In a couple of decades gold will lose its scarcity due to asteroid mining and Bitcoin will become the new global standard store of value. There, I said it.
Asteroid mining is impractical. There are many challenges. First of all, only very small amounts of gold is present in these asteroids, so it will take a lot of effort and time to extract the metal. And secondly, space missions are extremely expensive. You may spend $100 million in conducting one single space mission to the asteroids, and in return you will get $1,000 worth of gold. Like I said... impractical with current technologies. In a couple of decades, who knows. |
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For some of these early ASIC miners, there have been only 1 or 2 batches of them, i.e. hundreds, not even thousands. If Bitcoin is still a thing in twenty-something years, they could be worth about as much as an Apple I is today. So, I keep my Saturn in the basement for future museum use... and educational purposes  Ha! There I was thinking I'm the only one. It really does feel like owning a piece of history  |
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Don't buy BTC on this forum. Never buy BTC via PayPal. Try one of the established exchanges such as Kraken, Bitstamp or Bitcoin.de. Coinbase and Localbitcoins are also valid options.
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none of them because none are regulated and all have the same risk of getting hacked or saying "we were hacked".
if i want to rank them, i would do this:
1. bittrex because it is less crowded and doesn't go down like polo
2. polo because it is the biggest out there.
- the other one i have never heard of!
I've heard a lot of people trusting bittrex over polo, why is that? Both appear to be based in the US, bittrex may be older but Polo is AFAIK the bigger one? |
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Cryptocurrencies are better than traditional currencies in the sense that some of them have additional features. Eg. being able to be used as store of value due to their deflationary nature.
They are worse than traditional currencies by being much more volatile which is something you definitely don't want from your day-to-day currency.
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I have certain people that I trust will be able to help my not so Bitcoin literate loved ones.
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Sold a bit for diversification but for the most part I'm a long term hodler as I feel that Bitcoin still hasn't reached its full potential.
This is just another way of facing the issue, instead of putting all your chips on one side of the fence or the other, you try an approach that is in the middle instead of selling all your coins you instead try to still have some bitcoin but sell the rest and convert them in other cryptocurrencies, this move is not going to get the biggest earnings but avoids getting high losses too, so it is a good way to tackle this issue. It may seem like blasphemy, but I actually converted a bit into fiat, not any other cryptos. Most alts seem to be quite overvalued right now and historically they haven't been a good hedge against Bitcoin crashes. Sold a bit for diversification but for the most part I'm a long term hodler as I feel that Bitcoin still hasn't reached its full potential.
How do you feel that?  I've got a magic 8 ball like everyone else  |
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These capsule hotels may look fun and weird, but I don't think they're all that relevant to be honest. I also don't fully believe the Bitcoin / Japan hype as of yet, but since it's a heavily cash-based society it may be quite a good match after all.
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While I'm impressed with the recent Bitcoin growth, I honestly don't think it's overbought right now. Ethereum and its ICO ecosystem on the other hand...
Now, Ethereumr has a great chance to become a competitor to bitcoin. It seems to me that the government of some countries also got involved in the struggle with bitcoin. They will take control of Ethereum and will advertise it Yeah... the thought of governments taking control of Ethereum isn't exactly making it much more attractive in my book. If anything they would probably simply start their own Ethereum blockchains. |
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I'm just curious. What if bitcoin and any other alts market fall and you invested all your money into this. Would you rather do Panic Selling? and How would you compensate all your losses?
If you invest all your money in an asset, you will, by definition, have no way to compensate all your losses. Unless you try to sit it out, which is a risk of itself. So don't get yourself into that situation. You will sleep better, too. |
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Sold a bit for diversification but for the most part I'm a long term hodler as I feel that Bitcoin still hasn't reached its full potential.
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In a couple of decades gold will lose its scarcity due to asteroid mining and Bitcoin will become the new global standard store of value. There, I said it.
Even without asteroid mining, which in my opinion would be economically irrational, gold will lose its value in USD in the future because we have so much gold on the planet that only if people stop using using it as jewelry the price of it will drop dramatically. And this might happen even earlier than in a couple of decades. Economically irrational with current technologies. Computers made economically viable which otherwise would have taken effectively endless human resources. Maybe the same will happen with space travel. The fun thing about the gold price is that if you look at historical price charts it looks eerily familiar to Bitcoin's cycles. Just on a much larger timeframe. |
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That's the fun part. If right now, with current valuations, we still haven't reached the mania phase... then how far will we go? Maybe... this time it's different™
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Bitcoin is a currency and an investment, and PayPal is a payment system and if you look at it logically, they can not compete with each other, because these are two different directions.
Bitcoin is a currency that due to its purely digital nature also acts like a payment system. So while PayPal offers additional services, there's still a huge overlap. |
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bitcoin is 'never stable' is is like a Cat...either preparing to jump up or jump down .....except with btc it is price.....
Yep, it's the calm before the storm. It's kind of like an armistice between buyers and sellers where no one dares to make the first move. |
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In a couple of decades gold will lose its scarcity due to asteroid mining and Bitcoin will become the new global standard store of value. There, I said it.
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What's your odds that we will face much more strong correction for the whole market in a very near future?
Define strong correction. I think a correction towards 70% of Bitcoins current value may be quite likely, but I don't see 2013 level of corrections coming any time soon. Unless that whole UASF / HF / Segwit thing goes awry, that is. |
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While I'm impressed with the recent Bitcoin growth, I honestly don't think it's overbought right now. Ethereum and its ICO ecosystem on the other hand...
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Bitcoin is making Visa/Mastercard obsolete so will kill Paypal too.
I don't think Bitcoin will make credit cards obsolete anytime soon for the fact alone that credit cards give you... credit. Temporarily borrowing money from credit card companies is one of the use cases that Bitcoin doesn't cover. |
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Thanks to everyone for the response. But, lets look it this way, when Bitcoin started, there was no other cryptocurrency to trade with it, yet its value increases. Is there any answer to why its value increases then without trading it with another coin?
There was the dollar (and other governmental currencies) to trade it with. At first people weren't willing to spend much money on a digital currency, so Bitcoin was pretty cheap. Then once more people started getting interested in it, price rose due to the rising demand vs a diminishing supply. |
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