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With the help of decentralization, we can overcome some troubles that centralization causes. Paypal could control your money. Paypal could block your money. In other word, Paypal can steal your money easily whenever they want. When the system becomes decentralized, the problem is solved. But there is still a problem. There are many platforms like most of the exchanges that are centralized and can block your money. There are also many efforts by governments to make such platforms centralized.
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I don't think so. Why should China want bitcoin to be destroyed? Even of they can mine many bitcoins, they won't try to decrease the price. I am sure they want the price to rise.
Also, there are many whales in the market, own many bitcoins. They are holding much more bitcoins than miners have. Those whales can affect the market more than the miners in China.
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Co-existence of fiat currency and bitcoin can have many advantages and many are thinking this is the future for cryptocurrency rather than taking over fiat. Online or digital transactions can be covered by bitcoin and physical exchanges can be done by fiat.
I agree that fiat currency will exist. But I don't think paying for things using something physical is an advantage. Cash is used less day by day. |
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I'm not one of them. But you are likely right. Some people who had expected to earn big money, had talked about it with others and have lost money, might lie to others. Because if they say the truth, they might be called fool.
But I don't think you are right about forum users. Because they are unknown and there is no need to lie.
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In my opinion, centralization of btc will also open up more opportunities. It can become a company like visa or mastercard or any other payment processor widely accepted around the world. At this point in time, many countries prohibit the use of bitcoin, so it is only available in a decentralized manner.
After bitcoin becomes centralized, it might accepted by governments. But Why should we use that? What will be benefits of bitcoin? What will be difference of bitcoin with Visa and Mastercard? If bitcoin becomes centralized, a bigger problem will appear. Because the main purpose of bitcoin won't be reached. |
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I wish, I had entered cryptocurrencies market sooner. But I think we are early adopters. Because cryptocurrencies are still new and we don't see they are used for payments. I am sure there will be many progresses and new projects on cryptocurrencies in future. Many efforts will be made to make the cryptocurrencies a tool to be used for daily transactions. So, yes. We are early adopters.
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Now the market is boring for those people who want to get rich very fast. It is same as the time before 2017. The market is waiting for all impatient people to leave the market. Any one invest in bitcoin is not supposed to get rich in a short time. Holders should be patient.
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Bitcoin is not supposed to replace gold. Gold as a store of value will remain valuable forever and bitcoin can be valuable too. Bitcoin and gold are not competing with each other. Gold is an old thing which all the people trust it. Also, bitcoin will be always valuable given the technology and its limited supply.
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I agree with your post. Bitcoins are just digital coin, because bitcoins do not have real value so they can not be compared to gold. Gold is a valuable metal, and they can make many things from gold, so gold is very valuable. Bitcoin is a kind of digital currency, used to trade through the internet, used to replace the currency.
Why gold is valuable? Don't you think steel is used more than gold? Why is steel which is used in almost all industries less valuable than gold? That's only due to supply and demand. Gold is valuable because there is not a high supply. It is same as bitcoin. Total number of bitcoins is limited. This makes bitcoin valuable. |
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Has anybody considered what the Bitcoin users want for transaction fees for their transactions? Yes, we can set the transaction fees for our transactions in some wallets, but if you were given one set percentage of what you want to pay for transactions, what would you choose? Let's say, this is based on the amount of bitcoins you are sending and not the transaction packet size.  In the tax system, people with more money pay higher taxes and people with less money pay little or no taxes, so it would make sense to apply this to Bitcoin too. {I am just playing Devils Advocate, because I know people will split tx's if this was done.} Let's say they increase the amount, if it comes from the same Bitcoin address.... forcing people to use new Bitcoin addresses and increasing pseudo anonymity.  What percentage of your total transaction, would you be willing to pay for transaction fees, if this was done? {We might see this with the future Bank Coins, because they like to do that.}  high fee / fast transaction low fee/ slow transaction Agreed that the transaction fees depends on the speed of transaction but my point is that why can't we have a set % for transaction fees which will be applicable for every exchanges and they should not fix it by there own.And Why can't we provide same speed of transaction to every transaction just to improve the system.Atleast money which we are giving to other exchanges must be taken to improve speed of in future for same price to everyone. You are talking about exchanges not the blockchain. Exchanges can determine fees as much as they want. You can also use any exchange you want. When you are send the coins from your personal address to another address, you can determine the fee. |
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Traders should analyze the market. It is needed to make money. But listening to others without any study even if that person is a popular person is risky and can cause big loses.
