|
1321
|
Other / Beginners & Help / Re: Bitcoin inequality
|
on: December 04, 2013, 04:19:00 PM
|
I really like bitcoin as an idea, but I have a problem with the it's long term viability. If bitcoin were to be used as the main currency, and all goods were sold on a bitcoin market, wouldn't all the early adopters be USD trillionaires? It seems counter intuitive for people who contributed relatively little production or innovation to be trillionaires, considering that the founders of Google, Microsoft and Apple have made significantly less for their innovations.
I doubt, early adopters selling Bitcoins on the way up many years already  |
|
|
|
|
1322
|
Other / Beginners & Help / Re: Will Bitcoin Reach $10,000 One Day?
|
on: December 04, 2013, 04:16:11 PM
|
BTC star crashing last night but this morning gone up again seem that 1k is the for now until christmas and new year then it can go higher maybe 1.5k
The price means nothing. 1k means nothing if someone sells 1000btc price will go down 100$. Stop looking at price alone and start checking market depth. Nah man trade volume is to high, nee much more than 1000 btc to crash the market like that. Imagine someone who mined 100,000 btc in '09 as a hobby then forgot about Bitcoin and only now with all the media attention they would think of it again. They don't know anything about markets and dump the entire amount on Gox and sell it in one go. What would that do to the price? It would crash almost to 0, but the price would recover to 100$ the same day as people with money left on exchange would compete to buy cheap Bitcoins. Later when new money deposited to exchange, price would recover to the one at other exchanges within a week |
|
|
|
|
1323
|
Other / Beginners & Help / Re: The intrinsic value of crypto currency
|
on: December 04, 2013, 04:08:56 PM
|
I'm definitely a newbie when it comes to crypto currency. It's fascinating to see how fast this is evolving.
But as far as I know, crypto currency is still a currency and not money, because it holds no intrinsic value.
Will it ever be possible to have a decentralized crypto currency backed by (centralized) assets like gold and silver?
In other words, will crypto currency eventually become real money?
Maybe you will be surprised, but the real money like USD is backed by trust only. |
|
|
|
|
1325
|
Other / Off-topic / Re: 0 btc transaction fee
|
on: December 04, 2013, 04:00:06 PM
|
It seems that you don't understand that avoiding the fees means avoiding the transactions to be completed whatsoever.
Not always, if you send transaction without fee and you see it on blockchain.info as unconfirmed, there is always chance your transaction will be confirmed . |
|
|
|
|
1327
|
Other / Archival / Re: Bitcoin Faucets, Are they worth it?
|
on: November 27, 2013, 03:45:06 PM
|
who uses faucets? have you made 1 bitcoin?
Do you find it worth it?
No it is impossible to accumulate 1 bitcoin using faucets these days. It is not worth it unless you enjoy submiting captchas  |
|
|
|
|
1328
|
Economy / Speculation / Re: Looks like we are going to hit 1000 usd this year
|
on: November 27, 2013, 03:40:23 PM
|
I'll give OP a bitcoin if it hits $1000/BTC this year. Will not happen.  Time to necro another thread  BTW here's my address: 19Kpu7Mje3RHmnjUwn1sXQfi4iWtUTxWtt Nice, just a reminder: never say never So it is $1000 just for a prediction, nice! I might start $100,000 for next year |
|
|
|
|
1334
|
Economy / Speculation / Re: Bears Bunker - Official thread
|
on: November 18, 2013, 11:06:10 PM
|
I'm truly devoted, but if the fucking Bitcoin Foundation is going to cooperate with the US government to regulate Bitcoin and try to stop the implementation of ZeroCoin or CoinJoin then I say good bye!  Changing Bitcoin protocol by Bitcoin Foundation to regulate Bitcoin would mean forked blockchain, and existence of two Bitcoins alongside. This would be scary |
|
|
|
|
Show Posts
