For me i think it is created as business but now this is not only a business this will be like charity that all people can get money by doing some work in bitcoin and most of the users now are doing investment
But could somebody create something that powerful being inly inspired by some ideas of business and stuff? I don't think so. I guess rather it was planned as a charity, anti-governmental project of the manifestation of human will and then became something used in business. |
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Taking into consideration that 2020 is the year of the next halving I would say that the price will be around $750 just like it is now. Due to the general fiat inflation the costs on electricity will rise which is crucial for mining. New block of btc will make mining even harder as well. Thus there must be some time of crisis.
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Interesting thought. So those who have a lot in btc don't exchanging it, because thus they protect it from the governmental control? I doubt any government would buy so many bitcoins. It is too risky for their own economical situation in the country, their own currency will fall and the the btc will fall, because it is all theirs.
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I do not think that this is possible to be honest because the banks are way too big but also too powerful right now!
Exactly. Although I believe in btc's potential I think that if we speak about banks then rather they will make btc adjust to it. So nothing is killing anything but btc will appear in the banks and thus lose its anonymity and spontaneity (because it will become possible to control it). |
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Well, I guess the OP is right about most of us and yet we must remember that some people invested money in some projects or casinos and so their income depends on the price of btc now and for them the more the better. And what about sig campaign owners? They will have to start paying a lot more in btc and thus risk to lose a lot of money as well.
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I think the results must have changed during all this time the poll was on. Not btc is rising but I think $750+ is too much if we consider buying bitcoin. Wait for some time, I think it can still drop to $500 or so. Well, I guess I'm not adressing the OP now, he must've already made his decision, but those who are now thinking about similar things.
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I've read here a lot about "Gambling doesn't make you rich" So I thought about it, and it does make sense. So what do you feel about gambling then? Just entertainment? I think that's not everybody's mindset.
In the back of my mind, I want to be rich but not because of gambling. But when I gamble, I still always want to win. So when you always win, you become more rich and more risk will be involved. Anyway, if I would earn a winning bet that would have a lot of profit from, I would withdraw the initial bet or the bitcoins I deposited to get it back, then still gamble.
If you would have a winning bet that would give you a lot of profit, what would you do with it?
I agree it doesn't make you rich at all. Some may consider it to be an entertainment, others still believe they can become successful. What do you mean when you say 'a winning bet'? You mean just accidentally winning during betting and so the question is about money and what can we do with it or about some winning strategy? |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
Firstly, why are you saying that 'unlike fiat money it actually exists'? Where does btc really exist? This is just an illusion we can continue believing in and so it works, whereas fiat money is at least regulated by the government and something actually existing in our empirical world. Secondly, these complications wouldn't occur if btc was instead of everything. People would recieve the salary in btc and they won't need fiat. |
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I have exchanged btc but also only with family members and friends. I sort of know it must be safe to make a deal with smb from localbitcoins and bitcoin is not illegal in my country and yet it seems risky to meet a stranger and do the thing. Another thing is that exchanging with a friend is usually good both for you and him/her whereas dealing with strangers you'll always lose some money.
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My answer is yes and the supposed time is year 2020. Reason: btc has already been $1k and then it dropped to $300 or so. Big operations with btc stolen and halving are two things which are likely to make the price go down. Another thing is electricity becoming more expensive in poor countries trying to integrate into EU and stuff which is happening in my country now. If electricity is not cheap then mining is unprofitable, the whole process stops and btc explodes.
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Yeah, I get the feeling 2017 is definitely going to be a good year for bitcoin. Maybe we can get to $1000 and perhaps to the ATH, which is $1200 or so. Those milestones are possible, and the air is definitely a-crackle with electricity.
Well.. I think there are no big reasons in this year for btc to change its price much. No halving, no major btc involving projects occuring.. I think it will just stick around $800 till something happens. Somebody may steal a lot of btc and then the price will go down or some btc charity or something can make the price rise. |
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I think it is just a hypothesis and it's even not very likely to happen. There is a possibility bitcoin and will encourage companies to avoid taxations and other cryptocurrencies may strengten the process but if there are no taxes how can states exist? State is a treaty between people and the ruler. They give him resources and we guarantees some safety. Without taxes there won't the resources and so the anarchy will come.
