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The zealous bitcoiners need to wake up and smell the coffee: we need to test the network under real circumstances before we can aim at reaching a mainstream audience. Imagine a bad actor with an agenda and lots of resouces tries to flood the network.. they could have done it before if they wanted to, they just don't see a real treat (yet). We need to know what would happen and we need to take the measures before a real enemy attemps a mega flood attack on the chain. And like Kprawn says, they should have done this in a random day without telling anyone to simulate a real attack. Now the results will not be as clear. Remember guys, a real attacker is not going to tell you "do you want this on the testnet or not?"
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People just don't care about the Bitcoin Foundation and it's transparency anymore.
There has been so many bad allegations being made against them in the past that their opinion or their inputs have been watered to a degree where it does not count for shit anymore.
They are like the Titanic... The only thing left is a few lifeboats floating in the water.
How many of these allegations were true, has no substance anymore.. most people just lost faith in the organization. Some people even argued that they had no need for them from the start.
I must say, they did arrange some nice events and some good discussions took place at these events.
I don't think they can recover from the fact they had one of the most hated if not the most hated persona in the Bitcoin world as a lifetime member (im talking Mark Karpeles btw). The guy scammed way too much people for it not trigger hate everytime you hear his name. |
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Bitcoin isn't worth it for people who don't have bitcoin. But if people have some bitcoin, things will be different People do not become bitcoin consumers over night. They typically first purchase bitcoin, then hold it for years, and then when their bitcoin have raised in value multiple times, they become the bitcoin consumer  Yeah but people don't want to convert their money into Bitcoin usually because they don't feel a need to do so, at least not in the developed world or exceptional situations. For example if I lived in Greece I sure as hell would put 50% of my wealth into it, but if you live in Germany or something, people aren't going to see a point beyond using it like a Gold investment in most cases. |
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we aren't there by any means, a trillion is 1K billion in the short scale, and we are still at a mere 4B
we need to do a x250, which mean a price of 62.5k, something a bit crazy, that won't be reached before 3 halving at least
an interesting thought by Winklevoss twins that Bitcoin as a payment system will surpass visa+mastercard+amex+ other major payment systems= 400 Billion$ and be in Trillions of dollars https://youtu.be/uEIPzl4Bx5I?t=137 , so primarily it is a point of time when people start switching from these payment processors to Bitcoin, it should reach the average Joe's throughout the world from a Hotdog seller in the US to a peasant in India., thats the time probably Bitcoin will reach a trillion$ market cap. I wouldn't place much faith in WW brothers, they seam to be easy on words in most cases, but on this one ill give them credit. There's no reason why bitcoin shouldn't replace most, if not all other alternatives. It's just a matter of time and struggle it will take to get there. But i must say, expecting prices of 60k+ is a very far dream, and even if it is to happen, it wont be anytime even remotely soon. cheers The CEO from Xapo expects a price of 500 to 1 million dollar per BTC in the next 10 to 20 years. It sounds insane but so did BTC ever reaching 1K back in 2009. If Bitcoin manages to be the #1 worldwide electronic money transaction system it is pretty much guaranteed that we'll see something along the lines, but we aren't used to seeing assets being worth that much "per share" so it creates cognitive dissonance and it makes you think it's impossible, but it isnt. |
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"Google searches for bitcoin up 102% in past week"
It's been pretty flat for quite a while now, but this week has seen more than double the number of google searches for bitcoin.
A good sign I think.
Indeed, it's funny how all charts look up (vc money, transaction volume, internet search volume) and the price lags behind. This only means one thing: The next bubble will be of epic proportions. |
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It's important to make a distinction between bitcoin the currency and bitcoin the protocol.
There's no healthy bitcoin protocol vs healthy bitcoin currency. Widespread of the protocol: higher price. This will translate sooner or later into the price. The market is heavily manipulated. |
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Hell, did anyone invest in Litecoin? that would have been a great way to achieve this overnight. Whoever pumped Litecoin is a such a cheeky cunt whale, they all were expecting a pump in Bitcoin for the Greece thing, but the 80% gains happened with Litecoin.
