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We still don't know especially this SegWit activation is still on its move, I don't know where this is for, it seems that they are not contented on what bitcoin is right now, though we must still have faith on bitcoin, that it will not waver even though lets say that this SegWit activation is really going to happen on August 1. What I'm thinking about right now is when they are going to launch a proposal again about bitcoin ETF, I can't wait this to be approved by the SEC.
I just don't have time to think about this bitcoin splitting thingy, because if you guys are going to think about it, you will just attract it and the possibility of it to be happen is going bigger and bigger.
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bitcoins are just like shells or furs in ancient times - of course they are not banknotes or coins, but it's money, because they have all the functions of money
I can consider bitcoin as a money because I can use it to buy some things like a regular money. It's a digital cash more likely convenient for anyone to use to buy things online. But it can also be use as a regular money because it can be cash out and one will receive a regular money that is equivalent to one country's currency. Thouh it hasn't been recognised as the universal currency around the world, it has been serving as a universal currency by the people all around just because of the conversion accessibility availability to any of the fiat currency of any country with uniformity in price varying with the exchange margins. Precisely, even though bitcoin is not that like what we are thinking, it is still a good source of income and a good way to be financially stable. Many people are asking when will be bitcoin going to be the world's currency, the answer is we still don't know since not all of the Government are thinking the same way on bitcoin, what we must do first is to fully convince the government to accept bitcoin. However it is not that easy to do because we still have a lot to do to prove that bitcoin is worth to invest their money or the money of the citizens for the progress of their own country. |
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Same here, I ignored bitcoin the first time my friend introduced it to me, I was hesitating that time because I might just waste my time on it having the thought that he was just kidding about earning money through it, and I just realized it last year. When I see my friends bitcoin wallet and do have a lot of money, that is when I've decided to do bitcoin and not to doubt it anymore. Because instead on posting on the social media which is a waste of time for me, then I'd rather post on bitcoin to earn money at the same time. |
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It is not bad to be addicted on bitcointalk since we are not risking anything valuable on this, we are just spending our time here to earn money, unlike to those who are addicted in gambling which are losing their money on it. Being addicted on this forum could make you rich, especially if you are going to be a full time bitcoiner here then I could say you are going to have a bigger salary, especially if you are a bounty hunter.
This addiction here is good to all of us, but we should still take care of ourselves, we should still get some enough sleep because of spending too much on this.
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I just try to find the major reasons for the very high volatility of bitcoins price we all encountered over the last years.
1) Exponential Growth ( in trust and usage)
It's clear this is a very strong reason to cause price volatility, since we have double and double of requesters that all needs to get coins from a scarce bitcoin supply.
So we see price squeezes all over the time (more up than down). Further we have no or lost experience with such exponential growth process esp in money (last adoption was gold some 1000 years before)
2) Evaluation Base CCY ?
I have the strong suspicion that bitcoins volatility is positive correlated to the volatility of the lowest trusted fiat currencies' volatility in the world.
Sadly I cannot proof this by averaging the historical volatilities of a 'poor's currency basket' of (Zimbabwe$, Venezuela$, Egypt pound, Jemen slotty, Syria Dinar,..xyz...) but I estimate, that we have same volatility there as in bitcoin. And all people living in those countries should be way better off with bitcoin and it's vola!
We just see and measure BTC/USD - volatility is high, but we forget where it's based on - on the poor ccys all together - but they are dominant here.
3) Heterogeneous Markets
We now have some 100 different exchanges and local places where you can exchange you bitcoin against any other fiat or crypto. There is no condensed order book / matching for a trade and limited arbitrage due to capital protection of some states.
I'd guess we'd see a fraction of the actual valtility,if we would have a (ideal) single world exchange, where all must trade BTC/USD (USD is just a default example for a world fiat and rest crypto ccy) .
Any other reasons you could see?
