Cashless society is the Credit Card and Debit Card Users right? its a totally different market and would not affect bitcoin society. most of them come from rich and the upper class and capitalized on the new thing like bitcoins to be more richer.
Most people still use cash, the only people that don't use cash are indeed the upper class that always have credit cards loaded with money. All those trust fund kids don't even have cash on their pockets, it's usually a big fat Visa. But even they still use cash sometimes. The rest of the population use cash daily. By cashless society we are talking about all physical cash being removed. The impact would be huge and it would be felt within the entire population spectrum, this event will drive the price of bitcoin to unforeseen highs. |
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Governments can and WILL tax all non moving assets such as land and real state. They will always be able to do so as long as the government is in power. People here implying they could be able to stop it are delusional, you can't avoid it.
Sure, some guy that has ties in royal families and is worth 9 billion is basically a god, those guys make and get rid of laws, but rest of us, the 99.99%, cannot avoid taxes on land and real state, it's just not realistic.
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I think Hacking is more common with High BTC prices because the Hackers get desperate that they are "missing the boat". If they had any real business or skills to offer the world, they would be earning Bitcoin legitimately instead of risking JAIL for breaking the law.
The Bitfinex incident happened right when the bitcoin price was surging... then we bottomed all the way down to 450 dollars. Of course intelligent investors used that dip as an opportunity to load on more cheap BTC, but a lot of people aren't intelligent and will succumb to panic selling. I know a lot of guys that lost their bitcoins on that Bitfinex august drop and now they are with empty pockets looking at the 1000+ current price and hating themselves for selling at 450 ish.. |
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I just don't know who would be buying at these prices.
People thinking the price will increase to much higher levels in the coming months. I am happy that I have bought my coins well below $500 when I had the chance. I wouldn't feel comfortable buying at current prices if I didn't buy back then. That being said, without people buying at current levels there is no way we can go even higher, so I am thankful to people buying as I see my stash increase in value constantly. I remember how people were making threads that looked exactly like this when we hit $500 back in the day. "Once we hit $500, how far will BTC drop?" Little did they knew, that bitcoin wouldn't even take a rest after $1000. People think that round nice numbers like 500 and 1000 always mean a correction incoming, that's when a lot of people lose tons of money, they try to short and the leverage makes them go broke, it's a sad story, but also a reminder: you can never be sure that bitcoin will take a rest even if you think it makes sense. Same goes for the next ATH. People will short at about 1200, and we may see a further rise, making all the shorters go poor overnight. |
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Forex is a hard thing to predict, some people has sucessfull transactions for a while, the question is for how long they will be able to keep into the gree light. I am following a thread that looks like the op has some knowledge and information to play and stay on green. But playing short at any currencie is the same to ask to loose your money, i do remember some broker i had used changes more then others brokers, and then i realized why, those broker were eating the short up and down. Even the expert traders loose, i do remember an etoro trader that had 100 sucess trades and were stucked with one open trade at euro when it were 1.47 against dollar, those still open till today, soo if they fail to close their trading positions and do loose some money why others will only make money?
Forex is alot simplier actually the fact there there are indicators and economic news are sent online in seconds with the help of internet. The only thing that is hard to learn is when to exit a trade. And also a sudden news that can affect the market isn't something anyone can predict. no different to crypto but its more controlled by whales as of now. Im yet to see someone with solid, year-after-year forex gains, or any gains at all if the person doing it is daytrading. I just don't believe in daytrading at all, I think it's pure luck. We can anticipate what's going to happen, but not exactly when, and daytrading is gambling with micromovements which is just market noise. It's not the same being in january 2015 when most smart people were telling other people to buy Bitcoin because it was super undervalued, it was predictable that we would sooner or later go to 1k+ again and hit a new ATH, but it's simply not possible to know what's going to happen in the small timelapses that daytraders play with. |
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So beware of all those XT/Classic/BU hijack attempts that try to stop the conservative approach that has made software a robust and reliable software. They are also conveniently against segwit which would give us Schnorr sigs, Confidential Transactions, default decentralized coin mixing on the wallets, cool sidechain stuff like mimblewimble... in other word's government's greatest nightmare. XT/Classic/BU with no segwit is way easier to control.
