Does anyone have any idea how many people are using gold as a store of value vs btc? And how long do you think until we have the same user Base as holders of gold?
I am afraid that Bitcoin will never manage to attract as many users as gold. Gold is being used by billions of individuals around the world, as an asset. Bitcoin will never be able to attract that many users. Keep in mind that gold is already known by human since many centuries ago and bitcoin is only published in the world just a few years ago. Many people also had used gold as some sort of jewellery while bitcoin is just a currency and can't be forged to make various things as it doesn't have a physical form. By seeing that, I can make a conclusion that bitcoin is not going to have users as much as gold does. |
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i think that people don't know about bitcoin because there is a few place that introduce bitcoin into public and people still thinking that bitcoin is just a part of internet and maybe they don't know that bitcoin can be a way for them to make money. the other reason is they don't care about bitcoin and they don't think that bitcoin is new technology that will helped them to make money.
I think awareness about bitcoin is gaining ground, but in a negative way. People are talking about "bitcoin being used in underground such as drug dealing and gambling. Bitcoin is notorious for not being connected to "good news". That's the fact indeed. The media trying to expose bitcoin in a negative way so people will know it but not going to join the community or being one of us. But even the media or "government" are already trying that way to defend their local currency, there must be someone who has a brain and finding the truth behind what media has spread with their news. |
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We are very little in percentage compared to the number of people using fiat. But its been increasing day to day, also the acceptance in certain countries were growing very high. One such is japan which has got around 4200 shops that accept bitcoin. This confirms that bitcoin has got the possibility to be used as future money.
Bitcoin as a future money,yes there is a big possibility and as of now,it is the leading cryptocurrency. BUt there are also may crypto which is fast in joining the ranks of bitcoin and some are even very promising.This competition will bring the best in each cryptos to address issues like speed etc. Those cryptocurrencies which you said promising but until now only proven can't even take over bitcoin place as the first cryptocurrencies and the most popular among other, even Ethereum's market cap is still less than 20% of Bitcoin's market cap. Didn't really sure that one of those cryptocurrencies is going to lead the cryptocurrency world in the near future |
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Hello everyone as the title says ^
Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
for me i am save it in wallet online , i think this is more easy to open everywhere .. if software wallet in laptop, you have to bring it if you wanna go to everywhere .. if wallet online this is more easy using desktop wallet will be more complicated because when you're going to open your wallet you have to bring your laptop, while the online wallet can be opened anywhere. and I think the online wallet is also quite safe if you add 2FA That's why some people still prefer to use online wallet regardless to the security which is poor and can easily make you lose your money if you are saving for a long time. But desktop wallet nowadays could be integrated to your wallet in mobile so, its function is actually as the same as online wallet but it just can't be accessed without special app but, still nowadays people are already having some sort of gadget with advanced technology. |
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Even if Bitcoin is progressing in value uptrend, and development, it lacks of a wide array of local merchants that accept it. In the US, I have seen several local shops that accept BTC, but it is a very minimal amount when compared to other stores that mostly accept fiat and/or credit cards like Visa. That is why I wonder, why BTC hasn't been greatly adopted by local merchants and retailers worldwide, as it would have a positive effect towards mainstream adoption of it and other digital currencies. Nevertheless, I would like to know if there are local shops around your region or area that would accept BTC.  i think people not know about bitcoin yet ... so people not believe yet for payment .. It's not about believing or not believing but every marketplace will always follow the trend and be targeting only those which can give them big advantages and helping them to cover majority of their customers. And bitcoin for now still have pretty low users and thus the coverage still under what the marketplaces required to have. If bitcoin just gaining its popularity and as popular as Paypal, the marketplaces will automatically implement the usage of it |
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what i do is not based on times like this, i bought when price was low at $200 then sold a small portion when price had its first rapid rise and then bought back more bitcoin because i had profit.
then waited for another rapid rise and i did the same thing and bought back again.
after doing this a couple of times i now posses lots of bitcoin that i never though i could have.
and this rise was no different, i only sold a small portion on $1100 and i have been buying back at different levels and mostly at the 750-800 dollar range because of it being the bottom.
This is the good strategy of doing trading with the bitcoin holding, like this you can increase the quantity of bitcoin and this way the price of the purchase is also lowered. And if bitcoin trades in this range for some time then it will be very good for next bull run This might be really good way to earn large amount of profit just in short time but actually, it just depends on your luckiness, fortunately, that he can sell the bitcoin at the right price and could make profit out of it from the recent price decreasing while some people may, unfortunately, can't take advantage of the significant price changing. If doing this one was that easy then maybe i might have been earning so many bitcoin right now. |
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Is because the name "Bitcoin" is the best name for a crypto-currency.
