I am just wondering if the $2000 mark is realistic for the next years... what is you opinion?
My point of view is that your question is realistic and we can go more high of this price but like as you said; that is, "some day" which we don't really know because the international juncture would send the price to skyrocket in a short period of time. As we have seen several times in the recent past, the price rises quickly when there is economic instability affecting several million people for a substantial period that is, when there is increased need for safe haven. Hence, if we see again these conditions in the global environment, then the price of bitcoin will cross higher than you believe. |
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How can this happen if the government will not allow it? More and more countries are adopting laws that make use of cryptocurrency uninteresting. That is why Bitcoin can not replace fiat currency
One of the most interesting aspects about Bitcoin is that it can't be banned. The governments may succeed in banning the conversion of fiat to Bitcoin (and vice versa), but they can't stop the transmission of Bitcoins from one user to another. And they can't prevent someone selling merchandise for Bitcoin. The anonymity of Bitcoin offers protection from governmental harassment. Of course one of the most interesting feature is that anyone can use it everywhere in the world if the government of that country has impose restrictions to buy/sell goods and services. As far as anonymity this is not true because bitcoin in reality is only pseudonymous and not anonymous. So, if someone wish to be anonymous must apply other methods in order to succeed it. |
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absolutely no. usd is the currency of united state of america. every nation is basing their currencies on this united state dollars. so absolutely this united state dollar is more than have value and more known into this bitcoin. bitcoin is not yet officially introduced to other countries while united state dollar is known to almost all countries all over the world.
Oh no. Where did you read something like that "every nation is basing their currencies on this united state dollars." You should claim this before Nixon shock but now your statement is completely wrong. Maybe you must read some definitions about currencies in popular sites like as Investopedia, Wikipedia and so on. Or you are confused and you would like to write about reserve or de facto currency. On the other side I agree that USD is globally known but we must not forget that USD counts more than 120 years, if I am not mistaken, it is paper money so there is no need of internet, pc, smartphone or anything else. For these reasons it is not a fair comparison. |
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Bitcoin Forum > Bitcoin > Bitcoin Discussion > Preview - Re: Will Bitcoin overcome Paypal? ( Re: Will Bitcoin overcome Paypal? ) Someday it will. It is good to be compared to Paypal rather than comparing it to US dollar or paper money. Bitcoin wallets are taking the higher level when it comes to using bitcoin for different transactions. So someday they will somehow overcome it. Although not now, because of illegal things that are happening in deep web but it can be fixed as long as no one will provide.
The way I see it, is difficult for bitcoin to overcome Paypal even though I greatly believe in a world without banks. Paypal is a centralized payment system but is buyer friendly; that is if the seller is a fraudster I will not lose my money because there is the chargeback policy. On the other side if I use bitcoin and seller is not a honor one he can scams me and I will lose my bitcoins because bitcoin payment is irreversible. That means bitcoin is a seller friendly payment system and everybody claims that I can use escrow, I believe that he doesn't ever buy anything from online shop. |
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Sound good! It is good to know that the famous MIT's bookstore is accepting Bitcoin for their services. Hopefully this will spark more interest and get more people to join us.
MIT has been one of the strongholds of Bitcoin for long. There is even a Bitcoin club in MIT. http://bitcoin.mit.edu/about/And the best thing about MIT is that many of the professors are also active supporters of the Bitcoin technology. For example, Professor Devavrat Shah has given many open lectures about the advantages of Bitcoin. We need such supporters to counter negative propaganda against the crypto-currency. MIT club is a little off these days but Yes it is true that they are one of the Strongholds of Bitcoin. Bitcoin needs more supporters like MIT guys. Although Nowadays people are recognizing the value of Bitcoin and using it as a payment gateway in the businesses, it needs more customers to use it.  MIT is always innovative and a very jealous supporter of bitcoin. They have funded the work of three bitcoin developers with $900,000 the previous year http://www.coindesk.com/mit-seed-900k-bitcoin-developer-fund/. As far as it concerns bookstores which accept bitcoin I would like to add the British Columbia's Simon Fraser University (SFU) that its campus bookstore began to accept bitcoin payments from 26th May 2015. I wish and other bookstores especially the big online ones to accept bitcoins in payment options. |
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Italy probably don't have the biggest bitcoin community out there compared to china or USA but this should definitely help bring more users to bitcoin and If they started accepting it , It means that they had demand on it. If only Uber could start accepting BTCitcoin directly as well , that would take us to another new level.
