What do you think, how many people are ready to sell their goods or services on crypto? Let's say that we have service which help quick and easy to build online store and sell for cryptocurrency. What kind of reasons can motivate people to start a crypto business?
for one to be ready to trade with crypto, one needs huge funds to support the process, small business i think cannot support it because of less funds, that is why big companies are the ones who are ready to adapt crypto payments, because of volatility of cryptos high cost of transactions fees, lack of funds are the main hindrance for small time business to penetrate in the crypto payments methods. |
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of course, the bank has its own role in a country, its small example as a container for lending capital, other credits and as its, even though the development of crypto world is very rapid, but the bank has its own role, and they will not close the company, maybe later them will follow also the current development of the crypto world
true, banks is still essential today even if cryptos are soaring today, because not everything can buy and paid in bitcoin, we need banks for conversions of bitcoin to fiats in less fees, there are other purposes of banks that bitcoin cannot cater like housing loan, car loan ,business loan and salary loans, we still need banks, we can live with it up to now, we are ok with cryptos and banks co-existence. |
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this post is way back 2013 and still someone is having a discussion about the worth and value of bitcoin, i think the op should lock this thread, because im sure he is laughing right now, the market value of bitcoin in 2013 has exponentially multiplied today, the graphs today answered this thread already and some weak hearted posters who agree with op is eating his heart out now. look at the price now, indeed bitcoin has come a long way to reach the price we are enjoying right now.
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I think you are talking about the problems that you see most often. Whatever the level of knowledge or level of experience of the investor, I believe that these mistakes have been dropped at least once. If I say that I have done nothing wrong with these mistakes, I will not believe. Every investor has certainly made one of the mistakes in this topic. The best thing new investors can do to survive these problems is just to investigate and read the comments of experienced people and comply with those comments.
agree, these mistakes are a sort of mandatory thing or natural thing and a given mistakes for newbies, we all once became a newbie, what is more important is now, we are already aware of this mistakes and this also serves us as a reminder. honestly, electronic and digital stuff are not easy for a common user especially he is new in such platforms like bitcoin and blockchains. |
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bitcoin has given us freedom over our own assets unlike banks, banks limit us on secrecy and laws and tax and hidden charges, in bitcoin, it is the opposite, we are enjoying anonymity and tax free transactions, and we can see on real time each transactions and no international fee barriers. here's the thing, we want freedom but im not saying we refrain from using banks, we need them too but for other purposes only, let us not discuss more on the opposing sides, banks and crypto are co-existing today which i think in good harmony, let us stay that way.
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Last 3 weeks growth has been slow, steady and strong amongst slight price fall now and then. Experts said the price would grow back by end of April and yes it happened. So will bitcoin price hit $20K by August 2018? I am sure yes if this current growth trend remains as it is.
What are your thoughts?
if the trend will be steady like today for sure it will happen but it is steady, remember bitcoin is highly volatile, we cannot rely on the trend you are saying. but being optimistic really helps, let us hope that this slow and steady trend of ups and downs will continue and surely bitcoin "could" hit the $20k mark. |
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Just a question, can earnings from bounty campaigns actually sustain the needs of a family? Considering how volatile cryptocurrencies are and the rising cost of living. Can we actually survive on a day to day basis simply by earning from Campaigns?
big no, bounty campaigns has limited days of earning, it is not stable too, unless you are always accepted in one campaign after another, and not to mention, bounty campaigns has no exact date of when are they gonna pay you for your service. so undoubtedly, campaigns are not to be relied on especially the sustenance of your family's future and welfare. |
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to make 10 company in blockchains legalized is i think too much, i think this is just a propaganda or a press release of the philippine govt to initiate a prospected turn outs of investors, somehow good but daring, even a single blockchain is not yet being legalized in that counrty and yet declaring they are legalizing 10? i don't know what to expect but let us hope for the best, let us all wait.
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with apple's self pride on our way, adapting bitcoin technology or blockchain technology is far more impossible, the company is truly an introvert as one commented, for sure they are now developing their own crypto and blockchain tech, or should i say, already in the market now, with apple's innovative tech and huge assets, they can easily join the bandwagon on blockchain.
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That's an awesome idea. By promoting bitcoin it will helps to be more acquaint or recognize by the peole who are not using bitcoin and it will make people to confer interest about bitcoin.
By the helps of social media is the easiest way to promote bitcoin in our country.
I agree but right now, due to the high popularity, many medias are releasing false news about bitcoin. They keep on saying it's not legit and is a scam which is a bad thing because it affects the price of bitcoin. The demand could come with a disadvantage also. The more we promote it the wider its popularity and more people are fueled to ruin bitcoin's reputation. that is why all the more, we should retaliate with more good news about bitcoin, even there is a lot of false and misleading news about bitcoin, i believe that good news is more than the bad news, the demands are increasing and more and more countries are embracing this blockchain technology. being the top coin in the market today, even false news cannot overturn the path where bitcoin is bringing us, there is a saying, good or bad publicity is still a publicity. |
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of course this will boost bitcoin's market value as the demand increases, i guess we will be seeing high prices of bitcoin in the market value in a couple of months, after seeing this, i think many nations will follow south korea and will be in line to adapt bitcoin and blockchain technology. sounds good for the users and traders. so buy now guys.
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"Cryptocurrency market could hit $1 trillion this year with bitcoin surging to $50,000, experts say"
Hopefully, it will come true!!!
