I think, bitcoin prices in 2016 will decrease due to the emergence of new coins that will exceed bitcoin
in 2016 we will hit 500$ i sure it i hope we can hit something better than a mere 500, which was feasible this year at least in theory if by the end of 2016 we are still at 500 something went utterly wrong, it seems that many cannot still consider how a joke the marketcap of bitcoin is, at the moment... i hope more people interesting to use bitcoin, and we can use bitcoin to pay daily cost like restaurant caffe motel tax etc. bitcoin price is actually not so important that the most important is that it can be used everyday yes, the complete idea of not cashing out bitcoins and spending them while its worth increases fascinates me, I love the fact that you can buy things without telling people who you are, where you live, etc. I've never had problems with transactions too and I've rather benefited from bitcoin, little losses don't matter once you know bitcoin's potential and yours together  |
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i agree, if bitcoin was gaining popularity it would be because of an increase in price and not because the prices dropped.
The only time media takes interest in bitcoin if there is a big spike in bitcoin or something major takes place, like core vs xt, Greece considering bitcoin, etc. They can be rumors, leaked info, whatever, such media attention has result in the price of bitcoin too, because bitcoin market being too sensitive  Honestly, bitcoin gets more negative media than positive  |
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Yes, i believe to that bitcoin will not stop here. this is the first time that the price go down. The bitcoin is spreading every day more and this a clear sign of its success. Its volatility is known it it will be such since the time when it will be well known and it will be mature as a currency. I will not sell my bitcoin.
I just feel the title has been a little too exaggerated Bitcoin must be sold too in order for trade to take place, and by selling of bitcoin, I do not mean cashing out, I just mean trade taking place, bitcoin being spent in exchange of goods and services. If you are investing in bitcoin for a very long term profit, I think you should consider cold storage, you will profit |
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Soon is relative. In terms of fiat years, soon is probably 15-20 years, then it could happen.
Although I dont think the dollar will vanish completely, bitcoin definitely will need atleast 50 years to become a globally used currency. Big changes like that dont happen overnight guys.
yes ofcourse, we are discussing an economic revolution with some people speculating bitcoin could be used by everybody globally. I just can't adapt to such an idea because I see how gold has there for centuries, it still has great value, fiat has been super long and now bringing bitcoin to the fight, it seems bitcoin is just lacking experience. A lot of things can obviously be altered, as times change. |
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More bitcoin is traded in a day than gold despite the widespread knowledge of Gold.
That is not factually correct. Some 20 tonnes of gold is being traded on an average day, and it is worth around $700 million. On the other hand, the daily Bitcoin transaction is measured at around BTC200,000, which is worth some $45 million. This means that worth of gold being traded every day is more than 15 times that of Bitcoin. in that case, I might be wrong because I did not know Gold is traded so much, but I did hear about crude oil being the world's biggest market and the costliest one, with one of the most priciest deals taking place every day. That is the very reason why dollar excels as a currency because of its involvement in buying petroleum, making it a petrodollar. correct? |
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I've made a lot of money by gambling and maintained it by creating discipline in my life, I see so many people rant here about how gambling is negative because that is how it has always been projected to them by the world, most of the people who preach not to gamble have never even tried it in their entire life, it is nothing illegal as long as you are not directly interfering with the game.
You are among the lucky 1% of the gamblers, who have actually profited from gambling. But remember that the remaining 99% has lost their money as a result of it. Gambling is quite addictive. I personally know a few people, who have lost everything (money, family, friends.etc) due to their addiction towards gambling. I have known people who have used drugs and there might be so many who would be against drugs because they have seen so many people destory their lives for drugs but honestly man, I have LIVED with people who used to take specific drugs and they enhanced their lives with its use because they made creative use of their mind in the state, they didn't get wasted and trip. Everybody has a choice. Y'all should read books on gambling, there are many ways it can discipline your lives too, its just like a sport man. |
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Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.