might be worth you doing some fact checking. its core that wants to handcuff bitcoin to turn everyone over to LN (paypal2.0). yet those opposing bitcoin want more real permissionless transaction on the mainnet. its core that while handcuffing bitcoin, they want to bloat transactions with kilobytes of data (confidential payments) where the reality is that these confidential payments will only be confidential for a few days before the 'hidden value' is revealed. its core that want certain LN (paypal2.0) hub managers having a masterkey to move peoples funds without their consent to use to mix other peoples funds with only a moral judgement that these masterkey holders would put funds back. thus LN/mimble wont be permissionless, trustless, or even frictionless. those making LN are already putting in stumbling blocks and penalties to charge people extra just for the 'privelidge' of using LN. after all their desire is to repay blockstreams investors so they need to handcuff bitcoin to force people into LN(paypal2.0) to get those penalty fee's to hand back to blockstreams banker investors. it really makes me laugh pretending blockstream are not involved with the banks.. What are you talking about? the only Paypal 2.0 is the big blocksize approach, just like the ones proposed by Bitcoin Unlimited. Again, I literally put a link where Roger Ver (guy that is blocking segwit and pushing for whatever gets rid of Bitcoin, in the past was XT, then Classic, then Bitcoin Unlimited and then they will try again with god knows what) says that its ok to turn Bitcoin into Paypal 2.0... what more do you want? LN is way more decentralized than bitcoin with big block sizes that dont allow for people to run nodes, but even if you are too paranoid about LN, you can still send money directly through the blockchain paying the fee and waiting extra time, because it doesn't come cheap to have world class encryption backed by the biggest decentralized network on earth. There are no magic solutions unfortunately. |
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I was thinking about if the monero approach (that is, dynamic blocksize with dynamic fee to avoid spamming trolls) would work with bitcoin? It makes sense to me... im sure it has some sort of tradeoff tho compared to the simple conservative approach we have now but I would like to know, specially what is gmaxwell's opinion on XMR's approach compared to Bitcoin. I think he was XMR friendly and was even holding some. I would like to invest a bit on it, but im not sure it will ever scale. Can they have a LN-like solution too on top the dynamic blocksize+dynamic fee core?
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As Bitcoin mining is partially controlled by Chinese miners, I have a feeling that sometime in the near future, Bitcoin can become centralized if no solution against this is proposed. If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years. As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day. Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for.  Im not as concerned about mining centralization as I am about node centralization. According to experts like Andreas Antonopoulos, we will see a second big decentralization of mining: https://www.youtube.com/watch?v=2-fUosBOu58It's worth watching the entire talk, but that explains it nicely. We will see, I think things will change in the future and china will stop being a bitcoin mining superpower, they will always have the cheap electricity advantage tho. In any case, the big danger is the anti Core/Anti Blockstream paid government trolls like Roger Ver trying to turn Bitcoin into Paypal 2.0, in other words a ridiculous hipster token that is easily controlled due its huge blockchain that will be hosted by datacenters instead of random people on their basements. https://www.reddit.com/r/Bitcoin/comments/4irowq/roger_ver_paypal_20_is_an_acceptable_risk_for/So beware of all those XT/Classic/BU hijack attempts that try to stop the conservative approach that has made software a robust and reliable software. They are also conveniently against segwit which would give us Schnorr sigs, Confidential Transactions, default decentralized coin mixing on the wallets, cool sidechain stuff like mimblewimble... in other word's government's greatest nightmare. XT/Classic/BU with no segwit is way easier to control. |
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Do you really think Bitcoin price is going to crash after Block reward halving?