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I think Bitcoin is just like any other currency. How does a currency rise or fall? It needs basic supply and demand, investments, and exchange. Bitcoin it self needs to be more and more globalized for people to use. The more people using it, means more people are going to be trading and exchanging with bitcoin.  Agree, needs time, not a few years, lot of time. Some facts: Mining will never stop, every 2 years computer processing technology gets twice faster and twice smaller. With oil exhaustion we'll enter an age of New energy forms, some free, some cheaper, some more efficient. Population continues its grow, more shit to the planet but more Bitcoin demand Demand will go high only if the awareness level is high. People should start accepting the bitcoin and I believe the present users of bitcoin should educate those people who are still not aware about the bitcoin once people starts using it I think the value can go beyond $1000. Exactly, a nice way about pursuing that would be making sure getting your business or work involved someway with btc. That way, every time you meet somebody new and express about work, you introduce them to btc. People still don't trust Bitcoin enough to involve their businesses with it. It's only long term visionaries that get it and geeks that are ahead of the curve. The rest just cannot be saved and are destined to be left behind just like most people got left behind in the 90's when the internet started getting mainstream. |
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in my opinion government slowly will welcome for bitcoin as one of their economy base.
What makes you feel that? The last thing bitcoin needs is government regulation because it will affect system functioning of bitcoin. Welcoming it would be nice, fucking with it? Probably not. If there is no regulation I doubt it will ever reach mainstream status. As long as there are ways to stay anonymous and the privacy of Bitcoin which currently is pretty poor improves in the future, those that want to circumvent regulations will be able to if they want to risk it. |
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It's not only Goldman Sucks, it's all taxpayers in the whole European Union. The pensioners would go through much harder times if Greece pays their pensions in drachmas. It will be tough for drivers, too. The oil companies will not accept drachmas... The Drachma will at least have some value. Anyway, if the Drachma experiment fails, the Greek government will make the Russian Ruble as the national currency and make the pension payments in Ruble. Also, most of the Greek oil imports come from Russia. They will be having no issues, if the Greeks pay them with Rubles instead of Euros. As I understand it Greeks are very proud, I doubt they would switch currencies and (so obviously) be beholden to another power. At this point I don't believe they will default- the misguided idealogy of the EU seems likely to prevail. But what do I know? I'm just a guy on the internet The scenareo is very open right now. Varou is pushing these guys to the limit and they are extremely pissed out. I don't get how he managed to get those 3.000 million more from the ECB. Its only a matter of time they get feed up and Greece leaves. |
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Some claim that Greece will descend into madness and it will be the apocalipse unless they pay these international troika banksters back but im not sure about that.. The people of Iceland told those parasites to take a hike and it wasn't the end of the world, they are doing better now.
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Ray Charles could see that it's fake. same size bids every $0.50  why is that fake? could just be an accumulation strategy... This. Sometimes it looks like it's fake, but some whales just don't care and like to play that game while getting loaded in small increments of BTC with a staircase spread. |
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I would move to Greece then.
The beauty of Bitcoin is you wouldn't probably need to move to Greece to benefit from it. Just get the citizenship, start a business there and that's all, you can come back home and operate your BTC business. |
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I never really why these people sell at a loss. It's easy to see the potential for bitcoin to get back to its previous high and even further, but people just need patience so I agree and think it's silly selling at a loss. I'd rather take the gamble and hold for mega profits in the future. These people will be kicking themselves if bitcoin goes to the moon again.
