I remember several years ago similar poll was made and i was surprised most of the users answered NO.
In case your answer is still NO, I'd like to know what is your main reason not to own one bitcoin?
Happy holidays!
edit: grammar
My answer still no i never own 1 bitcoin even im almost a year on this forum and taking it to gambling if you had business that are connected to bitcoin then those businessman is easily can get over 1 bitcoin like you , you are donator and im really amaze just wasting bitcoin for the position, I always want risking my money and withdraw it if grown. There's nothing to be ashamed about if you still didn't manage to get your own 1 BTC. Some people come from really poor countries, in their countries 900 USD (current price) is insanely high to risk on a high risk asset like BTC. Slowly you will reach 1 BTC eventually. Donators are usually very early adopters that mined tons of coins back in the day, some people like rpietila have 1000's of BTC because they where lucky to be at the right moment doing the right thing. |
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Hi,
After voting please explain why you voted that!
It's probably the only way to become a millionaire in the (relatively) short term. If you have a better option to put 100k at right now I would like to hear it, because no matter how much I luck around, all I see is stupid startups, ICO scams, falling stocks, random alts... what can give you realistically the 900% gains needed to become a millionaire from a 100k investment other than bitcoin? Sure we will see a random alt deliver higher gains but it's a lottery, no alt has fundamentals as good as bitcoin. |
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If you look at the all time graph, the mean line is higher than it was during the 2013 peak, this means the volume and marketcap is way healthy. The angle of ascension in 2013 was insanely steep, and so was the fall, this rise to 1000+ was way slower, which means the correction will be way smoother. 800$ may be the new floor, maybe 700$, who cares. Long term = rich as fuck.
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It depends, if you are here for the long term then it's appropiate. Yes we may see lower prices, but who cares, im here for the long term (10+ years) so all I care about is to keep buying more during the dips. You are not going to get any other way, unfortunately we must wait 10 years because we missed the initial boat (when BTC was 1 to double digits).
The other way is buying the right altcoin that will pump with good volume, but that is a lottery.
Good for you to collect everything for the long term and hope you will be making a really huge amount of money if the coin is still going strong then the possibility of making a fortune is a real possibility.What i would do in these circumstances is to book my profits with every rise and get back later because bitcoin will give you the opportunity to make some profit out of it. But by doing this you risk lossing your position. A lot of people tried to play the market in august and the dip was not what they expected, they weren't able to get back on the right time, which means a lot of people lost money there by buying back at a loss. There is money to be made, but you need luck since you don't know hog high a pump will go and you don't know low a dip will go, it's simply not possible to know. |
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Before we attempt to bring massive amounts of people into bitcoin we should add segwit + LN. I don't think the average joe is going to want to use bitcoin the way it is now (is mostly a better gold) because the average joe is clueless and doesn't even has a notion on storing money anywhere but their bank accounts.
Bitcoin will not reach mainstream usage status without segwit+LN, until then bitcoin will stay what it is today (an improved gold that also can be used as a currency, but for the optimal currency usage part we need segwit+LN and there are no other way around this fact).
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I read there is something like a christmas bonus in China, too. Like a "hong bao" (chinese new year gift) from companies to its workers. Does anybody know how high this typically is and when it is handed out? Could it have an effect on the price? Or rather after new year to make good use of the gifts?
Those things are impossible to predict. Maybe the chinese feel like buying the dip back with those bonuses or maybe they just spend it on gifts, who knows. What I have learned over time is that the chinese are very prone to stupid supertitions with numbers, it's like, how come it crashed in 8888 yuans? Too much of a coincidence... they probably panic selled there. The dumbest shit can trigger a panic sell. |
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I just want to spend one Bitcoin today, never have bought anything, always investing, any recomendations, shops, etc?
