Amazing, there were discussions back in 2012 when it first touched $400 that it'd touch $4000. Almost 5 years but this rally from East Asia is crazy now. If Australia hitches on, we can see it hitting $4000! Of course, theres the other argument that regulation will make it a damp squib because of authorties being able to check and tax it.
We might have already hit the $4,000 mark, if the competition from the alts such as Ethereum was not there. We missed the $3,000 mark by a whisker in Bitstamp. It touched $2,980 per coin, and then the prices crashed by some 20% in a matter of around 15 hours. And I really doubt your optimism about Australia. It is a small country, with a small economy. Australia can't be compared with a country such as Japan. |
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It is not the price, but the market cap which matters. The major fiat currencies such as the USD and the EUR are having a market cap of around $1.5 trillion. Right now, Bitcoin is far behind. But as far as Bitcoin is concerned, the total number of coins are limited by the principle of controlled supply. So the prices indirectly matters, as they are proportional to the market cap (unlike the case with USD/EUR).
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It is never too late to invest in Bitcoin. But before you decide to make an investment, you need to ask yourself a few questions. Some of these are:
1. In the future, can the lack of consensus on SegWit / BU affect the wide-spread adoption and usage of Bitcoin?
2. How the competition from altcoins such as Ether and Nemcoin are going to affect the exchange rates of Bitcoin?
3. How the future government regulations are going to affect Bitcoin?
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That may be true. But I do not believe Ethereum will last long. Sooner or later the price has to go down just because that's what the market is doing.
Now the growth of ETH is growing rapidly, it will become competence. And based on this always bitcoin stands first.
But look at the current transaction fees. If the problem in transaction costs will not be solved then maybe it will happen quickly
The basic issue remains. The number of unconfirmed transactions might have decreased, but as the user-base expands, this issue can once again become active. And other crypto-currencies such as Ethereum and Ripple are making the maximum advantage out of this situation. The future looks bleak. We may never have a consensus, and the situation will remain in a state of suspended animation. |
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The shadow (grey) economy is huge in India, and here Bitcoin can become quite useful. Even during the recent demonetization exercise, a lot of people were showing interest in Bitcoin and the other crypto-currencies. And now with the tax authorities cracking down on real estate and bullion sectors, people are running out of options to store their unaccounted money. Bitcoin is one of the few remaining options.
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I don't think that both can co-exit in a "peaceful" manner. Because if Ethereum attracts more number of users and investment, it is definitely going to be detrimental to the future of Bitcoin. Both the currencies serve the same purpose, although the technology behind them may be different. The main application is in the transfer of money and in making payments. Here, both of them are competitors.
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This one seems to be a major correction. I am looking at the Bitstamp exchange rates, and the prices have crashed from $2,980 per coin (earlier this day) to around $2,500 per coin right now. Even now it is declining in Bitstamp. Looking at the rate of decline, I won't be surprised even if Bitcoin hits $2,000 or even lower.
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Why Yobit is mentioned in your post? As far as I know, it is not a Chinese exchange. They are based in Russia, and almost all the staff is from Russia and the other former-USSR nations. And regarding the Chinese exchanges, I would have liked to recommend Bitfinex, but recently they had some isssues with the fiat withdrawals. So, I would rather go for BTCC or OKCoin.
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It is not very surprising. Almost all the exchanges are increasing their withdrawal fees now. I suspect that rather than trying to increase the revenue, they are trying to discourage the users from moving their coins to somewhere else. Just a few days back, I saw a post here claiming that Kraken increased the withdrawal fee to BTC0.0025. That is just insane. $7 for a single withdrawal?
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I am also a little bit confused about the Google Authenticator. I want to use that app, as I read somewhere that it prevents 99% of the Bitcoin hacking attempts. So my question is, can I install the Google Authenticator on two devices at the same time? For example, I am having an Android phone, and a laptop. Can I install this app on both the devices, and use codes from both?
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$100,000,000,000 market capitalisation looks great, but it's small compared with world economy and it's not the accurate way to calculate cryptocurrency growth since the price is unstable and dominated by altcoin without real value or innovation.
