Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.
Exactly that! And to be even more precise, we as Bitcoin users are most likely not even 0.05% of the world population.We are a far minority that most likely won't even make a dent in the overall fiat-usage from people. If we at some point manage to gain 1% of the world population as Bitcoin user, then we have done an amazing job. that exactly shows that there is so much room for growth in the future. if we at some point do manage to have 1% of the people to use bitcoin, then imagine what it will do with the price. especially when wealthy people look to use bitcoin as a store of wealth tool. i can't even imagine how happy everyone here would be. |
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It's much easier to pay with BTC. You also can spend sums even under $0.001, which is a great feature. I only wish it was more popular.
can you at least explain why you think it's much easier to pay with bitcoin? here where i live in the netherlands it's definitely not the case. i can buy things instantly without any effort with fiat. people also see and know that. I think Bitcoin is the best way of payment if we are talking about small payments. It's almost impossible to pay to someone abroad say $2 or $3 with fiat, right? With Bitcoin it's easy. And I think this advantage of Bitcoin will be used more in the future especially in cases of selling or buying digital goods. yep, on that i have to agree. sending money to other countries is a much better and cheaper option to go with bitcoin. but within the country, there is very little room for bitcoin when it comes to being used as currency. |
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it's nothing new really. here in the netherlands i have to pay tax over bitcoin for quite some time now. it doesn't mean i am also doing it since i don't declare my coins and profits made through bitcoin, but officially it should be done.
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Actually I had planned to trade with bitcoin but I am not getting time to do that, so my next planning is to store bitcoin in my wallet and when price will rise I will sell my bitcoin unfortunately I don't have time and enough money for these. So my final plan is to use bitcointalk which will generate enough for my pocket money. But I could not become rich with bitcoin.
you can start with buying small amounts of coins and save them up till you have a reasonable amount that you at some point can use for trading purposes. if you don't have any time for trading, then you can simply hold your coins for a certain time and start trading when you do have the time for it. getting rich should not be the reason to be here unless you have many coins. |
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Yes just as much as dollar is being used for illegal activities. What makes bitcoin so attractive for criminals is that it is very anonymous so nothing is able to trace back almost. This is why criminals buy weapons etc with it on the darkweb via tor no IP no trace to payments nothing just the stuff they ordered. Be careful there's alot of bad people into bitcoin aswell.
whether it's bitcoin, gold, cash money, prepaid debit cards, people will use all these for not legal things. that's why governments have set up certain policies in order to push back the use of these tools for criminals. you can't even buy gold here without the store to scan your id. it's insane. |
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Let's make a timeline:
800$ range, Bitfinex got hacked price goes to 560$ range, Bitcoin didn't move that much, Bitcoin moved to 620$ (60$ difference).
Removing the Bitfinex from the set of events will result into an 800$ range, no significant movement for a while, +60$, we will be at 860$. There are flaws in this logic but you get the gist -- it will not touch 1000$ even if Bitfinex didn't get hacked. With the 800$ range, whales might have even dumped out some of their coins which would result for an even lower range. Nevertheless, none of us can do anything about these events. All we can do is wait for the next major price increase for we are all just speculators right now.
the price tanked to $465 at the extreme bottom of the dump. it made the price go down more than $150 in a single day. that's a significant difference. |
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These are the people who i hate the most peopel who are just holding bitcoins for nothing because they dont make money with it and they crash the price of the bitcoin the best!
without people holding, the price would probably not even be higher than $200 as the market would be flooded with circulating coins. those who keep holding contribute towards this price. so show a bit more respect. |
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these days are the days to buy bitcoin as much as you can afford because it is at a critical state. the price can start moving up so rapidly that we may miss out chance of buying at this price. just like the last time price went up with mad speed this time is the same too.
people have had enough time to buy themselves as many coins as possible at much lower price levels than we currently are seeing. it's however a well known habit that people wait till the last moment before they start with buying. that's how you miss out on profits. have the balls to buy when the price has been beaten to the ground. that's when you are doing great. |
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It's much easier to pay with BTC. You also can spend sums even under $0.001, which is a great feature. I only wish it was more popular.
can you at least explain why you think it's much easier to pay with bitcoin? here where i live in the netherlands it's definitely not the case. i can buy things instantly without any effort with fiat. people also see and know that. |
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i think bitcoin wallet is much more better bank wallet because bitcoin wallet is too much safer and bitcoin transaction fees is very and available everywhere for online shopping.
Let's put some twist on your side , How did you say so that bitcoin wallet is better than back wallet? is just because bitcoin wallet is much more safer? how about the bank ? Can you there have Customer support where if you need something you can make a call to them and banks and atm also can make transaction more easier than bitcoin. a lot people just say "bitcoin wallet is better" while they don't come up with good arguments as to why they think a bitcoin wallet is safer/better than storing money in a bank account. it's very important to note that nowadays banks are upping the way we do transactions. i am fairly sure that at some point bank transactions will be instant from bank to bank. and i am not talking about sending and receiving transactions to the same bank. |
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Yeah, there are people that hates bitcoin. There are people that hates something, there is no such a thing that everyone would like.
I think hat main reason why people hates bitcoins so much is that people lost a lot of money because of bitcoins, in trading or gambling, or when exchange site gets hacked. So they start to hate bitcoin and even try to kill it by creating huge panic.