If anything and judging by past performance when the halvening happened, all it does is increase the supply... as expected. The supply shrinks, the demand stays the same (and normally keeps increasing with time) it can only lead to one thing = an higher price. If we keep making good progress, the halvening pump will happen while the current uptrend is still going on. I think we will reach a point where we just see lateral growth with some up and downs but the all time graph will look like Berkshire Hattaway class A. Bitcoin is a super asset of unique qualities anyway. |
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The price for bitcoin hit the point of 1030$ before the new year, I think that was on 30th, but I am not sure. But after the price fall on it's previous level 900+$. And now I see again on YoBit 1018$ per coin. That is fantastic! Bitcoin doesn't stop to surprise!
i see that price too in poloniex market, its fluctuate in today as i can see the price is down and up in just one hour until three hours from now. i think the price is going to go up but we still need to be careful because this is the serious time for us to make a good profit or not with trading. so i hope we can make a profit from this. I was in poloniex during the price surge to 1000 dollars and it was so fun. I saw a guy loss his shirt when he was trying to buy the dip, a dip that never came because the price never stopped after reaching 1000, or I think it did but so briefly that it doesn't even count as a dip. Now he's stuck with a 900 dollar buy entry order and im having serious doubts that we are going to see 900 again... if this is the next big rally, and I mean 2013 tier rally... we are not going to see 900 after the correction. |
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Continued push to around 1100-1200, then retracing to 850-900 over the course of a month or so.
This is a conservative and reasonable prediction, but take into account that in bitcoin land conservativeness doesn't always apply. For all we know, this may be the new floor and we will never see 3 figures again, so I wouldn't gamble with it and i would just keep buying any further dips. Unless something huge happens, I don't see any major corrections in the future. Some say that China banning bitcoin could take a big hit on the price, but im not sure about that, it may actually do the exact opposite. |
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first time around it was mainly amateur investors who bought , i remember the bubble myself i was trading it. it was all mtgox, there was no leverage or any advanced trading, multiple exchanges, hedge funds etc. it was almost totally out of the radar of the mainstream media
this time it is in the mainstream media. there are btc hedge funds, many different exchanges, futures, etc.
the price is not so crazy, its been a very slow buildup at each point people were thinking it would crash and it didnt. we've got kwukduck saying its a bubble, people convinced technical problems, etc etc.
that is unlike the first time when people were saying it was going to $100,000 per coin, "new elite" almost nobody thought it was a bubble, just seemed to go up and up every day with no doubt about any crash
the truth is theres some professional investors who are buying this time and arent going to sell, this is a very steady strong rally unlike 2013
yeah theres no crash this time dont think its going below $1000 again , sorry guys. if you havent bought it still time. we can go quite high this time, much much higher than last ath
The new market cap is a milestone. I glad I stick with my bitcoin since 2013. You did good, but the real test will be the new all time high, since we probably have a considerable amount of people that bought at around 1200 which was the top, so they may be waiting for 1200 to dump, but you have also apply the psychology of the "why this long walk only to get to 0?" It's like, people that held since 2013 having bought at 1200, why would these people sell at 1200? it's like wasting 4 years for nothing. You might as well hold and stay on board, since chances are we are going to go for a new all time high. The correction will be way smaller than most people predict. |
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Tax free usage seems to be one among the major attention seeker, but when taxes were imposed sure government holds control over bitcoin. This will make it similar to other currencies, only it gets the digital form. Till date taxation is not possible with bitcoin transactions.
Governments won't ever have the ability to directly tax Bitcoin. It doesn't really matter what you are using. If you have something with value, then it simply adds up to your wealth. If it allows you to buy and sell with profits, then it is like you are making profit in general. In both cases you have to pay tax over what you hold and gained in profit. Name of the tool isn't important, the value that it holds is. Difference here is that Bitcoin simply allows people to hide a part of their wealth, where the government doesn't know who or what is holding which amount. They only know it if you declare everything in a honest manner. But who is gonna do so? Governments can, and will find out that you have bitcoins IF you used exchanges to buy them. Look at the Coinbase incident for instance, they requested all the data to pass it to the IRS. Maybe they cannot find out what happened to the bitcoins you bought, maybe they can't find them, BUT they have a registry that said "this guy bought X bitcoins at X date". They know that, so you will be forced to give some sort of explanation if they demand it, and that is the question... what do you say? you can't just play dumb, since you willingly bought the bitcoin. |
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I'd rather go for web wallets than brain wallets. I am stoing my Bitcoins on paper wallets and I feel safe, they're even easy to hide. You can be 100% sure nobody tracked you and saw your money if you're going to install a temporary system (Linux Live) and generate the wallets OFFLINE abd print them out after.
