We are a part of the Crypto bubble the internet bubble 2.0
Crypto is following the same trajectory of the internet. The internet was created and then a couple years later start ups started to pop up.
Bitcoin was created then a couple years later start ups are starting to pop up.
How big do you think this bubble will get?
I think we are in the early adaptors phase. I mean, still today, many people have no clue about wallets, bitcoin transactions etc.. New technology is generally adapted slowly.. it took a while until there were lightbulbs in every house hold, it took a while until there was a train network in the US, I think the same applies to cryptocurrency. Such things never happen in an eye blink, in a few years I think bitcoin market will be 4 to 10 times the current size. we are moving towards singularity though. how long did it take for the internet to become ubiquitous? what about facebook? i know bitcoin is not the same thing as facebook or the internet, but we're talking about mass adoption here. i don't think bitcoin can grow as fast as facebook or the internet, but it can still grow faster than we expect. |
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Only time will tell I guess but Bitcoin has a big expectation by a lot of people and I'm not quite sure that it will live up to those expectations. but like I said only time will tell.
Only here does it seem like that.. Most people think BTC is a made up valueless peice of something they don't understand that hackers will "print" billions into existance of. I think 1 mBTC will be worth 1 million during the peak of the bubble... Things will be bad.it's quite ridiculous to insinuate that 1 bitcoin will go for $1 billion dollars. seriously, all paper currency would have to no longer exist for that to even be a remote possibility, and then some more. that's probably more than the the whole assets of the U.S. if there are 12 million bitcoins now, then that's 1 billion x 12 million. this is bias bitcoin evangelism here. |
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I have heard of BTC getting returned...but the person being actually physically caught...I haven't heard of any big time stories of that...
Pirateat40 is currently on trial in the US after running a 700,000 BTC Ponzi scheme on this message board. what, really? there's a guy who was able to get away with 700k btc? that sounds pretty funny though, especially when you take into consideration his.. username. |
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another thing to note: ghadafi did his seedy shit 20 years ago, but he was an "ally" at the time.. so he got away with it. he does the same shit before he does, but now he's against accepting USD.. so he ends up getting killed. US has a strong headlock on its currency.. that's how they are able to be so dominant.
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While technically not a country, I would choose Antarctica because while they say it's colder than Hell, I assure you it's not.
any area on the planet will be colder than hell though. |
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Bitcoin IS a currency
It's a perfect example of a fiat currency, just like the USD is a fiat currency.
ANYTHING a group of people AGREE to accept in exchange for goods and service is by definition a fiat currency
No, fiat currency has value because it has been declared to by a governing body. Bitcoin is not fiat. wtf, i didn't notice that he referred btc to fiat. he might be parroting a term that gets thrown around a lot, without knowing its meaning. not sure if he knows what that term means http://en.wikipedia.org/wiki/Fiat_moneyFiat money is currency which derives its value from government regulation or law. It differs from commodity money, which is based on a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange. The term derives from the Latin fiat ("let it be done", "it shall be").[1] bitcoin can be a bit confusing because it's a quasi everything.. it can be a currency, commodity, store of value.. why can't we just call it that? it's not 100% a currency, not 100% a store of value.. it has bits and parts of many kinds of assets. |
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Bitcoin is presented as a currency to be used on a daily basis. A stock is an entirely different instrument which is not meant to be exchanged for value often, but generally meant to be an investment that is held over time.
You can't compare the two. And there are lots of stocks that are much less volatile than bitcoin. Someone in finance can give you the hard numbers to back this up as well. Volatility is measured, and even without the hard numbers a simple look at many popular stock charts over the last 5 years will show less volatility than BTC.
well, in that case, i'd like to see people stop comparing bitcoin to the internet.. because they are even less similar to bitcoin than stocks are. |
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^ he's new, might just be trolling. paul ryan is a terrible choice. he wants to cut spending domestically, and then he wants to take the money saved to spend on an already ballooned "defense" industry. basically he wants americans to pay up so his friends can make more money off war.
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yeah that's the new model since world war 2.. it's better/more efficient to play economic wars and sanctions than it is to send ground troops to their death. problem with proxy wars in the middle east is that there are so many factions that might turn on you, so you could be wasting your money on giving them those arms and training.