No other name will be as good.
That is a lame reason. Monero, and Litecoin are just as good names. But the name never matters, what matters is the usability and demand. Western Union is a pretty bad name, but still many people use it. Definitely. Even if you're having a company which has an ugly name but if you're really good on branding and then make the name of your company popular then people will automatically know it and think that the company's name is really good. It's just how the popularity works because of advertising and many factors that can make people always remember the name. Even though, selecting a good name will help to improve the rate of success on branding |
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I don't get it why people will believe that Bitcoin is dead through rumors they can check the price it is still high compared when this coin is first release. Also If Bitcoin is dead then all alt is dead well just compare those currency to Bitcoin. Bitcoin is still the prime currency. But i agree to some of you we should seize these opportunity to buy Bitcoin while price is low then resell it once Bitcoin users understand that the rumors are false.
Everyone have different mental and opinion. There are some people who want to spread the news to make bitcoin price decreasing while the opposite things happened and expecting the price to increase. Also, not every people in this world is smart and there must be some dumb people who believing this kind of rumours and then joining the club to spread and becoming another FUDer, no wonder why the price keep decreasing until now. |
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Best source of bitcoin for me is by doing bounty hunting and signature campaigns. I have made some bitcoin by due various tasks and promoting various projects. If you have skills such as designing, writing, graphics creation, etc. you can sell them for bitcoin.
Trading is risky and I don't recommend it as the best way to earn bitcoin. You can go for investing rather than trading.
Investing is risky too, everything from which you can make money is risky.(gambling,trading,investing) trading is a good way to get daily/weekly profit.(if you're good at it) If not sure where you want to invest, even start it should not do. Risk is everywhere and always. It is necessary to seek information and learn about it. As long as the risk worth for money then why not, even every aspects of living having risks if you want to observe it furthermore one by one, stopping to earn or doing activities because of the risk which is actually fair is not a good thing. If you afraid of risk then your life must be really bad and you will achieve nothing. |
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To bitcoin become a mainstream just need to Apple start to use bitcoins in their apps  Unfortunately, the chances for bitcoin to be used by Apple and added to their app store is really little because they already have Apple pay that's now advertised everywhere and it seem that they're really serious about this one and going to make this as popular as paypal and getting used for worldwide. They're just not going to throw their own services into trash can for the sake of another thing which they don't really get into. |
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Bitcoin can't be more popular that USD dollar. Dollar is known and used over the world and the number of bitcoin users are just around 2.5 millions now. But I think Dollar and Americans see the danger in Bitcoin cause of it's price and out of control form.
So, you're making an unreasonable prediction saying that bitcoin can't be more popular than the dollar while actually, you know nothing that will be going in the future. Bitcoin have the chances to be more popular than dollar as any other currency have had since long time ago, the strongest ones will eventually fall and the new will replace it, it's natural law and no one could argue. |
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Mining end in the year 2140 so in my opinion is the last thing we should worry about as I am pretty sure we will all be dead and forgotten at that year 2140.
As others have already said then it would depend on transaction fees and also bitcoin will not end but it will be extra expensive as there will be only this amount of bitcoin in circulation(21mln coins) and if people by then decide not to sell than the price should only go up.
It is thoughtful to know that it will end in 2140,beside it is a proposed date. Mining of new bitcoin can end but mining to gain transaction fee continues, due the infinity block of network more so this process is also rewarded. In about 20 year the mining reward will be under half a Bitcoin. To make the same Bitcoin would need to have a price of almost $30000. Transaction fees will overcome the mining reward even sooner. So this will be a problem (or not) sooner then one might think. Just see what happen after the recent halving and the effect until now that it's proven the price is rising if you compare with the price before halving. I think that if the mining rewards always goes low, the rate of bitcoin will be increasing and it's will be a fair amount of reward equivalent to fiat for those miners to fulfil their needs of mining such as electricity or maintenance and give them some profit out of it. This problem will be sorted out by the time. |
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Looking at the present growth , i might overcome paypal.
Like now steam and even Starbucks have started accepting Bitcoins , and its a great achievement .
But we cant predict anything . Bitcoin have to try a lot harder to overcome Paypal .
Here the condition is same for me but here something going to different because the bitcoin can replace the PayPal at this time but for what if we talk about future . Because as I am from India , here new rules are coming for bitcoin . So probably it may be happened that the transactions with bitcoin will come in many tax systems in the my country & results into huge taxation and transaction charge . If that's true that India will eventually implement taxation onto bitcoin then I'm really curious how is their method of taxing those bitcoin users except through some sort of merchant or bitcoin company. And if taxation were as huge as you mentioned then how people there who have bitcoin in such large amounts can holding on and might be a new obstacle for bitcoin to overcome paypal. |
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Definitely, Bitcoin usage will reduce the demand for fiat and increase the demand for bitcoins which in turn increase the price of bitcoins.That is why many governments fear bitcoins.