Bitcoin supply and demand will rate the volatility of the bitcoin value. As adoption rate increases price will move forward and if there is any market fall happens then bitcoin related business or project that time will see the dump in price. Precisely, because bitcoin would never be on where it is right now if there are no bitcoin users, investors, and so on, because of the demand and supply, bitcoin population is growing even more than we are expecting. Bitcoin is not popular to the ordinary people who only know fiat where they are getting their source of income. This volatility is the reason why bitcoin is giving us hope that someday it could make us rich because its price would be higher than the sky in the near future. If we are going to hold our bitcoin and continuing what we are doing right now, and not spending our bitcoin on the things that could be bought by fiat or something, then I could assure you that in the near future, expect that you are going to have millions of money in your hand. |
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To be honest I'm not spreading the bitcoin knowledge, I'm just mentioning it to my friends, but not to all of my friends. I'm just entertaining those friends of mine that I know that really interested on doing this job. Most of the time I've experienced this typical people who are only interested on the first time because they thought that earning bitcoin is that easy, they didn't know that it will take time to earn big in bitcoin. I'm thinking to have a Seminar regarding about this thing, that I will share it to anyone who is interested to earn money online with bitcoin, but of course if they want to go to the seminar, they must pay a registration fee, and then it is up to them if they will take it seriously or not.  |
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For exemple, I go to a coffee shop, I buy a coffee, then I pay with Bitcoin, we have to wait for a confirmation, no? or the merchant will just trust me if I show my wallet?
How can we be sure that it's not a double spent transaction or something else?
Bitcoin, today, is impractical to be used as a mode of payment because of the existing high fees and the waiting time for the transaction confirmations. It is much more convenient to pay in fiat rather than in Bitcoin. AS for you case, it will depend on the merchant if they will accept unconfirmed transaction or not. Double payment rarely occur since if the payment was sent to blockchain, most wallet gives a notification to the user that the payment was sent. And spending your bitcoins on this kind of stuffs is just a waste of profits, spending your bitcoin just to buy coffee for example? lol, it is better if we are going to save our bitcoin or if we are going to spend it for something then it would be better if we are going to convert it first so the profits that we could make in the long run won't be wasted. This double payment only happens if our internet connection is so slow that is why we are thinking that we didn't send the transaction yet but we already did, that is why we should be careful on sending bitcoins. |
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My plan for my bitcoin is to keep holding part of it and divert some for trading, I have a passion for trading and my belief is to trade part of this coin so as to make more bitcoin for keep.
I guess it is the most reason of all the bitcoin users, we are all holding our bitcoin for the more profits that we could make in the long run and the more benefits that we could make out of it in the near future. Holding our bitcoin is the wisest idea or the best thing to do than to spend it on the random things that we wanted to buy or to spend it on our everyday lives. Using it in Trading while we are holding it that way is a good idea also because we could have a bigger profits from holding and from the Trading profits. |
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as you think, cash even better than credit card, but we are living in 21 century, so it's stupid to think like you.
I don't know why are you guys are still thinking that bitcoin is better than fiat, we could easily see the difference in the price between the two, so yeah, thinking like what OP is thinking is so stupid. The value of bitcoin compare to fiat do really have a big difference that is why asking something like this is really a waste of time to answer, because obviously, fiat is better than bitcoin? LOL  There is a lot of things that bitcoin do have that fiat don't have, they are like the land and where the Sun is right now, that is the gap between the two have. |
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OP, it's more interesting to see how Bitcoin and the dark markets will develop and grow together. That is where we could see Bitcoin's real potential as a censorship resistant and decentralized form of value transfer. The "Bitcoin for the mainstream" is a lost cause in my opinion.
Bitcoin advantages should not be use on illegal things like this in the near future, because if this is the case then the Government will be against on this, causing bitcoin to suffer more about this scenario that we are assuming to happen. This is the reason why bitcoin is banned on some countries because of the illegal use of it. Bitcoin should be use on the things that could help use to rebuild this world that we are living, to a start a new one, a better one. In the information Age that we are into right now, bitcoin is one of the key to make a brighter future ahead of us, so we should use bitcoin is a way that we know that it will help our society and will not cause any casualties to us. |
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It's true that Bitkoin isn't supported in some countries. In my opinion, this is due to the fact that their economy is simply not ready for such significant changes.
