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No disrespect for the elder, but if you see anyone older than 60 talking about BTC, start doubting. I mean the biggest investor of all time, Warren Buffet, has absolutely no idea of what's going on. They are just ignorant as hell and can't blame them. This is a generational change, one of those things that older people just can't wrap their mind around. It's like the internet, it will take decades until you see older people using it.
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The problem with Plan B is that unless you want to accept worthless Drachmas in exchange for your BTC, most Greeks don't have access to their Euro wealth right now so they don't have much to offer for bitcoin.
The only way to stop this absurd vicious circle is start accepting payments directly in BTC to have an actual economy, instead of having to rely on some stupid fiat currency to then convert to BTC with probably annoying fees etc. |
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http://www.coinfox.info/news/2408-bitsokoSeems like Bill Gates finally went from "Bitcoin is good, but not good enough" to fully embracing it. Im glad people slowly come to their senses and deal with the fact Bitcoin is indeed good enough.
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It's going up hugely. No doubt. As public acceptance inches closer and closer due to the poor economy in the EU aka Greece, and the situation of China's stock market tumbling, Bitcoin has made an exceptional increase in price. I expect it to go further up in the upcoming months, along with the other popular altcoins (LTC and DOGE)
Im very tempted lately to buy some BTC and DOGE, but lets not kid ourselves here, those are still pump and dump coins that will take advantage of BTC's recovery to trick people into buying. There's definitely a lot of BTC to be made out of them in the next months, im sure they will pump pretty good. |
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The OP is lacking a couple of updates. I saw the IamSatoshi documentary 2 weeks ago, yet this is still noted: "Satoshi Pollen is a channel by pollen_bit with a lot of interesting interviews, panels and conferences. Unfortunately funding for his documentary "IamSatoshi" hasn't reached its goal." |
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I recently saw the documentary "IamSatoshi" and it was a good watch, but I usually enjoy more entire lectures without any edits than films. For example id rather watch 1 hour of AAntonopoulos talking about consensus mechanisms. Hope this film is good.
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If you look at how few people there are who have bitcoin and how much of the bitcoin is owned by whales you will see that there is no way to make i stable. A single whale can break the whole economy if he want.
Not unless he has tens of thousands of coins and also a fat wallet of $$$. You see, the bitcoin ecosystem isn't only comprised of a single whale that would decide bitcoin's price. There are many of them swimming around, playing mind tricks against each other. There is no way that bitcoin's price will be stable for longer than a month, given that there are whales constantly playing with the price. For whales to stop being effective with their manipulation we need seas of normal people moving tons of money daily. The bigger the volume the more useless the whale planned pump and dumps will be. This process is a gradual one and takes a lot of time with any new currency. |
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Simple solution: put your encrypted wallet.dat file inside a .7z (7zip) encrypted file with the same password you used on your wallet.dat file, so you don't forget it.
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I would spend probably less, why, well simple, because saving money would finally mean something, as opposite to saving money in a currency thats constantly on a hyperinflation state.
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Honestly i've been skeptical ever since we started going upwards from the 250 range, as that seemed to be the standard high price for the day for the last few months, which quite frankly I was happy with and had begun to accept as bitcoins value, but i'm just curious as to if anyone has a good reason to believe we will hold these levels ($20 either direction) from actual usage or see a substantial drop.
Greece issue appears to be resolved, I'm seeing the more recent news being China is rebounding (personally I see more of a downturn, but I honestly do not know enough about it), with the Greece resolution we won't see reports about puerto rico everyday lol, and the fed changes there mind every damn second so screw it. I also caught glimpses of the uber rumor being denied, which is sort of sad as uber and bitcoin have some similar principles, and it didn't appear to impact the btc which is odd, as normally bears jump on that shit.
Try to not be a troll thread for once lol.
