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Ayn Rand has been deprecated by contemporary philosophers and thinkers such as Sam Harris, more worth reading than A.R.
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The core of the EU is still working well together and prospering.
Germany, France, Holland, Austria, all are doing pretty well economically and lets not forget that several major wars were fought between these countries not long ago, whereas that seems unthinkable at the moment.
The peripherals might start to leave soon in my opinion. Iceland doesn't want to join anymore, the UK will probably leave and Greece, Portugal and Spain all have enough problems with the Euro that they might leave at some point.
I don't think the EU will die, but I think it might shrink back to it's core, much like the roman empire once did without collapsing
The south countries will probably create their own union and currency or something, since they are feed up with being troika slaves. |
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Long time lurker here and i decided to make an account , i mostly sell digital goods and program in my free time , i've made a program to get btc from faucets on autopilot and that helps a lot too !  Thanks for this awesome community  I spend a certain % of my monthly income on it, so im buying monthly for a year now or so. I also make some with the sig campaing but since it's peanuts I dont even count it. |
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The security of bitcoin is still the biggest problem to make it going to mainstream. Bitcoin itself is more security than any bank account, but it's very complex to keep it security.
Bitcoin itself is god, the problem is the exchanges and services are run by humans, prone to corruption. |
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I think this entire thread could be summarized:
When people buy Bitcoins, price goes up.
When people sell Bitcoins, price goes down.
.. and OP's price "speculation" won't work.
You missed the most important one: When people buy and spend bitcoins forever, price goes upSo the net result is up When you hold 100 coins indefinitely, there will be 100 coins permanently disappear from exchanges, thus reduce the supply and increase the price. When you spend them every 3 hours, there will also be 100 coins permanently disappear from exchanges, same effect. I hope this explanation can make it easier for you to get the picture Or people will simply say "$10000 a coin? Nope. Guess I'll just use my credit card." It's all theoretical and there's no telling what the real outcome will be. You can claim you know what will happen all you want, but the simple fact is you don't. 10K or 1 million per coin it would never be a problem since there are 1 million bits inside a coin. Once price goes that high we will use bits to measure value, not BTC. |
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I am just wondering if I am rich in comparison to the most other members here with my 20 years of age and a BTC stash of above 50.
I know most people don't want to share knowledge of their amount of BTCs, and their will be some trolls in this topic, but let's see.
Would you say more than 50 BTCs is "good to have"?
Most people here dont even own 1. Look at the number of registered users.. there's no way, statistically, that a good % of these even own 1 BTC. And how do you have 50 BTC at age 20? You must come from a rich family. |
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All those "super rich elite" clubs just alienate noobs even more about BTC since they think they are the Rothchild equivalent for fiat money.
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How will the price be affected?
On one hand the inflation rate will not substantially change until next July, 500 days from now. On the other hand it is a psychological reminder that this is coming, many people seem to be unaware of it.
I don't think this is going to affect the price much. Mining related stuff, we can only wait for the halving to have an impact, if anything, other than that I dont see it. |
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Just remember some nice talk from Interstella:
"Because he knew how hard it would be to get people to work together to save the species, instead of themselves or their children. Evolution has yet to transcend that simple barrier. We can care deeply, selflessly about those we know. But that empathy rarely extends beyond our line of sight."
Similarly, it is difficult to let people work together to change the world from fiat money's slavery, since their line of sight seldom extends beyond their salary and profit, not even mention fiat monetary system itself
Fiat money's slavery is not bad at all. We work hard to earn more money, but this is invested in real assets. If the current monetary system is not going to change in our lifetime, why bother with it? Lol working hard is a scam. You are working hard and making peanuts so other people work smart/have luck and make millions out of you with 1% of your effort. |
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which quote are you refering to ? This. I've read the entire thing but I can't find that. I think OP is just over reacting and being paranoid. |
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Well, I think this is where services like BitPay is not helping at the moment. {Converting BTC directly to fiat}
The merchant that accepted BTC should not be able to convert ALL the BTC it received, INSTANTLY back to fiat. {I know they do offer the merchant the option to choose, what percentage they want to instantly convert to fiat}
Let's say BitPay or any other payment processor agree with merchants, that it would hodl the coins, until a 1% to 3% increase in the value occur and then sell it, then we would see some short term rise in the price...or even better, if they can hoard it for a longer period, until the price increase.
Yes, this is price manipulation....but it's being done will all commodities, eg. {Oil / Corn / Gold etc. etc...} ....so why must Bitcoin be any different?
