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No national money will ever be replaced by a cryptocurrnecy.
A government can not influence the cryptocurrency the way it is possible with the local fiat.
But this is necessary in order to give the economy support to be competitive on the global market.
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Strange thing.
The blocksize is very often under 100kb.
To me that shows that not very much transactions are made. And the transaction fee is way lower than on the bitcoin network.
So the only thing that would make mining worth is the bounty for finding a block, or am i missing something here?
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People use bitcoin to store value in it.
They hope on increasing price and are not planing to buy something with it anymore.
To me that indicates bitcoin became an asset, although it was originally intended to be a currency.
Maybe that is just a temporarily process.
If bitcoin would have a stable price, there would be no reason to put investments in it, and bitcoin would go back to being a currency.
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I think that every investment strategy should have conservative and speculative positions.
With putting some of your money in bitcoin you have one option more on the speculative side.
That last few months bitcoin showd what is possible, and many of the predictions about bitcoin give it a very positive future.
I think it's not wrong to give bitcoin a chance in your prtfolio.
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I think it will not be easy to get bitcoin without investment.
Baisically there are only the campaigns that can deliver bitcoins without putting money in it.
You will not become rich from them, but it's a good start.
Baisically earning bitcoins is like every other way of earning money.
You need skills somebody needs that is worth paying for.
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If you use a mixer, then you don't want anybody to be able to trace your bitcoins back.
Reasons for that can be that you are really a very private person, or that the source of those coins was not very secure.
From all I know the fees using a mixer are much higher than those at exchanges.
Personally I think that mixers are not necessary for an average person.
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Maybe bitcoin cash will be the payment form of bitcoin, and bitcoin will be the investment form of it.
With the increased blocksize bitcoin cash could handle the transactions faster.
And for bitcoin as an investment not so much transactions would be necessare anyhow.
The problem I see is that if bitcoin cash would become more valuable, it would turn out to be an investment itself.
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I do not think that it will be bitcoin that replaces the tools we have at the moment.
I suspect most of thr transactions will still be made in a fiat currency.
What can happen is that somehow the blockchain technology will be adapted by the banks.
That is something they are currently working on and I have no doubt that we will see this on the market soon.
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Hey,
I am right now a little bit researching about financial stability and monetary policy.
It seems that monetary policy through a central bank is pretty important for the global financial stability.
For example if there is a financial crisis, central banks try activly to stabilize the financial system.
If Bitcoin would replace fiat money and such a crisis would occur, wouldnt this lead to long term financial instability?
I think that is exactly the point why no country should invent bitcoin as their only legal currency. Bitcoins value is completely determined by the market. And the market is ruled by businesses. What businesses care about is their own business. Although they should have some social responsibility, the people way too often play an unimportant ruole in their plans. A governmant should focus mainly on the well beeing of its citizens. I really assume many of them try. To manage that you have to be able to influence the market. So you need a fiat that is controlled. |
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That is too high a speculation for bitcoin in less than 5 years.
With logarithmic growth and very limited supply (more than 75% of bitcoins have already been mined), it's really not unreasonable at all. But it's highly speculative. There are existential threats (such as multiple forks and network splits) which, from the the perspective of Metcalfe's Law, could significantly damage Bitcoin's network value. At the same time, I think it's pretty clear that new money will be flowing into cryptocurrencies in the coming years. I'm confident that Bitcoin will eventually be worth six figures USD, but how it gets there and how long it takes are very unpredictable. I think that a lot of the new money will come from businesses who are searching for investment opportunites. Insurances and fond, especially once this whole etf thing is approved. Unfortunatelly, businesses tend to create bubbles because they have to reach certian numbers in earnings. I think as well that number of average people who enter newly to crypto world will decrease. Cryptocurrencies, I think that something for the technical interested people or those who eager to try out new things. A time will come when that groupe will already be in bitcoin/crypto. So no new growth can come from that side. How that combination will turn out, we must wait and see. |
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I think we need both, the fiat and the crypto.
First of all, with what shall I pay offline when I only have crypto? Nobody in my area accepts anything else than the regular fiat.
I would die of starvation because I could not pay my food. And that would be unpleasant.
Then you have to keep in mind that fiat exists for dexcades while crypto is only active for some years. Crypto is still in experimental phase.
But of course, the crypto currencies might be the future.
It would be foolish to ignore the potential they offer. Especially when you consider the recent events of increasing prices.
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Who in FBI holds Bitcoin? FBI isn't a person and only Individuals can hold Bitcoins.
If there is a party trying to control Bitcoins it's China. USA can be watching it, but I don't believe they are trying to have control over it or anything similar...
