be right. Bitcoin might not be affected at all by it. However because bitcoin is purely speculative right now, I'm sure it will drive the price even higher, hard to tell right now because it's already climbing hard anyways. I did not understand from this analysis. Why do you think that someone will use the services of the Chicago stock Exchange. This analyst of the last century. Now there are many exchanges which will continue to trade in real time. I think the price of bitcoin will remain volatile. On the Chicago stock exchange will not be simple clients wishing to sell or buy bitcoin. |
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