Short answer: no. Longer answer: Nooooo.
Banks are hacked, robbed, etc. all the time. The money is insured, and people don't lose their life savings due to such an attack. If a bank is hacked into and the news is publicized on national television, the Bitcoin price will most likely spike in response, but this is 100% due to pure speculation, no actual adoption takes place.
As for the comment on bitcoin spiking, I think it would only spike if there was a huge level of cyber break. Like on the corporate level and having funds being split off multiple ways which they cant trace or the hacker has a level of skill they couldnt handle. But even then, the bank will always insure your money is safe since they have so much of it. yeah man, bitcoin market is very sensitive when the volatility of bitcoin does not advantage them, then bitcoin is really bad for them but when it boosts, they invest even more. If any bad news comes up, btc market shakes up and eventually crashes down causing panic but when things work in favor of bitcoin, 1/4th of the % of people who leave btc, join it. |
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I have been working 'online' for half a decade now, its all about how fast you are able to grab opportunities. I entered fiverr at the right time, I made good profit when the website was useful. I started writing and sending it out to people who might like them, I wrote 10-15 articles a day and soon, people saw potential in me and eventually started paying me for my efforts. I developed as a writer, went offline to marketing and advertising agencies to work and learn, learnt money management and invested in things which peaked my interest, entered cryptocurrency at the right time and realized my ventuees would do better with its involvement in crypto, so yes I make money online from here and there, its equally as time consuming and frustrating, but it gives you pride that you are your own boss and you decide your potential and the size of your wallet, not the boss deciding your worth and paying you salary accordingly. Anyone feel the same here?  |
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I think that non of us here on this forum can judge the situation that is taking place in Greece. If there is a kind fellow that can help them, in this very bad times for them that is fine, but we can just go on and talk about situation and nothing will be changed.
No one are judge what happen in Greece. We are only discussing about this particular situation in one country. This is normal and no one can tell that this is wrong. Is the people cannot discuss nothing can be solved and is denied one of the right of human being. It is another thing is at someone don't like the discussion. I suggest to him to go away and to not read what the people write. bitcointalk is the foundation of where bitcoin related topics are speculated, often people discuss the pros and cons and helped other members choose a viable option which fits their needs. I have received a lot of helps in topics related to marketplace and trading, but I do feel that people should only talk if they have knowledge about it, a lot of fools say stupid shit here too |
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Let me respond to the statements above systematically i think the panic can be attributed (partially) to the XT vs Core debate doing on right now, which is causing a lot of FUD about "the death of bitcoin" and whatnot.
The only thing affecting price isn't the XT vs CORE debate, and XT is in no way becoming another currency, so whatever stays at bitcoin will still remain bitcoin, it won't become a new currency on its own, just a faster technology than what it used to be, blockchain technology alterations. Wait and see until when? I think just sell off your coins and then can buy when all dust settles and have some good news about bitcoins otherwise you will also join to the team who has brought bitcoins around 1000+ and still waiting or watching bitcoins going down for ever. As of now do not know how long this negative trend will continue  Oh, sure, advising people to sell off their investments, just when a crash happens. The bitcoin market is sensitive, bad news scare people easily and I understand the outcomes haven't been so thrilling yet, but there are ups and downs always, China has been causing issues regarding bitcoin, it was a black monday and the stock market crash ignited the fire which bitcoin is still dealing with, so take that into consideration too. Bitcoin is a technology as well as an investment, its not a magic well What you said is fully correct. Currently it is like a falling knife so do not dare to put your hand below the falling knife. Wait until it stop some where.
well said, want to sell me your btc instead? Why wait? I will buy it at current price  Yeah? Do you even own btc or you're just trying to earn some doing signature posts? Oh and FYI, I love catching falling knives, I still have two hands and a nice BTC wallet  |
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i'll try investing 30% of my salary from my day job and see how it work
my problem now is where to invest?