The fact that most of bitcoiners will end up converting their bitcoin to fiat means the demands for the fiat itself still remain the same and there's nothing for the government to be afraid of about bitcoin. And as you know that bitcoin's value always determined based on fiat currency such as USD and that indirectly reflects that bitcoin still need fiat |
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It's been 13 months I know about bitcoin. But normally since june of 2016 only i had started to invest and do deals with traders, website and other party. Previously i had thought that bitcoin is useless scam but later proved that bitcoin is the only way to earn with less efforts.
By the way, I'm pretty curious about what make you think that bitcoin is a useless scam when bitcoin itself just a currency and not a service providers. Beside of that, it's must be a miracle for you as you stated that you've done a trades and start some investment, gratefully if you bought bitcoin is low prices and selling it at its highest price which was occurred a few days ago. At least you're not just blindly accepting your past opinion about bitcoin |
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It is subject to Government policy, If the Government legalize bitcoin certainly many benefits to be gained, one thing that is important is the issue of taxes. With the Government's policy then the Government can use the bitcoin to prevent money laundering and to collect taxes.
Ya it is true that if the government legalize bitcoin then lot of unwanted transaction can be stopped but same question will start of bitcoin as decentralized technology and the transaction are unrecognized the owner of it only the wallet address can be found. So how the government will tax the bitcoin and in which category will they put the bitcoin revenue for tax Government can just be taxing through some merchants which dealing or accepting bitcoin as one of their payment methods because taxing things which are decentralised directly is just impossible just like bitcoin And about the wallet address, it's right that the owner may unrecognised but once government take an action and can recognise who's the actual owner, all of the owner's history of transaction may be revealed |
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It's not the Bitcoin that is taxed. There is no tax on dollars for example, but if you are earning, or disposing of capital assets, then you may be liable for taxes. If you take a car in lieu of payment, then you still may have to pay tax.
Exactly, Bitcoin obviously don't have any taxes at all because it is a digital currency or like the real money. Unless the government itself will give the by laws about in bitcoin, and if that happen that's not good for the bitcoin enthusiast like us for sure. I'd agree with your point that taxes is not so good for our wallet but we can't avoid paying those taxes otherwise, we'll bear the risk to be jailed. But, I guess that the taxes is not going to be that high and no need to be afraid. And if you all as a bitcoin users never pay the taxes then probably the government will make another movement, banning bitcoin is also one of their option to keep their taxes on fire |
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Most of the times they go fast due to the fact that its easy to send them and I use a standard fee so they are arriving pretty fast!
Yes I agree, we can send our money with low fee. Although we have to wait atleast 10 minute to complete the transaction but I am fine with that. Atleast I do not have to do difficult prosedur to send my money such as when I transfer my money using paypal or bank transfer. Bitcoin transaction is really fast and hassle free as my own experience transacting using my online wallet i never encounter more than 5 mins processing and it amazed me a lot. That time I am sending money to my friend which owe an amount of btc from me in just less than a minute the amount is already sent and confirmed. It's probably you're not doing transactions that often and that much. I've rarely seen some transaction that gets confirmed that fast even if it already happens to you for many times as you stated. And about your words that saying the amount is already sent and confirmed within less than a minute, I can say it's a bit dreamy even the fact that it could possibly happen but even the average of transaction to be confirmed is 10 minutes, and yeah i know it's "average" but that's just a bit odd |
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The biggest weakness isn't the technology itself, but the weakest point is always human. A seed written in an unsecured word doc placed in a folder next to your desktop wallet, weak passwords for online wallets, a lot of trash programs with trojans installed on your computer on mobile phone.. There is a lot of security holes created by users themselves.  A good point you got there. So many people are complaining that they have shit PC which has so many viruses inside it and the fact that they're actually inserting those viruses by their own mistake without even conscious of what they're doing and taking so many risks of something that could threaten their financial by installing pirated software which is provided by crackers in "purpose" but keep blaming on antivirus or whatever, such ironic. |
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This petition will be useless. They prohibit the existence of bitcoin in their country in purpose and a petition which is signed by just a few hundred people or even less ( which I'm sure that some of these people aren't Colombians ) will not really give an impact to the government directly so they will choose the wisest move and it doesn't give even a single shit. Just don't expect that much from your petition.
But, at least you're trying.
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