I would wait another day or two to make sure the current Bitcoin rally isn't still going, before I would invest in Zcash. There is a chance we could see another bump, but more than likely the price will continue to drop. (In my opinion.)
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I have a feeling that bitcoins doesn't really circulate in the economy. Most of the time, bitcoin is being kept by hoarders expecting for a price increase. Because of that, only a fraction of the available coins are in circulation; ret are kept on cold storages.
I don't know if there is any way to get this kind of information, but I would be willing to bet a lot of coins haven't moved wallets in a long time. (Maybe you can get stats about the total available bitcoins, versus the amount of transactions per day and average transaction amount and get a rough estimate.) Most Bitcoin owners are just sitting with coins either in wallets or on some kind of exchange. If we want to create more users and increase the price of BTC, this will have to change. Bitcoin needs to actually be used to purchase goods, transferred back and forth between people, if we want it to expand and become more popular.
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Sending a board to philipma1957 would actually be a really good way to promote your product. Anyone who has frequented the mining section of this forum would see pretty quickly that he is trusted and knows a lot about mining. If you can get prove to him that you are shipping a decent product, you will get some purchases from other members for sure.
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I wouldn't judge an exchange based on volume. It's very easy for the operators to fake trades to increase volume, there have been accusations against many exchanges of doing this to make the site look more popular.
Plus the devs of a coin are often engaged in pumping their own coin to increase volume, even if they can't increase the price much.
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The same was the case just before the block halving. People were heavily speculating about the price to break through $1000 while we didn't even reach the $800 level. Right now we're in exactly the same situation. Beside that, the price doesn't move on good news anymore. That however can't be said about bad news. Even the slightest form of "bad" news can make people panic sell like there is no tomorrow.
Yeah I've totally given up trying to speculate the price of Bitcoin anymore. It seems so random these days LOL. I do think we can reach the $1000 mark eventually, we just need some new service to create more users. Hopefully the Mega sharing platform or something like that happens soon and exposes new people to Bitcoin.
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We haven't even hit $800. Not sure why people are talking about $1000. There is no big news or any announcement driving the price, so I would be surprised if it kept going up, honestly.
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Thats why the transition wouldn't happen overnight. It would take years, five or ten years at least, once a superior coin was established, (and you could argue it already has been) but money would slowly flow to other coins, and the price of Bitcoin would slowly go down.
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$55
I wish. My little Monero mining operation would finally pay for itself! I definitely think $12-15 is possible in the next few months if we get some official GUI wallets and convince some more sites/ vendors to take XMR in addition to Bitcoin.
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Average age is going to be 20s to 30s. There will be some younger in the 15 to 18 year range, and some users above 40 or 50, but the core user will be middle aged males.
This is the group that first adopts most technologies, so its not surprising. However, if we want Bitcoin and other cryptos to expand user base, we need to think about what it would take to get people outside these groups to get interested in the subject.
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For small investments, Bitcoin is much better. To buy stocks you will need a broker, or create an account on a site that probably charges fees. Unfortunately, buying stock is for people with a lot of money, usually. There are some companies trying to change the model https://www.loyal3.com/offers the ability to buy stocks without paying fees, but only for a few companies that participate in the program. I also recently came across https://www.robinhood.com/who promises to allow users to buy stock with no fees. I haven't used or seen a review of this service, so I'm not sure how they rate.
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The dream of the original creators is an amazing idea- come up with a new financial system where people no longer need government fiat currency.
The reality is that it will be a LONG time before this happens, and it probably will never happen, except for a few lucky people who were early adopters. If you bought a ton of BTC back in 2010 and were now a millionaire, you could find a way to never need fiat for the rest of your life if you tried hard enough. But the average person can't earn enough Bitcoin by mining, because that would take a huge initial investment of fiat anyways.
So for now its just an idea and an investment strategy for people who already have money to try and make a couple extra dollars.
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If the US dollar crashes, the world would be in total chaos. Countries would be fighting to see whose currency replaced the dollar, stock markets would lose a ton of value overnight, people would be scrambling to buy gold, silver and other precious metal.
The price of Bitcoin might skyrocket as people looked for a place to put their US currency before it lost all value. But the world's financial system would need to do a total re-adjustment, so there is no telling what the outcome would be.
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Always use 2FA if a site offers it. And if a site does not give you the option, move your money to a different exchange.
Still, don't keep more on an exchange than you can afford to lose. As Mtgox, Bitfinex and others have shown, its possible for hackers to get access and make off with coins if the security on a site is not tested and reviewed.
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Transactions getting stuck, users can't send coins, and yet the price continues to go up? WTF is going on with the price of BTC right now?
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No one is "getting rich" off bitcoin these days. You can earn some money, but you need to have something to invest first. You're better off investing in some new alt-coin if you're looking for huge returns. But that carries much more risk. Bitcoin might be the "safe" investment for long-term returns. Invest and be happy with a 10-20% increase over a few months.
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Wow Burst up almost 15% right now! (Not even taking into account the rise in price of BTC.) Any news/ developments?
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I wish we had some information on the amount of people the IRS has working on the Coinbase case. I doubt they could go after smaller accounts, they are probably only targeting the "big fish" on the site. Seems like it would take too much time and money to go after every person who made a few hundred dollars on the site.
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Yes that is a good point but we are all responsible for our own actions at the end of the day.
The harm effect on other people from ones drug use are normally associated with the drug user having to find the money to purchase illegal drugs, if the addict could just go to the local chemist and pick up what he needs then he would not be harming anyone but himself and even that is debatable .
Sure, it would break the chain. The drugs would be more affordable and easy to get in any pharmacy, less people would resort to theft and borrowing from gangsters to fuel their addiction. They'd be getting pure product instead of some unknown and sometimes deadly chemicals. Gangsters would lose their main income and governments would get more money from taxes. Yeah but you are missing the point. The governments don't want to stop drugs. They don't want to stop people from doing drugs. The "war on drugs" is big business. Police get to buy cars, guns, bullet-proof vests. Judges and lawyers get paid to take the cases to court. Private companies get paid to build the jails, house the prisoners and give kickbacks to the state. The "war" will never end. Just like the "war on terror".
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I've never used Livecoin, but I really don't like the format of Bittrex. Something about the way the site looks is very unappealing to me. It actually hurts my eyes.
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