The bitcoin can be "controlled" not through the mining system but only as a currency. The way may be will the collaboration of all the countries which have regulated it. Later can be added all the other countries which will regulate it (probably all the world). Those can create an Authority which can try to do monetary policies for bitcoin as a currency and to treat it as a world currency. This authority will be independent from every state and will do politics which will have as aim the stability of bitcoin as a currency and the use of it according to the role given to it from those countries. An interesting role of bitcoin it will be this proposition made in this thread: https://bitcointalk.org/index.php?topic=1191118.0

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in their infant stages and therefore cannot make paper money to dissappear so quickly. The use of paper money is so important in that even those people currently adopting digital currency have a few nots in their wallets.

If anyone reads the first post of this discussion about why people is saying btw is dead, you will realize that its from 2014. From this date bitcoin dead some millions of times, there were a lot of articles announcing the dead. But we are on 2016 and today bitcoin price is increasing near 10 % from yesterday lowest price. Some users wants to move the price to lower levels to buy more bitcoins.

You should not sell any bitcoins from now on that is right, if you would sell them now you will make profit but not as much you will in about a few months, so if you are smart just hold them and be patient for the halving.
If the halving has been done you can sell your bitcoins if you find that necessary or your can just hold them longer and maybe you will gain more profit because of that but its always a risk of course.

I'm a bit hesitant to explain this because I suspect that the confusion comes from you not understanding what inflation is, and it's just going to confuse you. But since you ask the member states print their own banknotes, with permission from the ECB. The bank notes are identically designed, except for the serial numbers, which allow you to tell which country they were printed for if you're interested. The coins are the same on one side, but the other side has a design on it particular to the member state that minted it. But economically it would make no difference if they were all minted in Brussels and shipped to the member states.

well you are right in some point.
if bitcoin will REALLY go down that far.
absolutely many bitcoin users will buy.
but ofcourse before it go down to that.
i think a lot of bitcoin users already sell their bitcoin because
of disappointment. and bitcoin users really dont want it to go down that
far, the true fantasies of bitcoin users is the bitcoin to go up and up..
not down and down...

Fair argument, but I think when most people say they'd sell they're bitcoins if the value of bitcoin reaches a certain point they're meaning that the value of fiat has stayed relatively the same. I don't think people would sell their bitcoin for $10,000, if said $10,000 only bought you a #1 from McDonalds. I think most people saying that would be what they would sell there bitcoin at in terms of todays "value" of money.

I used to try and time the market and it ended up driving me insane. Now I pay all of my bills, put some in savings as well as a "fun money" account. Whatever is left I purchase Bitcoin with. This seems to have worked the best out of any method I have tried. It sure beats the feeling when you buy a few thousand dollars worth of BTC and the price immediately tanks $20  Wink

I am following this strategy to "spend" my bitcoins
(because in my opinion this is not a real expense, but
an investment): I use to trade in forex my fiat money;
when I need to withdraw money my brokers give me
the option to withdraw it in BTC or  doller ; when BTC
is cheaper I whitdraw only BTC, and when BTC is
high, I use to deposit into my trading account a good
amount in bitcoins, this way I do a kind of beneficial
exchange.

I think the idea that you should only put what you are willing to lose in is a fair point but overstated. From a pure price standpoint (outside of losing it or getting it stole, ect.) there isn't a 100% loss risk involved. If your semi-diligent you can get out before a huge loss. Even people who bought at the 1k peak still 'only' lost 75% or so if they held until today. Not ideal but not like it's the end of the world, and that is the extreme case.

That being said, it would obviously be foolish to invest any needed money or large % of your investments into it.

It's almost impossible to answer this question for a multitude of reasons, but I'm attempting to get my total bitcoin holdings to 100 coins to save for the future and I'm almost half way there. Not expecting to get rich from them or anything but I think its a nice amount to have. I would certainly like to actually spend the coins in the future rather than cash them out as well so hopefully the appropriate merchants and infrastructure will be there in the future for me to do so.

Where did you get that picture of my family?  Calling them nutcases, you have the nerve...

My family is much better prepared than I am, as you can see.  Alas, in my case, my guns (ammo too) were lost in a boating accident, why a year ago IIRC.  Rather than get the police all riled up about guns out there at the bottom of the sea, I thought I would just let them corrode away.  Most unfortunate.

