Market is moving in a repetitive manner, so I don't expect the market to behave much different from how it has been in the last days. It of course doesn't mean we won't see a large green candle tomorrow, but if it happens, then it won't be sustainable for too long. It will be a decent opportunity for day traders, but that's about it. We all know what goes up fast, comes also down fast, so don't put too much fait in this event.

Governments don't have to recognize Bitcoin as legal currency in order to charge tax. It's actually very simple, it basically doesn't matter where you put your money into. Whether it's you having a certain amount of your wealth in oil, Gold, Bitcoin, paintings, cars, etc, it doesn't matter. What matters here is that all of the mentioned add up to your wealth. Over your total wealth you have to pay a certain amount of tax, which of course differs per country/state. Same goes up for when you sell all before mentioned with profit. Then once again you are subject to the tax policy that is set up by your local government. No way to escape unless you don't declare any of your Bitcoin holdings.

ICO's can turn out to be quite profitable, but plenty of these ICO's have been nothing more than a disaster for people investing in them. It's a gamble with a super high risk that you must be willing to take. Especially when you consider that like 98% of all the ICO's are fake/scams. It's a plague. The only people that really benefit from this are the "developers" and the people close to them. It's just shocking to see that people are willing to flush their precious coins down the drain by "investing" in ICO's...

It's always the beginners that find themselves in the losing position as they don't know what to do. And if they know what to do, it only lasts for a day, where after that they once again change from strategy. In that regard, you can't really call them holders. If you talk about holders, and I am referring to people with balls of steel, then no matter what happens, they won't freak out if the price moves big time into a certain direction. Even stronger, if the price heads down big time, they buy up more coins to bring down their average buying price, where the profit in the end will be even greater. That's how it should be done.

People are slowly making their way to Bitcoin, but it's still mostly due to the volatile nature of Bitcoin, where it goes up and down a few hundred $$ several times a year. And then I am not even talking about the massive bull runs that result in a double price. I have seen people around me talking about Bitcoin as they have bought themselves 0.5BTC and some even more than a whole Bitcoin. But if you look at what they know about Bitcoin, then it's shocking to tell you that they don't know anything. It's pretty difficult to explain them things as for them this is a gamble rather than a well thought out investment plan. Interest in potential profits 100%. Interest in technical aspects of Bitcoin 0%. It's almost shocking...

Underperforming in what way? If I look at the charts starting from the year 2000 till where we are standing today, then it has gone up from ~$230 to ~$1200 right now. That's not really what I consider to be underperforming, unless you were talking about something else.


Bitcoin is a far better store of value tool than Gold if you ask me. One of the main benefits is that you can hide it without anyone noticing. With Gold you either need to buy a massive save, or walk your Gold into a bank vault where you rely on a third party to take care of everything. You can transfer it instantly to anywhere in the world which isn't possible with Gold that people hold in physical form. And there are more benefits of course. That's why I certainly hope that Bitcoin will turn out to be a better overall store of value tool (for me it definitely is), but it will be difficult to convince the massive amount of stubborn people that still think Bitcoin isn't real because they can't hold it in their hands.

Because you then rely on a third party to control your coins. It's an unnecessary extra step where you expose yourself to various risks. But if you're fine with that, then it's your choice of course.


Exchanges have indeed messed up big time, so in that regard, I think you have a decent point there. It's impossible to trust the current incompetent exchanges as they continue to mess things up. I even consider banks to be more trustworthy than all these shitty hobby run exchanges. That's the exact reason high level institutional traders won't jump into Bitcoin. They don't feel safe wiring multi millions to these exchanges, and I can't blame them for thinking like that. That's why we need a professional platform that allows these traders to bring their millions to Bitcoin.

Never say never, but I don't rule out massive crashes from the level of going from +$1000 to -$200 in a relatively short period of time. Mainly because of the fact that this market is, and will always be subject to plenty of drama. One time an exchange gets "hacked" where the price starts tanking heavily, and another time fud news from China makes people sell like there is no tomorrow. It's no coincidence at all that it mostly happens after the price has gone up. It's a planned attack where the people behind it are making millions time on time again.

Bitcoin won't reduce the use of fiat money. Especially not when it comes to using and spending fiat within the country. Fiat's position is simply too strong for that. If you look how easy it is to complete purchases with fiat, where everything is instant and free, plus everything you buy gets insured as well, then it doesn't leave much room for Bitcoin to gain ground in that regard. But it's not a problem at all since we know that Bitcoin is just an alternative currency/tool. Bitcoin's growth will come from other aspects where these are the main features;

# Investment aspect.
# Store of value aspect.
# Money transfers aspect.

For me these are the main reasons of me being in Bitcoin. Currency aspect (as in using it for shopping) was never an appealing feature for me.

It's indeed not possible to force Bitcoiners to pay tax, but there are certain policies/laws where Bitcoin isn't directly being mentioned, but it's without a doubt that since Bitcoin isn't any different from money, that you have to pay tax over what you hold in Bitcoin. In that regard, there is no real difference in having $100,000 in cash, or $100,000 sitting in Bitcoin. The point is that we are supposed to declare every bit of our holdings and profits in a honest manner when filling in our tax reports. But since there is no way for the government to surely know whether or not we own Bitcoin or made profits, we can just keep our mouth shut and don't declare anything. I don't think there are many people honestly declaring all their holdings. It's just not smart to do so.