Are you here for the long term because you think Bitcoin will scale up to challenge every single electronic payment infrastructure existing today + all the other features that the blockchain can do? Do you believe that the current marketcap is ridiculously tiny compared to what it can be achieved with this technology? Then hold. Are you scared to lose your investment because you aren't sure of that? Do you want some quick beer money? Then sell. You and only you can choose. |
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I just visited the bank... denied until Monday.  Global adoption can't happen soon enough, what a crock of shit this fiat banking system is. I had some problems friday trying to send a transaction overseas, and I was told to "please you'll have to wait until monday" without any details on what went wrong. You can imagine my frustration. Banks do indeed sucks and are deprecated as hell in this post-Bitcoin reality. I can't wait until Bitcoin scales up to defeat all those dinosaurs. |
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If this would be happening 10 years from now, make no mistake, we would be having tons of tons of money coming into the bitcoin ecosystem way before the capital controls started (Which is where you want to do those kind of movements, now when you are limited already). People will learn from their mistakes, future generations will not get trapped into being some old dudes making long queues to get some hyperinflated fiat limited to x/daily. They'll know better, Bitcoin will be insanely strong and powerful and full of features and easy to use, but right now, nope, it cant do the job. Remember that we are still pioneers, people is lagging behind us for a decade or so, and we will be compensated for our long term vision.
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I lost 0.2 BTC back then investing in "MazaCoin". It was supposed to go to the moon, but it went underground. I held all the way down scare to try to reduce losses right when it would start going up.. I managed to even buy at the top.. what a waste of money that was.
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Somewhere I heard that, cyprus was a wealth heaven, during the crisis the wealth was exported using bitcoin. I don't know if would be the same scenario with greece.
Nothing really needs to happen inside Greece, it's the rest of the world speculating about what can or cannot happen that can drive the price nuts. Now more people are aware on Bitcoin and what it can do vs back in the day with Cyprus, this only means the potential bubble could be bigger, hopefully setting a new higher ceiling (every bubble will set a higher ceiling pretty much add infinitum until like 2030 or so when the inflation aspect of BTC starts being tiny). |
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I don't think this is going to stop unless active actions are taking against it by the devs. It's someone with an agenda, a rather positive one, to push the devs to come to terms and do something about this. The LTC fix should have been deployed days ago, even if it was an update that only did that alone.
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My core has been better since 0.10 actually, but still, it's way too heavy on the ram, it's to slow, it's a pain in the ass unless you have an SSD big enough to hold the entire blockchain and enough ram and fast CPU to not fall asleep while new blocks get verified. This limits a lot of people that would like to run a node but can't be bothered with it because of that.
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The main problem Bitcoin faces is the scaling it up issue, its no coincidence the blocksize debate as been one of the most heated debates over software of all times.
Once this gets solved next year then we'll march towards 1K floor prices.
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it is not possible for fiat money to disappear. the world cannot funtion only using virtual currency. and most of the people do not trust on virtual currency. and it will also be difficult to exchange bitcoins for day to day purposes. it can be helpful in many ways but due to certain boundation virtual currency cannot be only currency used
How will it be difficult to do so in the future, its easy as hell right now? it will be even easier. In the future (not so distant) there will be physical cash, so the idea of paying with smartphones will be widely accepted. Once that idea is ingrained within people's minds, the idea of using Bitcoin instead of some goverment issued e-currency scam will be a natural one. |
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That is the key word here: The norm
Bitcoin is not the norm as long as visa/mastercard and debt cards are what the majority of consumers use for their everyday transactions.
Is bitcoin widely accepted?? No. The credit cards are.
How can Bitcoin be widely accepted when it's still not ready to be scaled and people don't even know what it is. It's like complaining that the internet isn't widely accepted in 1990 and physical mail is better than email because tcp/ip will never scale up. |
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The most important fact i like about the bitcoin is the freedom of my own wallet. I mean using a currency without being liable to any system. That's just Virtual Gold man !
Yes, it's a very good feeling, it just feels good on yoru brain. I hope that more and more common non geek folk start getting that feeling as well. It just feels great to have value that can never be stolen from you unless you make a mistake yourself (not having your computer clean, not saving your paper wallet, lossing passwords..) but it's all you. You can never suffer from bailouts, goverment incompetence or whatever, it's your wealth, and it's worldwide, you can bring it with you, it's a very nice feeling, specially when the price goes up and up too  |
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