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Calm down. I guess the governance will inevitable come sooner or later but this will destroy a part of what bitcoin is. Bitcoin is a currency which you can use anonymously and without paying any taxes. Why does the government has to know the money we have if we can't really know about their sums, houses and stuff? Bitcoin brings some freedom to all of us.
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Depending who are "we", it's not possible to manipulate bitcoin price. If you don't have a lot of bitcoins or if you don't belong to a group of rich bitcoiners trying to control it, you can't manipulate bitcoin price, you are a small investor.
The only thing you can do is to take advantage with the big whales moves, follow them and you will have a higher chance to make profit.
Actually it is very possible, you can see the proof on the news about China imposing capital control, bitcoin price goes down. People pressing on the halving issue, bitcoin price goes up. News about bitfinex hack, price go down. Good news about Segwit, price go up, some criticism about Segwit and how it will affect future bitcoin procedure, bitcoin go down. See, if people can play with the media, bitcoin can easily manipulated. I would not say that it is very easy. Yes some media influence on the course of Bitcoin is, but it is not decisive. Therefore, I believe that the price of Bitcoin manipulate people who have little Bitcoin is almost impossible Yes, of course big sum has to be involved. But media can do that. If there are good reasons to sell btc given, a lot of people with small amount can do that and that is how we get a big amount needed. I offered an experiment on this forum to check if we can make the price change but there weren't many people who supported me. |
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Some of the points which I can think of includes but not restricted to it: -
learn finance and try to understand the difference between need and desire.
Reduce redundant expenses.
Keep some fund for an emergency.
Keep investing rather than keep spending.
I totally agree with this one. Specially investing rather than spending it through that your money will grow fast. Alo I guess trading will keep your money grow too. Being wise on growing money is not bad just not to be greedy on having it. Trading is a risky road to choose. When you just earn money you basically can't lose. You can only half-lose if we speak about the money you could've got but didn't. Trading requires some investments and even if you are not greedy you can lose sometimes and thus I think we can't say it is something helping to manage money at all. |
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Bitcoins can be used for good especially when people who are GOOD use it. Well, we know that there are a lot of bad people that use Bitcoin for illegal transactions whether it's for drugs, ammunitions, firearms, etc. I guess we just have to put good faith to the people who's intentions are for the GOOD. I hope Bitcoin would be used for financial transactions, it would really benefit the payor and the payee without the help of a third party, so the transaction fees are less. As for the researcher, Rachel O'Dwyer, Money Talks. This is the new money of this era. The blockchain technology still has lots of potentials.
All the legal activities for which we are using bitcoin are good deeds. Like if you are using bitcoin for shopping for your children, if you are using it for fulfill your other daily needs then these are good deeds for which you are using bitcoins. In general bitcoin is here to serve us to have a good life. So basically we are using it for having good things. If you buy alcohol using bitcoin I am not sure whether it is something good you do. And porn is here as well. I think really good things are charity funds for hospitals, orphanages and all the stuff like this. And bitcoin can be used for such purposes as well. |
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the fact that these people (and billions like them) will never, ever be able to afford to 'mine' so much as a single bitcoin?
Okay, maybe mining is not the best solution for them. But are there really so many people without access to the Internet? Anyway, bitcoin is useful for people from poor countries but in which there is internet nearly everywhere. With the above in mind, is there any fundamental difference between a 'bitcoin miner' and a bank?
Well, a bank is not usually producing the money itself. Secondly, you need to be indentified in a bank but can mine btc without many people being aware of that. Why do we pretend that virtual 'coins' are scarce when they very obviously are not? Why do we pretend that they even have to be 'mined' or 'earned' in any conventional sense?
Because thus, creating a simulacrum we can become independent from the government in real life and turn btc into the real goods. |
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I hope what OP says won't really happen. It is dangerous to buy btc now if all that appears to be true, because we can buy some now and the the banks will make the price grow, we will appear to be rich and so they'll do their best to track us down to find out how comes there is so much money and no taxes payed or something like that..
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This all sounds like Illuminati nonsense in which I don't believe. 2008 crisis started from subprime mortgage crisis in the USA and people may have not noticed that this is really going to happen, you know. Some currencies may be supported by banks but bitcoin can still stay independent as long as it is not becoming too popular.
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I have nothing left so far. I don't work full-time, though and live in a Post-Soviet country as well. I hope after I finish my studying I'll be able to get some other money and leave it for other case. I think 10k per year is actually very good, I know people working full-time and earning 300$ per month and they have nothing left.
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