Even if some of the factions turn against you, you can recruit some other faction to wage the war for you. No matter how powerful these factions are, they can't survive without outside support. it's not like the US is the only outside support. they could go to U.S. enemies and ask for funding, like russia. who is ISIS backed by now? i believe it is now the saudis? and china is slowly becoming a world power.. i wouldn't be surprised to see it play the proxy war game. and syria seems to have an alliance with russia. Of course, Russia doesn't want Bin Ladens near it's border so they support the present Syrian government. Russia has many allies and are still an enormously powerful country. If it wasn't, the US would be invading instead of sanctions. i doubt the U.S. would be invading. since WW2, i can't recall of a developed nation trying to invade another developed nation (then again, russia did it to the ukraine.. but there's so much media attention on it). russia is certainly powerful especially with its oil exports, but i think a bigger deterrent is that it has nuclear weapons and capabilities. |
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yeah that's the new model since world war 2.. it's better/more efficient to play economic wars and sanctions than it is to send ground troops to their death. problem with proxy wars in the middle east is that there are so many factions that might turn on you, so you could be wasting your money on giving them those arms and training.
Even if some of the factions turn against you, you can recruit some other faction to wage the war for you. No matter how powerful these factions are, they can't survive without outside support. it's not like the US is the only outside support. they could go to U.S. enemies and ask for funding, like russia. who is ISIS backed by now? i believe it is now the saudis? and china is slowly becoming a world power.. i wouldn't be surprised to see it play the proxy war game. and syria seems to have an alliance with russia. |
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The geopolitical situation in Russia border and middle east suggested the prologue for WWIII has started.
You are right that war is like an evolution, it starts with only a few countries - but we are not yet in a situation of total war. Of course, the financial crisis will be a big motivation for people to join in a war - once it reaches the point of no return. financial crisis will give countries not to go to war because countries will need to spend more money to prop up their economies at home so they can't be spending money on war i don't know, the americans went to war in WW2. the economy still was anemic due to the great depression, yet america profited from the war like no other nation in the history of mankind. but then again, it seems like a lot of the consequences in ww2 really weakened european countries. |
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btw, there was some guy who used a brain wallet and had his money jacked. he went on reddit, and the guy who took the btc returned it.. this happened about 1-2 weeks ago.
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I would like to believe that WW3 will never happen. Most of the super-powers have realized that waging war by proxy is much better than getting involved directly. But that said there is still a 0.00001% chance of a major battle starting between the superpowers.
yeah that's the new model since world war 2.. it's better/more efficient to play economic wars and sanctions than it is to send ground troops to their death. problem with proxy wars in the middle east is that there are so many factions that might turn on you, so you could be wasting your money on giving them those arms and training. |
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I'm sick and tired of hearing this over and over.
Bitcoin has a "Market Cap" of 8 billion dollars where the perceived "value" hangs by a thread almost all the time. What regulation will be passed? Will China ban it? OMG Amazon takes Bitcoin. OMGWTFBBQ the banks are shutting down accounts. Add to this the huge potential of Bitcoin itself and you have a recipe for volatility. This is not a bad thing! Price discovery for Bitcoin will continue for a long time.
Stocks regularly gain/lose huge percentages of value, do you ever hear that there is a "volatility problem" with the stock market? NO
This perception that Bitcoin cannot be a currency because it is so volatile has to stop. It IS a currency now. The volatility is caused by normal price discovery on something that "could" change the world.
Is anyone else sick of this?
they don't swing as violently as bitcoin, which is the point. bitcoin can lose 20% of its value in a single day. with stock shares, it doesn't drop that fast. dropping 10% in one day (say going from $600 to $540) is not really out of the norm for bitcoin. if a stock dropped by 10% in one day, it would be considered a crash. |
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i once knew an asian girl in college who was raped while out on a date.. i asked her if her parents knew, and she said no... because they would end up blaming it on her. people can be really backwards sometimes.
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they do lots of honor killings too.. they are just really backwards. the chinese also blame their children for getting molested as well.
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i'm surprised that no one has attempted to harm or even kill him - a lot of people lost a lot of money after all. i'm not advocating for this though, especially since i was never crazy enough to use mt gox.
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would it really be world war? or would it just be russia against the world? maybe china would even get into the game, but those two guys pitted against of the might from the US + europe ... is just no match.
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This is pretty interesting. It is amazing that bitcoin is more popular than the original internet in terms of VC investment! information gets around much quicker these days than the early days of the internet... perhaps because of the help from the internet itself. |
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