Did he provide any more info? Or just the bitcoins pictured? Looks like just a straight post of a big pile of bitcoins. Could spark some interest though, get people intrigued.

None of this is investment advice - but I will say that it's interesting looking at this thread, considering it started in June and there has been ups and downs since then, but mostly ups.

But of course there has been a pretty decent decline in the last few days.

I have always thought of myself as a decently stable investor. When I buy something, I am pretty confident in it and just hold it through swings. But of course the swings in crypto are way more volatile than other investments. So this has tested me in my belief of investing in bitcoin.

But the upside swing can be so great that I am going to hold and see where things go.

I would imagine that because it is the biggest and most prominent cryptocurrency, that it can influence others based on its own movements. I would also think that it can be a commonly used crypto to buy other altcoins - such as buying something like ripple for bitcoin, for example. So it can influence based on movements, but would be involved in lots of other transactions.

There is likely other attributes, but I would think the above would hold some weight.

There is of course more to price declines than what I will be mentioning in this post - but it would be tough for any one person to stop bitcoin from dropping dramatically in price, you would need to be a major, major holder of it so that your sell-off into fiat would represent a major percentage of bitcoin. Or a bunch of people would have to be doing this together (which might have happened recently with this big decline - people seeing it hit $5000 USD and selling some off for some profit).

My post here is more of a question or summary I suppose, but in considering what it would take for bitcoin to die, there is of course the concept that people stop finding interest or value in it. But have there not already been a whole bunch of different circumstances in the news that would have already taken a strong shot at bitcoin's viability:

Different scenarios that threaten bitcoin
- A hack and theft of a major exchange - this obviously happened with Mt. Gox. And while it is an unfortunate issue, bitcoin's price has clearly recovered. And of course there are more secure ways to store bitcoin (wallets) so holding on an exchange should not be something that people do regularly.
- Negative news - there has been a ton of this. The Silk Road issue and different forks. I am not crazy on the forks happening, since it can be confusing for a user who is not aware of bitcoin. But even with these the price continues to climb. And even if one of bitcoin or bitcoin cash were to be killed off, then it could just represent non-usage of the failed version, and the other version would have continued usage (assuming that the entire ecosystem continues to be used).

So while people buy more because the price continues to climb, more people can buy more because the price continues to climb, and so on. And then the finite element of it comes into play and allows bitcoin to be a viable store of value. So people not wanting to invest in it anymore and not holding anymore or valuing it is one of the only ways it could not succeed?

I suppose there could be a big sell-off from a major holder which triggers more and more selling. But then that would entail the major holder wanting to cash out when it would be in their interest to keep holding and allowing the price to have a continued chance to rise.

Any thoughts? Am I on the right track?
 

Of course the price is not determined solely by these factors, but the nature of bitcoin's decreasing mining rate and finite cap are elements that I keep coming back to as a source of bitcoin growth. As I said, there are other characteristics that determine price, but these factors are something that works with bitcoin for its entire existence and encourage increasing prices. So the very nature of how bitcoin is setup should facilitate increasing price. Nothing in this post is meant to be investment advice, but I would also imagine a relatively low amount of people hold bitcoin. So there could be some more room for growth based on more people buying as time goes on.

This is a bit off-topic as it is not necessarily pertaining to the economy per se. But Something that really amazes me about bitcoin is the ability to restore power and control to people over their own money. Something that has continuously stuck with me is the ability for people in underdeveloped countries to be able to receive bitcoin on the blockchain, with something as simple as a smart phone.

I know that there is more to overall acceptance in a country than the ability to receive bitcoin, but it at least stagnates oppression.

I also love how these same people in underdeveloped countries don’t have to go to money transferring locations and risk robbery or having to pay fees to armed gangs who charge ’fees ’ for people getting their own money.   

I think what is more probable is that some governments or investors can use bitcoin as a hedge or a reserve.

It can be tough to explain for sure. I have gone into talking about how there is a private key and a public key, where you can put money on a public key but need access to a private key for holding that info.

I have also gone into how the keys are a very unique string of characters that is impossible to hack, so it is very secure.

As well as how there is a distributed ledger that allows for transaction verification and makes it impossible to hack because all have to be hacked at once, and the blockchain is where things start from.

But I know what you mean - it is hard to explain to people.

Having an idea of the blockchain is probably a good place to start. As blockchain becomes more and more prominent it will be interesting to see how information is conveyed.

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There are ways that you can save money that allow you to get better returns than just keeping cash in your checking or savings account. From a returns standpoint, holding money in your checking account allows inflation to dilute the value of the holdings, so you could argue that holding in a checking account is riskier, in a way, to holding some other safe investments that outpace inflation.

Examples include things like money market accounts or bonds. Those are pretty safe and can outpace inflation.

One super important thing could be to provide some education on the nature of finite resources. This can help kids or people not versed in supply and demand understand that the finite nature of something helps to keep the price higher (when there is adequate demand).

And conversely, helping provide some education on what happens when more and more money is printed is hugely important. I remember when I was a kid I would wonder why we couldn't just print more and more money so as to pay for things.

Comparing these two different platforms is a hugely important groundwork for demonstrating how bitcoin works.

In case you guys didn't see this, a new prediction coming from a prominent investor, is saying that the market cap could get up to $2 trillion. Ronnie Moas, giving the ecosystem a huge vote.

Here is the article: https://www.coindesk.com/standpoint-founder-bitcoin-asset-class-will-grow-2-trillion-market/

In the present and very near future I think it will be an asset class that people mostly invest in (like the old bitcoin vs. gold debate). There will probably be more and more efforts to have it used as a daily currency but I think there is not enough understanding to have this fully implemented at this time anyway.

Something that is big about this is also that it simply brings more attention to bitcoin and cryptocurrency as it highlights a respected, mainstream, prominent billionaire. Only time will tell how Cuban's specific venture will do. But respected investors going into the area is huge!!

The first bitcoin ETF should be a winner for numerous different parties involved.

ETFs for bitcoin are a great idea for people who are unsure of how to buy bitcoin or store their private keys. When I was first looking at buying bitcoin I looked for ETFs as I was familiar with ETFs but was not familiar with bitcoin and wallets at the time.

Bitcoins are a super familiar concept and investment vehicle for more traditional investors, so I would imagine there would be quite a bit of people buying into the ETF who were otherwise apprehensive about getting into bitcoin.

It will also be great for the company that gets the first ETF approved. Although ETF management fees are generally very low (which is one of the best features of ETFs) - I would imagine the sheer influx of customers would be great for the company that offers the first bitcoin ETF.

Good topic

I check bitcoin/crypto news regularly and there are more and more household names that are becoming involved in bitcoin and cryptocurrency. A recent one is Fidelity Investments

Can't wait to see more and more of this adoption!

Good question - I am probably checking coin market cap up like 20 times per day :/

This could be a great prediction. There are more and more instruments being introduced to bitcoin that make it similar to traditional stocks. Such as the Bitcoin Investment Trust, proposals for bitcoin ETFs, and bitcoin options.

There are several bitcoin ATM machines in different cities in Canada.

They also just introduced some ethereum ATM machines in Toronto as well