Of course using bitcoin a taxi company will not change the global monetary system. Furthermore, all we know that Italy has not a big bitcoin community compared with China or USA but they have not also the same population. The matter is that merchants and entrepreneurs start to use bitcoin as payment system meaning more and more people will learn about it and not only a bunch of enthusiasts or deep web criminals as sometimes mass media have said. |
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You can't mine Bitcoin at a loss if you're mining with excess electricity.
There are still hardware and infrastructure costs
Of course miners have many expenses as all we know but they are entrepreneurs. And what is the meaning of 'entrepreneur'? According investopedia http://www.investopedia.com/terms/e/entrepreneur.asp like as many other similar sites is a individual who must take risks in order to be rewarded for his idea, good or service. That means if he (miner) believes that its work is not profitable anymore and cannot do anything to keep it viable must change job. |
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Ι could be wrong, but after a short period nothing really will change. Of course, at first, is obvious that trading volumes will be affected until traders find the way to adapt. In the end situation shall return as is nowadays because for Chinese there are no many alternative reliable solutions to transfer abroad their fiat money.
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It's a complicated issue but it seems to me that a trade war between USA and China is not likely to be. Trump said that he wants to change big changes in trading consensus between two countries. Mass media deduced Trump's declarations as trade war. China exports are about one fifth to US market and on the other side China would let yuan to free float and US products will no longer be competitive. At the end both of them will lose more than they expected to gain.
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Strictly speaking I had no idea about these kind of coins till my registration in the forum. Then in a thread someone did an auction about one of these but I thought that were only for collectors. I did not know that they had a private key for real bitcoin under their hologram. I believe that owner of the company had a pretty cool idea. As far as I know they stopped to create anymore. Unfortunately I do not own any of them
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Sorry, let me rephrase - not prevent crime exactly, but prevent violence during criminal transactions.
In a criminal transaction Escrow would be the safest option because if the escrow jets with the money he'll have two criminals after him, not just one!
I am pretty confident when people decide to do a criminal activity they don't use escrow. The same is, when people use fiat money almost all of the times they use only cash and no web banking and debit/credit cards and so on. Moreover, the way I see it bitcoin is only a P2P payment system without the need of third trust entities. No police, no god no more no less. |
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I really cannot understand why anytime there is a rumor or the chinese government decides to do something relates to bitcoin or if a country is not bitcoin friendly or some traders they sell their coins because they want to make profit always the first word is "crush" and not a drop or something similar. How many times bitcoin has crashed like many people claimed, and how many times has recovered? Personally speaking I consider the OP's opinion excessive enough. We must wait and see. |
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I truly believe that Satoshi is not a real person. I consider that is almost impossible a man to be so intelligent and perceptive. Also, I have the view that behind him is hiding a group of people with the view to prepare the world for a monetary system completely different from that we use till now. Certainly, if there is actually this group (2-3 people) and not only a man is extremely difficult to stay until now in the anonymity except if for any reason they are no longer in life and have taken the secret with them. Of course all of these are conspiracy theories but in the end may be in a future moment we will learn the truth.
