I think Gavin Andersen is generally a good guy and genuinely wants the best for Bitcoin, and when he says bigger blocks are a good idea he genuinely thinks that's the case. Mike Hearn on the other hand, for some reason makes me thing that he has an agenda. In any case I would expect such 2 intelligent individuals to understand how "specialization" in running full nodes is a big mistake.

The miners have said that they will be making a move unless they reach a consensus on the next "Scaling Bitcoin" event which is at around December. So basically if by next month nothing gets done I expect something to happen. I still think it's a bad idea to get the blocksize to be bigger if this means people will have problems running a full node.

There's a lot of anxious people waiting to become millionaires overnight that can't stop looking at the price, meanwhile amazing stuff is happening. The technology gets better and better and we've shaken bank's and institutions heads, they are still trying to wrap their minds around the thing. No doubt we will be very rich as we are still very ahead of the pack but it will take more time than the super early adopters, so sit back and enjoy the ride.

There will be no massive correction again. Due psychological pressure, im sure that we will see a big sell off at around 1K area, because on people's minds it's a round number + the last ATH, this triggers fear. Similarly, the people that sell and the people that aren't in yet, will not wait for an ideal $300/BTC price correction again. The correction will be way smaller than a lot of people think. What im seeing is we are not going to see a big "M" shaped all time graphic. We'll correct from 1K+ish, then keep growing to an higher price that no one can really predict yet. Anything is possible once the 1.2K ATH psychological pressure is broken twice. People will know that Bitcoin can recover from anything. The sky will literally be the limit. The fact we'll break the ATH or get near it + the big advancements in the technology will deliver great things in the future.

The "it" bubble happened in a matter of days. It is simply impossible to try to predict a massive panic buying rally. I am all for it as long as the correction is not bad enough that it leaves us with the same (or worse) floor. I think this will not be teh case anymore because in near 2016 Bitcoin is way more consolidated than it was back then in the dodgy MTGox days. Once we reach 1K again people is not going to wait for 300 to get in hard, the correction will be small.

Well the interesting part to see is at what pouint does one consider fiat to be "done" and Bitcoin replacing it. How would such a transition happen? Would it be subtle and on a very long term and steady decline or we will see a massive crash? Those are the scenarios that we should be considering and then adapting those predictions to our investments. I think that it will be rather gradual and thats why buying and holding BTC, even if not much, it's mandatory to be done steadily on a monthly basis.

It's not losing steam, is yet another correction. Look at Bitstamp and notice the 296 peak, then the 278 correction. Correction happens all the time. Now is when daytraders and whales that didn't buy in yet get nervous and wait for a perfect price, then it shoots up again. Give it like 12 to 48 hours.

If you have enough Bitcoins to buy a house, you should wait until you can buy that house + keep at least half of your BTC in your wallet. Putting all of your BTC on real state wouldn't be a wise investment. It is crucial that every portfolio keeps some decent amount of BTC for at least 10 years to benefit from the future prince increases.

There is a lot more money invested in gold than invested in fiat, so I would say gold. Gold market is bigger than visa and PayPal combined. If we got only a small % of gold-invested money into the Bitcoin ecosystem the price could go to 5K+ easily. Just think about all the trillions of dollars in countries where people would be interested to move their funds overseas but are stuck on there because moving gold is inconvenient as hell. This reason alone puts Bitcoin potential marketcap of hundreds of billions if not more.

Of course, ideally we should aim at covering both, and Lightning Network can help us with that.

I mean, how to know how much people out there has the same amount of BTC that you have in relation to current supply situation? Is there a way to get this done in real time as accurate as possible? For example in a website you put your BTC amount in your wallet which is X, and it says "this % of population in the world owns X amount of BTC in (current date)"

For example, this is taken from rpietila thread:


But with realtime up-to date variables so you get an updated %.

It's been a while since I've sold any Bitcoins and I don't plan to but i've been checking out in LocalBitcoins and i've seen that more and more people require your ID too to get anything done. Also I would be wary of fake sellers that are really agents trying to catch people laundering money, I have heard some stories about that at least in USA.

It's pretty insane. 1 BTC to 5 BTC from a faucet? How much time would you require back then to get that 1 BTC? I just don't believe you would get 1 BTC every day back then on a daily basis from every single faucet because the price was already high enough for this to not be viable. 30 dollars for doing nothing? I don't get it.

I was searching for new Bitcoin related videos in Youtube by ordering them in "upload date" and stumbled upon this:

https://www.youtube.com/watch?v=1tHJ1PgFii0

So yes, there are girls out there that use Bitcoin but it's really rare. Of course this will change in the future, we are still on the very early stages so most people are still tech visionaries and investors.

I think you may mean something else with "volatility". As far as I know Bitcoin is volatile as hell. I think the biggest problem is the fact the marketcap is so small that any amount of panic buying, specially whales panic buying, can drive the price to 1.2K+.

Since im here for a 10+ year stance, I just sit back and enjoy the show while trying to keep stress as low as possible. If im feeling risky, I may play around with some alt that I like and that's about it.

This is the same scenario I had in my head. Actually funny because those are almost the exact prices I imagined. I specially like the part where the bears keep selling Bitcoins at 1K and the then it shoots to the moon. So much pain for bears will be seen that day because they'll think it will crash again to 200 dollars after surpassing 1K.

A guy buying 27 BTC now can be the guy buying a 1 million penthouse in 10 years, but most people will not wait enough to see the fruits of hard work and dedication consistently over time. Thats why very few people make it as long term holders, most will sell before the big price.

That's how any sane investor should be treating Bitcoin. A long term asset with huge amounts of potential of growth overtime. It is still very fun to try to guess current ceilings and so on. Something about speculation is addictive.

The biggest mistake ever in the world of trading is waiting for a perfect price. Just trust yourself after doing some research.

1) Do you think Bitcoin is undervalued?
2) Are you a long term player or short term one?

Answering these 2 would help you a lot in your decision.

I think as Bitcoin becomes bigger the "invest to get it" step will not be as needed because people will see benefits in getting paid for Bitcoin by services. For example I know a lot of coders doing freelance jobs for Bitcoin which allow them to get payments from anywhere in the world while also remaining anonymous and they trust a legit escrow more than paypal.

When this get bigger a real economy will flourish where people work for Bitcoin instead of having to buy it all the time. I know people who own 100% stacks of Bitcoin which are from jobs (and small extra of sig campaigns).

10 Bitcoins is my next goal too. Something magic about looking at your wallet and seeing a 2 figure number. But of course, once I get 10, I will want 20... stay hungry for more Bitcoins.