There are two types of Bitcoin whales;

1] Trading whales -

2] Holder whales (e.g. Roger Ver, Satoshi, etc) -

You are directly referring to 2] where you are basically answering the question yourself for a certain part already. The main reasons of them not selling any of their coins, or at least not a significant amount, is indeed out of fear for the government. But also the fact that they strictly believe in the future of Bitcoin, in the way that they can become some sort of an elite at some point in the far future. This definitely goes up for someone as Roger Ver.

Another reason is that a significant amount of their stash is sitting unknown in a huge number of different wallets. Imagine what would happen if the governments notice you have been declaring your wealth wrongly to the tax agency for years, and later turns out that your wealth isn't $50 million for example, but $250 million. It will be a direct hit of tens of millions $$ including fines at everything.

I never add any value to such predictions. Mainly because of the fact that 99% of the times they are way off with their predictions. Speculating about prices far higher than $1000 doesn't really make any sense as we are still a decent amount below the $1000 level. Right now we should focus on reaching the $800 level, which already can be seen as a more than difficult target. The fact that we are only ~$30 away from reaching $800 doesn't change anything in that regard.

You know what the great thing is here? It doesn't have to happen. And if it doesn't happen, no one (beside noobs) will get disappointed as we are sitting at more than decent price levels right now. People hoping for $1000 to happen this year are either living in a fantasy world, or they think we can reach the $1000 level as easily as was the case in 2013.


Not many times I can find points where I agree with you, but this is definitely one of the very few. I am also expecting a decent correction to happen any time soon. I go for sub $700 to happen before the end of January.

Even if all stores were accepting Bitcoin, then it will receive its Bitcoin related revenue from Bitcoiners, and not the average person that is still using fiat. You know why? You first have to obtain Bitcoin through whatever way in order to start spending it. With fiat, you can spend it right away with zero fees. So tell me, why would a non Bitcoiner even consider taking the step to buy Bitcoin, and then spend it when he can purchase everything with fiat already? It's an unnecessary extra step that doesn't make sense.


Fiat is a horrible store of value, and I personally find that it shouldn't be seen as such where the value part does not make any sense as fiat currencies around the world only lose value. So yes, Bitcoin is the leader in this aspect, but I have already pointed out this feature to be more important in the coming years. People are looking to escape this slavery system. Bitcoin is perfect for that.

Realistically speaking, we will not hit the $1000 level this year. If we want to experience a sustainable growth, and we're definitely on the right track to achieve this, then we must be preparing ourself for $1000 prices somewhere in mid 2017 to end 2017. This year comes way too soon. If we indeed happen to reach $1000 this year, then we'll be heading towards the south within a week. We all know that peaks don't last. I much rather prefer to wait a year where we have the price stay above $1000 for a decent amount of time, than reaching $1000 right now where after that we'll be facing heavy dumps which will be very time consuming to recover from.

Bitcoin isn't any different from money, and especially not when it comes to how people use money. In that regard, yes, Bitcoin is in fact being used for all kinds of shady purposes. But the same goes up for fiat currencies around the world. The main point of attention is that we shouldn't blame the tool for being used in a wrong way, while people are the ones that should be blamed and punished. Look at cars for example, you can drive with it from your home to your working place, or you can drive your car into a crowded bar where you can kill plenty of people at once. Do we have to blame cars for that? Nope. Same is the case with Bitcoin and fiat, and all other things that can be used as currency tool.

Bitcoin growing too large to the point that it can damage a certain economy, will indeed result in heavy actions by the government. But I don't think that the price reaching levels into the higher thousands will do much, unless they notice that people use Bitcoin (magnitudes more than is the case right now) to hide money, or to transfer wealth from one country to another. That's when governments will definitely take serious actions against Bitcoin. But not to the point that a total Bitcoin ban will become reality. Can't see that happening.

Regular people that you are indirectly talking about, don't even make a dent in the price. It's a group effort from whales that gets the price to move into a certain direction. I am already happy with how the price has been trying to build itself around the $750 level. Not long ago it was a point where heavy resistance was preventing the price to smash through $750, and now we're finally over that point. The only question is how long will it last? It doesn't take much for certain large traders to dump out of boredom.

Bitcoin itself isn't directly being taxed, but if you think logically, then Bitcoin isn't any different from money or anything else with value. The main point is that it adds up to your wealth, and over your wealth you have to pay tax every year. It also goes up for the profits that you have made with Bitcoin. You must pay tax over that as well. However, it's your honesty here that plays the most important role since you have the choice to declare everything like should be done, or to keep quiet about your Bitcoin holdings. That's also one of the main reasons the IRS has been asking Coinbase to release all kinds of information regarding its users. If you don't declare your coin holdings yourself, they will do everything to chase you down.