If you use paper wallets, don't forget to use BIP38 to encrypt the cold wallets, you are going to need that. I don't get why people think using paper wallets with no encryption is a safe practice just because you are storing them at your house. People often forget that good ol thieves that actually break your shit and get inside your home and steal everything they feel is worth stealing don't exist anymore in the internet age. Once bitcoin becomes mainstream, thieves will learn that anything with a QR code is a potential goldmine, and a paper wallet without a lock is an easy steal. |
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No. Segwit will make things bigger, like a block size increase. Something has to get bigger in order to allow more transactions. Yeah I made a mistake, I meant to say blockchain. I post when I take a break from my job and my head is thinking about a lot of things at the same time.
But even if the price of HDs keep going lower, what happens if someday the blockchain is growing fast enough to be bigger than the average HD? I don't see average HD size getting higher than 1TB in the near future (I mean the average person doesn't need more than 1TB..)
That is an invalid argument. 20 years ago the average person didn't need more than 100 GB of storage. File sizes have been getting progressively larger. Just because something is that way now doesn't mean it won't change in the future. Yeah but I mean in 4 years. I don't see anyone I know needing more than 1 TB in 4 years, yet, if they wanted to run a bitcoin node, they would run out of space with their regular 1 TB HD which is more than enough for most people. People no longer store movies etc, since connections are so good that you can stream them in HD. So most HD space goes for games, and 1 TB is more than enough. The average computer user will not need more than 1 TB in 4 years at all. |
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The block size? The block size is most definitely not going to by 700 Gb. That's way to large. You're probably thinking of the blockchain size. The blockchain currently grows at a rate of 144 MB per day. With Segwit, it can grow at a maximum of 576 MB per day. You can then extrapolate that to the maximum size the blockchain at any point in time. What happens once the size goes beyond 1TB, or beyond the biggest HD? what happens when you can't fit the blocksize in a regular HDs? Can you run 3/4 of the blockchain then the remaining 1/4 part in another HD?
Hard drive capacity will continue to increase, and it will most certainly outpace the growth of the blockchain. Disk space gets cheaper by the day. The concern should really be on bandwidth, CPU, and RAM bottlenecs. It takes a lot of bandwidth to download the entire blockchain and a lot of CPU and memory to process all of that data. Yeah I made a mistake, I meant to say blockchain. I post when I take a break from my job and my head is thinking about a lot of things at the same time. But even if the price of HDs keep going lower, what happens if someday the blockchain is growing fast enough to be bigger than the average HD? I don't see average HD size getting higher than 1TB in the near future (I mean the average person doesn't need more than 1TB..) |
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It's probably a guy that is not even running for presidency. There are lots of people out there with great ideas but unfortunately they will never get elected.
From the ones that had a shot, I think Ron Paul could have been a great POTUS, much better than Hillary and Trump.
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All those people thinking that we will reach singularity in 25-30 years are delusional. They will look back at their claims and think how wrong they where, specially that Ray Kurzweil or whatever you spell it.
The good news is, by then 1 BTC will be worth millions of dollars, now that's a prediction with real chances to happen.
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Bank will never disappear, people will still using fiat till the end of the world no matter what happen with btc. Bitcoin is just a crypto currency that will never replace fiat currency. I have no doubt about it
I really do agree with you, its really impossible for a digital currency to replace the fiat currency which is being already used since the beggining of time and people do have really trust on it and fiat is already being established and strong for how many years already so that it would really impossible for this thing to be happen. You are discounting the fact the human race is transitioning to a digital world where everything is already electronic. There would come a time where the paper money will no longer be used. Bitcoin or maybe another electronic currency will replace paper money! It is inevitable. There will come a time when solar flares disrupt the electrical grid and electronic money will disappear. Fiat will go down at the same time, because it is electronic money.  I don't buy the solar flare apocalypse scenario at all, I think it's sci fi and not realistic. All that will happen is simply a period of certain parts of the earth going shut down but we will have a backup plan to function with stored energy by then. In any case as soon as energy comes back the bitcoin system still works. |
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There should be a way to guarantee that you aren't sending money to an address that doesn't exist, but unfortunately I don't see how this could be engineered at all. The client would need to scan the entire blockchain.. its nuts. Just always copy and paste, then I don't see how it can go wrong. Remember to double click the address to select the entire address when copying.
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