It is not like that, bitcoin cannot change their economy just because bitcoin is legal to them, there will be many process before bitcoin could change the economy of a certain country. The only reason why bitcoin is not supported in some countries is because of the issues they do have about bitcoin, some of the people on their country are using bitcoin on illegal activities and other illegal stuffs. Buying drugs, illegal firearms and so on is the reason why the Government of some countries banned bitcoin and not supported bitcoin. |
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Transaction delays does make a person want to sell or purchase Bitcoin though with Bitcoin transactions having a negative impact on the price, the price of bitcoin will only affect the price short-term. There is a general view that Bitcoin will have a very expensive price in the near future and the cost for the transactions are nothing compared to it right now.
Transaction delays is because of the too many transactions in the blockchain that can't be processed at the same time, this delays of transactions is not affecting the bitcoin's price. But the fluctuation of the bitcoin's price is the one affecting the transaction fee, the more the bitcoin's price is increasing the more the transaction fee is increasing also, and yeah, in the near future, the transaction fee would be higher more than what it is right now, but it is not that expensive since the bitcoin's price will also increase. |
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What use is Bitcoin if in 9 years you cant even buy groceries with this shit
You cant build a business on bitcoin because of the volatility and even if you try to runa business on bitcoin you have to wait forever for a transaction to be sent
whats the point of bitcoin, if you cant do anything with this shit?
Bitcoin is not meant to buy groceries and for your daily usage,if you think bitcoin is the only high volatile coin,check the rest of the crypto coins ,i think you are not meant to be in the crypto universe as all of the coins are really volatile ,there is no point in using bitcoin if you think you do not have a role in using it,no one is forcing you,you can move on to other things.  Typical people be like. They thought bitcoin is for everything that they need in their everyday lives, which is wrong. Bitcoin is a very valuable money which is not for everything that we wanted to buy because we want to, we are throwing away the profits that we could make out of it in the long run if this thing is what we are going to do. We have to be wise on where we are going to spend our bitcoin, on when we are going to convert some of our bitcoin. It is all about making the right decision and being humble, having bitcoin doesn't mean you could buy anything you wanted, be a mature person and think if we do really need to use our bitcoin or not. |
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As soon as majority of the world is informed and knows about digital currency, what do you think will happen? No matter how good it sounds to traditional banking, how much of the population will make cryptocurrency grow?
More people are aware of bitcoin today yet there are people of considerable volume who don't know about bitcoin.If every one knows about bitcoin,its demand would increase more increasing its price as bitcoin supply is limited.Bankers would lose their control over the society more.More unemployed people would get opportunity to earn through bitcoin. Many people do know about bitcoin, but they are just ignoring it, they just want to earn fiat since this is the only thing they know. Most of the people thought bitcoin was just a scam that is why they are hesitating to do it. Cryptocurrencies could lead us to something that we are not expecting to, I mean the good way. This cryptocurrencies, I believe could make our world a better place, to change things to a better one. Some of the countries already adopted bitcoin, already make as their cryptocurrency, for example is Japan, and I think this is one of the reason why bitcoin's price is not going down that far unlike to its past few years which its price was really low. |
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Overall, I think bitcoins have the potential to change the outlook of the financial system, and hence changing the system basing itself on banks as a central unit for money and in which lending is done.
with bitcoin I see no banks, and lending is done in a convenient interface allowing peer to peer lending.
Though it is possible to make banks disappear by bitcoin because bitcoin doesn't need banks at all. Web wallets and hardware wallets are the one where we are storing our bitcoins and not in the banks. Bitcoin is decentralized and storing it in the banks is not really included on the cryto world. But if there would be a "Bitcoin Bank" then it is a good idea but of course this company must be a trusted one before we invest or store our bitcoin on it. |
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For me bitcoin was just another form of payment, another source of income, digital money.