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At this moment main problem for crypto are scams and in near future we would have that problem but as we see many projects make mvp which is good to escape from scamers.
This is not a problem of cryptocurrencies. When you invest in a project and you are scammed, it likes that you have given money to somebody for a service and then that person don't provide that. Bitcoin is a payment system and it is working well. |
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I don't agree, if bitcoin is accepted on that condition. then bitcoin is not a decentralized technology. the purpose of Bitcoin is made to eliminate centralized control. and users are free to use their assets without rules restrictions. then if bitcoin follows fiat rules and others by the government. Bitcoin doesn't work on the way.
Totally agree with you. Bitcoin won't be what it should be when it is not decentralized. I want bitcoin to be decentralized forever. But when some one talks with me about the crimes an be dome using bitcoin. I have no answer. |
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When something bad happen or there is a bad news, all of the cyptocurrencies start to fall. Then people think that all the crpytocurrencies are falling due to bitcoin fall. No, the reason is not bitcoin. The falling is normal. Because that news is related to all of the crpytocurrencies. When a country ban bitcoin, they are banning other cryptocurrecnies too.
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Bitcoin is sure the future of online transaction, globally, The developers of Bitcoin must be ready to accept government policies and regulation in order to increase the awareness and acceptance by government and other, yet to be convince into the space, Lots of works need to be done in order to convince and defend the vision and mission of bitcoin as a currency.
Developers of bitcoin? Who are they? There is no one to talk with governments and accept their regulation. I think Governments will be finally forced to accept bitcoin as it is today. |
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Now Dollar is the global currency. Most of the international transactions are done using dollar. It's not fair. Because United States has control over the currency. Why shouldn't another country play that big role? In my opinion dollar will be finally replaced by another currency. A decentralized currency can be a good option. Bitcoin might be that currency.
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The greed of miners is causing serious problems for the Earth's climate. The amount of electricity supplied to the mining plant is enormous. We need new solutions to minimize this. Perhaps the plant operators should look for green energy sources to protect the environment and reduce pollution.
Again 1/10th of 1% of the worlds electricity is not something to worry about and is not causing any type of temperature change on this planet. That's not a low amount when we consider the costs and the effects it can have on environment. |
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Everything that is good always has some enemies. And they spreads some bad news about it and we all know the bad news attracts people easily and they starts to react accordingly. That's what happens to every good things and it's very hard to reverse, and when the Government and the banks are against it then you know what happens,they influences people more about the negativity. So it becomes more harder until the government recognizes it and allows it with some rules. Or you can't stop the negative publicity because the governments are helping the publishers.
It's very difficult to create positive advertising for the product that has created bad advertising for itself. If bitcoin hadn't jumped high at the end of 2017 and if it hadn't fallen in 2018, there would have been no bad publicity. I think everything will fall into place, and the crypt will say a weighty word in its defense. The price volatility you are talking about is not problem. Because bitcoin is regulated yet. After regulations that can be changed. We should focus on the technology and the benefits of a decentralized system. |
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After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.
Is bitcoin a digital gold? Obviously, no, bitcoin is not a digital gold. Those people who compare gold to bitcoin only look on some sides but not all the aspects as a whole. What do I mean? They said that gold has a store value that is why they demand to have it likewise bitcoin also have its value that is why there are these demands. They are also saying that before people used gold as a transaction method which is the same with bitcoin which is a modern day way of transaction. They forgot that gold is used to a lot more purposes like medical purposes, fashion statements, and etcetera. I think the use of bitcoin in transactions is much more important than the use of gold which you mentioned. Bitcoin is not just a store of value. Bitcoin can be used for peer to peer transactions. It just takes times to be used worldwide. |
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I personally believe that bitcoin price will finally rise. But I don't think such predictions work. I mean we cannot say what has happened before will happen again. There are many more important factors affect the market. But this diagram can make the investors hopeful. It shows that price recovery can happen even after a big correction and a new all time high can be achieved.
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