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Bitcoin just needs to pivot
As most entrepreneurs know if people think your idea is crazy you are probably onto something. The companies that are emerging around bitcoin usage should look to other markets. Like countries that have unstable governments, like areas in the Middle East and Africa. Bitcoins would be appreciated more there rather than the country's own currency due to the governmental uncertainty. Emerging markets might also be a good place for bitcoin. They might prefer a currency that already has unique markers and system for identification. Areas where they bank just using cellphones might also be a good niche market for bitcoin. It might have been dealt a blow by the Silkroad closure, but it is not going away. Remember that Apple's first computers were crappy children's toys but look at them now.
Computers and bitcoins are two totally differen things so to make that connection that this can grow to be the leading currency isn't a good analogy. What good are bitcoins as a currency in Africa if it can't trade beyond it's border? Is there any physical wealth backing it up? If a bank won't convert it to cash for you, what value does it have? Once it becomes regulated (no banking system will trade in uncontrollable and unregulated currencies) it become the same thing we have now.You'd do much better mining for gold then bitcoins, as with the fist it is a tangable, physical medium that fluctuates in price. Response "Is there any physical wealth backing it up?" William, you've struck the bedrock of what constitutes "value" with the shovel of a stupid question. Bitcoin has value because, (1) it's scarce and (2) it has specific attributes that make it an ideal store of value and "programmable" medium of exchange. You need nothing else. "Once it becomes regulated (no banking system will trade in uncontrollable and unregulated currencies) it become the same thing we have now." It becomes the same as what? Please read Satoshi's original White Paper. I don't think you're correctly understanding the technology behind the protocol. http://bitcoin.org/bitcoin.pdfIn other words... ...it's backed purely by supply and demand. If demand goes away, then the value goes through the floor. |
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Rather than drive yourself nuts with anxiety watching the price, do yourself a favor and switch to a dollar cost averaging strategy, it has served me well over the last three years both with massive gains and far less stress than those trying to time the market.
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Presumably people will write Wills (the same as they do now) and they could leave their wallet passwords in the Will or some similar solution. They could also simply tell their heir the wallet password on their deathbed or transfer their wallet funds to their heir before they die.
I don't think it is a problem. In 100 years tech will be so much more advanced than now. We'll have wearable computers and our wallets will probably be embedded into our wrist or something! It won't be a problem like you think it is.
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Not paying attention to where you send the btc.
not backing up your shit
backing up your shit and storing the backup improperly (or in the open or near flames)
not secure enough pin
not keeping your btc secret
постоянная ссылкаembedсохранитьначальный
Not keeping your seed secret (hint split 2 copies of the seed into 3rds and store 2 different 3rds in each of 3 locations) And don't tell anyone, not your wife, not your boyfriend, not your siblings.... No one! And also malware (just a malicious browser extension is enough) that changes the addresses that you see in your browser. It seems pretty difficult to protect against these attacks at a reasonable cost. Any idea? (better that always double-checking on a second device that it dedicated to that. Without much stuff installed on to limit the risks) |
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Not paying attention to where you send the btc.
not backing up your shit
backing up your shit and storing the backup improperly (or in the open or near flames)
not secure enough pin
not keeping your btc secret
постоянная ссылкаembedсохранитьначальный
Not keeping your seed secret (hint split 2 copies of the seed into 3rds and store 2 different 3rds in each of 3 locations) |
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It helps Bitcoin, and has potential to REALLY help Bitcoin. See currently every gambling game you lose 1-5% , remove the house edge and not only does it make gambling compelling but it has the potential to destroy all current retail and online gaming.
Offering poker without a rake, offering slots without an expected loss, offering roulette without a green slot on the wheel, etc... All of this turns your expected value to net neutral which would flip the gambling world upside down.
Sports betting without a house edge? Massive. When somebody actually creates a system off BTC/Ethereum that reduces all house edge, the inflows of BTC/Ether will be insane.
It proves the deflationary potential of technology.
Bitcoin gambling in its current state still shovels massive amounts of $ into the house. Let's make gambling net neutral and all of a sudden the market will blow up. To do this would require peer to peer staking because nobody would tie up their bitcoin capital without an expected return unless they are gambling themselves.
Why would bitcoin eliminate the house edge? I can see it reducing it because bitcoin's properties make it much more efficient for online gambling, but not eliminating. Whoever creates the gambling service will want to get some kind of benefit for themselves so they'll code in a house edge. couldn't agree more what is the point to create a gambling website if you can't profit from it maybe not coding in a house edge but some fee for using the site is a must I use Nitrogen for sportsbetting and Fortune Jack for casino games for several years - never had a problem, cashouts are super fast Currently Bitcoin gambling is at the reduced house edge stage. Less overhead = lower house edge. I believe the next phase is a peer to peer protocol where two people can bet against each other at a zero house edge. OR a developer they can simply offer zero house edge website and implement a tip system so players can tip at their own will, similar to dealer tipping in a casino. Won't work for "virtual slots" however peer to peer sports betting is a big one. |
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I guess i would add my location if i had nothing to hide.
As an example, if i was a store or a local business, that would just be added publicity for free. right.
Same for a user buying coffee or a sandwich. If i am already sharing my location on instagram, snapchat, why do i care that someone saw me pay for my sandwich with bitcoin.
Are you stupid? |
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I dont think so that is possible but if it is then you invest in Deeponion becuase i will become the next bright coin in cryptocurrency and it will soon touch the sky and it is not like the website it is cryptocurrency
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Correct me if I'm wrong, Bitcoin Futures investment on CME or CBOE does not reflect on bitcoin price at all. I think this sorta perception is kind of misleading. Seriously, am I missing something here, can someone please point me to the right direction?
Thanks.
The thing here is it will impact the price of BTC or any VC's while this kind of (Futures investment on CME or CBOE) happens. Volatility will come up with such comments of Futures investment on CME or CBOE. Nothing more happens .... No Bitcoins will be bought or change hands, that is what I understand as well, but I just think that these Analysts should picture the correct perception to the public to avoid any blame game later on. From how I see it, trading on CME, CBOE, or any major exchange later on is a sham.. SUPPORT REAL BITCOIN ONLY!!! |
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Well I don't think even most bitcoin enthusiasts (like me) would say that was really smart. But then again what is a smart investment nowadays?
Stocks - Artificially inflated and disconnected from fundamentals. Major correction likely.
Bonds - Wouldn't touch with a 10 foot pole.
Real Estate - I like real estate but it takes management and maintenance and taxes and we are probably in another bubble here as well.
Precious Metals - Has history on its side but is target of confiscation and has issues with liquidity and storage.
US Dollar - LMAO
It is about risk appetite, not being smart. If you want to gamble, then Bitcoin is a good instrument for that. And it is better gamble than casinos, because at casinos your EV is negative. With Bitcoin you don't know the EV, but you can try estimating it  |
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Get it out NOW. There have been lots of cases where people waited too long and all the BTC were gone (exchange hacked, went down, was fraudulent...)
Why? What's the risk in generating a paper wallet private key set and transferring it to that all in one go? |
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