I don't understand what you think is so interesting about gambling that you find it worthy to mention as being a source of income? Because it's definitely not. I see a lot people here talking about them seeing gambling as a fantastic way to make money. It's nice and all that you have the chance to make decent profits, but do you guys even think about the risks of losing everything? Because that's exactly what will happen at some point. It's inevitable unless you have plenty of luck at the beginning and hit bank, where after that you quit gambling entirely. But that's not what's happening in reality as people always continue to gamble.

Gold has been serving as a valuable tool/currency for thousands of years. No reason to think it will change in the coming hundred or so years.


Where you get that confidence from? Gold is an asset that mostly functions as a very long term store of value tool, where even governments are using it for that purpose. It's not for nothing that certain countries have been accumulating billions worth of Gold in recent years. Bitcoin is purely there to serve as an alternative. Bitcoin has turned out to be a great store of value tool as well, and it has been a fantastic investment tool, plus it has been a great tool to transfer money from one place to another. That however doesn't mean it will "destroy" Gold and turn into the number one investment tool. Calling something the number one investment tool is way too relative, as it then will need to outperform each and every investment, every year. Bitcoin is still having plenty of room for growth, but that's simply impossible.

No way to answer that this early on. But I am ready for whatever comes towards me. That being said, I still add value to what BTCC chief Bobby Lee said about the price to possibly reach $1500 this year. I personally don't think we'll touch $1500, but a swing to $1200 or perhaps a tiny bit higher is definitely a possibility. Not long after that the price started to move up heavily where it peaked over the $1100 level. I am confident we'll experience the same thing once again this year. And yes, it will be followed by a massive dump, but I hope we'll be able to sustain $1000 after that. That should be the target for 2017.

Article about BTCC can be found here; https://bitcointalk.org/index.php?topic=1703672.0

Nothing is going on. As easy as the price goes up some times, that easy will it come down again. In that regard, current price increase doesn't say much as we very well may fall back $50 lower again. If this increase is somewhat of a start, then perhaps we might very soon see +$900 prices, but then again, how long will we sustain these levels. Don't forget that the closer we come to the $1000 level, the more nervous and anxious people get. They are constantly ready to press the sell button as they have their exchange page open nearly 24/7.

Bitcoin can't make banks disappear. But that aside, it will never happen, but even if 80% of the people on earth make use of Bitcoin in one way or another, then it still doesn't mean banks will be outruled. Banks have a fixed position in the economy, also in benefit of the governments as they via that way know what level of wealth each person has, etc. Bitcoin will definitely grow in the future, but more in the way that the store of value and investment aspect will be the main reasons people make use of Bitcoin. Also don't forget that money transfers are important as well. But if you look at how it is to do your local shoppings with Bitcoin, then it's simply not interesting and convenient to use Bitcoin due to the confirmation times and increasing transaction fees. In that regard, fiat will still remain the main tool of people for their shoppings. Don't forget that a lot people simply don't see anything in Bitcoin, and thus won't be using it. Getting even 1% of the world population to use Bitcoin in one way or another will be a very difficult task.

It's easy to say and think that people who bought their coins back in 2009 that they are selling their coins at current levels. If you for example buy your coins priced $0.50 each, and you see the price jumps to $5-$10, what would you do? Cash out or save for when the price reaches $20-$30, or even $50? In the runup to reaching the magical (magical back then) $100 level, people have been selling their coins for the major part. If you look back, then there are just a few people who managed to keep holding their coins no matter what. These people are now banking heavily where they genuinely can call themselves multi millionaires.

I must admit that I was one of these people expecting a correction to happen at $800-$900-$1000. Why? It would make sense since the price was going up way too fast. In that regard, people expecting a drop to happen at $800-$900-$1000 were wrong as the price peaked at over $1100. That's why it's always a smart thing to secure profits in small steps (5% per time in my case). That's exactly what I did. 5% at $800, then 5% at $900, and then 5% at $1000, and then 5% at $1100, which resulted in me almost cashing out at the top. Finally after going above the $1100 level, the price started to correct. So, even though my predictions turned out to be wrong several times, I managed to sell on the way up pretty well.

It's impossible to develop a certain strategy when it comes to the regular gambling games as everything there is just luck that you depend on. In some cases there are certain strategy based games that casinos seem to offer, but I don't know till what level skills matter here. Casinos won't allow people to develop skills to a level that they can beat the system. So in that regard, even in that case luck is a crucial factor. Gambling should be avoided if you look to earn money. It's funny how people constantly look at the potential profits that can be made with gambling, while they blatantly ignore the higher chances of ending up with zero...

Never doesn't exist when it comes to Bitcoin. And to me it seems you are living in a fantasy world. No way we can end this year with experiencing $2000 prices. We can't even manage to maintain the $1000 level yet. And I am fairly sure that when we go over $1000 another time this year, that once again it won't be sustained for too long. It's a combination of greed in the first place, where it later turns into fear. Exactly this fear will be the main reason people will dump like there is no tomorrow when misunderstood fud news pops up. Big players know that, and thus constantly keep exploiting this weak point of a lot people here.

Could be, but you have to consider that investing black money into all kinds of things with value has much more priority than having that money sleeping in bank accounts. In this case I am more referring to black money gained through criminal activity. They won't mind the volatility of Bitcoin that much as they realize that the growth potential is also offering a helping hand. It's a good way to hide black money, plus it can turn out to be a fantastic investment as well. Same basically goes up for other wealthy individuals, but they treat their money with a bit more care, and thus look for the least possible risks when it comes to hiding that money.