To be honest I do not really care when that happens, I know it is going to happen at some point in the future and I know that I'm willing to hold until that price becomes a reality, now do I think we're going to reach that price by the end of this year? Probably not, but the likelihood that will reach that price in the next two or three years is incredibly high. yeah, for now it is far more than reality, what we are experiencing right now is a wave made by whales, trying to create a trend, reaching $1 trillion is impossible as for many traders are selling right away when it hits the peak, if we can look at the graphs today, though the line has an upward swing, there are small windows of chance to sell, then the line will drop again,this will be a reality if no one wil sell and try to HODL for at least 1 year. |
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I have recently saw on news that company EasyBit is installing 4 bitcoin ATM in Vietnam. And I was surprised two times. First was when I heard "Vietnam" and second that 60 bitcoin ATM already installed in different cities of the world. Of course I doubt that they will install such ATM in my little city soon, but I would like it to happen in anyway.
this is certainly a proof of the many potentials of bitcoin in our daily lives, having known that there are atms now available and some more to be installed, certainly boost popularity and trusts on using bitcoin. i hope we can also experience this innovation on our country, this is far more convenient now to encash or deposit bitcoin to fiats and vice versa. good job. |
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What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?
Bad idea, there are fees implemented by exchanges and i believe that it is already taxed which exchangers are passing it on consumers that is why we have a high cost of fees when we convert or exchange it to fiats or other crypto. Govts has nothing to do with it, and now you are suggesting that govt should impose tax on transacting? Bad idea. Imagine how much fees we have to pay, it is doubled tax cost. |
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BTC main value proposition is to be a decentralized currency and/or value store. 1. The BTC community desires it to be widely adopted by the population. But price volatility prevents so. A significant amount of people cannot afford the cost of volatility.
A big argument against inflation is that it raises the cost of business. The same argument can be used to criticize BTC. BTC volatility raises the cost of doing business if BTC is your only capital. If we desire BTC adoption to rise we must take care of BTC price fluctuation. BTC demand is highly unpredictable while supply is predictable, resulting in unpredictable prices. That means volatility can't change unless demand stabilizes.
Common counter-arguments:
3 "BTC is volatile but it always rises in the long-term so it doesn't matter". Is it does, it increases the cost of business. I can't start a bakery with only BTC capital because in the first dip I will have to take loans to pay wages.
3.1 "Oh, but you can't see that happening because you can't see far enough." This sounds like a highly utopian view. Pragmatically, we need a path from here to there, I turn to you and ask, how can we get there?
3.2 "Okay, it doesn't matter for some people and that's all". Okay, then BTC will be a niche store of value, contradicting #1.
4 "Demand will stabilize in the long term." How?
5 "Price stability is a myth, market demands always change them" Sure, it's a myth. Yet it is desirable. If we are designing the system, shouldn't we take that in account? "No, we shouldn't, if you want to do that go and create your own coin." Okay, then BTC will be a niche store of value, contradicting #1.
What incentives do savers have to buy-in on a inflationary money supply? The incentive of stability? That's one reason people agree being exposed to the USD. Am I defending inflation tax? No. I'm asking could there be benefits to having a transparent voluntary contract with varying money supply rate. And I'm leaning towards a yes to this question.
If the supply of a coin could be influenced by price then we would have a more stable coin, the cost we pay is inflation. The issue then becomes an optimization issue, on what would be a proper trade-off.
What are your thoughts?
You have good points. It's true that volatility prevents adoption, in order to have a mass adoption of a certain currency it is recommended to have a stable value. It indicates a stable economy too. I agree with you both but isnt it what makes bitcoin special and the most valuable coin today? Volatility is needed for bitcoin to grow, it is like Gold, since not everybody can afford it, that what makes it more expensive, a good criteria for traders and users, if the price of bitcoin will be stable, then it will not reach its present value and the leading crypto in the market today. |
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That was the main interest, I didn't mean casinos and other gambing sites. Gambling sites always work, but the other ones like small private businesses that operate with bitcoin (I do not include big companies like steam or microsoft). Thanks.
recently, there are some sites that accept bitcoin payment and the numbers are rapidly growing, countries that are adapting bitcoin use are growing too, as a result of their people's buying power using bitcoin. so i think bitcoin's network are expanding as we speak. it is just a matter of time to see how bitcoin will flourished at worldwide acceptance. |
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For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.
Do you think bitcoin will replace Banks in the future?
no, it will not, bitcoin proved its effect on our current economic status, it may still create more opportunities for the users to more innovative ways to earn and utilize bitcoin use, but let us not be complacent, bank has their own strategies to cope up with these innovations. im sure they will come up with a leverage against bitcoin and other cryptos, besides, there are vast majorities of commodities that bitcoin cannot cater and vice versa, so i think bitcoin and banks will still co-exist with one another in the future |
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bitcoin today is at its development stage, those early years up to present is not enough to predict even a pattern, remember, cryptos are just new and not yet stable and it will never be stable, crypto less than a decade old, so a predicted pattern is seems impossible now, maybe a slight trend can be associated as a pattern but not to be relied on. actually the market is not yet to be relied on.
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i hope they will stick to their plan or they are transparent on their agenda that is focusing on financial services like protection of consumers on remittance and even financial stability of its people, also protection against anti money launderers and will not try to manipulate the circulation of peer to peer and the anonymity of users. if yes, this will certainly add up to the ever developing opportunity we can get from bitcoin.
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the value of centralized coins or any fiats can be manipulated, depending on the current market, even the production of it can be limited. the idea of being decentralized give us more freedom over our own assets, on where and when to trade it, we highly depend on the actual circulation of coins in the market, which resulted to high volatility. that is why i don't see and advantages of a centralized crypto, on the part of the ones who own the market, a centralized coins can be beneficial to them but on our part as traders and consumers, it will not.
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