Personally, i really like bitcoins because it is very nice to use bitcoins, very easy to buy with them and so on. Most of people here likes bitcoins too.
losing with gambling isn't a reason to hate on bitcoin for something you as person did wrong. i am wondering, will people hate fiat when they lose with gambling? i don't think so. better said, instead of hating on bitcoin when you lose with gambling, hate yourself for it. |
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it's weird, but somehow bitfinex is gaining back trust in the market as once again it started initiating a pump where china followed with a massive green candle. take a look at the charts and you will know what i am talking about.
It was probably always likely to happen but I must stress to people, even more so than last time, please do not leave lots of coins on there. Only leave what you plan to sell on their exchange & even then I'd do it in smaller amounts multiple times. people are too lazy to withdraw their coins from exchanges. they want to be able to sell as soon as they see that the price is going down or peaking. that's their reason of why they think it's "better" to leave their coins there. these people are seriously not learning from all the "hacked" exchanges that we have seen. |
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Current situation seems awfully similar to hype before previous project of Winklevoss - Gemini was announced.
People were saying back then - after Geminin will go live it will dominate market and price of BTC will skyrocket for sure.
And we all know what happened. Gemini is online and I personally don't know anyone who used it. Also it had zero impact on bitcoin price.
that's exactly the reason of why i don't take anything coming from the twins serious. they are loud mouths that have not proved a single thing at this point. |
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Very much agree with the OP, bitcoin will never replace fiat. The reason is that there are tools needed by an individual before they can use bitcoin. Unlike fiat money where they can use it as long as they have it in their pocket, no added tools needed to buy anything and pay for what you have bought in person unlike bitcoin that needs internet, a gadget and of course bitcoin.
even if people didn't need any "tools" to use bitcoin, it still doesn't have a chance to come even close to the position of fiat money. the governments will do everything to push back bitcoin in order to protect their economy. |
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without a doubt bitcoin. a few quick reasons per option. bitcoin - because i am a firm believer of the potential that this piece of technology has. and i also believe that we at some point will break through the current ath again. gold - not a bad option at all, but i can't see the price of gold double in value at all unless there is an economical crash or something. new corvette - as soon as you have the car, the value has decreased significantly already. plus here you have to pay a heft tax every quarter. and if bitcoin breaks through the current ath, then i can buy even more than just 1 corvette.  |
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The biggest problem is the fear of losing all bitcoin because many country banned bitcoin and if the same our government does with bitcoin then definitely my all 0.03 bitcoin will go in water. And I would not be about to earn bitcoin again.
it all depends on what kind of ban your country has forced through. that's very important to know. if it is only restricted to companies, then you as person has nothing to worry about. also important, certain countries banning bitcoin doesn't mean you will lose your coins. there are many ways to either sell your coins, or keep simply using bitcoin. |
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There is really no limit on where the price will go. It could take 20 years, but I don't think $5000 per bitcoin is impossible. In fact, we've already seen the price go over $1000 a couple of years ago.
back then there were much less coins in circulation, plus there was a massive amount of hype as bitcoin made it to news channels world wide. the rising price attracted so many yolo investors that the price kept going up till the bubble exploded. don't forget the mtgox bots that were constantly buying up the price. we don't have all that right now. |
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If you are talking about overnight, then you will lose funds on both the transfer in and the transfer out, which is also true of the longer periods, but I should think that in ten years that would be overcome by the increased value.
Can you be a bit more clear here? Are you talking about the fee that you need to pay for purchasing the coins, and then the fee to sell the coins at a later period? If that's the case, then it's a very small fee barely worth mentioning. You can buy yourself some coins as low as 0.2% per transaction. Let's say you have $1000 that you want to store in BTC, then the fee of both buying and the eventual selling, will be just 0.4% or $4 in total. Depending on the amount that is being stored, these fees are pretty small, but if you are trying to move and store something like 0.005, then you could lose a larger percentage than you would want in short term storage. are you talking about the fee that exchanges charge, or the transaction fees to move the coins to your wallet? if first case, then the fees are identical. if second case, then the recommended fee of 0.0001btc is a lot more severe for low valuw transactions like 0.005btc, compared to for example 5btc. |
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Despite the many problems in the market cryptocurrency, yet even the skeptics predict good growth bitcoin. Therefore, when the rate fell slightly, I think this is the case to buy bitcoin to get good returns in the future.
Everyone is expecting higher price in future so its good to buy when price is satisfactory for us, and if we can hold it for a long term then even current price is affordable to buy bitcoins. the majority of the expectations here end up in a big disappointment as people simply expect too much from the price. it has never been any different. i think it's mainly due to the fact that the price has gone up insanely high back in the days. they think it will happen again. that's where they go wrong with their predictions. |
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most people are predicting about bitcoin in the future will have a high price. I am also sure of it. in the future growth of bitcoin will be very big. we will reach the highest price in the future, so it really is very good if you hold bitcoin for the long term. but if you only make money this way, at least you should hold in large amounts.
i just afraid people optimism about bitcoin turn to a high dissapointment. don't put too high expectation to anything or you will hurt. although i'm personally still have a faith to bitcoin price will still go up. i just hold a little amount bitcoin only for my long term investment , and so far so good. people will always come up with insanely high price predictions. it's mainly because of how it was back in the days where it was going up and down like 50% once in a month. they think bitcoin is still in the same phase right now. they don't realize that there is much more money needed to get the price to go up compared to years ago. |
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