Emotion is an extraordinarily powerful thing. The best traders have conquered it and that's what they feed off in the markets. History is littered with people who gave up at the lowest moments. The BTC market must feel like a gift from heaven to the pros because I'm sure it's many a holder's first dabble in any type of trading. They would be like lambs to the slaughter. Temptation will kill so many holders that have a long ter mindset, we are ahead of so many lucrative bubbles that statistically, most (and I hope im not one of them) will sell way to early, when we think we sold at the top. |
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I've just watched btc jump from £152 to £158 to £163.40 in a matter of hours. Some have speculated it's the situation in Greece, but the real question is, where will it stop?
It is hard to say if Greece has anything to do with this. For this we would need to know the percentage of people that know not only what Bitcoin is but if they know how to use it and store their money on there. Also, wouldn't the goverment try to do something about it? Nowadays you need to give a lot of credentials to the exchanges, so maybe the Greek government could demand the exchanges that every Greek citizen that deposited money there gets some sort of sanction... im just picturing scenarios of what the gov could do to avoid it and drop fear on citizens to use BTC as a safe haven. |
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You should ask amagimetals.com. They sell silver and so on, very trustable site, and they switched from regular transations to Bitcoin only. Im not sure if they would be able to share their data, but it would be interesting to know how a business does when it goes 100% BTC.
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Dont get yourself under delusion that the next bubble will be at $2000 and after that the price would be stabilized at $1200. It is 2015 and people are not stupid to fall into another bubble anymore because the peak of 2013 has burned alot of people.
Also that a bubble is not answer if you are seeking for $1000 price and it is called bubble for a reason. If people are seeking for BTC to reach $1000 then there will be no easy way to do it because only mass adoption could be the reason for it to happen and it wont be in such a short time
because after a couple halvings the price is better 1000+ or else the mining will not be profitable for anyone. Another Delusion I would say, it is not clear yet wether the next halving will be actually give a significant effect for the price . I would say that with the next halving then high chance that miners wouldnt be profittable anymore. With the current miners it wont be profittable but you could be sure that until next year there will be ton of newer miner with more efficiency If your reasoning behind that the next halving will bring a higher price is because that miners probably wont be dumping anymore because it isnt profittable then I would say that you are not aware of the other factor besides miners' dump . Low price isnt really caused by miner dumping but on several occasion it is being manipulated better to not go over board with the excitement People need to know that everytime we reach a new higher stepstone, there will be alot of traders trying to get a profit from it. So expect a dump each time we reach a new higher price will be reached once again is just a matter of when
Rather that it will be a question on how will it reach 1k again Well the guaranteed facts about the halving is that the inflationary phase of BTC gets way closer than it is now, less inflation should give us a higher price if all indicators of interest keep going up. |
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Supply & Demand controls the price. You forgot to add the third factor that controls the price which is manipulation. If the big greedy pump and dump miners actually scale back on dumping it the price will rise.
Most people are mining for profit and that would cause them to dump whatever amount they could get as long as the cost for mining < price of BTC . Miners dumping isnt a reason that the price hasnt reach $1000 to be honest and even with the miners keep on dumping , the price has been rallying for $23 now which serves as a proof that miners isnt at fault for dumping their mined BTCto pump up prices.
You should be aware that every pump will be followed by a dump shortly afterward . Pump will only create a bubble that burn alot of people anyway which happened at the $1200 peak before But BTC HAS to keep getting the price higher and higher, eventually a new floor will be set, maybe the next bubble is 2000, and it crashes back to 1200 or something along the lines. |
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I would love a way to choose ANY stock and operate it with BTC. Hopefully the Winklevoss level take it to the next level when they are done with Gemini, and create a way to interact with forex and the big stock markets to choose any stock we want without the need of depositing fiat, doing it with BTC directly. That would be amazing.
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If you would like to see a good analysis of how the austerity measures, as imposed by merkel and friends (a troika of unelected officials), has worsened the debt crisis in Greece and Portugal should watch this German documentary. What people keep forgetting is that Greece is in a DEPRESSION, despite having undergone the greatest fiscal adjustment in memory during the past 5 years. https://www.youtube.com/watch?v=gwuD0MqU3qk(enable subtitles) |
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