The US Marshals Service (US federal agency) had custody over the Silk Road coins and other bitcoins that were taken in various seizures and later auctioned off. If the US government held bitcoins like gold reserves, I'm not sure which agency would be tasked with holding custody. Which agency handles the gold reserves? The treasury? In fact, where can we find out how much gold the US government is holding? This is public information, right? If the government is holding bitcoins (beyond asset forfeiture-->auctions), you'd think that should be public, too. Hmm, checked it now. They hold Bitcoins from criminal activities but auctioned the Bitcoins next. I think it's hard to hide information about it. They must say how many Bitcoins they seized, so they must auction the same amount. It would be easier to be bribed, so there wouldn't be records, but I don't think FBI does this kind of thing. I think that the FBI as a company will do everything strictly by the book. The coins that fall in their posession will go to auction. For the individual agents there, I'm not so sure about it. I suppose it must be very tempting if you find a bitcoin wallet with access data that is filled with money coming from crimes. If some of them want to make some extra money, honestly I can not blame them. Especially when you consider the source where it is coming from. |
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The writer of that article compares bitcoin to tulip bulbs.
He brings the story how tulip bulbs increased their value and lost it again because too many were produced.
That is not bitcoin!!!
Bitcoin is limited, and that is where this whole article has its flaw!
He should do better research next time!
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The reason to hold bitcoin is very simple: because you have a dream.
The dream of financial freedom.
Many of us here secretly think that in a few years even a small amount of bitcoin will be enough to have enough money for the rest of the life.
There are these prediction that the price for one bitcoin can reach 100K within the next decade. And one decade, that is a time span many of us can wait.
That is the motivation to keep your coins.
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Market Capitalization is a number without much use.
What matters is the price you get at the moment for one share of whatever.
The whole market capitalizatzion gives a theoretical number that would come out if everybody would sell the coins they have right now.
But if everybody would sell, the price for one coin would be completely different than for what it is sold at the moment.
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China is already a super-power. Right now, there are only three super-powers in the world. They are the United States, China, and Russia. There are a few countries such as the United Kingdom, France, Japan, and Germany who used to be super-powers once upon a time. I would call them ex-superpowers.
No, China is a Global power but getting closer to a superpower. Right now the Chinese lack the global power projection that the US has, mainly military bases in other countries, lots of carrier fleets allowing for "global" air-force capability, and a relative lack of treaties and organizations with their neighbors. Russia and China don't exactly like each other, or at the very least they put on their own shows for the rest of the world and only co-operate to get rid of the US hegemony. Russia is a regional power; they really lack the projection capabilities that the US and China have but they do make up for it by being relatively effective with regional or slightly removed regional conflicts. basically the only two powers are the US and China now, and China relies a lot on the US trade to maintain their social structure. I am pretty sure that China will dominate the second half of the 21st century until at least far into the 22nd. If you think about where China was back in the 80s and how quickly they managed to develope in the last 30 years you get an idea how far they will bring it in the next 30 years. Their big advantage is the big population. For a successful society you need smart guys, workers and so on. Chaina has more than enough from each of them. |
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I think this might affect the community ,, but it will require a lot of money for advertising on tv
30-second or 40-second ad spots will not be very effective. How are you going to explain the entire Bitcoin payment system in just 30 seconds? A better option would be to make a movie about Bitcoin and Satoshi Nakamoto. I am not talking about documentary movies such as The Rise and Rise of Bitcoin, and Deep Web. I am talking about a movie in the line of The Wolf of Wall Street, complete with the leading Hollywood actors. I do not think you would have to explain much in a spot about bitcoin. It's more about getting the brand bitcoin known and keeping it in the public notification. The research about how it works, that is something the people have to do on their own. I would say that even a 5 second commercial where people read nothing more than a phrase like 'I pay with bitcoin' would be a great benefit. |
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It depends on how necessary that money is for you.
If you say that you would invest that money anyway into something, then go ahead.
If you think it's a good way to make profit in a short time because you need the profit, be careful.
I would not see bitcoin as a short term investment.
To be on the safe side, I would calculate with some time to sell it again.
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I am really wondering what is going to happen when bitcoin is no longer used as payment.
What will happen to companies like bitpay?
And will the shops stop accepting bitcoin when nobody uses it?
How would such a scenarios influence the price of bitcoin?
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I think just in the case of the bitcoin cash split, the fork probably has some value.
After all, it's a split from the dominant currency.
Bitcoin has become a brand and it has public notification.
A fork from bitcoin inherits in my eyes some of the brand value of bitcoin.
At the same time the brand value of bitcoin stays the same.
If the value of bitcoin cash realy is as high as it was/is of course there are different opinions for that.
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