It's basically what cex.io has been doing for a long time already. No matter how you turn it, hash shares are a horrible investment as the difficulty only goes up in numbers, and thus the price of these shares only get lower. You'll need to treat it as a short term investment where you benefit from the fluctuations. It's an easy way of making money for HaoBTC, where they can increase the maintenance fees to such a level, that the small part that gets credited to your account for every found block, will vanish nearly insantly.

It depends on what kind of usage you are talking about when you say that Bitcoin is popular in wealthy countries. If you look at the currency aspect, then wealthy countries will have less incentive to use Bitcoin as currency tool as their fiat based payment platforms outperform Bitcoin in any possible way. If you're talking about the store of value aspect, then yes, more and more people are realizing that storing a part of their money outside the banking and governmental system is the way to go. People in poor countries have way less access to internet and capable devices, so in that regard it's easy to assume that the overall usage there is lower than for example in better developed countries.

People have different forms of trading. If you look at Chinese exchanges with zero fees, then it is perfectly suitable for ultra fast traders benefiting from even the slightest price change. If you trade with 3BTC and you sell these coins at $3 profit each, then it will be $9 which is peanuts. But if you do that with at least 500BTC, and then several times a day, then do the math. It will make you thousands of dollars every day. Doesn't sound all that bad, right? If you do that 100-150 days per year, or even a full year, then you'll be a very happy person where you can quit your day job as this will be your main source of income.

Yes. If you do not answer and show proof to everything they are asking for, they will put your money on hold for as long as their investigation is running. Funny thing is that I just came from a different bank. I signed up at the bank I am talking about because my previous bank told me to immediately stop using that bank account in combination with Bitcoin. But in general there is not much difference between banks as they are subject to the same laws.

Everything above the $700 level is a more than decent price for the majority of the people. If we happen to reach the $800 level, which I don't think will be maintained for too long, then it's a welcome bonus. Don't forget that a correction from a decent level is imminent at current prices. Nothing only goes up without experiencing corrections from time to time. It will make the market healthier, and allow people that have got in at far below current levels to secure profits, where after that we can focus on going up again.

There are indeed several ways of buying Bitcoin without a bank account, but mostly they are not that convenient. I personally prefer buying Bitcoin with my bank account as it is very easy and I receive my coins instantly. If you want to buy Bitcoin with cash money for example, you first need to find a person in your area that you also can't trust (high trust rating on sites doesn't matter), then you have to talk through the deal where you set a time and date, then you have to wait for one or more confirmations depending on the size of the transactions, etc. And then I didn't even mention the possible steep fees that people charge for selling coins. Too much hassle.

Even when things look logical and are very likely to happen, then still there is a fairly significant chance that it will not happen. It's a market that is being controlled by a few very wealthy entities operating from several exchanges at the same time. If they want us to slowly glide into a long lasting bear market, then it happens. If they want to push the price to +$1000 levels, it will happen as well. We move in their desired direction as a bunch of sheeps and feed ourself with the crumbs left by them.

Sure they do. I have opened a bank account recently where I had to fill in details as to what my salary is on a monthly basis, what I think I will receive on my bank account from sources other than my job salary on a monthly basis, what my previous monthly saving amounts are, etc. All kinds of annoying questions. I sent a certain amount to this freshly opened bank account from the one I was about to close, and oh man, it took me 2 days to convince them that it was my own money that I have been saving throughout the years. All this because of all the Bitcoin related transactions in my previous bank account.

Things aren't easy nowadays. If you at the time of signing up for a bank account have stated that you expect to receive like €500 per month from different sources (other than from your job), but there are a few months that you receive far more than that, they will contact you where you better have all details they want directly, otherwise it can take days, perhaps weeks before they complete their investigation.

The younger generation knows more than we think. They are well aware of all the tech related things which Bitcoin is definitely one of. But then there is a difference in understanding what Bitcoin really is. Some people do give Bitcoin credits for all its fantastic features, while others still think it's some sort of a ponzi scheme.


Bitcoin makes it indeed very easy to gamble as there is no need for verification, but that's basically also the case with fiat based gambling sites. You can sign up with fake details, but the negative point is that they then can't withdraw as they need to send in scans of their ID. Or they can use the details of their parents if they want to start gambling so badly. There are enough ways to bypass restrictions.

Privacy aspect is definitely a big plus when it comes to paying with Bitcoin at porn sites. But another major aspect as to why Bitcoin is perfectly suitable for being used in this case, is that you can avoid being sucked into recurring monthly bills with credit card and other payment methods. Bitcoin allows you to pay for one month or another term, without the possibility of the site in question charging you automatically for another period.

.co domains are a great alternative to .com domains, and mostly attract a decent amount of traffic as people tend to mistype the .com equivalent of the .co domain. Beside that, Google is also indexing .co domains nicely compared to other domains.

Starting bid is and will remain 0.05BTC and not a Satoshi lower!