Probably purse.io, you can find tons of discounts here, I think they use Amazon gifts or something. I can't think of any other places where I would bother spending money on stuff, if you don't have an incentive to use bitcoin over fiat, then save the bitcoin for long term. I feel like im paying with gold when I pay with bitcoin, because most of the time I get no benefit, it would have been the same if I just paid with my credit card, and fiat will go down while bitcoin will go up. |
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-snip-
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Ok... Well thank you both for you answers (especially your detailed one frank1  ) But as a non technician I'm not sure I understood EVERYTHING xD From what I get the idea is not to separate the network in two, it's not a conflictual change but more an agreement on which type of data each side would consider. So it means that if 95% of miners switch to SG the last 5% wouldn't really have a choice but to switch too no? Otherwise they would have nothing but orphans blocks! There is just one thing I'm really not sure of, Carlton Banks you say that the choice "is made when choosing the version of bitcoin you use". But... I never made this choice, I got bitcoin but no idea of which "version" they are! Is it my electrum wallet which chose for me (i.e. by using electrum I'm using a certain version of bitcoin without even knowing)? The remaining 5% can do whatever they want... they can join and signal for activating segwit or not. If they don't, it's just a matter of ego. "I'll die with my firm ideas unchanged" sort of mentality. Pretty stupid since by the time segwit hits like 80% the remaining 20% should start considering that they are wrong. Unfortunately it seems we are stuck at 25%, even tho it seems there is a bit of growth but very slowly. Maybe across the year we can get a higher %. Big segwit denniers like Brian Armstrong have recently changed their position and now they support segwit. We will keep seeing this across the year since without segwit nothing will ever change. |
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Sure, IF bitcoin was being used as a currency, this might be a valid argument--but it still wouldn't have jumped the shark. But it's not a great currency. It's a great investment and a decent store of value. For those two things it matters a hell of a lot less what the network fees are. If you buy stocks, you end up paying a lot more than $0.40 to buy any amount. That's how I see it anyway.
it is a currency and it should be a currency if we want to see higher prices, otherwise get comfortable with more volatility and each year going down to 200 and up again and then back.... bitcoin has never supposed to be an investment only, even satoshi in the white paper calls it digital cash, because it is supposed to be money and if we continue down this path of fighting over paying more fees we are harming bitcoin. Indeed, whitepaper says digital CASH. Bitcoin can NEVER be cash with big blocks, because big blocks centralize the network by making the nodes harder to run, it will eventually end up in a situation where nodes are only run by server farms = bitcoin is dead as a decentralized censorship resistant tool aka cash. Not to mention SegWit adds support for Schnorr sigs and other cash-friendly features. So we have people complaining about lack of block increase and about SegWit, when being pro-big blocks and anti-SegWit is exactly what being anti-cash means. |
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Do you really think it is good time to buy BTC ? It seems inappropriate to me. I think whole crypto market is unstable. Yes, price of BTC may rise a lot in future, even 2 or 3 folds rise may happen. But nothing is certain. Even the price may go down like half of the current price and I think BTC will go south until next year. It is only my idea. Do not take it seriously. If I were you, I would wait cause price will be stable soon. It is actually a bad time to buy BTC , now
It depends, if you are here for the long term then it's appropiate. Yes we may see lower prices, but who cares, im here for the long term (10+ years) so all I care about is to keep buying more during the dips. You are not going to get any other way, unfortunately we must wait 10 years because we missed the initial boat (when BTC was 1 to double digits). The other way is buying the right altcoin that will pump with good volume, but that is a lottery. |
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i dont know what can we do to convince miners to start activating it.
If you feel strongly about SegWit, then you can purchase mining equipment and point it towards mining pools that support SegWit activation (or you could solomine with your blocks indicating support for SegWit activation) You could also "rent" hashpower and point said rented hashpower towards the above type of pools. Im just another broke guy going from month to month, I get enough to pay bills and that's about it, im afraid I can't do shit nothing in the mining circuit, I would have 0 impact and I would be running out of money at the end of the month since I would be investing it on that (on something that is giving me 0 returns). Doesn't seem realistic to me. Im trapped on this bill to bill lifestyle, I can't do nothing for bitcoin other than run a node on my computer, unfortunately. |
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Following the log trend line, what do you predict the price will be in Jan 2017? It looks like you predict about $100k!