Obviously you can't compare this with the market capitalization of fiat currencies such as USD and EUR (which is around $2 trillion) or that of the major corporations (the market cap of Apple is $750 billion, and that of Google is $650 billion). But we need to remember that Crypto-currency is still an emerging sector. It is the growth, which is important. |
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Make a fee between 200 till 400 satoshi if would help you faster for confirmed. Just info for my experiences.  I don't think that is needed now. The transactions are getting confirmed much quicker now, and a fee of 100 Sat/Byte may be enough for instant confirmation. I just checked the blockchain.info stats, and the number of unconfirmed transactions now stands at around 30,000. This is perhaps the lowest number we had in the last 2 months period. |
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I am in no fashion a litecoin whale, with that said...
what the fuck is dash and monero or a couple other crapshoots doing that litecoin can or can not do, the prices are crazy, I have followed crypto for a tad , and do not feel like a newbie, but the prices of some coins are absolutely insane Litecoin has been around for quite some time now, and its user base is either dormant or declining. Even the recent spike in the crypto market capitalization has failed to boost the LTC. I am afraid that the big whales who were supporting LTC earlier have shifted their loyalty to either ETH or XRP. Right now, LTC is devoid of any media spotlight and despite its obvious advantages such as faster confirmations, the user base is not expanding. |
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I just hope that ethereum in 5 years were meets the value of bitcoin. Also I'm looking forward that ethereum were strongly increasing their amount even they hasd some issue that need to solve immediately.
I am not sure about the exchange rates, but it seems to me that Ethereum might be having a larger market cap than Bitcoin, by 2022 or 2023. Ethereum has managed to remain in the game despite several setbacks (such as the creation of Ethereum Classic and the robbery from DAO wallet). As the saying goes, what doesn't kill you makes you stronger. |
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Can someone please explain Ethereum to me? I've been reading and trying to understand but am very confused.
Is it an altcoin? Is it dependent on Bitcoin? They say that it works hand in hand with Bitcoin, but how?
My understanding is that it is just a blockchain that can be used for developing software - but is ether a coin or is it real estate on the Ethereum blockchain?
I'm not interested in technical bla bla bla.. I just want some explanation in plain terms. What is it?
Yes. Ethereum is an altcoin, and right now it is the biggest altcoin in terms of market cap (and also in terms of the number of users). And you are right about its link with Bitcoin. The exchange rates seems to be dependent upon that of Bitcoin, as most of the trade volumes are coming from BTC-ETH trade. But recently I have noticed increasing volumes for the ETH-USD and ETH-EUR pairs as well. |
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Definitely coins with great support, and good daily volume of trade , everything else is gamble, and cannot be considered as an investment with such risk. ETH so far looking most potent, and probably is best opportunity currently.
ETH were seems to be in demand now since btc fees get expensive, ETH whaving a great potential to increase more in time ETH has emerged as a major competitor for Bitcoin. Its market cap is now almost 70% of that of Bitcoin, and if the problems (such as delayed confirmations and lack of consensus on Segwit) persist with BTC, then ETH has very big potential to become the no.1 crypto-currency. The user base is also increasing at a faster rate, when compared to that of Bitcoin. |
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Byteball may be one of the low priced altcoins with big potential in the near future. They are conducting air drops every month, and a lot of people are taking part in those. Stellar Lumens are also conducting an airdrop this month, and they have even tied up with many Bitcoin exchanges for the same. These coins have big potential, as their current market caps are less than $1 billion.
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The more people get attracted to bitcoin and usage gets high the prices of bitcoin is going to increase drastically. This is because the number of bitcoins is fixed. also, everyone can do their job and invest in bitcoin or other crypto-currencies. It is not advisable to quit your work and sit monitoring your investment. The best option to me is to get a bot
But there is a major problem with this. The block size is fixed at 1MB. As the number of users rise, we can also assume that the number of Bitcoin transactions will also rise proportionately. Even now, the delay in the transactions is a major concern. Imagine what will happen, if the number of users, and the number of transactions increase by, say 10x. |
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There is a major flaw in the current methodology for market capitalization calculation for the crypto-currencies. The issue is that the lost coins are not excluded while doing the calculation. As a result, the market cap is artificially inflated. According to some estimates, there are at least 1 million BTCs, which are "lost" for ever. By lost coins, I mean coins for which the private keys are not available with anyone.
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I don't think that a lot of guys use credit cards in Africa. The multi-national banks are also not very active there, due to the higher risk of fraud and political instability. So there are few options for mobile and online payments. If Bitcoin uses this opportunity effectively, then it can capture a major share of the African online payment market.
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