not to worry... bullish trend is coming. because new bitcoin feature will be implementend. "...that it may become impossible to seize coins from websites in the future. Such a feature could certainly prevent economic catastrophes like Mt. Gox. It also means the current US Marshals bitcoin auction may be the last one of its kind in history...." https://www.cryptocoinsnews.com/checklocktimeverify-means-bitcoin-escrow-refunds-fork/did you say good news ? let the dumps start again  .... otherwise this is really huge (especialy escrow and refunds) if they can make it happen. Edit: after thinking more about it, it seems that they are trying to edit and change the core protocol... at the end Bitcoin wont be any different from Paypal or any other existing electronic payment system, because later they will try to alter the blockchain when it gets really big that the end user cant maintain. ... because you have any clue about the "core protocol"? |
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Wrong. Bitcoin is a vastly more efficient value information technology than any of the current monetary technologies. The cost benefits to global commerce from increased efficiencies in value transfer and storage will be reflected equally in the final long run valuation of bitcoins. It is patently obvious to any impartial, rational, intelligent observer that it is far from a zerosum game. It is analogous to pointing at a backhoe digging ditches 100's of times faster than a team of guys working with shovels and claiming "back hoes are a zero-sum game, who can win if we all use backhoes instead of shovels?". Hey, go and buy up all those shovels before they go obsolete, they might have some numismatic value one day  |
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This whole year Bitcoiners were telling me daily that the dollar is about to collapse. Instead the dollar is getting stronger by the day.
It's even not certain that a dollar collapse would necessarily boost Bitcoin. There are some assumptions and some hints, but it's not that certain as some people say. Regardless of whether it does or doesn't, if the dollar collapses everyone in the west is going to be a lot worse of than before..... no matter how many btc they own temporarily only. The best thing for the global economy right now is if the US dollar were to become part of a bad distant memory of what it was like being consigned to a fiat hell controlled by a comparatively tiny group of meglomaniacal psychopaths. |
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bigger fool == Bitcoin is a Ponzi bubble
There is nothing guaranteeing your fiat dollars, in fact they are almost guaranteed to depreciate due to incessant monetary inflation. All circulating money derives value from social psychology, i.e. is in a semi-permanent state of bubble. Choose your bubbles poison wisely.
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Political ideologies or usefulness is not required to drive the next adoption phase. All we need is greed. All we need is for Bitcoin to get close to ATH again and we are off to the races. ... thus the powerful forces now aligning against any expansion in future Bitcoin price expectations. |
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All of financial history is littered with powerful demonstrations of how capital seeks the best form of money necessary to route around friction, capital controls, bad laws, regulatory overreach and capture. The crescendo of complexity of all these friction-inducing factors building in the current financial system makes Bitcoin inevitable. In fact, the harder they try to stop it the more desirable it will become to the market.
In the same way that they are trying to outlaw privacy on your computing devices, such that any sane individual becomes a criminal, then an effective outlawing of financial privacy will make all users of good money criminals. At that point, nobody has anything to lose by disregarding the financial regulations and bitcoin is the most frictionless way to route around a damaged, overly-complex failing system, to date.
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there's no way any of the ETF's will allow settlement for retail investors with the underlying, be it gold or BTC.
This is why any retails who buy a Bitcoin ETF are fools. All they'll accomplish is give Wall Street their money so somebody else can have bitcoins.Is that what you mean? Not everyone has a lot of cash to buy bitcoins. Instead they have funds locked into tax shelters and a Bitcoin ETF might be a good option. 1. Set up a Self-Directed IRA 2. Have the IRA transfer funds to an LLC of which you are the manager 3. Buy bitcoins (take possession on behalf of the LLC) 4. Store securely via your preferred method. EDIT: For clarification, the IRA would invest in the LLC by buying all the shares/units. The LLC then, in turn, invests in bitcoin and takes possession. We need a s/ware template that can do this all electronically out of the box, like a digital asset trust. Maybe even issue the shares on the blockhain. |
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That's because the price is denominated in, and raised by, fiat currency. You either have to fractionally fake users' fiat balances on your exchanges, or find more and more money to reach buywalls in order for it to rise. Those dollar bills/euro's/RMB's aren't %-based, and they're not infinite, except to the banks and governments, who generally have no need to bother with cryptocurrency, when they already hold the power of money creation. That means looking at old patterns that happened at price & adoption / manipulation levels orders of magnitude lower than now, and expecting the same % gains in 'the next bubble', is a logical fallacy - money functions according to a linear, geometric basis - it is not exponential, not %-based.. !!!