I don't buy the whole weaker hands theory. At some point a rally ends, that might well be the case now, it might not be too.
I think we could be seeing a double top, with a fall back to $800 or so afterwards. I hope I am wrong though, I would love to see $1500 sometime soon.
It's impossible to know if this is a double top with another fallback to $800 after potentially touching $1000 again but who wants to gamble their moon tickets to get 20% profit, when down the line you can make 100% by just holding? I don't think shorting bitcoin right now it's worth the risk but it's your money so good look everyone. |
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i dont know what can we do to convince miners to start activating it.
By not relaying new non-segwit blocks and prioritizing segwit blocks all node operators can state their opinion in this case! True, we can run nodes and push miners to activate segwit, but ultimately it all comes down to what the miners will do. If I was a miner and I saw how most people are runnin core nodes, I would feel like a jackass not signaling for segwit. How can I see how many 0.13+ nodes are being run vs sub 0.13+ nodes tho? I only see total Core nodes https://coin.dance/nodes |
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What kind of moron shorts this?  In the past the peaks have always been marked with wildly fluctuating prices. At this time we are not there yet. Hey it's George Soros itself, you are the master of shorting, did you short the last big correction? Im sure a lot of people did a lot of money in this correction, but I have big doubts about the price going anywhere lower than what we have now, maybe a further dip to 700 maximum but why would anyone risk losing your position. I think the shorting it's over, now it's all time to buy and hold for the next mega pump that's inevitably coming soon. |
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Is there potential that the 95% threshold could be reduced at some point? Yes. Point. Because 90% is also a majority. The majority *can* change anything in any consensus at any moment. So if we reach 90% of segwit activation, we could vote that it's not 95% anymore but 90%? wouldn't that piss some people off? I don't get it so I would like to know. Also, has a 95% of a big group of people ever agreed on doing anything? Shouldn't this have been foreseen a long time ago? I think 95% it's too much... but at the same time, it's great to guarantee that the big majority of people want something, but that 5% could be potential trolls, so I think 90% is probably a good enough compromise. Look at this here: http://bitcoin.sipa.be/versions.htmlAs you can see... CSV had 100% at some points... so yes it's possible. I don't know how much things have changed now compared to a couple months ago but I don't see the mining game having changed that much... CSV just was a non controversial update, but apparently some miners don't like segwit for a reason I still don't understand since it only has positives. What does it mean for Bitcoin if Segwit never activates?
It would mean some features can't be implemented also LN will not work as good... im worried about this happening since bitcoin would remain just a better gold and not a global currency, but oh well it's still the best crypto out there with or without segwit, but it still would suck if we cant get segwit, but right now its stuck at 25% ish, i dont know what can we do to convince miners to start activating it. |
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I get a lot of people that tells me, " Bitcoin is a virtual item, how can a digital item be that expensive? " My answer is always the same, " Do you understand Digital scarcity? " I then offer examples like this : •Eve Online Revenant Super Carrier – $9,000. •Echoing Fury Mace from Diablo 3 – $14,000. •Age of Wulin Sword – $16,000. •Ethereal Flames Pink War Dog in Dota 2 – $38,000. •Amsterdam from Second Life – $50,000. •Crystal Palace from Entropia Universe – $330,000. •Club Neverdie in Entropia Universe – $635,000. Source : http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ or a little video, https://www.youtube.com/watch?v=VUNRl3kAATk&t=8m35sNo, we are not crazy, we just understand "Digital scarcity" and we profit from that. Bitcoin will NEVER have more than 21 000 000 coins in circulation, give or take a few million, and THAT makes it rare.  Do the math, and see where this is going.  Exactly, there's people playing 4 figures daily for stupid ass shit like Counter Strike: Global Offensive special weapons, and by special I mean the same damn weapons that are in the default game, but with a changed skin and shit like that. Same goes for Clash Royale (you can see how youtubers make a living with those games opening random items, and spending money on the items and so on). It's insane that people are wasting money on that while being skeptical about Bitcoin. The will never learn but we will laugh we are sitting on 6 figures a coin. |
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Seems like we are recovering quickly from this last shakeout of the weak hands. But why are those periodic with nearly exact time intervals?
