I kinda agree with that. If you wanted to buy yourself some coins to benefit from the current price, then you should have bought your coins a few months ago. Right now with a serious correction coming closer and closer, there isn't much more to gain than reaching the $800 level, where after that we'll be facing heavy dumps. Best is indeed to wait for this correction to kick in. Patience is the main point of importance right now.

It was a soft comparison, and not a direct hit. Nothing prevents web wallets or exchanges to hand out bank-like features such as loans, or exchanges that allow their traders to loan out their coins through the exchange's platform (which is already a reality). The main fact is that people still take the term "Bitcoin bank" way too serious. They see it as an official institution which it's obviously not.


If the fiat monetary system is being hammered on, how would that not translate into the real world economy experiencing the negative effects as result of that? They are closely tied to each other.


Correct, but that's not how governments look at it. Especially when it comes to something as Bitcoin that they have zero control over. In that regard, they are better off creating their own digital currency with the exact features of Bitcoin, but with the government as central point.

Money of course, there is nothing special or shady (hidden) about it. Before I started trading Bitcoin I was into stock trading. At that time my aim was to come close to generating around 20-25% in profits per year. I was quite satisfied to realize such growth as the interest on my savings account was just sitting around 2% annually. Easy choice for me. The last 3 years I am solely trading Bitcoin, where I have been managing to at least double my initial amount every year so far.

These are the profits I have made so far with trading;

2014 ~145%
2015 ~210%
2016 ~150% (year is not over yet)

Imagine if I was continuing making like 20-25% per year through stocks... My wealth at this point would still sit far below the 2014 levels.

Trust in banks only goes up to a certain extent. Mainly because of the fact that people have not forgotten about what has happened in Cyprus years ago. It's an extreme example, but it's something I don't completely rule out to happen in other countries as well at some point in the future. It's not only the banks that you have to worry about, but also the governments. In that regard, you have to focus on more than just one aspect of the system that we are sucked into. We're stuck. Bitcoin gives us a decent amount of financial freedom as it allows to store a part of our wealth into it. Even if something happens like has happened in Cyprus, then there is nothing that the government can take away from your money in Bitcoin. That's the best thing.

You seriously have no idea what you are talking about. You compare traditional banking to a service such as blockchain.info that might call itself a Bitcoin bank. Because that's exactly what it will be. Look at Xapo, Coinsbank, Coinbase, BitPay, these services can also be seen as a Bitcoin bank. Governments will never support something that goes against all their values and potentially can do a significant amount of harm to their economy. This is something that a certain number of people still haven't realized.

It doesn't make sense for the government to confiscate Gold as result of a ban. Especially because of the fact that countries themselves are the largest holders of Gold. That's a scenario you don't have to worry about. In that regard, it's much more likely for governments to put a ban on Bitcoin. Bitcoin has the potential to disrupt their entire economy and banking system. It's very easy to transfer wealth from one country to another instantly 24/7. If you take that in mind, then for the governments there are only negative aspects.

Nothing can replace Bitcoin (altcoinwise). Mainly because of the fact that Bitcoin suits the needs of the majority of the people. People don't need gimmick features that altcoins are offering. People just want the simplicity of Bitcoin. So far, there have been plenty of so called (according to people) "Bitcoin killer" altcoins, but they all haven't done anything significant other than functioning as a speculative investment tool. No one with a well functioning brain think that altcoins have the ability to replace Bitcoin.

Bitcoin isn't wanted as it allows people to enjoy financial freedom, but that's however not the case for the technology that powers Bitcoin. If you look at how much money is being invested in researching and development of their own version of the blockchain, then it's fairly safe to assume that they like it a lot. Some countries are more paranoid than others, but in general, no country likes to see money flowing from their country to another. As soon as they notice that serious amounts of money are flowing out of the country through Bitcoin, then they will surely put a stop to it at some point.

In some cases there are indeed great developers behind a coin, but the far majority of the altcoins are either just copy and paste coins, or they are bought for a certain price. I am mostly referring to these coins. The people behind these coins are making people happy with empty promises, which is something that you can see as misleading and even fraudulent. They hire someone to make their site look good, hire someone to make their ANN thread look good, hire someone to do communications, etc. That's the moment when the ICO is popping up. That's the real deal nowadays..... Easy money for the operators of these schemes.

You have to seperate transaction and withdrawal fees from tax that you may or may not declare every year to the government. In the latter case, even though Bitcoin isn't directly being mentioned as tax deductible in many countries, it doesn't mean you don't have to pay tax over everything you hold in Bitcoin. It adds up to your total wealth, plus the profits that you make are also subject to a general tax law. In short - Paying tax over your coins is a must. It's however up to you whether or not you declare everything honestly.