The government of first world countries would never want their beloved currency to go to waste. They are already acting against it. They can't fully go through with it, however. It's a decentralized currency. The only possible outlet they have is putting place laws and regulation that make it harder to obtain or trade. NYC bitcoin LBC exchanges have pretty much been banned because you need a license (which is hard to obtain) in order to purchase/trade bitcoin. I wouldn't be surprised if more came. First world or third world, governments hate letting go off power. Controlling the money supply is one way of exercising power and they would hate to surrender it. They would always view parallel currencies, including bitcoin, as rivals. I think instead of waging a war, they would do it silently by stealing the technology behind block chain, using it to duplicate their own currency and then ban any other crypt currency, at least that's what I would do if i was a mean evil corporation controlling everything portraying that the power is in the people lying by the idea of democracy. |
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I even know a few people who are young entrepreneurs planning to starting bitcoin based ventures despite the rules and regulations, their lawyer say they would be under protection so its all good. I think bitcoin in India has crazy potential, once there is more knowledge and media coverage about it there, I think it'd be pretty fire  Never trust the lawyers. The laws regarding the usage of crypto-currency in India are very vague. They can be interpreted in many ways. And since the Reserve Bank of India is anti-Bitcoin, I wouldn't risk my investment in Bitcoin, if I was in India. First let them create laws and regulations offering protection for the ventures. why would there be creation of law if there are no ventures asking for it? I think with more adoption between people, such problems can be overcome and such problems cannot be overcome if more people in India would start using bitcoin. I think its weird to expect Indians to use bitcoin without any local companies bitcoin in dealing themselves. Also, if I was them, I'd hire a white dude as a CEO and operate under his name so I don't have to deal with the RBI |
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A $ price does not dictate whether or not bitcoin is dead or not.
As long as two or more people are using bitcoin it is alive.
price going sideways for a while or going downwards
yes, the price of dollar might help in determining how the market trade and demand is, but it is certainly not something which donates what the conclusion of another currency is, especially a digital currency. In a perfect scenario and continuation of the rise of bitcoin, the price and value of 1 bitcoin would always be equal to another bitcoin. 1 BTC= 1 BTC what do you mean? the price and value of 1 bitcoin would always be equal to another bitcoin. 1 BTC= 1 BTC because i only know that the value of bitcoin didn't change and only the price will change. basically I meant that it does not matter how much a bitcoin is worth in any currency, its price would not matter if things go as we imagine them to be. In a perfect world where total bitcoin adoption takes place, there would be very few who would give a care about what a bitcoin's worth would be, because it would be more beneficial to spend that 1 btc than cash it out, there would rather be no need to cash it out  |
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If bitcoin are as unpreditable as you say, you can also only speculate the price of gold, its also an investment too. In terms of electricity, bitcoin could be accessed and controlled through sms service, from any basic phone at any time, any hour. And talking about selling bitcoins, they are sold in exchanges, similar to gold. Nobody will buy Gold from you directly, very rare case of that happening.. So think before you type shit, noob
Pointlessly rude lol, kinda underlines you are likely wrong on this. Gold is traded every high street, every town and every country of the world so far as I know. Maybe its banned some places but the main debate would be what price can you get for the gold. Im just saying most places have jewelary store of some kind or a watch repair and I doubt they turn away a gold sale but if they give a good price is another matter. I guess its fair that most shops no longer recognise or are willing to judge the worth of gold coin or gold anything but someone who retails gold and many places do I think its fair they will trade gold at a push. Its possible to spend gold by proxy on a visa card linked to its spot price that day so thats pretty modern. BTC on the other I'd say if we are talking global is not as widespread as gold. Its probably more accurate in price though and secure though an end user can be tricked into a loss. I agree with the point about mobile phones allowing exchange without mains electricity and I believe this is a major factor in quite a few minor African countries; it can be some other mobile currency not btc in those cases More bitcoin is traded in a day than gold despite the widespread knowledge of Gold. Not many people accept gold, everybody has questions about the authenticity of it and what would be more time efficient? Giving fiat in exchange or offering gold? Gold has failed at a lot of factors which make a currency including divisibility, portability, etc. Oh, and if you think people accept gold as much as you believe they do, here's a video of people NOT accepting a gold bar and rather choosing a CHOCOLATE BAR. The video was conducted in front of an exchange shop, it just displayed how lazy people are for such activities. When I used the word noob, I really meant it. People Choose Free Candy Bar over Free 10 oz Silver Bar (Worth $150) in Experiment: https://www.youtube.com/watch?v=bYhTFz_SGw0 |
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I would never invest in gambling. That is the worst kind of investment. Maybe you will win once but the second time you will lose. So invest your 33 percents you planed to gamble with in something else. Long term investments don't produce large amounts of income but are more safer than the shorter term investments.