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Blockchain Web wallet have 11+ millions users. You can check here https://blockchain.info/wallet/#/. Other Web wallets do not have so many users. Regarding hardware wallets - it is very hard to say, how many users install Bitcoin wallet. That is astonishing. I know that there are many people using Bitcoin at present but I can't believe that there have been 11+ millions people come from Blockchain.info. this is new to me. I am really happy to know that the number of people keep increasing every day We can never know the exact number of Bitcoin users since Bitcoin is created for the anonymity and for protecting its user. Yes, may be its amazing but this number does not tell anything about how many people keep bitcoins in blockchain.info. For me, I have only in bc.i two wallets. First one when I started to learn about bitcoin which has no any funds and I don't remember password and seed. Second one which I keep it only because I have a network address and I don't want to change it but I rarely use it. So, this is a fictitious number and maybe would be more useful the bc.i to give us any clue how many of these wallets has bitcoins and last time people had accessed them. |
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In my country there are only two atm machines in the capital city but somebody can buy and other cryptos like as eth, ltc dash and dogecoin. One of them is two way; that is fiat to crypto and vice versa. It is very handy to use it and there is no need anyone to involve with documents about his identity like as when we use the bank for buy/sell the bitcoins. On the other side, imo, it has a high fee and this a deterrent factor where many people they don't prefer it for their transactions.
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I don't know why are you seeking hard ways for your life. As cashing out bitcoins as paying with them directly - you need to pay fees.so I don't understand why just not to
cash out your coins once per week or month or whenever you like and pay with fiat as usual?
I don't agree with your view because any time you convert from bitcoin to fiat and vice versa there are fees. Moreover, there are so many cases where bitcoin is by far the most advantageous way to pay. For example someone wants to buy from online shops which most times are more cheap than brick–and–mortar ones because the latter have generally more expenses. In addition many times is better someone does not hold cash because there is an increased risk of theft. |
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Because they're a huge business with poor customer service from what I understand. Their fees are pretty high at 3.75% when I checked them last and they store your funds very insecurely on a web wallet. What's to like really?
What 3.75% fee? How is their web wallet different from every other online service's web wallet? (Besides the notable fact that they've never been hacked.) What poor customer service? What's not to like? They make it easy to buy bitcoin using a credit card or bank account with only a 1% fee. Don't get me wrong, they aren't perfect. I got hassled with a spurious lockdown on my account last year and they never did fix their mislabeling of my personal checking account as a "business" account (something for which there is no sane reason for them to have done.) But they were at least responsive when I learned my account was locked and I don't see justification for the hostility some people heap on them. I think people just pour hate on Coinbase because it is trying to comply with the necessary financial laws/regulations that some people don't like. If you're a criminal and Coinbase requires your identifying info to open an account, I guess you're not going to like that very much. In the bitcoin world there are mainly two categories of people. The first one they consider it as digital gold as an asset or commodity and they are interested only for trading just as any other fiat currency and those who regard it as a global currency where there is no need to use any trustful third entity such as the banks. If anyone belongs to first one then maybe has not any reason to complain about Coinbase. On the other side if belongs to the latter does not mean he is criminal because he wants to be free to manage his money. If Coinbase's rules are so strict and behaves as a bank of bitcoins there is no reason to stay in bitcoin. I am pretty happy with my national bank and fiat money. |
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--snip--
Essentially I am asking are we attached to an ideology, or is it time to recalibrate our goals...
I am pretty confident that we are not stick to an ideology or vision for the following reasons; Bitcoin is the ideology and the vision; blockchain even a revolutionary and innovative technology is only the "vehicle" in order this vision to become reality. There is no need to redefine our goals because the blockchain is doing what we want to do. No more or less. If we want something different there other solutions but these are different from blockchain. |
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people scare to use bitcoin as currency in real life, because the price of bitcoin is highly volatile, imagine if we buy a smartphone worthed $1000, the buyer want to use bitcoin, and the seller accept it with rate 1bitcoin = $1000.
then in next day bitcoin price drop so much to $600, and the seller lost his $400 (value) if he sell his bitcoin, whereas the seller wants to buy some mobile phones for stock.
This is not the reality but a very rare event which has happened once or twice, if I am not mistaken, in the past. The last years bitcoin is mature enough and after some fluctuations always recovers. On the other side we must accept that from these fluctuations there is not only the risk of loss but the chance of a good profit, right? |
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I really enjoyed your article and I learnt some things about these two concepts I had never read anything about them; that is, about "blockchain oracles" and the "master contracts". Especially the latter one as more complete solution than smart ones will have a practical innovation to enterprise community. |
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