That's not a decent way of making an investment. Especially when you have to take in mind that all your profits/income will be gone if the people you rent the house or apartment to, break down/damage everything heavily, or they will grow weed in there. That's quite a common thing in this part of the market. Too much hassle, too much headache, too much legal work, all kinds of taxes, etc. I never understand why people are willing to expose themselves to so much risk just in reward for a tiny profit. It might take decades to earn back/double your money if you do this.

Due to the number of altcoins (ahumm... shitcoins) available, and their more than volatile nature, you can indeed hit the jackpot if you chose the right coin(s). But I don't consider this to be investing or trading at all, as it has far more similarities with gambling. Some people say that they research altcoins first before they start trading or investing in it. Seriously, what information do you gain from "researching" something that is only getting used to get pumped and dumped from time to time? You either invest and make a more than decent profit, or you invest and be forced to hold the bag. It's just luck that you depend on.

Gold is mostly used as a store of value tool that people rely plenty of years on, and not as an investment where people get crazy returns as is the case with Bitcoin. In that regard, this comparison doesn't really make sense.


It depends on the way you are using Bitcoin. Yes, with just a certain fee, you can send out plenty of transactions at once, but pools nowadays aren't as easy as they were more than a year ago. Look now, if you send out such a transaction, and your fee is just 0.0005BTC for example, but the byte size on the very high side, then they will surely skip your transaction as they can include 10 other transactions where they generate 0.0025BTC in fees, instead of your transaction that they would only gain 0.0005BTC from.

Nobody using Bitcoin is because most likely no body is accepting it as payment option. It won't hurt you to simply list a Bitcoin payment option alongside the other ones. Especially because of the fact that when no one is using Bitcoin to pay for their product or service through your business, that it won't cost you a single penny. There really isn't a reason not to accept Bitcoin. You are right now missing out on potential revenue. You're a business, so you should make your products or services as accessible for new customers as possible. Go ahead and do it, don't wait.

It depends. If the transaction value is below $30, and you include a more than decent/appropriate fee, then it will most likely get accepted without any confimations. But if you're stingy on the fees, or your transaction value sits well above $50, then you'll surely be forced to wait for at least 1 confirmation. But then again, in this regard, I don't consider Bitcoin to function very well. It's great to complete online purchases, but not when it comes to completing payments in physical stores. Especially when it comes to larger amounts as you'll be forced to wait for at least 1 confimation.

Bitcoin isn't any different from money beside the fact that it has certain advantages compared to using fiat online. But we can't really expect people to only use Bitcoin for good purposes. Money gets used for everything bad and nasty that you can think of, so in that regard, it's fairly safe to assume that exactly the same is happening with Bitcoin. That's why we shouldn't make a big problem out of it since there is nothing we can do about it. Everything with value can be used, and is being used for bad things. If you want to throw with blames, then you should blame people for what they do wrong, and not the tool they use.

Uh, no. Next major target is still $800 at this point. After that the target won't be reaching $900, but settling above the $800 level which on itself is already a more than difficult target as nothing comes easy with Bitcoin. $800 could be broken this year, but to see a price anywhere near the $900 level, we must wait for 2017. And yes, that might take months as there is still a significant correction that experienced traders are waiting for. After that, the price will be able to rush up further. As long as this correction has not shown up yet, we shouldn't expect much from the price.

I have done it quite frequently, but only to family and friends. Quite often I have offered them a 10% discount just for the sole purpose of getting them into Bitcoin. But I can tell you one thing, I would never sell or buy any coins face to face with strangers. That's my number 1 priority rule of what I will never do. If you do it like 10 times, then 9 times it might turn out to be a successful deal, but one of them might not end in your advantage. The more you deal with strangers through whatever site, the more chance of facing someone with bad intentions. That's why I simply don't do it. Better safe than sorry.

People are just securing profits. They have been doing that at the time the price jumped from a few bucks to like $100, and it still happens. Did it impact Bitcoin negatively? Nope. As long as the demand is increasing, which I am sure it will continue to happen in the coming years, then we'll be enjoying the higher going price for a couple of more years. Especially when you consider that the store of value aspect that allows people to store money outside the banking and governmental system, is only getting more interesting in current times where people get sick and tired of the interference from governments. Bitcoin is the ultimate safe haven tool.

It's funny that when people talk about reaching $1000 that they see it as an easy thing (which it's obviously not) that might happen this month, but when they talk about $500 it's next to impossible to see such prices, while the difference to reach both levels is not that large ($230 to reach $1000 and $270 to reach $500). It doesn't only depend on whether or not we'll see another major exchange getting "hacked" as some people say. We can very well land into a bear market that is pushing the price slow but steadily towards $500 prices. Realistic possibility since the price can't only go up.