I agree with you. Gambling is not even an investment, it's mathematically impossible to profit over the long term. It is but if you bet the right time the right amount, and if you stop, you can come out a winner. Sort of cheating the universe. I've made a lot of money by gambling and maintained it by creating discipline in my life, I see so many people rant here about how gambling is negative because that is how it has always been projected to them by the world, most of the people who preach not to gamble have never even tried it in their entire life, it is nothing illegal as long as you are not directly interfering with the game. |
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This, the US dollar is a global currency due to its reserve currency status, also for the fact that oil is traded in dollars and finally because you can go to some countries and pay with it.
yes, the currency used for buying petroleum is called petrodollar which ensures trade taking place as it is essential and as dollar is used in trade almost everytime such a transaction takes place, its value is increased making it more secure for people. Along with that, other markets and countries also have a role to play which result in US becoming the most widely used currency, making it in a way, the global currency. |
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Bitcoin neither ruined or helped my life. it just sits in my wallet for me to gaze at its beauty.  hopefully someday it'll end up saving my life but i dont think that day is near I think you should invest your time in studying about what cold storage is and how it can help you, if you are interested in bitcoin for it to save your life someday and you are comfortable with the fact that it is not near, I think it might be a pretty cool idea. There are even a lot of new accessories available which perform as a cold storage wallet for bitcoin |
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Isn't Bitcoin already gaining some traction among the Indian tech crowd? Definitely a huge market Yes, the tech crowd is huge. So if it gains traction among the tech crowd, it will be a great success. Some of the tech companies have started experimenting with the blockchain. I even know a few people who are young entrepreneurs planning to starting bitcoin based ventures despite the rules and regulations, their lawyer say they would be under protection so its all good. I think bitcoin in India has crazy potential, once there is more knowledge and media coverage about it there, I think it'd be pretty fire |
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There is no need to invest bitcoins in anything, why to risk your hard earned bitcoins in a potential risky system.
Just send them in stacks of 10 bitcoins (if 10 is too big then do with 1 bitcoin but not less than that) in your cold storage and forget about those(but save the seed and password of your cold storage in a safe place) and after many years you will thank me that i gave you this advice.
pretty sweet advise, then you wouldn't need to worry about the volatility of bitcoin and how price might drop, increase, whatever. |
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To be honest with everybody, when I started with Bitcoin in 2013, it didn't exactly ruin my life but wasted a lot of my time. I spent a lot of time clicking faucets to earn dust. I understand that it was my fault that I did this. However, Bitcoin now helps me.
its okay man, we have all made bad decisions, only your decision costed the biggest asset of yours: time. What are you doing now in order to earn bitcoin, are you active in trade markets or do you plan to do anything with a cryptocurrency venture? I think there is profit in investing in bitcoin related business rather than just bitcoin, I have been certified a good investor and I've been making wise decisions lately i guess |
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Nobody should have lots of bitcoins in the first place. It is too dangerous.
Just buy bitcoins when you need them. So you won't lose any trust or so whatever
The only significant profit I have ever made from bitcoin is when I have held enough coins for them to increase profit and that is the smartest decision I made, infact I averaged out while buying my new coins in order to not suffer through any major loss and also lost any opportunity for major profit, but pretty sure it was a good move because I see the price climbing back up |
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it's definitely good news, but let's not get excited too quickly right now. they are just exploring the possibilities, which for bitcoin is a great achievement. at this point there are far too many negatives. i hope this isn't the last thing we hear from them regarding bitcoin.
not to mention it is only related to one country, until these kind of good news take the rest of the wrold with it, i won't see it as a really good news i mean if my country isn't following this route why should i care? the same for all the others I however think that t does contribute to good press, a country showing support for bitcoin in terms of pension which a lifetime liability, I think it is worth getting happy about. People in Canada do get the best things after all, haha. The reason you should care even if your country isn't following is it proves that adoption is taking place. You will benefit from that, wouldn't you? |
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yeah i also though that, so their government not support that type of business because in bitcoin theres no taxes, but if they not support that business why they let that company build an atm if they know that more people will used bitcoin than their fiat money?
Thats a hard question for me to be answered, and actually I dont know what the government plans behind this. But I think those governments who legalizing it dont consider bitcoin as a threat, or maybe they have known that its useless to ban it, since people would still using it. I think you are talking about the Greece government and I don't think so they have banned bitcoins, and last I heard they were the country which were receiving ATM machines which could cash out bitcoins. Greece has not banned anything, rather paypal has banned Greece. This took place when Greece was going through the bailout phase and the 60 euro bank withdrawal rule took place. |
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I do believe BITCOIN will replace DOLLAR, but I'm not sure how long it could take for this process
how about never? it won't happen so stop dreaming about it. set yourself some realistic goals and focus on that. bitcoin is an alternative to fiat, not a replacement. I agree. I'm not sure if if it would even be a good idea to replace fiat totally but I think and hope it can become somewhat of an alternative payment system or at least a currency you can use all around the world. It already seems like a multi-national currency as its all based on math and numbers and whatever language you speak is irrelevant so that could appeal to people around the world. I don't think fiat should be eleminated but rather the use of bitcoin could use more promotion. Talking about your argument regarding 'at least a currency you can use all around the world'. Bitcoin can already be accessed and used worldwide, the only reason why it fairly isn't happening as we wish is lack of adoption because lack of knowledge. |
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