Did you try to do the same thing with the all time graph? I just did and the parabola fits in perfectly as well... that is very revealing. If you start drawing the parabolic trajectory at 2 dollars, you'll see the current growth fits in within the line. I don't know what this means but unless something changes, we are still experiencing parabolic growth, in practice bitcoin's uptrend never stopped. |
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that is mostly FUD in my opinion. and China government has never shown any interest against bitcoin in the past 8 years and if you believe China is holding majority if bitcoins in circulation that means they are rich and rich people will do anything to change the government opinion if they decide to do anything against bitcoin even if it means buying the government.
The question is not wether China's government banning bitcoin is FUD or isn't but: what would happen if China went for a full blown ban. Let's just imagine that happens... what would happen to the price? My immediate intuition tells me it would insta dump. So how do we protect from that potential situation? I think it may eventually happen. Sure, China can put KYC laws on exchanges, but what will happen once we have decentralized exchanges that work thanks to the lightning network? most people will use those to avoid paying any taxes, or maybe not since I cant help of ways to move relevant amount of moneys off the banking system without gov noticing.... thought call. |
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The point of openbazaar is not in using bitcoin. The point is a p2p marketplace which is not controled by no authority and does not have no middlemen between buyer and seller. At least, this is what OB creators claim. Bitcoin is just a form of payment which allows automated escrow. OB success will depend on whether people really need such a decentralized marketplace or are they happy enough with ebay.
I don't think nobody is going to need anything more than ebay unless they want to buy drugs or avoid taxes, other than that, why would you use OpenBazzar I ask? If you get paid in bitcoin, maybe you feel tempted to buy something, but as some pointed out... nobody is going to bother to convert fiat into bitcoin paying the exchange fees and waiting for the transactions to happen and so on, just to do the exactly same thing you could have done with regular fiat. Maybe in the future it will come handy, right now is just an experiment, or at least that is the case for developed countries, in other countries with no access to ebay it could be a big hit. |
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Probably the solution would be to store the coins in the multiple different wallets. The worst decision would be to keep bitcoins just in one place. And not to use online wallets. But I guess I will never have such big amount of bitcoins, although I want to, so I will be not having such problems. if you select a trusted wallet for yourself and keep your money there. although blockchain, is a secured and trusted wallet but still if you keep your money in different wallets and not select a single one then it will be really good for you. through this way you can secure more your bitcoins. you are right, blockchain wallet is one of the trusted bitcoin web wallet and it is indeed that keeping our coin in to different wallets especially if we are owning a huge amount of bitcoin could be good but I think, to be secured it is much better to use a cold storage whenever you are going to store a large number of bitcoin . I think it is always depends on us how we are secured our bitcoin.. well for me i can say electrum is the best to stay our coins since it is a 2nd ranking from bitcoin-qt and electrum is a lite version of bitcoin-qt.. this is a good choice and you can secured your wallet just to increase your phasprase and always backup your electrum wallet files and private keys.. and i think always protect your computer with anti virus like kaspersky that can help you protect your wallet or any online thieves. 100 bitcoins is a lot of money. Im sure someone trusting bitcoin that much wouldn't have a big problem downlaoding bitocin core and running a full node locally to guarantee that they are validating transactions correctly aren't they? I mean i dont get the people that invest so much money on bitcoin and can't even take the time to download the full blockchain. It's still only 100 GB, pretty sure if you are holding 100 BTC you can have a hard drive to host the blockchain. Please let's not be lazy with this and run as many bitcoin core nodes as possible, this helps everyone invested in bitcoin. Leave electrum for smaller amounts imo. |
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