I`m trying to do this as well. but its so much harder then most people think. esp when your wage is small as it is, everything adds up and nothing is left really to save. I sometimes have to consider what my odds are.. to even see this happen anytime soon most likely not for super long time. I made good profit investing when the price came real low, and when people got scared and rather sold their investments, I made money off it In terms of investing capital from your wage, you must know that a salary limits you and your dreams, your success is only limited and priced, and you work hard to fuel the dreams of your boss. Learn as much as you can working for someone for 5 years or less, then its time to work your own ventures Very well said especially the own venture part! The thing is once we work in a secure environment and you find that a fixed salary every month enables to to take better care of stuff.. we get comfortable and do not want to move out of our comfort zone. We attribute owning property and wealth to a steady income flow. The potential to earn is multiplied many fold when you are an entrepreuner, its just that people are too scared to take a leap of faith! (me included). We kill our dreams because we are getting by, helping someone live their dreams I think its human to get lazy but the one who gets all the good shit in life, has to work for it. Not everybody was born with a golden spoon, I don't think it even matters to someone with potential, money is secondary but being happy is priority for such people, I like to believe I am one of them I was definitely born with a plastic or wooden spoon . Jokes apart, i appreciate what you said and the way you look at life! It has given me new hope, i am looking for that one amazing opportunity to come my way and then i can say goodbye to this dead-end job i am in atm. Money is secondary for me too, i have always looked for job satisfaction and putting money on the back burner. Unfortunately, things have a way of sneaking up on you when you are not looking and then you start to fire fight, which aptly describes my current position! Don't let the darkness of the world demotivate you, they are not your allies. The chaos of the world never stops and if you do, the world does not stop for you. I hope you find your way around your problems, hell I do sympathize with you. You work around an ATM, where you see so many people run along counting their fiat and you might be wondering if they ever knew the potential of what they might assume to be 'digital scrap'  |
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I think it's impossible
the unit price of bitcoin was so large that it is very difficult to use, in contrast to the dollar which has a normal unit price
Why? In term of unit price, you can easily use the cent or the mBtc. And then there's the opposite, currency that are worth 100-1000 time less than the "normal unit price" which work just as well and this in the real world economy. So how is a deviation of two zeros and worse than real world 3 and 4 unit deviation? normal is what people define it to be Bitcoin can be divided into very minute parts and I question if you can really do that with other fiats, keeping the extremity of divisibility apart, I would also also like to question what you define a normal unit price as, I think real world economy could be well understood, if you give it a try |
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Wow cool.
Also Greece have also installed thousands of bitcoin atm, so this is also promoting bitcoins.
I like the way it's going.
Well Greece havent installed all of those atms yet, but you are right, when they have done, it will make people be attracted with bitcoin. it might raise some eyebrows but I don't find it something which will attract people to buy bitcoin. I never saw any ATM which made me feel I should become a part of the bank operator, then why would a person who knows zero knowledge about the crypto world would ever take interest in the field just by looking at an automated teller machine bruh? |
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Yes, definitely it will shake people's confidence in banks and they will withdraw their money from banks if any left after the hacks.
But on the other hand, Bitcoin is also feared of the 51% attack. So they will probably not buy Bitcoins.
bitcoin does not aim to rescue people when fiat fails, it only seems to offer a better alternative, its goal is not to replace the fiat currency, though a lot of bitcoin fanatics day dream about such an event. But speaking strictly in terms of hacks, there has never been a hack with the bitcoin core technology, only with scammers and hackers attacking peoples' wallets personally, so technically bitcoin has never been hacked Bitcoin has never been hacked, but neither has fiat. It is just companies and wallets which get hacked. You can't say that Bitcoin has an advantage in this regard. Bitcoin has an advantage over fiat being limited in supply and not controlled by a central authority Oh, and also, they are not debt based, remember? And if your argument would be based only limited to 'fiats have not been hacked', I hope you do know that electronic fiat exists too? Your debit and credit has been attacked a potential million times, and often successful. Bitcoin has an advantage over fiat by being freeze-proof, cheaper and faster to transfer and well, potentially anonymous |
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with BTC tanking, these losses dont look so bad do they?
The losses might not look bad, but their impact would be the same to the person going through the losses because he will only reap losses at the price he bought. So in a situation where I had a loss of 2 btc, I suffered a loss of 2400$ because I bought it at 1200$/1 BTC. Meanwhile, a guy who bought 2 btc today only went through a loss of 400$, so yeah. Losses are losses, I don't cry over spilled milk. |
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It is a good idea. This will improve the safety of Bitcoin. And expand many features.
such as? Questionable anonymity, going against its major feature of being your own bank, letting third party handle your transactions, give out your btc to others in order to lend btc and make more btc in return, it will all how the financial institutions are right now: Broken. We all rant about how bitcoin could fix the problems fiat endure, then why try to make it just like fiat? |
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I see one world reserve currency as bitcoin, but the metrics would be crazy.