Because then merchants wouldn't agree to accept bitcoin, and then bitcoin users would never have any place to spend bitcoins, and thus bitcoin dies a quiet death? Merchants follow the money, if we start to use soda cans tommorow as a barter item, they will have to accept it too, or they would go out of business. The people decide what currency too use, the merchants just follow the most popular method of payment. Let's not forget that there are a benefit for them in this too... if they hoard, the price goes up, and they get more bang for their buck.  They only need to sell, when the price goes up... Let's say they did this with a yearly gross turnover of $1 000 000 and they got a average 1% profit on doing this. They would have received $10 000 more for their same money, if they only waited a few days, before they converted back to fiat. This turns into a tricky arena, though. Small businesses wouldn't benefit. Big businesses are harder to sway. It takes money to get big business to make a switch. Such as Apple and Apple Pay. If some of the big businesses like Apple still resist to accept Bitcoin is all due ego. It's a stupid ego fight, they want their own thing.. they should learn from Microsoft. |
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I would buy Bitcoin because.. I don't want banks to freeze my savings just like it just happened in a spanish bank.
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In other words, you don't believe Ethereum will succeed?
If Ethereum succeeds, in the short term it will help Ethereum. In the long term the features will be inserted into Bitcoin either directly or on top on it, which Counterparty has already done. So yes, Ethereum success may help Bitcoin, but its is a long time away. I think all these decentralization projects will succeed. Everyone being pioneers in centralization will be a success. Just like everyone being pioneers in Virtual Reality headsets will for sure be a success (Oculus, HTC Vibe, Sony Prometheus, all of them will sell well regardless fanboy wars). |
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Possible but quite unlikely. If Bitcoin were to replace all the fiat in the world in every single country, it would reach about $1 million per coin for a total market cap of about $21 trillion (actually it's slightly less than this due to some coins being lost over time). In that case, 1 satoshi would still only be worth 1 cent.
However, if this happens in the very distant future then it's possible that USD could lose 99 percent of its value due to simple inflation. If this happened, 1 USD by then would be worth 0.01 USD today. The dollar has already lost 96 percent of its value since 1913 so it's not impossible. So perhaps once Bitcoin is fully mined in the year 2140, 1 satoshi being worth 1 USD might be possible. Not that it really matters however since a coffee would cost you $300.
And finally, there is also the risk of hyperinflation. It happened in Germany. It happened in Hungary. It happened in Yugoslavia. And most recently, it happened in Zimbabwe. It could happen in the US too. This would have the same result as above although it would obviously happen much faster.
Additional note: If Bitcoin reached a status comparable to that of gold, then it would reach roughly $350,000. That would be a more realistic scenario.
What's important is to try to calculate what will be the purchasing power of 1 BTC in the next 10 or 20 years, not the parity with dollar which could indeed decrease a lot. The question is: how?? |
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The price is absolutely not moving.. what the hell is going on that the exchange rate is so boring. Where is the action? Where are the pump and dumps?
Things are happening, look at the news, VC capital stacking in, more adoption.. it's just the whales buying slow to not cause a rally for now. |
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Varoufakis said that you can not run an economy with surplus over any lenghth of time, the economy would crash. I happen to agree (for welfare states), the subjects will not accept it. The consequence is that a welfare state is not sustainable, they will all have to go at some point.
Varoufakis knew that he wouldn't follow with Merkel's commandments after accepting the extra 4 months or so to keep applying the troika's measures, he's just getting more time. It will end up in Greece leaving the Euro anyway, they are waiting for other countries elections to create presure. |
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Technology is not already "there", at least not enough to deliver mainstream adoption. As Andreas has said things may chang al ot in the following years. We may end up not even using wallets as we know them, with the non very user friendly addresses and whatnot.
Until things get dumbed down so average joes can use it we will see a moon.
I will disagree. I think technology is there. Fine and ready to be used by people. You are talking about future evolution of known concepts - that is something totally different. We are ready to embrace bitcoin in our everyday life but people need to know about that something like bitcoin exists. Technology has nothing to do with this process really. Nope, it's like complaining that people didn't use the internet 1993. Of course they wouldn't because they don't see a point in using it. We are in 1993 in terms of cryptocurrencies. In 10 years Bitcoin will be huge. |
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One of the arguments in favour of Cryptonote over Bitcoin is of course incidents such as the following: https://github.com/bitcoin/bitcoin/issues/2653 A law enforcement raid over a relayed Bitcoin transaction http://www.coindesk.com/chainalysis-ceo-denies-launching-sybil-attack-on-bitcoin-network/ The chainanalysis 'Sybil Attack' on the Bitcoin network. As for adaptive parameters this is a feature of Cryptonote based coins that is not commonly discussed but is very important. The most visible advantage is that Cryptonote based coins do not have the 1MB maximum blocksize issue since the network adapts to the actual demand. I must say that it is this issue that led me to find out about and invest in Monero in the first place. Monero will be huge no doubt, the thing is they are taking too long to come up with a functioning GUI and also what will happen with the blockchain bloat that I kept reading about back in the day? |
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Nice to see a thread back from September where the volume, transaction rates, etc. really died down a bit! Right now, even if the price is still a tad lower, we're on the way up again it seems!
Venture capital flowing into Bitcoin is increasing insanely quick each year too. |
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I would sell my bitcoin if I was stupid enough to do it for whatever reason (all reasons are equally stupid).
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