|
After reading the second article in the link, it made me even more confused. If more than 9% reported feeling “puzzled” or “confused” by the bitcoin image with the rest which adds up to about another 18%, then how about the rest of the respondent? I presumed it's the total opposite of feeling puzzled. Something doesn't sound right over here.
|
|
|
|
|
Yeah, the fact is that you can have it nice stashed away, probably with only a small chance of somebody finding out about it. And I just wonder why the tax evaders haven't really figure that out. Or maybe they did, it's just that the scare of price volatility actually turned them away. I imagine if this doesn't become problem, bitcoin would be an attractive way to hide the stash.
|
|
|
|
|
Until the Victorian government announces that they are going to auction off bitcoins which they confiscated, I had the impression that only the US marshals had the coin. And it will not be a surprise if there are even more bitcoins held by government from other countries and that could even include the central banks.
|
|
|
|
|
When it says the value of all cryptocurrencies is more than $4 billion, it doesn't mean that if you exchange all available coins at that particular time, you will get the same exact amount as indicated. That will be much lower because every time you sell a unit of the coin, the price a buyer is willing to pay for the following unit of coins will be much lower. And so it goes.
|
|
|
|
|
Not sure how they would do it but I expect every time before you make a withdrawal, you will need to submit a long list of supporting documents that require yourself to declare some statements concerning where the coins are obtained. Also they could make it mandatory for companies dealing in bitcoin to register and comply to certain guidelines. I see good and bad to it.
|
|
|
|
|
Somehow I always thought these things are really amazing and how it could actually survived so long and the bubble kept on getting bigger and bigger without blowing up. And imagine if these things were to really blow up some day, I wonder what kind of catastrophe we should be expecting. I don't know, I just can't imagine. And that is where bitcoin matters.
|
|
|
|
|
If you turn your attention away towards making a short term gain, and instead change it towards long term goals, probably that would help. Else it will get you so desperate. As long as the fundamentals are set right, there shouldn't be anything to worry about. Yeah, price will dip but with continued growth in adoption rate, it should overall be positive.
|
|
|
|
|
Probably they are just protecting their brand from getting exploited similar like what some of those big corporations do to acquire something like companynamesucks.com. Anyway check using whois domaintools turned up nothing as it protected by privacy settings. It could even turn out be be some geeks looking to launch their new altcoins.
|
|
|
|
There are 21 million coins that will ever exists, a lot of them are lost forever the supply is even smaller, there are about 2 million BTC users right now as far as I know, some owning a lot of them. You do the math. The price of 1 BTC is a lot higher than what it is right now. See you in 10 years, will bump this thread.
Until we have all the figures, it's quite difficult to actually work out the maths to determine whether right now bitcoin is over or undervalued. Even though coins are lost each day, somehow there are still new coins getting introduced to the market coming from the mining and whatever the net value here, demand has to overcome that or less price will continue to fall. |
|
|
|
|
9% might not be significant but one thing that the survey needs to mention before it comes to the conclusion is what pool of people the guy is using. For instance, education level, age, gender and I can imagine most bitcoiners are somehow younger male who are probably internet geeks with some knowledge in programming, so if it is out of these pool of people, the conclusion made from the survey might not be that accurate.
|
|
|
|
|
Any jump is a good sign that might indicate a possible breakout even though we need to observe a little bit longer to establish a positive trend. But nevertheless, in bitcoin anything is always possible and i hope finally we have seen the worse. probably right now the up trend will continue due to strong buying support.
|
|
|
|
|
Unlike what we can see in fiat fundamental that applies to a country like for example employment rate, non farm payrolls, industrial output, retail sales, bitcoin has none of that literally although indirectly we can link that to the mining output and difficulty. So the fundamental when I say refer to bitcoin is basically the growth measured in terms of acceptance rate that applies to both individuals and businesses. How many new bitcoiners are joining the community each day, the transaction amount and such.
|
|
|
|
|
There's every chance and possibility that it will happen, provided nothing bad happens to the network or any loss of reputation due to scams whatever, and at its current growth rate in terms of adoption and development of infrastructure, i would say we are on track. The question that remains to be answered is "when" it will happen. That's something everyone wants to know answer for.
|
|
|
|
As some of you guessed I didn't really send £1000 worth of bitcoin to Namibia but what I wanted to do was discuss and highlight the difficulties of using the currency in places where it would be most beneficial.
I am married into a Namibian family. My wife likes to send funds to her parents in Namibia every couple of months. She has been doing this for the last 9 years.
Currently they use one of her bankcards and she has given them her PIN. She uses a UK bank account specifically for the purpose.
So, when she decides she wants to send money she transfers money from regular account to the account her parents have a card for and just does a regular bank transfer. This works fine however she probably shouldn't have given her card and PIN to someone else.
Most people are not in a position to do this.
Prior to doing it this way or if their are some issues with the account she would use Western Union.
I showed her how simple is is to send btc if you have Mycelium installed on your phone. But we were discussing what you would do with it.
At this point LocalBitcoins is proberbly out of the question, The nearest big town is a two hour drive away. Travel to Cape Town involves a flight.
PayPal.. I don't know. I had a bad experience with it related to bitcoin previously.
I guess bitcoin just isn't ready for these communities yet.
Hmm...to think of it if you can find some buyers in ebay or local marketplace who would accept your btc in exchange for goods then ship it to Namibia, perhaps that is worth considering. I mean come on, there is bound to be something that you will find it useful and which you can easily get buyers for it. I know it sounds awful having to receive the items and then finding buyers who would buy those stuff and then only you get back your local currency but any way is better than nothing. Unless you can find someone in your country willing to pay you in your local currency in exchange for btc |
|
|
|
|
Gee.. that was tough. I tried cracking my head to find a good word and the best I could come up with is bitillionaire but that sounds really awful to pronounce. I agree the word millionaire should be confined to fiat system and we really really need our very own bitcoin terms because for someone to own let's say 1000 btc, that is already considered rich.
|
|
|
|
|
If you are running android system and want to see balances of your different cryptocurrency you can try out Universal Bitcoin Wallet. Go to google play and type the keyword. It allows you to own wallets for different cryptos. If you don't have android system perhaps you could try installing bluestacks. I'm sure that would work. Furthermore it uses HD wallets which makes it easy to use
|
|
|
|
|
What you need to understand is that you don't actually keep the coins in your wallet. What you are having with the wallet program is basically the private key that allows you to access the coins in the blockchain. Electrum is an easy to use wallet program that allows you to keep your coins and at the same time allows recovery of your coins by just providing the 12 word seed in order to recover your private key.
|
|
|
|
|
Reading through page by page of posts i have to agree that probably the temptation of seeing the coins rise from a mere few cents going to dollars will be too hard to resist on not to sell. But i think true bitcoin believers will most probably hold on no matter what the price is. And I'm sure there are a few who even though have sold a bunch would still be keeping a few hundreds in their account.
|
|
|
|
|
I see the one of the remedial actions to hedge the effect of collapse is to buy into bitcoin and some precious metals for store of value. I mean if this happens sooner or later there is going to be a chain of reaction that will bring down the whole economy. And that is really bad. For now i can see the price of bitcoin is very well supported in face of this global threat.
|
|
|
|
|
I don't know how these economist make their predictions but definitely not this year for sure. Probably other currencies with fragile economy like euro will be more exposed and will suffer even worse fate compared to dollar and I see economic collapse in countries centered around europe and asia. And that especially taken into consideration that the rate hike will happen anytime soon this year.
|
|
|
|
|
Show Posts