Oh, I lost all my precious metals on the same boat-ride.  And everyone told me that it was so much better to take all that stuff with me rather than leave it all behind in some dark place at home.  How naive.  Now I have to start over.

Generally, you should start to save in money, and only consider investing when you have a suitable stash. And you should not invest all of it. If you invest in a shop, for instance, and you encounter a loss, the business could still be worth continuing, in which case you need to invest more to keep it going. At your own discretion of course.

Most people can save some money, except at times when the luck goes against you, in which case you have to draw on saved money. Is that coffee at Waynes really necessary, or that last pint of lager?

The fact that bitcoin is sound money, and currently most probably will rise in value, and the probability of it's value going down is smaller, is in fact good for the small guy, the one who does not have enough to invest.

These two statements are somewhat contradictory, but point to the fact that societies can evolve. Evolution is never a "pretty overlay," in fact evolution is often very ugly. I think we all agree that humans don't desire money or they would not spend it on desirable pleasures. How we get to a maximized efficient means of fulfilling desirable pleasures has historically been through technology. Let evolution take its course and allow technology to continue to maximize efficiency of fulfilling pleasure. Money is of little importance in the long run. When things get very ugly because competing money systems all will fail, evolution will weed out the money and allow technology to do what it does best and increase pleasure.

Interesting view points.  I've been a stacker for decades and can't come close to linking the two other than a ratio of value between them. Bitcoin has transaction convenience and for me that's about it.  Gold (my gold/silver) stays out of the system and therefore my wealth is too.  I doubt very much if my btc  transactions are truly anonymous.

Carrington events have happened thousands of times in earths history but only given a name 1859.  We (earth) were lucky two years ago when a very extreme event missed earth by a few days. (rotation of the sun etc.etc.)  If luck wouldn't of been with us we wouldn't be on this forum now. Or would any electronic transaction of any kind happened from that day till Huh??  But the couple of days of 24hr continuous Aurora Borealis seen from any and everywhere would of be damn cool.

I would get at least 10 Bitcoins to be on the safe side. However, i will buy these bitcoins from money that i can afford to lose. My retirement fund will be growing separately (retirement fund consists of blue chip stocks, Gold, Silver, Fixed deposits, Real Estate etc.,). I purchase Btc off the remains and earmark a small amount toward bitcoin each month in my entertainment fund. This way, even if BTC crashes, i am still protected as i would not have lost everything i have and my retirement fund would still remain intact. I am not a bear when it comes to bitcoin, but its better to be safe than sorry!

The exception to this rule is, if the AI can, or is allowed, to rewrite it's own error checking and debug software, this doesn't necessarily mean the original version ceases to exist.  If both versions continue to exist, you have recreated evolution (asexual reproduction), and your argument about "every human brain is unique and machines aren't" probably goes out the window.  Literally hordes of physical representations of each version would arise and probably compete with each other for resources just like real animals do.  Some versions would be completely useless and just stand there counting photons, other versions, being in a different environment with different external variables, might run into other AI and try to compete with it for resources and turn into predators developing weapons for the task.

I don't know investing bitcoin will make any one rich or not but it is good investment option for one to start exploring as an investment option. The prices are very volatile so after investing you must watch out the prices to avoid bigger losses. Just like who ever brought bitcoins at 1000+ couple of years back they are still waiting to reach their.That is right people with a lot money tend to do drugs, gambling, a lot of sex and a lot more that is against peoples eyes or the law of man. They dont have anything to do with their money so they want to try it all.

It's always better to buy in to something in which it is deemed you are "guaranteed to lose money" on it.  I know gold has been on a steady decline in prices, but I have a feeling we will be seeing another economic collapse due to oil companies defaulting on their business because of the recent global oil glut.  You can't keep selling something that is essentially making you lose money...

I have a strong feeling this will happen within this year... approximately 8 years since the 2008 economic collapse of people faulting on their mortgages.  So buying gold/silver (and I guess bitcoin) will be of everyone's best interest as of right now, IMO.

I am absolutely infatuated with Bitcoin and it has driven me to change my major to one that is related so that I can hopefully start a career in FinTech when I graduate. I was lucky enough to get an internship with a tech startup and would love to go and work in Silicon Valley. The only issue being that I have a fairly stable job that I could make a career out of and I am afraid to leave that safety net. It's definitely a hard choice