Like 1 bitcoin repersents a nations debt of $1 million. or something along the lines of seeing a metric of value of debt with bitcoin.
You didn't understand a damn thing from the thread. You don't even know what a reserve currency means. Sheesh. And your fantasies about Bitcoin are typical of the newbie Bitcoin retard brigade. [/quote] exactly man, the reserve currency and the world reserve currency are super complicated and different, not as basic as you understand them to be. And Bitcoin becoming the world currency is something which is every bitcoin noob's wet dream, thinking that that little satoshi he owns from signature campaigns and faucets will be worth so much, haha. Let's keep it real. |
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There was big talk about bitcoin becoming mainstream in 2015, but I don't think it's going to be at the very least 3 years before bitcoin goes mainstream like Wikipedia did 10 or so years ago. New things take time to adapt and as far as an open-source technology like bitcoin and blockchain is concerned, it will take a long time still until people can trust the digital currency and be confident the currency will not collapse. By then the price will probably be quite high.
I think a few things which will attract new bitcoin users for us to lead better mass adoption would be more successful business ventures either related to bitcoin or rather big companies accepting bitcoin, that would make good news in the press. Further would be success stories of people who did great after buying bitcoin, attracting more people to join in for personal gains. Then, we show them the bigger picture, the world which does not limit to us, and the truest potential of block chain technology, making these bitcoin users into bitcoin soldiers, and they fight for the bitcoin community against fiat, screw the banks. GO SPECULATE! |
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No, Bitcoin cannot replace dollars soon.
I mean That if XT kinds of hindrance will regularly come in its path and prices keep on fluctuating this much, then it will be very difficult to replace dollars which is the most widely accepted currency.
Most people bring ice in from the north on ships, that is the most widely accepted way to do it, and what people do now is what people will always do. Also people disagree on the details of how to build refrigerators. Either you said something which is the realest or you were just irrelevant Anyway, discussing about XT, I think that has comparatively very less to do with what is happening to the price, because XT is not another currency so people aren't leaving, they just choose something with better speed, an alternative version of the same technology. What's affecting price is the black monday we experienced and stock market crash, with all the bullshit from China we are receiving on the usual nowadays. |
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It's a technology used as currency by the community. I like the idea of mining in bitcoin, it's like mining some gold in other way. So i think bitcoin is a commodity.  Yes what you said is correct. Bitcoin can be considered as a commodity or technology but no way a currency. Well in my opinion BTC is not only a technology but a disruptive technology it’s probably the greatest innovation in money since coinage. By the paragraph above it should very obvious that I consider BTC to be money(not currency that is something else) And by the way Gold and Silver are also money. gold, silver and bitcoin are all taxed as capitals though, in the eyes of the law. All the gains from the increase of their value after purchasing it is considered as capital appreciation, ofcourse laws are different depending on place to place in the world, but it is obvious that fiat is the most widely used mode of payment right now, there are a lot of factors which decide what really is money, so I am not sure gold and silver are really money All what you wrote is true and your logic flawless. But I see it in a different perspective. Gold, Silver and Bitcoin fit the characteristics of money, so to me, it doesn’t matter what the governments of world say, since the three fit the definition. However, the three have the same problem: adoption. But this could change very rapidly if TSHTF, since Gold and silver have a long history of being money we could see the reemergence of currencies backed by gold, silver or both. But I don’t think we’ll ever see a world were you can go to the grocery store and buy stuff with a gold or silver coin. And this is why Bitcoin is so revolutionary; I do think that we’ll see a future in which you can buy anything with Bitcoin, so in essence Bitcoin will become the equivalent of electronic gold. But of course that’s my opinion. sir, here's something which makes it easier to know what truly is money by dividing it and comparing it in terms of qualities which defines what money is. I hope it helps you and makes you choose what is better. This is something I found on the internet so feel free to question it and debate about it, but I find it pretty accurate and actually understandable for all!  |
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Bitcoin had become a shadow for the people. It helped the unemployed people more. In many cities bitcoins are used as currency for many usefull purposes. Bitcoins help us for online purchasing,it help most of the people does'nt have the credit card. I act a credit banking system. Nowadays the banks cheat or make any malpractices in the society. But to cure it bitcoins had arrived. Bitcoins can be used everywhere in the world you're just saying the same BS another noob website would talk about bitcoin. Let me question your knowledge, if you allow me please. (Note: This comment is directed to this individual only) Q1) Which cities bitcoins are used as currency? What useful purposes? Q2) What did you purchase online, do you even hold any btc? Q3) I don't have a credit card, how is bitcoin helping me? I don't get credit from btc Q4) Nowadays bank cheat? Banks have always cheated, but when did bank cheat you personally? Had such an experience? Bitcoin isn't a savior, it is not a cure, it is an alternative, deal with it noobs. |
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im not selling my BTCs - im just using tchem to buy goods.