And that, is why it's so much harder to go from $300-700 to $2500-7500, than it is to reach 10x from $116. ... all this is predicated on constant supply. Money markets don't work like that. The fiat value is exactly that, whatever people value it at and has nothing to do with how much fiat volume is "coming in" to the market. If the price expectation is that it will go to 100k or 1million and that is widely (>95%) expected then that is where it will go because the vast majority will refuse to sell/trade for any value different from the majority. Same thing if everybody (>95%) woke up tomorrow and decided Argentinian pesos are worthless, noone will trade them for anything much of value. Money markets are generally a game of psychology, expectations, lies, manipulations, jaw-boning, "forward guidance" .... Bitcoin has the rare property in modern money markets of a solid floor, a lower bound backed with mining POW grounded in real physical effort, expenditure of energy and other resources that cannot be faked. |
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Bitcoin can be used for micro-transactions. Not exactly a mind-blowing revelation. Looks like someone needed a bunch of filler to write up an article, because the only "news" is this part: I reached out to James Poole on twatter after seeing his demo video, and he talked about building a platform, MicroTrx, for various applications to use as a micropayment gateway. So, just some guy who wants to create a centralized server platform for microtransactions. How cutely anachronistic. And this is "news" to these people. I think you are being hasty ... it is worth a look and it could even be something big. It is the first working implementation of "micropayment channels" (awfully non-descriptive) that use some of the scripting functions of bitcoin for contracts. It demonstrates how off-chain transactions can be "hooked" into the blockchain to leverage blockchain level security. Note trustless server ... James has done some great work here imho. (NB: I don't know anything about cryptocoinnews quality) |
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The exact annualised inflation rate jumps around every day, depending on how many bitcoins were mined in the last 24 hours.
It is around 10-14% currently, but will halve to around 5% at block height 420,000.
Say, 12%. It's not much, but unfortunately if works with "multiplicator": Since only about 20% of bitcoins are in circulation (the rest is on hodl), effect of new coins is 5 times stronger. I.e. this 12% inflation affects prices with the strength of 60% one. That is we need 60% annual user base growth just to maintain current price. not quite, a portion of the new coins will going directly into the "hodl" category so it is less than your 60% ... and it is not a 60% increase in total number of users but total new funds by users to maintain current price. |
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mmitech if you already sold and you believe Bitcoin is doomed, and that we are all complete fools... what are you still doing here?
It's not a rhetorical question, I would honestly like to know.
nope, Bitcoin is not doomed yet, I will re-buy between 150-200, I am a trader and this is what I do, the question is: you Bitcoin cultist holders have the whole fucking forum, we traders have only this sub-forum, I would really appreciate it if you go troll somewhere else while we discuss our things here. don't fucking tell me to hold and what a bright future Bitcoin has, I know fucking good when I have to hold. you should be holding right now hotshot trader ... edit: bad's not going anywhere, buy some business insurance. |
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And classical education makes someone understand markets better? I better ask my uni for my money back.
no, it doesn't, but also being a software engineer prevent you from being a cultist to any technology, if you don't have a healthy skepticism about the software you wont be able to innovate nor maintain it.... my understanding is that this guy invested with all he can and even with his emotions... ... and you are want to sit here in judgement, preaching to all us "heathens" to save us from our wicked ways because ... ? ... or most likely, you went short with leverage and are totally invested on this crashing so you're going to desperately shill it as low as it will go right? I think the queue over at the Fed lining up to lick Paul Krugman's balls still has places open ... |
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The exact annualised inflation rate jumps around every day, depending on how many bitcoins were mined in the last 24 hours.
It is around 10-14% currently, but will halve to around 5% at block height 420,000.
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The elephant in the room: consumers have almost no incentive to use bitcoin.
The common talking points are:
Low fees - The consumers pay no fees while using a credit card. They actually get rewards points back.
Privacy - As evidenced by a recent post, bitcoin offers little privacy out of the box. You need to go through hoops to achieve privacy. People who care enough to go through these hoops have better alternatives (like cash!), which are more foolproof.
Being your own bank - Few people want to take the risks associated with being a bank. It is more of a headache than a plus.
No consumer protection - No need to elaborate.
Distrust of the monetary policy - The volatility of bitcoin makes it useless as a store of value, and there are better and more reliable options to store your wealth. Few people buy into the tinfoil-hattery that the USD is about to crash.
There is simply no pragmatic answer to "Why should I buy bitcoin?"
he/they cut/paste posting the same shit on r/bitcoin so I'm calling troll on this guy (or team?) seems like last time they used the cult meme talking point ... this time around it is "bitcoin has no perceptible benefits" and "early adopters are MLM (multi-level marketing)" |
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Honeybadger is bleeding to death. What's next guys? we hit the cost of production floor, maybe undershoot by5-10%, coins become cheaper to buy than mine, some hashrate goes offline ... then the next super cycle can begin again. That's what next you blind old fool |
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Wind farm in Alaska and BTC mining could be a good combination.
Or Antarctica, in the polar vortex zone. |
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Nobody wants to jump on our sinking ship   You should probably get that myopia checked out, it might be costing you some serious large long term benefits. Nice lines  Bitcoin is $394 on BTC-e ... quick, you better close out your shorts then. |
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Nobody wants to jump on our sinking ship You should probably get that myopia checked out, it might be costing you some serious large long term benefits. |
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