But lately i am looking at bitcoin as digital gold, something worth of just holding for future.
i bet you were right mate. you just said what i am thinking about bitcoin. bitcoin is a good investment for a long term./ as we can see, the price is constantly increasing. I do not think bitcoin can be a mate, although it has the potential to be strong, and we can invest in it for a long time to make a profit, but to be honest, it's not really that good yet. Still, it still needs improvement in the future, and that perfection comes from the developers. I still wait for the historical changes of bitcoin. How come that bitcoin is not a good investment? because its price is so high right now, that is why buying one is not a good choice? You do have a point but you are still going to make profits because bitcoin's price will keep on increasing everyday, so investing bitcoin right now is a good choice, depends on the person if he have the money that he is going to use a capital on bitcoin investment. If you do have the money, then don't hesitate on investing your money on it, because it is going to worth it, it is not too late, or you would regret it in the end that you didn't do it in the first place. |
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As of now i think bitcoin is so stable and its hard it to die. The main reason why bitcoin die if no one use it and no one adopt bitcoin. But now bitcoin are many investor.
yes bitcoin will not die in future because there are large number of people who are using bitcoin also invest their money in bitcoin and many trader are trading in bitcoin and now bitcoin is more established as compare to past because bitcoin users are increased day by day and many countries will accept . Seriously guys? you are still doubting bitcoin right now, lol. If others are already believed on it even on the first time bitcoin was released on the crypto world, then we have to believe on it more right now, because as we can see, as days passed by, bitcoin's population is keep on increasing and its demand is increasing also causing the price to travel to the moon. So, what is the point of asking this too obvious question even if we already know that bitcoin won't die that easily right now. Its solidity will not be ruined just like that. |
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Some people always get back to gamble because they want to get back there loses. Every time they lose on gambling they think to return back hoping that they win for gamble.
Everyone wants to get back what they have lost for sure especially if it is regarding money. There are alot of people that gamble with their last penny and hoping to win alot when they play that is why when they lose, they will try to come back when they have another shot and trying to get back what they lose previously Correct, because that is the only thing that we want in gambling---to win, but sadly, we can't win that easily in gambling because of this thing called "House Edge", which is the one who keeps a certain gambling site running for a very long time because of the bank roll, which is the most important thing in a certain gambling site. We don't care even when we lose, the only thing that we are thinking about is to win and to win all the time, being greedy is also one of the reason's why we are still doing gambling even though we are always losing. |
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because you can make a lot of money out of it
It's not just about winning a lot of money. It's more complicated. They lose money, they end up chasing their losses. When they get to recover their loss, they feel good. Also getting lucky and winning big makes them feel good. This "good feeling" is what that makes them addicted to gambling. Indeed, that is why most of the people who have tried gambling have gone addicted on it, the losses that they are having everyday is the one keeping them on the gambling world, believing that they could make a lot of money on it, but the truth is they can't, because they are going to lose most of the time especially when the odds is not on their favor. Gambling is a very risky game, that is why it is addicting, we are getting challenged by the house, which is the reason why we are getting hype out and gamble more of our money, trust me, the only people who are getting benefited on gambling is those who are lucky on this thing. |
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I imagined that I'am a billionaire, I can do what I want without problem on cash, I just hoping that it would happen in the future by the help of my job and by the help of the bitcoin. However, I was looking forward and I try my best to meets my dream come true.
You do not have to imagine, you just have a small amount of capital, and you accept long term investment in bitcoin, your future will change as the value of bitcoin soars. Do not worry about the risk of bitcoin. It is still depends on how you are going to invest your bitcoin, because bitcoin investment is tricky sometimes, especially when the bitcoin's price is fluctuating, most of us here is panicking and selling their bitcoin because of being scared to lose profits, which is so naïve. There is no need to panic when this things is going to happen, this is just normal, and we have to keep that in mind. Bitcoin's price is so volatile that is why there is DUMP and PUMP state. And if you are going to invest in bitcoin, it would be better if you are going to have a big capital for you to have bigger profits, but there is a lot of ways on how you could earn bitcoin if you don't have that amount of money for you to start to invest on bitcoin. |
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