not my fault some companies sell them later tho..
It is only a matter of time before the suppliers of these companies start accepting bitcoins. Then the loop will be complete. Bitcoins will flow along the value chain without the need for changing them into fiat at exchanges. yes, it would be great to see bitcoin be regularized in trade but not exchanged for fiat, and the trade circle will be complete from supply to demand, and there will be no need for the receiving end of the individual to exchange it for fiat, because he will be purchasing the next commodity with the same currency: Bitcoin. SUCH AWESOME, MUCH SUCCESS! |
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Well, it depends what you mean by "end" If you mean the full disappearance of the dollar, then that’s not going to happen. If by “end” you mean the dollar losing its position as the sole reserve currency then that’s already underway.
However the dollar could prove to be more resilient than people think, the dollar has collapsed before, and its still there, a possible scenario is that after a dollar collapse, the Fed decides to have a gold backed dollar, and BAM the dollar is back again (obviously this is unlikely but still possible)
That scenario will probably not happen. Once the US dollar collapses, anybody who has gold or silver or crypto will be the only people with any more at all. Also, the fed is owned by foreign nations and those people probably would not want to loose the economic control, so gold backed currency will probably never again occur. True, but it is fun to imagine “what if scenarios”, don’t you think? they were fun when btc wasn't crashing and everybody were dreaming to be millionaires just by holding 1 btc and talking about how their dreams would come true, 200$ price now and everybody is running places cashing out their investment talking how it's all going to doom. It used to be fun to speculate what could have happened, but its scary seeing our predictions about how things could go south are actually taking place :/ |
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i prefer gold.... because in bitcoin you cannot really tell what will happen. besides when you dont have an electricity in one place, you cannot use your bitcoins. while in gold you can sell it anywhere...
Yeah, just like today how it plunged another $30 difference for no reason and still going down slow. Its almost near $200ish barely holding, so i feel most of this is based on the news of the bitcoin split and no one wants hold it. that is not the only reason affecting the market, there is a huge stock market crash which happened, a black monday and a lot of shit in China taking place against btc disregarding that most of the China uses btc a lot, there are websites like btcchina which are operating from there providing access to thousands of users, so things went south but it won't be like that forever |
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it seems to me if the price of bitcoin continues to decline instead will reduce the interest to bitcoin  Yes slowly price is touching 200 mark and it may continue to fall and may even touch 150 mark . No good news for bitcoins stahp with the panic bro. stahp. people lose their mind over the price of btc, take it easy mate, its just investment, it will bounce back for you. Didn't hear people complain when btc went to a thousand dollars, now that its a little low, everybody is losing their minds. Btc has gone down and sprung up at twice the rate, so why panic when you can invest in more crypto ventures with more equity and low investment |
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I think it's better to save the money to buy her something more tangible such as gold and also the home. because if you invest here you will be quite difficult to sell the goods and also every time will be ascending. If I were you I choose to invest like this
Unless you buy the goods into those traditional form. Remember there was a guy who bought a house for 100 btcs or some ridiculous amount. I know most home buyers wouldnt take the plunge unless they knew the price of bitcoin was back in the 1000`s. I'm ready to pay 100 btc for a house, please sell it to me Looking at the price rate of today, I would get the home in 20526.00 US Dollar which is a pretty sweet deal, so please I am waiting, where you at Still can't believe who bought a home at 100 BTC when 1 BTC was 1000$, he bought a home for 1000 x 100= 100,000$, which is not as sweet a deal now, is it? |
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